Common use of Supplement to Article Two of the Original Indenture Clause in Contracts

Supplement to Article Two of the Original Indenture. The Original Indenture is supplemented with respect to the Notes by revising the second sentence within the second full paragraph of Section 204(c) to read as follows: Upon receipt of such notice, or if either (1) the Depositary notifies the Company that it is unwilling or unable to continue as Depositary for any Book-Entry Securities representing the Notes and a successor Depositary is not appointed by the Company within 90 days of such notice or (2) an Event of Default has occurred with respect to the Notes and is continuing and the Security Registrar has received a request from the Depositary or the Trustee to issue Registered Securities not in global form, then in any such case the Depositary shall promptly surrender or cause the surrender of its Book-Entry Security or Securities to the Trustee. Concurrently therewith (or within 30 days of any request referred to in the preceding clause (2) of this paragraph), Registered Securities not issued in global form will be issued in an aggregate principal amount equal to the principal amount of the Book-Entry Security or Securities theretofore held by or on behalf of the Depositary.

Appears in 2 contracts

Samples: Supplemental Indenture (Pride International Inc), Supplemental Indenture (Pride International Inc)

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Supplement to Article Two of the Original Indenture. The Original Indenture is supplemented with respect to the Notes Debentures by revising the second sentence within the second full paragraph of Section 204(c) to read as follows: Upon receipt of such notice, or if either (1) the Depositary notifies the Company that it is unwilling or unable to continue as Depositary for any Book-Entry Securities representing the Notes Debentures and a successor Depositary is not appointed by the Company within 90 days of such notice or (2) an Event of Default has occurred with respect to the Notes Debentures and is continuing and the Security Registrar has received a request from the Depositary or the Trustee to issue Registered Securities not in global form, then in any such case the Depositary shall promptly surrender or cause the surrender of its Book-Entry Security or Securities to the Trustee. Concurrently therewith (or within 30 days of any request referred to in the preceding clause (2) of this paragraph), Registered Securities not issued in global form will be issued in an aggregate principal amount equal to the principal amount of the Book-Entry Security or Securities theretofore held by or on behalf of the Depositary.

Appears in 2 contracts

Samples: Supplemental Indenture (Pride International Inc), Pride International Inc

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