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

Shortening or Extension of Stated Maturity. Notwithstanding anything contained herein or in the Indenture to the contrary, the Company shall have the right to (i) shorten the Stated Maturity of the principal of the Securities at any time to any date not earlier than , 20 , and (ii) extend the Stated Maturity of the principal of the Securities at any time at its election for one or more periods, but in no event to a date later , 20 ; provided that, if the Company elects to exercise its right to extend the Stated Maturity of the principal of the Securities 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 the Securities, (C) in the case of the Securities held by PLC Capital, PLC Capital is not in arrears on payments of Distributions (as defined in the Declaration of Trust) on the Preferred Securities and no deferred Distributions are accumulated and (D) the Securities are rated not less than BBB- by Standard & Poor's Ratings Services or Baa3 by Xxxxx'x Investors Service, Inc. or the equivalent by any other nationally recognized statistical rating organization; provided, further, that the Company may at any time irrevocably waive its right to extend the Stated Maturity date. In the event the Company elects to shorten or extend the Stated Maturity of the Securities or to irrevocably waive its right to extend the Stated Maturity of the Securities, it shall give notice to the Trustee, and the Trustee shall give notice of such shortening or extension or waiver to the Holders of the Securities, no less than 30 and no more than 90 days prior to the effectiveness thereof.

Shortening or Extension of Stated Maturity. Notwithstanding anything contained herein If specified as contemplated by Section 2.1 or in the Indenture Section 3.1 with respect to the contrarySecurities of a particular series, the 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 , 20 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 , 20 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 shall not be in bankruptcy, otherwise insolvent or in liquidation, (B) the Company is shall not be in default in the payment of any interest or principal on the such Securities, (C) in if the case of the Securities held by PLC CapitalIssuer Trust has not been liquidated, PLC Capital is such Issuer Trust shall not be in arrears on payments of Distributions (as defined in the Declaration of Trust) on the Preferred Capital Securities issued by such Issuer Trust and no deferred Distributions are accumulated and accumulated, (D) the such Securities are shall be rated not less than BBB- by Standard & Poor's Ratings Services S&P or Baa3 by Xxxxx'x Investors Service, Inc. or the equivalent by any other nationally recognized statistical rating organization; providedorganization and (E) after such extension, further, that the Company may at any time irrevocably waive its right Securities shall not have a remaining term to extend the Stated Maturity datematurity of more than 30 years. In the event the Company elects to shorten or extend the Stated Maturity of the Securities or to irrevocably waive its right to extend the Stated Maturity of the Securitiessuch series, it shall give notice to the Trustee, and the Trustee shall give notice of such shortening or extension or waiver to the Holders of the SecuritiesHolders, no less than 30 and no more than 90 60 days prior to the effectiveness thereof.

Shortening or Extension of Stated Maturity. Notwithstanding anything contained herein If specified as contemplated by Section 2.1 or in the Indenture Section 3.1 with respect to the contrarySecurities of a particular series, the 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 , 20 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 , 20 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 the such Securities, (C) in the case of the any series of Securities held by PLC Capitalissued to a Compass Trust, PLC Capital such Compass Trust is not in arrears on payments of Distributions (as defined in the Declaration of Trust) on the Preferred Capital Securities issued by such Compass Trust and no deferred Distributions are accumulated and (D) the such Securities are rated not less than BBB- by Standard & Poor's Ratings Services S&P or Baa3 by Xxxxx'x Investors Service, Inc. Moody's or the equivalent by any other nationally recognized statistical rating statistxxxx xxting organization; provided, further, that the Company may at any time irrevocably waive its right to extend the Stated Maturity date. In the event the Company elects to shorten or extend the Stated Maturity of the Securities or to irrevocably waive its right to extend the Stated Maturity of the Securitiesany series, it shall give notice to the Trustee, and the Trustee shall give notice of such shortening or extension or waiver to the Holders of the Securities, thereof no less than 30 thirty (30) and no more than 90 sixty (60) days prior to the effectiveness thereof.

