Common use of Payment of Interest; Interest Rights Preserved Clause in Contracts

Payment of Interest; Interest Rights Preserved. Interest on any 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 Note (or one or more Predecessor Notes) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the Regular Record Date; and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection (a) or (b) below: (a) The Company may elect to make payment of any Defaulted Interest to the persons in whose names the Notes (or their respective Predecessor 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons entitled to such Defaulted Interest as provided in this subsection (a). 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 Company in writing of such Special Record Date. In the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder at its address as it appears in the Note 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 Notes (or their respective Predecessor Notes) are registered on such Special Record Date and shall no longer be payable pursuant to the following subsection (b). (b) The Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b), such payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Note.

Appears in 5 contracts

Samples: Indenture (Saks Inc), Indenture (Wam Net Inc), Indenture (Saks Inc)

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Payment of Interest; Interest Rights Preserved. Interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted InterestDEFAULTED INTEREST") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CompanyIssuers, at its their election in each case, as provided in subsection Clause (a1) or (b2) below: (a1) The Company Issuers may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company Issuers shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed paymentpayment (which shall be not less than 25 days after the receipt by the Trustee of such notice, unless such Trustee shall consent to an earlier date), and at the same time the Company Issuers shall deposit with the Trustee an amount of money in Applicable Currency equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements reasonably satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing Issuers of such Special Record Date. In Date and, in the name and at the reasonable expense of the CompanyIssuers, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities of such series at its his address as it appears in the Note Security 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b2) The Company 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 on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company Issuers to the Trustee of the proposed payment pursuant to this subsection Clause (b2), such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 5 contracts

Samples: Subordinated Debt Indenture (Meristar Hospitality Corp), Subordinated Debt Indenture (Meristar Hospitality Operating Partnership Lp), Senior Debt Indenture (Meristar Hospitality Operating Partnership Lp)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CompanyPartnership, at its election in each case, as provided in subsection Clause (a1) or (b2) below: (a1) The Company Partnership may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company Partnership shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company Partnership 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 Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing Partnership of such Special Record Date. In Date and, in the name and at the expense of the CompanyPartnership, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities of such series at its his address as it appears in the Note Security 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b2) The Company Partnership 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 or automated quotation system on which the Notes such Securities may be listedlisted or traded, and upon such notice as may be required by such exchange, if, after written notice given by the Company Partnership to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection and Section 305, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security, shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity. For each series of Securities, the Partnership shall, prior to 11:00 a.m. (New York City time) on each payment date for principal and premium, if any, and interest, if any, deposit with the Trustee money in immediately available funds sufficient to make cash payments due on the applicable payment date.

Appears in 5 contracts

Samples: Indenture (Kinder Morgan Energy Partners L P), Subordinated Indenture (Heritage Propane Partners L P), Indenture (Star Gas Partners Lp)

Payment of Interest; Interest Rights Preserved. Interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted InterestDEFAULTED INTEREST") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CompanyIssuer, at its election in each case, as provided in subsection Clause (a1) or (b2) below: (a1) The Company Issuer may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed paymentpayment (which shall be not less than 25 days after the receipt by the Trustee of such notice, unless such Trustee shall consent to an earlier date), and at the same time the Company Issuer shall deposit with the Trustee an amount of money in Applicable Currency equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements reasonably satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing Issuer of such Special Record Date. In Date and, in the name and at the reasonable expense of the CompanyIssuer, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities of such series at its his address as it appears in the Note Security 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b2) The Company Issuer may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company Issuer to the Trustee of the proposed payment pursuant to this subsection Clause (b2), such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 4 contracts

Samples: Senior Debt Indenture (Cnooc LTD), Subordinated Debt Indenture (Nexen Inc), Subordinated Debt Indenture (Nexen Inc)

Payment of Interest; Interest Rights Preserved. Interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CompanyIssuers or the Guarantor, at their or its election in each case, as provided in subsection clause (a1) or (b2) below: (a1) The Company Issuers or the Guarantor may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company Issuers or the Guarantor shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company Issuers or the 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 Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing Issuers and the Guarantor of such Special Record Date. In Date and, in the name and at the expense of the CompanyIssuers or the Guarantor, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities of such series at its his address as it appears in the Note Security 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection clause (b2). (b2) The Company Issuers 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 on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company Issuers or the Guarantor to the Trustee of the proposed payment pursuant to this subsection (b)clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note Security lawfully delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 4 contracts

Samples: Indenture (Mediacom Capital Corp), Indenture (Mediacom Capital Corp), Indenture (Mediacom Capital Corp)

Payment of Interest; Interest Rights Preserved. Interest on any 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 Note (or one or more Predecessor Notes) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the Regular Record Date; and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection (a) or (b) below: (a) The Company may elect to make payment of any Defaulted Interest to the persons in whose names the Notes (or their respective Predecessor 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit 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 subsection (a). 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 Company in writing of such Special Record Date. In the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder at its address as it appears in the Note 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 Notes (or their respective Predecessor Notes) are registered on such Special Record Date and shall no longer be payable pursuant to the following subsection (b). (b) The Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b), such payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Note.

Appears in 4 contracts

Samples: Indenture (RCN Corp /De/), Indenture (RCN Corp /De/), Indenture (RCN Corp /De/)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by Section 3.1 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)clause provided. 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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, given to each Holder at its address as it appears of Securities of such series in the Note Registermanner set forth in Section 1.6, 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection clause (b2). (b2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity. Subject to the provisions of Section 14.2, 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 or otherwise 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 14.2, 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 3 contracts

Samples: Indenture (Cell Genesys Inc), Indenture (Cell Genesys Inc), Indenture (Northfield Laboratories Inc /De/)

Payment of Interest; Interest Rights Preserved. Interest on any Note 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 Note (or one or more Predecessor Notes) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the Regular Record Date; and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection (a) or (b) below: (a) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes (or their respective Predecessor 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a). 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 Company in writing of such Special Record Date. In the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder at its address as it appears in the Note 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 Persons in whose names the Notes (or their respective Predecessor Notes) are registered on such Special Record Date and shall no longer be payable pursuant to the following subsection (b). (b) The Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange or market on which the Notes may be listed, and upon such notice as may be required by such exchangeexchange or market, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b), such payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Note.

Appears in 3 contracts

Samples: Indenture (Rhythms Net Connections Inc), Indenture (Rhythms Net Connections Inc), Indenture (Rhythms Net Connections Inc)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CompanyPartnership, at its election in each case, as provided in subsection clause (a1) or (b2) below: (a1) The Company Partnership may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company Partnership shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company Partnership 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 Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing Partnership of such Special Record Date. In Date and, in the name and at the expense of the CompanyPartnership, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities of such series at its his address as it appears in the Note Security 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection clause (b2). (b2) The Company Partnership 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 or automated quotation system on which the Notes such Securities may be listedlisted or traded, and upon such notice as may be required by such exchange, if, after written notice given by the Company Partnership to the Trustee of the proposed payment pursuant to this subsection (b)clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection 307 and Section 305, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security, shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 3 contracts

Samples: Indenture (Valero L P), Indenture (Valero Logistics Operations Lp), Indenture (Valero Logistics Operations Lp)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CompanyPartnership, at its election in each case, as provided in subsection Clause (a1) or (b2) below: (a1) The Company Partnership may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company Partnership shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company Partnership 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 Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing Partnership of such Special Record Date. In Date and, in the name and at the expense of the CompanyPartnership, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities of such series at its his address as it appears in the Note Security 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b2) The Company Partnership 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 or automated quotation system on which the Notes such Securities may be listedlisted or traded, and upon such notice as may be required by such exchange, if, after written notice given by the Company Partnership to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection and Section 305, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security, shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity. For each series of Securities, the Partnership shall, prior to 10:30 a.m. (New York City time) on each payment date for principal and premium, if any, and interest, if any, deposit with the Trustee money in immediately available funds sufficient to make cash payments due on the applicable payment date.

