Common use of Shortening or Extension of Stated Maturity Clause in Contracts

Shortening or Extension of Stated Maturity. If specified as contemplated by Section 2.1 or Section 3.1 with respect to the Securities of a particular series, the Corporation shall have the right to (i) shorten the Stated Maturity of the principal of the Securities of such series at any time to any date not earlier than the first date on which the Company has the right to redeem the Securities of such series, and (ii) extend the Stated Maturity of the principal of the Securities of such series at any time at its election for one or more periods, but in no event to a date later than the 49th anniversary of the first Interest Payment Date following the Original Issue Date of the Securities of such series; provided that, if the Company elects to exercise its right to extend the Stated Maturity of the principal of the Securities of such series pursuant to clause (ii), above, at the time such election is made and at the time of extension (A) the Company is not in bankruptcy, otherwise insolvent or in liquidation, (B) the Company is not in default in the payment of any interest or principal on such Securities, (C) if the Issuer Trust has not been liquidated, such Issuer Trust is not in arrears on payments of Distributions on the Preferred Securities issued by such Issuer Trust and no deferred Distributions are accumulated and (D) after such extension, the Securities shall not have a remaining term to maturity of more than 30 years. In the event the Company elects to shorten or extend the Stated Maturity of the Securities of such series, it shall give notice to the Trustee, and the Trustee shall give notice of such shortening or extension to the Holders, no less than 30 and no more than 60 days prior to the effectiveness thereof.

Shortening or Extension of Stated Maturity. If specified as contemplated by Section 2.1 2.01 or Section 3.1 2.02 with respect to the Securities of a particular series, the Corporation Company shall have the right to (i) shorten the Stated Maturity of the principal of the Securities of such series at any time to any date not earlier than the first date on which the Company has the right to redeem the Securities of such seriesSeries, and (ii) extend the Stated Maturity of the principal of the Securities of such series at any time at its election for one or more periods, but in no event to a date later than the 49th anniversary of the first Interest Payment Date interest payment date following the Original Issue Date of the Securities of such series; provided that, if the Company elects to exercise its right to extend the Stated Maturity of the principal of the Securities of such series pursuant to this clause (ii), above, at the time such election is made and at the time of extension (A) the Company is not in bankruptcy, otherwise insolvent or in liquidation, (B) the Company is not in default in the payment of any interest or principal on such Securities, (C) if in the Issuer Trust has not been liquidatedcase of any series of Securities issued to a Xxxxx Fargo Trust, such Issuer Xxxxx Fargo Trust is not in arrears on payments of Distributions on the Preferred Securities issued by such Issuer Xxxxx Fargo Trust and no deferred Distributions are accumulated accumulated, and (D) after such extensionSecurities are rated not less than BBB- by Standard & Poor's Ratings Services or Baa3 by Xxxxx'x Investors Service, Inc. or the Securities shall not have a remaining term to maturity of more than 30 yearsequivalent by any other nationally recognized statistical rating organization. In the event the Company elects to shorten or extend the Stated Maturity of the Securities of such seriesSecurities, it shall give notice to the Trustee, and the Trustee shall give notice of such shortening or extension to the Holders, holders no less than 30 and no more than 60 days prior to the effectiveness thereof.

Shortening or Extension of Stated Maturity. If specified as contemplated by Section 2.1 or Section 3.1 with respect to the Securities of a particular series, the Corporation shall have the right to (i) shorten the Stated Maturity of the principal of the Securities of such series at any time to any date not earlier than the first date on which the Company has the right to redeem the Securities of such series, and (ii) extend the Stated Maturity of the principal of the Securities of such series at any time at its election for one or more periods, but in no event to a date later than the 49th anniversary of the first Interest Payment Date following the Original Issue Date of the Securities of such series; provided that, if the Company elects to exercise its right to extend the Stated Maturity of the principal of the Securities of such series pursuant to clause (ii), above, at the time such election is made and at the time of extension (A) the Company is not in bankruptcy, otherwise insolvent or in liquidation, (B) the Company is not in default in the payment of any interest or principal on such Securities, (C) if the Issuer Trust has not been liquidated, such Issuer Trust is not in arrears on payments of Distributions on the Preferred Capital Securities issued by such Issuer Trust and no deferred Distributions are accumulated accumulated, (D) such Securities are rated not less than BBB- by S&P or Baa3 by Xxxxx'x or the equivalent by any other nationally recognized statistical rating organization and (DE) after such extension, the Securities shall not have a remaining term to maturity of more than 30 years. In the event the Company elects to shorten or extend the Stated Maturity of the Securities of such series, it shall give notice to the Trustee, and the Trustee shall give notice of such shortening or extension to the Holders, no less than 30 and no more than 60 days prior to the effectiveness thereof.

