Payment of Interest; Interest Rights Preserved. 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any interest on any Security 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 having been such Holder, and such Defaulted Interest may be paid by the Corporation, at its election in each case, as provided in Clause (1) or (2) below: (1) The Corporation may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation of such Special Record Date and, in the name and at the expense of the Corporation, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given to each Holder of Securities of such series in the manner set forth in Section 106, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2). (2) The Corporation 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, if any, on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation to the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 12 contracts
Samples: Subordinated Indenture (Sce Trust I), Senior Indenture (Sempra Energy Holdings), Subordinated Indenture (Duke Capital Financing Trust V)
Payment of Interest; Interest Rights Preserved. Except as Unless otherwise provided specified as contemplated by Section 301 with respect to the Securities of any series of Securitiesseries, 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Subject to Section 301 with respect to any series of Securities311, any interest on any Security 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 related Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause clause (1a) or (2b) below:
(1a) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a date (herein called a "Special Record Date Date") for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall promptly cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of such series at the address of such Holder as it appears in the manner set forth in Section 106Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2)Date.
(2b) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection and Section 305, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 9 contracts
Samples: Junior Subordinated Indenture (Atlantic City Electric Co), Indenture (Allete Capital Iii), Indenture (Txu Electric Capital Viii)
Payment of Interest; Interest Rights Preserved. Except as Unless otherwise provided specified as contemplated by Section 301 with respect to the Securities of any series of Securitiesseries, or any Tranche thereof, 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Subject to Section 301 with respect to any series of Securities312, any interest on any Security 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 related Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause clause (1a) or (2b) below:
(1a) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a date (herein called a "Special Record Date Date") for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall promptly cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of such series at the address of such Holder as it appears in the manner set forth in Section 106Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2)Date.
(2b) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection and Section 305, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 7 contracts
Samples: Indenture (Txu Capital Iv), Indenture (Txu Electric Capital Viii), Indenture (Txu Corp /Tx/)
Payment of Interest; Interest Rights Preserved. Except as Unless otherwise provided specified as contemplated by Section 301 with respect to the Securities of any series of Securitiesseries, or any Tranche thereof, 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any Any interest on any Security 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 related Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause clause (1a) or (2b) below:
(1a) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a date (herein called a "Special Record Date Date") for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall promptly cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of such series at the address of such Holder as it appears in the manner set forth in Section 106Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2)Date.
(2b) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection and Section 305, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 7 contracts
Samples: Indenture (Texas Utilities Electric Co), Indenture (Texas Utilities Electric Co), Indenture (Texas Utilities Co /Tx/)
Payment of Interest; Interest Rights Preserved. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to At the option of the Issuer, interest on the Securities of any series that bear interest may be paid by mailing a check to the address of Securities, any the Person entitled thereto as such address shall appear in the Security Register. Any interest on any Security 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 having been such Holder, and such Defaulted Interest may be paid by the CorporationIssuer, at its election in each case, as provided in Clause clause (1) or (2) below:
(1) The Corporation Issuer may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Issuer of such Special Record Date and, in the name and at the expense of the CorporationIssuer, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of such series at his address as it appears in the manner set forth in Section 106Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2).
(2) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Issuer to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 6 contracts
Samples: Indenture (Willis Netherlands Holdings B.V.), Indenture (Willis Netherlands Holdings B.V.), Indenture (Willis Netherlands Holdings B.V.)
Payment of Interest; Interest Rights Preserved. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest 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 person in whose name that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to At the option of the Company, interest on the Securities of any series that bear interest may be paid by mailing a check to the address of Securities, any the Person entitled thereto as such address shall appear in the Security Register. Any interest on any Security 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 having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause (1) or (2) below:
(1) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of such series at his address as it appears in the manner set forth in Section 106Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2).
(2) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 5 contracts
Samples: Subordinated Indenture (Century Communications Corp), Indenture (Centennial Puerto Rico Operations Corp), Indenture (Centennial Puerto Rico Operations Corp)
Payment of Interest; Interest Rights Preserved. Except as Unless otherwise provided specified as contemplated by Section 301 with respect to the Securities of any series of Securitiesseries, or any Tranche thereof, 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Subject to Section 301 with respect to any series of Securities312, any interest on any Security 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 related Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause clause (1a) or (2b) below:
(1a) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a date (herein called a "Special Record Date Date") for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall promptly cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of such series at the address of such Holder as it appears in the manner set forth in Section 106Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2)Date.
(2b) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection and Section 305, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 5 contracts
Samples: Indenture (FPL Group Trust II), Indenture (Florida Power & Light CO Trust II), Indenture (Ies Utilities Inc)
Payment of Interest; Interest Rights Preserved. Except as (a) Unless otherwise provided as contemplated by Section 301 2.02 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any .
(b) Any interest on any Security 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 having been such Holder, and such Defaulted Interest may be paid by the CorporationIssuers, at its election in each case, as provided in Clause clause (1i) or (2ii) below:
(1i) The Corporation Issuers may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Issuers shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Issuers of such Special Record Date and, in the name and at the expense of the CorporationIssuers, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of such series at his address as it appears in the manner set forth in Section 106Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2ii).
(2ii) The Corporation Issuers 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Issuers to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection and Section 3.04, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 5 contracts
Samples: Indenture (Suburban Propane Partners Lp), Indenture (Suburban Propane Partners Lp), Indenture (Suburban Propane Partners Lp)
Payment of Interest; Interest Rights Preserved. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to At the option of the Issuer, interest on the Securities of any series that bear interest may be paid by mailing a check to the address of Securities, any the Person entitled thereto as such address shall appear in the Security Register. Any interest on any Security 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 having been such Holder, and such Defaulted Interest may be paid by the CorporationIssuer, at its election in each case, as provided in Clause clause (1) or (2) below:
(1) The Corporation Issuer may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 clause provided. Thereupon Thereupon, the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Issuer of such Special Record Date and, in the name and at the expense of the CorporationIssuer, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of such series at his address as it appears in the manner set forth in Section 106Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2).
(2) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Issuer to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 4 contracts
Samples: Indenture (Willis Netherlands Holdings B.V.), Indenture (Willis Netherlands Holdings B.V.), Indenture (Willis Netherlands Holdings B.V.)
Payment of Interest; Interest Rights Preserved. Except as Unless otherwise provided specified as contemplated by Section 301 with respect to the Securities of any series of Securitiesseries, 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Subject to Section 301 with respect to any series of Securities311, any interest on any Security 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 related Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause clause (1a) or (2b) below:
(1a) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities Secu- rities of such series (or their respective Predecessor Securities) are registered at the close of business on a date (herein called a "Special Record Date Date") for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall promptly cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of such series at the address of such Holder as it appears in the manner set forth in Section 106Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed pro- posed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities Secu- rities of such 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 (2)Date.
(2b) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection and Section 305, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 4 contracts
Samples: Indenture (Texas Utilities Co /Tx/), Indenture (Mp&l Capital I), Indenture (Mp&l Capital I)
Payment of Interest; Interest Rights Preserved. Except as Unless otherwise provided specified as contemplated by Section 301 with respect to the Securities of any series of Securitiesseries, or any Tranche thereof, 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any Any interest on any Security 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 related Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each caseelection, as provided in Clause clause (1a) or (2b) below:
(1a) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a date (a "Special Record Date Date") for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the Corporation, Company shall promptly cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of such series at the address of such Holder as it appears in the manner set forth in Section 106Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2)Date.
(2b) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection and Section 305, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 3 contracts
Samples: Indenture and Deed of Trust (Oncor Electric Delivery Co), Indenture (Mdu Resources Group Inc), Indenture (Mdu Resources Group Inc)
Payment of Interest; Interest Rights Preserved. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest 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 person in whose name that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to At the option of the Issuer, interest on the Securities of any series that bear interest may be paid by mailing a check to the address of Securities, any the Person entitled thereto as such address shall appear in the Security Register. Any interest on any Security 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 having been such Holder, and such Defaulted Interest may be paid by the CorporationIssuer, at its election in each case, as provided in Clause (1) or (2) below:
(1) The Corporation Issuer may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Issuer of such Special Record Date and, in the name and at the expense of the CorporationIssuer, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of such series at his address as it appears in the manner set forth in Section 106Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2).
(2) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Issuer to the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 3 contracts
Samples: Indenture (Centennial Puerto Rico Operations Corp), Indenture (Centennial Puerto Rico Operations Corp), Indenture (Centennial Puerto Rico Operations Corp)
Payment of Interest; Interest Rights Preserved. Except as Unless otherwise provided specified as contemplated by Section 301 with respect to the Securities of any series of Securitiesseries, or any Tranche thereof, 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Subject to Section 301 with respect to any series of Securities312, any interest on any Security 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 related Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause clause (1a) or (2b) below:
(1a) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a date (herein called a "Special Record Date Date") for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall promptly cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of such series at the address of such Holder as it appears in the manner set forth in Section 106Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2)Date.
