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 applied to any Securities or any series of Securities, as the case may be, (a) the Company shall be released from its obligations under clause (c) of Section 801, Sections 1006 through 1008, inclusive, and any covenants provided pursuant to clause (r) of Section 301 or clause (b) or (g) of Section 901 for the benefit of the Holders of such Securities; and (b) the occurrence of any event specified in clause (d) of Section 501 (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 301 or clause (b) or (g) of Section 901 shall be deemed not to be or result in an Event of Default. Securities as provided in this Section 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, the Company 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 (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 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, as the case may beor if this Section 1303 shall otherwise apply to any Securities or any series of Securities, (a1) the Company and the Guarantors shall be released from its their respective obligations under clause (c) of Section 801, Sections 1006 through 1008, inclusive, 801 and any covenants provided pursuant to clause (r) of Section 301 or clause (b301(18), Section 901(1) or (gSection 901(12) of Section 901 for the benefit of the Holders of such Securities; Securities and (b2) the occurrence of any event specified in clause (dSection 501(4) of and Section 501 (501(8) with respect to any of clause (c) of Section 801, Sections 1006 through 1008, inclusive, 801 and any such covenants provided pursuant to clause (r) of Section 301 or clause (b301(18), Section 901(1) or (gSection 901(12) 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 SecuritiesSecurities 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 (to the extent so specified in the case of clause (d) of Section 501)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 shall be unaffected thereby.

SECTION 1303. Covenant Defeasance. Upon the Company's ’s exercise of its option (if any) to have this Section applied to any Securities or any series of Securities, as the case may be, (a1) the Company shall be released from its obligations under clause (c) of Section 801, Sections 1006 1008 through 10081010, inclusive, and any covenants provided pursuant to clause (r) of Section 301 or clause (bSections 301(18), 901(2) or (g901(7) of Section 901 for the benefit of the Holders of such Securities; Securities and (b2) the occurrence of any event specified in clause (dSections 501(4) of Section 501 (with respect to any of clause (c) of Section 801, Sections 1006 1008 through 10081010, inclusive, and any such covenants provided pursuant to clause (r) of Section 301 or clause (b301(18), 901(2) or (g901(7)) of Section 901 and 501(7) shall be deemed not to be or result in an Event of Default. , in each case with respect to such Securities as provided in this Section 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, the Company 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 (to the extent so specified in the case of clause (d) of Section 501501(4)), 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 shall be unaffected thereby.

SECTION 1303. Covenant Defeasance. Upon the Company's exercise of its option (if any) to have this Section applied to any Securities or any series of Securities, as the case may be, , (a1) the Company shall be released from its obligations under clause (c) of Section 801801(1)(b)(i), Sections 1006 through 1008, inclusive, Section 803 and any covenants provided pursuant to clause (r) of Section 301 or clause (b301(18), 901(2) or (g901(7) of Section 901 for the benefit of the Holders of such Securities; and (b2) the occurrence of any event specified in clause (dSections 501(3), 501(4) of Section 501 (with respect to any of clause (c) of Section 801801(1)(b)(i), Sections 1006 through 1008, inclusive, Section 803 and any such covenants provided pursuant to clause (r) of Section 301 or clause (b301(18), 901(2) or (g901(7)) of Section 901 and 501(7) shall be deemed not to be or result in an Event of Default. Default and (3) the provisions of Article Fourteen shall cease to be effective, in each case with respect to such Securities as provided in this Section 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, the Company 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 (to the extent so specified in the case of clause (dSection 501(4)) 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 shall be unaffected thereby.

SECTION 1303. Covenant Defeasance. Upon the Company's ’s exercise of its the above option (if any) applicable to have this Section applied with respect to any Securities of or any series of Securitieswithin a series, as the case may be, (a) the Company and the Guarantor shall be released from its their respective obligations under clause Sections 501 (c) of Section 8015), Sections 1006 through 10081005, inclusive1006, 1007 and any covenants provided 1008 and, if specified pursuant to clause (r) of Section 301 or clause (b) or (g) of Section 901 for the benefit of the Holders of such Securities; and (b) the occurrence of 301,their respective obligations under any event specified in clause (d) of Section 501 (other covenant, with respect to any the Outstanding Securities of clause (c) of Section 801, Sections 1006 through 1008, inclusive, and any such covenants provided pursuant to clause (r) of Section 301 or clause (b) or (g) of Section 901 shall be deemed not to be or result in an Event of Default. Securities as provided in this Section series on and after the date the conditions set forth in Section 1304 below are satisfied (hereinafter called "Covenant Defeasance"hereinafter, “covenant 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 Securitiesseries, the Company and the 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 Section (to the extent so specified in the case of clause (d) of Section 501)or such other covenant, whether directly or indirectly by reason of any reference elsewhere herein to any such Section or Article or indirectly, by reason of any reference in any such Section or Article 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 shall be unaffected thereby.

