Common use of Interest and Defaulted Interest Clause in Contracts

Interest and Defaulted Interest. Interest and any Liquidated Damages on any Security which are payable, and are punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name that Security (or one or more predecessor Securities) is registered at the close of business on the Record Date immediately preceding such Interest Payment Date. Any interest or Liquidated Damages on any Security which are payable, but are not punctually paid or duly provided for, on any Interest Payment Date plus, to the extent lawful, any interest payable on such defaulted amounts (collectively, herein called "Defaulted Interest") shall forthwith cease to be payable to the registered Holder on the relevant Record Date, and such Defaulted Interest shall be paid by the Company, at its election in each case, as provided in clause (1) or (2) below: (1) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of Cash equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such ▇▇▇▇ when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as provided in this clause (1). Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder at his address as it appears in the Security register not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (2). (2) The Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange or automated quotation system on which the Securities may be listed or quoted and upon such notice as may be required by such exchange or automated quotation system, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.12, each Security delivered under this Indenture upon transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such predecessor Security.

Interest and Defaulted Interest. Interest and any Liquidated Damages on any Security which are is payable, and are is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name that Security (or one or more predecessor Securities) is registered at the close of business on the Record Date immediately preceding such Interest Payment Date. Any interest or Liquidated Damages on any Security which are is payable, but are is not punctually paid or duly provided for, on any Interest Payment Date plus, to the extent lawful, any interest payable on such defaulted amounts (collectively, herein called "Defaulted Interest") shall forthwith cease to be payable to the registered Holder on the relevant Record Date, and such Defaulted Interest shall be paid by the Company, at its election in each case, as provided in clause (1) or (2) below: (1) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of Cash equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such ▇▇▇▇ Cash when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as provided in this clause (1). Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder at his address as it appears in the Security register Register not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (2). (2) The Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange or automated quotation system on which the Securities may be listed or quoted and upon such notice as may be required by such exchange or automated quotation system, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.12, each Security delivered under this Indenture upon transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such predecessor Security.

Interest and Defaulted Interest. Interest and any Liquidated Damages (a) Interest, if any, on any Security the Notes which are is payable, and are is punctually paid or duly provided for, on any Interest Payment Date interest payment date shall be paid to the Person in whose name that Security (or one or more predecessor Securities) such Note is registered at the close of business on the Record Date immediately preceding regular record date for such Interest Payment Date. Any interest at the office or Liquidated Damages on any Security which are payableagency of the Issuers maintained for such purpose pursuant to Section 4.2; provided, but are not punctually paid or duly provided forhowever, that each installment of interest, if any, on the Notes may, at the Issuers’ option, be paid by (i) mailing a check for such interest, payable to or upon the written order of the Person entitled thereto pursuant to Section 2.14 or to the address of such Person as it appears on the Note Register or (ii) wire transfer to an account located in the United States maintained by the payee; provided that payment by wire transfer of immediately available funds shall be required with respect to interest payable on all Global Notes and all other Notes the Holders of which shall have provided wire transfer instructions to the Issuers or the Paying Agent at least five Business Days prior to the applicable payment date. Such payment shall be in such coin or currency of the United States as at the time of payment is legal tender for payment of public and private debts. (b) If the Issuers default in a payment of interest on the Notes, they shall pay the defaulted interest in any Interest Payment Date lawful manner plus, to the extent lawful, any interest payable on such the defaulted amounts (collectivelyinterest, herein called "Defaulted Interest") shall forthwith cease to be payable to the registered Holder on the relevant Record Date, and such Defaulted Interest shall be paid by the Company, at its election in each case, as provided in clause (1) or (2) below: (1) The Company may elect to make payment of any Defaulted Interest to the Persons who are Holders on a subsequent special record date, in whose names the Securities (or their respective predecessor Securities) are registered each case at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed rate provided in the following mannerNotes and in Section 4.1. The Company Issuers shall notify the Trustee in writing of the amount of Defaulted Interest defaulted interest proposed to be paid on each Security Note and the date of the proposed payment, and at the same time the Company Issuers shall deposit with the Trustee an amount of Cash money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such ▇▇▇▇ money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest defaulted interest as provided in this clause (1)Section 2.12. Thereupon the Trustee The Issuers shall fix a Special Record Date for the or cause to be fixed each such special record date and payment of date; provided that no such Defaulted Interest which special record date shall be not more than 15 days and not less than 10 days prior to the related payment date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed paymentfor such defaulted interest. The Trustee Issuers shall promptly notify the Company Trustee of such Special Record Date andspecial record date. At least 15 days before the special record date, the Issuers (or, upon the request of the Issuers, the Trustee in the name and at the expense of the Company, Issuers) shall cause notice mail or deliver by electronic transmission in accordance with the applicable procedures of the proposed payment of such Defaulted Interest and the Special Record Date therefor Depositary, or cause to be mailed, first-class postage prepaid, mailed or delivered by electronic transmission in accordance with the applicable procedures of the Depositary to each Holder at his address as it appears in a notice that states the Security register not less than 10 days prior to such Special Record Date. Notice of special record date, the proposed related payment date and the amount of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall interest to be paid to the Persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (2)paid. (2c) The Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange or automated quotation system on which the Securities may be listed or quoted and upon such notice as may be required by such exchange or automated quotation system, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.122.12 and for greater certainty, each Security Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security Note shall carry the rights to interest accrued and unpaid, and to accrueaccrue interest, which were carried by such predecessor Securityother Note.

