Common use of SECTION 1303. Covenant Defeasance Clause in Contracts

SECTION 1303. Covenant Defeasance. Upon the Company’s exercise of its option, if any, to have this Section 1303 applied to any Securities or any series of Securities, or if this Section 1303 shall otherwise apply to any Securities or any series of Securities, (1) the Company and the Guarantors shall be released from their respective obligations under Section 801 and any covenants provided which were made a part of the terms of the Securities of such series in accordance with Section 301(18), Section 901(1) or Section 901(12) for the benefit of the Holders of such Securities and (2) the occurrence of any event specified in Section 501(4) and Section 501(8) shall be deemed not to be or result in an Event of Default, in each case with respect to such Securities and Guarantees as provided in this Section 1303 on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called “Covenant Defeasance”). For this purpose, such Covenant Defeasance means that, with respect to such Securities and Guarantees, each of the Company and the Guarantors may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such specified Section, whether directly or indirectly by reason of any reference elsewhere herein to any such Section or by reason of any reference in any such Section to any other provision herein or in any other document, but the remainder of this Indenture and such Securities and Guarantees shall be unaffected thereby.

SECTION 1303. Covenant Defeasance. Upon the Company’s 's exercise of its option, option (if any, ) to have this Section 1303 applied to any Securities or any series of Securities, or if this Section 1303 shall otherwise apply to any Securities or any series of Securitiesas the case may be, (1a) the Company and the Guarantors shall be released from their respective its obligations under clause (c) of Section 801 801, Sections 1006 through 1008, inclusive, and any covenants provided which were made a part pursuant to clause (r) of the terms of the Securities of such series in accordance with Section 301(18), Section 901(1301 or clause (b) or (g) of Section 901(12) 901 for the benefit of the Holders of such Securities Securities, and (2b) the occurrence of any event specified in clause (d) of Section 501(4501 (with respect to any of clause (c) of Section 801, Sections 1006 through 1008, inclusive, and any such covenants provided pursuant to clause (r) of Section 501(8301 or clause (b) or (g) of Section 901 shall be deemed not to be or result in an Event of Default, and (c) the provisions of Article Fourteen shall cease to be effective, in each case with respect to such Securities and Guarantees as provided in this Section 1303 on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called “"Covenant Defeasance”"). For this purpose, such Covenant Defeasance means that, with respect to such Securities and GuaranteesSecurities, each of the Company and the Guarantors may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such specified SectionSection (to the extent so specified in the case of clause (d) of Section 501) or Article Fourteen, whether directly or indirectly by reason of any reference elsewhere herein to any such Section or Article or by reason of any reference in any such Section or Article to any other provision herein or in any other document, but the remainder of this Indenture and such Securities and Guarantees shall be unaffected thereby.

SECTION 1303. Covenant Defeasance. Upon the Company’s exercise of its option, option (if any, ) to have this Section 1303 applied to any Securities or any series of Securities, or if this Section 1303 shall otherwise apply to any Securities or any series of Securitiesas the case may be, (1) the Company and the Guarantors shall be released from their respective its obligations under Section 801 1004 and any covenants provided which were made a part of the terms of the Securities of such series in accordance with pursuant to Section 301(18), Section 901(1901(2), Section 901(6) or Section 901(12901(7) for the benefit of the Holders of such Securities and (2) the occurrence of any event specified in Section 501(4) (with respect to Section 1004 and any such covenants provided pursuant to Section 301(18), Section 901(2), Section 901(6) or Section 901(7) and Section 501(8) shall be deemed not to be or result in an Event of Default, in each case with respect to such Securities and Guarantees as provided in this Section 1303 on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called “Covenant Defeasance”)). For this purpose, such Covenant Defeasance means that, with respect to such Securities and GuaranteesSecurities, each of the Company and the Guarantors any Guarantor may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such specified SectionSection (to the extent so specified in the case of Section 501(4)), whether directly or indirectly by reason of any reference elsewhere herein to any such Section or by reason of any reference in any such Section to any other provision herein or in any other document, but the remainder of this Indenture and such Securities and Guarantees thereof shall be unaffected thereby. If the Company exercises its Covenant Defeasance option, payment of the Securities may not be accelerated because of, and a default or Event of Default shall be deemed not to exist as a result of or to arise out of, an Event of Default with respect to the failure of the Company to comply with any covenants provided pursuant to Section 301(18), Section 901(2), Section 901(6) or Section 901(7). Upon the effectiveness of Covenant Defeasance with respect to any series of Securities, each Guarantor of the Securities of such series shall be automatically and unconditionally released and discharged from all of its obligations under its Guarantee of the Securities of such series and all of its other obligations under this Indenture in respect of the Securities of such series, without any action by the Company, any Guarantor or the Trustee and without the consent of the Holders of any Securities.

SECTION 1303. Covenant Defeasance. Upon the Company’s exercise of its option, the option (if any, ) to have this Section 1303 applied to any Securities or any series of Securities, or if this Section 1303 shall otherwise apply to any Securities or any series of Securitiesas the case may be, (1) the Company and the Guarantors Guarantor shall be released from their respective obligations under Sections 801, 1006, 1009, 1010, 1011 and 1013 and any other Sections or covenants applicable to such Securities that are determined pursuant to Section 801 301 to be subject to this provision), and any covenants provided which were made a part of the terms of the Securities of such series in accordance with pursuant to Section 301(18301(s), Section 901(1901(b) or Section 901(12901(g) for the benefit of the Holders of such Securities Securities, and (2) the occurrence of any event specified in Section 501(4501(d) (with respect to Sections 801, 1006, 1009, 1010, 1011 and 1013 and any other Sections or covenants applicable to such Securities that are determined pursuant to Section 301 to be subject to this provision, and any such covenants provided pursuant to Sections 301(s), 901(b) or 901(g)) and Section 501(8501(g) shall be deemed not to be or result in an Event of Default, in each case with respect to such Securities and Guarantees as provided in this Section 1303 on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called “Covenant Defeasance”). For this purpose, such Covenant Defeasance means that, with respect to such Securities and GuaranteesSecurities, each of the Company and the Guarantors Guarantor may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such specified SectionSection (to the extent so specified in the case of Section 501(d)), whether directly or indirectly by reason of any reference elsewhere herein to any such Section or Article or by reason of any reference in any such Section or Article to any other provision herein or in any other document, but the remainder of this Indenture and such Securities and Guarantees shall be unaffected thereby.