Shortening or Extension of Stated Maturity. Notwithstanding anything contained herein If ------------------------------------------- specified as contemplated by Section 2.01 or in the Indenture Section 3.01 with respect to the contrarySecurities of a particular series, the 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 , 20 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 , 20 than the 49th anniversary of 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 the such Securities, (C) in the case of the any series of Securities held by PLC Capitala Trust, PLC Capital such Trust is not in arrears on payments of Distributions (as defined in the Declaration of Trust) on the Preferred Securities issued by such Trust and no deferred Distributions are accumulated and (D) the such Securities are rated not less than BBB- by Standard & Poor's Ratings Services S&P or Baa3 by Xxxxx'x Investors Service, Inc. or the equivalent by any other nationally recognized statistical rating organization; provided, further, that the Company may at any time irrevocably waive its right to extend the Stated Maturity date. In the event the Company elects to shorten or extend the Stated Maturity of the Securities or to irrevocably waive its right to extend the Stated Maturity of the Securitiesa particular series, it shall give written notice to the Trustee, and the Trustee shall give notice of such shortening or extension or waiver to the Holders of the SecuritiesHolders, no less than 30 and no more than 90 60 days prior to the effectiveness thereof.

Shortening or Extension of Stated Maturity. Notwithstanding anything contained herein or in the Indenture to the contrary, the Company shall have the right to (i) shorten the Stated Maturity of the principal of the Securities at any time to any date not earlier than ________, 20 2002, and (ii) extend the Stated Maturity of the principal of the Securities at any time at its election for one or more periods, but in no event to a date later than________, 20 2046; provided that, if the Company elects to exercise its right to extend the Stated Maturity of the principal of the Securities 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 the Securities, (C) in the case of the Securities held by PLC Capital, PLC Capital is not in arrears on payments of Distributions (as defined in the Declaration of Trust) on the Preferred Securities and no deferred Distributions are accumulated and (D) the Securities are rated not less than BBB- by Standard & Poor's Ratings Services or Baa3 by Xxxxx'x Investors Service, Inc. or the equivalent by any other nationally recognized statistical rating organization; provided, further, that the Company may at any time irrevocably waive its right to extend the Stated Maturity date. In the event the Company elects to shorten or extend the Stated Maturity of the Securities or to irrevocably waive its right to extend the Stated Maturity of the Securitiesas provided above, it shall give notice to the Trustee, and the Trustee shall give notice of such shortening or extension or waiver to the Holders of the Securities, no less than 30 and no more than 90 days prior to the effectiveness thereof.

Shortening or Extension of Stated Maturity. Notwithstanding anything contained herein If specified as contemplated by Section 2.1 or in the Indenture Section 3.1 with respect to the contrarySecurities of a particular series, the Company 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 Corporation has the right to redeem the Securities of such series, 20 , provided that the repayment of principal shall include any premium so that the total repayment equals the redemption price applicable on such Stated Maturity 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 , 20 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 the such Securities, (C) in the case of the any series of Securities held by PLC Capitalissued to an Issuer Trust, PLC Capital such Issuer Trust is not in arrears on payments of Distributions (as defined in the Declaration of Trust) on the Preferred Securities issued by an Issuer Trust and no deferred Distributions are accumulated and (D) the such Securities are rated not less than BBB- by Standard & Poor's Ratings Services S&P or Baa3 by Xxxxx'x Investors Service, Inc. or Moodx'x xx the equivalent by any other nationally recognized statistical rating organization; provided, further, that the Company may at any time irrevocably waive its right to extend the Stated Maturity date. In the event the Company Corporation elects to shorten or extend the Stated Maturity of the Securities or to irrevocably waive its right to extend the Stated Maturity any series of the Securities, it shall give notice to the Trustee, and the Trustee shall give notice of such shortening or extension or waiver to the Holders of the SecuritiesHolders, no less than 30 and no more than 90 days prior to the effectiveness thereof.

