Common use of Sears Rxxxxxx Acceptance Corp Clause in Contracts

Sears Rxxxxxx Acceptance Corp. 6.70% Note due November 15, 2006 6.70% 6.70% Due 2006 Due 2006 Sears Rxxxxxx Acceptance Corp., a corporation organized and existing under the laws of the State of Delaware (hereinafter called the "Company"), for value received, hereby promises to pay to , or registered assigns, the principal sum of Dollars upon presentation and surrender of this Note, on the fifteenth day of November, 2006, at the office or agency of the Company in the Borough of Manhattan in The City of New York or, at the option of the holder hereof, such office or agency, if any, maintained by the Company in the city in which the principal executive offices of the Company are located or the city in which the principal corporate trust office of the Trustee is located, in such coin or currency of the United States of America as at the time of payment is legal tender for public and private debts, and to pay interest on said principal sum at the rate of 6.70% per annum, either, at the option of the Company, by check mailed to the address of the person entitled thereto as such address shall appear on the Security Register or at either of such offices or agencies, in like coin or currency, from the May 15 or November 15, as the case may be, next preceding the date hereof to which interest has been paid on the Notes referred to on the reverse hereof (unless the date hereof is the date to which interest has been paid on such Notes, in which case from the date hereof, or unless the date hereof is prior to May 15, 1997, in which case from November 25, 1996), semiannually, commencing on May 15, 1997, on May 15 and November 15, until payment of said principal sum has been made or duly provided for. Notwithstanding the foregoing, if this Note is dated after any May 1 and before the following May 15, or after any November 1 and before the following November 15, then this Note shall bear interest from such following May 15 or November 15, provided, however, that if the Company shall default in the payment of interest due on such following May 15 or November 15, this Note shall bear interest from the next preceding May 15 or November 15 to which interest has been paid on such Notes, or if no interest has been paid on such Notes, then from November 25, 1996. The interest so payable on any May 15 or November 15 will, subject to certain exceptions provided in the Indenture referred to on the reverse hereof, be paid to the person in whose name this Note is registered at the close of business on the May 1 prior to such May 15 or the November 1 prior to such November 15. Any such interest not so punctually paid or duly provided for shall forthwith cease to be payable to the registered holder on such Interest Payment Date, and may be paid to the Person in whose name this Note is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice of which shall be given to Noteholders not less than 10 days prior to such Special Record Date, or may be paid, at any time in any other lawful manner, all as more fully provided in such Indenture. Reference is hereby made to the further provisions of this Note set forth on the reverse hereof, and such further provisions shall for all purposes have the same effect as though fully set forth at this place. This Note shall not be entitled to any benefit under the Indenture referred to on the reverse hereof or any indenture supplemental thereto, or become valid or obligatory for any purpose, until the certificate of authentication hereon shall have been signed by or on behalf of the Trustee under such Indenture.

Sears Rxxxxxx Acceptance Corp. 6.70% Note due November 15, 2006 6.70% 6.70% Due 2006 Due 2006 Sears Rxxxxxx Acceptance Corp., a corporation organized and existing under the laws of the State of Delaware (hereinafter called the "Company"), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the principal sum of Two Hundred Million Dollars ($200,000,000) upon presentation and surrender of this Note, on the fifteenth twenty-third day of NovemberOctober, 20062038, at the office or agency of the Company in the Borough of Manhattan in of The City of New York or, at the option of the holder hereof, such office or agency, if any, maintained by the Company in the city in which the principal executive offices of the Company are located or the city in which the principal corporate trust office of the Trustee is located, in such coin or currency of the United States of America as at the time of payment is legal tender for public and private debts, and to pay interest on said principal sum at the rate of 6.706.95% per annum, either, at the option of the Company, by check mailed to the address of the person entitled thereto as such address shall appear on the Security Register or at either of such offices or agencies, in like coin or currency, from the May 15 January 23, April 23, July 23 or November 15October 23, as the case may be, next preceding the date hereof to which interest has been paid on the Notes referred to on the reverse hereof (unless the date hereof is the date to which interest has been paid on such Notes, in which case from the date hereof, or unless the date hereof is prior to May 15January 23, 19971999, in which case from November 25October 23, 19961998), semiannuallyquarterly, commencing on May 15January 23, 19971999, on May 15 January 23, April 23, July 23 and November 15October 23, until payment of said principal sum has been made or duly provided for. Notwithstanding the foregoing, if this Note is dated after any May 1 January 8 and before the following May 15January 23, or after any November 1 April 8 and before the following November 15April 23, or after any July 8 and before the following July 23, or after any October 8 and before the following October 23, then this Note shall bear interest from such following May 15 January 23, April 23, July 23 or November 15October 23, as applicable, provided, however, that if the Company shall default in the payment of interest due on such following May 15 January 23, April 23, July 23 or November 15October 23, this Note shall bear interest from the next preceding May 15 January 23, April 23, July 23 or November 15 October 23 to which interest has been paid on such NotesNote, or if no interest has been paid on such