SECTION 1303. Covenant Defeasance. Upon the Company’s 's exercise of its option, option (if any, ) to have this Section 1303 applied to any Securities or any series of Securities, or if this Section 1303 shall otherwise apply to any Securities or any series of Securitiesas the case may be, (1a) the Company and the Guarantors shall be released from their respective its obligations under clause (c) of Section 801 801, Sections 1006 through 1008, inclusive, and any covenants provided which were made a part pursuant to clause (r) of the terms of the Securities of such series in accordance with Section 301(18), Section 901(1301 or clause (b) or (g) of Section 901(12) 901 for the benefit of the Holders of such Securities Securities; and (2b) the occurrence of any event specified in clause (d) of Section 501(4501 (with respect to any of clause (c) of Section 801, Sections 1006 through 1008, inclusive, and any such covenants provided pursuant to clause (r) of Section 501(8301 or clause (b) or (g) of Section 901 shall be deemed not to be or result in an Event of Default, in each case with respect to such . Securities and Guarantees as provided in this Section 1303 on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called “"Covenant Defeasance”"). For this purpose, such Covenant Defeasance means that, with respect to such Securities and GuaranteesSecurities, each of the Company and the Guarantors may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such specified SectionSection (to the extent so specified in the case of clause (d) of Section 501), whether directly or indirectly by reason of any reference elsewhere herein to any such Section or Article or by reason of any reference in any such Section or Article to any other provision herein or in any other document, but the remainder of this Indenture and such Securities and Guarantees shall be unaffected thereby.

SECTION 1303. Covenant Defeasance. Upon the Company’s exercise of its option, option (if any, ) to have this Section 1303 applied to any Securities or any series of Securities, or if this Section 1303 shall otherwise apply to any Securities or any series of Securitiesas the case may be, (1) the Company and the Guarantors shall be released from their respective its obligations under Section 801 Sections 1008 through 1010, inclusive, and any covenants provided which were made a part of the terms of the Securities of such series in accordance with Section pursuant to Sections 301(18), Section 901(1901(2) or Section 901(12901(7) for the benefit of the Holders of such Securities and (2) the occurrence of any event specified in Section Sections 501(4) (with respect to any of Sections 1008 through 1010, inclusive, and any such covenants provided pursuant to Section 501(8301(18), 901(2) or 901(7)) and 501(7) shall be deemed not to be or result in an Event of Default, in each case with respect to such Securities and Guarantees as provided in this Section 1303 on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called “Covenant Defeasance”). For this purpose, such Covenant Defeasance means that, with respect to such Securities and GuaranteesSecurities, each of the Company and the Guarantors may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such specified SectionSection (to the extent so specified in the case of Section 501(4)), whether directly or indirectly by reason of any reference elsewhere herein to any such Section or by reason of any reference in any such Section to any other provision herein or in any other document, but the remainder of this Indenture and such Securities and Guarantees shall be unaffected thereby.

SECTION 1303. Covenant Defeasance. Upon the Company’s 's exercise of its option, option (if any, ) to have this Section 1303 applied to any applicable series of Securities or any series Securities of Securitiessuch series, or if this Section 1303 shall otherwise apply to any Securities or any series of Securitiesas the case may be, (1) each of the Company and the Guarantors (with respect to Guaranteed Securities) shall be released from their respective its obligations under Section 801 801(3), Sections 1005 through 1009, inclusive, and any covenants provided which were made a part of the terms of the Securities of such series in accordance with pursuant to Section 301(18), Section 901(1901(2) or Section 901(12901(7) for the benefit of the Holders of such Securities and (2) the occurrence of any event specified in Section Sections 501(4) (with respect to any of Section 801(3), Sections 1006 through 1009, inclusive, and Section any such covenants provided pursuant to Sections 301(18), 901(2) or 901(7)), 501(5) and 501(8) shall be deemed not to be or result in an Event of Default, in each case with respect to such Securities and Guarantees as provided in this Section 1303 on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called “"Covenant Defeasance”"). For this purpose, such Covenant Defeasance means that, with respect to such Securities and GuaranteesSecurities, each of the Company and the Guarantors (with respect to Guaranteed Securities) may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such specified SectionSection (to the extent so specified in the case of Section 501(4)), whether directly or indirectly by reason of any reference elsewhere herein to any such Section or by reason of any reference in any such Section to any other provision herein or in any other document, but the remainder of this Indenture and such Securities and Guarantees shall be unaffected thereby.

SECTION 1303. Covenant Defeasance. Upon the Company’s exercise of its option, if any, to have this Section 1303 applied to any Securities or any series of Securities, or if this Section 1303 shall otherwise apply to any Securities or any series of Securities, (1) the Company and the Guarantors shall be released from their respective obligations under Section 801 and any covenants provided which were made a part of the terms of the Securities of such series in accordance with pursuant to Section 301(18), Section 901(1) or Section 901(12) for the benefit of the Holders of such Securities and (2) the occurrence of any event specified in Section 501(4) and Section 501(8) with respect to Section 801 and any such covenants provided pursuant to Section 301(18), Section 901(1) or Section 901(12) shall be deemed not to be or result in an Event of Default, in each case with respect to such Securities and Guarantees as provided in this Section 1303 on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called “Covenant Defeasance”). For this purpose, such Covenant Defeasance means that, with respect to such Securities and Guarantees, each of the Company and the Guarantors may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such specified Section, whether directly or indirectly by reason of any reference elsewhere herein to any such Section or by reason of any reference in any such Section to any other provision herein or in any other document, but the remainder of this Indenture and such Securities and Guarantees shall be unaffected thereby.

