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 shall be released from its obligations under Section 801 and any covenants provided pursuant to Section 301(18), Section 901(1) or Section 901(11) for the benefit of the Holders of such Securities and (2) the occurrence of any event specified in Section 501(4) and Section 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 1303 on and after the date the conditions set forth in Section 1304 are satisfied (“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, 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 shall be unaffected thereby.

SECTION 1303. Covenant Defeasance. Upon the Company’s exercise by the Company of its option, if any, the above option applicable to have this Section 1303 applied with respect to any Securities or any series of Securitiesa series, or if this Section 1303 shall otherwise apply to any Securities or any series of Securities, (1) the Company shall be released from its obligations under Section 801 and any covenants provided Sections 905 through 907, and, if specified pursuant to Section 301(18)301, Section 901(1) or Section 901(11) for the benefit of the Holders of such Securities and (2) the occurrence of their obligations under any event specified in Section 501(4) and Section 501(7) shall be deemed not to be or result in an Event of Defaultother covenant, in each case with respect to such Outstanding Securities as provided in this Section 1303 and any related coupons, respectively, on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter, “Covenant Defeasancecovenant defeasance”), and such Securities and any related coupons shall thereafter be deemed not to be “Outstanding” for the purposes of any direction, waiver, consent or declaration 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 such SecuritiesOutstanding Securities and any related coupons, 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 Sectioncovenant, whether directly or indirectly indirectly, by reason of any reference elsewhere herein to any such Section covenant or by reason of any reference in any such Section covenant 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(3) or Section 501(6) or otherwise, but as the case may be, but, except as specified above, the remainder of this Indenture and such Securities and any related coupons 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 shall be released from its obligations under Section 801 and any covenants provided pursuant to Section 301(18), Section 901(1) or Section 901(11901(10) for the benefit of the Holders of such Securities and (2) the occurrence of any event specified in Section 501(4) and Section 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 1303 on and after the date the conditions set forth in Section 1304 are satisfied (“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, 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 shall be unaffected thereby.

SECTION 1303. Covenant Defeasance. Upon the Company’s 's exercise of its option, if any, the option provided in Section 1301 applicable 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 SecuritiesSection, (1i) the Company shall be released from its obligations under Section 801 and any covenants provided pursuant with respect to Section 301(18), Section 901(1) or Section 901(11) for the benefit of the Holders Securities of such Securities series under Sections 801, 1005 and 1006 and (2ii) the occurrence of any an event specified in Section 501(4Sections 501(3) and Section 501(7or (5) shall not 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 1303 Default on and after the date the conditions set forth in Section 1304 below are satisfied (“Covenant Defeasance”hereinafter, "covenant defeasance"), but the remainder of this Indenture and such Securities shall be unaffected thereby. For this purpose, such Covenant Defeasance covenant defeasance means that, with respect to such Securities, that 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, Section or clause whether directly or indirectly by reason of any reference elsewhere herein to any such Section or clause or by reason of any reference in any such Section or clause to any other provision herein or in any such Section or clause 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, the option provided in Section 1301 applicable 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 SecuritiesSection, (1i) the Company shall be released from its obligations under Section 801 and any covenants provided pursuant with respect to Section 301(18), Section 901(1) or Section 901(11) for the benefit of the Holders Securities of such Securities series under Sections 801, and 1005 and (2ii) the occurrence of any an event specified in Section 501(4Sections 501(3) and Section 501(7or (5) shall not 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 1303 Default on and after the date the conditions set forth in Section 1304 below are satisfied (“Covenant Defeasance”hereinafter, "covenant defeasance"), but the remainder of this Indenture and such Securities shall be unaffected thereby. For this purpose, such Covenant Defeasance covenant defeasance means that, with respect to such Securities, that 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, Section or clause whether directly or indirectly by reason of any reference elsewhere herein to any such Section or clause or by reason of any reference in any such Section or clause to any other provision herein or in any such Section or clause 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 by the Company of its option, if any, the above option applicable to have this Section 1303 applied with respect to any Securities or any series of Securitiesa series, or if this Section 1303 shall otherwise apply to any Securities or any series of Securities, (1) the Company shall be released from its obligations under Section 801 and any covenants provided 905 through Section 907, and, if specified pursuant to Section 301(18)301, Section 901(1) or Section 901(11) for the benefit of the Holders of such Securities and (2) the occurrence of their obligations under any event specified in Section 501(4) and Section 501(7) shall be deemed not to be or result in an Event of Defaultother covenant, in each case with respect to such Outstanding Securities as provided in this Section 1303 and any related coupons, respectively, on and after the date the conditions set forth in Section 1304 are satisfied (“Covenant Defeasance”hereinafter, "covenant defeasance"), and such Securities and any related coupons shall thereafter be deemed not to be "Outstanding" for the purposes of any direction, waiver, consent or declaration 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 such SecuritiesOutstanding Securities and any related coupons, 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 Sectioncovenant, whether directly or indirectly indirectly, by reason of any reference elsewhere herein to any such Section covenant or by reason of any reference in any such Section covenant 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(3) or Section 501(6) or otherwise, but as the case may be, but, except as specified above, the remainder of this Indenture and such Securities and any related coupons shall be unaffected thereby.