Optional Deferral Period definition

Optional Deferral Period has the meaning specified in Section 4.1.

Optional Deferral Period means the period commencing on an Interest Payment Date with respect to which the Company defers interest pursuant to Section 2.8 and ending on the earlier of (i) the fifth anniversary of that Interest Payment Date and (ii) the next Interest Payment Date on which the Company has paid all deferred and unpaid amounts (including compounded interest on such deferred amounts) and all other accrued interest on the Debentures.

Optional Deferral Period means the period commencing on an Interest Payment Date with respect to which the Company elects or is deemed to elect to defer interest pursuant to Section 1.04 of this Second Supplemental Indenture and ending on the earlier of (i) the fifth anniversary of that Interest Payment Date and (ii) the next Interest Payment Date on which the Company has paid all accrued and unpaid deferred interest, including compounded interest, on the Debentures.

Examples of Optional Deferral Period in a sentence

• If the Company shall have paid all deferred interest (including Compound Interest, if any) on the Notes, the Company shall have the right to elect to begin a new Optional Deferral Period pursuant to this Section 2.1(e).

• Notice of the Company’s election to commence or continue an Optional Deferral Period shall either be mailed to the registered address of each Holder of the Notes or provided by electronic mail or facsimile, or by such other notice method permitted by the Original Indenture, to the Trustee for transmission to the Depositary or its nominee.

• Notwithstanding the foregoing, the failure of the Company to provide notice in accordance with this Section 2.1(e) of its election to commence or continue any Optional Deferral Period, including any deemed election as provided in this Section 2.1(e), shall not affect the validity of such deferral hereunder and shall not constitute an Event of Default.

• The Company shall provide written notice to the Trustee and the Holders of the Notes of its election to commence or continue any Optional Deferral Period at least one Business Day and not more than sixty Business Days prior to the applicable Interest Payment Date.

• On the fifth anniversary of the first Interest Payment Date during any Optional Deferral Period, the Company must pay all accrued and unpaid deferred interest (including Compound Interest, if any), on the Notes, and the Company’s failure to pay all such accrued and unpaid deferred interest for a period of 30 days shall constitute an Event of Default.

More Definitions of Optional Deferral Period

Optional Deferral Period means the period of time commencing on an Interest Payment Date with respect to which the Company has optionally deferred payment of Interest pursuant to Section 4.1(a) and ending upon the earlier of (a) the Interest Payment Date on which all Deferred Interest and Current Interest to, but not including, such Interest Payment Date shall have been paid and (b) the first Interest Payment Date on which the Company shall have deferred payment of some or all of the Interest due on a number of consecutive Interest Payment Dates with respect to consecutive Interest Periods which, taken together as a single period, would equal or exceed ten (10) consecutive years.

Optional Deferral Period has the meaning provided in Section 4.1 hereof.

Optional Deferral Period has the meaning specified in the Indenture.

Optional Deferral Period means each period beginning on an Interest Payment Date with respect to which the Company elects pursuant to Section 2.1(g) to defer all or part of any interest payment payable on such date and ending on the earlier of (a) the tenth anniversary of such Interest Payment Date and (b) the next Interest Payment Date on which the Company has paid all Deferred Interest (including Additional Interest thereon).

Optional Deferral Period shall have the meaning specified in Section 2.04(a).

Optional Deferral Period has the meaning specified in Section 1.2 of the Supplemental Indenture.

Optional Deferral Period has the meaning set forth in Section 104 of this First Supplemental Indenture.