NotesNote, then from November 25October 23, 19961998. The interest so payable on any May 15 January 23, April 23, July 23 or November 15 October 23, will, subject to certain exceptions provided in the Indenture referred to on the reverse hereof, be paid to the person in whose name this Note is registered at the close of business on the May 1 January 8 prior to such May 15 or January 23, the November 1 April 8 prior to such November 15April 23, the July 8 prior to such July 23, or the October 8 prior to such October 23. Any such interest not so punctually paid or duly provided for shall forthwith cease to be payable to the registered holder on such Interest Payment Date, and may be paid to the Person in whose name this Note is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice of which shall be given to Noteholders not less than 10 days prior to such Special Record Date, or may be paid, at any time in any other lawful manner, all as more fully provided in such Indenture. Reference This Note is hereby made subject to redemption, at the option of the Company, on each October 23, January 23, April 23 and July 23, commencing on October 23, 2003, as a whole or from time to time in part, upon not less than 30 nor more than 60 days' notice, at a redemption price equal to 100% of the principal amount redeemed plus accrued and unpaid interest to the further provisions of date fixed for redemption. In addition, this Note set forth on is subject to redemption, at the reverse hereofoption of the Company, in whole but not in part, at any time upon not less than 30 nor more than 60 days' notice, at a redemption price equal to 100% of the principal amount redeemed plus accrued and such further provisions shall unpaid interest to the date fixed for all purposes have redemption, if there is a substantial likelihood that the same effect as though fully set forth at this place. This Note shall Company will not be entitled to any benefit under deduct currently for United States federal income tax purposes the Indenture referred to on the reverse hereof or any indenture supplemental thereto, or become valid or obligatory for any purpose, until the certificate full amount of authentication hereon shall have been signed by or on behalf interest accrued in respect of the Trustee under such Indenture.Note as a result of any of the following occurring, becoming effective or being issued after October 22, 1998:

Sears Rxxxxxx Acceptance Corp. 6.70% Note due November 15, 2006 6.70% 6.70% Due 2006 Due 2006 Sears Rxxxxxx Acceptance Corp., a corporation organized and existing under the laws of the State of Delaware (hereinafter called the "Company"), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the principal sum of Fifty Million Dollars ($50,000,000) upon presentation and surrender of this Note, on the fifteenth twenty-third day of NovemberOctober, 20062038, at the office or agency of the Company in the Borough of Manhattan in of The City of New York or, at the option of the holder hereof, such office or agency, if any, maintained by the Company in the city in which the principal executive offices of the Company are located or the city in which the principal corporate trust office of the Trustee is located, in such coin or currency of the United States of America as at the time of payment is legal tender for public and private debts, and to pay interest on said principal sum at the rate of 6.706.95% per annum, either, at the option of the Company, by check mailed to the address of the person entitled thereto as such address shall appear on the Security Register or at either of such offices or agencies, in like coin or currency, from the May 15 January 23, April 23, July 23 or November 15October 23, as the case may be, next preceding the date hereof to which interest has been paid on the Notes referred to on the reverse hereof (unless the date hereof is the date to which interest has been paid on such Notes, in which case from the date hereof, or unless the date hereof is prior to May 15January 23, 19971999, in which case from November 25October 23, 19961998), semiannuallyquarterly, commencing on May 15January 23, 19971999, on May 15 January 23, April 23, July 23 and November 15October 23, until payment of said principal sum has been made or duly provided for. Notwithstanding the foregoing, if this Note is dated after any May 1 January 8 and before the following May 15January 23, or after any November 1 April 8 and before the following November 15April 23, or after any July 8 and before the following July 23, or after any October 8 and before the following October 23, then this Note shall bear interest from such following May 15 January 23, April 23, July 23 or November 15October 23, as applicable, provided, however, that if the Company shall default in the payment of interest due on such following May 15 January 23, April 23, July 23 or November 15October 23, this Note shall bear interest from the next preceding May 15 January 23, April 23, July 23 or November 15 October 23 to which interest has been paid on such NotesNote, or if no interest has been paid on such NotesNote, then from November 25October 23, 19961998. The interest so payable on any May 15 January 23, April 23, July 23 or November 15 October 23, will, subject to certain exceptions provided in the Indenture referred to on the reverse hereof, be paid to the person in whose name this Note is registered at the close of business on the May 1 January 8 prior to such May 15 or January 23, the November 1 April 8 prior to such November 15April 23, the July 8 prior to such July 23, or the October 8 prior to such October 23. Any such interest not so punctually paid or duly provided for shall forthwith cease to be payable to the registered holder on such Interest Payment Date, and may be paid to the Person in whose name this Note is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice of which shall be given to Noteholders not less than 10 days prior to such Special Record Date, or may be paid, at any time in any other lawful manner, all as more fully provided in such Indenture. Reference This Note is hereby made subject to redemption, at the option of the Company, on each October 23, January 23, April 23 and July 23, commencing on October 23, 2003, as a whole or from time to time in part, upon not less than 30 