Common use of DEFERRAL OF PAYMENT DATES FOR CONTRACT FEE Clause in Contracts

DEFERRAL OF PAYMENT DATES FOR CONTRACT FEE. So long as no default in the Company's obligations under the Principal Agreements has occurred and is continuing, the Company shall have the right, at any time prior to the Stock Purchase Date, to defer the payment of any or all of the Contract Fees, if any, otherwise payable by the Company on any Quarterly Payment Date, but only if the Company shall give the Holders and the Unit Agent written notice of its election to defer such payment (specifying the amount to be deferred) at least five Business Days prior to the earlier of (a) the next succeeding Quarterly Payment Date or (b) the date the Company is required to give notice of the Record Date or Quarterly Payment Date with respect to payment of such Contract Fee to the NYSE or other applicable self-regulatory organization or to Holders, or (c) the Record Date for such Quarterly Payment Date. Any Contract Fees so deferred shall bear additional Contract Fees thereon at a rate per annum equal to the Contract Fee Rate (computed on the basis of a 360-day year of twelve 30-day months), compounding on each succeeding Quarterly Payment Date, until paid in full. Deferred Contract Fees (and additional Contract Fees accrued thereon) shall be due on the next succeeding Quarterly Payment Date except to the extent that payment is deferred pursuant to this Section. No Contract Fees may be deferred to a date that is after the Stock Purchase Date. In the event the Company exercises its option to defer the payment of Contract Fees (if any) payable by it, then, until all deferred Contract Fees (including additional Contract Fees accrued thereon) have been paid in full, the Company shall not (a) declare or pay any dividends or distributions on, or redeem, purchase, acquire, or make a liquidation payment with respect to, any of the Company's capital stock, (b) make any payment of principal, interest or premium, if any, on or repay, repurchase or redeem any debt securities of the Company that rank part passu with or junior in right of payment to the Contract Fees or (c) make any guarantee payments with respect to any guarantee by the Company of any securities of any subsidiary of the Company if such guarantee ranks pari passu or junior in right of payment to the Contract Fees (other than, in the case of clauses (a), (b) and (c), (i) dividends or distributions in shares of, or options, warrants or rights to subscribe for or purchase shares of, common stock of the Company, (ii) any declaration of a dividend in connection with the implementation of a stockholder's rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (iii) payments under the Company's guarantee of the QUIPS, (iv) as a result of a reclassification of the Company's capital stock solely into shares of one or more classes or series of the Company's capital stock or the exchange or conversion of one class or series of the Company's capital stock for another class or series of the Company's capital stock, (v) the purchase of fractional interests in shares of the Company's capital stock pursuant to the conversion or exchange provisions of such capital stock or the securities being converted or exchanged and (vi) purchases of common stock in connection with the satisfaction by the Company of its obligations under any of the Company's benefit plans for its and its subsidiaries' directors, officers or employees or any of the company's dividend reinvestment plans). If any Contract Fees are payable by a Holder to the Company and payments made in respect of Pledged Securities underlying such Holder's Units are insufficient to cover such Holder's obligation to pay such Contract Fees, such obligation shall be deferred until the earlier of the date sufficient cash is available and the Stock Purchase Date. Any such Contract Fees so deferred shall bear additional Contract Fees thereon at a rate per annum equal to the Contract Fee Rate (computed on the basis of a 360-day year of twelve 30-day months), compounding on each succeeding Quarterly Payment Date, until paid in full.

DEFERRAL OF PAYMENT DATES FOR CONTRACT FEE. So long as no default in the Company's obligations under the Principal Agreements has occurred and is continuing, the Company shall have the right, at any time prior to the Stock Purchase Final Settlement Date, to defer the payment of any or all of the Contract Fees, if any, Fees otherwise payable by the Company on any Quarterly Semi-Annual Payment Date, but only if the Company shall give the Holders and the Unit Agent written notice of its election to defer such payment (specifying the amount to be deferred) at least five Business Days prior to the earlier of (a) the next succeeding Quarterly such Semi-Annual Payment Date or (b) the date the Company is required to give notice of such Semi-Annual Payment Date or the Record Date or Quarterly Payment Date with respect to payment of such Contract Fee therefor to the NYSE or other applicable self-regulatory organization or to Holders, or (c) the Record Date for such Quarterly Semi-Annual Payment Date. Any Contract Fees so deferred shall bear additional Contract Fees thereon at a rate per annum equal to the Contract Fee Deferral Rate (computed on the basis of a 360-day year of twelve 30-day months), compounding on each succeeding Quarterly Semi-Annual Payment Date, until paid in full. Deferred Contract Fees (and additional Contract Fees accrued thereon) shall be due on the next succeeding Quarterly Semi-Annual Payment Date except to the extent that payment is deferred pursuant to this Section. No Contract Fees may be deferred to a date that is after the Stock Purchase Final Settlement Date. In the event the Company exercises its option to defer the payment of Contract Fees (if any) payable by it, then, until all deferred Contract Fees (including additional Contract Fees accrued thereon) have been paid in full, the Company shall not (a) declare or pay any dividends or distributions on, or redeem, purchase, acquire, or make a liquidation payment with respect to, any of the Company's capital stock, (b) make any payment of principal, interest or premium, if any, on or repay, repurchase or redeem any debt securities of the Company that rank part passu with or junior in right of payment to the Contract Fees or (c) make any guarantee payments with respect to any guarantee by the Company of any securities of any subsidiary of the Company if such guarantee ranks pari passu or junior in right of payment to the Contract Fees stock (other than, in the case of clauses (a), (b) and (c), than (i) dividends or distributions in shares of, or options, warrants or rights to subscribe for or purchase shares of, common stock of the Company, (ii) any declaration of a dividend in connection with the implementation of a stockholder's rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (iii) payments under the Company's guarantee of the QUIPS, (iv) as a result of a reclassification of the Company's capital stock solely into shares of one or more classes or series of the Company's capital stock or the exchange or conversion of one class or series of the Company's capital stock for another class or series of the Company's capital stock, (viv) the purchase of fractional interests in shares of the Company's capital stock pursuant to the conversion or exchange provisions of such capital stock or the securities being converted or exchanged and (viv) purchases of common stock in connection with the satisfaction by the Company of its obligations under any employment contract, incentive plan, benefit plan or similar arrangement of the Company or any of its subsidiaries or in connection with a dividend reinvestment plan or stock purchase plan of the Company's benefit plans for its and its subsidiaries' directors, officers or employees or any of the company's dividend reinvestment plans). If any Contract Fees are payable by a Holder to the Company and payments made in respect of Pledged Securities underlying such Holder's Units are insufficient to cover such Holder's obligation to pay such Contract Fees, such obligation shall be deferred until the earlier of the date sufficient cash is available and the Stock Purchase Date. Any such Contract Fees so deferred shall bear additional Contract Fees thereon at a rate per annum equal to the Contract Fee Rate (computed on the basis of a 360-day year of twelve 30-day months), compounding on each succeeding Quarterly Payment Date, until paid in full.