(2b) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection and Section 305, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to interest which may accrue, which were carried by such other Security.
Appears in 3 contracts
Samples: Indenture (Laclede Capital Trust I), Indenture (National Fuel Gas Co), Indenture (For Unsecured Debt Securities) (National Fuel Gas Co)
Payment of Interest; Interest Rights Preserved. 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any interest on any Security 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 having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause (1) or (2) below:
(1) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given to each Holder of Securities of such series in the manner set forth in Section 106, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2).
(2) The Corporation 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, if any, on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 3 contracts
Samples: Senior Indenture (Alpha Natural Resources, Inc.), Senior Indenture (Massey Energy Co), Indenture (Energy Transport CO)
Payment of Interest; Interest Rights Preserved. Except as otherwise provided as contemplated by Section 301 with respect to any series of SecuritiesInterest or Liquidated Damages, interest if any, on any Security which is that are payable, and is are punctually paid or duly provided for, on any an Interest Payment Date with respect to such Security shall be paid to the Person in whose name that such Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securitiessuch Security for such interest or Liquidated Damages, any if any. Any interest or Liquidated Damages on any Security of any series which is that are payable, but is are not punctually paid or duly provided for, on any an Interest Payment Date for such Security (herein called "“Defaulted Interest"”) shall forthwith cease to be payable to the Holder on the relevant Regular Record Date for such Security by virtue of having been held by such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause clause (1a) or (2b) below:
(1a) The Corporation Company may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names the relevant Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a date (a “Special Record Date Date”) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 provided in this Clause providedclause. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of the relevant Securities of such series at his, her or its address as it appears in the manner set forth in Section 106Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the relevant Securities of such 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 (2b).
(2b) The Corporation 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, if any, exchange on which such the Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection 3.08, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest or Liquidated Damages, if any, accrued and unpaid, and to accrueaccrue interest and Liquidated Damages, if any, which were carried by such other Security.
Appears in 2 contracts
Samples: Indenture (Texas Unwired), Indenture (Texas Unwired)
Payment of Interest; Interest Rights Preserved. Except as otherwise provided as contemplated by Section 301 3.1 with respect to any series Securities of Securitiesa 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interestinterest (whether or not such day is a Business Day). Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any Any interest on any Security 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 having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause (1) or (2) below:
(1) The Corporation Company may elect to make payment of any Defaulted Interest payable on any Securities of a series to the Persons in whose names the such Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series Securities and the date of the proposed payment, and at the same time the Corporation 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 provided in this Clause providedclause (1). Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given to each Holder of such Securities of such series in the manner set forth in Section 10614.4, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the such Securities of such 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 (2).
(2) The Corporation Company may make payment of any Defaulted Interest on the any Securities of any a series in any other lawful manner not inconsistent with the requirements of any securities exchange, if any, exchange or automated quotation system on which such Securities may be listedlisted or traded, and upon such notice as may be required by such exchangeexchange or automated quotation system, if, after written notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. Except as may otherwise be provided in this Section 3.9 or as contemplated in Section 3.1 with respect to any Securities of a series, the Person to whom interest shall be payable on any Security that first becomes payable on a day that is not an Interest Payment Date shall be the Holder of such Security on the day such interest is paid. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry 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), 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. 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 2 contracts
Samples: Senior Subordinated Indenture (Mohawk Capital Luxembourg SA), Senior Subordinated Indenture (Mohawk Capital Luxembourg SA)
Payment of Interest; Interest Rights Preserved. 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, to the Trustee by 10:00 a.m. (local time at the Place of Payment) on any Interest Payment Date shall be paid on such Interest Payment Date to the Person in whose name that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any Any interest on any Security 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 having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause (1) or (2) below:
(1) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given to each Holder of Securities of such series in the manner set forth in Section 106, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2).
(2) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry 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 Group, Inc.), Indenture (TAL International Group, Inc.)
Payment of Interest; Interest Rights Preserved. Except as Unless otherwise provided as contemplated by Section 301 with respect to any series of Securitiessuch 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any Any interest on any Security 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 having been such Holder, and and, except as hereinafter provided, such Defaulted Interest may be paid by the Corporationapplicable Issuer or the Guarantor, at its election in each case, as provided in Clause (1) or Clause (2) below:
(1) The Corporation applicable Issuer or the Guarantor may elect to make payment of any Defaulted Interest to the Persons in whose names the any such Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, Interest which shall be fixed in the following manner. The Corporation applicable Issuer or the Guarantor shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security of such series and the date of the proposed payment, and at the same time such Issuer or the Corporation Guarantor 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 days and not nor less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation applicable Issuer or the Guarantor of such Special Record Date and, in the name and at the expense of such Issuer or the CorporationGuarantor, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each the Holder of Securities of each such series Security at his address as it appears in the manner set forth in Section 106Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailedmailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names the such Securities of such 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 (2).
(2) The Corporation applicable Issuer or the Guarantor 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by such Issuer or the Corporation Guarantor to the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. 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 of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 2 contracts
Samples: Indenture (Upr Capital Co), Indenture (Union Pacific Resources Group Inc)
Payment of Interest; Interest Rights Preserved. Except as Unless otherwise provided specified as contemplated by Section 301 with respect to the Securities of any series of Securitiesseries, 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any Any interest on any Security 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 related Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause clause (1a) or (2b) below:
(1a) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a date (herein called a "Special Record Date Date") for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall promptly cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of such series at the address of such Holder as it appears in the manner set forth in Section 106Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2)Date.
(2b) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection and Section 305, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 2 contracts
Samples: Indenture (Minnesota Power & Light Co), Indenture (Txu Australia Holdings Partnership L P)
Payment of Interest; Interest Rights Preserved. 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any interest on any Security 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 having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause (1) or (2) below:
(1) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and and, at the same time time, the Corporation 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 Interest, or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment. Such money, such money when deposited to deposited, will be held in trust 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 Interest, which date shall be not more than 15 fifteen (15) days and not less than 10 ten (10) days prior to the date of the proposed payment payment, and not less than 10 ten (10) days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given to each Holder of Securities of such series in the manner set forth in Section 106, not less than 10 ten (10) days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date Date, and shall no longer be payable pursuant to the following Clause clause (2).
(2) The Corporation 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, if any, on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of of, or in exchange for for, or in lieu of of, any other Security Security, shall carry the same rights to interest accrued and unpaid, and to accrue, which were carried by such other Security. Subject to the provisions of Section 1502, in the case of any Security (or any part thereof) which is converted after any Regular Record Date and on or prior to the next succeeding Interest Payment Date (other than any Security the principal of (or premium, if any, on) which shall become due and payable, whether at Stated Maturity or by declaration of acceleration 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 any 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 or in Section 1502, in the case of any Security (or any part thereof) which is converted, interest whose Stated Maturity is after the date of conversion of such Security (or such part thereof) shall not be payable.
Appears in 2 contracts
Samples: Indenture (Maverick Tube Corporation), Indenture (Maverick Tube Corporation)
Payment of Interest; Interest Rights Preserved. 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any interest on any Security 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 having been such Holder, and such Defaulted Interest may be paid by the Corporation, at its election in each case, as provided in Clause (1) or (2) below:
(1) The Corporation may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation of such Special Record Date and, in the name and at the expense of the Corporation, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given to each Holder of Securities of such series in the manner set forth in Section 106, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2).
(2) The Corporation 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, if any, on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation to the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 2 contracts
Samples: Subordinated Indenture (Eix Trust Iii), Senior Indenture (Eix Trust Iii)
Payment of Interest; Interest Rights Preserved. Except as Unless otherwise provided specified as contemplated by Section 301 with respect to the Securities of any series of Securitiesseries, or any Tranche thereof, 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any Any interest on any Security 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 related Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause clause (1a) or (2b) below:
(1a) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities Secu rities of such series (or their respective Predecessor Securities) are registered at the close of business on a date (herein called a "Special Record Date Date") for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed pro posed payment, and at the same time the Corporation Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted De faulted 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall promptly cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of such series at the address of such Holder as it appears in the manner set forth in Section 106Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2)Date.
(2b) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection and Section 305, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 2 contracts
Samples: Indenture (Arkansas Power & Light Co), Indenture (Louisiana Power & Light Co /La/)
Payment of Interest; Interest Rights Preserved. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to At the option of the Issuer, interest on the Securities of any series that bear interest may be paid by mailing a check to the address of Securities, any the Person entitled thereto as such address shall appear in the Security Register. Any interest on any Security 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 having been such Holder, and such Defaulted Interest may be paid by the CorporationIssuer, at its election in each case, as provided in Clause clause (1) or (2) below:
(1) The Corporation Issuer may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Issuer of such Special Record Date and, in the name and at the expense of the CorporationIssuer, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of such series at his address as it appears in the manner set forth in Section 106Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2).
