Common use of Preferred Securities Clause in Contracts

Preferred Securities. To exercise the Change of Control Repurchase Right, a Holder who has not separated its Securities pursuant to clause (a) above must deliver to the Agent, no earlier than the 60th and no later than the 90th day following the Change of Control Notice Date, irrevocable written notice in the form of Exhibit E hereto, of such Holder's election to have Preferred Securities components of its Securities exchanged for an equivalent Accreted Value of Debentures and to have such Debentures repurchased on the date specified in the Indenture. The Agent, based on such notices, shall notify the Trust, IndyMac Bancorp, the Property Trustee and the Exchange Agent, no later than the 90th day following the Change of Control Notice Date of the aggregate number of Preferred Securities to be exchanged for Debentures by the Trust and to be repurchased by IndyMac Bancorp. An election to exchange Preferred Securities for Debentures and to have such Debentures repurchased by IndyMac Bancorp shall also constitute an election to separate the related Securities into their component parts and the Agent, the Exchange Agent and the Property Trustee shall follow the procedures specified in Section 3.6 hereof and Section 6.8 of the Trust Agreement.

Preferred Securities. To exercise the Change of Control Repurchase Right, a Holder who has not separated its Securities pursuant to clause (a) above must deliver to the Agent, no earlier than the 60th and no later than the 90th day following the Change of Control Notice Date, irrevocable written notice in the form of Exhibit E hereto, of such Holder's election to have Preferred Securities components of its Securities exchanged for an equivalent Accreted Value of Debentures and to have such Debentures repurchased on the date specified in the Indenture. The Agent, based on such notices, shall notify the Trust, IndyMac BancorpKeySpan, the Property Trustee and the Exchange Agent, no later than the 90th day following the Change of Control Notice Date of the aggregate number of Preferred Securities to be exchanged for Debentures by the Trust and to be repurchased by IndyMac BancorpKeySpan. An election to exchange Preferred Securities for Debentures and to have such Debentures repurchased by IndyMac Bancorp KeySpan shall also constitute an election to separate the related Securities into their component parts and the Agent, the Exchange Agent and the Property Trustee shall follow the procedures specified in Section 3.6 hereof (and Section 6.8 of the Trust AgreementDeclaration).

Preferred Securities. To exercise the Change of Control Repurchase Right, a Holder who has not separated its Securities Units pursuant to clause (a) above must deliver to the Unit Agent, no earlier than the 60th 180th and no later than the 90th 210th day following the Change of Control Notice Date, irrevocable written notice substantially in the form of Exhibit E hereto, of such Holder's election to have Preferred Securities components of its Securities Units exchanged for an equivalent Accreted Value of Debentures and to have such Debentures repurchased on the date specified in the Indenture. The Unit Agent, based on such noticesnotices received by it, shall notify the Trust, IndyMac Bancorpthe Company, the Property Trustee and the Exchange Agent, no later than the 90th 211th day following the Change of Control Notice Date of the aggregate number of Preferred Securities to be exchanged for Debentures by the Trust and to be repurchased by IndyMac Bancorpthe Company. An election to exchange Preferred Securities for Debentures and to have such Debentures repurchased by IndyMac Bancorp the Company shall also constitute an election to separate the related Securities Units into their component parts and the Unit Agent, the Exchange Agent and the Property Trustee shall follow the procedures specified in Section 3.6 hereof (and Section 6.8 of the Trust AgreementDeclaration).

Preferred Securities. To exercise the Change of Control Repurchase Right, a Holder who has not separated its Securities Units pursuant to clause (a) above must deliver to the Unit Agent, no earlier than the 60th 180th and no later than the 90th 210th day following the Change of Control Notice Date, irrevocable written notice substantially in the form of Exhibit E hereto, of such Holder's ’s election to have Preferred Securities components of its Securities Units exchanged for an equivalent Accreted Value of Debentures and to have such Debentures repurchased on the date specified in the Indenture. The Unit Agent, based on such noticesnotices received by it, shall notify the Trust, IndyMac Bancorpthe Company, the Property Trustee and the Exchange Agent, no later than the 90th 211th day following the Change of Control Notice Date of the aggregate number of Preferred Securities to be exchanged for Debentures by the Trust and to be repurchased by IndyMac Bancorpthe Company. An election to exchange Preferred Securities for Debentures and to have such Debentures repurchased by IndyMac Bancorp the Company shall also constitute an election to separate the related Securities Units into their component parts and the Unit Agent, the Exchange Agent and the Property Trustee shall follow the procedures specified in Section 3.6 hereof (and Section 6.8 of the Trust AgreementDeclaration).

Preferred Securities. To exercise the Change of Control Repurchase Right, a Holder who has not separated its Securities pursuant to clause (a) above must deliver to the Agent, no earlier than the 60th and no later than the 90th day following the Change of Control Notice Date, irrevocable written notice in the form of Exhibit E hereto, of such Holder's election to have Preferred Securities components of its Securities exchanged for an equivalent Accreted Value of Debentures and to have such Debentures repurchased on the date specified in the Indenture. The Agent, based on such notices, shall notify the Trust, IndyMac BancorpWashington Mutual, the Property Trustee and the Exchange Agent, no later than the 90th day following the Change of Control Notice Date of the aggregate number of Preferred Securities to be exchanged for Debentures by the Trust and to be repurchased by IndyMac BancorpWashington Mutual. An election to exchange Preferred Securities for Debentures and to have such Debentures repurchased by IndyMac Bancorp Washington Mutual shall also constitute an election to separate the related Securities into their component parts and the Agent, the Exchange Agent and the Property Trustee shall follow the procedures specified in Section 3.6 hereof (and Section 6.8 of the Trust AgreementDeclaration).