Payment of Interest; Interest Rights Preserved. (a) Interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name such Security (or one or more Predecessor Securities) is registered at the close of business on the Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) or, at the option of the Company, by check mailed to the address of the Person entitled thereto as such address shall appear in the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holder. (b) Any interest on any Security that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause (i) or (ii) below: (i) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest (a “Special Record Date”), which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders of such Securities at their addresses as they appear in the Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii). (ii) The Company may make payment of any Defaulted Interest on Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quoted, and upon such notice as may be required by such exchange or quotation system, as applicable, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. (c) Subject to the foregoing provisions in this Section 3.08, each Security delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 23 contracts
Samples: Indenture (MicroAlgo Inc.), Indenture (WiMi Hologram Cloud Inc.), Indenture (MicroCloud Hologram Inc.)
Payment of Interest; Interest Rights Preserved. (a) Interest on any Security which that is payable, payable and is punctually paid or duly provided for, for on any Interest Payment Date shall be paid to the Person in whose name such Security (or one or more Predecessor Securities) is registered at the close of business on the Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) or, at the option of the Company, by check mailed to the address of the Person entitled thereto as such address shall appear in the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holder.
(b) Any interest on any Security that is payable, payable but is not punctually paid or duly provided for, for on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause (i) or (ii) below:
(i) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest (a “Special Record Date”), which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders of such Securities at their addresses as they appear in the Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii).
(ii) The Company may make payment of any Defaulted Interest on Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) Subject to the foregoing provisions in this Section 3.08set forth herein relating to Record Dates, each Security delivered under pursuant to any provision of this Indenture in exchange or substitution for, or upon registration of transfer of, any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 10 contracts
Samples: Indenture (Healthpeak OP, LLC), Indenture (FREYR Battery, Inc. /DE/), Indenture (MorphoSys AG)
Payment of Interest; Interest Rights Preserved. (a) Interest Unless otherwise specified as contemplated by Section 3.1 with respect to the Debt Securities of any series, interest on any Debt Security which is payable, payable and is punctually paid or duly provided for, for on any Interest Payment Date shall be paid to the Person in whose name such Debt Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest notwithstanding the cancellation of such Debt Security upon any transfer or exchange subsequent to the Regular Record Date. Payment Unless otherwise specified as contemplated by Section 3.1 with respect to the Debt Securities of any series, payment of interest on Debt Securities shall be made at the Corporate Trust Office (except as otherwise place or places specified pursuant to Section 3.01) 3.1 or, at the option of the Company, by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register or, in accordance with arrangements satisfactory if provided pursuant to the TrusteeSection 3.1, by wire transfer to an account designated by the HolderHolder by the Regular Record Date.
(b) Any interest on any Debt Security that which is payable, payable but is not punctually paid or duly provided for, for on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of his, her or its his having been such a Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause (i1) or (ii2) below:
(i1) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names such Debt Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest (a “Special Record Date”)Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Debt Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which date shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders of such Debt Securities at their addresses as they appear in the Security Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Debt Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii2).
(ii2) The Company may make payment of any Defaulted Interest on Debt Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Debt Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) Subject to the foregoing provisions in of this Section 3.08Section, each Debt Security delivered under this Indenture upon transfer of or in exchange for or substitution for, or upon registration in lieu of transfer of, any other Debt Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Debt Security.
Appears in 8 contracts
Samples: Indenture (Nicolet Bankshares Inc), Indenture (Heritage Financial Group Inc), Indenture (Reinsurance Group of America Inc)
Payment of Interest; Interest Rights Preserved. (a) Interest on any Security which that is payable, payable and is punctually paid or duly provided for, for on any Interest Payment Date shall be paid to the Person in whose name such Security (or one or more Predecessor Securities) is registered at the close of business on the Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.013.1) or, at the option of the Company, by check mailed to the address of the Person entitled thereto as such address shall appear in the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer of immediately available funds to an account designated by the Holder.
(b) Any interest on any Security that is payable, payable but is not punctually paid or duly provided for, for on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause (i) or (ii) below:
(i) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest (a “Special Record Date”), which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders of such Securities at their addresses as they appear in the Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii).
(ii) The Company may make payment of any Defaulted Interest on Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) Subject to the foregoing provisions in this Section 3.08set forth herein relating to Record Dates, each Security delivered under pursuant to any provision of this Indenture in exchange or substitution for, or upon registration of transfer of, any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 8 contracts
Samples: Indenture (Coors Brewing Co), Indenture (Molson Coors Beverage Co), Indenture (Coors International Holdco 2, ULC)
Payment of Interest; Interest Rights Preserved. (a) Interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name such Security (or one or more Predecessor Securities) is registered at the close of business on the Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) or, at the option of the CompanyIssuer, by check mailed to the address of the Person entitled thereto as such address shall appear in the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holder.
(b) Any interest on any Security that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the CompanyIssuer, at its election in each case, as provided in clause (i) or (ii) below:
(i) The Company Issuer may elect to make payment of any Defaulted Interest to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest (a “Special Record Date”), which shall be fixed in the following manner. The Company Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company Issuer of such Special Record Date and, in the name and at the expense of the CompanyIssuer and the Guarantor, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders of such Securities at their addresses as they appear in the Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii).
(ii) The Company Issuer may make payment of any Defaulted Interest on Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quoted, and upon such notice as may be required by such exchange or quotation system, as applicable, if, after notice given by the Company Issuer to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) Subject to the foregoing provisions in this Section 3.08, each Security delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 6 contracts
Samples: Indenture (CNOOC Finance (2013) Ltd.), Indenture (CNOOC Finance (2015) U.S.A. LLC), Indenture (CNOOC Finance (2015) U.S.A. LLC)
Payment of Interest; Interest Rights Preserved. (a) Interest Except as otherwise provided in accordance with Section 2.01 with respect to any series of Securities, interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall will be paid to the Person in whose name such that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) or, at the option of the Company, by check mailed to the address of the Person entitled thereto as such address shall appear in the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holderinterest.
(b) Any interest on any Security that of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “"Defaulted Interest”") shall will forthwith cease to be payable to the Holder on the relevant regular Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the CompanyCompany together with interest thereon (to the extent permitted by law) at the rate of interest applicable to such Security, at its election in each case, as provided in clause (i) or (ii) below:
(i) The Company may elect to make payment of any Defaulted Interest (and interest thereon, if any) to the Persons in whose names the Securities of such Securities series (or their respective Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest (a “Special Record Date”)Interest, which shall will be fixed in the following manner. The Company shall will notify the Trustee in writing of the amount of Defaulted Interest (and interest thereon, if any) proposed to be paid on each Security of such Security series and the date of the proposed payment, and at the same time the Company shall will deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest (and interest thereon, if any) or shall will make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons persons entitled to such Defaulted Interest (and interest thereon, if any) as in this clause (i) provided. Thereupon the Trustee shall will fix a Special Record Date for the payment of such Defaulted Interest (and interest thereon, if any) which shall will be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall will promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall will cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders each Holder of Securities of such Securities series at their addresses such Holder's address as they appear it appears in the Security Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest (and interest thereon, if any) and the Special Record Date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall will be paid to the Persons in whose names the Securities of such Securities series (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall will no longer be payable pursuant to the following clause (ii).
(ii) The Company may make payment of any Defaulted Interest (and interest thereon, if any) on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clauseclause (ii), such manner of payment shall be deemed practicable by the Trustee.
(c) Subject to the foregoing provisions in of this Section 3.082.09, each Security delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, of or in exchange for or in lieu of any other Security shall will carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 6 contracts
Samples: Indenture (Mercury Finance Co), Indenture (Mercury Finance Co), Indenture (MFN Financial Corp)
Payment of Interest; Interest Rights Preserved. (a) Interest Except as otherwise provided as contemplated by Section 3.1 with respect to any series of Securities, interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person Holder in whose name such that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest notwithstanding at the cancellation office or agency of the Company maintained for such Security upon any transfer or exchange subsequent purpose pursuant to the Record Date. Payment Section 10.2; provided, however, that each installment of interest on Securities shall be made any Security may at the Corporate Trust Office (except as otherwise specified Company’s option be paid by bank transfer or mailing a check for such interest payable to or upon the written order of the Holder entitled thereto pursuant to Section 3.01) or3.8, at the option of the Company, by check mailed to the address of such Holder as it appears on the Person entitled thereto as such address shall appear in the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holder.
(b) Security Register. Any interest on any Security that of any series which is payable, payable but is not punctually paid or duly provided for, for on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause Clause (i) or (ii) below:
(i) The Company may elect to make payment of any Defaulted Interest to the Persons Holders in whose names the Securities of such Securities series (or their respective Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest (a “Special Record Date”)Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such Security series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit on or prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons Holders entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be delivered electronically or mailed, first-class postage prepaid, to the Holders each Holder of Securities of such Securities series at their addresses its address as they appear it appears in the Security Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaidso delivered or mailed, such Defaulted Interest shall be paid to the Persons Holders in whose names the Securities of such Securities series (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii).
(ii) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) . Subject to the foregoing provisions in of this Section 3.08Section, each Security delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, of or in exchange for or in lieu of any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security. Except as otherwise provided as contemplated by Section 3.1 with respect to any series of Securities, in the case of any Security which is converted after any Regular Record Date and on or prior to the next succeeding Interest Payment Date, interest whose Stated Maturity is on such Interest Payment Date shall be payable on such Interest Payment Date notwithstanding such conversion, and such interest (whether or not punctually paid or duly provided for) shall be paid to the Holder in whose name that Security (or one or more Predecessor Securities) is registered at the close of business on such Regular Record Date. Except as otherwise expressly provided in the immediately preceding sentence, in the case of any Security which is converted, interest whose Stated Maturity is after the date of conversion of such Security shall not be payable.
Appears in 4 contracts
Samples: Indenture (Carnival PLC), Indenture (Carnival PLC), Indenture (Carnival PLC)
Payment of Interest; Interest Rights Preserved. (a) Interest on any Security which that is payable, payable and is punctually paid or duly provided for, for on any Interest Payment Date shall be paid to the Person in whose name such Security (or one or more Predecessor Securities) is registered at the close of business on the Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) or, at the option of the Company, by check mailed to the address of the Person entitled thereto as such address shall appear in the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holder.
(b) Any interest on any Security that is payable, payable but is not punctually paid or duly provided for, for on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause (i) or (ii) below:
(i) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest (a “Special Record Date”), which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, given to the Holders of such Securities at their addresses as they appear in the Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed given as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii).
(ii) The Company may make payment of any Defaulted Interest on Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) Subject to the foregoing provisions in this Section 3.08set forth herein relating to Record Dates, each Security delivered under pursuant to any provision of this Indenture in exchange or substitution for, or upon registration of transfer of, any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 4 contracts
Samples: Indenture (Shake Shack Inc.), Indenture (Shake Shack Inc.), Indenture (Shake Shack Inc.)
Payment of Interest; Interest Rights Preserved. (a) Interest Except as otherwise provided as contemplated by Section 2.01 with respect to any series of Securities, interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall will be paid to the Person in whose name such that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) or, at the option of the Company, by check mailed to the address of the Person entitled thereto as such address shall appear in the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holderinterest.
(b) Any interest on any Security that of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “"Defaulted Interest”") shall will forthwith cease to be payable to the Holder on the relevant regular Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the CompanyCompany together with interest thereon (to the extent permitted by law) at the rate of interest applicable to such Security, at its election in each case, as provided in clause (i) or (ii) below:
(i) The Company may elect to make payment of any Defaulted Interest (and interest thereon, if any) to the Persons in whose names the Securities of such Securities series (or their respective Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest (a “Special Record Date”)Interest, which shall will be fixed in the following manner. The Company shall will notify the Trustee in writing of the amount of Defaulted Interest (and interest thereon, if any) proposed to be paid on each Security of such Security series and the date of the proposed payment, and at the same time the Company shall will deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest (and interest thereon, if any) or shall will make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons persons entitled to such Defaulted Interest (and interest thereon, if any) as in this clause (i) provided. Thereupon the Trustee shall will fix a Special Record Date for the payment of such Defaulted Interest (and interest thereon, if any) which shall will be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall will promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall will cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders each Holder of Securities of such Securities series at their addresses his address as they appear it appears in the Security Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest (and interest thereon, if any) and the Special Record Date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall will be paid to the Persons in whose names the Securities of such Securities series (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall will no longer be payable pursuant to the following clause (ii).
(ii) The Company may make payment of any Defaulted Interest (and interest thereon, if any) on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clauseclause (ii), such manner of payment shall be deemed practicable by the Trustee.
(c) Subject to the foregoing provisions in of this Section 3.082.09, each Security delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, of or in exchange for or in lieu of any other Security shall will carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 4 contracts
Samples: Indenture (Louisiana Pacific Corp), Indenture (Louisiana Pacific Corp), Senior Indenture (CTS Corp)
Payment of Interest; Interest Rights Preserved. (a) Interest Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name such that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified office or agency maintained for such purpose pursuant to Section 3.01) or1002; provided, however, that at the option of the Company, interest -------- ------- on Securities of any series that bear interest may be paid (i) by check mailed to the address of the Person entitled thereto as such address it shall appear in on the Security Register or, in accordance with arrangements satisfactory to the Trustee, or (ii) by wire transfer to an account designated maintained by the Holder.
(b) Person entitled thereto as specified in the Security Register. Any interest on any Security that of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “"Defaulted Interest”") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause Clause (i1) or (ii2) below:
(i1) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such Securities series (or their respective Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest (a “Special Record Date”)Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such Security series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause Clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders each Holder of Securities of such Securities series at their addresses his address as they appear it appears in the Security Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such Securities series (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause Clause (ii2).
(ii2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clauseClause, such manner of payment shall be deemed practicable by the Trustee.
(c) . Subject to the foregoing provisions in of this Section 3.08Section, each Security delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, of or in exchange for or in lieu of any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 3 contracts
Samples: Indenture (Owens Corning), Indenture (Gap Inc), Indenture (Unova Inc)
Payment of Interest; Interest Rights Preserved. (a) Interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name such Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified office or agency of the Company maintained for such purpose pursuant to Section 3.01) or1002; provided, however, that each installment of interest may at the Company's option of be paid by (i) mailing a check for such interest, payable to or upon the Company, by check mailed to the address written order of the Person entitled thereto pursuant to Section 308, to the address of such Person as such address shall appear it appears in the Security Register or, in accordance with arrangements satisfactory to the Trustee, by wire or (ii) transfer to an account designated maintained by the Holder.