(2) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Issuer to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 2 contracts
Samples: Indenture (Willis North America Inc), Indenture (Ta Iii LTD)
Payment of Interest; Interest Rights Preserved. Except as Unless otherwise provided specified as contemplated by Section 301 3.01 with respect to the Securities of any series of Securitiesseries, or any Tranche thereof, 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any Any interest on any Security 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 related Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause clause (1a) or (2b) below:
(1a) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a date (herein called a "Special Record Date Date") for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 thirty (30) days and not less than 10 ten (10) days prior to the date of the proposed payment and not less than 10 twenty-five (25) days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall shall, not less than fifteen (15) days prior to such Special Record Date, cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given to each Holder of Securities of such series in the manner set forth in Section 106, not less than 10 days prior to such Special Record Dateseries. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2)Date.
(2b) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection and Section 3.05, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 2 contracts
Samples: General and Refunding Mortgage Indenture (Nevada Power Co), General and Refunding Mortgage Indenture (Nevada Power Co)
Payment of Interest; Interest Rights Preserved. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any Any interest on any Security 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 having been such Holder, and such Defaulted Interest may be paid by the CorporationIssuer, at its election in each case, as provided in Clause (1) or (2) below:
(1) The Corporation Issuer or a Guarantor may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Issuer or a Guarantor shall notify the Trustee and Principal Paying Agent in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation Issuer shall deposit with the Trustee or the Principal Paying Agent, as applicable, 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 or the Principal Paying Agent, as applicable, 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 or such Guarantor shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee Issuer or such Guarantor shall promptly notify the Corporation Trustee of such Special Record Date and, in the name and at the expense of the CorporationIssuer or such Guarantor, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of such series in the manner set forth in Section 106, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2).
(2) The Corporation Issuer or a Guarantor 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Corporation Issuer or such Guarantor to the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection 307, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 2 contracts
Payment of Interest; Interest Rights Preserved. Except as Unless otherwise provided as contemplated by Section 301 with respect to the Securities of any series of Securitiesseries, or any Tranche thereof, 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any Any interest on any Security 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 related Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause clause (1a) or (2b) below:
(1a) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a date (a "Special Record Date Date") for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall promptly cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of such series at the address of such Holder as it appears in the manner set forth in Section 106Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2)Date.
(2b) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection and Section 305, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 2 contracts
Samples: Indenture (Grand Court Lifestyles Inc), Indenture (Grand Court Lifestyles Inc)
Payment of Interest; Interest Rights Preserved. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest 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 person in whose name that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to At the option of the Issuer, interest on the Securities of any series that bear interest may be paid by mailing a check to the address of Securities, any the Person entitled thereto as such address shall appear in the Security Register. Any interest on any Security 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 having been such Holder, and such Defaulted Interest may be paid by the CorporationIssuer, at its election in each case, as provided in Clause clause (1) or (2) below:
(1) The Corporation Issuer may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Issuer of such Special Record Date and, in the name and at the expense of the CorporationIssuer, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of such series at his address as it appears in the manner set forth in Section 106Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2).
(2) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Issuer to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 2 contracts
Samples: Indenture (Willis North America Inc), Indenture (Willis North America Inc)
Payment of Interest; Interest Rights Preserved. 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any interest on any Security 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 having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause (1) or (2) below:
(1) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given to each Holder of Securities of such series in the manner set forth in Section 106, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2).
(2) The Corporation 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, if any, on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 2 contracts
Samples: Indenture (Texas Eastern Transmission Corp), Indenture (Duke Energy Field Services LLC)
Payment of Interest; Interest Rights Preserved. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any Any interest (including Liquidated Damages) on any Security 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 (a) bear interest at the rate per annum stated in the form of Security included herein (to the extent that the payment of such interest shall be legally enforceable), and (b) forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause (1) or (2) below:
(1) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of such series at his address as it appears in the manner set forth in Section 106Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2).
(2) The Corporation 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, if any, exchange on which such the Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 2 contracts
Samples: Indenture (Xo Communications Inc), Indenture (Xo Communications Inc)
Payment of Interest; Interest Rights Preserved. Except as Unless otherwise provided as contemplated by Section 301 with respect to the Securities of any series of Securitiesseries, or any Tranche thereof, 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any Any interest on any Security 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 related Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each caseelection, as provided in Clause clause (1a) or (2b) below:
(1a) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a date (a "Special Record Date Date") for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the Corporation, Company shall promptly cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of such series at the address of such Holder as it appears in the manner set forth in Section 106Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2)Date.
(2b) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection and Section 305, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 2 contracts
Samples: Indenture (PPL Electric Utilities Corp), Indenture (PPL Electric Utilities Corp)
Payment of Interest; Interest Rights Preserved. Except as otherwise provided as contemplated by Section 301 3.1 with respect to any series Securities of Securitiesa 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interestinterest (whether or not such day is a Business Day). Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any Any interest on any Security 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 having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause (1) or (2) below:
(1) The Corporation Company may elect to make payment of any Defaulted Interest payable on any Securities of a series to the Persons in whose names the such Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series Securities and the date of the proposed payment, and at the same time the Corporation 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 provided in this Clause providedclause (1). Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given to each Holder of such Securities of such series in the manner set forth in Section 10613.4, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the such Securities of such 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 (2).
(2) The Corporation Company may make payment of any Defaulted Interest on the any Securities of any a series in any other lawful manner not inconsistent with the requirements of any securities exchange, if any, exchange or automated quotation system on which such Securities may be listedlisted or traded, and upon such notice as may be required by such exchangeexchange or automated quotation system, if, after written notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. Except as may otherwise be provided in this Section 3.9 or as contemplated in Section 3.1 with respect to any Securities of a series, the Person to whom interest shall be payable on any Security that first becomes payable on a day that is not an Interest Payment Date shall be the Holder of such Security on the day such interest is paid. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry 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), 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. 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 2 contracts
Samples: Senior Indenture (Mohawk Capital Luxembourg SA), Senior Indenture (Mohawk Capital Luxembourg SA)
Payment of Interest; Interest Rights Preserved. Except as Unless otherwise provided specified as contemplated by Section 301 with respect to the Securities of any series of Securitiesseries, 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any Any interest on any Security 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 related Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause clause (1a) or (2b) below:
(1a) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a date (herein called a "Special Record Date Date") for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall promptly cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of such series at the address of such Holder as it appears in the manner set forth in Section 106Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2)Date.
(2b) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection and Section 305, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to interest which may accrue, which were carried by such other Security.
Appears in 2 contracts
Samples: Indenture (For Unsecured Debt Securities) (Allete Capital Iii), Indenture (Minnesota Power Inc)
Payment of Interest; Interest Rights Preserved. Except as otherwise provided as contemplated by Section 301 with respect Subject to any series the last paragraph of Securitiesthis Section, interest (including Additional Interest and Special Interest, if any) on any Security which that is payable, and is punctually paid or duly provided for, on any Interest Payment Date 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 the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to any series of SecuritiesAny interest (including Additional Interest and Special Interest, any interest if any) on any Security of any series which 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 having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause (1) or (2) below:
(1) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a “Special Record Date Date” for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall promptly notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and Security, the date of the proposed paymentpayment and the Special Record Date, and at the same time the Corporation 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 The Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the actual receipt by a Responsible Officer of the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation of such Special Record Date andTrustee, in the name and at the expense of the CorporationCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of at such series Holder’s address as it appears in the manner set forth in Section 106Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2).
(2) The Corporation 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, if any, exchange or automated quotation system on which such the Securities may be listedlisted or designated for issuance, and upon such notice as may be required by such exchangeexchange or automated quotation system, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection 3.7 and Section 3.5, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security. Interest on any Security that is converted in accordance with Section 12.2 during a Record Date Period shall be payable in accordance with the provisions of Section 12.2.
Appears in 1 contract
Samples: Indenture (Alesco Financial Inc)
Payment of Interest; Interest Rights Preserved. Except as Unless otherwise provided specified as contemplated by Section 301 with respect to the Securities of any series of Securitiesseries, or any Tranche thereof, 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Subject to Section 301 with respect to any series of Securities, 312 any interest on any Security 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 related Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause clause (1a) or (2b) below:
(1a) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a date (herein called a "Special Record Date Date") for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall promptly cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of such series at the address of such Holder as it appears in the manner set forth in Section 106Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and Date. The Trustee shall no longer be payable pursuant entitled to conclusively rely on the following Clause (2)Company's instructions, including any list of Holders as it appears in the Security Register, with respect to any payment of Defaulted Interest under this Section 307.
(2b) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection and Section 305, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 1 contract
Samples: Indenture for Unsecured Subordinated Debt Securities (Union Electric Co)
Payment of Interest; Interest Rights Preserved. Except as Unless otherwise provided specified as contemplated by Section 301 with respect to the Securities of any series of Securitiesseries, 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Subject to Section 301 with respect to any series of Securities311, any interest on any Security 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 related Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause clause (1a) or (2b) below:
(1a) The Corporation may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall promptly cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of such series at the address of such Holder as it appears in the manner set forth in Section 106Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2)Date.
(2b) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection and Section 305, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry 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. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to At the option of the Issuer, interest on the Securities of any series that bear interest may be paid by mailing a check to the address of Securities, any the Person entitled thereto as such address shall appear in the Security Register. Any interest on any Security 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 having been such Holder, and such Defaulted Interest may be paid by the CorporationIssuer, at its election in each case, as provided in Clause clause (1) or (2) below:
(1) The Corporation Issuer may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Issuer of such Special Record Date and, in the name and at the expense of the CorporationIssuer, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of such series at his address as it appears in the manner set forth in Section 106Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2).
(2) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Issuer to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSECTION 3.07, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry 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. Except as Unless otherwise provided as contemplated by Section 301 with respect to any series of Securities3.01, interest on any Registered Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall unless otherwise provided in such Security be paid to the Person in whose name that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as Unless otherwise provided specified as contemplated by Section 301 with respect to any series of Securities3.01, any interest on any in case a Bearer Security of any series which is payable, but is not punctually paid surrendered in exchange for a Registered Security of such series after the close of business (at an office or duly provided for, on any Interest Payment Date (herein called "Defaulted Interest"agency referred to in Section 3.05) shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Corporation, at its election in each case, as provided in Clause (1) or (2) below:32
(1i) The Corporation Company may elect to make payment payments of any Defaulted Interest to the Persons in whose names the any such Registered Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Registered Security of such series and the date of the proposed payment, and at the same time the Corporation 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 days and not nor less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class, postage prepaid, to each Holder of Securities of such series at his address as it appears in the manner set forth in Section 106Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailedmailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names the such Registered Securities of such 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 (2ii). In case a Bearer Security of any series is surrendered at the office or agency in a Place of Payment for such series in exchange for a Registered Security of such series after the close of business at such office or agency on any Special Record Date and before the opening of business at such office or agency on the related proposed date of payment of Defaulted Interest, such Bearer Security shall be surrendered without the coupon relating to such proposed date for payment and Defaulted Interest will not be payable on such proposed date for payment in respect of the Registered Security issued in exchange for such Bearer Security, but will be payable only to the Holder of such coupon when due in accordance with the provisions of this Indenture.
(2ii) The Corporation 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, if any, exchange on which the Securities with respect to which there exists such Securities default may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of of, or in exchange for for, or in lieu of of, any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.. 33
Appears in 1 contract
Samples: Indenture (First Chicago NBD Corp)
Payment of Interest; Interest Rights Preserved. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest Interest on any Security which that is payable, and is punctually paid or duly provided for, on any Interest Payment Date 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 the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect For the purpose of any interest payment in Registered Common Stock, whether in whole or in part, such payment will have a fair market value equal to any series of Securities, any the interest payment due on the Interest Payment Date. Any interest on any Security of any series which 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 having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause clause (1a) or (2b) below:
(1a) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a special record date (the “Special Record Date Date”) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and Security, the date of the proposed paymentpayment and the Special Record Date, and at the same time the Corporation 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 provided in this Clause providedclause. Thereupon the Trustee shall fix a The Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 fifteen (15) days and not less than 10 ten (10) days prior to the date of the proposed payment and not less than 10 fifteen (15) days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation of such Special Record Date andTrustee, in the name and at the expense of the CorporationCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of at such series Holder’s address as it appears in the manner set forth in Section 106Security Register, not less than 10 ten (10) days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2b).
(2b) The Corporation 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, if any, exchange on which such the Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection 2.11 and Section 2.09, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which that were carried by such other Security. Interest on any Security that is converted in accordance with Section 9.02 during a Record Date Period shall be payable in accordance with the provisions of Section 9.02.
Appears in 1 contract
Samples: Indenture (Epicept Corp)
Payment of Interest; Interest Rights Preserved. Except as Unless otherwise provided specified as contemplated by Section 301 with respect to the Securities of any series of Securitiesseries, or any Tranche thereof, 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any Any interest on any Security 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 related Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause clause (1a) or (2b) below:
(1a) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a date (herein called a "Special Record Date Date") for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall promptly cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of such series at the address of such Holder as it appears in the manner set forth in Section 106Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2)Date.
(2b) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection and Section 305, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 1 contract
Samples: Indenture (Entergy Mississippi Inc)
Payment of Interest; Interest Rights Preserved. Except as otherwise provided as contemplated by Section 301 3.1 with respect to any series Securities of Securitiesa 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interestinterest (whether or not such day is a Business Day). Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any Any interest on any Security 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 having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause (1) or (2) below:
(1) The Corporation Company may elect to make payment of any Defaulted Interest payable on any Securities of a series to the Persons in whose names the such Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series Securities and the date of the proposed payment, and at the same time the Corporation 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 provided in this Clause providedclause (1). Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given to each Holder of such Securities of such series in the manner set forth in Section 10613.4, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the such Securities of such 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 (2).
(2) The Corporation Company may make payment of any Defaulted Interest on the any Securities of any a series in any other lawful manner not inconsistent with the requirements of any securities exchange, if any, exchange or automated quotation system on which such Securities may be listedlisted or traded, and upon such notice as may be required by such exchangeexchange or automated quotation system, if, after written notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. Except as may otherwise be provided in this Section 3.9 or as contemplated in Section 3.1 with respect to any Securities of a series, the Person to whom interest shall be payable on any Security that first becomes payable on a day that is not an Interest Payment Date shall be the Holder of such Security on the day such interest is paid. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry 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), 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
Exhibit 4.1 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. 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
Payment of Interest; Interest Rights Preserved. Except as Unless 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any Any interest on any Security 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 having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause (1) or (2) below:
(1) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. : The Corporation shall Company 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 series and the date of the proposed payment, and at the same time the Corporation 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of such series at his address as it appears in the manner set forth in Section 106Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2).
(2) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 1 contract
Samples: Indenture (Inco LTD)
Payment of Interest; Interest Rights Preserved. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to At the option of the Issuer, interest on the Securities of any series that bear interest may be paid by mailing a check to the address of Securities, any the Person entitled thereto as such address shall appear in the Security Register. Any interest on any Security 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 having been such Holder, and such Defaulted Interest may be paid by the CorporationIssuer, at its election in each case, as provided in Clause clause (1) or (2) below:
(1) The Corporation Issuer may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Issuer of such Special Record Date and, in the name and at the expense of the CorporationIssuer, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of such series at his address as it appears in the manner set forth in Section 106Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2).
(2) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Issuer to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection 3.07, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry 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. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any Any interest on any Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (which, together with any interest at the rate specified in the Securities on any overdue installment of interest (to the extent that the payment of such interest shall be legally enforceable) is herein called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause (1) or (2) below:
(1) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names name the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of such series at his address as it appears in the manner set forth in Section 106Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2).
(2) The Corporation 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, if any, exchange on which such the Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 1 contract
Samples: Second Supplemental Indenture (Lamar Advertising Co)
Payment of Interest; Interest Rights Preserved. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest Interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid at the Place of Payment to the Person in whose name that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, except that at the option of the Company payment may be made (i) except in the case of a global Security by check mailed to the address of the Person entitled to this Indenture as such address appears in the Securities Registrar or (ii) by transfer to an account maintained by the Person entitled to this Indenture as specified in the Securities Registrar provided that proper transfer instructions have been received by the Regular Record Date. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any Any interest on any Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein in this Indenture called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause clause (1a) or (2b) below:
(1a) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 providedSection 3.7. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 days and not less than 10 ten days prior to the date of the proposed payment and not less than 10 ten days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of such series at his address as it appears in the manner set forth in Section 106Security Register, not less than 10 ten days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2b).
(2b) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this ClauseSection 3.7, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection 3.7, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 1 contract
Samples: Senior Debt Indenture (Kforce Inc)
Payment of Interest; Interest Rights Preserved. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest 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 that the Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except , and (except as otherwise provided specified as contemplated by Section 301 with respect 3.1 for Securities of any series) at maturity, to any series of Securities, any the Persons to whom principal is payable. Any interest on any Security 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 having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause clause (1a) or (2b) below:
(1a) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business and on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company in writing of such Special Record Date and, in the name and at the expense of the CorporationCompany, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of such series at his address as it appears in the manner set forth in Section 106Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons Person in whose names the Securities of such 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 (2b).
(2b) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 1 contract
Samples: Indenture (Colony Financial, Inc.)
Payment of Interest; Interest Rights Preserved. Except as Unless otherwise provided specified as contemplated by Section 301 with respect to the Notes of any series of Securitiesseries, or any Tranche thereof, 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 that Security Note (or one or more Predecessor SecuritiesNotes) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any Any interest on any Security Note 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 related Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause clause (1a) or (2b) below:
(1a) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities Notes of such series (or their respective Predecessor SecuritiesNotes) are registered at the close of business on a date (herein called a "Special Record Date Date") for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security Note of such series and the date of the proposed payment, and at the same time the Corporation 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall promptly cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities Notes of such series at the address of such Holder as it appears in the manner set forth in Section 106Note Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities Notes of such series (or their respective Predecessor SecuritiesNotes) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following Clause (2)Date.
(2b) The Corporation Company may make payment of any Defaulted Interest on the Securities Notes of any series in any other lawful manner not inconsistent with the requirements of any securities exchange, if any, exchange on which such Securities Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection and Section 305, each Security Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other SecurityNote.
Appears in 1 contract
Samples: Indenture (For Senior Notes) (Carolina Power & Light Co)
Payment of Interest; Interest Rights Preserved. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to At the option of the Issuer, interest on the Securities of any series that bear interest may be paid by mailing a check to the address of Securities, any the Person entitled thereto as such address shall appear in the Security Register. Any interest on any Security 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 having been such Holder, and such Defaulted Interest may be paid by the CorporationIssuer, at its election in each case, as provided in Clause clause (1) or (2) below:
(1) The Corporation Issuer may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Issuer of such Special Record Date and, in the name and at the expense of the CorporationIssuer, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of such series at his address as it appears in the manner set forth in Section 106Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2).
(2) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Issuer to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection3.07, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry 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. Except as Unless otherwise provided as contemplated by Section 301 with respect to any series of SecuritiesSecurities pursuant to Section 3.1, 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any Any interest on any Security 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 its having been such Holder; and, and except as hereinafter provided, such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause clause (1a) or clause (2b) below:
(1a) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security of such series and the date of the proposed payment, and at the same time the Corporation 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given to each Holder of Securities of such series in the manner set forth in Section 1061.6, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2b).
(2b) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of of, or in exchange for for, or in lieu of any other Security Security, shall carry the rights to interest accrued and unpaid, and to accrue, which rights were carried by such other Security.
Appears in 1 contract
Payment of Interest; Interest Rights Preserved. Except as Unless otherwise provided specified as contemplated by Section 301 with respect to the Notes of any series of Securitiesseries, or any Tranche thereof, 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 that Security Note (or one or more Predecessor SecuritiesNotes) is registered at the close of business on the Regular Record Date for such interestinterest payment. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any Any interest on any Security Note 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 related Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause clause (1a) or (2b) below:
(1a) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities Notes of such series (or their respective Predecessor SecuritiesNotes) are registered at the close of business on a date (herein called a "Special Record Date Date") for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security Note of such series and the date of the proposed payment, and at the same time the Corporation 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall promptly cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities Notes of such series at the address of such Holder as it appears in the manner set forth in Section 106Note Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities Notes of such series (or their respective Predecessor SecuritiesNotes) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following Clause (2)Date.
(2b) The Corporation Company may make payment of any Defaulted Interest on the Securities Notes of any series in any other lawful manner not inconsistent with the requirements of any securities exchange, if any, exchange on which such Securities Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection and Section 305, each Security Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other SecurityNote.
Appears in 1 contract
Payment of Interest; Interest Rights Preserved. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to At the option of the Issuer, interest on the Securities of any series that bear interest may be paid by mailing a check to the address of Securities, any the Person entitled thereto as such address shall appear in the Security Register. Any interest on any Security 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 having been such Holder, and such Defaulted Interest may be paid by the CorporationIssuer, at its election in each case, as provided in Clause clause (1) or (2) below:
(1) The Corporation Issuer may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee Issuer shall promptly notify the Corporation Trustee of such Special Record Date and, in the name and at the expense of the CorporationIssuer, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, or sent pursuant to Applicable Procedures, to each Holder of Securities of such series at his address as it appears in the manner set forth in Section 106Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailedmailed or sent, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2).
(2) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Issuer to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry 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. Except as otherwise provided as contemplated by Section 301 3.1 with respect to any series Securities of Securitiesa 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interestinterest (whether or not such day is a Business Day). Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any Any interest on any Security 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 having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause (1) or (2) below:
(1) The Corporation Company may elect to make payment of any Defaulted Interest payable on any Securities of a series to the Persons in whose names the such Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series Securities and the date of the proposed payment, and at the same time the Corporation 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 provided in this Clause providedclause (1). Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given to each Holder of such Securities of such series in the manner set forth in Section 10612.4, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the such Securities of such 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 (2).
(2) The Corporation Company may make payment of any Defaulted Interest on the any Securities of any a series in any other lawful manner not inconsistent with the requirements of any securities exchange, if any, exchange or automated quotation system on which such Securities may be listedlisted or traded, and upon such notice as may be required by such exchangeexchange or automated quotation system, if, after written notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. Except as may otherwise be provided in this Section 3.9 or as contemplated in Section 3.1 with respect to any Securities of a series, the Person to whom interest shall be payable on any Security that first becomes payable on a day that is not an Interest Payment Date shall be the Holder of such Security on the day such interest is paid. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry 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), 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. 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 (Mohawk Industries Inc)
Payment of Interest; Interest Rights Preserved. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest Interest on any Security 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with interest in respect to any series of the Securities, any except that, interest payable on the Stated Maturity of the principal of a Security shall be paid to the Person to whom principal is paid. Any interest on any Security of any series which is payable, but is not punctually timely paid or duly provided for, on any Interest Payment Date for the Securities (herein called "Defaulted Interest") ), shall forthwith cease to be payable to the registered Holder on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Corporation, at its election in each case, as provided in Clause (1) or (2) below:
(1) The Corporation may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities in respect of such series which interest is in default (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation of such Special Record Date and, in the name and at the expense of the Corporation, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first class, postage prepaid, to each Holder of Securities a Security at the address of such series Holder as it appears in the manner set forth in Section 106, Securities Register not less than 10 days prior to such Special Record Date. The Trustee may, in its discretion, in the name and at the expense of the Corporation, cause a similar notice to be published at least once in a newspaper, customarily published in the English language on each Business Day and of general circulation 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 so mailedmailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2).
(2) The Corporation 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, if any, exchange on which such the Securities in respect of which interest is in default may be listedlisted and, and upon such notice as may be required by such exchangeexchange (or by the Trustee if the Securities are not listed), if, after notice given by the Corporation to the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. Any interest on any Security which is deferred or extended pursuant to Section 3.11 shall not be Defaulted Interest for the purposes of this Section 3.7. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry 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. Except as Unless otherwise provided specified as contemplated by Section 301 with respect to the Securities of any series of Securitiesseries, or any Tranche thereof, 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any Any interest on any Security 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 related Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause clause (1a) or (2b) below:
(1a) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities Secu- rities of such series (or their respective Predecessor Securities) are registered at the close of business on a date (herein called a "Special Record Date Date") for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted De- faulted 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall promptly cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of such series at the address of such Holder as it appears in the manner set forth in Section 106Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2)Date.
(2b) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection and Section 305, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 1 contract
Samples: Indenture (For Unsecured Debt Securities) (FPL Group Capital Inc)
Payment of Interest; Interest Rights Preserved. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Registered Security which that is payable, and is punctually paid or duly provided for, on any Interest Payment Date 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 the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any interest on any In case a Bearer Security of any series which is surrendered in exchange for a Registered Security of such series after the close of business (at an office or agency in a Place of Payment for such series) on any Regular Record Date and before the opening of business on the next succeeding Interest Payment Date, such Bearer Security shall be surrendered without the coupon relating to such Interest Payment Date and interest will not be payable on such Interest Payment Date in respect of the Registered Security issued in exchange 29 38 for such Bearer Security, but will be payable only to the Holder of such coupon when due in accordance with the provisions of this Indenture. Any interest on any Registered Security of any series 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 having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause (1) or (2) below:
(1) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 that shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first- class postage prepaid, to each Holder of Securities of such series at his or her address as it appears in the manner set forth in Section 106Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2).
(2) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice is given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security. In the case of any security that 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), interest 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 that is converted, interest after the date of conversion of such security shall not be payable.
Appears in 1 contract
Samples: Indenture (Times Mirror Co /New/)
Payment of Interest; Interest Rights Preserved. Except as Unless otherwise provided specified as contemplated by Section 301 with respect to the Securities of any series of Securitiesseries, 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Subject to Section 301 with respect to any series of Securities311, any interest on any Security 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 related Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause clause (1a) or (2b) below:
(1a) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a date (herein called a "Special Record Date Date") for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted De faulted 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 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall promptly cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of such series at the address of such Holder as it appears in the manner set forth in Section 106Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2)Date.
(2b) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection and Section 305, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 1 contract
Samples: Trust Indenture (Duquesne Light Co)
Payment of Interest; Interest Rights Preserved. Except as (a) Unless otherwise provided as contemplated by Section 301 3.01 with respect to the Bonds of any series of Securitiesseries, or any Tranche thereof, interest on any Security Bond 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 that Security Boxx (or one or more Predecessor SecuritiesBonds) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any .
(b) Any interest on any Security Bond 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 related Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause clause (1i) or (2ii) below:.
