Common use of Reset Yield Clause in Contracts

Reset Yield. (a) The yield or cash interest rate on the Securities will be reset by the Remarketing Agent on each Remarketing Reset Date to the yield (the "Reset Yield"), or if the Securities will bear cash interest pursuant to Section 16.02(b), to the cash interest rate (the "Reset Rate"), for the applicable Interest Period (as defined in clause (3) of the definition thereof) necessary for the proceeds from the remarketing of the Securities, net of any fee to the Remarketing Agent, to be 100% of Accreted Principal Amount, plus any accrued an unpaid interest (including Contingent Interest and Liquidated Damages, if any), as of such Remarketing Reset Date, of the Securities remarketed; provided that the Reset Yield shall not exceed the maximum rate permitted by law and shall not be less than 0% per annum. (i) The Company may elect prior to any remarketing that following such remarketing the Securities will bear cash interest, in which case the Reset Yield shall be 0% during the period from and including the applicable Remarketing Reset Date to but excluding the next succeeding Remarketing Reset Date. (ii) If the Company elects pursuant to clause (b)(i) above that the Securities will bear cash interest, the Company shall pay cash interest on the Accreted Principal Amount of the Securities at a rate per annum equal to the Reset Rate. The Company will pay such cash interest on the Interest Payment Dates specified by the Company in the notice referred to in Section 16.03(e), to the Holders of Securities as of the applicable Regular Record Dates specified by the Company in such notice. (c) Notwithstanding the foregoing, if (i) less than $50 million aggregate Original Principal Amount of Securities is to be remarketed on any Remarketing Reset Date pursuant to Section 16.03 or (ii) a Failed Remarketing occurs on any Remarketing Reset Date, the Securities shall not bear cash interest pursuant to any election by the Company pursuant to Section 16.02(b) and the Reset Yield shall be the yield necessary, in the judgment of the Remarketing Agent based on bids from at least three independent nationally recognized securities dealers selected by the Remarketing Agent, for the Securities to trade at a price equal to 100% of the Accreted Principal Amount thereof as of such Remarketing Reset Date. If the Remarketing Agent is not able to obtain bids from at least three independent nationally recognized securities dealers on a Remarketing Reset Date, the Reset Yield shall be the Reset Yield in effect on the previous Remarketing Reset Date, or if no previous Remarketing Reset Date has occurred or the Reset Yield has not previously been established, the regular interest rate or Applicable Yield (other than 0%) most recently in effect for the Securities immediately prior to the applicable Remarketing Reset Date. (d) By approximately 4:30 p.m., New York City time, on any Remarketing Reset Date, the Remarketing Agent shall notify the Company, the Trustee, the Paying Agent and the Depositary of the Reset Yield or, if applicable, the Reset Rate. The Company shall issue a press release through 91 Reuters Economic Services and Bloomberg Business News or other reasonable means of distribution stating such Reset Yield or Reset Rate and publish such information on its website on the World Wide Web.

Reset Yield. (a) The yield or cash interest rate on the Securities will be reset by the Remarketing Agent on as of each Remarketing Reset Date to the yield (the "“Reset Yield"), or if the Securities will bear cash interest pursuant to Section 16.02(b), to the cash interest rate (the "Reset Rate"), ”) for the applicable Interest Period (as defined in clause (3) of the definition thereof) necessary for the proceeds from the remarketing of the Securities, net of any fee to the Remarketing Agent, to be 100% of the Accreted Principal Amount, plus any accrued an unpaid interest (including Contingent Interest and Liquidated Damages, if any), as of such Remarketing Reset Date, of the Securities remarketed; provided that the Reset Yield shall not exceed the maximum rate permitted by law and shall not be less than 0% per annum. (i) . The Company may elect prior remarketing of the Securities with respect to any remarketing that following such remarketing the Securities will bear cash interest, in which case the Remarketing Reset Yield shall be 0% Date may take place on any Business Day during the period from and including the applicable Reset Period Commencement Date related to such Remarketing Reset Date to but excluding and including such Remarketing Reset Date. The “Reset Period Commencement Date” for a Remarketing Reset Date will be the next succeeding tenth Business Day preceding such Remarketing Reset Date. (ii) If the Company elects pursuant to clause (b)(i) above that the Securities will bear cash interest, the Company shall pay cash interest on the Accreted Principal Amount of the Securities at a rate per annum equal to the Reset Rate. The Company will pay such cash interest on the Interest Payment Dates specified by the Company in the notice referred to in Section 16.03(e), to the Holders of Securities as of the applicable Regular Record Dates specified by the Company in such notice. (cb) Notwithstanding the foregoing, if (i) Holders of less than $50 million aggregate Original Principal Amount of Securities is have elected or been deemed to be have elected to have their Securities remarketed on any Remarketing Reset Date pursuant to Section 16.03 15.03 or (ii) a Failed Remarketing occurs on any Remarketing Reset Date, the Securities shall not bear cash interest pursuant to any election by the Company pursuant to Section 16.02(b) and the Reset Yield shall be the yield necessary, in the judgment of the Remarketing Agent based on bids from at least three independent nationally recognized securities dealers selected by the Remarketing Agent, for the Securities to trade at a price equal to 100% of the Accreted Principal Amount thereof as of such Remarketing Reset Date. If the Remarketing Agent is not able to obtain bids from at least three independent nationally recognized securities dealers on a Remarketing Reset DateDate or no Remarketing Agent is then appointed, the Reset Yield shall be the Reset Yield in effect on the previous Remarketing Reset Date, or if no previous Remarketing Reset Date has occurred or the Reset Yield has not previously been establishedoccurred, the regular interest rate or Applicable Yield (other than 0%) most recently in effect for the Securities immediately prior to the applicable Remarketing Reset Date. (dc) By approximately 4:30 p.m., New York City time, on any Remarketing Reset DateDate or, if earlier, the date on which the Reset Yield was determined in accordance with Section 15.02(a), the Remarketing Agent shall notify the Company, the Trustee, the Paying Agent and the Depositary of the Reset Yield or, if applicable, the Reset RateYield. The Company shall issue a press release through 91 Reuters Economic Services and Bloomberg Business News or other reasonable means of distribution stating such Reset Yield or Reset Rate and publish such information on its website on the World Wide Web.