(b) payee located in the United States. Any interest on any Security that which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of his, her or its having been such a Holder, and such defaulted interest ("Defaulted Interest Interest") may be paid by the Company, at its election in each case, as provided in clause (i1) or (ii2) below:
(i1) The the Company may elect to make payment of any Defaulted Interest to the Persons in whose names such the Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest (a “Special Record Date”)Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date andDate, and in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders of such Securities at their addresses as they appear given in the Registermanner provided for in Section 106, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaidso given, such Defaulted Interest shall be paid to the Persons in whose names such the Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii2).; or
(ii2) The the Company may make payment of any Defaulted Interest on Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such the Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) . Subject to the foregoing provisions in of this Section 3.08Section, each Security delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, of or in exchange for or in lieu of any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 3 contracts
Samples: Indenture (Gb Holdings Inc), Indenture (Gb Property Funding Corp), Indenture (Gb Property Funding Corp)
Payment of Interest; Interest Rights Preserved. (a) Interest Except as otherwise provided as contemplated by Section 2.01 with respect to any series of Securities, interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall will be paid to the Person in whose name such that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) or, at the option of the Company, by check mailed to the address of the Person entitled thereto as such address shall appear in the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holderinterest.
(b) Any interest on any Security that of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall will forthwith cease to be payable to the Holder on the relevant regular Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the CompanyCompany together with interest thereon (to the extent permitted by law) at the rate of interest applicable to such Security, at its election in each case, as provided in clause (i) or (ii) below:
(i) The Company may elect to make payment of any Defaulted Interest (and interest thereon, if any) to the Persons in whose names the Securities of such Securities series (or their respective Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest (a “Special Record Date”)Interest, which shall will be fixed in the following manner. The Company shall will promptly notify the Trustee in writing of the amount of Defaulted Interest (and interest thereon, if any) proposed to be paid on each Security of such Security series and the date of the proposed payment, and at the same time the Company shall will deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest (and interest thereon, if any) or shall will make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons persons entitled to such Defaulted Interest (and interest thereon, if any) as in this clause (i) provided. Thereupon the Trustee shall will fix a Special Record Date for the payment of such Defaulted Interest (and interest thereon, if any) which shall will be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall will promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall will cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-first class postage prepaid, to the Holders each Holder of Securities of such Securities series at their addresses his address as they appear it appears in the Security Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest (and interest thereon, if any) and the Special Record Date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall will be paid to the Persons in whose names the Securities of such Securities series (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall will no longer be payable pursuant to the following clause (ii).
(ii) The Company may make payment of any Defaulted Interest (and interest thereon, if any) on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clauseclause (ii), such manner of payment shall be deemed practicable by the Trustee.
(c) Subject to the foregoing provisions in of this Section 3.082.09, each Security delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, of or in exchange for or in lieu of any other Security shall will carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 3 contracts
Samples: Indenture (TrueBlue, Inc.), Indenture (Avnet Inc), Indenture (Nanogen Inc)
Payment of Interest; Interest Rights Preserved. (a) Interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name such Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified office or agency of the Company maintained for such purpose pursuant to Section 3.01) or1002; provided, however, that each installment of interest may at the Company's option of be paid by mailing a check for such interest, payable to or upon the Company, by check mailed to the address written order of the Person entitled thereto pursuant to Section 308, to the address of such Person as such address shall appear it appears in the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holder.
(b) Security Register. Any interest on any Security that which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of his, her or its having been such a Holder, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate borne by the Securities (such defaulted interest and interest thereon herein collectively called "Defaulted Interest Interest") may be paid by the Company, at its election in each case, as provided in clause paragraph (i1) or (ii2) below:
(i1) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names such the Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest (a “Special Record Date”)Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date andDate, and in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders of such Securities at their addresses as they appear given in the Registermanner provided for in Section 106, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaidso given, such Defaulted Interest shall be paid to the Persons in whose names such the Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause paragraph (ii2).
(ii2) The Company may make payment of any Defaulted Interest on Securities in any other lawful manner not inconsistent with the requirements of any securities exchange or system on which such the Securities may be listed or of any automated quotation system on which any such Securities may be quotedeligible for trading, and upon such notice as may be required by such exchange or quotation system, as applicable, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) . Subject to the foregoing provisions in of this Section 3.08Section, each Security delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, of or in exchange for or in lieu of any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 3 contracts
Samples: Indenture (Qwest Communications International Inc), Indenture (Qwest Communications International Inc), Indenture (Qwest Communications International Inc)
Payment of Interest; Interest Rights Preserved. (a) Interest on any Security which that is payable, payable and is punctually paid or duly provided for, for on any Interest Payment Date shall be paid to the Person in whose name such Security (or one or more Predecessor Securities) is registered at the close of business on the Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) or, at the option of the Company, by check mailed given to the address of the Person entitled thereto as such address shall appear in the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holder.
(b) Any interest on any Security that is payable, payable but is not punctually paid or duly provided for, for on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause (i) or (ii) below:
(i) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest (a “Special Record Date”), which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee Company shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee Company shall promptly notify the Company Trustee of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, sent to the Holders of such Securities at their addresses as they appear in the Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed sent as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii).
(ii) The Company may make payment of any Defaulted Interest on Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) Subject to the foregoing provisions in this Section 3.08set forth herein relating to Record Dates, each Security delivered under pursuant to any provision of this Indenture in exchange or substitution for, or upon registration of transfer of, any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 3 contracts
Payment of Interest; Interest Rights Preserved. (a) Interest Except as otherwise provided as contemplated by Section 2.01 with respect to any series of Securities, interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall will be paid to the Person in whose name such that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) or, at the option of the Company, by check mailed to the address of the Person entitled thereto as such address shall appear in the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holderinterest.
(b) Any interest on any Security that of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall will forthwith cease to be payable to the Holder on the relevant regular Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the CompanyCompany together with interest thereon (to the extent permitted by law) at the rate of interest applicable to such Security, at its election in each case, as provided in clause (i) or (ii) below:
(i) The Company may elect to make payment of any Defaulted Interest (and interest thereon, if any) to the Persons in whose names the Securities of such Securities series (or their respective Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest (a “Special Record Date”)Interest, which shall will be fixed in the following manner. The Company shall will notify the Trustee in writing of the amount of Defaulted Interest (and interest thereon, if any) proposed to be paid on each Security of such Security series and the date of the proposed payment, and at the same time the Company shall will deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest (and interest thereon, if any) or shall will make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest (and interest thereon, if any) as in this clause (i) provided. Thereupon the Trustee shall will fix a Special Record Date for the payment of such Defaulted Interest (and interest thereon, if any) which shall will be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall will promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall will cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders each Holder of Securities of such Securities series at their addresses his address as they appear it appears in the Security Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest (and interest thereon, if any) and the Special Record Date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall will be paid to the Persons in whose names the Securities of such Securities series (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall will no longer be payable pursuant to the following clause (ii).
(ii) The Company may make payment of any Defaulted Interest (and interest thereon, if any) on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clauseclause (ii), such manner of payment shall be deemed practicable by the Trustee.
(c) Subject to the foregoing provisions in of this Section 3.082.09, each Security delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, of or in exchange for or in lieu of any other Security shall will carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 3 contracts
Samples: Indenture (Macy's, Inc.), Indenture (Federated Retail Holdings Inc), Indenture (Macy's Retail Holdings Inc)
Payment of Interest; Interest Rights Preserved. (a) Interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name such that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest notwithstanding at the cancellation office or agency of the Company maintained for such Security upon any transfer or exchange subsequent purpose pursuant to the Record Date. Payment Section 10.02; provided, however, that each instalment of interest on Securities shall be made any Security may at the Corporate Trust Office (except as otherwise specified Company’s option be paid by mailing a check for such interest, payable to or upon the written order of the Person entitled thereto pursuant to Section 3.01) or3.08, at the option of the Company, by check mailed to the address of such Person as it appears on the Security Register or by wire transfer to an account of the Person entitled thereto as such address account shall be provided to the Security Registrar and shall appear in on the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holder.
(b) Security Register. Any interest on any Security that of any series which is payable, payable but is not punctually paid or duly provided for, for on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause (i1) or (ii2) below:
(i1) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such Securities series (or their respective Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest (a “Special Record Date”)Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such Security series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit on or prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders each Holder of Securities of such Securities series at their addresses his address as they appear it appears in the Security Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such Securities series (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii2).
(ii2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) . Subject to the foregoing provisions in of this Section 3.08Section, each Security delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, of or in exchange for or in lieu of any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 3 contracts
Samples: Indenture (Ford Motor Co), Indenture (Ford Motor Co), Indenture (Ford Motor Co)
Payment of Interest; Interest Rights Preserved. (a) Interest on any Security which that is payable, payable and is punctually paid or duly provided for, for on any Interest Payment Date shall be paid to the Person in whose name such Security (or one or more Predecessor Securities) is registered at the close of business on the Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) or, at the option of the CompanyIssuer, by check mailed to the address of the Person entitled thereto as such address shall appear in the Register or, in accordance with arrangements satisfactory if provided pursuant to the TrusteeSection 3.01, by wire transfer to an account designated by the Holder.
(b) Any interest on any Security that is payable, payable but is not punctually paid or duly provided for, for on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the CompanyIssuer, at its election in each case, as provided in clause (i) or (ii) below:
(i) The Company Issuer may elect to make payment of any Defaulted Interest to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest (a “Special Record Date”), which shall be fixed in the following manner. The Company Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company Issuer of such Special Record Date and, in the name of and at the expense of the CompanyIssuer, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, given to the Holders each Holder of such Securities at their addresses as they appear in the Registermanner set forth in Section 16.04, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii).
(ii) The Company Issuer may make payment of any Defaulted Interest on Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company Issuer to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) Subject to the foregoing provisions in this Section 3.08set forth herein relating to Record Dates, each Security delivered under pursuant to any provision of this Indenture in exchange or substitution for, or upon registration of transfer of, any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 2 contracts
Samples: Indenture (Pfizer Inc), Indenture (Pfizer Investment Enterprises PTE LTD)
Payment of Interest; Interest Rights Preserved. (a) Interest The Holder of any Fully Registered Securities at the close of business on any record date with respect to any Interest Payment Date shall be entitled to receive the interest, if any, payable on such Interest Payment Date notwithstanding the cancellation of such Securities upon any transfer or exchange subsequent to the record date and prior to such Interest Payment Date, and, if provided for in the Board Resolution pursuant to Section 3.1, in the case of a Security which is payableissued between a record date and the initial Interest Payment Date relating to such record date, interest for the period beginning on the date of issue and is punctually paid or duly provided for, ending on any such initial Interest Payment Date shall be paid to the Person in whose name person to whom such Security (or one or more Predecessor shall have been originally issued. In the case of Coupon Securities) is registered at , the Holder of any Coupon shall be entitled to receive the interest, if any, payable on such Interest Payment Date, upon surrender on such Interest Payment Date of the Coupon appertaining thereto in respect of such interest. Except as otherwise specified as contemplated by Section 3.1, for Fully Registered Securities of a particular series the term "record date" as used in this Section 3.8 with respect to any Interest Payment Date shall mean the close of business on the Record last day of the calendar month preceding such Interest Payment Date for if such interest notwithstanding Interest Payment Date is the cancellation 15th day of a calendar month and shall mean the close of business on the 15th day of the calendar month preceding such Security upon any transfer Interest Payment Date if such Interest Payment Date is the first day of a calendar month, whether or exchange subsequent to the Record Date. Payment of interest on Securities not such day shall be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) or, at a Business Day in The City of New York. At the option of the CompanyIssuer, payment of interest on any Fully Registered Security may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Register or, in accordance with arrangements satisfactory Security Register. If and to the Trustee, by wire transfer to an account designated by extent the Holder.
(b) Any Issuer shall default in the payment of the interest due on any Security that is payable, but is not punctually paid or duly provided for, on any such Interest Payment Date (herein called “Defaulted Interest”) in respect of any Fully Registered Securities such defaulted interest shall forthwith cease to be payable to the Holder on the relevant Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the CompanyIssuer, at its election in each case, as provided in clause (ia) or (iib) below:
(i) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest (a “Special Record Date”), which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders of such Securities at their addresses as they appear in the Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii).
(ii) The Company may make payment of any Defaulted Interest on Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quoted, and upon such notice as may be required by such exchange or quotation system, as applicable, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) Subject to the foregoing provisions in this Section 3.08, each Security delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 2 contracts
Samples: Indenture (Itt Corp /Nv/), Indenture (Itt Corp /Nv/)
Payment of Interest; Interest Rights Preserved. (a) Interest on any Security which that is payable, payable and is punctually paid or duly provided for, for on any Interest Payment Date shall be paid to the Person in whose name such Security (or one or more Predecessor Securities) is registered at the close of business on the Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) or, at the option of the CompanyIssuers, by check mailed to the address of the Person entitled thereto as such address shall appear in the Register or, in accordance with arrangements satisfactory to the Trustee, or by wire transfer to an account designated by the Holder.
(b) Any interest on any Security that is payable, payable but is not punctually paid or duly provided for, for on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the CompanyIssuers, at its their election in each case, as provided in clause (i) or (ii) below:
(i) The Company Issuers may elect to make payment of any Defaulted Interest to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest (a “Special Record Date”), which shall be fixed in the following manner. The Company Issuers shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company Issuers shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee Issuers shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by Issuers give to the Trustee of the notice of the proposed payment. The Trustee Issuers shall promptly notify the Company Trustee of such Special Record Date and, in the name and at the expense of the CompanyIssuers, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, given to the Holders of such Securities at their addresses as they appear in the Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed given as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii).
(ii) The Company Issuers may make payment of any Defaulted Interest on Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company Issuers to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) Subject to the foregoing provisions in this Section 3.08set forth herein relating to Record Dates, each Security delivered under pursuant to any provision of this Indenture in exchange or substitution for, or upon registration of transfer of, any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 2 contracts
Samples: Indenture (J C Penney Co Inc), Indenture (J C Penney Co Inc)
Payment of Interest; Interest Rights Preserved. (a) Interest Unless otherwise provided for by the terms of the Securities of any Series as established in accordance with Section 3.01, interest on any Registered Security which that is payable, and is punctually paid or duly provided for, for on any Interest Payment Date shall unless otherwise provided in that Security be paid to the Person in whose name such that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such that interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Datepayment. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) or, at At the option of the Company, payment of interest on any Registered Security may be made by check in the currency designated for such payment pursuant to the terms of such Registered Security mailed to the address of the Person entitled thereto as such address shall appear in the Register or, in accordance with arrangements satisfactory to the Trustee, Registry or by wire transfer to an account in such currency designated by such Person in writing not later than 10 days prior to the Holderdate of such payment.
(b) Any interest on any Registered Security that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of his, her or its such Person having been such a Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause (i) or clause (ii) below:.
(i) The Company may elect to make payment payments of any Defaulted Interest to the Persons in whose names any such Registered Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest (a “Interest, which Special Record Date”), which Date shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Registered Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest Interest, which Special Record Date shall be not more than 15 calendar days and not nor less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class first class, postage prepaid, to each Holder at the Holders of such Securities at their addresses Holder’s address as they appear it appears in the RegisterRegistry, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Registered Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii)) of this Section 3.08.
