Common use of Scheduled Interest Payments Clause in Contracts

Scheduled Interest Payments. (i) Pursuant to the Notes and Section 5.01 of the First Supplemental Indenture, the Company is obligated to make payments of interest (each, a “Scheduled Interest Payment”) on the Notes on each of October 15, 2008, April 15, 2009, October 15, 2009, April 15, 2010, October 15, 2010 and April 15, 2011 (each, a “Scheduled Interest Payment Date”). The Scheduled Interest Payments due on the Notes shall be made from amounts held in the Escrow Account in accordance with the procedures set forth in Section 4(b)(ii) below; provided, however, that nothing herein shall be construed as limiting the Company’s obligation to make all interest payments due on the Notes at the times and in the amounts required by the Notes, which obligation shall be absolute and unconditional. (ii) If the Company determines that Government Securities held in the Escrow Account will have to be liquidated in order for a Scheduled Interest Payment to be made, the Company shall, not later than five (5) Business Days prior to the applicable Scheduled Interest Payment Date, so notify the Escrow Agent and identify, in a written direction to the Escrow Agent, the particular Government Securities to be liquidated. The Escrow Agent shall liquidate the Government Securities so identified such that the proceeds of such sale shall be received by the Escrow Agent not later than the Business Day immediately preceding the applicable Scheduled Interest Payment Date. Unless otherwise instructed by the Trustee one (1) Business Day prior to the applicable Scheduled Interest Payment Date, not later than 10:00 a.m., New York time, on the applicable Scheduled Interest Payment Date, the Escrow Agent shall debit the Escrow Account and credit to the account of the Trustee as set forth in Section 4(e)(ii) hereof funds necessary to provide for payment in full of the next Scheduled Interest Payment on the Notes.

Scheduled Interest Payments. (i) Pursuant to the Notes and Section 5.01 of the First Supplemental IndentureNotes, the Company is obligated to make payments of interest (excluding any Additional Interest, Reserve Interest and Qualifying Tender Offer Interest, if applicable) on the Notes on each of September 15, 2010, March 15, 2011, September 15, 2011, March 15, 2012, September 15, 2012, March 15, 2013, September 15, 2013 and March 15, 2014 (each, a “Scheduled Interest Payment”) on the Notes on each of October 15, 2008, April 15, 2009, October 15, 2009, April 15, 2010, October 15, 2010 and April 15, 2011 (each, a “Scheduled Interest Payment Date”). The Scheduled Interest Payments due on the Notes shall are to be made made, at the election of the Company, from (1) amounts held in the Escrow Account in accordance with the procedures set forth in Section 4(b)(i) below or (2) other sources of funds available to the Company, as anticipated in Section 4(b)(ii) below, or from any combination of (1) and (2) above; provided, however, that nothing herein shall be construed as limiting the Company’s obligation to make all interest payments due on the Notes at the times and in the amounts required by the Notes, which obligation shall be absolute and unconditional. (iii) If the Company determines that Government Securities held in the Escrow Account will have elects to be liquidated in order for cause a Scheduled Interest Payment to be mademade using funds held in the Escrow Account, the Company shallthen, not later than five (5) Business Days prior to the applicable Scheduled Interest Payment Date, so notify the Escrow Agent and identify, in a written direction to the Escrow Agent, the particular Government Securities to be liquidated. The Escrow Agent shall liquidate the Government Securities so identified such that the proceeds date of such sale shall be received by the Escrow Agent not later than the Business Day immediately preceding the applicable Scheduled Interest Payment Date. Unless otherwise instructed by Payment, the Company shall direct the Escrow Agent in writing pursuant to the form of notice attached hereto as Exhibit A (upon which the Escrow Agent may conclusively rely) to transfer from the Escrow Account to the Trustee one funds (1) Business Day prior or Permitted Securities that are scheduled to mature or that can be liquidated on or before the date of the applicable Scheduled Interest Payment Date, not later than 10:00 a.m., New York time, on the applicable Scheduled Interest Payment Date, the Escrow Agent shall debit the Escrow Account and credit to the account of the Trustee as set forth Payment) in Section 4(e)(ii) hereof funds a specified amount necessary to provide for payment in full (or, if the Company intends to make a portion of such interest payment with funds or Permitted Securities in the Escrow Account and the remainder of such interest payment with funds other than those in the Escrow Account, such portion) of the next Scheduled Interest Payment on the Notes. At or prior to 1:00 p.m., New York City time, on the day that is no later than one (1) Business Day following receipt of such notice, the Escrow Agent shall transfer such funds (or such Permitted Securities, as applicable) to the Paying Agent as set forth in Section 4(d)(ii) hereof, and shall notify the Company in writing that it has made such transfer to the Paying Agent. If the Company does not intend to utilize the funds (or Permitted Securities) in the Escrow Account to make any such Scheduled Interest Payment in full, or does not direct the Escrow Agent in writing to make any such Scheduled Interest Payment, then the Company shall make the Scheduled Interest Payment from Company Funds (as defined in Section 4(b)(ii) below). (ii) If the Company makes any Scheduled Interest Payment or a portion of any Scheduled Interest Payment from a source of funds other than the Escrow Account (“ Company Funds “), the Company may, after payment in full of such Scheduled Interest Payment and upon at least five (5) Business Days’ prior notice, direct the Escrow Agent in writing pursuant to the form of notice attached hereto as Exhibit A (upon which the Escrow Agent may conclusively rely), so long as no Event of Default has occurred and is continuing, to release to the Company (or at the direction of the Company, to release to a designated third party) an amount of funds or Permitted Securities from the Escrow Account, the sum of the cumulative interest payments which is less than or equal to the amount of Company Funds so expended in making the Scheduled Interest Payment. Upon receipt of such notice, the Escrow Agent shall pay over or transfer to the Company the requested amount.