Shortening or Extension of Stated Maturity. If specified as contemplated by Section 2.1 or Section 3.1 with respect to the Securities of a particular series, the Corporation Company shall have the right to (i) shorten the Stated Maturity of the principal of the Securities of such series at any time to any date not earlier than the first date on which the Company has the right to redeem the Securities of such series, and (ii) extend the Stated Maturity of the principal of the Securities of such series at any time at its election for one or more periods, but in no event to a date later than the 49th anniversary of the first Interest Payment Date following the Original Issue Date of the Securities of such series; provided that, if the Company elects to exercise its right to extend the Stated Maturity of the principal of the Securities of such series pursuant to clause (ii), above, at the time such election is made and at the time of extension (A) the Company is not in bankruptcy, otherwise insolvent or in liquidation, (B) the Company is not in default in the payment of any interest or principal on such Securities, (C) if in the Issuer Trust has not been liquidatedcase of any series of Securities held by a Trust, such Issuer Trust is not in arrears on payments of Distributions on the Preferred Capital Securities issued by such Issuer Trust and no deferred Distributions are accumulated and (D) after such extension, Securities are rated not less than BBB- by S&P or Baa3 by Xxxxx'x or the Securities shall not have a remaining term to maturity of more than 30 yearsequivalent by any other nationally recognized statistical rating organization. In the event the Company elects to shorten or extend the Stated Maturity of the Securities of such seriesSeries A Subordinated Debentures, it shall give written notice to the Trustee, and the Trustee shall give notice of such shortening or extension to the Holders, no less than 30 and no more than 60 days prior to the effectiveness thereof. The Company's right to shorten the Stated Maturity of the principal of the Securities of such series pursuant to clause (i) above is subject to the Company having received (A) prior approval of the Federal Reserve if required under applicable capital guidelines or policies and (B) an opinion of nationally recognized independent counsel experienced in such matters to the effect that after the shortening of maturity, interest paid on the Junior Subordinated Debentures will be deductible by Provident for United States federal income tax purposes; the holders of Capital Securities will not recognize income, gain or loss for United States federal income tax purposes as a result of the shortening of maturity, and will be taxed under United States federal income tax law in the same amount, in the manner and at the same times as would have been the case if the shortening of maturity had not occurred; and the shortening of maturity will not cause the Trust to be classified as other than a grantor trust for United States federal income tax purposes.

Shortening or Extension of Stated Maturity. If specified as contemplated by Section 2.1 or Section 3.1 with respect to the Securities of a particular series, the Corporation shall have the right to (i) shorten the Stated Maturity of the principal of the Securities of such series at any time to any date not earlier than the first date on which the Company has the right to redeem the Securities of such series, series and (ii) extend the Stated Maturity of the principal of the Securities of such series at any time at its election for one or more periods, but in no event to a date later than the 49th anniversary of the first Interest Payment Date following the Original Issue Date of the Securities of such series; provided that, if the Company elects to exercise its right to extend the Stated Maturity of the principal of the Securities of such series pursuant to clause (ii), above, at the time such election is made and at the time of extension (A) the Company is not in bankruptcy, otherwise insolvent or in liquidation, (B) the Company is not in default in the payment of any interest or principal on such Securities, (C) if the Issuer Trust has not been liquidated, such Issuer Trust is not in arrears on payments of Distributions on the Trust Preferred Securities issued by such Issuer Trust and no deferred Distributions are accumulated accumulated, (D) such Securities are rated not less than BBB- by S&P or Baa3 by Moody's or the equivalent by any other nationally recognixxx xxxtistical rating organization and (DE) after such extension, the Securities shall not have a remaining term to maturity of more than 30 years. In the event the Company elects to shorten or extend the Stated Maturity of the Securities of such series, it shall give notice to the Trustee, and the Trustee shall give notice of such shortening or extension to the Holders, no not less than 30 and no not more than 60 days prior to the effectiveness thereof.

Shortening or Extension of Stated Maturity. If specified as contemplated by Section 2.1 or Section 3.1 with respect to the Securities of a particular seriesseries and except as otherwise specified therein, the Corporation Company shall have the right to (i) shorten the Stated Maturity of the principal of the Securities of such series at any time to any date not earlier than the first date on which the Company has the right to redeem the Securities of such series, and (ii) extend the Stated Maturity of the principal of the Securities of such series at any time at its election for one or more periods, but in no event to a date later than the 49th anniversary of the first Interest Payment Date following the Original Issue Date of the Securities of such series; provided that, if the Company elects to exercise its right to extend the Stated Maturity of the principal of the Securities of such series pursuant to clause (ii), above, at the time such election is made and at the time of extension (A) the Company is not in bankruptcy, otherwise insolvent or in liquidation, (B) the Company is not in default in the payment of any interest or principal on such Securities, (C) if in the Issuer Trust has not been liquidatedcase of any series of Securities issued to a BankAmerica Trust, such Issuer BankAmerica Trust is not in arrears on payments of Distributions on the Preferred Securities issued by such Issuer BanicAmerica Trust and no deferred Distributions are accumulated and (D) after such extension, Securities are rated not less than BBB- by S&P or Baa3 by Xxxxx'x or the Securities shall not have a remaining term to maturity of more than 30 yearsequivalent by any other nationally recognized statistical rating organization. In the event the Company elects to shorten or extend the Stated Maturity of the Securities any series of such seriesSecurities, it shall give notice to the Trustee, and the Trustee shall give notice of such shortening or extension to the Holders, no less than 30 and no more than 60 90 days prior to the effectiveness thereof.

Shortening or Extension of Stated Maturity. If specified as contemplated by Section 2.1 or Section 3.1 with respect to the Securities of a particular series, the Corporation shall have the right to (i) shorten the Stated Maturity of the principal of the Securities of such series at any time to any date not earlier than the first date on which the Company has the right to redeem the Securities of such series, series and (ii) extend the Stated Maturity of the principal of the Securities of such series at any time at its election for one or more periods, but in no event to a date later than the 49th anniversary of the first Interest Payment Date following the Original Issue Date of the Securities of such series; provided that, if the Company elects to exercise its right to extend the Stated Maturity of the principal of the Securities of such series pursuant to clause (ii), above, at the time such election is made 135 and at the time of extension (A) the Company is not in bankruptcy, otherwise insolvent or in liquidation, (B) the Company is not in default in the payment of any interest or principal on such Securities, (C) if the Issuer Trust has not been liquidated, such Issuer Trust is not in arrears on payments of Distributions on the Trust Preferred Securities issued by such Issuer Trust and no deferred Distributions are accumulated accumulated, (D) such Securities are rated not less than BBB- by S&P or Baa3 by Xxxxx'x or the equivalent by any other nationally recognized statistical rating organization and (DE) after such extension, the Securities shall not have a remaining term to maturity of more than 30 years. In the event the Company elects to shorten or extend the Stated Maturity of the Securities of such series, it shall give notice to the Trustee, and the Trustee shall give notice of such shortening or extension to the Holders, no not less than 30 and no not more than 60 days prior to the effectiveness thereof.