Interest and Defaulted Interest. Interest and any Liquidated Damages on any Security which are is payable, and are is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name that Security (or one or more predecessor Securities) is registered at the close of business on the Record Date immediately preceding such Interest Payment Date. Any interest or Liquidated Damages on any Security which are is payable, but are is not punctually paid or duly provided for, on any Interest Payment Date plus, to the extent lawful, any interest payable on such defaulted amounts (collectively, herein called "Defaulted Interest") shall forthwith cease to be payable to the registered Holder on the relevant Record Date, and such Defaulted Interest shall be paid by the Company, at its election in each case, as provided in clause (1) or (2) below: (1) The Company may elect to make payment of any Defaulted Interest to the Persons persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of Cash equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such ▇▇▇▇ Cash when deposited to be held in trust for the benefit of the Persons persons entitled to such Defaulted Interest as provided in this clause (1). Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder at his address as it appears in the Security register not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (2). (2) The Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange or automated quotation system on which the Securities may be listed or quoted and upon such notice as may be required by such exchange or automated quotation system, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.12, each Security delivered under this Indenture upon transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such predecessor Security.

Interest and Defaulted Interest. Interest and any Liquidated Damages (a) Interest, if any, on any Security which are the Notes that is payable, and are is punctually paid or duly provided for, on any Interest Payment Date interest payment date shall be paid to the Person in whose name that Security (or one or more predecessor Securities) such Note is registered at the close of business on the Record Date immediately preceding regular record date for such Interest Payment Date. Any interest at the office or Liquidated Damages on any Security which are payableagency of the Issuer maintained for such purpose pursuant to Section 4.02; provided, but are not punctually paid or duly provided forhowever, that each installment of interest, if any, on the Notes may at the Issuer’s option be paid by (i) mailing a check for such interest, payable to or upon the written order of the Person entitled thereto pursuant to Section 2.14 or to the address of such Person as it appears on the Note Register or (ii) wire transfer to an account located in the United States maintained by the payee; provided that payment by wire transfer of immediately available funds shall be required with respect to interest payable on all Global Notes and all other Notes the Holders of which shall have provided wire transfer instructions to the Issuer or the Paying Agent at least five Business Days prior to the applicable payment date. Such payment shall be in such 53| coin or currency of the United States as at the time of payment is legal tender for payment of public and private debts. (a) If the Issuer defaults in a payment of interest on the Notes, it shall pay the defaulted interest in any Interest Payment Date lawful manner plus, to the extent lawful, any interest payable on such the defaulted amounts (collectivelyinterest, herein called "Defaulted Interest") shall forthwith cease to be payable to the registered Holder on the relevant Record Date, and such Defaulted Interest shall be paid by the Company, at its election in each case, as provided in clause (1) or (2) below: (1) The Company may elect to make payment of any Defaulted Interest to the Persons who are Holders on a subsequent special record date, in whose names the Securities (or their respective predecessor Securities) are registered each case at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed rate provided in the following mannerNotes and in Section 4.01. The Company Issuer shall notify the Trustee in writing of the amount of Defaulted Interest defaulted interest proposed to be paid on each Security Note and the date of the proposed payment, and at the same time the Company Issuer shall deposit with the Trustee an amount of Cash money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such ▇▇▇▇ money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest defaulted interest as provided in this clause (1Section 2.12(b). Thereupon the Trustee The Issuer shall fix a Special Record Date for the or cause to be fixed each such special record date and payment of date; provided that no such Defaulted Interest which special record date shall be not more than 15 days and not less than 10 days prior to the related payment date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed paymentfor such defaulted interest. The Trustee Issuer shall promptly notify the Company Trustee of such Special Record Date andspecial record date. At least 15 days before the special record date, the Issuer (or, upon the request of the Issuer, the Trustee in the name and at the expense of the Company, Issuer) shall cause notice mail or deliver by electronic transmission in accordance with the applicable procedures of the proposed payment of such Defaulted Interest and the Special Record Date therefor Depositary, or cause to be mailed, first-class postage prepaidmailed or delivered by electronic transmission in accordance with the applicable procedures of the Depositary, to each Holder at his address as it appears in a notice that states the Security register not less than 10 days prior to such Special Record Date. Notice of special record date, the proposed related payment date and the amount of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall interest to be paid to the Persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (2)paid. (2b) The Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange or automated quotation system on which the Securities may be listed or quoted and upon such notice as may be required by such exchange or automated quotation system, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.122.12 and for greater certainty, each Security Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security Note shall carry the rights to interest accrued and unpaid, and to accrueaccrue interest, which that were carried by such predecessor Securityother Note.