Appears in 3 contracts

Samples: Indenture (Kinder Morgan Bulk Terminals Inc), Indenture (Kinder Morgan Energy Partners L P), Indenture (Kinder Morgan Energy Partners L P)

Payment of Interest; Interest Rights Preserved. Interest Unless otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered in the Security Register at the close of business on the Regular Record Date for such interestInterest Payment Date. Any interest on any Note Security of any series which is payable, payable but is not punctually paid or duly provided for, for on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 5 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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities of such series at its such Holder's address as it appears in the Note Security Register, not less than 10 15 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection clause (b2). (b2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of of, or in exchange for for, or in lieu of of, any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 3 contracts

Samples: Indenture (United Healthcare Corp), Indenture (Benchmark Electronics Inc), Indenture (Uhc Capital I)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at (the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest payable on Securities of a series to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, given to each Holder at its address as it appears of Securities of such series in the Note Registermanner 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection clause (b2). (b2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection 307, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity. 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 made available for payment) 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 3 contracts

Samples: Indenture (BrightView Holdings, Inc.), Indenture (BrightView Holdings, Inc.), Indenture (KKR Real Estate Finance Trust Inc.)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise specified with respect to a series of Securities in accordance with the provisions of Section 301, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the registered Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection Clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest to the persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities of such series at its his address as it appears in the Note Security Register, not less than 10 l0 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 Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 3 contracts

Samples: Indenture (PHH Corp), Indenture (PHH Corp), Indenture (PHH Corp)

Payment of Interest; Interest Rights Preserved. Interest on any Note 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 Note (or one or more Predecessor Notes) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the Regular Record Date; and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection (a) or (b) below: (a) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes (or their respective Predecessor 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a). 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 Company in writing of such Special Record Date. In the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder at its address as it appears in the Note 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 Persons in whose names the Notes (or their respective Predecessor Notes) are registered on such Special Record Date and shall no longer be payable pursuant to the following subsection (b). (b) The Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b), such payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Note.

Appears in 3 contracts

Samples: Indenture (Pentacon Industrial Group Inc), Indenture (Gillette Dairy of the Black Hills Inc), Indenture (Best Built Inc)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by Section 3.01 with respect to any series of the Securities, interest on any Note 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 Note Security (or one or more Predecessor Notespredecessor securities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CompanyIssuers, at its their election in each case, as provided in subsection Clause (a1) or (b2) below: (a1) The Company Issuers may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor Notespredecessor 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 Company Issuers shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company Issuers shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing Issuers of such Special Record Date. In Date and, in the name and at the expense of the CompanyIssuers, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of the Securities of such series at its his address as it appears in the Note Security 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor Notespredecessor securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b2) The Company 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 on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company Issuers to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection 3.07, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 3 contracts

Samples: Indenture (Amerigas Partners Lp), Indenture (Amerigas Finance Corp), Indenture (Amerigas Partners Lp)

Payment of Interest; Interest Rights Preserved. Interest (a) Unless otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. . (b) Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection Clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities of such series at its such Holder's address as it appears in the Note Security 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. . (c) Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 3 contracts

Samples: Indenture (Ormat Technologies, Inc.), Indenture (Ormat Technologies, Inc.), Indenture (Ipc Holdings LTD)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CompanyPartnership, at its election in each case, as provided in subsection Clause (a1) or (b2) below: (a1) The Company Partnership may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company Partnership shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company Partnership 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 Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing Partnership of such Special Record Date. In Date and, in the name and at the expense of the CompanyPartnership, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities of such series at its his address as it appears in the Note Security 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b2) The Company Partnership 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 or automated quotation system on which the Notes such Securities may be listedlisted or traded, and upon such notice as may be required by such exchange, if, after written notice given by the Company Partnership to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection and Section 305, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security, shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity. For each series of Securities, the Partnership shall, prior to 10:30 a.m. (New York City time) on each payment date for principal and premium, if any, and interest, if any, deposit with the Trustee money in immediately available funds sufficient to make cash payments due on the applicable payment date.

Appears in 2 contracts

Samples: Indenture (El Paso Pipeline Partners Operating Company, L.L.C.), Indenture (El Paso Pipeline Partners Operating Company, L.L.C.)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by Section 3.1 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CompanyIssuer, at its election in each case, as provided in subsection Clause (a1) or (b2) below: (a1) The Company Issuer may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing Issuer of such Special Record Date. In Date and, in the name and at the expense of the CompanyIssuer, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder at its his address as it appears in the Note Security 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b2) The Company Issuer may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company Issuer to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 2 contracts

Samples: Indenture (Regency Centers Lp), Indenture (Regency Centers Lp)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at (the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest payable on Securities of a series to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, given to each Holder at its address as it appears of Securities of such series in the Note Registermanner 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection clause (b2). (b2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)clause, such manner of payment shall be deemed practicable by the Trustee. Notwithstanding the foregoing, any interest which is paid prior to the expiration of the 30-day period set forth in Section 5.01(1) shall be paid to Holders as of the record date for the Interest Payment Date for which interest has not been paid. Subject to the foregoing provisions of this SectionSection 307, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity. 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 made available for payment) 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: Indenture (Lument Finance Trust, Inc.), Indenture (Lument Finance Trust, Inc.)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CompanyPartnership, at its election in each case, as provided in subsection clause (a1) or (b2) below: (a1) The Company Partnership may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company Partnership shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company Partnership 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 Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing Partnership of such Special Record Date. In Date and, in the name and at the expense of the CompanyPartnership, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities of such series at its his address as it appears in the Note Security 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection clause (b2). (b2) The Company Partnership 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 or automated quotation system on which the Notes such Securities may be listedlisted or traded, and upon such notice as may be required by such exchange, if, after written notice given by the Company Partnership to the Trustee of the proposed payment pursuant to this subsection (b)clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection 307 and Section 305, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security, shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 2 contracts

Samples: Indenture (NuStar Energy L.P.), Indenture (NuStar Pipeline Operating Partnership L.P.)

Payment of Interest; Interest Rights Preserved. Interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CompanyCompany or the Guarantor, at its election in each case, as provided in subsection clause (a1) or (b2) below: (a1) The Company or the Guarantor may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company or the Guarantor shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company or the 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 Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing and the Guarantor of such Special Record Date. In Date and, in the name and at the expense of the CompanyCompany or the Guarantor, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities of such series at its his address as it appears in the Note Security 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection clause (b2). (b2) The Company 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 on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company or the Guarantor to the Trustee of the proposed payment pursuant to this subsection (b)clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Sectionsection, each Note Security lawfully delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 2 contracts

Samples: Indenture (Xl Capital LTD), Indenture (Xl Capital LTD)

Payment of Interest; Interest Rights Preserved. Interest on any 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 Note (or one or more Predecessor Notes) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the Regular Record Date; and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection (a) or (b) below: (a) The Company may elect to make payment of any Defaulted Interest to the persons in whose names the Notes (or their respective Predecessor 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons entitled to such Defaulted Interest as provided in this subsection (a). 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 Company in writing of such Special Record Date. In the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder at its address as it appears in the Note Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment pay- ment 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 Notes (or their respective Predecessor Notes) are registered on such Special Record Date and shall no longer be payable pursuant to the following subsection (b). (b) The Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b), such payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Note.

Appears in 2 contracts

Samples: Indenture (Saks Inc), Indenture (Saks Inc)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection Clause (a) or (b) below: (a) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names name the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 any notice of the proposed payment. The Trustee shall promptly notify the Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder at its address as it appears in the Note Registerof Securities of such series, 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b). (b) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 2 contracts

Samples: Indenture (DH Europe Finance II S.a.r.l.), Indenture (DH Europe Finance II S.a.r.l.)

Payment of Interest; Interest Rights Preserved. Interest Unless otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection Clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)Clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment 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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities of such series at its his address as it appears in the Note Security 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 2 contracts

Samples: Indenture (Boise Cascade Trust Iii), Indenture (Boise Cascade Trust Iii)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CompanyPartnership, at its election in each case, as provided in subsection clause (a1) or (b2) below: (a1) The Company Partnership may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company Partnership shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company Partnership 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 Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing Partnership of such Special Record Date. In Date and, in the name and at the expense of the CompanyPartnership, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities of such series at its his address as it appears in the Note Security 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection clause (b2). (b2) The Company Partnership 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 or automated quotation system on which the Notes such Securities may be listedlisted or traded, and upon such notice as may be required by such exchange, if, after written notice given by the Company Partnership to the Trustee of the proposed payment pursuant to this subsection (b)clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection and Section 305, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security, shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity. For each series of Securities, the Partnership shall, prior to 11:00 a.m. (New York City time) on each payment date for principal and premium, if any, and interest, if any, deposit with the Trustee money in immediately available funds sufficient to make cash payments due on the applicable payment date.

