Common use of Mandatory Principal Prepayment Clause in Contracts

Mandatory Principal Prepayment. At the end of each accrual period ending after the fifth anniversary of the initial issuance of the Securities (each, an “AHYDO Prepayment Date”), the Company shall prepay in cash a portion of each Security then outstanding equal to the Mandatory Principal Prepayment Amount (such prepayment, a “Mandatory Principal Prepayment”), subject to a cap on each prepayment to be so made to ensure that no such prepayment would cause the Average Life of a Security to be less than the Average Life of any series of the Existing Subordinated Notes. The prepayment price (the “Mandatory Prepayment Price”) for the portion of each Security prepaid pursuant to a Mandatory Principal Prepayment will be 100% of the principal amount of such portion plus any accrued interest thereon to, but not including, the date of prepayment. No partial prepayment or repurchase of the Securities prior to the AHYDO Prepayment Date pursuant to any other provision of this Indenture will alter the Company’s obligation to make the Mandatory Principal Prepayment with respect to any Securities that remain outstanding on any AHYDO Prepayment Date. The Company shall be responsible for calculating the Mandatory Principal Prepayment Amount and the Mandatory Prepayment Price. If a Mandatory Principal Prepayment is payable with respect to the Securities, the Company shall provide an Officers’ Certificate to the Trustee not less than five (5) Business Days prior to the AHYDO Prepayment Date setting forth the AHYDO Prepayment Date, and the Mandatory Principal Prepayment Amount and the Mandatory Prepayment Price in reasonable detail. Unless and until a Trust Officer receives such Officers’ Certificate, the Trustee may assume without inquiry that no such Mandatory Principal Prepayment is payable. The Trustee shall not at any time be under any duty or responsibility to any Holder to determine whether any Mandatory Principal Prepayment is payable, or with respect to the nature, extent, or calculation of the amount of any Mandatory Principal Prepayment Amount or Mandatory Prepayment Price is owed, or with respect to the method employed in such calculation of any Mandatory Principal Prepayment Amount or Mandatory Prepayment Price.

Mandatory Principal Prepayment. At the end of each accrual period ending after the fifth anniversary of the initial issuance of the Securities (each, an “AHYDO Prepayment Date”), the Company shall prepay in cash a portion of each Security then outstanding equal to the Mandatory Principal Prepayment Amount (such prepayment, a “Mandatory Principal Prepayment”), subject to a cap on each prepayment to be so made to ensure that no such prepayment would cause the Average Life of a Security to be less than the Average Life of any series of the Existing Subordinated Notes. The prepayment price (the “Mandatory Prepayment Price”) for the portion of each Security prepaid pursuant to a Mandatory Principal Prepayment will be 100% of the principal amount of such portion plus any accrued interest thereon to, but not including, the date of prepayment. No partial prepayment or repurchase of the Securities prior to the AHYDO Prepayment Date pursuant to any other provision of this the Indenture will alter the Company’s obligation to make the Mandatory Principal Prepayment with respect to any Securities that remain outstanding on any AHYDO Prepayment Date. The Company shall be responsible for calculating the Mandatory Principal Prepayment Amount and the Mandatory Prepayment Price. If a Mandatory Principal Prepayment is payable with respect to the Securities, the Company shall provide an Officers’ Certificate to the Trustee not less than five (5) Business Days prior to the AHYDO Prepayment Date setting forth the AHYDO Prepayment Date, and the Mandatory Principal Prepayment Amount and the Mandatory Prepayment Price in reasonable detail. Unless and until a Trust Officer receives such Officers’ Certificate, the Trustee may assume without inquiry that no such Mandatory Principal Prepayment is payable. The Trustee shall not at any time be under any duty or responsibility to any Holder to determine whether any Mandatory Principal Prepayment is payable, or with respect to the nature, extent, or calculation of the amount of any Mandatory Principal Prepayment Amount or Mandatory Prepayment Price is owed, or with respect to the method employed in such calculation of any Mandatory Principal Prepayment Amount or Mandatory Prepayment Price.