SECTION 1303. Covenant Defeasance. Upon the Company's ’s exercise of its option (if any) to have this Section applied to any Securities or any series of Securities, as the case may beNotes, (a1) the Company shall be released from its obligations under clause (c) of Section 801801(4), Section 1006, Sections 1006 1010 through 10081018, inclusive, and any covenants provided pursuant to clause Section 1021; (r) of Section 301 or clause (b) or (g) of Section 901 for the benefit of the Holders of such Securities; and (b2) the occurrence of any event specified in clause (dSections 501(3) of Section 501 (with respect only to any of clause the obligations under Section 801(4) and Sections 1010 and 1015), 501(4), 501(5), 501(6), 501(7), 501(9) (c) of Section 801, Sections 1006 through 1008, inclusive, and any such covenants provided pursuant with respect only to clause (r) of Section 301 or clause (bSignificant Subsidiaries) or 501(10) (g) of Section 901 with respect only to Significant Subsidiaries), shall be deemed not to be or to result in an Event of Default. Securities Default and (3) the Guarantees shall be automatically released, in each case with respect to such Notes as provided in this Section 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 SecuritiesNotes, the Company 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 (to the extent so specified in the case of clause (d) of Section 501)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 Notes shall be unaffected thereby.

SECTION 1303. Covenant Defeasance. Upon the Company's ’s exercise of its option (if any) to have this Section applied to any Securities or any series of Securities, as the case may be, (a1) the Company shall be released from its obligations under clause (c) of Section 801, Sections 1006 through 1008, inclusive, 1004 and any covenants provided pursuant to clause (r) of Section 301 or clause (b301(18), 901(2), 901(6) or (g901(7) of Section 901 for the benefit of the Holders of such Securities; , and (b2) the occurrence of any event specified in clause (dSections 501(4) of Section 501 (with respect to any of clause (c) of Section 801, Sections 1006 through 1008, inclusive, 1004 and any such covenants provided pursuant to clause (r) of Section 301 or clause (b301(18), 901(2), 901(6) or (g901(7)) of Section 901 and 501(8) shall be deemed not to be or result in an Event of Default. , in each case with respect to such Securities as provided in this Section 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, the Company and 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 Section (to the extent so specified in the case of clause (d) of Section 501501(4)), 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 ’s exercise of its option (if any) to have this Section applied to any Securities or any series of Securities, as the case may be, (a) the Company shall be released from its obligations under clause (c) of Section 801, Sections 1006 through 1008, inclusive, 801 and any covenants provided pursuant to clause (r) of Section 301 301, Section 1005 or clause (b) or (g) of Section 901 for the benefit of the Holders of such Securities; , and (b) the occurrence of any event specified in clause (d) of Section 501 (with respect to any of clause (c) of Section 801, Sections 1006 through 1008, inclusive, 801 and any such covenants provided pursuant to clause (r) of Section 301 301, Section 1005 or clause (b) or (g) of Section 901 901) 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 as provided in this Section 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, the Company 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 (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 shall be unaffected thereby.

SECTION 1303. Covenant Defeasance. Upon the Company's exercise of its option (if any) to have this Section applied to any Securities or any series of Securities, as the case may be, (a) the Company shall be released from its obligations under clause (c) of Section 801, Sections 1006 through 1008, inclusive, 801 and any covenants provided pursuant to clause (r) of Section 301 301, Section 1005 or clause (b) or (g) of Section 901 for the benefit of the Holders of such Securities; , and (b) the occurrence of any event specified in clause (d) of Section 501 (with respect to any of clause (c) of Section 801, Sections 1006 through 1008, inclusive, 801 and any such covenants provided pursuant to clause (r) of Section 301 301, Section 1005 or clause (b) or (g) of Section 901 901) 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 as provided in this Section 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, the Company 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 (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 shall be unaffected thereby.