Appears in 2 contracts

Samples: Indenture (Alliance Resource Partners Lp), Indenture (Alliance Resource Partners Lp)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may shall be paid by the Company, at its election in each case, as provided in subsection either Clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, given to each Holder at its address as it appears of Securities of such series in the Note Registermanner 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity. Subject to the provisions of Section 1402, in case of any Security which is converted after any Regular Record Date and on or prior to the next succeeding Interest Payment Date, interest whose Stated Maturity is on such Interest Payment Date shall be payable on such Interest Payment Date notwithstanding such conversion, and such interest (whether or not punctually paid or duly provided for) shall be paid to the 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.

Appears in 2 contracts

Samples: Indenture (Healthcare Realty Trust Inc), Indenture (Capstone Capital Corp)

Payment of Interest; Interest Rights Preserved. Interest on any Note Security which is payable, and is punctually paid or duly provided for, on any Interest Payment the Final Maturity Date of such interest shall be paid to the person Person in whose name that Note (or one or more Predecessor Notes) the Security is registered at the close of business on the Regular Record Date for such interestinterest payment. Any interest on any Note Security which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date the Stated Maturity of such interest, and interest on such defaulted interest at the then applicable interest rate borne by the NotesSecurities, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") ”), shall forthwith cease to be payable to the Holder on the Regular Record Date; and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection Subsection (a) or (b) below: (a) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes (or their respective Predecessor Notes) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security and the date (not less than 20 days after such notice) of the proposed paymentpayment (the “Special Payment Date”), and at on the same time date of payment the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed paymentSpecial Payment Date, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Payment 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 Company in writing of such Special Record Date. In Unless the Company issues a press release to the same effect, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder at its address as it appears in the Note Security Register, not less than 10 days prior to such Special Record DateDate or notify in such other manner as the Trustee determines, including in accordance with any Applicable Procedures. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Payment Date therefor having been so mailedmailed or otherwise conveyed, such Defaulted Interest shall be paid to the persons Persons in whose names the Notes (or their respective Predecessor Notes) Securities are registered on such Special Record Date and shall no longer be payable pursuant to the following subsection paragraph (b). (b) The Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any national securities exchange on which the Notes Securities may be listed, and upon such notice as may be required by this Indenture not inconsistent with the requirements of such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)subsection, such payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection 2.16, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 2 contracts

Samples: Indenture (General Cable Corp /De/), Indenture (Diversified Contractors Inc)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CompanyPartnership, at its election in each case, as provided in subsection Clause (a1) or (b2) below: (a1) The Company Partnership may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company Partnership shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company Partnership 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 Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing Partnership of such Special Record Date. In Date and, in the name and at the expense of the CompanyPartnership, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities of such series at its such Holder's address as it appears in the Note Security 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b2) The Company Partnership 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 or automated quotation system on which the Notes such Securities may be listedlisted or traded, and upon such notice as may be required by such exchange, if, after written notice given by the Company Partnership to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection and Section 305, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security, shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity. For each series of Securities, the Partnership shall, prior to 11:00 a.m. (New York City time) on each payment date for principal and premium, if any, and interest, if any, deposit with the Trustee money in immediately available funds sufficient to make cash payments due on the applicable payment date.

Appears in 2 contracts

Samples: Subordinated Indenture (Inergy L P), Indenture (Inergy L P)

Payment of Interest; Interest Rights Preserved. Interest on any 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 Note (or one or more Predecessor Notes) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the Regular Record Date; and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection (a) or (b) below: (a) The Company may elect to make payment of any Defaulted Interest to the persons in whose names the Notes (or their respective Predecessor 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit 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 subsection (a). 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 Company in writing of such Special Record Date. In the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder at its address as it appears in the Note Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such 27 -24- 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 Notes (or their respective Predecessor Notes) are registered on such Special Record Date and shall no longer be payable pursuant to the following subsection (b). (b) The Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b), such payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Note.

Appears in 2 contracts

Samples: Indenture (Spincycle Inc), Indenture (Spincycle Inc)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by Section 3.01 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, given to each Holder at its address as it appears of Securities of such series in the Note Registermanner set forth in Section 1.06, 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection clause (b2). (b2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)clause, such manner of payment shall be deemed practicable by the Trustee. If the Securities of the series are convertible or exchangeable and unless otherwise specified as contemplated by Section 3.01, in the case of any Security of such series which is converted or exchanged 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 or exchange, 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 or exchanged, interest whose Stated Maturity is after the date of conversion or exchange of such Security shall not be payable. Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 2 contracts

Samples: Indenture (Marathon Financing Trust I), Indenture (Marathon Oil Corp)

Payment of Interest; Interest Rights Preserved. Interest Unless otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered in the Security Register at the close of business on the Regular Record Date for such interestInterest Payment Date. Any interest on any Note Security of any series which is payable, payable but is not punctually paid or duly provided for, for on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted InterestDEFAULTED INTEREST") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection Clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities of such series at its such Holder's address as it appears in the Note Security 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of of, or in exchange for for, or in lieu of of, any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 2 contracts

Samples: Indenture (Fingerhut Companies Inc), Indenture (Fingerhut Companies Inc)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by Section 3.01 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection Clause (a1) or (b2) below: : (a1) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, given to each Holder at its address as it appears of Securities of such series in the Note Registermanner set forth in Section 1.06, 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered on such Special Record Date and shall no longer be payable pursuant to the following subsection (b).21 (b2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 2 contracts

Samples: Indenture (Toro Co), Indenture (Toro Co)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by Section 3.01 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CompanyPartnership, at its election in each case, as provided in subsection Clause (a1) or (b2) below: (a1) The Company Partnership may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company Partnership shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company Partnership 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 Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing Partnership of such Special Record Date. In Date and, in the name and at the expense of the CompanyPartnership, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities of such series at its his address as it appears in the Note Security 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b2) The Company Partnership 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 or automated quotation system on which the Notes such Securities may be listedlisted or traded, and upon such notice as may be required by such exchange, if, after written notice given by the Company Partnership to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security, shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 2 contracts

Samples: Indenture (Buckeye Partners L P), Indenture (Buckeye Partners L P)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by Section 3.01 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CompanyIssuers, at its their election in each case, as provided in subsection Clause (a1) or (b2) below: (a1) The Company Issuers may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company Issuers shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing Issuers of such Special Record Date. In Date and, in the name and at the expense of the CompanyIssuers, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities of such series at its his address as it appears in the Note Security 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b2) The Company 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 on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company Issuers to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 2 contracts

Samples: Indenture (Amerigas Finance Corp), Indenture (Amerigas Finance Corp)

Payment of Interest; Interest Rights Preserved. (a) Interest on any Note which Security that 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 Note (or one or more Predecessor Notes) Security is registered at the close of business on the Regular Record Date for such interestinterest at the office or agency of the Company maintained for such purpose. Any Each installment of interest on any Note which Security shall be paid in same-day funds by transfer to an account maintained by the payee located inside the United States. In the case of a permanent global Security, interest payable on any Interest Payment Date will be paid to the Depositary, Euroclear and/or Clearstream, as the case may be, with respect to that portion of such permanent global Security held for its account by Cede & Co. or the London office of a depositary, as the case may be, for the purpose of permitting such party to credit the interest received by it in respect of such permanent global Security to the accounts of the beneficial owners thereof. (b) Except as otherwise specified with respect to the Securities, any interest on any Security that is payable, but is not punctually paid or duly provided for, on within 30 days following any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted InterestDEFAULTED INTEREST") shall forthwith cease to be payable to the registered Holder thereof on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at as its election in each case, as provided in subsection clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest to the persons in whose names the Notes (or their respective Predecessor Notes) Securities are registered at the close of business on a Special Record Date special record date (herein called "SPECIAL RECORD DATE") for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security and the date of the proposed paymentpayment (which shall not be less than 20 days after such notice is received by the Trustee), and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit on or prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing of such Special Record Date. In the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder at its address as it appears in the Note 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 Notes (or their respective Predecessor Notes) are registered on such Special Record Date and shall no longer be payable pursuant to the following subsection (b). (b) The Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b), such payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Note.proposed

Appears in 1 contract

Samples: Indenture (Nabors Industries Inc)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by SECTION 3.01 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted InterestDEFAULTED INTEREST") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection Clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, given to each Holder at its address as it appears of Securities of such series in the Note Registermanner set forth in SECTION 1.06, 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which that were carried by such other NoteSecurity.