SECTION 1303. Covenant Defeasance. Upon the Company’s exercise of its option, option (if any, ) to have this Section 1303 applied to any Securities or any series of Securities, or if this Section 1303 shall otherwise apply to any Securities or any series of Securitiesas the case may be, (1) the Company and the Guarantors shall be released from their respective its obligations under Section 801 1004 and any covenants provided which were made a part of the terms of the Securities of such series in accordance with pursuant to Section 301(18), Section 901(1901(2), 901(6) or Section 901(12901(7) for the benefit of the Holders of such Securities Securities, and (2) the occurrence of any event specified in Section Sections 501(4) (with respect to Section 1004 and any such covenants provided pursuant to Section 301(18), 901(2), 901(6) or 901(7)) and 501(8) shall be deemed not to be or result in an Event of Default, in each case with respect to such Securities and Guarantees as provided in this Section 1303 on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called “Covenant Defeasance”). For this purpose, such Covenant Defeasance means that, with respect to such Securities and GuaranteesSecurities, each of the Company and the Guarantors any Guarantor may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such specified SectionSection (to the extent so specified in the case of Section 501(4)), whether directly or indirectly by reason of any reference elsewhere herein to any such Section or by reason of any reference in any such Section to any other provision herein or in any other document, but the remainder of this Indenture and such Securities and any Guarantees thereof shall be unaffected thereby.

SECTION 1303. Covenant Defeasance. Upon the Company’s 's exercise of its option, if any, to have this Section 1303 applied to any Securities or any series of Securities, as the case may be, or if this Section 1303 shall otherwise apply to any Securities or any series of Securities, as the case may be, (1) the Company and the Guarantors shall be released from their respective its obligations under Section 801 and any covenants provided which were made a part of the terms of the Securities of such series in accordance with pursuant to Section 1005, Section 1006, Section 1007, Section 1008, Section 1009 and Section 1012, and any additional covenants provided under Section 301(18), Section 901(1) or Section 901(12) and Article IX for the benefit of the Holders of such Securities and (2) the occurrence of any event specified in Section 501(4) and Section 501(8501(11) shall be deemed not to be or result in an Event of Default, in each case with respect to such Securities and Guarantees as provided in this Section 1303 on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called “"Covenant Defeasance”"). For this purpose, such Covenant Defeasance means that, with respect to such Securities and GuaranteesSecurities, each of the Company and the Guarantors may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such specified Section, whether directly or indirectly by reason of any reference elsewhere herein to any such Section or by reason of any reference in any such Section to any other provision herein or in any other document, but the remainder of this Indenture and such Securities and Guarantees shall be unaffected thereby.

SECTION 1303. Covenant Defeasance. Upon the Company’s exercise of its option, option (if any, ) to have this Section 1303 applied to any Securities or any series of Securities, or if this Section 1303 shall otherwise apply to any Securities or any series of Securitiesas the case may be, (1a) the Company and the Guarantors shall be released from their respective its obligations under clause (c) of Section 801 and any covenants provided which were made a part pursuant to clause (r) of the terms of the Securities of such series in accordance with Section 301(18)301, Section 901(11005 or clause (b) or (g) of Section 901(12) 901 for the benefit of the Holders of such Securities and Securities, (2b) the occurrence of any event specified in clause (d) of Section 501(4501 (with respect to any of clause (c) of Section 801 and any such covenants provided pursuant to clause (r) of Section 501(8301, Section 1005 or clause (b) or (g) of Section 901) or clause (e) of Section 501 shall be deemed not to be or result in an Event of Default, and (c) the provisions of Article Fourteen shall cease to be effective, in each case with respect to such Securities and Guarantees as provided in this Section 1303 on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called “Covenant Defeasance”). For this purpose, such Covenant Defeasance means that, with respect to such Securities and GuaranteesSecurities, each of the Company and the Guarantors may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such specified SectionSection (to the extent so specified in the case of clause (d) of Section 501) or Article Fourteen, whether directly or indirectly by reason of any reference elsewhere herein to any such Section or Article or by reason of any reference in any such Section or Article to any other provision herein or in any other document, but the remainder of this Indenture and such Securities and Guarantees shall be unaffected thereby.

SECTION 1303. Covenant Defeasance. Upon the Company’s 's exercise of its option, option (if any, ) to have this Section 1303 applied to any Securities or any series of Securities, or if this Section 1303 shall otherwise apply to any Securities or any series of Securitiesas the case may be, (1) the Company and the Guarantors shall be released from their respective its obligations under Section 801 801(3), Sections 1006 through 1007, inclusive, and any covenants provided which were made a part of the terms of the Securities of such series in accordance with pursuant to Section 301(18), Section 901(1901(2) or Section 901(12901(7) for the benefit of the Holders of such Securities and Outstanding Securities, (2) the occurrence of any event specified in Sections 507(e) (with respect to any of Section 501(4801(3), Sections 1006 through 1007, inclusive, and any such covenants provided pursuant to Section 301(18), 901(2) or 901(7)), 507(f) and Section 501(8501(3) shall be deemed not to be or result in a Default or an Event of DefaultDefault and (3) the provisions of Article Fourteen shall cease to be effective, in each case with respect to such Securities and Guarantees as provided in this Section 1303 on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called “"Covenant Defeasance”"). For this purpose, such Covenant Defeasance means that, with respect to such Securities and GuaranteesSecurities, each of the Company and the Guarantors may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such specified SectionSection (to the extent so specified in the case of Section 507(e)) or Article Fourteen, whether directly or indirectly by reason of any reference elsewhere herein to any such Section or Article or by reason of any reference in any such Section or Article to any other provision herein or in any other document, but the remainder of this Indenture and such Securities and Guarantees shall be unaffected thereby.