nor more than 60 days' notice, at a redemption price equal to 100% of the principal amount redeemed plus accrued and unpaid interest to the further provisions of date fixed for redemption. In addition, this Note set forth on is subject to redemption, at the reverse hereofoption of the Company, in whole but not in part, at any time upon not less than 30 nor more than 60 days' notice, at a redemption price equal to 100% of the principal amount redeemed plus accrued and such further provisions shall unpaid interest to the date fixed for all purposes have redemption, if there is a substantial likelihood that the same effect as though fully set forth at this place. This Note shall Company will not be entitled to any benefit under deduct currently for United States federal income tax purposes the Indenture referred to on the reverse hereof or any indenture supplemental thereto, or become valid or obligatory for any purpose, until the certificate full amount of authentication hereon shall have been signed by or on behalf interest accrued in respect of the Trustee under such Indenture.Note as a result of any of the following occurring, becoming effective or being issued after October 22, 1998:

Sears Rxxxxxx Acceptance Corp. 6.70% Note due November 15, 2006 6.70% 6.70% Due 2006 Due 2006 Sears Rxxxxxx Acceptance Corp., a corporation organized and existing under the laws of the State of Delaware (hereinafter called the "Company"), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the principal sum of Dollars __________________ dollars ($_________________) upon presentation and surrender of this Note, on the fifteenth twenty-third day of NovemberOctober, 20062038, at the office or agency of the Company in the Borough of Manhattan in of The City of New York or, at the option of the holder hereof, such office or agency, if any, maintained by the Company in the city in which the principal executive offices of the Company are located or the city in which the principal corporate trust office of the Trustee is located, in such coin or currency of the United States of America as at the time of payment is legal tender for public and private debts, and to pay interest on said principal sum at the rate of 6.706.95% per annum, either, at the option of the Company, by check mailed to the address of the person entitled thereto as such address shall appear on the Security Register or at either of such offices or agencies, in like coin or currency, from the May 15 January 23, April 23, July 23 or November 15October 23, as the case may be, next preceding the date hereof to which interest has been paid on the Notes referred to on the reverse hereof (unless the date hereof is the date to which interest has been paid on such Notes, in which case from the date hereof, or unless the date hereof is prior to May 15January 23, 19971999, in which case from November 25October 23, 19961998), semiannuallyquarterly, commencing on May 15January 23, 19971999, on May 15 January 23, April 23, July 23 and November 15October 23, until payment of said principal sum has been made or duly provided for. Notwithstanding the foregoing, if this Note is dated after any May 1 January 8 and before the following May 15January 23, or after any November 1 April 8 and before the following November 15April 23, or after any July 8 and before the following July 23, or after any October 8 and before the following October 23, then this Note shall bear interest from such following May 15 January 23, April 23, July 23 or November 15October 23, as applicable, provided, however, that if the Company shall default in the payment of interest due on such following May 15 January 23, April 23, July 23 or November 15October 23, this Note shall bear interest from the next preceding May 15 January 23, April 23, July 23 or November 15 October 23 to which interest has been paid on such NotesNote, or if no interest has been paid on such NotesNote, then from November 25October 23, 19961998. The interest so payable on any May 15 January 23, April 23, July 23 or November 15 October 23, will, subject to certain exceptions provided in the Indenture referred to on the reverse hereof, be paid to the person in whose name this Note is registered at the close of business on the May 1 January 8 prior to such May 15 or January 23, the November 1 April 8 prior to such November 15April 23, the July 8 prior to such July 23, or the October 8 prior to such October 23. Any such interest not so punctually paid or duly provided for shall forthwith cease to be payable to the registered holder on such Interest Payment Date, and may be paid to the Person in whose name this Note is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice of which shall be given to Noteholders not less than 10 days prior to such Special Record Date, or may be paid, at any time in any other lawful manner, all as more fully provided in such Indenture. Reference This Note is hereby made subject to redemption, at the option of the Company, on each October 23, January 23, April 23 and July 23, commencing on October 23, 2003, as a whole or from time to time in part, upon not less than 30 nor more than 60 days' notice, at a redemption price equal to 100% of the principal amount redeemed plus accrued and unpaid interest to the further provisions of date fixed for redemption. In addition, this Note set forth on is subject to redemption, at the reverse hereofoption of the Company, in whole but not in part, at any time upon not less than 30 nor more than 60 days' notice, at a redemption price equal to 100% of the principal amount redeemed plus accrued and such further provisions shall unpaid interest to the date fixed for all purposes have redemption, if there is a substantial likelihood that the same effect as though fully set forth at this place. This Note shall Company will not be entitled to any benefit under deduct currently for United States federal income tax purposes the Indenture referred to on the reverse hereof or any indenture supplemental thereto, or become valid or obligatory for any purpose, until the certificate full amount of authentication hereon shall have been signed by or on behalf interest accrued in respect of the Trustee under such Indenture.Note as a result of any of the following occurring, becoming effective or being issued after October 22, 1998: