Common use of Debentures Due on Redemption Dates Clause in Contracts

Debentures Due on Redemption Dates. Debentures called for redemption become due on the date fixed for redemption. On and after such redemption date, interest shall cease to accrue on Debentures or portions thereof called for redemption so long as the Issuer has deposited with the Paying Agent funds in satisfaction of the applicable redemption price (including accrued and unpaid interest on the Debentures to be redeemed) pursuant to this Indenture. If any optional redemption date is on or after an interest record date and on or before the related Interest Payment Date, the accrued and unpaid interest, if any, shall be paid to the Person in whose name the Debenture is registered at the close of business on such record date, and no additional interest shall be payable to Holders whose Debentures shall be subject to redemption by the Issuer.