SECTION 1303. Covenant Defeasance. Upon the Company’s exercise of its option, if any, the above option applicable to have this Section 1303 applied with respect to any Securities of or any series of Securitieswithin a series, or if this Section 1303 shall otherwise apply to any Securities or any series of Securities, (1) the Company and the Guarantors Guarantor shall be released from their respective obligations under Sections 501 (5), 1005, 1006, 1007 and 1008 and, if specified pursuant to Section 801 and 301,their respective obligations under any covenants provided which were made a part of other covenant, with respect to the terms of the Outstanding Securities of such series in accordance with Section 301(18), Section 901(1) or Section 901(12) for the benefit of the Holders of such Securities and (2) the occurrence of any event specified in Section 501(4) and Section 501(8) shall be deemed not to be or result in an Event of Default, in each case with respect to such Securities and Guarantees as provided in this Section 1303 on and after the date the conditions set forth in Section 1304 below are satisfied (hereinafter called hereinafter, “Covenant Defeasancecovenant defeasance”) and such Securities shall thereafter be deemed to be not “Outstanding” for the purpose of any direction, waiver, consent or declaration or Act of Holders (and the consequences of any thereof) in connection with Sections 501 (5), 1005, 1006, 1007 and 1008 or such other covenants, but shall continue to be deemed Outstanding for all other purposes hereunder. For this purpose, such Covenant Defeasance covenant defeasance means that, with respect to the Outstanding Securities of such Securities and Guaranteesseries, each of the Company and the Guarantors Guarantor may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such specified SectionSection or such other covenant, whether directly or indirectly by reason of any reference elsewhere herein to any such Section or indirectly, by reason of any reference in any such Section to any other provision herein or in any other documentdocument and such omission to comply shall not constitute a default or an Event of Default under Sections 501 (4), but 501 (5), 501 (8) or otherwise, as the case may be, but, except as specified above, the remainder of this Indenture and such Securities and Guarantees shall be unaffected thereby.

SECTION 1303. Covenant Defeasance. Upon the Company’s exercise of its option, option (if any, ) to have this Section 1303 applied to any Securities, any tranche of Securities or any series of Securities, as the case may be, or if this Section 1303 shall otherwise apply to any Securities, any tranche of Securities or any series of Securities, as the case may be, (1) the Company and the Guarantors Guarantor shall be released from each of their respective obligations under Section 801 and any covenants provided which were made a part of the terms of the Securities of such series in accordance with pursuant to Section 301(18), Section 901(1901(2) or Section 901(12901(8) for the benefit of the Holders of such Securities Securities, and (2) the occurrence of any event specified in Section Sections 501(4) (with respect to any such covenants provided pursuant to Section 301(18), 901(2) or 901(8)) and Section 501(8) shall be deemed not to be or result in an Event of Default, in each case with respect to such Securities and Guarantees as provided in this Section 1303 on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called “Covenant Defeasance”). For this purpose, such Covenant Defeasance means that, with respect to such Securities and GuaranteesSecurities, each of the Company and the Guarantors Guarantor may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such specified SectionSection (to the extent so specified in the case of Section 501(4)), whether directly or indirectly by reason of any reference elsewhere herein to any such Section or by reason of any reference in any such Section to any other provision herein or in any other document, but the remainder of this Indenture and such Securities and Guarantees shall be unaffected thereby.

SECTION 1303. Covenant Defeasance. Upon the Company’s exercise of its option, the Issuers’ option (if any, ) to have this Section 1303 applied to any Securities or any series of Securities, or if this Section 1303 shall otherwise apply to any Securities or any series of Securitiesas the case may be, (1) the Company and the Guarantors Issuers shall be released from their respective obligations under Section 801 1004 and any covenants provided which were made a part of the terms of the Securities of such series in accordance with pursuant to Section 301(18), Section 901(1901(2), 901(6) or Section 901(12901(7) for the benefit of the Holders of such Securities and Securities, (2) the occurrence of any event specified in Section Sections 501(4) (with respect to Section 1004 and any such covenants provided pursuant to Section 301(18), 901(2), 901(6) or 901(7)) and 501(8) shall be deemed not to be or result in an Event of DefaultDefault and (3) and the provisions of Article XV (and the provisions of the last paragraph of Section 1401) shall cease to be effective, in each case with respect to such Securities and Guarantees as provided in this Section 1303 on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called “Covenant Defeasance”). For this purpose, such Covenant Defeasance means that, with respect to such Securities Securities, the Issuers and Guarantees, each of the Company and the Guarantors any Guarantor may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such specified SectionSection (to the extent so specified in the case of Section 501(4)) or Article XV or the last paragraph of Section 1401, whether directly or indirectly by reason of any reference elsewhere herein to any such Section or Article or by reason of any reference in any such Section or Article to any other provision herein or in any other document, but the remainder of this Indenture and such Securities and any Guarantees thereof shall be unaffected thereby.

SECTION 1303. Covenant Defeasance. Upon the Company’s exercise of its option, option (if any, ) to have this Section 1303 applied to any Securities or any series of Securities, or if this Section 1303 shall otherwise apply to any Securities or any series of Securitiesas the case may be, (1) the Company and the Guarantors shall be released from their respective its obligations under Section 801 801(3), Sections 1005 through 1008, inclusive, and any covenants provided which were made a part of the terms of the Securities of such series in accordance with pursuant to Section 301(18301(19), Section 901(1901(2) or Section 901(12901(7) for the benefit of the Holders of such Securities Securities, and (2) the occurrence of any event specified in Section Sections 501(4) (with respect to any of Section 801(3), Sections 1006 through 1008, inclusive, and any such covenants provided pursuant to Section 501(8301(19), 901(2) or 901(7)) shall be deemed not to be or result in an Event of DefaultDefault and (3) the provisions of Article Thirteen shall cease to be effective, in each case with respect to such Securities and Subsidiary Guarantees as provided in this Section 1303 on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter herein called “Covenant Defeasance”). For this purpose, such Covenant Defeasance means that, with respect to such Securities and GuaranteesSecurities, each of the Company and the Guarantors Subsidiary Guarantors, as applicable, may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such specified SectionSection (to the extent so specified in the case of Section 501(4)) or Article Thirteen, whether directly or indirectly by reason of any reference elsewhere herein to any such Section or Article or by reason of any reference in any such Section or Article to any other provision herein or in any other document, but the remainder of this Indenture and such Securities and Guarantees shall be unaffected thereby.

