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 2.2 with respect to the Securities 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 the first date on which the Company has the 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 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), 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) in the case of any series of Securities issued to a Xxxxxx Capital Trust, such Xxxxxx Capital Trust is not in arrears on payments of Distributions on the Preferred Securities issued by such Xxxxxx Capital Trust and no deferred Distributions are accumulated, and (D) such 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. In the event the Company elects to shorten or extend the Stated Maturity of the Securities of a particular series, it shall give notice to the Trustee (not less than 45 days prior to the effectiveness thereof), and the Trustee shall give notice of such shortening or extension to the holders not less than 30 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 2.2 with respect to the Securities 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 the first date on which the Company has the 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 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), 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) in the case of any series of Securities issued to a Xxxxxx Capital Trust, such Xxxxxx Capital Trust is not in arrears on payments of Distributions on the Preferred Securities issued by such Xxxxxx Capital Trust and no deferred Distributions are accumulated, and (D) such Securities are rated not less than BBB- [BBB-] by Standard & Poor's ’s Ratings Services or Baa3 [Baa3] by Xxxxx'x Xxxxx’x Investors Service, Inc. or the equivalent 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 a particular series, it shall give notice to the Trustee (not less than 45 days prior to the effectiveness thereof), and the Trustee shall give notice of such shortening or extension to the holders not less than 30 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 2.2 3.1 with respect to the Securities 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 the first date on which the Company has the right, if any, 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 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) in the case ASBC Trust holding Securities of any such series of Securities issued to a Xxxxxx Capital Trust, such Xxxxxx Capital Trust is not in arrears on payments of Distributions on the Preferred Capital Securities issued by such Xxxxxx Capital ASBC Trust and no deferred Distributions are accumulated, accumulated and (D) 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. In the event the Company elects to shorten or extend the Stated Maturity of the Securities of a particular any series, it shall give notice to the Trustee (not less than 45 days prior to the effectiveness thereof)Trustee, and the Trustee shall give notice of such shortening or extension to the holders not Holders thereof no less than 30 nor 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 2.2 3.1 with respect to the Securities 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 the first date on which the Company has the right, if any, 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 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) in the case ASBC Trust holding Securities of any such series of Securities issued to a Xxxxxx Capital Trust, such Xxxxxx Capital Trust is not in arrears on payments of Distributions on the Preferred Capital Securities issued by such Xxxxxx Capital ASBC Trust and no deferred Distributions are accumulated, accumulated and (D) such Securities are rated not less than BBB- by Standard & Poor's Ratings Services S&P or Baa3 by Xxxxx'x Investors Service, Inc. Xxxxx’x or the equivalent 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 a particular any series, it shall give notice to the Trustee (not less than 45 days prior to the effectiveness thereof)Trustee, and the Trustee shall give notice of such shortening or extension to the holders not Holders thereof no less than 30 nor and no more than 60 days prior to the effectiveness thereof.