(1i) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities Bonds of such series (or their respective Predecessor SecuritiesBonds) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security Bond of such series and the date of the proposed payment, and at the same time the Corporation 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 provided in this Clause providedclause (i). Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 fifteen (15) days and not less than 10 ten (10) days prior to the date of the proposed payment and not less than 10 ten (10) days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall promptly cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities Bonds of such series at the address of such Holder as it appears in the manner set forth in Section 106Bond Register, not less than 10 ten (10) days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities Bonds of such series (or their respective Predecessor SecuritiesBonds) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following Clause clause (2ii).
(2ii) The Corporation Company may make payment of any Defaulted Interest on the Securities Bonds of any series in any other lawful manner not inconsistent with the requirements of any securities exchange, if any, exchange on which such Securities Bonds may be listed, and upon such notice as may be required by such exchange, if, after notice is given by the Corporation 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 of this SectionSection and Section 3.05, each Security Bond delivered under this Indenture upon registration of of, transfer of of, or in exchange for for, or in lieu of of, any other Security Bond shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other SecurityBond.
(d) Except as may otherwise be provided in this Section 3.07 or as contemplated in Section 3.01 with respect to any Bonds of a series, the Person to whom interest shall be payable on any Bond that first becomes payable on a day that is not an Interest Payment Date shall be the Holder of such Bond on the day such interest is paid.
Appears in 1 contract
Samples: Open End Mortgage, General Mortgage Indenture and Deed of Trust (Vistra Corp.)
Payment of Interest; Interest Rights Preserved. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to Payment of interest on the Securities of any series that bears interest may be paid by check mailed to the address of Securities, any the person entitled thereto as such address shall appear in the Security Register. Any interest on any Security 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 having been such Holder, and such Defaulted Interest may shall be paid by the CorporationCompany, at its election in each case, as provided in Clause (1) or (2) below:
(1) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of such series in the manner set forth in Section 106, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2).at
(2) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 1 contract
Samples: Indenture Relating to Senior Subordinated Debt Securities (Oryx Energy Co)
Payment of Interest; Interest Rights Preserved. 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as Unless otherwise provided as contemplated by Section 301 with respect in or pursuant to any series of Securitiesthis Indenture, any interest on any Security 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 having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause (1) or (2) below:
(1) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given to each Holder of Securities of such series in the manner set forth in Section 106, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2).
(2) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry 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. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any Any interest (including Special Interest) on any Security 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 (a) bear interest at the rate per annum stated in the form of Security included herein (to the extent that the payment of such interest shall be legally enforceable), and (b) forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause (1) or (2) below:
(1) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of such series at his address as it appears in the manner set forth in Section 106Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2).
(2) The Corporation 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, if any, exchange on which such the Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry 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. Except as otherwise provided as contemplated by Subject to Section 301 with respect to any series of Securities11.06, 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 that Security such Note (or one or more Predecessor Securitiesany predecessor Note) is registered at the close of business on the Regular Record Date for such interestinterest payment, which shall be the fifteenth calendar day immediately preceding such Interest Payment Date. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any Any interest on any Security of any series Note 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 having been Date, and, except as hereinafter provided, such HolderDefaulted Interest, and any interest payable on such Defaulted Interest may Interest, shall be paid by the CorporationIssuer, at its election in each caseelection, as provided in Clause clause (1a) or (2b) below:
(1a) The Corporation Issuer may elect to make payment of any Defaulted Interest Interest, and to the extent permitted by law, any interest payable on such Defaulted Interest, to the Persons in whose names the Securities of such series (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, which shall be fixed in the following manner. The Corporation Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series the Notes and the date of the proposed payment, and at the same time the Corporation 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 provided in this Clause providedclause (a). 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 Corporation Issuer of such Special Record Date and, in the name and at the expense of the CorporationIssuer, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given sent, first-class mail, postage prepaid, to each Holder of Securities of at such series Holder’s address as it appears in the manner set forth in Section 106Security 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 so mailedmailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such series (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 clause (2b).; or
(2b) The Corporation Issuer may make payment of any Defaulted Interest Interest, and any interest payable on such Defaulted Interest, on the Securities of any series Notes in any other lawful manner not inconsistent with the requirements of any securities exchange, if any, exchange on which such Securities the Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Issuer to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection 2.10, each Security Note delivered under this Indenture upon registration of transfer of of, or in exchange for for, or in lieu of of, any other Security Note, shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other SecurityNote.
Appears in 1 contract
Samples: Indenture (Mobile Telesystems Ojsc)
Payment of Interest; Interest Rights Preserved. Except as otherwise provided as contemplated by Section 301 with respect to the Securities of any series of Securitiesseries, or any Tranche thereof, 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interestinterest in respect of Securities of such series, or any Tranche thereof, except that, unless otherwise provided in the Securities of such series, or any Tranche thereof, interest payable on the Stated Maturity of the principal of a Security shall be paid to the Person to whom principal is paid. The initial payment of interest on any Security of any series which is issued between a Regular Record Date and the related Interest Payment Date shall be payable as provided in such Security or in the Manager Resolution pursuant to Section 301 with respect to the related series of Securities. Except in the case of a Security in global form, at the option of the Company, interest on any series of Securities may be paid (i) by check mailed to the address of the Person entitled thereto as it shall appear on the Security Register of such series or (ii) by wire transfer in immediately available funds at such place and to such account as designated in writing by the Person entitled thereto as specified in the Security Register of such series. 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. Unless otherwise provided as contemplated by Section 301 with respect to any series of Securities, any interest on any Security of any series 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 by virtue of having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause clause (1) or (2) below:
(1) The Corporation may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation of such Special Record Date and, in the name and at the expense of the Corporation, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given to each Holder of Securities of such series in the manner set forth in Section 106, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2).
(2) The Corporation 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, if any, on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation to the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 1 contract
Samples: General Mortgage Indenture (Centerpoint Energy Houston Electric LLC)
Payment of Interest; Interest Rights Preserved. 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any interest on any Security 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 having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause (1) or (2) below:
(1) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and and, at the same time time, the Corporation 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 Interest, or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment. Such money, such money when deposited to deposited, will be held in trust 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 Interest, which date shall be not more than 15 fifteen (15) days and not less than 10 ten (10) days prior to the date of the proposed payment payment, and not less than 10 ten (10) days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given to each Holder of Securities of such series in the manner set forth in Section 106, not less than 10 ten (10) days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2).
(2) The Corporation 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, if any, on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of of, or in exchange for for, or in lieu of of, any other Security Security, shall carry the same rights to interest accrued and unpaid, and to accrue, which were carried by such other Security. Subject to the provisions of Section 1402, in the case of any Security (or any part thereof) which is converted after any Regular Record Date and on or prior to the next succeeding Interest Payment Date (other than any Security the principal of (or premium, if any, on) which shall become due and payable, whether at Stated Maturity or by declaration of acceleration 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 any 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 or in Section 1402, in the case of any Security (or any part thereof) which is converted, interest whose Stated Maturity is after the date of conversion of such Security (or such part thereof) shall not be payable.
Appears in 1 contract
Payment of Interest; Interest Rights Preserved. 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any interest on any Security 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 having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause (1) or (2) below:
(1) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given to each Holder of Securities of such series in the manner set forth in Section 106, not less than 10 days 28 prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2).
(2) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry 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. Except as Unless otherwise provided specified as contemplated by Section 301 with respect to the Securities of any series of Securitiesseries, 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Subject to Section 301 with respect to any series of Securities311, any interest on any Security 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 related Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause clause (1a) or (2b) below:
(1a) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a date (herein called a "Special Record Date Date") for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment Payment of such Defaulted Interest interest which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall promptly cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of such series series; at the address of such Holder as it appears in the manner set forth in Section 106Security Register, not less than then 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2)Date.
(2b) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection and Section 305, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Securitysecurity.
Appears in 1 contract
Payment of Interest; Interest Rights Preserved. Except as Unless otherwise provided specified as contemplated by Section 301 with respect to the Securities of any series of Securitiesseries, or any Tranche thereof, 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any Any interest on any Security 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 related Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause clause (1a) or (2b) below:
(1a) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a date (herein called a “Special Record Date Date”) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 fifteen (15) days and not less than 10 ten (10) days prior to the date of the proposed payment and not less than 10 ten (10) days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall promptly cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of such series at the address of such Holder as it appears in the manner set forth in Section 106Security Register, not less than 10 ten (10) days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2)Date.
(2b) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection and Section 305, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 1 contract
Samples: Indenture (Florida Power & Light Co)
Payment of Interest; Interest Rights Preserved. Except as Unless otherwise provided specified as contemplated by Section 301 with respect to the Securities of any series of Securitiesseries, or any Tranche thereof, 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any Any interest on any Security 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 related Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each caseelection, as provided in Clause clause (1a) or (2b) below:
(1a) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a date (a "Special Record Date Date") for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation of such Special Record Date and, in the name and at the expense of the Corporation, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given to each Holder of Securities of such series in the manner set forth in Section 106, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2).