SECTION 1303. Covenant Defeasance. Upon the Company’s exercise of its optionThe Company may cause itself to be released from any covenant provided pursuant to Section 301(18), if any901(2), to have this Section 1303 applied 901(6) or 901(7) with respect to any Securities or any series of Securities, or if this Section 1303 shall otherwise apply to any Securities or any series of Securities, (1) the Company and the Guarantors shall be released from their respective obligations under Section 801 and any covenants provided which were made a part of the terms of the Securities of such series in accordance with Section 301(18), Section 901(1) or Section 901(12) for the benefit of the Holders of such Securities and (2) the occurrence of any event specified in Section Sections 501(4) and (with respect to any such covenants provide pursuant to Section 501(8301(18), 901(2), 901(6), 901(7)), 501(7) shall be deemed not to be or result in an Event of Default, in each case Default with respect to such Securities and Guarantees as provided in this Section 1303 Section, in each case on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called “"Covenant Defeasance”."). ) For this purpose, such Covenant Defeasance means that, with respect to the such Securities and GuaranteesSecurities, each of the Company and the Guarantors may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such specified Section, Section (to the extent so specified in the case of Section 501(4)) whether directly or indirectly by reason of any reference elsewhere herein to any such Section or by reason of any reference in any such Section to any other provision herein or in any other document, but the remainder of this Indenture and such Securities and Guarantees shall be unaffected thereby. Section 1304 Conditions to Defeasance or Covenant Defeasance. The following shall be the conditions precedent to application of either Section 1302 or Section 1303 to any Securities or any series of Securities, as the case may be.

SECTION 1303. Covenant Defeasance. Upon the Company’s exercise of its option, option (if any, ) to have this Section 1303 applied to any Securities or any series of Securities, or if this Section 1303 shall otherwise apply to any Securities or any series of Securitiesas the case may be, (1) the Company and the Guarantors shall be released from their respective its obligations under Section 801 801(3), Sections 1006 through 1007, inclusive, and any covenants provided which were made a part of the terms of the Securities of such series in accordance with pursuant to Section 301(18), Section 901(1901(2) or Section 901(12901(7) for the benefit of the Holders of such Securities and (2) the occurrence of any event specified in Section Sections 501(4) (with respect to any of Section 801(3), Sections 1006 through 1007, inclusive, and any such covenants provided pursuant to Section 301(18), 901(2) or 901(7)), 501(5) and 501(8) shall be deemed not to be or result in an Event of Default, in each case with respect to such Securities and Guarantees as provided in this Section 1303 on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called “Covenant Defeasance”). For this purpose, such Covenant Defeasance means that, with respect to such Securities and GuaranteesSecurities, each of the Company and the Guarantors may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such specified SectionSection (to the extent so specified in the case of Section 501(4)), whether directly or indirectly by reason of any reference elsewhere herein to any such Section or by reason of any reference in any such Section to any other provision herein or in any other document, but the remainder of this Indenture and such Securities and Guarantees shall be unaffected thereby.

SECTION 1303. Covenant Defeasance. Upon the Company’s exercise of its option, option (if any, ) to have this Section 1303 applied to any Securities or any series of Securities, or if this Section 1303 shall otherwise apply to any Securities or any series of Securitiesas the case may be, (1) the Company and the Guarantors shall be released from their respective its obligations under Section 801 1004 and any covenants provided which were made a part of the terms of the Securities of such series in accordance with pursuant to Section 301(18), Section 901(1901(2), 901(6) or Section 901(12901(7) for the benefit of the Holders of such Securities and Securities, (2) the occurrence of any event specified in Section Sections 501(4) (with respect to Section 1004 and any such covenants provided pursuant to Section 301(18), 901(2), 901(6) or 901(7)) and 501(8) shall be deemed not to be or result in an Event of Default, and (3) the provisions of Article XV (and the provisions of the last paragraph of Section 1401) shall cease to be effective, in each case with respect to such Securities and Guarantees as provided in this Section 1303 on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called “Covenant Defeasance”). For this purpose, such Covenant Defeasance means that, with respect to such Securities and GuaranteesSecurities, each of the Company [if applicable, insert – and the Guarantors any Guarantor] may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such specified SectionSection (to the extent so specified in the case of Section 501(4)) or Article XV or the last paragraph of Section 1401, whether directly or indirectly by reason of any reference elsewhere herein to any such Section or by reason of any reference in any such Section to any other provision herein or in any other document, but the remainder of this Indenture and such Securities [if applicable, insert – and Guarantees any Guarantees] thereof shall be unaffected thereby.

SECTION 1303. Covenant Defeasance. Upon the Company’s exercise of its option, option (if any, ) to have this Section 1303 applied to any Securities or any series of Securities, or if this Section 1303 shall otherwise apply to any Securities or any series of Securitiesas the case may be, (1) the Company and the Guarantors shall be released from their respective its obligations under Section 801 1004 and any covenants provided which were made a part of the terms of the Securities of such series in accordance with pursuant to Section 301(18), Section 901(1901(2), 901(6) or Section 901(12901(8) for the benefit of the Holders of such Securities and (2) the occurrence of any event specified in Section Sections 501(4) (with respect to Section 1004 and any such covenants provided pursuant to Section 501(8301(18), 901(2), 901(6) or 901(7)) and 501(7) shall be deemed not to be or result in an Event of Default, in each case with respect to such Securities and Guarantees as provided in this Section 1303 on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called “Covenant Defeasance”). For this purpose, such Covenant Defeasance means that, with respect to such Securities and GuaranteesSecurities, each of the Company and the Guarantors may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such specified SectionSection (to the extent so specified in the case of Section 501(4)), whether directly or indirectly by reason of any reference elsewhere herein to any such Section or by reason of any reference in any such Section to any other provision herein or in any other document, but the remainder of this Indenture and such Securities and Guarantees thereof shall be unaffected thereby.

SECTION 1303. Covenant Defeasance. Upon the Company’s exercise of its option, if any, option to have this Section 1303 applied to any Securities or any series of Securities, or if this Section 1303 shall otherwise apply to any Securities or any series of Securitiesthe Notes, (1) the Company and the Guarantors shall be released from their respective its obligations under Section 801 and any covenants provided which were made a part of the terms of the Securities of such series in accordance with Section 301(18801(4), Section 901(1) or 1006, Sections 1010 through 1018, inclusive, and Section 901(12) for the benefit of the Holders of such Securities and 1021; (2) the occurrence of any event specified in Sections 501(3) (with respect only to the obligations under Section 501(4801(4) and Section 501(8Sections 1010 and 1015), 501(4), 501(5), 501(6), 501(7), 501(9) (with respect only to Significant Subsidiaries) or 501(10) (with respect only to Significant Subsidiaries), shall be deemed not to be or to result in an Event of DefaultDefault and (3) the Guarantees shall be automatically released, in each case with respect to such Securities and Guarantees Notes as provided in this Section 1303 on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called “Covenant Defeasance”). For this purpose, such Covenant Defeasance means that, with respect to such Securities and GuaranteesNotes, each of the Company and the Guarantors may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such specified Section, whether directly or indirectly by reason of any reference elsewhere herein to any such Section or Article or by reason of any reference in any such Section or Article to any other provision herein or in any other document, but the remainder of this Indenture and such Securities and Guarantees Notes shall be unaffected thereby.