Shortening or Extension of Stated Maturity. Notwithstanding anything contained herein If specified as contemplated by Section 2.1 or in the Indenture Section 3.1 with respect to the contrarySecurities of a particular series, the 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 , 20 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 , 20 than 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 the such Securities, (C) in the case ASBC Trust holding Securities of the Securities held by PLC Capital, PLC Capital such series is not in arrears on payments of Distributions (as defined in the Declaration of Trust) on the Preferred Capital Securities issued by such ASBC Trust and no deferred Distributions are accumulated and (D) the such Securities are rated not less than BBB- by Standard & Poor's Ratings Services S&P or Baa3 by Xxxxx'x Investors Service, Inc. Moody's or the equivalent by Fitch or any other nationally recognized statistical recognizxx xxxxistical rating organization; provided, further, that the Company may at any time irrevocably waive its right to extend the Stated Maturity date. In the event the Company elects to shorten or extend the Stated Maturity of the Securities or to irrevocably waive its right to extend the Stated Maturity of the Securitiesany series, it shall give notice to the Trustee, and the Trustee shall give notice of such shortening or extension or waiver to the Holders of the Securities, thereof no less than 30 and no more than 90 60 days prior to the effectiveness thereof.

Shortening or Extension of Stated Maturity. Notwithstanding anything contained herein or in the Indenture to the contrary, the Company shall have the right to (i) shorten the Stated Maturity of the principal of the Securities at any time to any date not earlier than ________, 20 2002, and (ii) extend the Stated Maturity of the principal of the Securities at any time at its election for one or more periods, but in no event to a date later than________, 20 2046; provided that, if the Company elects to exercise its right to extend the Stated Maturity of the principal of the Securities 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 the Securities, (C) in the case of the Securities held by PLC Capital, PLC Capital is not in arrears on payments of Distributions (as defined in the Declaration of Trust) on the Preferred Securities and no deferred Distributions are accumulated and (D) the such Preferred Securities are rated not less than BBB- by Standard & Poor's Ratings Services or Baa3 by Xxxxx'x Investors Service, Inc. or the equivalent by any other nationally recognized statistical rating organization; provided, further, that the Company may at any time irrevocably waive its right to extend the Stated Maturity date. In the event the Company elects to shorten or extend the Stated Maturity of the Securities or to irrevocably waive its right to extend the Stated Maturity of the Securitiesas provided above, it shall give notice to the Trustee, and the Trustee shall give notice of such shortening or extension or waiver to the Holders of the Securities, no less than 30 and no more than 90 days prior to the effectiveness thereof.

Shortening or Extension of Stated Maturity. Notwithstanding anything contained herein If specified as contemplated by Section 2.01 or in the Indenture Section 2.02 with respect to the contrarySecurities of a particular series, the 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 , 20 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 , 20 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 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 the such Securities, (C) in the case of the any series of Securities held by PLC Capital, PLC Capital issued to a Bear Stearns Trust such Bear Stearns Trust is not in arrears on payments of Distributions (as defined in the Declaration of Trust) on the Preferred Capital Securities issued by such Bear Stearns Trust and no deferred Distributions are accumulated accumulated, and (D) the Securities sxxx Xxxurities are rated not less than BBB- by Standard & Poor's Ratings Services or Baa3 by Xxxxx'x Moody's Investors Service, Inc. or the equivalent by any other nationally xxxxxxxlly recognized statistical rating organization; provided, further, that the Company may at any time irrevocably waive its right to extend the Stated Maturity date. In the event the Company elects to shorten or extend the Stated Maturity of the Securities or to irrevocably waive its right to extend the Stated Maturity of the Securities, it shall give notice to the Trustee, and the Trustee shall give notice of such shortening or extension or waiver to the Holders of the Securities, holders no less than 30 and no more than 90 60 days prior to the effectiveness thereof.

