Common use of Payment of the Put Clause in Contracts

Payment of the Put. Option Repayment Price to Holders of Trust Securities shall be made at the Corporate Trust Office of the Property Trustee, provided that the Depositor has paid the Property Trustee a sufficient amount of cash in connection with the related repayment of the Subordinated Debt Security. Notwithstanding the foregoing, so long as the Holder of any Trust Securities is the Collateral Agent, the payment of the Put Option Repayment Price in respect of such Trust Securities held by the Collateral Agent shall be made no later than 1:00 p.m., New York City time, on the Put Option Exercise Date by check or wire transfer in immediately available funds at such place and to such account as may be designated by the Collateral Agent. If the Property Trustee holds immediately available funds sufficient to pay the Put Option Repayment Price of such Trust Securities, then, immediately prior to the close of business on the Put Option Exercise Date, such Trust Securities will cease to be outstanding and distributions thereon will cease to accrue, whether or not Trust Securities are delivered to the Property Trustee, and all other rights of the Holder in respect of the Trust Securities, including the Holder's right to require the Trust to repay such Trust Securities, shall terminate and lapse (other than the right to receive the Put Option Repayment Price but without interest on such Put Option Repayment Price). Neither the Regular Trustees nor the Trust shall be required to register or cause to be registered the transfer of any Trust Securities for which repayment has been elected. If payment of the Put Option Repayment Price in respect of Trust Securities is (i) improperly withheld or refused and not paid either by the Property Trustee or by the Depositor as guarantor pursuant to the Guarantee, or (ii) not paid by the Property Trustee as the result of an Event of Default with respect to the Subordinated Debt Securities presented for repayment as described in Section 4.3(b), Distributions on such Trust Securities will continue to accrue, from the original Put Option Exercise Date to the actual date of payment, in which case the actual payment date will be considered the Put Option Exercise Date for purposes of calculating the Put Option Repayment Price.]

Payment of the Put. Option Repayment Price to Holders of Trust Securities shall be made at the Corporate Trust Office of the Property Trustee, provided that the Depositor has paid the Property Trustee a sufficient amount of cash in connection with the related repayment of the Subordinated Debt SecurityDebenture. Notwithstanding the foregoing, so long as the Holder of any Trust Securities is the Collateral Agent, the payment of the Put Option Repayment Price in respect of such Trust Securities held by the Collateral Agent shall be made no later than 1:00 p.m., New York City time, on the Put Option Exercise Date by check or wire transfer in immediately available funds at such place and to such account as may be designated by the Collateral Agent. If the Property Trustee holds immediately available funds sufficient to pay the Put Option Repayment Price of such Trust Securities, then, immediately prior to the close of business on the Put Option Exercise Date, such Trust Securities will cease to be outstanding and distributions thereon will cease to accrue, whether or not Trust Securities are delivered to the Property Trustee, and all other rights of the Holder in respect of the Trust Securities, including the Holder's right to require the Trust to repay such Trust Securities, shall terminate and lapse (other than the right to receive the Put Option Repayment Price but without interest on such Put Option Repayment Price). Neither the Regular Trustees nor the Trust shall be required to register or cause to be registered the transfer of any Trust Securities for which repayment has been elected. If payment of the Put Option Repayment Price in respect of Trust Securities is (i) improperly withheld or refused and not paid either by the Property Trustee or by the Depositor as guarantor pursuant to the Guarantee, or (ii) not paid by the Property Trustee as the result of an Event of Default with respect to the Subordinated Debt Securities Debentures presented for repayment as described in Section paragraph 4.3(b), Distributions on such Trust Securities will continue to accrue, from the original Put Option Exercise Date to the actual date of payment, in which case the actual payment date will be considered the Put Option Exercise Date for purposes of calculating the Put Option Repayment Price.]

Payment of the Put. Option Repayment Price to Holders of Trust Securities shall be made at the Corporate Trust Office of the Property TrusteeExchange Agent, provided that the Depositor has paid the Property Trustee Exchange Agent a sufficient amount of cash in connection with the related repayment of the Subordinated Debt Security. Notwithstanding the foregoing, so long as the Holder of any Trust Securities is the Collateral Agent, the payment of the Put Option Repayment Price in respect of such Trust Securities held by the Collateral Agent shall be made Debenture no later than 1:00 p.m., New York City time, on the Put Option Exercise Date by check or wire transfer in immediately available funds at such place and to such account as may be designated by the Collateral Agentsuch Holders. If the Property Trustee Exchange Agent holds immediately available funds sufficient to pay the Put Option Repayment Price of such Trust Securities, then, immediately prior to the close of business on the Put Option Exercise Date, such Trust Securities will cease to be outstanding and distributions thereon will cease to accrue, whether or not Trust Securities are delivered to the Property Trustee, and all other rights of the Holder in respect of the Trust Securities, including the Holder's right to require the Trust to repay such Trust Securities, shall terminate and lapse (other than the right to receive the Put Option Repayment Price but without interest on such Put Option Repayment Price). Neither the Regular Administrative Trustees nor the Trust shall be required to register or cause to be registered the transfer of any Trust Securities for which repayment has been elected. If payment of the Put Option Repayment Price in respect of Trust Securities is (i) improperly withheld or refused and not paid either by the Property Trustee Exchange Agent or by the Depositor as guarantor pursuant to the Securities Guarantee, or (ii) not paid by the Property Trustee Exchange Agent as the result of an Event of Default with respect to the Subordinated Debt Securities Debentures presented for repayment as described in Section 4.3(b6.6(b), Distributions on such Trust Securities will continue to accrue, from the original Put Option Exercise Date to the actual date of payment, in which case the actual payment date will be considered the Put Option Exercise Date for purposes of calculating the Put Option Repayment Price.]

Payment of the Put. Option Repayment Price to Holders of Trust Securities shall be made at the Corporate Trust Office of the Property Trustee, provided that the Depositor has paid the Property Trustee a sufficient amount of cash in connection with the related repayment of the Subordinated Debt SecurityDebenture. Notwithstanding the foregoing, so long as the Holder of any Trust Securities is the Collateral Agent, the payment of the Put Option Repayment Price in respect of such Trust Securities held by the Collateral Agent shall be made no later than 1:00 p.m., New York City time, on the Put Option Exercise Date by check or wire transfer in immediately available funds at such place and to such account as may be designated by the Collateral Agent. If the Property Trustee holds immediately available funds sufficient to pay the Put Option Repayment Price of such Trust Securities, then, immediately prior to the close of business on the Put Option Exercise Date, such Trust Securities will cease to be outstanding and distributions thereon will cease to accrue, whether or not Trust Securities are delivered to the Property Trustee, and all other rights of the Holder in respect of the Trust Securities, including the Holder's right to require the Trust to repay such Trust Securities, shall terminate and lapse (other than the right to receive the Put Option Repayment Price but without interest on such Put Option Repayment Price). Neither the Regular Trustees nor the Trust shall be required to register or cause to be registered the transfer of any Trust Securities for which repayment has been elected. If payment of the Put Option Repayment Price in respect of Trust Securities is (i) improperly withheld or refused and not paid either by the Property Trustee or by the Depositor as guarantor pursuant to the Guarantee, or (ii) not paid by the Property Trustee as the result of an Event of Default with respect to the Subordinated Debt Securities presented for repayment as described in Section 4.3(b), Distributions on such Trust Securities will continue to accrue, from the original Put Option Exercise Date to the actual date of payment, in which case the actual payment date will be considered the Put Option Exercise Date for purposes of calculating the Put Option Repayment Price.]for