Common use of Satisfaction of Sinking Fund Payments with Debt Securities Clause in Contracts

Satisfaction of Sinking Fund Payments with Debt Securities. The Company may, in satisfaction of all or any part of any mandatory sinking fund payment with respect to the Debt Securities of a series, (1) deliver Outstanding Debt Securities of such series (other than any previously called for redemption) together in the case of any Bearer Debt Securities of such series with all unmatured coupons appertaining thereto and (2) apply as a credit Debt Securities of such series which have been redeemed either at the election of the Company pursuant to the terms of such Debt Securities or through the application of permitted optional sinking fund payments pursuant to the terms of such Debt Securities, as provided for by the terms of such Debt Securities, or which have otherwise been acquired by the Company; PROVIDED that such Debt Securities so delivered or applied as a credit have not been previously so credited. Such Debt Securities shall be received and credited for such purpose by the Trustee at the applicable Redemption Price specified in such Debt Securities for redemption through operation of the sinking fund and the amount of such mandatory sinking fund payment shall be reduced accordingly.

Satisfaction of Sinking Fund Payments with Debt Securities. The Company may, in satisfaction of all or any part of any mandatory sinking fund payment with respect to the Debt Securities of a series, (1) deliver Outstanding Debt Securities of such series (other than any previously called for redemption) together in the case of any Bearer Debt Securities of such series with all unmatured coupons appertaining thereto and (2) apply as a credit Debt Securities of such series which have been redeemed either at the election of the Company pursuant to the terms of such Debt Securities or through the application of permitted optional sinking fund payments pursuant to the terms of such Debt Securities, as provided for by the terms of such Debt Securities, or which have otherwise been acquired by the Company; PROVIDED provided that such Debt Securities so delivered or applied as a credit have not been previously so credited. Such Debt Securities shall be received and credited for such purpose by the Trustee at the applicable Redemption Price specified in such Debt Securities for redemption through operation of the sinking fund and the amount of such mandatory sinking fund payment shall be reduced accordingly.

Satisfaction of Sinking Fund Payments with Debt Securities. The Company may, in satisfaction In lieu of making all or any part of any a mandatory sinking fund payment with respect to the any Debt Securities of a seriesseries in cash, (1) the Company may at its option, at any time no more than 16 months and no less than 30 days prior to the date on which such sinking fund payment is due, deliver Outstanding to the Trustee Debt Securities of such series (other than any together with the unmatured coupons, if any, appertaining thereto) theretofore purchased or otherwise acquired by the Company, or credit securities previously called cancelled or otherwise delivered to the Trustee for redemption) together in the case of any Bearer cancellation, except Debt Securities of such series with all unmatured coupons appertaining thereto and (2) apply as a credit Debt Securities of such series which that have been redeemed either at the election of the Company pursuant to the terms of such Debt Securities or through the application of permitted mandatory or optional sinking fund payments pursuant to the terms of such the Debt Securities, as provided for by the terms Securities of such Debt Securitiesseries, or which have otherwise been acquired accompanied by a Company Order instructing the Company; PROVIDED that Trustee to cancel such Debt Securities if not previously cancelled or credit such obligations and stating that the Debt Securities of such series were originally issued by the Company by way of bona fide sale or other negotiation for value; provided that the Debt Securities to be so delivered or applied as a credit credited have not been previously so credited. Such The Debt Securities to be so credited shall be received and credited for such purpose by the Trustee at the applicable Redemption Price for such Debt Securities, as specified in such the Debt Securities so to be redeemed, for redemption through operation of the sinking fund and the amount of such mandatory sinking fund payment shall be reduced accordingly.