Shortening or Extension of Stated Maturity. Notwithstanding anything contained herein or in the Indenture to the contrary, the Company shall have the right to (i) shorten the Stated Maturity of the principal of the Securities at any time to any date not earlier than __________, 20 20__, and (ii) extend the Stated Maturity of the principal of the Securities at any time at its election for one or more periods, but in no event to a date later __________, 20 20__; provided that, if the Company elects to exercise its right to extend the Stated Maturity of the principal of the Securities 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 the Securities, (C) in the case of the Securities held by PLC Capital, PLC Capital is not in arrears on payments of Distributions (as defined in the Declaration of Trust) on the Preferred Securities and no deferred Distributions are accumulated and (D) the Securities are rated not less than BBB- by Standard & Poor's Ratings Services or Baa3 by Xxxxx'x Investors Service, Inc. or the equivalent by any other nationally recognized statistical rating organization; provided, further, that the Company may at any time irrevocably waive its right to extend the Stated Maturity date. In the event the Company elects to shorten or extend the Stated Maturity of the Securities or to irrevocably waive its right to extend the Stated Maturity of the Securities, it shall give notice to the Trustee, and the Trustee shall give notice of such shortening or extension or waiver to the Holders of the Securities, no less than 30 and no more than 90 days prior to the effectiveness thereof.

Shortening or Extension of Stated Maturity. Notwithstanding anything contained herein If specified as contemplated by Section 2.1 or in the Indenture Section 3.1 with respect to the contrarySecurities of a particular series, the Company Group 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 , 20 the first date on which Group 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 , 20 than the 49th anniversary of the Original Issue Date of the Securities of such series; provided that, if the Company Group 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 Group is not in bankruptcy, otherwise insolvent or in liquidation, (B) the Company Group is not in default in the payment of any interest or principal on the such Securities, (C) in the case of the any series of Securities held by PLC Capitala Company, PLC Capital such Company is not in arrears on payments of Distributions (as defined in the Declaration of Trust) on the Preferred Securities issued by such Company and no deferred Distributions are accumulated and accumulated, (D) the such Securities are rated not less than BBB- BBB-by Standard & Poor's Ratings Services S&P or Baa3 by Xxxxx'x Investors Service, Inc. or Moodx'x xx the equivalent by any other nationally recognized statistical rating organization; provided, further, that organization and (E) the Company may at any time irrevocably waive its right Securities will not have a remaining period to extend the Stated Maturity datematurity of more than 30 years after such extension. In the event the Company Group elects to shorten or extend the Stated Maturity of the Securities or to irrevocably waive its right to extend the Stated Maturity of the any Securities, it shall give written notice to the Trustee, and the Trustee shall give notice of such shortening or extension or waiver to the Holders of the SecuritiesHolders, no less than 30 and no more than 90 60 days prior to the effectiveness thereof.

Shortening or Extension of Stated Maturity. Notwithstanding anything contained herein If specified as contemplated by Section 2.1 or in the Indenture Section 3.1 with respect to the contrarySecurities of a particular series, the 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 , 20 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 , 20 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 the such Securities, (C) in the case of the any series of Securities held by PLC Capitalissued to an FPC Capital Trust, PLC such FPC Capital Trust is not in arrears on payments of Distributions (as defined in the Declaration of Trust) on the Preferred Securities issued by such FPC Capital Trust and no deferred Distributions are accumulated and (D) the such Securities are rated not less than BBB- by Standard & Poor's Ratings Services S&P or Baa3 by Xxxxx'x Investors ServiceMoody's, Inc. or the equivalent by any other nationally recognized statistical rating orating organization; provided, further, that the Company may at any time irrevocably waive its right to extend the Stated Maturity date. In the event the Company elects to shorten or extend the Stated Maturity of the Securities or to irrevocably waive its right to extend the Stated Maturity of the Securitiesa particular series, it shall give notice to the Trustee, 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 or waiver to the Holders of the Securities, no less than 30 and no more than 90 days prior to the effectiveness thereofpromptly upon receipt.