SPECIAL TAX EVENT CONVERSION. SECTION 10.01. Optional Conversion to Semi-Annual Coupon Note Upon Tax Event.................................................... 44
SPECIAL TAX EVENT CONVERSION. SECTION 10.01 Optional Conversion to Semiannual Coupon Note upon Tax Event................................. 50 SECTION 10.02 Payment of Interest; Interest Rights Preserved............................................... 51
SPECIAL TAX EVENT CONVERSION. Section 10.01. Optional Conversion to Semi-annual Coupon Note Upon Tax Event................................55 Section 10.02. Paying Agent To Hold Money in Trust..........................................................56 Section 10.03. Securityholder Lists.........................................................................56 Section 10.04. Payment of Interest; Interest Rights Preserved...............................................56 ARTICLE 11
SPECIAL TAX EVENT CONVERSION. A new Article Sixteen is hereby added to the Indenture, but only with respect to the Debentures issued in accordance with the provisions hereof, as follows: ARTICLE SIXTEEN
SPECIAL TAX EVENT CONVERSION. From and after the date (the "Tax Event Date") of the occurrence of a Tax Event, at the option of the Company, interest in lieu of future Original Issue Discount and regular cash interest shall accrue at 3.5% per annum on a principal amount per Security (the "Restated Principal Amount") equal to the Issue Price plus Original Issue Discount accrued to the date immediately prior to the Tax Event Date or the date on which the Company exercises the option described in this paragraph, whichever is later (such date hereunder referred to as the "Option Exercise Date"), and shall be payable semiannually on each Interest Payment Date to holders of record at the close of business on the Regular Record Date immediately preceding such Interest Payment Date. In the event the Company exercises such option upon a Tax Event, interest will be computed on the basis of a 360-day year comprised of twelve 30-day months and will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the Option Exercise Date.
SPECIAL TAX EVENT CONVERSION. 35 ARTICLE EIGHT MISCELLANEOUS
SPECIAL TAX EVENT CONVERSION. New Marriott shall have ---------------------------- the sole power to elect, pursuant to Article 12 of the Indenture, to make cash interest payments, and SMS agrees to make cash interest payments on the SMS Allocable Payment Obligation in the event New Marriott makes such election.
SPECIAL TAX EVENT CONVERSION. SECTION 401 Optional Conversion to Semi-Annual Coupon Note upon Tax Event. From and after (i) the date of the occurrence of a Tax Event (the "Tax Event Date") and (ii) the date the Company exercises its option set forth in this Section 401, whichever is later (the "Option Exercise Date"), at the option of the Company, interest in lieu of future Original Issue Discount and regular cash interest shall accrue at the rate of 2.25% per annum on a restated principal amount per $1,000 original Principal Amount at Maturity (the "Restated Principal Amount") equal to the Issue Price plus Original Issue Discount accrued to the Option Exercise Date and shall be payable semi-annually on each Interest Payment Date to Holders of record at the close of business on the Regular Record Date immediately preceding such Interest Payment Date. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months and will accrue from the most recent date on which interest (in lieu of Original Issue Discount and regular cash interest) has been paid or, if no interest (in lieu of Original Issue Discount and regular cash interest) has been paid, from the Option Exercise Date. Within 15 days of the occurrence of a Tax Event, the Company shall deliver a written notice of such Tax Event by facsimile and first-class mail to the Trustee, and within 15 days of its
SPECIAL TAX EVENT CONVERSION. SECTION 1601 Optional Conversion to Interest-Bearing Securities Upon Tax Event From and after (i) the date (the "Tax Event Date") of the occurrence of a Tax Event and (ii) the date the Company exercises such option, whichever is later (the "Option Exercise Date"), at the option of the Company with respect to its 40 44
SPECIAL TAX EVENT CONVERSION. SECTION 401. Optional Conversion to Semi-Annual Cash Pay Note Upon Tax Event..........44