Appears in 1 contract

Samples: Indenture (Cleveland Electric Illuminating Co)

Payment of Interest; Interest Rights Preserved. Interest Unless otherwise provided as contemplated by Section 3.1, interest on any Note Registered 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 Note Registered Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder of any Registered Security on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection clause (a1) or (b2) below: (a1) The the Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Registered Securities of such series (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Registered Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)Clause provided. Thereupon the Trustee Company shall fix a Special Record 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 Company Trustee, in writing of such Special Record Date. In the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Registered Securities of such series at its his address as it appears in the Note Security 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 Persons in whose names the Notes Registered Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection clause (b2).; or (b2) The the Company may make payment of any Defaulted Interest on the Registered Securities of any series in any other lawful manner not inconsistent with the requirements of any securities securities, exchange on which the Notes such Registered Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b), such payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Note.the

Appears in 1 contract

Samples: Indenture (Textron Inc)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may shall be paid by the Company, at its election in each case, as provided in subsection either Clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, given to each Holder at its address as it appears of Securities of such series in the Note Registermanner 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity. Subject to the provisions of Section 1402, in 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, provided, however, that Securities so surrendered for conversion (except Securities or portions thereof called for redemption) shall be accompanied by payment in New York Clearing House funds or other funds acceptable to the Company of an amount equal to the interest payable on such Interest Payment Date on the principal amount being surrendered for conversion. Except as otherwise expressly provided in the immediately preceding sentence, in the case of any Security which is converted, interest whose Stated Maturity is after the date of conversion of such Security shall not be payable.

Appears in 1 contract

Samples: Indenture (Capstone Capital Corp)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by Section 3.01 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its the Company's election in each case, as provided in subsection Clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor therefore to be mailed, first-class postage prepaid, given to each Holder at its address as it appears of Securities of such series in the Note Registermanner set forth in Section 1.06, 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements 57 of any securities exchange on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. At the option of the Company, interest on Registered Securities of any series that bear interest may be paid (i) by mailing a check to the address of the person entitled thereto as such address shall appear in the Security Register for (ii) by wire transfer to an account maintained by the person entitled thereto as specified in the applicable Security Register. Notwithstanding the above, except as otherwise specified with respect to a series of Securities in accordance with the provisions of Section 3.01, a Holder of $10,000,000 or more in aggregate principal amount of Securities of the same series having the same Interest Payment Date shall be entitled to receive payments of interest by wire transfer of immediately available funds if appropriate wire transfer instructions have been received by the Trustee on or before the Regular Record Date immediately preceding the applicable Interest Payment Date. Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 1 contract

Samples: Indenture (May Department Stores Co)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by Section 3.1 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection Clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and and, at the same time time, the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities of such series at its his address as it appears in the Note Security 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 1 contract

Samples: Indenture (Comerica Inc /New/)

Payment of Interest; Interest Rights Preserved. Interest on any Note Security which is payable, and is punctually paid or duly provided for, on any Interest Payment the Final Maturity Date of such interest shall be paid to the person Person in whose name that Note (or one or more Predecessor Notes) the Security is registered at the close of business on the Regular Record Date for such interestinterest payment. Any interest on any Note Security which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date the Stated Maturity of such interest, and interest on such defaulted interest at the then applicable interest rate borne by the NotesSecurities, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") ”), shall forthwith cease to be payable to the Holder on the Regular Record Date; and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection Subsection (a) or (b) below: (a) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes (or their respective Predecessor Notes) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security and the date (not less than 20 days after such notice) of the proposed paymentpayment (the “Special Payment Date”), and at on the same time date of payment the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed paymentSpecial Payment Date, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Payment 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 Company in writing of such Special Record Date. In Unless the Company issues a press release to the same effect, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder at its address as it appears in the Note Security Register, not less than 10 days prior to such Special Record DateDate or notify in such other manner as the Trustee determines, including in accordance with any Applicable Procedures. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Payment Date therefor having been so mailedmailed or otherwise conveyed, such Defaulted Interest shall be paid to the persons Persons in whose names the Notes (or their respective Predecessor Notes) Securities are registered on such Special Record Date and shall no longer be payable pursuant to the following subsection paragraph (b). (b) The Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any national securities exchange on which the Notes Securities may be listed, and upon such notice as may be required by this Indenture not inconsistent with the requirements of such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)subsection, such payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection 2.16, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity. All references to “interest” in this Indenture include, without limitation, all rights to the payment of Additional Interest, in accordance with the terms of the Registration Rights Agreement.

Appears in 1 contract

Samples: Indenture (General Cable Corp /De/)

Payment of Interest; Interest Rights Preserved. Interest Unless otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered in the Security Register at the close of business on the Regular Record Date for such interestInterest Payment Date. Any interest on any Note Security of any series which is payable, payable but is not punctually paid or duly provided for, for on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted InterestDEFAULTED INTEREST") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 5 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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities of such series at its such Holder's address as it appears in the Note Security Register, not less than 10 15 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection clause (b2). (b2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of of, or in exchange for for, or in lieu of of, any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 1 contract

Samples: Indenture (Olympic Financial LTD)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection Clause (a1) or (b2) below: (a) : The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series BN 83622998v1 and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities of such series at its his address as it appears in the Note Security 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b1) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange or automated quotation system on which the Notes such Securities may be listedlisted or traded, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection and Section 305, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security, shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity. For each series of Securities, the Company shall, prior to 10:30 a.m. ( time) on each payment date for principal and premium, if any, and interest, if any, deposit with the Trustee money in immediately available funds sufficient to make cash payments due on the applicable payment date.

Appears in 1 contract

Samples: Indenture (Community West Bancshares)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by Section 3.01 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CompanyPartnership, at its election in each case, as provided in subsection Clause (a1) or (b2) below: (a1) The Company Partnership may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company Partnership shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company Partnership 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 Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing Partnership of such Special Record Date. In Date and, in the name and at the expense of the CompanyPartnership, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities of such series at its his address as it appears in the Note Security 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b2) The Company Partnership 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 or automated quotation system on which the Notes such Securities may be listedlisted or traded, and upon such notice as may be required by such exchange, if, after written notice given by the Company Partnership to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security, shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 1 contract

Samples: Subordinated Indenture (Buckeye Partners, L.P.)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Note Security of any series which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the person Person in whose name that Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection Clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, and such money when deposited to shall be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities of such series at its his address as it appears in the Note Security 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. . (3) Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 1 contract

Samples: Indenture (Allegheny Energy Supply Co LLC)

Payment of Interest; Interest Rights Preserved. Interest on any 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 Note (or one or more Predecessor Notes) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to ------------------ the Holder on the Regular Record Date; and such Defaulted Interest may be paid by the CompanyHoldings, at its election in each case, as provided in subsection (a) or (b) below: (a) The Company Holdings may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes (or their respective Predecessor 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 Company Holdings shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Company Holdings 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 Persons entitled to such Defaulted Interest as provided in this subsection (a). 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 Company Holdings in writing of such Special Record Date. In the name and at the expense of the CompanyHoldings, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder at its address as it appears in the Note 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 Persons in whose names the Notes (or their respective Predecessor Notes) are registered on such Special Record Date and shall no longer be payable pursuant to the following subsection (b). (b) The Company Holdings may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company Holdings to the Trustee of the proposed payment pursuant to this subsection (b), such payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Note.

Appears in 1 contract

Samples: Indenture (Telemundo Holding Inc)

Payment of Interest; Interest Rights Preserved. Subject to the last paragraph of this Section, interest, including Additional Interest, and the Interest Make Whole Payment, if any, on any Note which Security that 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest interest, including Additional Interest, if any, and the Interest Make Whole Payment, if any, on any Note which Security that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection Clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities (or their respective Predecessor NotesSecurities) 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 Company shall promptly notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note and Security, the date of the proposed paymentpayment and the Special Record Date, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company Trustee, in writing of such Special Record Date. In the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder at its such Holder's address as it appears in the Note Security 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 Notes (or their respective Predecessor Notes) are registered on such Special Record Date and shall no longer be payable pursuant to the following subsection (b). (b) The Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b), such payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Note.Record

Appears in 1 contract

Samples: Indenture (Collegiate Pacific Inc)

Payment of Interest; Interest Rights Preserved. Interest Unless otherwise provided as contemplated by Section 2.3(a) with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interestinter- est. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest to the persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory satisfac- tory 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 subsection (a)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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities at its his address as it appears in the Note Security 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 Notes Securities (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b2) The Company may make payment of any Defaulted Interest on the Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable practi- cable by the Trustee. Subject to the foregoing provisions of this SectionSection and Section 2.8, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 1 contract

Samples: Indenture (Aimco Properties Lp)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the -39- 49 close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection Clause (a1) or (b2) below: (a1) The Company may elect to make payment pay ment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 paymentpay ment. The Trustee shall promptly notify the Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities of such series at its his or her address as it appears in the Note RegisterSecurity Regis ter, 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesPredeces sor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent incon sistent with the requirements of any securities securi ties exchange on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable prac ticable by the Trustee. Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 1 contract

Samples: Indenture (Popular International Bank Inc)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CompanyPartnership, at its election in each case, as provided in subsection Clause (a1) or (b2) below: (a1) The Company Partnership may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company Partnership shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company Partnership 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 Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing Partnership of such Special Record Date. In Date and, in the name and at the expense of the CompanyPartnership, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities of such series at its his address as it appears in the Note Security 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b2) The Company Partnership 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 or automated quotation system on which the Notes such Securities may be listedlisted or traded, and upon such notice as may be required by such exchange, if, after written notice given by the Company Partnership to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection and Section 305, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security, shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity. For each series of Securities, the Partnership shall, prior to 10:30 a.m. (New York City time) on each payment date for principal and premium, if any, and interest, if any, deposit with the Trustee money in immediately available funds sufficient to make cash payments due on the applicable payment date. -35- 42 SECTION 308. Persons Deemed Owners. Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, prior to due presentment of a Security for registration of transfer, the Partnership, the Trustee and any agent of the Partnership or the Trustee may treat the Person in whose name such Security is registered as the owner of such Security for the purpose of receiving payment of principal of and any premium and (subject to Sections 305 and 307) any interest on such Security and for all other purposes whatsoever, whether or not such Security is overdue, and neither the Partnership, the Trustee nor any agent of the Partnership or the Trustee shall be affected by notice to the contrary. No holder of any beneficial interest in any Global Security held on its behalf by a Depositary shall have any rights under this Indenture with respect to such Global Security, and such Depositary may be treated by the Partnership, the Trustee and any agent of the Partnership or the Trustee as the owner of such Global Security for all purposes whatsoever. None of the Partnership, the Trustee nor any agent of the Partnership or the Trustee will have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests of a Global Security or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests.

Appears in 1 contract

Samples: Indenture (Kinder Morgan Energy Partners L P)

Payment of Interest; Interest Rights Preserved. Interest Unless otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Note Registered 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Registered Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection Clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Registered Securities of such series (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities of such series at its his address as it appears in the Note Security 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b2) The Company may make payment of any Defaulted Interest on the Registered Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection and Section 305, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity, and, subject as aforesaid, each such Security shall be so dated, or have attached thereto such Coupons, that neither gain nor loss in interest shall result from such transfer, exchange or substitution.

Appears in 1 contract

Samples: Standard Multiple Series Indenture Provisions (Aristar Inc)

Payment of Interest; Interest Rights Preserved. Interest on any Note Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Pay- ment Date shall be paid to the person Person in whose name that Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest (including Additional Interest) on any Note Security which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively 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; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection Clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder at its his address as it appears in the Note Security 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 Persons in whose names the Notes Securities (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b2) The Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 1 contract

Samples: Indenture (Nextlink Communications Inc / De)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CompanyIssuers, at its their election in each case, as provided in subsection Clause (a1) or (b2) below: (a1) The Company Issuers may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company Issuers shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company Issuers shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing Issuers of such Special Record Date. In Date and, in the name and at the expense of the CompanyIssuers, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, given to each Holder at its address as it appears of Securities of such series in the Note Registermanner 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b2) The Company 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 on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company Issuers to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity. Subject to the provisions of Section 1302, 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 the principal of (or premium, if any, on)) which shall become due and payable, whether at a Stated Maturity or by declaration of acceleration, call for redemption, or otherwise, 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, in the case of any Security which is converted, interest whose Stated Maturity is after the date of conversion of such Security shall not be payable.

Appears in 1 contract

Samples: Senior Indenture (Atlas Energy Resources, LLC)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection Clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall 19 26 make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, given to each Holder at its address as it appears of Securities of such series in the Note Registermanner 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 1 contract

Samples: Indenture (Usx Corp)

Payment of Interest; Interest Rights Preserved. Interest on any Note Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid (a) in the case of a Global Security to its Holder and (b) in the case of a Definitive Registered Security to the person Person in whose name that Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest (including Special Interest) on any Note Security which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection Clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder at its his address as it appears in the Note Security 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 Persons in whose names the Notes Securities (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b2) The Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 1 contract

Samples: Indenture (Diamond Cable Communications PLC)

Payment of Interest; Interest Rights Preserved. Interest on any Convertible Note 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 such Convertible Note (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Convertible Note which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of having been such Holder, and such overdue interest and (to the extent lawful) interest on such defaulted overdue interest at the then applicable interest rate borne by the Notes, to the extent lawful Convertible Notes (such defaulted overdue interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the Regular Record Date; and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Convertible Notes (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Convertible Note and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder at its address as it appears given in the Note Registermanner provided for in Section 1.5, 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 Persons in whose names the Convertible Notes (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection clause (b2). (b2) The Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Convertible Notes may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Convertible Note delivered under this Supplemental Indenture upon registration of transfer of or in exchange for or in lieu of any other Convertible Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Convertible Note.

Appears in 1 contract

Samples: First Supplemental Indenture (Chartered Semiconductor Manufacturing LTD)

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Payment of Interest; Interest Rights Preserved. Interest Unless otherwise provided as contemplated by Section 203(a) with respect to any series of Securities, interest on any Note Registered Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the person in whose name that Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Registered Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest to the persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Registered Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Registered Securities at its his address as it appears in the Note Registerregister of the Securities, 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 Notes Securities (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b2) The Company may make payment of any Defaulted Interest on the Registered Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes such Registered Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection and Section 208, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 1 contract

Samples: Indenture (Dun & Bradstreet Corp/Nw)

Payment of Interest; Interest Rights Preserved. Interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interestDate. Any interest on any Note Security which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder at its his address as it appears in the Note Security Register, not less than 10 days prior to such Special Security 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 Persons in whose names the Notes Securities (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection clause (b2). (b2) The Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes Securities may be listed, and and, if so listed, upon such notice as may be required by such exchangeexchange (or as may be required by the Trustee if the Securities are not listed), if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrueaccrue (including, in each such case, Compounded Interest), which were carried by such other Notesecurity.

Appears in 1 contract

Samples: Indenture (Zenith National Insurance Corp)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by Section 3.1 with respect to any series of Notes, interest on any Note 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 Note (or one or more Predecessor Notes) is registered at the close of business on the Regular Record Date Date, as set forth in such Notes, for such interest. Any interest on any Note of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes of such series (or their respective Predecessor 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, given to each Holder at its address as it appears of Notes of such series in the Note Registermanner set forth in Section 1.6, 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 Persons in whose names the Notes of such series (or their respective Predecessor Notes) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection clause (b2). (b2) The Company may make payment of any Defaulted Interest on the Notes of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the such Notes may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Note.