Shortening or Extension of Stated Maturity. If specified as contemplated by Section 2.1 or Section 3.1 with respect to the Securities of a particular series, the Corporation shall have the right to (i) shorten the Stated Maturity of the principal of the Securities of such series at any time to any date not earlier than the first date on which the Company has the right to redeem the Securities of such series, series and (ii) extend the Stated Maturity of the principal of the Securities of such series at any time at its election for one or more periods, but in no event to a date later than the 49th anniversary of the first Interest Payment Date following the Original Issue Date of the Securities of such series; provided that, if the Company elects to exercise its right to extend the Stated Maturity of the principal of the Securities of such series pursuant to clause (ii), above, at the time such election is made 146 and at the time of extension (A) the Company is not in bankruptcy, otherwise insolvent or in liquidation, (B) the Company is not in default in the payment of any interest or principal on such Securities, (C) if the Issuer Trust has not been liquidated, such Issuer Trust is not in arrears on payments of Distributions on the Trust Preferred Securities issued by such Issuer Trust and no deferred Distributions are accumulated accumulated, (D) such Securities are rated not less than BBB- by S&P or Baa3 by Xxxxx'x or the equivalent by any other nationally recognized statistical rating organization and (DE) after such extension, the Securities shall not have a remaining term to maturity of more than 30 years. In the event the Company elects to shorten or extend the Stated Maturity of the Securities of such series, it shall give notice to the Trustee, and the Trustee shall give notice of such shortening or extension to the Holders, no not less than 30 and no not more than 60 days prior to the effectiveness thereof.

Shortening or Extension of Stated Maturity. If specified as contemplated by Section 2.1 or Section 3.1 2.2 with respect to the Securities of a particular series, the Corporation Company shall have the right to (i) shorten the Stated Maturity of the principal of the Securities of such series at any time to any date not earlier than the first date on which the Company has the right right, if any, to redeem the Securities of such series, and (ii) extend the Stated Maturity of the principal of the Securities of such series at any time at its election for one or more periods, but in no event to a date later than the 49th anniversary of the first Interest Payment Date interest payment date following the Original Issue Date of the Securities of such series; provided that, if the Company elects to exercise its right to extend the Stated Maturity of the principal of the Securities of such series pursuant to this clause (ii), above, at the time such election is made and at the time of extension (A) the Company is not in bankruptcy, otherwise insolvent or in liquidation, (B) the Company is not in default in the payment of any interest or principal on such Securities, (C) if in the Issuer Trust has not been liquidatedcase of any series of Securities issued to a Xxxxxx Capital Trust, such Issuer Xxxxxx Capital Trust is not in arrears on payments of Distributions on the Preferred Securities issued by such Issuer Xxxxxx Capital Trust and no deferred Distributions are accumulated accumulated, and (D) after such extensionSecurities are rated not less than BBB- by Standard & Poor's Ratings Services or Baa3 by Xxxxx'x Investors Service, Inc. or the Securities shall not have a remaining term to maturity of more than 30 yearsequivalent by any other nationally recognized statistical rating organization. In the event the Company elects to shorten or extend the Stated Maturity of the Securities of such a particular series, it shall give notice to the TrusteeTrustee (not less than 45 days prior to the effectiveness thereof), and the Trustee shall give notice of such shortening or extension to the Holders, no holders not less than 30 and no nor more than 60 days prior to the effectiveness thereof.

Shortening or Extension of Stated Maturity. If specified as contemplated by Section 2.1 or Section 3.1 with respect to the Securities of a particular series, the Corporation Company shall have the right to (i) shorten the Stated Maturity of the principal of the Securities of such series at any time to any date not earlier than the first date on which the Company has the right to redeem the Securities of such series, and (ii) extend the Stated Maturity of the principal of the Securities of such series at any time at its election for one or more periods, but in no event to a date later than the 49th anniversary of the first Interest Payment Date following the Original Issue Date of the Securities of such series; provided that, if the Company elects to exercise its right to extend the Stated Maturity of the principal of the Securities of such series pursuant to clause (ii), above, at the time such election is made and at the time of extension (A) the Company is not in bankruptcy, otherwise insolvent or in liquidation, (B) the Company is not in default in the payment of any interest or principal on such Securities, (C) if in the Issuer Trust has not been liquidatedcase of any series of Securities held by a Trust, such Issuer Trust is not in arrears on payments of Distributions on the Preferred Capital Securities issued by such Issuer Trust and no deferred Distributions are accumulated and (D) after such extension, Securities are rated not less than BBB- by S&P or Baa3 by Moodx'x xx the Securities shall not have a remaining term to maturity of more than 30 yearsequivalent by any other nationally recognized statistical rating organization. In the event the Company elects to shorten or extend the Stated Maturity of the Securities of such seriesSeries A Subordinated Debentures, it shall give written notice to the Trustee, and the Trustee shall give notice of such shortening or extension to the Holders, no less than 30 and no more than 60 days prior to the effectiveness thereof. The Company's right to shorten the Stated Maturity of the principal of the Securities of such series pursuant to clause (i) above is subject to the Company having received prior approval of the Federal Reserve if required under applicable capital guidelines or policies.

