Common use of Deferral of Interest Payments Clause in Contracts

Deferral of Interest Payments. So long as no event of default has occurred and is occurring under the Indenture, the Company shall have the right at any time until the Stated Maturity of the Notes to defer the payment of interest on the Notes as provided therein for a period of time not extending beyond the Stated Maturity (each such period of deferral, an "Extension Period"). If the Company so elects to defer interest payments on the Notes, the Company shall pay at the end of the Extension Period all interest then accrued and unpaid, together with accrued interest at the Coupon Rate or the Reset Rate, as applicable, compounded on each succeeding Payment Date.]

Deferral of Interest Payments. So long as no event of default has occurred and is occurring under the Indenture, the Company shall have the right at any time until the Stated Maturity of the Notes to defer the payment of interest on the Notes as provided therein for a period of time not extending beyond the Stated Maturity (each such period of deferral, an "Extension Period"). If the Company so elects elect to defer interest payments on the Notes, the Company shall be required to pay at the end of the Extension Period all interest then accrued and unpaid, together with accrued interest at the Coupon Rate or the Reset Rate, as applicable, compounded on each succeeding Payment Date.]