SECTION 1303. Covenant Defeasance. Upon the Company’s exercise of its option, option (if any, ) to have this Section 1303 applied to any Securities or any series of Securities, or if this Section 1303 shall otherwise apply to any Securities or any series of Securitiesas the case may be, (1) the Company and the Guarantors shall be released from their respective its obligations under Section 801 1004 and any covenants provided which were made a part of the terms of the Securities of such series in accordance with pursuant to Section 301(18), Section 901(1901(2), 901(6) or Section 901(12901(7) for the benefit of the Holders of such Securities and (2) the occurrence of any event specified in Section Sections 501(4) (with respect to Section 1004 and any such covenants provided pursuant to Section 301(18), 901(2), 901(6) or 901(7)) and 501(8) shall be deemed not to be or result in an Event of Default, in each case with respect to such Securities and Guarantees as provided in this Section 1303 on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called “Covenant Defeasance”). For this purpose, such Covenant Defeasance means that, with respect to such Securities and GuaranteesSecurities, each of the Company [if applicable, insert – and the Guarantors any Guarantor] may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such specified SectionSection (to the extent so specified in the case of Section 501(4)), whether directly or indirectly by reason of any reference elsewhere herein to any such Section or by reason of any reference in any such Section to any other provision herein or in any other document, but the remainder of this Indenture and such Securities [if applicable, insert – and Guarantees any Guarantees] thereof shall be unaffected thereby.

SECTION 1303. Covenant Defeasance. Upon The Company and any other obligor shall be released on the Company’s exercise 91st day after the date of its option, if any, the deposit referred to have this Section 1303 applied to any Securities or any series of Securities, or if this Section 1303 shall otherwise apply to any Securities or any series of Securities, in Clause (1) the Company and the Guarantors shall be released below from their respective its obligations under Section Sections 704 and 801 and any covenants provided which were made a part of the terms of with respect to the Securities of such any series in accordance with Section 301(18), Section 901(1) or Section 901(12) for the benefit of the Holders of such Securities and (2) the occurrence of any event specified in Section 501(4) and Section 501(8) shall be deemed not to be or result in an Event of Default, in each case with respect to such Securities and Guarantees as provided in this Section 1303 on and after the date the conditions set forth in Section 1304 below are satisfied (hereinafter called hereinafter, “Covenant Defeasancecovenant defeasance”), and the Securities of such series shall thereafter be deemed to be not “Outstanding” for the purposes of any request, demand, authorization, direction, notice, waiver, consent or declaration or other action or Act of Holders (and the consequences of any thereof) in connection with such covenants, but shall continue to be deemed Outstanding for all other purposes hereunder. For this purpose, such Covenant Defeasance covenant defeasance means that, with respect to the Securities of such Securities and Guaranteesseries, each of the Company and the Guarantors may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such specified Section, whether directly or indirectly by reason of any reference elsewhere herein to any such Section or by reason of any reference in any such Section to any other provision herein or in any other documentdocument and such omission to comply shall not constitute a Default or an Event of Default under Section 501, but but, except as specified above, the remainder of this Indenture and the Securities of such Securities and Guarantees series shall be unaffected thereby.. The following shall be the conditions to application of this Section 1303:

SECTION 1303. Covenant Defeasance. Upon the Company’s 's exercise of its option, option (if any, ) to have this Section 1303 applied to any Securities or any series of Securities, or if this Section 1303 shall otherwise apply to any Securities or any series of Securitiesas the case may be, (1) the Company and the Guarantors shall be released from their respective its obligations under Section 801 801(3), Sections 1006 through 1009, inclusive, and any covenants provided which were made a part of the terms of the Securities of such series in accordance with pursuant to Section 301(18), Section 901(1901(2) or Section 901(12901(7) for the benefit of the Holders of such Securities and (2) the occurrence of any event specified in Section Sections 501(4) (with respect to any of Section 801(3), Sections 1006 through 1009, inclusive, and any such covenants provided pursuant to Section 501(8301(18), 901(2) or 901(7)) and 501(7) shall be deemed not to be or result in an Event of Default, in each case with respect to such Securities and Guarantees as provided in this Section 1303 on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called “"Covenant Defeasance”"). For this purpose, such Covenant Defeasance means that, with respect to such Securities and GuaranteesSecurities, each of the Company and the Guarantors may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such specified SectionSection (to the extent so specified in the case of Section 501(4)), whether directly or indirectly by reason of any reference elsewhere herein to any such Section or by reason of any reference in any such Section to any other provision herein or in any other document, but the remainder of this Indenture and such Securities and Guarantees shall be unaffected thereby.

SECTION 1303. Covenant Defeasance. Upon the Company’s 's exercise of its option, option (if any, ) to have this Section 1303 applied to any Securities or any series of Securities, or if this Section 1303 shall otherwise apply to any Securities or any series of Securitiesas the case may be, (1a) the Company and the Guarantors shall be released from their respective its obligations under clause (c) of Section 801 and any covenants provided which were made a part pursuant to clause (r) of the terms of the Securities of such series in accordance with Section 301(18)301, Section 901(11005 or clause (b) or (g) of Section 901(12) 901 for the benefit of the Holders of such Securities Securities, and (2b) the occurrence of any event specified in clause (d) of Section 501(4501 (with respect to any of clause (c) of Section 801 and any such covenants provided pursuant to clause (r) of Section 501(8301, Section 1005 or clause (b) or (g) of Section 901) or clause (e) of Section 501 shall be deemed not to be or result in an Event of Default, in each case with respect to such Securities and Guarantees as provided in this Section 1303 on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called “"Covenant Defeasance”"). For this purpose, such Covenant Defeasance means that, with respect to such Securities and GuaranteesSecurities, each of the Company and the Guarantors may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such specified SectionSection (to the extent so specified in the case of clause (d) of Section 501), whether directly or indirectly by reason of any reference elsewhere herein to any such Section or by reason of any reference in any such Section to any other provision herein or in any other document, but the remainder of this Indenture and such Securities and Guarantees shall be unaffected thereby.