(ii) The Company may make payment of any Defaulted Interest on Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities with respect to which there exists such Securities default may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) . Subject to the foregoing provisions in of this Section 3.08, each Security delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, or in exchange for, or in lieu of, any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which that were carried by such other Security.
Appears in 2 contracts
Samples: Indenture (Wal Mart Stores Inc), Indenture (Wal Mart Stores Inc)
Payment of Interest; Interest Rights Preserved. (a) Interest on any Security which is due and payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name such that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent payment; provided, however, that interest, if any, payable at Maturity will be payable to the Record DatePerson to whom principal shall be payable. Payment Unless otherwise provided with respect to the Securities of any series, payment of interest on Securities shall may be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) or, at the option of the Company, Issuer by check mailed or delivered to the address of the Person entitled thereto as such address shall appear in the Security Register or, in accordance with arrangements satisfactory to the Trustee, or by wire transfer to an a bank account designated maintained by the Holder.
(b) payee. Any interest on any Security that of any particular series which is due and payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the registered Holder on the relevant Regular Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may shall be paid by the CompanyIssuer, at its election in each case, as provided in clause (i1) or (ii2) below:
(i1) The Company the Issuer may elect to make payment of any Defaulted Interest to the Persons in whose names such the Securities of that series (or their respective Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest (a “Special Record Date”)Interest, which shall be fixed in the following manner. The Company Issuer shall notify the Senior Trustee for the Securities of such series in writing at least 30 days prior to the date of the proposed payment of the amount of Defaulted Interest proposed to be paid on each such Security of that series and the date of the proposed payment, and at the same time the Company Issuer shall deposit with the such Senior Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the such Senior Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee The Issuer shall fix a Special Record Date Date, and promptly give notice thereof to the Senior Trustee, for the payment of such Defaulted Interest Interest, which shall not be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and shall not be less than 10 calendar days after the receipt by the such Senior Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of Issuer, or such Special Record Date andSenior Trustee, in the name and at the expense of the CompanyIssuer, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders each Holder of such Securities of that series at their addresses his address as they appear it appears in the Register, not Security Register no less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities of that series (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii2).; or
(ii2) The Company the Issuer may make payment of any Defaulted Interest on Securities of any particular series in any other lawful manner not inconsistent with the requirements of any securities exchange Stock Exchange on which such the Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation systemStock Exchange, as applicable, ifunless, after notice is given by the Company Issuer to the Senior Trustee for the Securities of the such series of such proposed manner of payment pursuant to this clause, such manner of payment shall be deemed practicable impracticable by the such Senior Trustee.
(c) . Subject to the foregoing provisions in of this Section 3.08and Section 3.05, each Security delivered under this Senior Indenture in exchange or substitution for, or upon registration of transfer of, of or in exchange for or in lieu of any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 2 contracts
Samples: Senior Indenture (Prudential Funding (Asia) PLC), Senior Indenture
Payment of Interest; Interest Rights Preserved. (a) Interest on any Security which that is payable, payable and is punctually paid or duly provided for, for on any Interest Payment Date shall be paid to the Person in whose name such Security (or one or more Predecessor Securities) is registered at the close of business on the Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) or, at the option of the Company, by check mailed to the address of the Person entitled thereto as such address shall appear in the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holder.
(b) Any interest on any Security that is payable, payable but is not punctually paid or duly provided for, for on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause (i) or (ii) below:
(i) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest (a “Special Record Date”), which shall be fixed in the following manner. The Company shall notify the Trustee and the Holders in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the . The Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed fix or cause to be paid in respect of fixed each such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the and payment of date; provided that no such Defaulted Interest which Special Record Date shall be not more than 15 calendar days and not less than 10 calendar days prior to the related payment date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed paymentfor such Defaulted Interest. The Trustee Company shall promptly notify the Company Trustee in writing of such Special Record Date andDate. At least 15 days before the Special Record Date, the Company (or, upon Company Order, the Trustee in the name and at the expense of the Company) shall deliver in the manner provided in Section 17.04, shall cause to each Holder a notice of at his, her or its address as it appears in the proposed payment of such Defaulted Interest and Register that states the Special Record Date therefor Date, the related payment date and the amount of such interest to be mailed, first-class postage prepaid, to the Holders of such Securities at their addresses as they appear in the Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii)paid.
(ii) The Company may make payment of any Defaulted Interest on Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) Subject to the foregoing provisions in this Section 3.08set forth herein relating to Record Dates, each Security delivered under pursuant to any provision of this Indenture in exchange or substitution for, or upon registration of transfer of, any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 2 contracts
Samples: Indenture (TAL INTERNATIONAL CONTAINER Corp), Indenture (TAL INTERNATIONAL CONTAINER Corp)
Payment of Interest; Interest Rights Preserved. (a) Interest Except as otherwise established as contemplated by Section 301 with respect to Securities of any series, interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name such that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest notwithstanding at the cancellation office or agency of the Company maintained for such Security upon any transfer or exchange subsequent purpose pursuant to Section 1002; provided, however, that, except in the Record Date. Payment case of a Book-Entry Security, each installment of interest on Securities shall be made any Security may at the Corporate Trust Office Company's option be paid by (except as otherwise specified pursuant i) mailing a check for such interest, payable to Section 3.01) or, at or upon the option of the Company, by check mailed to the address written order of the Person entitled thereto as such address shall appear in the Register orpursuant to Section 308, in accordance with arrangements satisfactory to the Trustee, by address of such Person as it appears on the Security Register or (ii) wire transfer to an account designated maintained by the Holder.
(b) payee located inside the United States. Any Paying Agents will be identified in a supplemental indenture hereto. The Company may at any time designate additional Paying Agents or rescind the designation of any Paying Agent; however, the Company at all times will be required to maintain a Paying Agent in each Place of Payment for each series of Securities. Except as otherwise established as contemplated by Section 301 with respect to Securities of any series, any interest on any Security that which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “"Defaulted Interest”") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause paragraph (i1) or (ii2) below:
(i1) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names such the Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest (a “Special Record Date”)Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money in cash equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as provided in this clause providedclause. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall not be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders each Holder of such Securities at their addresses his address as they appear it appears in the Security Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause Clause (ii2).
(ii2) The Company may make payment of pay any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange or automated quotation system on which such Securities may be listed or of any automated quotation system on which any such Securities may be quotedtraded, and upon such notice as may be required by such exchange or automated quotation system, as applicable, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) . Subject to the foregoing provisions in of this Section 3.08Section, each Security delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, of or in exchange for or in lieu of any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 2 contracts
Samples: Indenture (Oakwood Homes Corp), Indenture (Oakwood Homes Corp)
Payment of Interest; Interest Rights Preserved. (a) Interest on any Security which that is payable, payable and is punctually paid or duly provided for, for on any Interest Payment Date shall be paid to the Person in whose name such Security (or one or more Predecessor Securities) is registered at the close of business on the Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) or, at the option of the CompanyIssuer, by check mailed to the address of the Person entitled thereto as such address shall appear in the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holder.
(b) Any interest on any Security that is payable, payable but is not punctually paid or duly provided for, for on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the CompanyIssuer, at its election in each case, as provided in clause (i) or (ii) below:
(i) The Company Issuer may elect to make payment of any Defaulted Interest to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest (a “Special Record Date”), which shall be fixed in the following manner. The Company Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company Issuer of such Special Record Date and, in the name and at the expense of the CompanyIssuer, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders of such Securities at their addresses as they appear in the Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii).
(ii) The Company Issuer may make payment of any Defaulted Interest on Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company Issuer to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) Subject to the foregoing provisions in this Section 3.08set forth herein relating to Record Dates, each Security delivered under pursuant to any provision of this Indenture in exchange or substitution for, or upon registration of transfer of, any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 2 contracts
Samples: Indenture (Healthpeak OP, LLC), Supplemental Indenture (Healthpeak Properties, Inc.)
Payment of Interest; Interest Rights Preserved. (a) Interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name such that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest notwithstanding at the cancellation office or agency of the Company maintained for such Security upon any transfer or exchange subsequent purpose pursuant to the Record Date. Payment Section 10.02; provided, however, that each installment of interest on Securities shall be made any Security may at the Corporate Trust Office (except as otherwise specified Company's option be paid by mailing a check for such interest, payable to or upon the written order of the Person entitled thereto pursuant to Section 3.01) or3.08, at the option of the Company, by check mailed to the address of such Person as it appears on the Security Register or by wire transfer to an account of the Person entitled thereto as such address account shall be provided to the Security Registrar and shall appear in on the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holder.
(b) Security Register. Any interest on any Security that of any series which is payable, payable but is not punctually paid or duly provided for, for on any Interest Payment Date (herein called “"Defaulted Interest”") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause (i1) or (ii2) below:
(i1) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such Securities series (or their respective Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest (a “Special Record Date”)Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such Security series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit on or prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders each Holder of Securities of such Securities series at their addresses his address as they appear it appears in the Security Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such Securities series (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii2).
(ii2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) . Subject to the foregoing provisions in of this Section 3.08Section, each Security delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, of or in exchange for or in lieu of any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 2 contracts
Samples: Indenture (Ford Motor Co), Indenture (Mpower Holding Corp)
Payment of Interest; Interest Rights Preserved. (a) Interest The Holder of any Fully Registered Securities at the close of business on any record date with respect to any Interest Payment Date shall be entitled to receive the interest, if any, payable on such Interest Payment Date notwithstanding the cancelation of such Securities upon any transfer or exchange subsequent to the record date and prior to such Interest Payment Date, and, if provided for in the Board Resolution pursuant to Section 3.1, in the case of a Security which is payableissued between a record date and the initial Interest Payment Date relating to such record date, interest for the period beginning on the date of issue and is punctually paid or duly provided for, ending on any such initial Interest Payment Date shall be paid to the Person in whose name person to whom such Security (or one or more Predecessor shall have been originally issued. In the case of Coupon Securities) is registered at , the Holder of any Coupon shall be entitled to receive the interest, if any, payable on such Interest Payment Date, upon surrender on such Interest Payment Date of the Coupon appertaining thereto in respect of such interest. Except as otherwise specified as contemplated by Section 3.1, for Fully Registered Securities of a particular series the term "record date" as used in this Section 3.8 with respect to any Interest Payment Date shall mean the close of business on the Record last day of the calendar month preceding such Interest Payment Date for if such interest notwithstanding Interest Payment Date is the cancellation fifteenth day of a calendar month and shall mean the close of business on the fifteenth day of the calendar month preceding such Security upon any transfer Interest Payment Date if such Interest Payment Date is the first day of a calendar month, whether or exchange subsequent to the Record Date. Payment of interest on Securities not such day shall be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) or, at a New York Business Day. At the option of the CompanyIssuer, payment of interest on any Fully Registered Security may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Register or, in accordance with arrangements satisfactory Security Register. If and to the Trustee, by wire transfer to an account designated by extent the Holder.
(b) Any Issuer shall default in the payment of the interest due on any Security that is payable, but is not punctually paid or duly provided for, on any such Interest Payment Date (herein called “Defaulted Interest”) in respect of any Fully Registered Securities such defaulted interest shall forthwith cease to be payable to the Holder on the relevant Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the CompanyIssuer, at its election in each case, as provided in clause (i1) or (ii2) below:
(i) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest (a “Special Record Date”), which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders of such Securities at their addresses as they appear in the Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii).
(ii) The Company may make payment of any Defaulted Interest on Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quoted, and upon such notice as may be required by such exchange or quotation system, as applicable, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) Subject to the foregoing provisions in this Section 3.08, each Security delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 2 contracts
Samples: Indenture (Itt Corp /Nv/), Indenture (Itt Corp /Nv/)
Payment of Interest; Interest Rights Preserved. (a) Interest on any Security which that is payable, payable and is punctually paid or duly provided for, for on any Interest Payment Date shall be paid to the Person in whose name such Security (or one or more Predecessor Securities) is registered at the close of business on the Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) or, at the option of the Company, by check mailed to the address of the Person entitled thereto as such address shall appear in the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holder.
(b) Any interest on any Security that is payable, payable but is not punctually paid or duly provided for, for on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause (i) or (ii) below:
(i) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest (a “Special Record Date”), which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, given to the Holders each Holder of such Securities at their addresses as they appear in the Registermanner set forth in Section 16.04, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii).
(ii) The Company may make payment of any Defaulted Interest on Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) Subject to the foregoing provisions in this Section 3.08set forth herein relating to Record Dates, each Security delivered under pursuant to any provision of this Indenture in exchange or substitution for, or upon registration of transfer of, any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 2 contracts
Samples: Indenture (Green Bancorp, Inc.), Indenture (Green Bancorp, Inc.)
Payment of Interest; Interest Rights Preserved. (a) Interest The Holder of any Securities at the close of business on any record date with respect to any Interest Payment Date shall be entitled to receive the interest, if any, payable on such Interest Payment Date notwithstanding the cancellation of such Securities upon any registration of transfer or exchange subsequent to the record date and prior to such Interest Payment Date, and, if provided for in the Board Resolution pursuant to Section 3.1, in the case of a Security which is payableissued between a record date and the initial Interest Payment Date relating to such record date, interest for the period beginning on the date of issue and is punctually paid or duly provided for, ending on any such initial Interest Payment Date shall be paid to the Person in whose name person to whom such Security (or one or more Predecessor Securities) is registered at shall have been originally issued. Except as otherwise specified as contemplated by Section 3.1, for Securities of a particular series the term "record date" as used in this Section with respect to any Interest Payment Date shall mean the close of business on the Record last day of the calendar month preceding such Interest Payment Date for if such interest notwithstanding Interest Payment Date is the cancellation fifteenth day of a calendar month and shall mean the close of business on the fifteenth day of the calendar month preceding such Security upon any transfer Interest Payment Date if such Interest Payment Date is the first day of a calendar month, whether or exchange subsequent to the Record Date. Payment of interest on Securities not such day shall be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) or, at a Business Day. At the option of the CompanyIssuer, payment of interest on any Security may be made by check mailed to the address of the Person person entitled thereto (which shall be the Depository in the case of Global Securities) as such address shall appear in the Register or, in accordance with arrangements satisfactory Securities Register. If and to the Trustee, by wire transfer to an account designated by extent the Holder.
(b) Any Issuer shall default in the payment of the interest due on any Security that is payable, but is not punctually paid or duly provided for, on any such Interest Payment Date (herein called “Defaulted Interest”) in respect of any Securities, such defaulted interest shall forthwith cease to be payable to the Holder on the relevant Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the Company, Issuer at its election in each case, as provided in clause (i1) or (ii2) below:
(i) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest (a “Special Record Date”), which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders of such Securities at their addresses as they appear in the Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii).