Shortening or Extension of Stated Maturity. If specified as contemplated by Section 2.1 or Section 3.1 with respect to the Securities of a particular series, the Corporation Company shall have the right to (i) shorten the Stated Maturity of the principal of the Securities of such series at any time to any date not earlier than the first date on which the Company has the right to redeem the Securities of such series, and (ii) extend the Stated Maturity of the principal of the Securities of such series at any time at its election for one or more periods, but in no event to a date later than the 49th anniversary of the first Interest Payment Date following the Original Issue Date of the Securities of such series; provided that, if the Company elects to exercise its right to extend the Stated Maturity of the principal of the Securities of such series pursuant to clause (ii), above, at the time such election is made and at the time of extension (A) the Company is not in bankruptcy, otherwise insolvent or in liquidation, (B) the Company is not in default in the payment of any interest or principal on such Securities, (C) if in the Issuer Trust has not been liquidatedcase of any series of Securities held by a Trust, such Issuer Trust is not in arrears on payments of Distributions on the Preferred Capital Securities issued by such Issuer Trust and no deferred Distributions are accumulated and (D) after such extension, Securities are rated not less than BBB- by S&P or Baa3 by Moodx'x xx the Securities shall not have a remaining term to maturity of more than 30 yearsequivalent by any other nationally recognized statistical rating organization. In the event the Company elects to shorten or extend the Stated Maturity of the Securities of such seriesSecurities, it shall give written notice to the Trustee, and the Trustee shall give notice of such shortening or extension to the Holders, no less than 30 and no more than 60 days prior to the effectiveness thereof. The Company's right to shorten the Stated Maturity of the principal of the Securities of such series pursuant to clause (i) above is subject to the Company having received (A) prior approval of the Federal Reserve if required under applicable capital guidelines or policies and (B) an opinion of nationally recognized independent counsel experienced in such matters to the effect that after the shortening of maturity, interest paid on the Securities will be deductible by the Company for United States federal income tax purposes; if the Securities are issued to a Trust, the holders of Capital Securities will not recognize income, gain or loss for United States federal income tax purposes as a result of the shortening of maturity, and will be taxed under United States federal income tax law in the same amount, in the manner and at the same times as would have been the case if the shortening of maturity had not occurred; and the shortening of maturity will not cause the Trust to be classified as other than a grantor trust for United States federal income tax purposes.

Shortening or Extension of Stated Maturity. If specified as contemplated by Section 2.1 2.01 or Section 3.1 2.02 with respect to the Securities of a particular series, the Corporation Company shall have the right to (i) shorten the Stated Maturity of the principal of the Securities of such series at any time to any date not earlier than the first date on which the Company has the right to redeem the Securities of such seriesSeries, and (ii) extend the Stated Maturity of the principal of the Securities of such series at any time at its election for one or more periods, but in no event to a date later than the 49th anniversary of the first Interest Payment Date interest payment date following the Original Issue Date of the Securities of such series; provided that, if the Company elects to exercise its right to extend the Stated Maturity of the principal of the Securities of such series pursuant to this clause (ii), above, at the time such election is made and at the time of extension (A) the Company is not in bankruptcy, otherwise insolvent or in liquidation, (B) the Company is not in default in the payment of any interest or principal on such Securities, (C) if in the Issuer case of any series of Securities issued to a Bear Stearns Trust has not been liquidated, such Issuer Bear Stearns Trust is not in arrears on payments of Distributions on the Preferred Capital Securities issued by such Issuer Bear Stearns Trust and no deferred Distributions are accumulated accumulated, and (D) after such extensionsxxx Xxxurities are rated not less than BBB- by Standard & Poor's Ratings Services or Baa3 by Moody's Investors Service, Inc. or the Securities shall not have a remaining term to maturity of more than 30 yearsequivalent by any other xxxxxxxlly recognized statistical rating organization. In the event the Company elects to shorten or extend the Stated Maturity of the Securities of such seriesSecurities, it shall give notice to the Trustee, and the Trustee shall give notice of such shortening or extension to the Holders, holders no less than 30 and no more than 60 days prior to the effectiveness thereof.

Shortening or Extension of Stated Maturity. If specified as contemplated by Section 2.1 2.01 or Section 3.1 2.02 with respect to the Securities of a particular series, the Corporation Company shall have the right to (i) shorten the Stated Maturity of the principal of the Securities of such series at any time to any date not earlier than the first date on which the Company has the right to redeem the Securities of such seriesSeries, and (ii) extend the Stated Maturity of the principal of the Securities of such series at any time at its election for one or more periods, but in no event to a date later than the 49th anniversary of the first Interest Payment Date interest payment date following the Original Issue Date of the Securities of such series; provided that, if the Company elects to exercise its right to extend the Stated Maturity of the principal of the Securities of such series pursuant to this clause (ii), above, at the time such election is made and at the time of extension (A) the Company is not in bankruptcy, otherwise insolvent or in liquidation, (B) the Company is not in default in the payment of any interest or principal on such Securities, (C) if in the Issuer case of any series of Securities issued to a Bear Xxxxxxx Trust has not been liquidated, such Issuer Bear Xxxxxxx Trust is not in arrears on payments of Distributions on the Preferred Securities issued by such Issuer Bear Xxxxxxx Trust and no deferred Distributions are accumulated accumulated, and (D) after such extensionSecurities are rated not less than BBB- by Standard & Poor's Ratings Services or Baa3 by Xxxxx'x Investors Service, Inc. or the Securities shall not have a remaining term to maturity of more than 30 yearsequivalent by any other nationally recognized statistical rating organization. In the event the Company elects to shorten or extend the Stated Maturity of the Securities of such seriesSecurities, it shall give notice to the Trustee, and the Trustee shall give notice of such shortening or extension to the Holders, holders no less than 30 and no more than 60 days prior to the effectiveness thereof.