(2) The Corporation 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, if any, on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation to the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.less
Appears in 1 contract
Samples: Indenture (For Unsecured Debt Securities) (Oncor Electric Delivery Co)
Payment of Interest; Interest Rights Preserved. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest 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 that Security such Note (or one or more Predecessor SecuritiesNotes) is registered at the close of business on the Regular Record Date for such interest at the office or agency of the Company maintained for such purpose pursuant to Section 1002; provided, however, that each installment of interest may at the Company’s option be paid by mailing a check for such interest. Except , payable to or upon the written order of the Person entitled thereto pursuant to Section 308, to the address of such Person as otherwise it appears in the Note Register, provided as contemplated by Section 301 that all payments of principal, premium, if any, and interest with respect to any series Notes represented by one or more permanent global Notes registered in the name of Securities, any or held by the Depositary or its nominee will be made by wire transfer of immediately available funds to the accounts specified by the Holders thereof. Any interest on any Security of any series Note 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 having been such Holder, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate borne by the Notes (such defaulted interest and interest thereon herein collectively called “Defaulted Interest may Interest”) shall be paid by the CorporationCompany, at its election in each case, as provided in Clause clause (1) or (2) below:
(1) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series Notes (or their respective Predecessor SecuritiesNotes) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series Note and the date (not less than 30 days after such notice) of the proposed paymentpayment (the “Special Record Date”), and at the same time the Corporation 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 days and not less than 10 days prior to the date of the proposed payment Special Record Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date andDate, and in the name and at the expense of the CorporationCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given to each Holder of Securities of such series in the manner set forth provided for in Section 106, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailedgiven, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such series Notes (or their respective Predecessor SecuritiesNotes) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following Clause clause (2).
(2) The Corporation 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, if any, exchange on which such Securities the Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other SecurityNote.
Appears in 1 contract
Samples: Indenture (Accuride Corp)
Payment of Interest; Interest Rights Preserved. Except as Unless otherwise provided specified as contemplated by Section 301 with respect to the Securities of any series of Securitiesseries, 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Subject to Section 301 with respect to any series of Securities311, any interest on any Security 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 related Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause clause (1a) or (2b) below:
(1a) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a date (herein called a "Special Record Date Date") for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment Payment of such Defaulted Interest interest which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall promptly cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of such series series, at the address of such Holder as it appears in the manner set forth in Section 106Security Register, not less than then 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2)Date.
(2b) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection and Section 305, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Securitysecurity.
Appears in 1 contract
Payment of Interest; Interest Rights Preserved. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest 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 that Security such Note (or one or more Predecessor SecuritiesNotes) is registered at the close of business on the Regular Record Date for such interest at the office or agency of the Company maintained for such purpose pursuant to Section 1002; provided, however, that each installment of interest may at the Company's option be paid by (i) mailing a check for such interest. Except , payable to or upon the written order of the Person entitled thereto pursuant to Section 312, to the address of such Person as otherwise it appears in the Note Register, provided as contemplated by Section 301 that all payments of principal, premium, if any, and interest with respect to any series Notes represented by one or more permanent global Notes registered in the name of Securities, any or held by the Depositary or its nominee will be made by wire transfer of immediately available funds to the accounts specified by the Holders thereof. Any interest on any Security of any series Note 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 having been such Holder, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate borne by the Notes (such defaulted interest and interest thereon herein collectively called "Defaulted Interest may Interest") shall be paid by the CorporationCompany, at its election in each case, as provided in Clause clause (1) or (2) below:
(1) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series Notes (or their respective Predecessor SecuritiesNotes) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series Note and the date (not less than 30 days after such notice) of the proposed paymentpayment (the "Special Record Date"), and at the same time the Corporation 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 days and not less than 10 days prior to the date of the proposed payment Special Record Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date andDate, and in the name and at the expense of the CorporationCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given to each Holder of Securities of such series in the manner set forth provided for in Section 106, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailedgiven, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such series Notes (or their respective Predecessor SecuritiesNotes) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following Clause clause (2).
(2) The Corporation 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, if any, exchange on which such Securities the Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other SecurityNote.
Appears in 1 contract
Payment of Interest; Interest Rights Preserved. Except as otherwise provided as contemplated by Section 301 with respect Subject to any series of SecuritiesClause 11.6, 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 that Security such Note (or one or more Predecessor Securitiesany predecessor Note) is registered at the close of business on the Regular Record Date for such interestinterest payment, which shall be the fifteenth calendar day immediately preceding such Interest Payment Date. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any Any interest on any Security of any series Note 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 having been Date, and, except as hereinafter provided, such HolderDefaulted Interest, and any interest payable on such Defaulted Interest may Interest, shall be paid by the CorporationIssuer, at its election in each caseelection, as provided in Clause (1) 2.10.1 or (2) 2.10.2 below:
(1) 2.10.1 The Corporation Issuer may elect to make payment of any Defaulted Interest Interest, and to the extent permitted by law, any interest payable on such Defaulted Interest, to the Persons in whose names the Securities of such series (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, which shall be fixed in the following manner. The Corporation Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series the Notes and the date of the proposed payment, and at the same time the Corporation 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 provided in this Clause provided2.10.1. 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 Corporation Issuer of such Special Record Date and, in the name and at the expense of the CorporationIssuer, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given sent, first-class mail, postage prepaid, to each Holder of Securities of at such series Holder's address as it appears in the manner set forth in Section 106Security 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 so mailedmailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such series (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 (2).2.10.2; or
(2) 2.10.2 The Corporation Issuer may make payment of any Defaulted Interest Interest, and any interest payable on such Defaulted Interest, on the Securities of any series Notes in any other lawful manner not inconsistent with the requirements of any securities exchange, if any, exchange on which such Securities the Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Issuer to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionClause 2.10, each Security Note delivered under this Indenture upon registration of transfer of of, or in exchange for for, or in lieu of of, any other Security Note, shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other SecurityNote.
Appears in 1 contract
Samples: Indenture (Mobile Telesystems Ojsc)
Payment of Interest; Interest Rights Preserved. 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any interest on any Security 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 having been such Holder, and such Defaulted Interest may be paid by the Corporation, at its election in each case, as provided in Clause (1) or (2) below:
(1) The Corporation may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation of such Special Record Date and, in the name and at the expense of the Corporation, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given to each Holder of Securities of such series in the manner set forth in Section 106, 33 not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2).
(2) The Corporation 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, if any, on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation to the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 1 contract
Samples: Indenture (Mercury General Corp)
Payment of Interest; Interest Rights Preserved. 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any interest on any Security 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 having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause (1) or (2) below:
(1) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given to each Holder of Securities of such series in the manner set forth in Section 106, not less than 10 days 29 prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2).
(2) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry 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. Except as Unless otherwise provided as contemplated by Section 301 with respect to the Securities of any series of Securitiesseries, or any Tranche thereof, 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any Any interest on any Security 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 related Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause clause (1a) or (2b) below:
(1a) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a date (a "Special Record Date Date") for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall promptly cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of such series at the address of such Holder as it appears in the manner set forth in Section 106Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2)Date.
(2b) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection and Section 305, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 1 contract
Samples: Indenture (PPL Energy Supply LLC)
Payment of Interest; Interest Rights Preserved. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest Interest on any Security 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with interest in respect to any series of the Securities, any except that, interest payable on the Stated Maturity of the principal of a Security shall be paid to the Person to whom principal is paid. Any interest on any Security of any series which is payable, but is not punctually timely paid or duly provided for, on any Interest Payment Date for the Securities (herein called "Defaulted Interest") ), shall forthwith cease to be payable to the registered Holder on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Corporation, at its election in each case, as provided in Clause (1) or (2) below:
(1) The Corporation may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities in respect of such series which interest is in default (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation of such Special Record Date and, in the name and at the expense of the Corporation, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first class, postage prepaid, to each Holder of Securities a Security at the address of such series Holder as it appears in the manner set forth in Section 106, Securities Register not less than 10 days prior to such Special Record Date. The Trustee may, in its discretion, in the name and at the expense of the Corporation, cause a similar notice to be published at least once in a newspaper, customarily published in the English language on each Business Day and of general circulation 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 so mailedmailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2).
(2) The Corporation 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, if any, exchange on which such the Securities in respect of which interest is in default may be listedlisted and, and upon such notice as may be required by such exchangeexchange (or by the Trustee if the Securities are not listed), if, after notice given by the Corporation to the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. Any interest on any Security which is deferred or extended pursuant to Section 3.12 shall not be Defaulted Interest for the purposes of this Section 3.8. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 1 contract
Samples: Junior Subordinated Indenture (Riggs National Corp)
Payment of Interest; Interest Rights Preserved. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any Any interest (including Special Interest) on any Security 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 (a) bear interest at the rate per annum stated in the form of Security included herein (to the extent that the payment of such interest shall be legally enforceable), and (b) forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause (1) or (2) below:
(1) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 days and not less than 10 days prior to the date of the proposed pro posed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of such series at his address as it appears in the manner set forth in Section 106Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2).