(ii) The Company may make payment of any Defaulted Interest on Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quoted, and upon such notice as may be required by such exchange or quotation system, as applicable, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) Subject to the foregoing provisions in this Section 3.08, each Security delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 2 contracts
Samples: Indenture (Idacorp Trust Iii), Indenture (Idacorp Trust Iii)
Payment of Interest; Interest Rights Preserved. (a) Interest on any Security of any series which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name such that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest notwithstanding the cancellation in respect of Securities of such Security upon any transfer or exchange subsequent to the Record Dateseries. Payment The initial payment of interest on Securities any Security of any series which is issued between a Regular Record Date and the related Interest Payment Date shall be made at payable as provided in such Security or in the Corporate Trust Office (except as otherwise specified Board Resolution, Officers’ Certificate or supplemental indenture pursuant to Section 3.01) or, at the option of the Company, by check mailed 301 with respect to the address related series of the Person entitled thereto as such address shall appear in the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holder.
(b) Securities. Any interest on any Security that which is payable, but is not punctually timely paid or duly provided for, on any Interest Payment Date for Securities of such series (herein called “Defaulted Interest”) shall forthwith cease to be payable to the registered Holder on the relevant Regular Record Date entitled to such interest by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the CompanyCompany or the Guarantor, at its election in each case, as provided in clause (i1) or (ii2) below:
(i1) The Company or the Guarantor may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such Securities series in respect of which interest is in default (or their respective Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest (a “Special Record Date”)Interest, which shall be fixed in the following manner. The Company or the Guarantor, as applicable, shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company or the Guarantor, as applicable, shall deposit with the Trustee or Paying Agent an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements reasonably satisfactory to the Trustee or Paying Agent for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the CompanyCompany or the Guarantor, as applicable, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, given to the Holders each Holder of a Security of such Securities at their addresses as they appear series (in the Register, manner set forth in Section 106) not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaidso given, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such Securities series (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii2).
(ii2) The Company or the Guarantor, as applicable, may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which such the Securities of the series in respect of which interest is in default may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange (or quotation system, as applicableby the Trustee if the Securities are not listed), if, after notice given by the Company or the Guarantor, as applicable, to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) . Subject to the foregoing provisions in of this Section 3.08Section, each Security delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, of or in exchange for or in lieu of any other Security shall carry all the rights to interest accrued and unpaid, and interest to accrue, which that were carried by such other Security.
Appears in 2 contracts
Samples: Senior Indenture (Third Point Reinsurance Ltd.), Senior Indenture (Third Point Re (USA) Holding Inc.)
Payment of Interest; Interest Rights Preserved. (a) Interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall shall, if so provided in such Security, be paid to the Person in whose name such that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent payment. Unless otherwise provided with respect to the Record Date. Payment Securities of any series, payment of interest on Securities shall may be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) or, at the option of the Company, Issuer may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register or, in accordance with arrangements satisfactory to the Trustee, or by wire transfer of funds to an the Person entitled thereto at a bank account designated by maintained within the Holder.
(b) United States. Any interest on any Security that of any particular series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “"Defaulted Interest”") shall forthwith cease to be payable to the registered Holder on the relevant Regular Record Date by virtue of his, her or its having been such a Holder, ; and such Defaulted Interest may be paid by the Company, Issuer at its election in each case, as provided in clause (i1) or (ii2) below:
(i1) The Company Issuer may elect to make payment of any Defaulted Interest to the Persons in whose names such the Securities of that series (or their respective Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest (a “Special Record Date”)Interest, which shall be fixed in the following manner. The Company Issuer shall notify the Trustee for the Securities of such series in writing of the amount of Defaulted Interest proposed to be paid on each such Security of that series and the date of the proposed payment, and at the same time the Company Issuer or any of the Guarantors shall deposit with the such Trustee an amount of money in the currency or currency unit in which the Securities of such series are payable (except as otherwise specified pursuant to Section 301 for the Securities of such series), equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the such Trustee for such deposit on or prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the such Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall not be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the such Trustee of the notice of the proposed payment. The Such Trustee shall promptly notify the Company Issuer of such Special Record Date and, in the name and at the expense of the Company, Issuer shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders each Holder of such Securities of that series at their addresses his address as they appear it appears in the Register, Security Register not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such the Securities of that series (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii2).
(ii2) The Company Issuer or any of the Guarantors may make payment of any Defaulted Interest on Securities of any particular series in any other lawful manner not inconsistent with the requirements of any securities exchange on which such the Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice is given by the Company Issuer to the Trustee for the Securities of such series of the proposed manner of payment pursuant to this clause, such manner of payment shall be deemed practicable by the such Trustee.
(c) . Subject to the foregoing provisions in of this Section 3.08307 and Section 305, each Security delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, of or in exchange for or in lieu of any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 2 contracts
Samples: Indenture (Brandywine Realty Trust), Indenture (Brandywine Operating Partnership Lp /Pa)
Payment of Interest; Interest Rights Preserved. (a) Interest on any Security Note which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name such Security (or one or more Predecessor Securities) Note is registered at the close of business on the Regular Record Date for such interest notwithstanding the cancellation of such Security Note upon any transfer or exchange subsequent to the Regular Record Date. Payment of interest on Securities Notes shall be made at the Corporate Trust Office or in accordance with the applicable procedures of the Depository (except as otherwise specified pursuant to Section 3.012.01) or, at the option of the Company, Company by check mailed to the address of the Person entitled thereto as such address shall appear in the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holder.
(b) Any If the Company defaults in a payment of any interest on any Security that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date Note (herein called “Defaulted Interest”) ), then such Defaulted Interest shall forthwith cease to be payable to the Holder on the relevant Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause (i) or (ii) below:of this Section 3.08(b):
(i) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names such Securities (or their respective Predecessor Securities) Notes are registered at the close of business on a special record date for the payment of such Defaulted Interest (a “Special Record Date”), which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security Note and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, given to the Holders each Holder of such Securities at their addresses as they appear in the RegisterNotes, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed given as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) Notes are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii).
(ii) The Company may make payment of any Defaulted Interest on Securities Notes in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities Notes may be listed or of any automated quotation system on which any such Securities Notes may be quoted, and upon such notice as may be required by such exchange or quotation system, as applicable, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) Subject to the foregoing provisions in this Section 3.08, each Security Note delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, any other Security Note shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other SecurityNote.
Appears in 2 contracts
Samples: Indenture (Frontier Communications Corp), Indenture (Frontier Communications Corp)
Payment of Interest; Interest Rights Preserved. (a) Interest Unless otherwise provided for by the terms of the Securities of any Series as established in accordance with Section 3.01, interest on any Registered Security which that is payable, and is punctually paid or duly provided for, for on any Interest Payment Date shall unless otherwise provided in that Security be paid to the Person in whose name such that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such that interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Datepayment. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) or, at At the option of the Company, payment of interest on any Registered Security may be made by check in the currency designated for such payment pursuant to the terms of such Registered Security mailed to the address of the Person entitled thereto as such address shall appear in the Register or, in accordance with arrangements satisfactory to the Trustee, or by wire transfer to an account in such currency designated by such Person in writing not later than ten days prior to the Holderdate of such payment.
(b) Any interest on any Registered Security that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “"Defaulted Interest”") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of his, her or its his having been such a Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause (i) or clause (ii) below:.
(i) The Company may elect to make payment payments of any Defaulted Interest to the Persons in whose names any such Registered Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest (a “Interest, which Special Record Date”), which Date shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Registered Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest Interest, which Special Record Date shall be not more than 15 calendar days and not nor less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class first class, postage prepaid, to the Holders of such Securities each Holder at their addresses his address as they appear it appears in the Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Registered Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii)) of this Section 3.08.
(ii) The Company may make payment of any Defaulted Interest on Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities with respect to which there exists such Securities default may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) . Subject to the foregoing provisions in of this Section 3.08, each Security delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, or in exchange for, or in lieu of, any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which that were carried by such other Security.
Appears in 2 contracts
Samples: Indenture (Wal Mart Stores Inc), Indenture (Wal Mart Stores Inc)
Payment of Interest; Interest Rights Preserved. (a) Interest on any Security which that is payable, payable and is punctually paid or duly provided for, for on any Interest Payment Date shall be paid to the Person in whose name such Security (or one or more Predecessor Securities) is registered at the close of business on the Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) or, at the option of the CompanyCompanies, by check mailed to the address of the Person entitled thereto as such address shall appear in the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holder.
(b) Any interest on any Security that is payable, payable but is not punctually paid or duly provided for, for on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the CompanyCompanies, at its their election in each case, as provided in clause (i) or (ii) below:
(i) The Company Companies may elect to make payment of any Defaulted Interest to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest (a “Special Record Date”), which shall be fixed in the following manner. The Company Companies shall notify the Trustee and the Holders in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company . The Companies shall deposit with the Trustee an amount of money equal to the aggregate amount proposed fix or cause to be paid in respect of fixed each such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the and payment of date; provided that no such Defaulted Interest which Special Record Date shall be not more than 15 calendar days and not less than 10 calendar days prior to the related payment date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed paymentfor such Defaulted Interest. The Trustee Companies shall promptly notify the Company Trustee in writing of such Special Record Date andDate. At least 15 days before the Special Record Date, the Companies (or, upon Company Order, the Trustee in the name and at the expense of the CompanyCompanies) shall deliver in the manner provided in Section 17.04, shall cause to each Holder a notice of at his, her or its address as it appears in the proposed payment of such Defaulted Interest and Register that states the Special Record Date therefor Date, the related payment date and the amount of such interest to be mailed, first-class postage prepaid, to the Holders of such Securities at their addresses as they appear in the Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii)paid.
(ii) The Company Companies may make payment of any Defaulted Interest on Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company Companies to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) Subject to the foregoing provisions in this Section 3.08set forth herein relating to Record Dates, each Security delivered under pursuant to any provision of this Indenture in exchange or substitution for, or upon registration of transfer of, any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 2 contracts
Samples: Indenture (Triton International LTD), Indenture (TAL INTERNATIONAL CONTAINER Corp)
Payment of Interest; Interest Rights Preserved. (a) Interest Unless otherwise specified as contemplated by Section 301, interest on any Debt Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name such that Debt Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, except that in the case of a Debt Security issued between a Regular Record Date and the initial Interest Payment Date relating to such Regular Record Date, interest notwithstanding for the cancellation period beginning on the date of issue and ending on such Security upon any transfer or exchange subsequent initial Interest Payment Date shall be paid to the Record Dateperson to whom such Debt Security shall have been originally issued. Payment of interest on Securities shall be made at the Corporate Trust Office (except as Unless otherwise specified pursuant to as contemplated by Section 3.01) or301, at the option of the Company, payment of interest on any Debt Security may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Register orSecurity Register. Unless otherwise specified as contemplated by Section 301, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holder.
(b) Any any interest on any Debt Security that of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “"Defaulted Interest”") shall forthwith cease to be payable to the registered Holder on the relevant Regular Record Date by virtue of his, her or its his having been such a Holder, and such Defaulted Interest may be paid by the CompanyCompany or the Guarantor, at its election in each case, as provided in clause Clause (i1) or (ii2) below:
(i1) The Company or the Guarantor may elect to make payment of any Defaulted Interest to the Persons in whose names the Debt Securities of such Securities series (or their respective Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest (a “Special Record Date”)Interest, which shall be fixed in the following manner. The Company or the Guarantor shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Debt Security of such Security series and the date of the proposed payment, and at the same time the Company or the Guarantor, as the case may be, shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company or the Guarantor, as the case may be, of such Special Record Date and, in the name and at the expense of the CompanyCompany or the Guarantor, as the case may be, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders each Holder of Debt Securities of such Securities series at their addresses his address as they appear it appears in the Security Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names the Debt Securities of such Securities series (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii2).
(ii2) The Company or the Guarantor may make payment of any Defaulted Interest on the Debt Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which such the Debt Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clauseClause, such manner of payment shall be deemed practicable by the Trustee.
(cb) The provisions of this Section 307(b) may be made applicable to any series of Debt Securities issued pursuant to Section 301 (with such modifications, additions or substitutions as may be specified pursuant to such Section 301). The interest rate (or the spread and/or spread multiplier used to calculate such interest rate, if applicable) on any Debt Security of such series may be reset by the Company at its option on the date or dates specified in such Debt Security (each, an "Optional Reset Date"). The Company may exercise such option with respect to any such Debt Security by notifying the Trustee of such exercise at least 45 but not more than 60 calendar days prior to an Optional Reset Date for such Debt Security. If the Company so notifies the Trustee of such exercise, not later than 40 calendar days prior to such Optional Reset Date the Trustee shall transmit, in the manner provided for in Section 106, to the Holder of such Debt Security a notice (the "Reset Notice") indicating (i) that the Company has elected to reset the interest rate (or the spread and/or spread multiplier used to calculate such interest rate, if applicable), (ii) such new interest rate (or such new spread and/or spread multiplier, if applicable) and (iii) the provisions, if any, for redemption by the Company during the period from such Optional Reset Date to the next Optional Reset Date or, if there is no such next Optional Reset Date, to the Stated Principal Maturity of such Debt Security (each such period, a "Subsequent Interest Period"), including the date or dates on which, or the period or periods during which, and the price or prices at which such redemption may occur during such Subsequent Interest Period. Notwithstanding the foregoing, not later than 20 calendar days prior to the applicable Optional Reset Date for a Debt Security, the Company may, at its option, revoke the interest rate (or the spread and/or spread multiplier used to calculate such interest rate, if applicable) provided for in the Reset Notice and establish an interest rate (or a spread and/or spread multiplier used to calculate such interest rate, if applicable) that is higher than the interest rate (or the spread and/or spread multiplier, if applicable) provided for in the Reset Notice, for the Subsequent Interest Period by causing the Trustee to transmit, in the manner provided for in Section 106, notice of such higher interest rate (or such higher spread and/or spread multiplier, if applicable) to the Holder of such Debt Security. Such notice shall be irrevocable. All Debt Securities with respect to which the interest rate (or the spread and/or spread multiplier used to calculate such interest rate, if applicable) is reset on an Optional Reset Date, and with respect to which the Holders of such Debt Securities have not surrendered such Debt Securities for repayment (or have validly revoked any such surrender) pursuant to the next succeeding paragraph, will bear such higher interest rate (or such higher spread and/or spread multiplier, if applicable). If the provisions of Section 307(b) are made applicable to any Debt Security and the Company notifies the Trustee of the exercise of its option to reset the interest rate (or the spread and/or spread multiplier used to calculate such interest rate, if applicable) on such Debt Security on an Optional Reset Date, the Holder of such Debt Security will have the option to elect repayment by the Company of such Debt Security on such Optional Reset Date at a price equal to the principal amount thereof plus any accrued interest to such Optional Reset Date. In order to obtain repayment of such Debt Security on such Optional Reset Date, the Holder must follow the procedures set forth in Section 1503 for repayment at the option of Holders, except that (i) the period for delivery of such Debt Security or notification to the Trustee shall be at least 25 but not more than 35 calendar days prior to such Optional Reset Date and (ii) if the Holder has surrendered such Debt Security for repayment following receipt of the Reset Notice, the Holder may revoke such surrender for repayment by written notice to the Trustee received prior to 5:00 P.M., New York City time, on the tenth calendar day prior to such Optional Reset Date. Subject to the foregoing provisions in of this Section 3.08and Section 305, each Debt Security delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, of or in exchange for or in lieu of any other Debt Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Debt Security.