Shortening or Extension of Stated Maturity. If specified as contemplated by Section 2.1 or Section 3.1 with respect to the Securities of a particular series, the Corporation shall have the right to (i) shorten the Stated Maturity of the principal of the Securities of such series at any time to any date not earlier than the first date on which the Company has the right to redeem the Securities of such series, series and (ii) extend the Stated Maturity of the principal of the Securities of such series at any time at its election for one or more periods, but in no event to a date later than the 49th anniversary of the first Interest Payment Date following the Original Issue Date of the Securities of such series; provided that, if the Company elects to exercise its right to extend the Stated Maturity of the principal of the Securities of such series pursuant to clause (ii), ) above, at the time such election is made and at the time of extension extension, (A) the Company is not in bankruptcy, otherwise insolvent or in liquidation, (B) the Company is not in default in the payment of any interest or principal on such Securities, (C) if the Issuer Trust has not been liquidated, such Issuer Trust is not in arrears on payments of Distributions on the Trust Preferred Securities issued by such Issuer Trust and no deferred Distributions are accumulated accumulated, and (D) after such extension, the Securities shall not have a remaining term to maturity of more than 30 years. In the event the Company elects to shorten or extend the Stated Maturity of the Securities of such series, it shall give notice to the Trustee, and the Trustee shall give notice of such shortening or extension to the Holders, no not less than 30 and no not more than 60 days prior to the effectiveness thereof.

Shortening or Extension of Stated Maturity. If specified as contemplated by Section 2.1 or Section 3.1 2.2 with respect to the Securities of a particular series, the Corporation Company shall have the right to (i) shorten the Stated Maturity of the principal of the Securities of such series at any time to any date not earlier than the first date on which the Company has the right right, if any, to redeem the Securities of such series, and (ii) extend the Stated Maturity of the principal of the Securities of such series at any time at its election for one or more periods, but in no event to a date later than the 49th anniversary of the first Interest Payment Date interest payment date following the Original Issue Date of the Securities of such series; provided that, if the Company elects to exercise its right to extend the Stated Maturity of the principal of the Securities of such series pursuant to this clause (ii), above, at the time such election is made and at the time of extension (A) the Company is not in bankruptcy, otherwise insolvent or in liquidation, (B) the Company is not in default in the payment of any interest or principal on such Securities, and (C) if such Securities are rated not less than [BBB-] by Standard & Poor’s Ratings Services or [Baa3] by Xxxxx’x Investors Service, Inc. or the Issuer Trust has not been liquidated, such Issuer Trust is not in arrears on payments of Distributions on the Preferred Securities issued equivalent by such Issuer Trust and no deferred Distributions are accumulated and (D) after such extension, the Securities shall not have a remaining term to maturity of more than 30 yearsany other nationally recognized statistical rating organization. In the event the Company elects to shorten or extend the Stated Maturity of the Securities of such a particular series, it shall give notice to the TrusteeTrustee (not less than 45 days prior to the effectiveness thereof), and the Trustee shall give notice of such shortening or extension to the Holders, no holders not less than 30 and no nor more than 60 days prior to the effectiveness thereof.

Shortening or Extension of Stated Maturity. If specified as contemplated by Section 2.1 or Section 3.1 with respect to the Securities of a particular series, the Corporation shall have the right to (i) shorten the Stated Maturity of the principal of the Securities of such series at any time to any date not earlier than the first date on which the Company has the right to redeem the Securities of such series, series and (ii) extend the Stated Maturity of the principal of the Securities of such series at any time at its election for one or more periods, but in no event to a date later than the 49th anniversary of the first Interest Payment Date following the Original Issue Date of the Securities of such series; provided that, if the Company elects to exercise its right to extend the Stated Maturity of the principal of the Securities of such series pursuant to clause (ii), above, at the time such election is made and at the time of extension (A) the Company is not in bankruptcy, otherwise insolvent or in liquidation, (B) the Company is not in default in the payment of any interest or principal on such Securities, (C) if the Issuer Trust has not been liquidated, such Issuer Trust is not in arrears on payments of Distributions on the Trust Preferred Securities issued by such Issuer Trust and no deferred Distributions are accumulated accumulated, (D) such Securities are rated not less than BBB- by S&P or Baa3 by Xxxxx'x or the equivalent by any other nationally recognized statistical rating organization and (DE) after such extension, the Securities shall not have a remaining term to maturity of more than 30 years. In the event the Company elects to shorten or extend the Stated Maturity of the Securities of such series, it shall give notice to the Trustee, and the Trustee shall give notice of such shortening or extension to the Holders, no not less than 30 and no not more than 60 days prior to the effectiveness thereof.