Scheduled Interest Payments. (i) Pursuant to the Notes and Section 5.01 of the First Supplemental IndentureNotes, the Company is obligated to make payments of interest (excluding any Additional Interest, Reserve Interest and Qualifying Tender Offer Interest, if applicable) on the Notes on each of September 15, 2010, March 15, 2011, September 15, 2011, March 15, 2012, September 15, 2012, March 15, 2013, September 15, 2013 and March 15, 2014 (each, a “Scheduled Interest Payment”) on the Notes on each of October 15, 2008, April 15, 2009, October 15, 2009, April 15, 2010, October 15, 2010 and April 15, 2011 (each, a “Scheduled Interest Payment Date”). The Scheduled Interest Payments due on the Notes shall are to be made made, at the election of the Company, from (1) amounts held in the Escrow Account in accordance with the procedures set forth in Section 4(b)(i) below or (2) other sources of funds available to the Company, as anticipated in Section 4(b)(ii) below, or from any combination of (1) and (2) above; provided, however, that nothing herein shall be construed as limiting the Company’s obligation to make all interest payments due on the Notes at the times and in the amounts required by the Notes, which obligation shall be absolute and unconditional. (iii) If the Company determines that Government Securities held in the Escrow Account will have elects to be liquidated in order for cause a Scheduled Interest Payment to be mademade using funds held in the Escrow Account, the Company shallthen, not later than five (5) Business Days prior to the applicable Scheduled Interest Payment Date, so notify the Escrow Agent and identify, in a written direction to the Escrow Agent, the particular Government Securities to be liquidated. The Escrow Agent shall liquidate the Government Securities so identified such that the proceeds date of such sale shall be received by the Escrow Agent not later than the Business Day immediately preceding the applicable Scheduled Interest Payment Date. Unless otherwise instructed by Payment, the Company shall direct the Escrow Agent in writing pursuant to the form of notice attached hereto as Exhibit A (upon which the Escrow Agent may conclusively rely) to transfer from the Escrow Account to the Trustee one funds (1) Business Day prior or Permitted Securities that are scheduled to mature or that can be liquidated on or before the date of the applicable Scheduled Interest Payment Date, not later than 10:00 a.m., New York time, on the applicable Scheduled Interest Payment Date, the Escrow Agent shall debit the Escrow Account and credit to the account of the Trustee as set forth Payment) in Section 4(e)(ii) hereof funds a specified amount necessary to provide for payment in full (or, if the Company intends to make a portion of such interest payment with funds or Permitted Securities in the Escrow Account and the remainder of such interest payment with funds other than those in the Escrow Account, such portion) of the next Scheduled Interest Payment on the Notes. At or prior to 1:00 p.m., New York City time, on the day that is no later than one (1) Business Day following receipt of such notice, the Escrow Agent shall transfer such funds (or such Permitted Securities, as applicable) to the Paying Agent as set forth in Section 4(d)(ii) hereof, and shall notify the Company in writing that it has made such transfer to the Paying Agent. If the Company does not intend to utilize the funds (or Permitted Securities) in the Escrow Account to make any such Scheduled Interest Payment in full, or does not direct the Escrow Agent in writing to make any such Scheduled Interest Payment, then the Company shall make the Scheduled Interest Payment from Company Funds (as defined in Section 4(b)(ii) below). (ii) If the Company makes any Scheduled Interest Payment or a portion of any Scheduled Interest Payment from a source of funds other than the Escrow Account (“Company Funds “), the Company may, after payment in full of such Scheduled Interest Payment and upon at least five (5) Business Days’ prior notice, direct the Escrow Agent in writing pursuant to the form of notice attached hereto as Exhibit A (upon which the Escrow Agent may conclusively rely), so long as no Event of Default has occurred and is continuing, to release to the Company (or at the direction of the Company, to release to a designated third party) an amount of funds or Permitted Securities from the Escrow Account, the sum of the cumulative interest payments which is less than or equal to the amount of Company Funds so expended in making the Scheduled Interest Payment. Upon receipt of such notice, the Escrow Agent shall pay over or transfer to the Company the requested amount.