SECTION 1303. Covenant Defeasance. Upon the Company's exercise of its option (if any) to have this Section applied to any Securities or any series of Securities, as the case may be, (a1) the Company shall be released from its obligations under clause (c) of Section 801801(3), Sections 1006 through 10081007, inclusive, and any covenants provided pursuant to clause (r) of Section 301 or clause (b301(18), 901(2) or (g901(7) of Section 901 for the benefit of the Holders of such Outstanding Securities; and , (b2) the occurrence of any event specified in clause (dSections 507(e) of Section 501 (with respect to any of clause (c) of Section 801801(3), Sections 1006 through 10081007, inclusive, and any such covenants provided pursuant to clause (r) of Section 301 or clause (b301(18), 901(2) or (g901(7)), 507(f) of Section 901 and 501(3) shall be deemed not to be or result in a Default or an Event of Default. Default and (3) the provisions of Article Fourteen shall cease to be effective, in each case with respect to such Securities as provided in this Section 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, the Company 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 (to the extent so specified in the case of clause (dSection 507(e)) 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 shall be unaffected thereby.

SECTION 1303. Covenant Defeasance. Upon the Company's exercise of its option (if any) to have this Section applied to any Securities or any series of Securities, as the case may be, (a1) the Company shall be released from its obligations under clause (c) of Section 801801(3), Sections 1006 through 10081009, inclusive, and any covenants provided pursuant to clause (r) of Section 301 or clause (b301(18), 901(2) or (g901(7) of Section 901 for the benefit of the Holders of such Securities; Outstanding Securities and (b2) the occurrence of any event specified in clause (dSections 501(4) of Section 501 (with respect to any of clause (c) of Section 801801(3), Sections 1006 through 10081009, inclusive, and any such covenants provided pursuant to clause (r) of Section 301 or clause (b301(18), 901(2) or (g901(7)) of Section 901 501(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 as provided in this Section 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, the Company 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 (to the extent so specified in the case of clause (d) of Section 501501(4)), 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 shall be unaffected thereby.

SECTION 1303. Covenant Defeasance. Upon the Company's exercise of its option (if any) to have this Section applied to any Securities or any series of Securities, as the case may be, (a) the Company shall be released from its obligations under clause (c) of Section 801, Sections 1006 through 1008, inclusive, 801 and any covenants provided pursuant to clause (r) of Section 301 301, Section 1005 or clause (b) or (g) of Section 901 for the benefit of the Holders of such Securities; , and (b) the occurrence of any event specified in clause (d) of Section 501 (with respect to any of clause (c) of Section 801, Sections 1006 through 1008, inclusive, 801 and any such covenants provided pursuant to clause (r) of Section 301 301, Section 1005 or clause (b) or (g) of Section 901 901) 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 as provided in this Section 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, the Company 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 (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 shall be unaffected thereby.

SECTION 1303. Covenant Defeasance. Upon the Company's exercise of its the Issuers’ option (if any) to have this Section applied to any Securities or any series of Securities, as the case may be, (a1) the Company Issuers shall be released from its their obligations under clause (c) of Section 801, Sections 1006 through 1008, inclusive, 1004 and any covenants provided pursuant to clause (r) of Section 301 or clause (b301(18), 901(2), 901(6) or (g901(7) of Section 901 for the benefit of the Holders of such Securities; and , (b2) the occurrence of any event specified in clause (dSections 501(4) of Section 501 (with respect to any of clause (c) of Section 801, Sections 1006 through 1008, inclusive, 1004 and any such covenants provided pursuant to clause (r) of Section 301 or clause (b301(18), 901(2), 901(6) or (g901(7)) of Section 901 and 501(8) shall be deemed not to be or result in an Event of Default. Default 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 as provided in this Section 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, the Company Issuers and 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 Section (to the extent so specified in the case of clause (dSection 501(4)) or Article XV or the last paragraph of Section 501)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 On and after the Company's exercise of its option (if any) to have this date the conditions set forth in Section applied to any Securities or any series of Securities, as the case may be1304 are satisfied, (a1) the Company shall be released from its obligations under clause (c) of Section 801Article Eight, Sections 1006 through 1008704 and 1006, inclusive, and any covenants provided pursuant to clause (r) of Section 301 or clause (b301(19), 901(2) or (g901(7) of Section 901 for the benefit of the Holders of such Securities; and (b2) the occurrence of any event specified in clause (dSections 501(4) of Section 501 (with respect to any of clause (c) of Article Eight, Section 801, Sections 1006 through 1008704 or Section 1006, inclusive, and any such covenants provided pursuant to clause (r) of Section 301 or clause (b301(19), 901(2) or (g) of Section 901 901(7)), shall be deemed not to be or result in an Event of Default. , in each case with respect to such Securities as provided in this Section 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, the Company may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such specified Article or Section (to the extent so specified in the case of clause (d) of Section 501501(4)), whether directly or indirectly by reason of any reference elsewhere herein to any such Article or Section or Article or by reason of any reference in any such Article or Section or Article to any other provision herein or in any other document, but the remainder of this Indenture and such Securities shall be unaffected thereby.