Reset Yield. (a) The yield or cash interest rate on the Securities will be reset by the Remarketing Agent on each Remarketing Reset Date to the yield (the "Reset Yield"), or if the Securities will bear cash interest pursuant to Section 16.02(b), to the cash interest rate (the "Reset Rate"), ) for the applicable Interest Period (as defined in clause (3) of the definition thereof) necessary for the proceeds from the remarketing of the Securities, net of any fee to the Remarketing Agent, to be 100% of Accreted Principal Amount, plus any accrued an unpaid interest (including Contingent Interest and Liquidated Damages, if any), as of such Remarketing Reset Date, of the Securities remarketed; provided that the Reset Yield shall not exceed the maximum rate permitted by law and shall not be less than 0% per annum. (i) The Company may elect prior to any remarketing that following such remarketing the Securities will bear cash interest, in which case the Reset Yield shall be 0% during the period from and including the applicable Remarketing Reset Date to but excluding the next succeeding Remarketing Reset Date. (ii) If the Company elects pursuant to clause (b)(i) above that the Securities will bear cash interest, the Company shall pay cash interest on the Accreted Principal Amount of the Securities at a rate per annum equal to the Reset Rate. The Company will pay such cash interest on the Interest Payment Dates specified by the Company in the notice referred to in Section 16.03(e), to the Holders of Securities as of the applicable Regular Record Dates specified by the Company in such notice. (cb) Notwithstanding the foregoing, if (i) Holders of less than $50 million aggregate Original Principal Amount of Securities is elect to be have their Securities remarketed on any Remarketing Reset Date pursuant to Section 16.03 15.03 or (ii) a Failed Remarketing occurs on any Remarketing Reset Date, the Securities shall not bear cash interest pursuant to any election by the Company pursuant to Section 16.02(b) and the Reset Yield shall be the yield necessary, in the judgment of the Remarketing Agent based on bids from at least three independent nationally recognized securities dealers selected by the Remarketing Agent, for the Securities to trade at a price equal to 100% of the Accreted Principal Amount thereof as of such Remarketing Reset Date. If the Remarketing Agent is not able to obtain bids from at least three independent nationally recognized securities dealers on a Remarketing Reset Date, the Reset Yield shall be the Reset Yield in effect on the previous Remarketing Reset Date, or if no previous Remarketing Reset Date has occurred or the Reset Yield has not previously been establishedoccurred, the regular interest rate or Applicable Yield (other than 0%) most recently in effect for the Securities immediately prior to the applicable Remarketing Reset Date. (dc) By approximately 4:30 p.m., New York City time, on any Remarketing Reset Date, the Remarketing Agent shall notify the Company, the Trustee, the Paying Agent and the Depositary of the Reset Yield or, if applicable, the Reset RateYield. The Company shall issue a press release through 91 Reuters Economic Services and Bloomberg Business News or other reasonable means of distribution stating such Reset Yield or Reset Rate and publish such information on its website on the World Wide Web.