(2) The Corporation 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, if any, exchange on which such the Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry 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. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest Interest and Additional 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as interest payment except that, unless otherwise provided as contemplated by Section 301 with respect to any series of in the Securities, interest and any Additional Interest payable on the Stated Maturity of the principal of a Security shall be paid to the Person to whom principal is paid. Any interest on any Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called "Defaulted InterestDEFAULTED INTEREST") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause clause (1) or (2) below:
(1) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of such series at his address as it appears in the manner set forth in Section 106Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2).
(2) The Corporation 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, if any, exchange on which such the Securities may be listed, and and, if so listed, upon such notice as may be required by such exchange, (or by the Trustee if the Securities are not listed) if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrueaccrue (including in each such case Additional Interest), which were carried by such other Security.
Appears in 1 contract
Payment of Interest; Interest Rights Preserved. Except as otherwise provided as contemplated by The Indenture is hereby amended, subject to Section 301 201 hereof and with respect to the 2020 Debentures only, by inserting the following paragraph before the final paragraph in Section 307: If the Company exercises its option pursuant to Section 1801, then in the case of any series of Securities2020 Debenture or portion thereof which is surrendered for conversion after the Regular Record Date immediately preceding any Interest Payment Date and on or prior to such next succeeding Interest Payment Date (unless such 2020 Debenture or portion thereof which is being surrendered for conversion has been called for redemption on a Redemption Date within such period), interest whose Stated Maturity is on any Security which is payablesuch Interest Payment Date shall be payable on such Interest Payment Date notwithstanding such conversion, and is such interest (whether or not punctually paid or duly provided for, on any Interest Payment Date ) shall be paid to the Person in whose name that Security 2020 Debenture (or one or more Predecessor Securities) is registered at the close of business on the such Regular Record Date Date; provided, however, that such payment of interest shall be subject to the payment to the Company by the Holder of such 2020 Debenture or portion thereof surrendered for conversion (such payment to accompany such surrender) of an amount equal to the amount of such interest, in accordance with the fifth paragraph of Section 1502. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securitiesin the immediately preceding sentence, any interest on any Security in the case of any series 2020 Debenture which is payableconverted, but interest whose Stated Maturity 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 having been such Holder, and such Defaulted Interest may be paid by the Corporation, at its election in each case, as provided in Clause (1) or (2) below:
(1) The Corporation may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and after the date of the proposed payment, and at the same time the Corporation shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect conversion of such Defaulted Interest or 2020 Debenture shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to not 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation of such Special Record Date and, in the name and at the expense of the Corporation, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given to each Holder of Securities of such series in the manner set forth in Section 106, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2)payable.
(2) The Corporation 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, if any, on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation to the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 1 contract
Samples: Second Supplemental Indenture (Weatherford International Inc /New/)
Payment of Interest; Interest Rights Preserved. Except as (a) Unless otherwise provided as contemplated by Section 301 3.01 with respect to the Bonds of any series of Securitiesseries, or any Tranche thereof, interest on any Security Bond 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 that Security Xxxx (or one or more Predecessor SecuritiesBonds) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any .
(b) Any interest on any Security Bond 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 related Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause clause (1i) or (2ii) below:.
(1i) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities Bonds of such series (or their respective Predecessor SecuritiesBonds) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security Bond of such series and the date of the proposed payment, and at the same time the Corporation 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 provided in this Clause providedclause (i). Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 fifteen (15) days and not less than 10 ten (10) days prior to the date of the proposed payment and not less than 10 ten (10) days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall promptly cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities Bonds of such series at the address of such Holder as it appears in the manner set forth in Section 106Bond Register, not less than 10 ten (10) days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities Bonds of such series (or their respective Predecessor SecuritiesBonds) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following Clause clause (2ii).
(2ii) The Corporation Company may make payment of any Defaulted Interest on the Securities Bonds of any series in any other lawful manner not inconsistent with the requirements of any securities exchange, if any, exchange on which such Securities Bonds may be listed, and upon such notice as may be required by such exchange, if, after notice is given by the Corporation 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 of this SectionSection and Section 3.05, each Security Bond delivered under this Indenture upon registration of of, transfer of of, or in exchange for for, or in lieu of of, any other Security Bond shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other SecurityBond.
(d) Except as may otherwise be provided in this Section 3.07 or as contemplated in Section 3.01 with respect to any Bonds of a series, the Person to whom interest shall be payable on any Bond that first becomes payable on a day that is not an Interest Payment Date shall be the Holder of such Bond on the day such interest is paid.
Appears in 1 contract
Samples: Open End Mortgage, General Mortgage Indenture and Deed of Trust (Vistra Corp.)
Payment of Interest; Interest Rights Preserved. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Security which that is payable, and is punctually paid or duly provided for, on any Interest Payment Date 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 the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any Any interest on any Security of any series which 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 having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany 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 (1) or (2) below:
(1) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 fifteen (15) calendar days and not less than 10 ten (10) calendar days prior to the date of the proposed payment and not less than 10 ten (10) calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given to each Holder of Securities of such series in the manner set forth in Section 106, not less than 10 ten (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 so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2).
(2) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which that were carried by such other Security.
Appears in 1 contract
Samples: Indenture (Allied Capital Corp)
Payment of Interest; Interest Rights Preserved. Except as Unless otherwise provided specified as contemplated by Section 301 with respect to the Notes of any series of Securitiesseries, or any Tranche thereof, 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 that Security Note (or one or more Predecessor SecuritiesNotes) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any Any interest on any Security Note 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 related Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause clause (1a) or (2b) below:
(1a) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities Notes of such series (or their respective Predecessor SecuritiesNotes) are registered at the close of business on a date (herein called a "Special Record Date Date") for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security Note of such series and the date of the proposed payment, and at the same time the Corporation 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall promptly cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities Notes of such series at the address of such Holder as it appears in the manner set forth in Section 106Note Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities Notes of such series (or their respective Predecessor SecuritiesNotes) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following Clause (2)Date.
(2b) The Corporation Company may make payment of any Defaulted Interest on the Securities Notes of any series in any other lawful manner not inconsistent with the requirements of any securities exchange, if any, Notes exchange on which such Securities Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection and Section 305, each Security Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other SecurityNote.
Appears in 1 contract
Samples: Indenture (For Senior Notes) (Carolina Power & Light Co)
Payment of Interest; Interest Rights Preserved. Except as Unless otherwise provided specified as contemplated by Section 301 3.01 with respect to the Securities of any series of Securitiesseries, or any Tranche thereof, 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Subject to Section 301 with respect to any series of Securities3.12, any interest on any Security 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 related Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause clause (1a) or (2b) below:
(1a) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a date (a “Special Record Date Date”) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 provided in this Clause providedclause (a). Thereupon Thereupon, the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest Interest, which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall promptly cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of such series at the address of such Holder as it appears in the manner set forth in Section 106Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2)Date.
(2b) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clauseclause (b), such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection and Section 3.05, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrueaccrue in the future, which were carried by such other Security.
Appears in 1 contract
Samples: Indenture (United Natural Foods Inc)
Payment of Interest; Interest Rights Preserved. Except as Unless otherwise provided specified as contemplated by Section 301 with respect to the Securities of any series of Securitiesseries, or any Tranche thereof, 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by [Subject to Section 301 with respect to any series of Securities, 312]7 any interest on any Security 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 related Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause clause (1a) or (2b) below:
(1a) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a date (herein called a "Special Record Date Date") for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Corporation 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall promptly cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given mailed, first-class postage prepaid, to each Holder of Securities of such series at the address of such Holder as it appears in the manner set forth in Section 106Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed -------- 7 Bracketed language will be inserted in the Indenture under which SKIS or other subordinated Securities will be issued. payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2)Date.
(2b) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection and Section 305, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 1 contract
Samples: Indenture for Unsecured Subordinated Debt Securities (Union Electric Co)
Payment of Interest; Interest Rights Preserved. Except as Unless otherwise provided as contemplated by Section 301 with respect to any series of SecuritiesSecurities pursuant to Section 3.1, 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 that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, any Any interest on any Security 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 its having been such Holder; and, and except as hereinafter provided, such Defaulted Interest may be paid by the CorporationCompany, at its election in each case, as provided in Clause clause (1a) or clause (2b) below:
(1a) The Corporation Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Corporation Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security of such series and the date of the proposed payment, and at the same time the Corporation 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 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Corporation Company of such Special Record Date and, in the name and at the expense of the CorporationCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given to each Holder of Securities Securityholder of such series in the manner set forth in Section 1061.6, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such 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 (2b).
(2b) The Corporation 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, if any, exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Corporation Company to the Trustee of the proposed payment pursuant to this Clauseclause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 1 contract