Shortening or Extension of Stated Maturity. If specified as contemplated by Section 2.1 or Section 3.1 with respect to the Securities of a particular series, the Corporation shall have the right to (i) shorten the Stated Maturity of the principal of the Securities of such series at any time to any date not earlier than the first date on which the Company has the right to redeem the Securities of such series, and (ii) extend the Stated Maturity of the principal of the Securities of such series at any time at its election for one or more periods, but in no event to a date later than the 49th anniversary of the first Interest Payment Date following the Original Issue Date of the Securities of such series; provided that, if the Company elects to exercise its right to extend the Stated Maturity of the principal of the Securities of such series pursuant to clause (ii), above, at the time such election is made and at the time of extension (A) the Company is not in bankruptcy, otherwise insolvent or in liquidation, (B) the Company is not in default in the payment of any interest or principal on such Securities, (C) if the Issuer Trust has not been liquidated, such Issuer Trust is not in arrears on payments of Distributions on the Preferred Capital Securities issued by such Issuer Trust and no deferred Distributions are accumulated accumulated, (D) such Securities are rated not less than BBB- by S&P or Baa3 by Moodx'x xx the equivalent by any other nationally recognized statistical rating organization and (DE) after such extension, the Securities shall not have a remaining term to maturity of more than 30 years. In the event the Company elects to shorten or extend the Stated Maturity of the Securities of such series, it shall give notice to the Trustee, and the Trustee shall give notice of such shortening or extension to the Holders, no less than 30 and no more than 60 days prior to the effectiveness thereof.

Shortening or Extension of Stated Maturity. If specified as contemplated by Section 2.1 2.01 or Section 3.1 2.02 with respect to the Securities of a particular series, the Corporation Company shall have the right to (i) shorten the Stated Maturity of the principal of the Securities of such series at any time to any date not earlier than the first date on which the Company has the right right, if any, to redeem the Securities of such series, and (ii) extend the Stated Maturity of the principal of the Securities of such series at any time at its election for one or more periods, but in no event to a date later than the 49th anniversary of the first Interest Payment Date interest payment date following the Original Issue Date of the Securities of such series; series; provided that, if the Company elects to exercise its right to extend the Stated Maturity of the principal of the Securities of such series pursuant to this clause (ii), above, at the time such election is made and at the time of extension (A) the Company is not in bankruptcy, otherwise insolvent or in liquidation, (B) the Company is not in default in the payment of any interest or principal on such Securities, (C) if in the Issuer Trust has not been liquidatedcase of any series of Securities issued to an Aon Trust, such Issuer Aon Trust is not in arrears on payments of Distributions on the Preferred Securities issued by such Issuer Aon Trust and no deferred Distributions are accumulated accumulated, and (D) after such extensionSecurities are rated not less than BBB- by Standard & Poor's Ratings Services or Baa3 by Xxxxx'x Investors Service, Inc. or the Securities shall not have a remaining term to maturity of more than 30 yearsequivalent by any other nationally recognized statistical rating organization. In the event the Company elects to shorten or extend the Stated Maturity of the Securities of such a particular series, it shall give notice to the TrusteeTrustee (not less than 45 days prior to the effectiveness thereof), and the Trustee shall give notice of such shortening or extension to the Holders, no holders not less than 30 and no nor more than 60 days prior to the effectiveness thereof.

Shortening or Extension of Stated Maturity. If specified as contemplated by Section 2.1 or Section 3.1 with respect to the Securities of a particular series, the Corporation Company shall have the right to (i) shorten the Stated Maturity of the principal of the Securities of such series at any time to any date not earlier than the first date on which the Company has the right to redeem the Securities of such series, and (ii) extend the Stated Maturity of the principal of the Securities of such series at any time at its election for one or more periods, but in no event to a date later than the 49th anniversary of the first Interest Payment Date following the Original Issue Date of the Securities of such series; provided that, if the Company elects to exercise its right to extend the Stated Maturity of the principal of the Securities of such series pursuant to clause (ii), above, at the time such election is made and at the time of extension (A) the Company is not in bankruptcy, otherwise insolvent or in liquidation, (B) the Company is not in default in the payment of any interest or principal on such Securities, (C) if in the Issuer Trust has not been liquidatedcase of any series of Securities held by a Trust, such Issuer Trust is not in arrears on payments of Distributions on the Preferred Securities issued by such Issuer Trust and no deferred Distributions are accumulated and (D) after such extension, Securities are rated not less than BBB- by S&P or Baa3 by Mooxx'x xx the Securities shall not have a remaining term to maturity of more than 30 yearsequivalent by any other nationally recognized statistical rating organization. In the event the Company elects to shorten or extend the Stated Maturity of the Securities of such seriesSecurities, it shall give written notice to the Trustee, and the Trustee shall give notice of such shortening or extension to the Holders, no less than 30 and no more than 60 days prior to the effectiveness thereof.. The Company's right to shorten the Stated Maturity of the principal of the Securities of such series pursuant to clause (i) above is subject to the Company having received (A) prior approval of the Federal Reserve if required under applicable capital guidelines or policies and (B) an opinion of nationally recognized independent counsel experienced in such matters to the effect that after the shortening of maturity, interest paid on the Securities will be deductible by the Company for United States federal income tax purposes; if the Securities are issued to a Trust, the holders of Preferred Securities will not recognize income, gain or loss for United States federal income tax purposes as a result of the shortening of maturity, and will be taxed under United States federal income tax law in the same amount, in the manner and at the same times as would have been the case if the