SECTION 1303. Covenant Defeasance. Upon the Company’s Companies’ exercise of its option, their option (if any, ) to have this Section 1303 applied to any Securities or any series of Securities, or if this Section 1303 shall otherwise apply to any Securities or any series of Securitiesas the case may be, (1) the Company Companies and the Guarantors Parent shall be released from their respective obligations under Section 801 Article Eight, Sections 704 and 1006 through 1009, inclusive, and any covenants provided which were made a part of the terms of the Securities of such series in accordance with pursuant to Section 301(18301(19), Section 901(1901(2) or Section 901(12901(7) for the benefit of the Holders of such Securities and (2) the occurrence of any event specified in Section 501(4) (with respect to any of Article Eight, Section 704 or Sections 1006 through 1009, inclusive, and any such covenants provided pursuant to Section 501(8301(19), 901(2) or 901(7)) shall be deemed not to be or result in an Event of Default, in each case with respect to such Securities and Guarantees as provided in this Section 1303 on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called “Covenant Defeasance”). For this purpose, such Covenant Defeasance means that, with respect to such Securities Securities, the Companies and Guarantees, each of the Company and the Guarantors Parent may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such specified SectionSection (to the extent so specified in the case of Section 501(4)), whether directly or indirectly by reason of any reference elsewhere herein to any such Section or by reason of any reference in any such Section to any other provision herein or in any other document, but the remainder of this Indenture and such Securities and Guarantees shall be unaffected thereby.

SECTION 1303. Covenant Defeasance. Upon the Company’s exercise of its option, option (if any, ) to have this Section 1303 applied to any Securities or any series of Securities, or if this Section 1303 shall otherwise apply to any Securities or any series of Securitiesas the case may be, (1) the Company and the Guarantors shall be released from their respective its obligations under Section 801 1004 and any covenants provided which were made a part of the terms of the Securities of such series in accordance with pursuant to Section 301(18), Section 901(1901(2), 901(6) or Section 901(12901(7) for the benefit of the Holders of such Securities and (2) the occurrence of any event specified in Section Sections 501(4) (with respect to Section 1004 and any such covenants provided pursuant to Section 301(18), 901(2), 901(6) or 901(7)) and 501(8) shall be deemed not to be or result in an Event of Default, and (3) the provisions of Article XV [if applicable, insert — (and the provisions of the last paragraph of Section 1401)] shall cease to be effective, in each case with respect to such Securities and Guarantees as provided in this Section 1303 on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called “Covenant Defeasance”). For this purpose, such Covenant Defeasance means that, with respect to such Securities and GuaranteesSecurities, each of the Company [if applicable, insert — and the Guarantors any Guarantor] may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such specified SectionSection (to the extent so specified in the case of Section 501(4)) or Article XV [if applicable, insert — or the last paragraph of Section 1401], whether directly or indirectly by reason of any reference elsewhere herein to any such Section or by reason of any reference in any such Section to any other provision herein or in any other document, but the remainder of this Indenture and such Securities [if applicable, insert — and Guarantees any Guarantees] thereof shall be unaffected thereby.

SECTION 1303. Covenant Defeasance. Upon the Company’s exercise of its option, option (if any, ) to have this Section 1303 applied to any Securities or any series of Securities, or if this Section 1303 shall otherwise apply to any Securities or any series of Securitiesas the case may be, (1a) the Company and the Guarantors shall be released from their respective its obligations under clause (c) of Section 801 and any covenants provided which were made a part pursuant to clause (r) of the terms of the Securities of such series in accordance with Section 301(18)301, Section 901(11005 or clause (b) or (g) of Section 901(12) 901 for the benefit of the Holders of such Securities Securities, and (2b) the occurrence of any event specified in clause (d) of Section 501(4501 (with respect to any of clause (c) of Section 801 and any such covenants provided pursuant to clause (r) of Section 501(8301, Section 1005 or clause (b) or (g) of Section 901) or clause (e) of Section 501 shall be deemed not to be or result in an Event of Default, in each case with respect to such Securities and Guarantees as provided in this Section 1303 on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called “Covenant Defeasance”). For this purpose, such Covenant Defeasance means that, with respect to such Securities and GuaranteesSecurities, each of the Company and the Guarantors may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such specified SectionSection (to the extent so specified in the case of clause (d) of Section 501), whether directly or indirectly by reason of any reference elsewhere herein to any such Section or by reason of any reference in any such Section to any other provision herein or in any other document, but the remainder of this Indenture and such Securities and Guarantees shall be unaffected thereby.

SECTION 1303. Covenant Defeasance. Upon the Company’s exercise of its option, option (if any, ) to have this Section 1303 applied to any Securities or any series of Securities, or if this Section 1303 shall otherwise apply to any Securities or any series of Securitiesas the case may be, (1a) the Company and the Guarantors shall be released from their respective its obligations under clause (c) of Section 801 and any covenants provided which were made a part pursuant to clause (r) of the terms of the Securities of such series in accordance with Section 301(18)301, Section 901(11005 or clause (b) or (g) of Section 901(12) 901 for the benefit of the Holders of such Securities Securities, and (2b) the occurrence of any event specified in clause (d) of Section 501(4501 (with respect to any of clause (c) of Section 801 and any such covenants provided pursuant to clause (r) of Section 501(8301, Section 1005 or clause (b) or (g) of Section 901) or clause (e) of Section 501 shall be deemed not to be or result in an Event of Default, and (c) the provisions of Article Fourteen shall cease to be effective, in each case with respect to such Securities and Guarantees as provided in this Section 1303 on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called “Covenant Defeasance”). For this purpose, such Covenant Defeasance means that, with respect to such Securities and GuaranteesSecurities, each of the Company and the Guarantors may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such specified SectionSection (to the extent so specified in the case of clause (d) of Section 501) or Article Fourteen, whether directly or indirectly by reason of any reference elsewhere herein to any such Section or Article or by reason of any reference in any such Section or Article to any other provision herein or in any other document, but the remainder of this Indenture and such Securities and Guarantees shall be unaffected thereby.