Appears in 1 contract

Samples: Indenture (Gas Transporter of the South Inc)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection Clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 15 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities of such series at its address as it appears in the Note Security 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 1 contract

Samples: Indenture (Aetna Inc)

Payment of Interest; Interest Rights Preserved. Interest on any Note 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 Note (or one or more Predecessor Notes) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the Regular Record Date; and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection (a) or subsection (b) below: (a) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes (or their respective Predecessor 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a). 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 Company in writing of such Special Record Date. In the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder at its address as it appears in the Note 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 Persons in whose names the Notes (or their respective Predecessor Notes) are registered on such Special Record Date and shall no longer be payable pursuant to the following subsection (b). (b) The Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b), such payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Note.

Appears in 1 contract

Samples: Indenture (Saks Inc)

Payment of Interest; Interest Rights Preserved. Interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the NotesSecurities, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") ), shall forthwith cease to be payable to the Holder on the Regular Record DateDate by virtue of having been such Holder; and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection Subsection (a) or (b) below: (a) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee or the Paying Agent an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee or the Paying Agent for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing of such Special Record Date. In the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder at its address as it appears in the Note Security 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 Persons in whose names the Notes Securities (or their respective Predecessor NotesSecurities) are registered on such Special Record Date and shall no longer be payable pursuant to the following subsection Subsection (b). (b) The Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)Subsection, such payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 1 contract

Samples: Indenture (Rogers Wireless Inc)

Payment of Interest; Interest Rights Preserved. Interest Except as ---------------------------------------------- otherwise provided as contemplated by Section 3.01 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection Clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, given to each Holder at its address as it appears of Securities of such series in the Note Registermanner set forth in Section 1.06, 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 1 contract

Samples: Indenture (United Parcel Service of America Inc)

Payment of Interest; Interest Rights Preserved. Interest Unless otherwise provided as contemplated by Section 3.01, interest on any Note Registered Security which is payable, and is punctually paid or duly provided forfor no later than 1:00 p.m., on any Interest Payment Date shall be paid to the person Person in whose name that Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Registered Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Registered Securities of such series (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Registered Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Registered Securities of such Series at its his address as it appears in the Note Security 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection clause (b2). (b2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. At the option of the Company, interest on Registered Securities of any series that bear interest may be paid (i) by mailing a check to the address of the person entitled thereto as such address shall appear in the Security Register or (ii) by wire transfer to an account maintained by the person entitled thereto as specified in the applicable Security Register. Notwithstanding the above, except as otherwise specified with respect to a series of Securities in accordance with the provisions of Section 3.01, a Holder of $10,000,000 or more in aggregate principal amount of Securities of the same series having the same Interest Payment Date shall be entitled to receive payments of interest by wire transfer of immediately available funds if appropriate wire transfer instructions have been received by the Trustee on or before the Regular Record Date immediately preceding the applicable Interest Payment Date. Subject to the foregoing provisions of this Section, each Note Security or Coupon, if any, delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security or Coupon, if any, shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity or Coupon.

Appears in 1 contract

Samples: Senior Debt Indenture (Hasbro Inc)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at (the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest payable on Securities of a series to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, given to each Holder at its address as it appears of Securities of such series in the Note Registermanner 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection clause (b2). (b2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection 307, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity. 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 made available for payment) 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. Section 308. Persons Deemed Owners. Prior to due presentment of a Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name such Security is registered as the owner of such Security for the purpose of receiving payment of principal of and premium, if any, and, subject to Section 307, any interest on such Security and for all other purposes whatsoever, whether or not such Security be overdue, and neither the Company, the Trustee nor any agent of the Company or the Trustee shall be affected by notice to the contrary.

Appears in 1 contract

Samples: Indenture (Blue Owl Capital Inc.)

Payment of Interest; Interest Rights Preserved. Interest Except ----------------------------------------------- as otherwise provided as contemplated by Section 3.01 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection Clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, given to each Holder at its address as it appears of Securities of such series in the Note Registermanner set forth in Section 1.06, 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 1 contract

Samples: Indenture (United Parcel Service of America Inc)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CompanyPartnership, at its election in each case, as provided in subsection Clause (a1) or (b2) below: (a1) The Company Partnership may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company Partnership shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company Partnership 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 Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing Partnership of such Special Record Date. In Date and, in the name and at the expense of the CompanyPartnership, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities of such series at its his address as it appears in the Note Security 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b2) The Company Partnership 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 or automated quotation system on which the Notes such Securities may be listedlisted or traded, and upon such notice as may be required by such exchange, if, after written notice given by the Company Partnership to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection and Section 305, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security, shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity. For each series of Securities, the Partnership shall, prior to 10:30 a.m. (New York City time) on each payment date for principal and premium, if any, and interest, if any, deposit with the Trustee money in immediately available funds sufficient to make cash payments due on the applicable payment date. Section 308. Persons Deemed Owners Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, prior to due presentment of a Security for registration of transfer, the Partnership, the Trustee and any agent of the Partnership or the Trustee may treat the Person in whose name such Security is registered as the owner of such Security for the purpose of receiving payment of principal of and any premium and (subject to Sections 305 and 307) any interest on such Security and for all other purposes whatsoever, whether or not such Security is overdue, and neither the Partnership, the Trustee nor any agent of the Partnership or the Trustee shall be affected by notice to the contrary. No holder of any beneficial interest in any Global Security held on its behalf by a Depositary shall have any rights under this Indenture with respect to such Global Security, and such Depositary may be treated by the Partnership, the Trustee and any agent of the Partnership or the Trustee as the owner of such Global Security for all purposes whatsoever. None of the Partnership, the Trustee nor any agent of the Partnership or the Trustee will have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests of a Global Security or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests.

Appears in 1 contract

Samples: Indenture (Kinder Morgan Energy Partners L P)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at (the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection clause (a1) or (b2) below: : (a1) The Company may elect to make payment of any Defaulted Interest payable on Securities of a series to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, given to each Holder at its address as it appears of Securities of such series in the Note Registermanner 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection clause (b2). (b) The Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b), such payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Note.

Appears in 1 contract

Samples: Indenture (KKR & Co. Inc.)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CompanyCompanies, at its their election in each case, as provided in subsection clause (a1) or (b2) below: (a1) The Company Companies may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company Companies shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company Companies shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing Companies of such Special Record Date. In Date and, in the name and at the expense of the CompanyCompanies, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, given to each Holder at its address as it appears of Securities of such series in the Note Registermanner 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection clause (b2). (b2) The Company Companies may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company Companies to the Trustee of the proposed payment pursuant to this subsection (b)clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 1 contract

Samples: Indenture (Anheuser-Busch InBev SA/NV)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by SECTION 3.01 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection Clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, given to each Holder at its address as it appears of Securities of such series in the Note Registermanner set forth in SECTION 1.06, 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 1 contract

Samples: Indenture (Amerada Hess Corp)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by Section 3.01 with respect to any series of the Securities, interest on any Note 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 Note Security (or one or more Predecessor Notespredecessor securities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CompanyIssuers, at its their election in each case, as provided in subsection Clause (a1) or (b2) below: (a1) The Company Issuers may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor Notespredecessor 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 Company Issuers shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company Issuers shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing Issuers of such Special Record Date. In Date and, in the name and at the expense of the CompanyIssuers, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of the Securities of such series at its his address as it appears in the Note Security 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor Notespredecessor securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b2) The Company 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 on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company Issuers to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 1 contract

Samples: Indenture (Amerigas Partners Lp)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the registered Holder thereof on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection Clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed paymentpayment (which shall not be less than 20 days after such notice is received by the Trustee), and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities of such series at its his address as it appears in the Note Security 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange or automated quotation system on which the Notes such Securities may be listedlisted or traded, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection and Section 305, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security, shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity. For each series of Securities, the Company shall, prior to 10:30 a.m. (Eastern time) on each payment date for principal and premium, if any, and interest, if any, deposit with the Trustee money in immediately available funds sufficient to make cash payments due on the applicable payment date.