Shortening or Extension of Stated Maturity. If specified as contemplated by Section 2.1 201 or Section 3.1 301 with respect to the Securities of a particular series, the Corporation Company shall have the right to (i) shorten the Stated Maturity of the principal of the Securities of such series at any time to any date not earlier than the first date on which the Company has the right to redeem the Securities of such series, and (ii) extend the Stated Maturity of the principal of the Securities of such series at any time at its election for one or more periods, but in no event to a date later than the 49th anniversary of the first Interest Payment Date following the Original Issue Date of the Securities of such seriesDecember 31, 2045; provided that, if the Company elects to exercise its right to extend the Stated Maturity of the principal of the Securities of such series pursuant to clause (ii), above, at the time such election is made and at the time of extension (A) the Company is not in bankruptcy, otherwise insolvent or in liquidation, (B) the Company is not in default in the payment of any interest or principal on such Securities, (C) if in the Issuer Trust has not been liquidatedcase of any series of Securities issued to an Allstate Trust, such Issuer Allstate Trust is not in arrears on payments of Distributions on the Preferred Securities issued by such Issuer Allstate Trust and no deferred Distributions are accumulated and (D) after such extensionSecurities are rated not less than BBB- by Standard & Poor's Ratings Services or Baa3 by Moodx'x Xxxestors Service, Inc. or the Securities shall not have a remaining term to maturity of more than 30 yearsequivalent by any other nationally recognized statistical rating organization. In the event the Company elects to shorten or extend the Stated Maturity of the Securities of such seriesSecurities, it shall give notice to the Trustee, and the Trustee shall give notice of such shortening or extension to the Holders, no less than 30 and no more than 60 days prior to the effectiveness thereof.

Shortening or Extension of Stated Maturity. If specified as contemplated by Section 2.1 or Section 3.1 with respect to the Securities of a particular series, the Corporation Company shall have the right to (i) shorten the Stated Maturity of the principal of the Securities of such series at any time to any date not earlier than the first date on which the Company has the right to redeem the Securities of such series, and (ii) extend the Stated Maturity of the principal of the Securities of such series at any time at its election for one or more periods, but in no event to a date later than the 49th anniversary of the first Interest Payment Date following the Original Issue Date of the Securities of such series; provided that, if the Company elects to exercise its right to extend the Stated Maturity of the principal of the Securities of such series pursuant to clause (ii), above, at the time such election is made and at the time of extension (A) neither the Company nor the Guarantor is not in bankruptcy, otherwise insolvent or in liquidation, (B) the Company is not in default in the payment of any interest or principal on such Securities, (C) if in the Issuer Trust has not been liquidatedcase of any series of Securities issued to an FPC Capital Trust, such Issuer FPC Capital Trust is not in arrears on payments of Distributions on the Preferred Securities issued by such Issuer FPC Capital Trust and no deferred Distributions are accumulated and (D) after such extensionSecurities are rated not less than BBB- by S&P or Baa3 by Moody's, or the Securities shall not have a remaining term to maturity of more than 30 yearsequivalent by any other nationally recognized statistical orating organization. In the event the Company elects to shorten or extend the Stated Maturity of the Securities of such a particular series, it shall give notice to the Trustee, and the Trustee shall give notice of such shortening or extension to the Holders, no less than 30 and no more than 60 days prior to the effectiveness thereof. The Trustee shall give notice of such shortening or extension to the Holders promptly upon receipt.

Shortening or Extension of Stated Maturity. If specified as contemplated by Section 2.1 2.01 or Section 3.1 2.02 with respect to the Securities of a particular series, the Corporation Company shall have the right to (i) shorten the Stated Maturity of the principal of the Securities of such series at any time to any date not earlier than the first date on which the Company has the right right, if any, to redeem the Securities of such series, and (ii) extend the Stated Maturity of the principal of the Securities of such series at any time at its election for one or more periods, but in no event to a date later than the 49th anniversary of the first Interest Payment Date interest payment date following the Original Issue Date of the Securities of such series; provided that, if the Company elects to exercise its right to extend the Stated Maturity of the principal of the Securities of such series pursuant to this clause (ii), above, at the time such election is made and at the time of extension (A) the Company is not in bankruptcy, otherwise insolvent or in liquidation, (B) the Company is not in default in the payment of any interest or principal on such Securities, (C) if in the Issuer Trust has not been liquidatedcase of any series of Securities issued to an Aon Trust, such Issuer Aon Trust is not in arrears on payments of Distributions on the Preferred Securities issued by such Issuer Aon Trust and no deferred Distributions are accumulated accumulated, and (D) after such extensionSecurities are rated not less than BBB- by Standard & Poor’s Ratings Services or Baa3 by Xxxxx’x Investors Service, Inc. or the Securities shall not have a remaining term to maturity of more than 30 yearsequivalent by any other nationally recognized statistical rating organization. In the event the Company elects to shorten or extend the Stated Maturity of the Securities of such a particular series, it shall give notice to the TrusteeTrustee (not less than 45 days prior to the effectiveness thereof), and the Trustee shall give notice of such shortening or extension to the Holders, no holders not less than 30 and no nor more than 60 days prior to the effectiveness thereof.

Shortening or Extension of Stated Maturity. If specified as contemplated by Section 2.1 or Section 3.1 with respect to the Securities of a particular series, the Corporation shall have the right to (i) shorten the Stated Maturity of the principal of the Securities of such series at any time to any date not earlier than the first date on which the Company has the right to redeem the Securities of such series, and (ii) extend the Stated Maturity of the principal of the Securities of such series at any time at its election for one or more periods, but in no event to a date later than the 49th anniversary of the first Interest Payment Date following the Original Issue Date of the Securities of such series; provided that, if the Company elects to exercise its right to extend the Stated Maturity of the principal of the Securities of such series pursuant to clause (ii), above, at the time such election is made and at the time of extension (A) the Company is not in bankruptcy, otherwise insolvent or in liquidation, (B) the Company is not in default in the payment of any interest or principal on such Securities, (C) if the Issuer Trust has not been liquidated, such Issuer Trust is not in arrears on payments of Distributions on the Preferred Securities issued by such Issuer Trust and no deferred Distributions are accumulated accumulated, (D) such Securities are rated not less than BBB- by S&P or Baa3 by Moodx'x xx the equivalent by any other nationally recognized statistical rating organization and (DE) after such extension, the Securities shall not have a remaining term to maturity of more than 30 years. In the event the Company elects to shorten or extend the Stated Maturity of the Securities of such series, it shall give notice to the Trustee, and the Trustee shall give notice of such shortening or extension to the Holders, no less than 30 and no more than 60 days prior to the effectiveness thereof.