SECTION 1303. Covenant Defeasance. Upon On and after the Company’s exercise of its option, if any, to have this date the conditions set forth in Section 1303 applied to any Securities or any series of Securities, or if this Section 1303 shall otherwise apply to any Securities or any series of Securities1304 are satisfied, (1) the Company and the Guarantors shall be released from their respective its obligations under Section 801 Article Eight, Sections 704 and 1006, inclusive, and any covenants provided which were made a part of the terms of the Securities of such series in accordance with pursuant to Section 301(18301(19), Section 901(1901(2) or Section 901(12901(7) for the benefit of the Holders of such Securities and (2) the occurrence of any event specified in Section Sections 501(4) (with respect to any of Article Eight, Section 704 or Section 1006, inclusive, and any such covenants provided pursuant to Section 501(8301(19), 901(2) or 901(7)), shall be deemed not to be or result in an Event of Default, in each case with respect to such Securities and Guarantees as provided in this Section 1303 on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called “Covenant Defeasance”). For this purpose, such Covenant Defeasance means that, with respect to such Securities and GuaranteesSecurities, each of the Company and the Guarantors may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such specified SectionArticle or Section (to the extent so specified in the case of Section 501(4)), whether directly or indirectly by reason of any reference elsewhere herein to any such Article or Section or by reason of any reference in any such Article or Section to any other provision herein or in any other document, but the remainder of this Indenture and such Securities and Guarantees shall be unaffected thereby.

SECTION 1303. Covenant Defeasance. Upon the Company’s 's exercise of its option, option (if any, ) to have this Section 1303 applied to any Securities or any series of Securities, or if this Section 1303 shall otherwise apply to any Securities or any series of Securitiesas the case may be, (1a) the Company and the Guarantors shall be released from their respective its obligations under clause (c) of Section 801 and any covenants provided which were made a part pursuant to clause (r) of the terms of the Securities of such series in accordance with Section 301(18)301, Section 901(11005 or clause (b) or (g) of Section 901(12) 901 for the benefit of the Holders of such Securities Securities, and (2b) the occurrence of any event specified in clause (d) of Section 501(4501 (with respect to any of clause (c) of Section 801 and any such covenants provided pursuant to clause (r) of Section 501(8301, Section 1005 or clause (b) or (g) of Section 901) or clause (e) of Section 501 shall be deemed not to be or result in an Event of Default, and (c) the provisions of Article Fourteen shall cease to be effective, in each case with respect to such Securities and Guarantees as provided in this Section 1303 on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called “"Covenant Defeasance”"). For this purpose, such Covenant Defeasance means that, with respect to such Securities and GuaranteesSecurities, each of the Company and the Guarantors may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such specified SectionSection (to the extent so specified in the case of clause (d) of Section 501) or Article Fourteen, whether directly or indirectly by reason of any reference elsewhere herein to any such Section or Article or by reason of any reference in any such Section or Article to any other provision herein or in any other document, but the remainder of this Indenture and such Securities and Guarantees shall be unaffected thereby.

SECTION 1303. Covenant Defeasance. Upon the Company’s 's exercise of its option, option (if any, ) to have this Section 1303 applied to any Securities or any series of Securities, or if this Section 1303 shall otherwise apply to any Securities or any series of Securitiesas the case may be, (1) the Company and the Guarantors shall be released from their respective its obligations under Section 801 801(3), Sections 1006 through 1009, inclusive, and any covenants provided which were made a part of the terms of the Securities of such series in accordance with pursuant to Section 301(18), Section 901(1901(2) or Section 901(12901(7) for the benefit of the Holders of such Outstanding Securities and (2) the occurrence of any event specified in Section Sections 501(4) (with respect to any of Section 801(3), Sections 1006 through 1009, inclusive, and any such covenants provided pursuant to Section 301(18), 901(2) or 901(7)) 501(5) and 501(8) shall be deemed not to be or result in an Event of Default, in each case with respect to such Securities and Guarantees as provided in this Section 1303 on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called “"Covenant Defeasance”"). For this purpose, such Covenant Defeasance means that, with respect to such Securities and GuaranteesSecurities, each of the Company and the Guarantors may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such specified SectionSection (to the extent so specified in the case of Section 501(4)), whether directly or indirectly by reason of any reference elsewhere herein to any such Section or by reason of any reference in any such Section to any other provision herein or in any other document, but the remainder of this Indenture and such Securities and Guarantees shall be unaffected thereby.

SECTION 1303. Covenant Defeasance. Upon the CompanyCorporation’s exercise of its option, option (if any, ) to have this Section 1303 applied to any applicable series of Securities or any series Securities of Securitiessuch series, or if this Section 1303 shall otherwise apply to any Securities or any series of Securitiesas the case may be, (1) the Company and the Guarantors Corporation shall be released from their respective its obligations under Section 801 801(3), Sections 1005 through 1006, inclusive, and any covenants provided which were made a part of the terms of the Securities of such series in accordance with pursuant to Section 301(18), Section 901(1901(2) or Section 901(12901(7) for the benefit of the Holders of such Securities and (2) the occurrence of any event specified in Section Sections 501(4) (with respect to any of Section 801(3), Sections 1005 through 1006, inclusive, and any such covenants provided pursuant to Section 301(18), 901(2) or 901(7)), 501(5) and 501(8) shall be deemed not to be or result in an Event of Default, in each case with respect to such Securities and Guarantees as provided in this Section 1303 on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called “Covenant Defeasance”). For this purpose, such Covenant Defeasance means that, with respect to such Securities and GuaranteesSecurities, each of the Company and the Guarantors Corporation may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such specified SectionSection (to the extent so specified in the case of Section 501(4)), whether directly or indirectly by reason of any reference elsewhere herein to any such Section or by reason of any reference in any such Section to any other provision herein or in any other document, but the remainder of this Indenture and such Securities and Guarantees shall be unaffected thereby.