Appears in 2 contracts
Samples: Indenture (Countrywide Home Loans Inc), Indenture (Countrywide Home Loans Inc)
Payment of Interest; Interest Rights Preserved. (a) Interest on any Security which that is payable, payable and is punctually paid or duly provided for, for on any Interest Payment Date shall be paid to the Person in whose name such Security (or one or more Predecessor Securities) is registered at the close of business on the Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) or, at the option of the CompanyCompanies, by check mailed to the address of the Person entitled thereto as such address shall appear in the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holder.
(b) Any interest on any Security that is payable, payable but is not punctually paid or duly provided for, for on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the CompanyCompanies, at its their election in each case, as provided in clause (i) or (ii) below:
(i) The Company Companies may elect to make payment of any Defaulted Interest to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest (a “Special Record Date”), which shall be fixed in the following manner. The Company Companies shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company Companies shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee Companies shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee Companies shall promptly notify the Company Trustee of such Special Record Date andDate, in and the name and at the expense of the Company, Companies shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders of such Securities at their addresses as they appear in the Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii).
(ii) The Company Companies may make payment of any Defaulted Interest on Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company Companies to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(iii) Notwithstanding the foregoing, any interest which is paid prior to the expiration of the 30-day period set forth in Section 7.01(a) shall be paid to Holders as of the Record Date for the Interest Payment Date for which interest has not been paid.
(c) Subject to the foregoing provisions in this Section 3.08set forth herein relating to Record Dates, each Security delivered under pursuant to any provision of this Indenture in exchange or substitution for, or upon registration of transfer of, any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 2 contracts
Samples: Indenture (NXP Semiconductors N.V.), Indenture (NXP Funding LLC)
Payment of Interest; Interest Rights Preserved. (a) Interest Unless otherwise specified as contemplated by Section 3.01, interest on any Fully Registered Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name such that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest notwithstanding if provided for in the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified Board Resolution pursuant to Section 3.01) or. In the case of a Security issued between a record date and the initial Interest Payment Date relating to such record date, at interest for the option period beginning on the date of the Company, by check mailed issue and ending on such initial Interest Payment Date shall be paid to the address of the Person entitled thereto as to whom such address Security shall appear in the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holder.
(b) have been originally issued. Any interest on any Fully Registered Security that which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of his, her or its having been such a Holder, ; and such Defaulted Interest may be paid by the Company, Company at its election in each case, as provided in clause Clause (i1) or Clause (ii2) below:
(i1) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names such Fully Registered Securities (or their respective its Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest (a “Special Record Date”)Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Fully Registered Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause Clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not nor less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date Date, and, in the name and at the expense of the Company, Company shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class first class, postage prepaid, to the Holders each Holder of such Securities a Fully Registered Security at their addresses his address as they appear it appears in the Security Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed given as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such the Fully Registered Securities (or their respective its Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause Clause (ii2).
(ii2) The Company may make payment of any Defaulted Interest on Securities any such Fully Registered Security in any other lawful manner not inconsistent with the requirements of any securities exchange on which such the Fully Registered Securities of that series may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clauseClause, such manner of payment shall be deemed practicable by the Trustee.
(c) . Subject to the foregoing provisions in of this Section 3.08Section, each Security of any series delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, of or in exchange for or in lieu of any other Security of such series shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 2 contracts
Samples: Subordinated Notes Indenture (First Midwest Bancorp Inc), Subordinated Notes Indenture (First Midwest Bancorp Inc)
Payment of Interest; Interest Rights Preserved. (a) Interest Unless otherwise specified as contemplated by Section 3.01, interest on any Fully Registered Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name such that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest notwithstanding if provided for in the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified Board Resolution pursuant to Section 3.01) or. In the case of a Security issued between a record date and the initial Interest Payment Date relating to such record date, at interest for the option period beginning on the date of the Company, by check mailed issue and ending on such initial Interest Payment Date shall be paid to the address of the Person entitled thereto as to whom such address Security shall appear in the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holder.
(b) have been originally issued. Any interest on any Fully Registered Security that which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of his, her or its having been such a Holder, ; and such Defaulted Interest may be paid by the Company, Company at its election in each case, as provided in clause Clause (i1) or Clause (ii2) below:
(i1) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names such Fully Registered Securities (or their respective its Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest (a “Special Record Date”)Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Fully Registered Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause Clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not nor less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date Date, and, in the name and at the expense of the Company, Company shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class first class, postage prepaid, to the Holders each Holder of such Securities a Fully Registered Security at their addresses his address as they appear it appears in the Security Register, not less than 10 calendar days prior to such Special Record Date. The Trustee may, in its discretion, in the name and at the expense of the Company cause a similar notice to be published at least once in an Authorized Newspaper in the Place of Payment, but such publication shall not be a condition precedent to the establishment of such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed given as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such the Fully Registered Securities (or their respective its Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause Clause (ii2).
(ii2) The Company may make payment of any Defaulted Interest on Securities any such Fully Registered Security in any other lawful manner not inconsistent with the requirements of any securities exchange on which such the Fully Registered Securities of that series may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clauseClause, such manner of payment shall be deemed practicable by the Trustee.
(c) . Subject to the foregoing provisions in of this Section 3.08Section, each Security of any series delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, of or in exchange for or in lieu of any other Security of such series shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 2 contracts
Samples: Subordinated Notes Indenture (Bok Financial Corp Et Al), Subordinated Notes Indenture (First Niagara Financial Group Inc)
Payment of Interest; Interest Rights Preserved. (a) Interest on any Security which that is payable, payable and is punctually paid or duly provided for, for on any Interest Payment Date shall be paid to the Person in whose name such Security (or one or more Predecessor Securities) is registered at the close of business on the Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) or, at the option of the CompanyIssuer, by check mailed to the address of the Person entitled thereto as such address shall appear in the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holder.
(b) Any interest on any Security that is payable, payable but is not punctually paid or duly provided for, for on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the CompanyIssuer, at its election in each case, as provided in clause (i) or (ii) below:
(i) The Company Issuer may elect to make payment of any Defaulted Interest to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest (a “Special Record Date”), which shall be fixed in the following manner. The Company Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company Issuer of such Special Record Date and, in the name and at the expense of the CompanyIssuer, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders of such Securities at their addresses as they appear in the Register, or to be transmitted to DTC for posting through its “Legal Notice Service” (LENS) or a successor system thereof, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed or transmitted as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii).
(ii) The Company Issuer may make payment of any Defaulted Interest on Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by any such exchange or quotation system, as applicableexchange, if, after notice given by the Company Issuer to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) Subject to the foregoing provisions in this Section 3.08set forth herein relating to Record Dates, each Security delivered under pursuant to any provision of this Indenture in exchange or substitution for, or upon registration of transfer of, any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 2 contracts
Samples: Indenture (SL Green Operating Partnership, L.P.), Indenture (SL Green Operating Partnership, L.P.)
Payment of Interest; Interest Rights Preserved. (a) Interest Unless otherwise provided with respect to such Security pursuant to Section 301, interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name such that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified office or agency of the Company maintained for such purpose pursuant to Section 3.01) or1002; provided, however, that each installment of interest may at the Company's option of be paid by (i) mailing a check for such interest, payable to or upon the Company, by check mailed to the address written order of the Person entitled thereto pursuant to Section 308, to the address of such Person as such address shall appear it appears in the Security Register or, in accordance with arrangements satisfactory to the Trustee, by wire or (ii) transfer to an account designated located in the United States maintained by the Holder.
(b) payee. Any interest on any Security that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of his, her or its having been such a Holder, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate borne by the Securities (such defaulted interest and interest thereon herein collectively called "Defaulted Interest Interest") may be paid by the Company, at its election in each case, as provided in clause (i1) or (ii2) below:
(i1) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names any such Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest (a “Special Record Date”)Interest, which shall be fixed in the following manner. : The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements reasonably satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause (1) provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders of such Securities at their addresses as they appear given in the Registermanner provided for in Section 106, not less than 10 calendar days prior to such Special Record Date. Notice Date notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaidso given, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii2).
(ii2) The Company may make payment of any Defaulted Interest on Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) . If any installment of interest the Stated Maturity of which is on or prior to the Redemption Date for any Security called for redemption pursuant to Article Eleven is not paid or duly provided for on or prior to the Redemption Date in accordance with the foregoing provisions of this Section, such interest shall be payable as part of the Redemption Price of such Securities. Subject to the foregoing provisions in of this Section 3.08Section, each Security delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, of or in exchange for or in lieu of any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which that were carried by such other Security.
Appears in 2 contracts
Samples: Senior Indenture (Teligent Inc), Subordinated Indenture (Teligent Inc)
Payment of Interest; Interest Rights Preserved. (a) Interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name such Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified office or agency of the Company maintained for such purpose pursuant to Section 3.01) or1002; provided, however, that each installment of interest may at the Company's option of be paid by mailing a check for such interest, payable to or upon the Company, by check mailed to the address written order of the Person entitled thereto pursuant to Section 308, to the address of such Person as such address shall appear it appears in the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holder.
(b) Security Register. Any interest on any Security that which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of his, her or its having been such a Holder, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate borne by the Securities (such defaulted interest and interest thereon herein collectively called "Defaulted Interest Interest") may be paid by the Company, at its election in each case, as provided in clause paragraph (i1) or (ii2) below:
(i1) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names such the Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest (a “Special Record Date”)Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date andDate, and in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders of such Securities at their addresses as they appear given in the Registermanner provided for in Section 106, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaidso given, such Defaulted Interest shall be paid to the Persons in whose names such the Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause paragraph (ii2).
(ii2) The Company may make payment of any Defaulted Interest on Securities in any other lawful manner not inconsistent with the requirements of any securities exchange or system on which such the Securities may be listed or of any automated quotation system on which any such Securities may be quotedeligible for trading, and upon such notice as may be required by such exchange or quotation system, as applicable, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) Subject to the foregoing provisions in this Section 3.08, each Security delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 1 contract
Payment of Interest; Interest Rights Preserved. (a) Each Debt Security will bear interest at the then applicable Interest Rate from and including each Interest Payment Date or, in the case of the first interest period, the original date of issuance of such Debt Security to, but excluding, the next succeeding Interest Payment Date or, in the case of the last interest period, the Redemption Date, and on any overdue principal and any overdue installment of interest (including Defaulted Interest), payable on each Interest Payment Date, commencing on May 8, 2004. Interest on any Debt Security which that is payable, payable and is punctually paid or duly provided for, for on any Interest Payment Date shall be paid to the Person in whose name such Debt Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest notwithstanding the cancellation of such Debt Security upon any transfer or exchange subsequent to the Regular Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) or, at the option of the CompanyIssuer, by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register or, in accordance with arrangements satisfactory to the Trustee, at the option of the Holder, by wire transfer to an account designated by the Holder.
(b) Any interest on any Debt Security that is payable, payable but is not punctually paid or duly provided for, for on any Interest Payment Date (herein called “"Defaulted Interest”") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the CompanyIssuer, at its election in each case, as provided in clause (i1) or (ii2) below:
(i1) The Company Issuer may elect to make payment of any Defaulted Interest to the Persons in whose names such Debt Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest (a “Special Record Date”)Interest, which shall be fixed in the following manner. The Company Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Debt Security and the date of the proposed payment, and at the same time the Company Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. payment The Trustee shall promptly notify the Company Issuer of such Special Record Date and, in the name and at the expense of the CompanyIssuer, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders of such Debt Securities at their addresses as they appear in the Security Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Debt Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii2).
(ii2) The Company Issuer may make payment of any Defaulted Interest on Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such the Debt Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company Issuer to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) Subject to the foregoing provisions in of this Section 3.08Section, each Debt Security delivered under this Indenture upon transfer of or in exchange for or substitution for, or upon registration in lieu of transfer of, any other Debt Security shall carry all the rights to interest accrued and unpaid, and to accrue, which that were carried by such other Debt Security.
Appears in 1 contract
Samples: Indenture (Matrix Bancorp Inc)
Payment of Interest; Interest Rights Preserved. (a) Interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name such that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest notwithstanding interest. The initial Interest Payment Date for any Security other than the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Initial Securities shall be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) orfirst April 1 or October 1 occurring after the Securities Issue Date for such Security. The initial Interest Payment Date for each Initial Security shall be October 1, at the option of the Company, by check mailed to the address of the Person entitled thereto as such address shall appear in the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holder.
(b) 2001. Any interest on any Security that which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the interest rate borne by the Securities, to the extent lawful (such defaulted interest and interest thereon herein collectively called “"Defaulted Interest”) "), shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of his, her or its having been such a Holder, ; and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause Subsection (ia) or (iib) below:
(ia) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names such the Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest (a “Special Record Date”)Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause Subsection provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in Date. In the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders of such Securities each Holder at their addresses his address as they appear it appears in the Security Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall be paid to the Persons in whose names such the Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause Subsection (iib).
(iib) The Company may make payment of any Defaulted Interest on Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such the Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clauseSubsection, such manner of payment shall be deemed practicable by the Trustee.
(c) . Subject to the foregoing provisions in of this Section 3.08307, each Security delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, of or in exchange for or in lieu of any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 1 contract
Samples: Indenture (CSC Holdings Inc)
Payment of Interest; Interest Rights Preserved. (a) Interest Interest, if any, on any Security Note which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name such Security that Note (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified office or agency maintained for such purpose pursuant to Section 3.01) or9.2; provided, however, that, at the option of the Company, interest on any Notes may be paid (i) by check mailed to the address of the Person entitled thereto as such address it shall appear in on the Register or, of Holders; (ii) in accordance with arrangements satisfactory to the Trusteecash, by wire transfer to an account designated maintained by the HolderPerson entitled thereto as specified in the Register of Holders; or (iii) with respect to any Interest Payment Date on or prior to the first anniversary of the original issuance date of the Notes, in Common Stock having a Market Value as of the close of business on the Business Day immediately preceding the relevant Interest Payment Date equal to the amount of interest not paid by check or wire transfer to the Person entitled to receive such interest payment (but in any case if such amounts are to be paid by the Trustee or the Paying Agent, such amounts must be received by the Trustee or the Paying Agent no later than 10:00 a.m., New York City time, on the scheduled date of such payment in immediately available funds and designated for and sufficient to pay all interest, if any, on the Notes then due).
(b) Any interest on any Security that Note which is payable, but is not punctually paid or duly provided for, for in accordance with Section 3.7(a) on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause (i1) or (ii2) below:
(i1) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names such Securities the Notes (or their respective Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest (a “Special Record Date”)Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security Note and the date of the proposed payment, and at the same time time, the Company shall deposit with the Trustee no later than 10:00 a.m., New York City time, on the Special Record Date an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause (1) provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less fewer than 10 calendar days prior to the date of the proposed payment and not less fewer than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders of such Securities each Holder at their addresses its address as they appear it appears in the Register, not less fewer than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall be paid to the Persons in whose names such Securities the Notes (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii2).
(ii2) The Company may make payment of any Defaulted Interest to the Persons in whose names the Notes (or their respective Predecessor Securities) are registered at the close of business on Securities a specified date in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities Notes may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clauseclause (2), such manner of payment shall be deemed practicable by the Trustee.
(c) Subject to the foregoing provisions in of this Section 3.083.7 and Section 3.5, each Security Note delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, of or in exchange for or in lieu of any other Security Note shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other SecurityNotes.
(d) In the event that the Company is required to pay additional interest to Holders pursuant to a Registration Rights Agreement (“Additional Interest”), the Company shall provide no later than five Business Days prior to the proposed payment date set for the payment of Additional Interest a direction or order in the form of a written notice (“Additional Interest Notice”) to the Trustee (and if the Trustee is not the Paying Agent, the Paying Agent) of the Company’s obligation to pay Additional Interest, and the Additional Interest Notice shall set forth the amount of Additional Interest to be paid by the Company on such payment date and direct the Trustee (or, if the Trustee is not the Paying Agent, the Paying Agent) to make payment to the extent it receives funds from the Company to do so (but in any case if such amounts are to be paid by the Trustee or the Paying Agent, such amounts must be received by the Trustee or the Paying Agent no later than 10:00 a.m., New York City time, on the scheduled date of such payment in immediately available funds and designated for and sufficient to pay all interest, if any, on the Notes then due).
Appears in 1 contract
Samples: Indenture (Ual Corp /De/)
Payment of Interest; Interest Rights Preserved. (a) Interest Unless otherwise specified as contemplated by Section 3.01, interest on any Fully Registered Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name such that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest notwithstanding if provided for in the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified Board Resolution pursuant to Section 3.01) or. In the case of a Security issued between a record date and the initial Interest Payment Date relating to such record date, at interest for the option period beginning on the date of the Company, by check mailed issue and ending on such initial Interest Payment Date shall be paid to the address of the Person entitled thereto as person to whom such address Security shall appear in the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holder.
(b) have been originally issued. Any interest on any Fully Registered Security that which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of his, her or its having been such a Holder, ; and such Defaulted Interest may be paid by the Company, Company at its election in each case, as provided in clause Clause (i1) or Clause (ii2) below:
(i1) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names such Fully Registered Securities (or their respective its Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest (a “Special Record Date”)Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Fully Registered Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause Clause provided. Thereupon the Trustee shall fix a Special special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not nor less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date Date, and, in the name and at the expense of the Company, Company shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class first class, postage prepaid, to the Holders each Holder of such Securities a Fully Registered Security at their addresses his address as they appear it appears in the Security Register, not less than 10 calendar days prior to such Special Record Date. The Trustee may, in its discretion, in the name and at the expense of the Company cause a similar notice to be published at least once in an Authorized Newspaper in the Place of Payment, but such publication shall not be a condition precedent to the establishment of such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed given as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such the Fully Registered Securities (or their respective its Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause Clause (ii2).
(ii2) The Company may make payment of any Defaulted Interest on Securities any such Fully Registered Security in any other lawful manner not inconsistent with the requirements of any securities exchange on which such the Fully Registered Securities of that series may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clauseClause, such manner of payment shall be deemed practicable by the Trustee.
(c) . Subject to the foregoing provisions in of this Section 3.08Section, each Security of any series delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, of or in exchange for or in lieu of any other Security of such series shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 1 contract
Samples: Senior Notes Indenture (First Niagara Financial Group Inc)
Payment of Interest; Interest Rights Preserved. (a) Interest on any Security which that is payable, payable and is punctually paid or duly provided for, for on any Interest Payment Date shall be paid to the Person in whose name such Security (or one or more Predecessor Securities) is registered at the close of business on the Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) or, at the option of the Company, by check mailed to the address of the Person entitled thereto as such address shall appear in the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holder.
(b) Any interest on any Security that is payable, payable but is not punctually paid or duly provided for, for on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause (i) or (ii) below:
(i) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest (a “Special Record Date”), which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders of such Securities at their addresses as they appear in the Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii).
. Table of Contents (ii) The Company may make payment of any Defaulted Interest on Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) Subject to the foregoing provisions in this Section 3.08set forth herein relating to Record Dates, each Security delivered under pursuant to any provision of this Indenture in exchange or substitution for, or upon registration of transfer of, any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 1 contract
Samples: Indenture (Healthsouth Corp)
Payment of Interest; Interest Rights Preserved. (a) Interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid paid, (i) in the case of Definitive Securities, to the Person in whose name such that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) orand, at the option of the CompanyIssuer, may be paid by check mailed to the address of the Person entitled thereto as such address shall appear it appears in the Register orSecurity Register; and (ii) in the case of Global Securities, in accordance with arrangements satisfactory to the Trustee, Holder by wire transfer of same-day funds to an account designated by the Holder.
Holder in whose name that Security (bor one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Security that which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the CompanyIssuer, at its election in each case, as provided in clause (i1) or (ii2) below:
(i1) The Company Issuer may elect to make payment of any Defaulted Interest to the Persons in whose names such the Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest (a “Special Record Date”)Interest, which shall be fixed in the following manner. The Company Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and Security, the date of the proposed paymentpayment and the Special Record Date, and at the same time the Company Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a The Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date andTrustee, in the name and at the expense of the CompanyIssuer, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders of each Holder at such Securities at their addresses Holder’s address as they appear it appears in the Security Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall be paid to the Persons in whose names such the Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii2).
(ii2) The Company Issuer may make payment of any Defaulted Interest on Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such the Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company Issuer to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) . Subject to the foregoing provisions in of this Section 3.08and Section 3.05, each Security delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, of or in exchange for or in lieu of any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security. Interest on any Security which is converted in accordance with Section 11.02 during a Record Date Period shall be payable in accordance with the provisions of Section 11.02.
Appears in 1 contract
Samples: Indenture (Shire PLC)
Payment of Interest; Interest Rights Preserved. (a) Interest on any Security which that is payable, payable and is punctually paid or duly provided for, for on any Interest Payment Date shall be paid to the Person in whose name such Security (or one or more Predecessor Securities) is registered at the close of business on the Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) or, at the option of the Company, by check mailed to the address of the Person entitled thereto as such address shall appear in the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holder.
(b) Any interest on any Security that is payable, payable but is not punctually paid or duly provided for, for on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause (i) or (ii) below:
(i) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest (a “Special Record Date”), which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee Company shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee Company shall promptly notify the Company Trustee of such Special Record Date and, the Trustee in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be delivered electronically or mailed, first-class postage prepaid, to the Holders of such Securities at their addresses as they appear in the Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii).
(ii) The Company may make payment of any Defaulted Interest on Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) Subject to the foregoing provisions in this Section 3.08set forth herein relating to Record Dates, each Security delivered under pursuant to any provision of this Indenture in exchange or substitution for, or upon registration of transfer of, any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 1 contract
Samples: Indenture (LHC Group, Inc)
Payment of Interest; Interest Rights Preserved. (a) Interest Unless otherwise provided as contemplated by Section 3.01 with respect to any series of Securities, interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name such Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Interest Payment of interest on Securities shall be made Date at the Corporate Trust Office (except as otherwise specified office or agency of the Issuer maintained for such purpose pursuant to Section 3.01) or, at the option of the Company, by check mailed to the address of the Person entitled thereto as such address shall appear in the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holder.
(b) 10.02. Any interest on any Security that of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the CompanyIssuer, at its election in each case, as provided in clause (i1) or (ii2) below:below (subject to the rules of the ICSDs, if applicable):
(i1) The Company Issuer may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such Securities series (or their respective Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest (a “Special Record Date”)Interest, which shall be fixed in the following manner. The Company Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such Security series and the date of the proposed payment, and at the same time the Company Issuer shall deposit with the Trustee an amount of money in the Currency in which the Securities of such series are payable (except as otherwise specified pursuant to Section 3.01 for the Securities of such series and except, if applicable, as provided in Section 3.11(b) equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit on or prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which (i) in the case of a Security issued in the form of a Global Security under the New Safekeeping Structure, shall be in compliance with the applicable rules of the ICSDs, and (ii) for any other Securities, shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company Issuer of such Special Record Date and, in the name and at the expense of the CompanyIssuer, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, given to the Holders each Holder of Securities of such Securities at their addresses as they appear series in the Registeraccordance with Section 1.06, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaidso given, such Defaulted Interest shall be paid to the Persons in whose names name the Securities of such Securities series (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii2).
(ii2) The Company Issuer may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company Issuer to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) Subject to the foregoing provisions in this Section 3.08, each Security delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 1 contract
Payment of Interest; Interest Rights Preserved. (a) Interest on any Security which that is payable, payable and is punctually paid or duly provided for, for on any Interest Payment Date shall be paid to the Person in whose name such Security (or one or more Predecessor Securities) is registered at the close of business on the Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) or, at the option of the Company, by check mailed to the address of the Person entitled thereto as such address shall appear in the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holder.
(b) Any interest on any Security that is payable, payable but is not punctually paid or duly provided for, for on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause (i) or (ii) below:
: (i) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest (a “Special Record Date”), which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders of such Securities at their addresses as they appear in the Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii).
(ii) The Company may make payment of any Defaulted Interest on Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quoted, and upon such notice as may be required by such exchange or quotation system, as applicable, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) Subject to the foregoing provisions in this Section 3.08, each Security delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.proposed
Appears in 1 contract
Samples: Indenture (SmileDirectClub, Inc.)
Payment of Interest; Interest Rights Preserved. (a) Interest Except as otherwise provided as contemplated by Section 2.01 with respect to any series of Securities, interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall will be paid to the Person in whose name such that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) or, at the option of the Company, by check mailed to the address of the Person entitled thereto as such address shall appear in the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holderinterest.
(b) Any interest on any Security that of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “"Defaulted Interest”") shall will forthwith cease to be payable to the Holder on the relevant regular Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the CompanyCompany together with interest thereon (to the extent permitted by law) at the rate of interest applicable to such Security, at its election in each case, as provided in clause (i) or (ii) below:
(i) The Company may elect to make payment of any Defaulted Interest (and interest thereon, if any) to the Persons in whose names the Securities of such Securities series (or their respective Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest (a “Special Record Date”)Interest, which shall will be fixed in the following manner. The Company shall will promptly notify the Trustee in writing of the amount of Defaulted Interest (and interest thereon, if any) proposed to be paid on each Security of such Security series and the date of the proposed payment, and at the same time the Company shall will deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest (and interest thereon, if any) or shall will make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons persons entitled to such Defaulted Interest (and interest thereon, if any) as in this clause (i) provided. Thereupon the Trustee shall will fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days (and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders of such Securities at their addresses as they appear in the Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii).
(ii) The Company may make payment of any Defaulted Interest on Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quoted, and upon such notice as may be required by such exchange or quotation system, as applicable, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) Subject to the foregoing provisions in this Section 3.08, each Security delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.thereon,
Appears in 1 contract
Samples: Indenture (TrueBlue, Inc.)
Payment of Interest; Interest Rights Preserved. (a) Interest on any Security which that is payable, payable and is punctually paid or duly provided for, for on any Interest Payment Date shall be paid to the Person in whose name such Security (or one or more Predecessor Securities) is registered at the close of business on the Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) or, at the option of the Company, by check mailed to the address of the Person entitled thereto as such address shall appear in the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holder.
(b) Any interest on any Security that is payable, payable but is not punctually paid or duly provided for, for on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause (i) or (ii) below:
(i) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest (a “Special Record Date”), which shall be fixed in the following manner. : The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders of such Securities at their addresses as they appear in the Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii).
(ii) The Company may make payment of any Defaulted Interest on Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) Subject to the foregoing provisions in this Section 3.08set forth herein relating to Record Dates, each Security delivered under pursuant to any provision of this Indenture in exchange or substitution for, or upon registration of transfer of, any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 1 contract
Payment of Interest; Interest Rights Preserved. (a) Interest on any Security which that is payable, payable and is punctually paid or duly provided for, for on any Interest Payment Date shall be paid to the Person in whose name such Security (or one or more Predecessor Securities) is registered at the close of business on the Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) or, at the option of the CompanyIssuer, by check mailed to the address of the Person entitled thereto as such address shall appear in the Register or, in accordance with arrangements satisfactory to the Trustee, or by wire transfer to an account designated by the Holder.
(b) Any interest on any Security that is payable, payable but is not punctually paid or duly provided for, for on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the CompanyIssuer, at its election in each case, as provided in clause (i) or (ii) below:
(i) The Company Issuer may elect to make payment of any Defaulted Interest to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest (a “Special Record Date”), which shall be fixed in the following manner. The Company Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee Issuer shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by Issuer gives to the Trustee of the notice of the proposed payment. The Trustee Issuer shall promptly notify the Company Trustee of such Special Record Date and, in the name and at the expense of the CompanyIssuer, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, given to the Holders of such Securities at their addresses as they appear in the Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed given as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii).
(ii) The Company Issuer may make payment of any Defaulted Interest on Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company Issuer to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) Subject to the foregoing provisions in this Section 3.08set forth herein relating to Record Dates, each Security delivered under pursuant to any provision of this Indenture in exchange or substitution for, or upon registration of transfer of, any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 1 contract
Samples: Indenture (J C Penney Co Inc)
Payment of Interest; Interest Rights Preserved. (a) Interest Except as otherwise provided in accordance with Section 2.01 with respect to any series of Securities, interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall will be paid to the Person in whose name such that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) or, at the option of the Company, by check mailed to the address of the Person entitled thereto as such address shall appear in the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holderinterest.
(b) Any interest on any Security that of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall will forthwith cease to be payable to the Holder on the relevant regular Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the CompanyCompany together with interest thereon (to the extent permitted by law) at the rate of interest applicable to such Security, at its election in each case, as provided in clause (i) or (ii) below:
(i) The Company may elect to make payment of any Defaulted Interest (and interest thereon, if any) to the Persons in whose names the Securities of such Securities series (or their respective Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest (a “Special Record Date”)Interest, which shall will be fixed in the following manner. The Company shall will notify the Trustee in writing of the amount of Defaulted Interest (and interest thereon, if any) proposed to be paid on each Security of such Security series and the date of the proposed payment, and at the same time the Company shall will deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest (and interest thereon, if any) or shall will make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons persons entitled to such Defaulted Interest (and interest thereon, if any) as in this clause (i) provided. Thereupon the Trustee shall will fix a Special Record Date for the payment of such Defaulted Interest (and interest thereon, if any) which shall will be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall will promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall will cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders each Holder of Securities of such Securities series at their addresses his address as they appear it appears in the Security Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest (and interest thereon, if any) and the Special Record Date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall will be paid to the Persons in whose names the Securities of such Securities series (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall will no longer be payable pursuant to the following clause (ii).
(ii) The Company may make payment of any Defaulted Interest (and interest thereon, if any) on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clauseclause (ii), such manner of payment shall be deemed practicable by the Trustee.
(c) Subject to the foregoing provisions in of this Section 3.082.09, each Security delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, of or in exchange for or in lieu of any other Security shall will carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 1 contract
Payment of Interest; Interest Rights Preserved. (a) Interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall shall, if so provided in such Security, be paid to the Person in whose name such that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent payment. Unless otherwise provided with respect to the Record Date. Payment Securities of any series, payment of interest on Securities shall may be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) or, at the option of the Company, Issuer may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register or, in accordance with arrangements satisfactory to the Trustee, or by wire transfer of funds to an the Person entitled thereto at a bank account designated by maintained within the Holder.
(b) United States. Any interest on any Security that of any particular series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the registered Holder on the relevant Regular Record Date by virtue of his, her or its having been such a Holder, ; and such Defaulted Interest may be paid by the Company, Issuer at its election in each case, as provided in clause (i1) or (ii2) below:
(i1) The Company Issuer may elect to make payment of any Defaulted Interest to the Persons in whose names such the Securities of that series (or their respective Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest (a “Special Record Date”)Interest, which shall be fixed in the following manner. The Company Issuer shall notify the Trustee for the Securities of such series in writing of the amount of Defaulted Interest proposed to be paid on each such Security of that series and the date of the proposed payment, and at the same time the Company Issuer or any of the Guarantors shall deposit with the such Trustee an amount of money in the currency or currency unit in which the Securities of such series are payable (except as otherwise specified pursuant to Section 301 for the Securities of such series), equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the such Trustee for such deposit on or prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the such Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall not be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the such Trustee of the notice of the proposed payment. The Such Trustee shall promptly notify the Company Issuer of such Special Record Date and, in the name and at the expense of the Company, Issuer shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders each Holder of such Securities of that series at their addresses his address as they appear it appears in the Register, Security Register not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such the Securities of that series (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii2).
(ii) The Company may make payment of any Defaulted Interest on Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quoted, and upon such notice as may be required by such exchange or quotation system, as applicable, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) Subject to the foregoing provisions in this Section 3.08, each Security delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 1 contract
Samples: Indenture (Brandywine Operating Partnership Lp /Pa)
Payment of Interest; Interest Rights Preserved. (a) Interest on any Security which that is payable, payable and is punctually paid or duly provided for, for on any Interest Payment Date shall be paid to the Person in whose name such Security (or one or more Predecessor Securities) is registered at the close of business on the Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) or, at the option of the Company, by check mailed to the address of the Person entitled thereto as such address shall appear in the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holder.
(b) Any interest on any Security that is payable, payable but is not punctually paid or duly provided for, for on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause (i) or (ii) below:
: (i) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest (a “Special Record Date”), which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders of such Securities at their addresses as they appear in the Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii).
(ii) The Company may make payment of any Defaulted Interest on Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quoted, and upon such notice as may be required by such exchange or quotation system, as applicable, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) Subject to the foregoing provisions in this Section 3.08, each Security delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.24
Appears in 1 contract
Samples: Indenture (Vectrus, Inc.)
Payment of Interest; Interest Rights Preserved. (a) Interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name such that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest notwithstanding at the cancellation office or agency of the Company maintained for such Security upon any transfer or exchange subsequent purpose pursuant to the Record Date. Payment Section 10.02; provided, however, that each instalment of interest on Securities shall be made any Security may at the Corporate Trust Office (except as otherwise specified Company's option be paid by mailing a check for such interest, payable to or upon the written order of the Person entitled thereto pursuant to Section 3.01) or3.08, at the option of the Company, by check mailed to the address of such Person as it appears on the Security Register or by wire transfer to an account of the Person entitled thereto as such address account shall be provided to the Security Registrar and shall appear in on the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holder.
(b) Security Register. Any interest on any Security that of any series which is payable, payable but is not punctually paid or duly provided for, for on any Interest Payment Date (herein called “"Defaulted Interest”") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause (i1) or (ii2) below:
(i1) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such Securities series (or their respective Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest (a “Special Record Date”)Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such Security series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit on or prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders each Holder of Securities of such Securities series at their addresses his address as they appear it appears in the Security Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such Securities series (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii2).
(ii2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) . Subject to the foregoing provisions in of this Section 3.08Section, each Security delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, of or in exchange for or in lieu of any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 1 contract
Samples: Indenture (Ford Motor Co)
Payment of Interest; Interest Rights Preserved. (a) Interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid paid, (i) in the case of Definitive Securities, to the Person in whose name such that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) orand, at the option of the CompanyIssuer, may be paid by check mailed to the address of the Person entitled thereto as such address shall appear it appears in the Register orSecurity Register; and (ii) in the case of Global Securities, in accordance with arrangements satisfactory to the Trustee, Holder by wire transfer of same-day funds to an account designated by the Holder.
Holder in whose name that Security (bor one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Security that which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “"Defaulted Interest”") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the CompanyIssuer, at its election in each case, as provided in clause (i1) or (ii2) below:
(i1) The Company Issuer may elect to make payment of any Defaulted Interest to the Persons in whose names such the Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest (a “Special Record Date”)Interest, which shall be fixed in the following manner. The Company Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and Security, the date of the proposed paymentpayment and the Special Record Date, and at the same time the Company Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a The Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date andTrustee, in the name and at the expense of the CompanyIssuer, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders of each Holder at such Securities at their addresses Holder's address as they appear it appears in the Security Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall be paid to the Persons in whose names such the Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii2).
(ii2) The Company Issuer may make payment of any Defaulted Interest on Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such the Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company Issuer to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) . Subject to the foregoing provisions in of this Section 3.08and Section 3.5, each Security delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, of or in exchange for or in lieu of any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security. Interest on any Security which is converted in accordance with Section 11.2 during a Record Date Period shall be payable in accordance with the provisions of Section 11.2.
Appears in 1 contract
Payment of Interest; Interest Rights Preserved. (a) Interest on any Security which that is payable, payable and is punctually paid or duly provided for, for on any Interest Payment Date shall be paid to the Person in whose name such Security (or one or more Predecessor Securities) is registered at the close of business on the Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) or, at the option of the Company, by check mailed to the address of the Person entitled thereto as such address shall appear in the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holder.
(b) Any interest on any Security that is payable, payable but is not punctually paid or duly provided for, for on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause (i) or (ii) below:
: (i) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest (a “Special Record Date”), which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders of such Securities at their addresses as they appear in the Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii).
(ii) The Company may make payment of any Defaulted Interest on Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quoted, and upon such notice as may be required by such exchange or quotation system, as applicable, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) Subject to the foregoing provisions in this Section 3.08, each Security delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.25
Appears in 1 contract
Samples: Indenture (KEMPER Corp)
Payment of Interest; Interest Rights Preserved. (a) Interest Except as otherwise provided in accordance with Section 2.01 with respect to any series of Securities, interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall will be paid to the Person in whose name such that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) or, at the option of the Company, by check mailed to the address of the Person entitled thereto as such address shall appear in the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holderinterest.
(b) Any interest on any Security that of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “"Defaulted Interest”") shall will forthwith cease to be payable to the Holder on the relevant regular Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the CompanyCompany together with interest thereon (to the extent permitted by law) at the rate of interest applicable to such Security, at its election in each case, as provided in clause (i) or (ii) below:
(i) The Company may elect to make payment of any Defaulted Interest (and interest thereon, if any) to the Persons in whose names the Securities of such Securities series (or their respective Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest (a “Special Record Date”)Interest, which shall will be fixed in the following manner. The Company shall will notify the Trustee in writing of the amount of Defaulted Interest (and interest thereon, if any) proposed to be paid on each Security of such Security series and the date of the proposed payment, and at the same time the Company shall will deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest (and interest thereon, if any) or shall will make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons persons entitled to such Defaulted Interest (and interest thereon, if any) as provided in this clause provided(i). Thereupon the Trustee shall will fix a Special Record Date for the payment of such Defaulted Interest (and interest thereon, if any) which shall will be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall will promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall will cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders each Holder of Securities of such Securities series at their addresses his address as they appear it appears in the Security Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest (and interest thereon, if any) and the Special Record Date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall will be paid to the Persons in whose names the Securities of such Securities series (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall will no longer be payable pursuant to the following clause (ii).
(ii) The Company may make payment of any Defaulted Interest (and interest thereon, if any) on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clauseclause (ii), such manner of payment shall be deemed practicable by the Trustee.
(c) Subject to the foregoing provisions in of this Section 3.082.09, each Security delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, of or in exchange for or in lieu of any other Security shall will carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 1 contract
Samples: Indenture (Dow Corning Corp)
Payment of Interest; Interest Rights Preserved. (a) Interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name such Security (or one or more Predecessor Securities) is registered at the close of business on the Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest and Additional Interest, if any, on Securities shall be made at the Corporate Trust Office or in accordance with the applicable procedures of the Depository (except as otherwise specified pursuant to Section 3.01) or, at the option of the Company, Company by check mailed to the address of the Person entitled thereto as such address shall appear in the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holder.
(b) Any If the Company defaults in a payment of any interest or Additional Interest, if any, on any Security that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) ), then such Defaulted Interest shall forthwith cease to be payable to the Holder on the relevant Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause (i) or (ii) below:of this Section 3.08(b):
(i) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest (a “Special Record Date”), which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, given to the Holders each Holder of Securities of such Securities at their addresses as they appear in the Registerseries, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed given as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii).
(ii) The Company may make payment of any Defaulted Interest on Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be 32 quoted, and upon such notice as may be required by such exchange or quotation system, as applicable, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) Subject to the foregoing provisions in this Section 3.08, each Security delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 1 contract
Payment of Interest; Interest Rights Preserved. (a) Interest Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name such that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified office or agency maintained for such purpose pursuant to Section 3.01) or1002; provided, however, that at the option of the Company, interest -------- ------- on Securities of any series that bear interest may be paid (i) by check mailed to the address of the Person entitled thereto as such address it shall appear in on the Security Register or, in accordance with arrangements satisfactory to the Trustee, or (ii) by wire transfer to an account designated maintained by the Holder.
(b) Person entitled thereto as specified in the Security Register. Any interest on any Security that of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “"Defaulted Interest”") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause Clause (i1) or (ii2) below:
(i1) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such Securities series (or their respective Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest (a “Special Record Date”)Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such Security series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause Clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders each Holder of Securities of such Securities series at their addresses his address as they appear it appears in the Security Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such Securities series (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause Clause (ii2).
(ii2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clauseClause, such manner of payment shall be deemed practicable by the Trustee.
. In the case of any Security which is converted after any Regular Record Date and on or prior to the next succeeding Interest Payment Date (cother than any Security whose Maturity is prior to such Interest Payment Date), interest whose Stated Maturity is on such Interest Payment Date shall be payable on such Interest Payment Date notwithstanding such conversion, and such interest (whether or not punctually paid or duly provided for) shall be paid to the Person in whose name that Security (or one or more Predecessor Securities) is registered at the close of business on such Regular Record Date. Except as otherwise expressly provided in the immediately preceding sentence, in the case of any Security which is converted, interest whose Stated Maturity is after the date of conversion of such Security shall not be payable. Subject to the foregoing provisions in of this Section 3.08Section, each Security delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, of or in exchange for or in lieu of any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 1 contract
Samples: Indenture (Unova Inc)
Payment of Interest; Interest Rights Preserved. (a) Interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name such that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest notwithstanding at the cancellation office or agency of the Company maintained for such Security upon any transfer or exchange subsequent purpose pursuant to the Record Date. Payment Section 10.02; provided, however, that each instalment of interest on Securities shall be made any Security may at the Corporate Trust Office (except as otherwise specified Company's option be paid by mailing a check for such interest, payable to or upon the written order of the Person entitled thereto pursuant to Section 3.01) or3.08, at the option of the Company, by check mailed to the address of such Person as it appears on the Security Register or by wire transfer to an account of the Person entitled thereto as such address account shall be provided to the Security Registrar and shall appear in on the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holder.
(b) Security Register. Any interest on any Security that of any series which is payable, payable but is not punctually paid or duly provided for, for on any Interest Payment Date (herein called “"Defaulted Interest”") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause (i1) or (ii2) below:
(i1) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such Securities series (or their respective Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest (a “Special Record Date”)Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted 38 Interest proposed to be paid on each Security of such Security series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit on or prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders each Holder of Securities of such Securities series at their addresses his address as they appear it appears in the Security Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such Securities series (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii2).
(ii2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) . Subject to the foregoing provisions in of this Section 3.08Section, each Security delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, of or in exchange for or in lieu of any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
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Payment of Interest; Interest Rights Preserved. (a) Interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name such Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified office or agency of the Company maintained for such purpose pursuant to Section 3.01) or1002; provided, however, that each installment of interest may at the Company's option of be paid by mailing a check for such interest, payable to or upon the Company, by check mailed to the address written order of the Person entitled thereto pursuant to Section 308, to the address of such Person as such address shall appear it appears in the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holder.
(b) Security Register. Any interest on any Security that which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of his, her or its having been such a Holder, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate borne by the Securities (such defaulted interest and interest thereon herein collectively called "Defaulted Interest Interest") may be paid by the Company, at its election in each case, as provided in clause paragraph (i1) or (ii2) below:
(i1) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names such the Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest (a “Special Record Date”)Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date andDate, and in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders of such Securities at their addresses as they appear given in the Registermanner provided for in Section 106, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii).
(ii) The Company may make payment of any Defaulted Interest on Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quoted, and upon such notice as may be required by such exchange or quotation system, as applicable, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) Subject to the foregoing provisions in this Section 3.08, each Security delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.Special
Appears in 1 contract
Payment of Interest; Interest Rights Preserved. (a) Unless otherwise provided as contemplated by Section 301 with respect to any series of Securities, Cash Interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name such that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made Cash Interest at the Corporate Trust Office (except as otherwise specified office or agency of the Company maintained for such purpose pursuant to Section 3.01) or1002; provided, however, that each installment of Cash Interest, if any, on any Security may at the Company's option of be paid by (i) mailing a check for such interest, payable to or upon the Company, by check mailed to the address written order of the Person entitled thereto as such address shall appear in the Register orpursuant to Section 309, in accordance with arrangements satisfactory to the Trustee, by address of such Person as it appears on the Securities Register or (ii) wire transfer in immediately in available funds at such place and to an such account as may be designated by the Holder.
(b) Person entitled thereto as specified in the Securities Register. Any interest Cash Interest on any Security that of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “"Defaulted Interest”) "), shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause Clause (i1) or (ii2) below:
(i1) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such Securities series (or their respective Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest (a “Special Record Date”)Interest, which shall be fixed in the following manner. manner (the "Special Record Date"): The Company shall shall, not less than 30 days prior to the date of any proposed payment of Defaulted Interest, notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such Security series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause Clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-first class postage prepaid, to the Holders each Holder of Securities of such Securities series, at their addresses his address as they appear it appears in the Securities Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such Securities series (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause Clause (ii2).