Shortening or Extension of Stated Maturity. If specified as contemplated by Section 2.1 2.01 or Section 3.1 2.02 with respect to the Securities of a particular series, the Corporation Company shall have the right to (i) shorten the Stated Maturity of the principal of the Securities of such series at any time to any date not earlier than the first date on which the Company has the right to redeem the Securities of such series, and (ii) extend the Stated Maturity of the principal of the Securities of such series at any time at its election for one or more periods, but in no event to a date later than the 49th anniversary of the first Interest Payment Date interest payment date following the Original Issue Date of the Securities of such series; provided that, if the Company elects to exercise its right to extend the Stated Maturity of the principal of the Securities of such series pursuant to this clause (ii), above, at the time such election is made and at the time of extension (A) the Company is not in bankruptcy, otherwise insolvent or in liquidation, (B) the Company is not in default in the payment of any interest or principal on such Securities, (C) if in the Issuer case of any series of Securities issued to a Bear Xxxxxxx Trust has not been liquidated, such Issuer Bear Xxxxxxx Trust is not in arrears on payments of Distributions on the Preferred Securities issued by such Issuer Bear Xxxxxxx Trust and no deferred Distributions are accumulated accumulated, and (D) after such extensionSecurities are rated not less than BBB- by Standard & Poor's Ratings Services or Baa3 by Xxxxx'x Investors Service, Inc. or the Securities shall not have a remaining term to maturity of more than 30 yearsequivalent by any other nationally recognized statistical rating organization. In the event the Company elects to shorten or extend the Stated Maturity of the Securities of such seriesSecurities, it shall give notice to the Trustee, and the Trustee shall give notice of such shortening or extension to the Holders, holders no less than 30 and no more than 60 days prior to the effectiveness thereof.

Shortening or Extension of Stated Maturity. If specified as contemplated by Section 2.1 or Section 3.1 2.2 with respect to the Securities of a particular series, the Corporation Company shall have the right to (i) shorten the Stated Maturity of the principal of the Securities of such series at any time to any date not earlier than the first date on which the Company has the right right, if any, to redeem the Securities of such series, and (ii) extend the Stated Maturity of the principal of the Securities of such series at any time at its election for one or more periods, but in no event to a date later than the 49th anniversary of the first Interest Payment Date interest payment date following the Original Issue Date of the Securities of such series; provided that, if the Company elects to exercise its right to extend the Stated Maturity of the principal of the Securities of such series pursuant to this clause (ii), above, at the time such election is made and at the time of extension (A) the Company is not in bankruptcy, otherwise insolvent or in liquidation, (B) the Company is not in default in the payment of any interest or principal on such Securities, (C) if in the Issuer Trust has not been liquidatedcase of any series of Securities issued to an Energy East Trust, such Issuer Energy East Trust is not in arrears on payments of Distributions on the Preferred Securities issued by such Issuer Energy East Trust and no deferred Distributions are accumulated accumulated, and (D) after such extensionSecurities are rated not less than BBB- by Standard & Poor's Ratings Services or Baa3 by Xxxxx'x Investors Service, Inc. or the Securities shall not have a remaining term to maturity of more than 30 yearsequivalent by any other nationally recognized statistical rating organization. In the event the Company elects to shorten or extend the Stated Maturity of the Securities of such a particular series, it shall give notice to the TrusteeTrustee (not less than 45 days prior to the effectiveness thereof), and the Trustee shall give notice of such shortening or extension to the Holders, no holders not less than 30 and no nor more than 60 days prior to the effectiveness thereof.

Shortening or Extension of Stated Maturity. If specified as contemplated by Section 2.1 or Section 3.1 with respect to the Securities of a particular series, the Corporation Company shall have the right to (i) shorten the Stated Maturity of the principal of the Securities of such series at any time to any date not earlier than the first date on which the Company has the right to redeem the Securities of such series, and (ii) extend the Stated Maturity of the principal of the Securities of such series at any time at its election for one or more periods, but in no event to a date later than the 49th anniversary of 49 years after the first Interest Payment Date following the Original Issue Date of the Securities of such series; provided that, if the Company elects to exercise its right to extend the Stated Maturity of the principal of the Securities of such series pursuant to clause (ii), ) above, at the time such election is made and at the time of extension (A) the Company is not in bankruptcy, otherwise insolvent or in liquidation, (B) the Company is not in default in the payment of any interest or principal on such Securities, (C) if the Issuer ASBC Trust has not been liquidated, holding Securities of such Issuer Trust series is not in arrears on payments of Distributions on the Preferred Capital Securities issued by such Issuer ASBC Trust and no deferred Distributions are accumulated and (D) after such extension, Securities are rated not less than BBB- by S&P or Baa3 by Xxxxx’x or the Securities shall not have a remaining term to maturity of more than 30 yearsequivalent by Fitch or any other nationally recognized statistical rating organization. In the event the Company elects to shorten or extend the Stated Maturity of the Securities of such any series, it shall give notice to the Trustee, and the Trustee shall give notice of such shortening or extension to the Holders, Holders thereof no less than 30 and no more than 60 days prior to the effectiveness thereof.