Common use of Reset Rate Clause in Contracts

Reset Rate. (a) In connection with each Remarketing, the Remarketing Agent shall determine the Reset Rate (rounded to the nearest one-thousandth (0.001) of one percent per annum). (b) Anything herein to the contrary notwithstanding, the Reset Rate shall in no event exceed the maximum rate permitted by applicable law. (c) In the event of a Failed Final Remarketing or if no Applicable Ownership Interests in Debentures are included in Corporate Units and none of the Holders of the Separate Debentures elect to have their Debentures remarketed in any Remarketing, the applicable interest rate on the Debentures will not be reset and will continue to be the Coupon Rate. (d) In the event of a Successful Remarketing, the Coupon Rate shall be reset on the Remarketing Settlement Date to the Reset Rate as determined by the Remarketing Agent under the Remarketing Agreement, and the Company shall issue a press release promptly after such Successful Remarketing containing such Reset Rate and publish such information on its website. (e) In the event of a Failed Optional Remarketing or a Failed Final Remarketing the Company shall issue a press release and cause a notice of any Failed Remarketing to be published on its website (with a copy of such notice to be provided to the Purchase Contract Agent) before 9:00 a.m. New York City time on the Business Day immediately following such Failed Optional Remarketing, or in the case of the Final Remarketing, 9:00 a.m. New York City time on May 27, 2011.

Reset Rate. (a) In connection with each Remarketing, the Remarketing Agent shall determine the Reset Rate (rounded to the nearest one-thousandth (0.001) of one percent per annum). (b) . Anything herein to the contrary notwithstanding, the Reset Rate shall in no event exceed the maximum rate permitted by applicable law. (c) . In the event of a Failed Final Remarketing or if no Applicable Ownership Interests in Debentures Senior Notes are included in Corporate Units and none of the Holders holders of the Separate Debentures Senior Notes elect to have their Debentures Senior Notes remarketed in any Remarketing, the applicable interest rate on the Debentures Senior Notes will not be reset and will continue to be the Coupon Rate. (d) . In the event of a Successful Remarketing, the Coupon Rate shall be reset on the Remarketing Settlement Date to the Reset Rate as determined by the Remarketing Agent under the Remarketing Agreement, and the Company shall issue a press release promptly after such Successful Remarketing containing such Reset Rate (and whether the Company made any election under Section 2.02 or 3.05 hereof) and publish such information on its website. (e) . In the event of a Failed Optional Remarketing or a Failed Final Remarketing the Company shall issue a press release and cause a notice of any Failed Remarketing to be published on its website (with a copy of such notice to be provided to the Purchase Contract Agent) before 9:00 a.m. New York City time on the Business Day immediately following such Failed Optional Remarketing, or in the case of the Final Remarketing, 9:00 a.m. New York City time on May 27, 2011.