Common use of Payment of the Debenture Clause in Contracts

Payment of the Debenture. 4.5.1. The payment of the Debenture shall be made in Brazilian currency, by means of a deposit in the checking account kept by the Issuer, and is subject to fulfillment of the following conditions precedent (“Conditions Precedent”): (a) settlement of the capital increase in Oi S.A., as provided for by the Agreement for Subscription of Shares Issued by Oi S.A., entered into by and between Oi S.A. and Portugal Telecom SGPS; and (b) the representations and warranties provided by the Issuer in Section 8 below shall be true, accurate and complete as of the Payment Date. 4.5.2. The payment of the Debenture shall be made on the same date of the financial settlement of the capital increase in Oi S.A., subject to receipt, by the Debentureholder, of a written notice sent by the Issuer of the fulfillment of the Conditions Precedent, as described in item 4.5.1 above (“Payment Date”).