(ii2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clauseClause, such manner of payment shall be deemed practicable by the Trustee.
(c) . Subject to the foregoing provisions in of this Section 3.08Section, each Security delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, of or in exchange for or in lieu of any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security. In the case of any Security which is converted after any Regular Record Date and on or prior to the next succeeding Interest Payment Date (other than any Security whose Maturity is prior to such Interest Payment Date), Cash Interest whose Stated Maturity is on such Interest Payment Date shall be payable on such Interest Payment Date notwithstanding such conversion, and such Cash Interest (whether or not punctually paid or duly provided for) shall be paid to the Person in whose name that Security (or one or more Predecessor Securities) is registered at the close of business on such Regular Record Date. Except as otherwise expressly provided in the immediately preceding sentence, in the case of any Security which is converted, Cash Interest whose Stated Maturity is after the date of conversion of such Security shall not be payable. Notwithstanding the foregoing, the terms of any Security that may be converted may provide that the provisions of this paragraph do not apply, or apply with such additions, changes or omissions as may be provided thereby, to such Security.
Appears in 1 contract
Samples: Indenture (Inco LTD)
Payment of Interest; Interest Rights Preserved. (a) Interest on any Security which that is payable, payable and is punctually paid or duly provided for, for on any Interest Payment Date shall be paid to the Person in whose name such Security (or one or more Predecessor Securities) is registered at the close of business on the Record Date Date, whether or not a Business Day, for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) or, at the option of the Company, by check mailed to the address of the Person entitled thereto as such address shall appear in the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account within the U.S. designated by the Holder.
(b) Any interest on any Security that is payable, payable but is not punctually paid or duly provided for, for on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause (i) or (ii) below:
(i) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest (a “Special Record Date”), which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaidprepaid or sent electronically, to the Holders of such Securities at their addresses as they appear in the Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed sent as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii).
(ii) The Company may make payment of any Defaulted Interest on Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) Subject to the foregoing provisions in this Section 3.08set forth herein relating to Record Dates, each Security delivered under pursuant to any provision of this Indenture in exchange or substitution for, or upon registration of transfer of, any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 1 contract
Payment of Interest; Interest Rights Preserved. (a) Interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name such that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest notwithstanding at the cancellation office or agency of the Company maintained for such Security upon any transfer or exchange subsequent purpose pursuant to the Record Date. Payment Section 10.02; provided, however, that each installment of interest on Securities shall be made any Security may at the Corporate Trust Office (except as otherwise specified Company's option be paid by mailing a check for such interest, payable to or upon the written order of the Person entitled thereto pursuant to Section 3.01) or3.08, at the option of the Company, by check mailed to the address of such Person as it appears on the Security Register or by wire transfer to an account of the Person entitled thereto as such address account shall be provided to the Security Registrar and shall appear in on the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holder.
(b) Security Register. Any interest on any Security that of any series which is payable, payable but is not punctually paid or duly provided for, for on any Interest Payment Date (herein called “"Defaulted Interest”") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause (i1) or (ii2) below:
(i1) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such Securities series (or their respective Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest (a “Special Record Date”)Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such Security series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit on or prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders each Holder of Securities of such Securities series at their addresses his address as they appear it appears in the Security Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall be 37 paid to the Persons in whose names the Securities of such Securities series (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii2).
(ii2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) . Subject to the foregoing provisions in of this Section 3.08Section, each Security delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, of or in exchange for or in lieu of any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
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Payment of Interest; Interest Rights Preserved. (a) Interest Under current Spanish law and regulations, the Issuer and the Guarantor (and any Paying Agent acting on their behalf) are required to provide certain information relating to Beneficial Owners to the Spanish tax authorities. The Issuer and the Guarantor, and any Paying Agent, as the case may be, will withhold Spanish withholding tax from any interest payment or premium , if any, paid in respect of any principal amount of the Securities as to which the required Beneficial Owner information has not been provided.
(b) Procedures for the collection of Beneficial Owner information (if any such procedures are required pursuant to Spanish law and regulations) will be defined in a Tax Certification Agency Agreement, which shall be delivered to the Trustee, any Paying Agent and any Depositary for the Securities upon the delivery of such Securities. Such Tax Certification Agency Agreement may be amended at any time pursuant to its terms.
(c) Except as otherwise provided or as contemplated by (a) and (b) of this Section, and by Section 2.1, with respect to any series of Securities, interest or premium , if any, on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date (or any Redemption Date) shall be paid to the Person in whose name such that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) orand, at the option of the Company, by check mailed to the address of the Person entitled thereto as such address shall appear in the Register orcase of premium , in accordance with arrangements satisfactory to if any, the Trustee, by wire transfer to an account designated by the Holderdate on which such premium may become payable.
(bd) Any interest on any Security that of any series which is payablepayable other than at Maturity, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the applicable Holder on the relevant Regular Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the CompanyIssuer, at its election in each casecase in conformance with the requirements of current Spanish law and regulations, as provided in clause paragraph (i) or (ii) below:
(i) The Company Issuer may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such Securities series (or their respective Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest (a “Special Record Date”)Interest, which shall be fixed in the following manner. The Company Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such Security series and the date of the proposed payment, and at the same time the Company Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit on or prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause Subsection provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company Issuer of such Special Record Date and, in the name and at the expense of the CompanyIssuer, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, given to the Holders each Holder of Securities of such Securities at their addresses as they appear series the Issuer in the Registermanner set forth in Section 1.6, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such Securities series (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause Subsection (ii).
(ii) The Company Issuer may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company Issuer to the Trustee of the proposed payment pursuant to this clauseSubsection, such manner of payment shall be deemed practicable by the Trustee.
(ce) Subject to the foregoing provisions in of this Section 3.08and Section 2.5, each Security of any series delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, of or in exchange for or in lieu of any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 1 contract
Samples: Indenture (Telefonica S A)
Payment of Interest; Interest Rights Preserved. (a) Interest on any Security of any series which is payable, and is punctually paid or duly provided for, on any Interest Payment Date Date, shall be paid to the Person in whose name such that Security (or one or more Predecessor predecessor Securities) is registered at the close of business on the Regular Record Date for such interest notwithstanding the cancellation in respect of Securities of such series, except that, unless otherwise provided in the Securities of such series, interest payable on the Stated Maturity of a Security upon any transfer or exchange subsequent shall be paid to the Record DatePerson to whom principal is paid. Payment The initial payment of interest on Securities any Security of any series which is issued between a Regular Record Date and the related Interest Payment Date shall be made at payable as provided in such Security, Board Resolution, Officers' Certificate or the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) or, at supplemental indenture creating the related series of Securities. At the option of the Company, by check mailed to the address of the Person entitled thereto as such address shall appear in the Register or, in accordance with arrangements satisfactory to the Trustee, interest on any Security may be paid by wire transfer to an account designated maintained by the Holder.
(b) person entitled thereto as specified in the Securities Register. Any interest on any Security that which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date for Securities of such series (herein called “"Defaulted Interest”") shall forthwith cease to be payable to the registered Holder on the relevant Regular Record Date by virtue of hisDate; and, her or its having been such a Holderexcept as hereinafter provided, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause (iSection 3.07(a) or (ii) below:b):
(ia) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such Securities series in respect of which interest is in default (or their respective Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest (a “Special Record Date”)Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such Security series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders each Holder of Securities of such Securities series at their addresses his address as they appear it appears in the Register, Securities Register not less than 10 calendar days prior to such Special Record Date. The Trustee may, in its discretion, in the name and at the expense of the Company, cause a similar notice to be published at least once in an Authorized Newspaper in the Borough of Manhattan, The City of New York, but such publication shall not be a condition precedent to the establishment of such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such the Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (iiSection 3.07(b).
(iib) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which Securities of such Securities series may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clauseSection 3.07(b), such manner of payment shall be deemed practicable by the Trustee.
(c) . Subject to the foregoing provisions in of this Section 3.083.07, each Security delivered under this Indenture upon transfer of or in exchange for or substitution for, or upon registration in lieu of transfer of, any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 1 contract
Samples: Indenture (Price/Costco Inc)
Payment of Interest; Interest Rights Preserved. (a) Interest on any Security which is due and payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name such that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent payment; provided, however, that interest, if any, payable at Maturity will be payable to the Record DatePerson to whom principal shall be payable. Payment Unless otherwise provided with respect to the Securities of any series, payment of interest on Securities shall may be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) or, at the option of the Company, Issuer by check mailed or delivered to the address of the Person entitled thereto as such address shall appear in the Security Register or, in accordance with arrangements satisfactory to the Trustee, or by wire transfer to an a bank account designated maintained by the Holder.
(b) payee. Any interest on any Security that of any particular series which is due and payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the registered Holder on the relevant Regular Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may shall be paid by the CompanyIssuer, at its election in each case, as provided in clause (i1) or (ii2) below:
(i1) The Company the Issuer may elect to make payment of any Defaulted Interest to the Persons in whose names such the Securities of that series (or their respective Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest (a “Special Record Date”)Interest, which shall be fixed in the following manner. The Company Issuer shall notify the Senior Trustee for the Securities of such series in writing at least 30 days prior to the date of the proposed payment of the amount of Defaulted Interest proposed to be paid on each such Security of that series and the date of the proposed payment, and at the same time the Company Issuer shall deposit with the such Senior Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the such Senior Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee The Issuer shall fix a Special Record Date Date, and promptly give notice thereof to the Senior Trustee, for the payment of such Defaulted Interest Interest, which shall not be not more than 15 calendar days and not less than 10 calendar 7 days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the such Senior Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of Issuer, or such Special Record Date andSenior Trustee, in the name and at the expense of the CompanyIssuer, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-first- class postage prepaid, to the Holders each Holder of such Securities of that series at their addresses his address as they appear it appears in the Register, not Security Register no less than 10 calendar 7 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such the Securities of that series (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii2).; or
(ii2) The Company the Issuer may make payment of any Defaulted Interest on Securities of any particular series in any other lawful manner not inconsistent with the requirements of any securities exchange Stock Exchange on which such the Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation systemStock Exchange, as applicable, ifunless, after notice is given by the Company Issuer to the Senior Trustee for the Securities of such series of the proposed manner of payment pursuant to this clause, such manner of payment shall be deemed practicable impracticable by the such Senior Trustee.
(c) . Subject to the foregoing provisions in of this Section 3.08and Section 3.05, each Security delivered under this Senior Indenture in exchange or substitution for, or upon registration of transfer of, of or in exchange for or in lieu of any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 1 contract
Samples: Senior Indenture
Payment of Interest; Interest Rights Preserved. (a) Interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name such Security (or one or more Predecessor Securities) is registered at the close of business on the Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) or, at the option of the Company, by check mailed to the address of the Person entitled thereto as such address shall appear in the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holder.
(b) Any interest on any Security that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause (i) or (ii) below:
(i) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest (a “Special Record Date”), which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee Company, in consultation with the Trustee, shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date andthereafter, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, transmitted to the Holders of such Securities at their addresses as they appear in the Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed transmitted as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii).
(ii) The Company may make payment of any Defaulted Interest on Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quoted, and upon such notice as may be required by such exchange or quotation system, as applicable, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) Subject to the foregoing provisions in this Section 3.08, each Security delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 1 contract
Samples: Indenture (Alphabet Inc.)
Payment of Interest; Interest Rights Preserved. (a) Interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall shall, if so provided in such Security, be paid to the Person in whose name such that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent payment. Unless otherwise provided with respect to the Record Date. Payment Securities of any series, payment of interest on Securities shall may be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) or, at the option of the Company, Issuer may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register or, in accordance with arrangements satisfactory to the Trustee, or by wire transfer of funds to an the Person entitled thereto at a bank account designated by maintained within the Holder.
(b) United States. Any interest on any Security that of any particular series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the registered Holder on the relevant Regular Record Date by virtue of his, her or its having been such a Holder, ; and such Defaulted Interest may be paid by the Company, Issuer at its election in each case, as provided in clause (i1) or (ii2) below:
(i1) The Company Issuer may elect to make payment of any Defaulted Interest to the Persons in whose names such the Securities of that series (or their respective Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest (a “Special Record Date”)Interest, which shall be fixed in the following manner. The Company Issuer shall notify the Trustee for the Securities of such series in writing of the amount of Defaulted Interest proposed to be paid on each such Security of that series and the date of the proposed payment, and at the same time the Company Issuer shall deposit with the such Trustee an amount of money in the currency or currency unit in which the Securities of such series are payable (except as otherwise specified pursuant to Section 301 for the Securities of such series), equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the such Trustee for such deposit on or prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the such Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall not be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the such Trustee of the notice of the proposed payment. The Such Trustee shall promptly notify the Company Issuer of such Special Record Date and, in the name and at the expense of the Company, Issuer shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders each Holder of such Securities of that series at their addresses his address as they appear it appears in the Register, Security Register not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such the Securities of that series (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii2).
(ii2) The Company Issuer may make payment of any Defaulted Interest on Securities of any particular series in any other lawful manner not inconsistent with the requirements of any securities exchange on which such the Securities may be listed or of any automated quotation system on which any such Securities may be quotedlisted, and upon such notice as may be required by such exchange or quotation system, as applicableexchange, if, after notice is given by the Company Issuer to the Trustee for the Securities of such series of the proposed manner of payment pursuant to this clause, such manner of payment shall be deemed practicable by the such Trustee.
(c) . Subject to the foregoing provisions in of this Section 3.08307 and Section 305, each Security delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, of or in exchange for or in lieu of any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 1 contract
Samples: Indenture (Acadia Realty Trust)
Payment of Interest; Interest Rights Preserved. (a) Interest Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name such that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Dateinterest. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) or, at the option of the Company, by check mailed to the address of the Person entitled thereto as such address shall appear in the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holder.
(b) Any interest on any Security that of a particular series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “"Defaulted Interest”") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the CompanyCompany or the Guarantor, at its election in each case, as provided in clause Clause (i1) or (ii2) below:
(i1) The Company or the Guarantor may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such Securities series (or their respective Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest (a “Special Record Date”)Interest, which shall be fixed in the following manner. The Company or the Guarantor shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such Security series and the date of the proposed payment, and at the same time the Company or the Guarantor, as the case may be, shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit with the Trustee or designated Paying Agent prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause Clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders of such Securities at their addresses as they appear in the Register, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii).
(ii) The Company may make payment of any Defaulted Interest on Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed or of any automated quotation system on which any such Securities may be quoted, and upon such notice as may be required by such exchange or quotation system, as applicable, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) Subject to the foregoing provisions in this Section 3.08, each Security delivered under this Indenture in exchange or substitution for, or upon registration of transfer of, any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.such
Appears in 1 contract
Samples: Indenture (Mellon Financial Corp)