Appears in 1 contract

Samples: Indenture (Prosperity Bancshares Inc)

Payment of Interest; Interest Rights Preserved. (a) Interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest . (b) Interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, (other than pursuant to the extent lawful an Extended Interest Payment Period) (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities of such series at its his address as it appears in the Note Security 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection clause (b2). (b2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. Trustee in its sole discretion. (c) Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity. (d) For the purposes of determining the Holders who are entitled to participate in any distribution on the Securities in respect of which a Regular Record Date or a Special Record Date is not otherwise provided for in this Indenture, or for the purpose of any other action (unless provided for pursuant to Section 3.1), the Company may from time to time fix a date, not more than 90 days prior to the date of the payment of distribution or other action, as the case may be, as a record date for the determination of the identity of the Holders of record for such purposes.

Appears in 1 contract

Samples: Securities Purchase and Exchange Agreement

Payment of Interest; Interest Rights Preserved. Interest on any Convertible Note 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 such Convertible Note (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Convertible Note which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such overdue interest and (to the extent lawful) interest on such overdue interest at the rate borne by the Convertible Notes (such overdue interest and interest thereon herein collectively called “Defaulted Interest Interest”) may be paid by the Company, at its election in each case, as provided in subsection clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Convertible Notes (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Convertible Note and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder at its address as it appears given in the Note Registermanner provided for in Section 1.5, 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 Persons in whose names the Convertible Notes (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection clause (b2). (b2) The Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Convertible Notes may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Convertible Note delivered under this Supplemental Indenture upon registration of transfer of or in exchange for or in lieu of any other Convertible Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Convertible Note.

Appears in 1 contract

Samples: First Supplemental Indenture (Chartered Semiconductor Manufacturing LTD)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Companyrelevant Issuer, at its election in each case, as provided in subsection Clause (a1) or (b2) below: (a1) The Company relevant Issuer may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company relevant Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company relevant 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 Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing relevant Issuer of such Special Record Date. In Date and, in the name and at the expense of the Companyrelevant Issuer, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, given to each Holder at its address as it appears of Securities of such series in the Note Registermanner 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b2) The Company relevant Issuer may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company relevant Issuer to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 1 contract

Samples: Indenture (Haleon PLC)

Payment of Interest; Interest Rights Preserved. Interest Unless otherwise provided as contemplated by Section 3.1, interest on any Note Registered 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 Note Registered Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder of any Registered Security on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection clause (a1) or (b2) below: (a1) The the Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Registered Securities of such series (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Registered Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)Clause provided. Thereupon the Trustee Company shall fix a Special Record 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 Company Trustee, in writing of such Special Record Date. In the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Registered Securities of such series at its his address as it appears in the Note Security 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 Persons in whose names the Notes Registered Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection clause (b2).; or (b2) The the Company may make payment of any Defaulted Interest on the Registered Securities of any series in any other lawful manner not inconsistent with the requirements of any securities securities, exchange on which the Notes such Registered Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. Unless otherwise provided as contemplated by Section 3.1, interest, if any, will be payable in respect of definitive Bearer Securities upon presentation and surrender of the appropriate coupons appertaining thereto. Any Defaulted Interest payable in respect of any Bearer Security shall be payable pursuant to such procedures as may be satisfactory to the Trustee in such manner that there is no discrimination between the Holders of Registered Securities and Bearer Securities of the same series and notice of the payment date therefor shall be given by the Trustee in the name and at the expense of the Company by publication in the manner set forth in Section 1.6. Subject to the foregoing provisions of this SectionSection and Section 3.5, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 1 contract

Samples: Indenture (Textron Inc)

Payment of Interest; Interest Rights Preserved. Interest Subject to the last paragraph of this Section, interest (including Special Interest, if any) on any Note which Security that 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest (or Special Interest, if any) on any Note which Security that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note and Security, the date of the proposed paymentpayment and the Special Record Date, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)clause provided. Thereupon 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 receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company Trustee, in writing of such Special Record Date. In the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder at its such Holder's address as it appears in the Note Security 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 Persons in whose names the Notes Securities (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection clause (b2). (b2) The Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection 3.7 and of Section 3.5, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest (including Special Interest, if any) accrued and unpaid, and to accrue, which were carried by such other NoteSecurity. 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 (Reliant Resources Inc)

Payment of Interest; Interest Rights Preserved. Interest Unless otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered in the Security Register at the close of business on the Regular Record Date for such interestInterest Payment Date. Any interest on any Note Security of any series which is payable, payable but is not punctually paid or duly provided for, for on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection Clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder at its address as it appears in the Note 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 Notes (or their respective Predecessor Notes) are registered on such Special Record Date and shall no longer be payable pursuant to the following subsection (b). (b) The Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b), such payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Note.to

Appears in 1 contract

Samples: Indenture (Pentair Inc)

Payment of Interest; Interest Rights Preserved. Interest Unless otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered in the Security Register at the close of business on the Regular Record Date for such interestInterest Payment Date. Any interest on any Note Security of any series which is payable, payable but is not punctually paid or duly provided for, for on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 5 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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities of such series at its such Holder's address as it appears in the Note Security 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection clause (b2). (b2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of of, or in exchange for for, or in lieu of of, any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 1 contract

Samples: Indenture (Uhc Capital I)

Payment of Interest; Interest Rights Preserved. Interest on any Note Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date the Stated Maturity of such interest shall be paid to the person Person in whose name that Note (or one or more Predecessor Notes) the Security is registered at the close of business on the Regular Record Date for such interestinterest payment. Any interest on any Note Security which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date the Stated Maturity of such interest, and interest on such defaulted interest at the then applicable interest rate borne by the NotesSecurities, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") ”), shall forthwith cease to be payable to the Holder on the Regular Record Date; and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection (a) or (b) below: (a) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes (or their respective Predecessor Notes) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security and the date (not less than 20 days after such notice) of the proposed paymentpayment (the “Special Payment Date”), and at on the same time date of payment the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed paymentSpecial Payment Date, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)provided. Thereupon There upon 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 Payment 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 Company in writing of such Special Record Date. In Unless the Company issues a press release to the same effect, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder at its address as it appears in the Note Security Register, not less than 10 days prior to such Special Record DateDate or notify in such other manner as the Trustee determines, including in accordance with any Applicable Procedures. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Payment Date therefor having been so mailedmailed or otherwise conveyed, such Defaulted Interest shall be paid to the persons Persons in whose names the Notes (or their respective Predecessor Notes) Securities are registered on such Special Record Date and shall no longer be payable pursuant to the following subsection paragraph (b). (b) The Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any national securities exchange on which the Notes Securities may be listed, and upon such notice as may be required by this Indenture not inconsistent with the requirements of such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)subsection, such payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection 2.16, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 1 contract

Samples: Indenture (Mylan Inc.)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is 34 registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection Clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, given to each Holder at its address as it appears of Securities of such series in the Note Registermanner 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity. 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 or otherwise 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, 35 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

Samples: Indenture (Cypress Semiconductor Corp /De/)

Payment of Interest; Interest Rights Preserved. Interest on any Note Security which is payable, and is punctually paid or duly provided for, on any Interest Payment the Final Maturity Date of such interest shall be paid to the person Person in whose name that Note (or one or more Predecessor Notes) the Security is registered at the close of business on the Regular Record Date for such interestinterest payment. Any interest on any Note Security which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date the Stated Maturity of such interest, and interest on such defaulted interest at the then applicable interest rate borne by the NotesSecurities, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") ), shall forthwith cease to be payable to the Holder on the Regular Record Date; and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection Subsection (a) or (b) below: (a) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes (or their respective Predecessor Notes) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security and the date (not less than 20 days after such notice) of the proposed paymentpayment (the "Special Payment Date"), and at on the same time date of payment the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed paymentSpecial Payment Date, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Payment 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 Company in writing of such Special Record Date. In Unless the Company issues a press release to the same effect, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder at its address as it appears in the Note Security Register, not less than 10 days prior to such Special Record DateDate or notify in such other manner as the Trustee determines, including in accordance with any Applicable Procedures. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Payment Date therefor having been so mailedmailed or otherwise conveyed, such Defaulted Interest shall be paid to the persons Persons in whose names the Notes (or their respective Predecessor Notes) Securities are registered on such Special Record Date and shall no longer be payable pursuant to the following subsection paragraph (b). (b) The Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes Securities may be listed, and upon such notice as may be required by this Indenture not inconsistent with the requirements of such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)subsection, such payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection 2.16, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity. All references to "interest" in this Indenture include, without limitation, all rights to the payment of Additional Interest, in accordance with the terms of the Registration Rights Agreement, and Contingent Interest.