SECTION 1303. Covenant Defeasance. Upon the Company's ’s exercise of its option (if any) to have this Section applied to any Securities or any series of Securities, as the case may be, (a1) the Company shall be released from its obligations under clause (c) of Section 801, Sections 1006 through 1008, inclusive, 1004 and any covenants provided pursuant to clause (r) of Section 301 or clause (b301(18), 901(2), 901(6) or (g901(7) of Section 901 for the benefit of the Holders of such Securities; and , (b2) the occurrence of any event specified in clause (dSections 501(4) of Section 501 (with respect to any of clause (c) of Section 801, Sections 1006 through 1008, inclusive, 1004 and any such covenants provided pursuant to clause (r) of Section 301 or clause (b301(18), 901(2), 901(6) or (g901(7)) of Section 901 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 as provided in this Section 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, the Company [if applicable, insert – and 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 Section (to the extent so specified in the case of clause (dSection 501(4)) or Article XV or the last paragraph of Section 501)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 [if applicable, insert – 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 applied to any Securities or any series of Securities, as the case may be, (a) the Company shall be released from its obligations under clause (c) of Section 801, Sections 1006 through 1008, inclusive, 801 and any covenants provided pursuant to clause (r) of Section 301 301, Section 1005 or clause (b) or (g) of Section 901 for the benefit of the Holders of such Securities; and , (b) the occurrence of any event specified in clause (d) of Section 501 (with respect to any of clause (c) of Section 801, Sections 1006 through 1008, inclusive, 801 and any such covenants provided pursuant to clause (r) of Section 301 301, Section 1005 or clause (b) or (g) of Section 901 901) 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 as provided in this Section 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, the Company 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 (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 shall be unaffected thereby.

SECTION 1303. Covenant Defeasance. Upon the Company's ’s exercise of its option (if any) to have this Section applied to any Securities or any series of Securities, as the case may be, (a) the Company shall be released from its obligations under clause (c) of Section 801, Sections 1006 through 1008, inclusive, 801 and any covenants provided pursuant to clause (r) of Section 301 301, Section 1005 or clause (b) or (g) of Section 901 for the benefit of the Holders of such Securities; , and (b) the occurrence of any event specified in clause (d) of Section 501 (with respect to any of clause (c) of Section 801, Sections 1006 through 1008, inclusive, 801 and any such covenants provided pursuant to clause (r) of Section 301 301, Section 1005 or clause (b) or (g) of Section 901 901) 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 as provided in this Section 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, the Company 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 (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 shall be unaffected thereby.

SECTION 1303. Covenant Defeasance. Upon the Company's ’s exercise of its option (if any) to have this Section applied to any Securities, any tranche of Securities or any series of Securities, as the case may be, or if this Section shall otherwise apply to any Securities, any tranche of Securities or any series of Securities, as the case may be, (a1) the Company and the Guarantor shall be released from its each of their obligations under clause (c) of Section 801, Sections 1006 through 1008, inclusive, and any covenants provided pursuant to clause (r) of Section 301 or clause (b301(18), 901(2) or (g901(8) of Section 901 for the benefit of the Holders of such Securities; , and (b2) the occurrence of any event specified in clause (dSections 501(4) of Section 501 (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 301 or clause (b301(18), 901(2) or (g901(8)) of Section 901 and 501(8) shall be deemed not to be or result in an Event of Default. , in each case with respect to such Securities as provided in this Section 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, the Company and the 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 Section (to the extent so specified in the case of clause (d) of Section 501501(4)), 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 shall be unaffected thereby.