Payments Pursuant to Direct Actions. The Company will have the right to set off against its obligations to the Trust, as Holder of the Senior Notes, any payment made to a holder of Preferred Securities in connection with a Direct Action.
Appears in 4 contracts
Samples: Exhibit 4d (Ucu Capital Trust I), Ucu Capital Trust I, Valero Energy Corp/Tx
Payments Pursuant to Direct Actions. The Company will have the right to set off against its obligations to the Trust, as Holder of the Senior Deferrable Notes, any payment made to a holder of Preferred Securities in connection with a Direct Action.
Appears in 1 contract
Samples: Cinergy Corp