Appears in 1 contract

Samples: Indenture (United Auto Group Inc)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CompanyPartnership, at its election in each case, as provided in subsection Clause (a1) or (b2) below: (a1) The Company Partnership may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company Partnership shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company Partnership 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 Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing Partnership of such Special Record Date. In Date and, in the name and at the expense of the CompanyPartnership, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities of such series at its his address as it appears in the Note Security 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b2) The Company Partnership 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 or automated quotation system on which the Notes such Securities may be listedlisted or traded, and upon such notice as may be required by such exchange, if, after written notice given by the Company Partnership to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection and Section 305, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security, shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity. For each series of Securities, the Partnership shall, prior to 10:30 a.m. (New York City time) on each payment date for principal and premium, if any, and interest, if any, deposit with the Trustee money in immediately available funds sufficient to make cash payments due on the applicable payment date. SECTION 308. Persons Deemed Owners Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, prior to due presentment of a Security for registration of transfer, the Partnership, the Trustee and any agent of the Partnership or the Trustee may treat the Person in whose name such Security is registered as the owner of such Security for the purpose of receiving payment of principal of and any premium and (subject to Sections 305 and 307) any interest on such Security and for all other purposes whatsoever, whether or not such Security is overdue, and neither the Partnership, the Trustee nor any agent of the Partnership or the Trustee shall be affected by notice to the contrary. No holder of any beneficial interest in any Global Security held on its behalf by a Depositary shall have any rights under this Indenture with respect to such Global Security, and such Depositary may be treated by the Partnership, the Trustee and any agent of the Partnership or the Trustee as the owner of such Global Security for all purposes whatsoever. None of the Partnership, the Trustee nor any agent of the Partnership or the Trustee will have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests of a Global Security or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests.

Appears in 1 contract

Samples: Indenture (Kinder Morgan Energy Partners L P)

Payment of Interest; Interest Rights Preserved. Interest Unless otherwise provided as contemplated by Section 3.01, interest on any Note Registered Security which is payable, and is punctually paid or duly provided forfor no later than 1:00 p.m., on any Interest Payment Date shall be paid to the person Person in whose name that Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Registered Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection clause (a1) or (b2) below: : (a1) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Registered Securities of such series (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Registered Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Registered Securities of such Series at its his address as it appears in the Note Security 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection clause (b2). (b) The Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b), such payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Note.

Appears in 1 contract

Samples: Senior Debt Indenture (Hasbro Inc)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by Section 3.01 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted InterestDEFAULTED INTEREST") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection Clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, given to each Holder at its address as it appears of Securities of such series in the Note Registermanner set forth in Section 1.06, 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 1 contract

Samples: Indenture (United Parcel Service Inc)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CompanyIssuer, at its election in each case, as provided in subsection Clause (a1) or (b2) below: (a1) The Company Issuer may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing Issuer of such Special Record Date. In Date and, in the name and at the expense of the CompanyIssuer, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, given to each Holder at its address as it appears of Securities of such series in the Note Registermanner 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b2) The Company Issuer may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company Issuer to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 1 contract

Samples: Indenture

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection Clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest to the persons Persons -35- 44 in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities of such series at its his or her address as it appears in the Note Security 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b), such payment shall be deemed practicable by the Trustee. securi- Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 1 contract

Samples: Indenture (Popular International Bank Inc)

Payment of Interest; Interest Rights Preserved. Interest on any Note 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 Note (or one or more Predecessor Notes) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the Regular Record Date; and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection (a) or subsection (b) below: (a) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes (or their respective Predecessor 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a). 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 Company in writing of such Special Record Date. In the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder at its address as it appears in the Note 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 Persons in whose names the Notes (or their respective Predecessor Notes) are registered on such Special Record Date and shall no longer be payable pursuant to the following subsection (b). (b) The Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b), such payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Note.

Appears in 1 contract

Samples: Indenture (Saks Inc)

Payment of Interest; Interest Rights Preserved. Interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted InterestDEFAULTED INTEREST") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the CompanyCompany or the Guarantor, at its election in each case, as provided in subsection clause (a1) or (b2) below: (a1) The Company or the Guarantor may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company or the Guarantor shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company or the 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 Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing and the Guarantor of such Special Record Date. In Date and, in the name and at the expense of the CompanyCompany or the Guarantor, the Trustee shall cause notice of the proposed payment of such Defaulted De- faulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities of such series at its his address as it appears in the Note Security 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection clause (b2). (b2) The Company 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 on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company or the Guarantor to the Trustee of the proposed payment pursuant to this subsection (b)clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this SectionSection 3.07, each Note Security lawfully delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 1 contract

Samples: Indenture (Xl Capital LTD)

Payment of Interest; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by SECTION 3.01 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection Clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, given to each Holder at its address as it appears of Securities of such series in the Note Registermanner set forth in SECTION 1.06, 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). (b2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 1 contract

Samples: Indenture (Amerada Hess Corp)

Payment of Interest; Interest Rights Preserved. Interest on any Note Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date Date, shall be paid to the person Person in whose name that Note Security (or one or more Predecessor NotesSecurities) is registered at the close of business on the Regular Record Date for such interest, except that interest payable on the Stated Maturity of a Security shall be paid to the Person to whom principal is paid. Any Subject to Article XIII, any interest on any Note Security which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") ), shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection Clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class class, postage prepaid, to each Holder at its the address of such Holder as it appears in the Note Register, 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 Company, 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 Persons in whose names the Notes Securities (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection Clause (b2). Such payments shall be deemed to cure any such Default. (b2) The Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes Securities may be listed, and upon such notice as may be required by such exchangeexchange (or by the Trustee if the Securities are not listed), if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)Clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Note.Security. Under the Registration Rights Agreement, upon the occurrence of the events discussed below, additional interest shall become payable in respect of the Securities, and corresponding additional distributions shall become payable on the Trust Securities as follows: a. If

Appears in 1 contract

Samples: Senior Subordinated Indenture (Superior National Insurance Group Inc)

Payment of Interest; Interest Rights Preserved. Interest Unless otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Note 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 Note Security (or one or more Predecessor NotesSecurities) is registered in the Security Register at the close of business on the Regular Record Date for such interestInterest Payment Date. Any interest on any Note Security of any series which is payable, payable but is not punctually paid or duly provided for, for on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the relevant Regular Record Date; Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection clause (a1) or (b2) below: (a1) The Company may elect to make payment of any Defaulted Interest to the persons Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons Persons entitled to such Defaulted Interest as provided in this subsection (a)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 Company in writing of such Special Record Date. In Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities of such series at its such Holder's address as it appears in the Note Security 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 Persons in whose names the Notes Securities of such series (or their respective Predecessor NotesSecurities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection clause (b2). (b2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b)clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note Security delivered under this Indenture upon registration of transfer of of, or in exchange for for, or in lieu of of, any other Note Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other NoteSecurity.

Appears in 1 contract

Samples: Indenture (Olympic Financial LTD)

Payment of Interest; Interest Rights Preserved. Interest on any 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 Note (or one or more Predecessor Notes) is registered at the close of business on the Regular Record Date for such interest. Any interest on any Note which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the then applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the Holder on the Regular Record Date; and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection (a) or (b) below: (a) The Company may elect to make payment of any Defaulted Interest to the persons in whose names the Notes (or their respective Predecessor 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 Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons entitled to such Defaulted Interest as provided in this subsection (a). 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 Company in writing of such Special Record Date. In the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder at its address as it appears in the Note 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 52 -44- whose names the Notes (or their respective Predecessor Notes) are registered on such Special Record Date and shall no longer be payable pursuant to the following subsection (b). (b) The Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection (b), such payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Note.

Appears in 1 contract

Samples: Indenture (Verio Inc)

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