Common use of Effectiveness of Redemption Clause in Contracts

Effectiveness of Redemption. If notice of redemption has been duly given and if on or before the redemption date specified in the notice all funds necessary for the redemption have been set aside by the Corporation, separate and apart from its other funds, in trust for the pro rata benefit of the Holders of any shares of Series C so called for redemption, so as to be and continue to be available therefor, then, notwithstanding that any certificate for any share so called for redemption has not been surrendered for cancellation, on and after the redemption date dividends shall cease to accrue on all shares so called for redemption, all shares of Series C so called for redemption shall no longer be deemed outstanding and all rights with respect to such shares shall forthwith on such redemption date cease and terminate, except only the right of the Holders thereof to receive the amount payable on such redemption, without interest. Any funds unclaimed at the end of two years from the redemption date shall, to the extent permitted by law, be released to the Corporation, after which time the Holders of the shares of Series C so called for redemption shall look only to the Corporation for payment of the redemption price of such shares.

Effectiveness of Redemption. If notice of redemption has been duly given and if on or before the redemption date specified in the notice all funds necessary for the redemption have been set aside by the Corporation, separate and apart from its other funds, in trust for the pro rata benefit of the Holders of any shares of Series C so called for redemption, so as to be and continue to be available therefor, then, notwithstanding that any certificate for any share of Series E Preferred Stock so called for redemption has not been surrendered for cancellation, on and after the redemption date dividends shall cease to accrue on all shares of Series E Preferred Stock so called for redemption, all shares of Series C E Preferred Stock so called for redemption shall no longer be deemed outstanding and all rights with respect to such shares of Series E Preferred Stock shall forthwith on such redemption date cease and terminate, except only the right of the Holders thereof to receive the amount payable on such redemptionredemption from such bank or trust company, without interest. Any funds unclaimed at the end of two three years from the redemption date shall, to the extent permitted by law, be released to the Corporation, after which time the Holders of the shares of Series C E Preferred Stock so called for redemption shall look only to the Corporation for payment of the redemption price Redemption Price of such sharesshares of Series E Preferred Stock.

Effectiveness of Redemption. If notice of redemption has been duly given and if on or before the redemption date specified in the notice all funds necessary for the redemption have been set aside by the Corporation, separate and apart from its other funds, in trust for the pro rata benefit of the Holders of any shares of Series C so called for redemption, so as to be and continue to be available therefor, then, notwithstanding that any certificate for any share of Series F Preferred Stock so called for redemption has not been surrendered for cancellation, on and after the redemption date dividends shall cease to accrue on all shares of Series F Preferred Stock so called for redemption, all shares of Series C F Preferred Stock so called for redemption shall no longer be deemed outstanding and all rights with respect to such shares of Series F Preferred Stock shall forthwith on such redemption date cease and terminate, except only the right of the Holders thereof to receive the amount payable on such redemptionredemption from such bank or trust company, without interest. Any funds unclaimed at the end of two three years from the redemption date shall, to the extent permitted by law, be released to the Corporation, after which time the Holders of the shares of Series C F Preferred Stock so called for redemption shall look only to the Corporation for payment of the redemption price Redemption Price of such sharesshares of Series F Preferred Stock.

Effectiveness of Redemption. If notice of redemption has been duly given and if on or before the redemption date specified in the notice all funds necessary for the redemption have been set aside deposited by the Corporation, separate and apart from its other fundsCompany, in trust for the pro rata benefit of the Holders holders of any the shares of Series C so called for redemption, with a bank or trust company doing business in the Borough of Manhattan, The City of New York, and having a capital and surplus of at least $500 million and selected by the Board of Directors, so as to be and continue to be available solely therefor, then, notwithstanding that any certificate (if the shares of Series F Preferred Stock are not in book-entry form) for any share so called for redemption has not been surrendered for cancellation, on and after the redemption date dividends shall cease to accrue on all shares so called for redemption, all shares of Series C so called for redemption shall no longer be deemed outstanding and all rights with respect to such shares shall forthwith on such redemption date cease and terminate, except only the right of the Holders holders thereof to receive the amount payable on such redemptionredemption from such bank or trust company, without interest. Any funds unclaimed at the end of two three years from the redemption date shall, to the extent permitted by law, be released to the CorporationCompany, after which time the Holders holders of the shares of Series C so called for redemption shall look only to the Corporation Company for payment of the redemption price of such shares.

Effectiveness of Redemption. If notice of redemption has been duly given and if on or before the redemption date specified in the notice all funds necessary for the redemption have been set aside deposited by the Corporation, separate and apart from its other fundsCompany, in trust for the pro rata benefit of the Holders holders of any the shares of Series C so called for redemption, with a bank or trust company doing business in the Borough of Manhattan, The City of New York, and having a capital and surplus of at least $500 million and selected by the Board of Directors, so as to be and continue to be available solely therefor, then, notwithstanding that any certificate (if the shares of Series E Preferred Stock are not in book-entry form) for any share so called for redemption has not been surrendered for cancellation, on and after the redemption date dividends shall cease to accrue on all shares so called for redemption, all shares of Series C so called for redemption shall no longer be deemed outstanding and all rights with respect to such shares shall forthwith on such redemption date cease and terminate, except only the right of the Holders holders thereof to receive the amount payable on such redemptionredemption from such bank or trust company, without interest. Any funds unclaimed at the end of two three years from the redemption date shall, to the extent permitted by law, be released to the CorporationCompany, after which time the Holders holders of the shares of Series C so called for redemption shall look only to the Corporation Company for payment of the redemption price of such shares.