Common use of Payment of Principal Amount Clause in Contracts

Payment of Principal Amount. (a) The Principal Amount that is due and payable shall be punctually paid or duly provided for by the Company, Trustee at least 5 days prior to the Stated Maturity date. Following receipt of such funds, the Trustee shall pay such Principal Amount to the person in whose name that Security is registered at the close of business on the Regular Record Date for such Principal Amount at the office or agency of the Company maintained for such purpose. Each Principal Amount shall be paid in Cash to Paye▇'▇ ▇ddress located inside the United States. (b) Except as otherwise specified with respect to the Security, any Principal Amount on any Security that is payable, but is returned undeliverable to the Trustee following any applicable Maturity Date (herein called "Defaulted Principal") shall forthwith cease to be payable to the registered Holder thereof on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Principal Amount may be paid by the Company, at its election in each case, as provided in clause (i) and (ii) below: (i) The Company may elect to make payment of any Defaulted Principal Amount to the persons in whose names the Securities are registered at the close of business on a Special Record Date for the payment of such Defaulted Principal Amount, which shall be fixed in the following manner. At any time following receipt of the Trustee's report of Defaulted Principal, the Company shall notify the Trustee in writing of the amount of Defaulted Principal Amou▇▇ ▇▇▇posed to be paid on each Security and the date of the proposed payment (which shall not be less than 20 days after such notice is received by the Trustee), and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Principal Amount or shall make arrangements satisfactory to the Trustee for such deposit on or prior to the date of proposed payment, such money when deposited to be held in trust for the benefit of the persons entitled to such Defaulted Principal Amount as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Principal Amount 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 Principal Amount and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities at his address as it appears on the list of Holders maintained pursuant to Section 2.05 hereof not less than 10 days prior to such Special Record Date. The Trustee may, in its discretion, in the name and at the expense of the Company, cause a similar notice to be published at least once in an Authorized Newspaper in each place of payment, but such publications shall not be a condition precedent to the establishment of such Special Record Date. Notice of the proposed payment of such Defaulted Principal Amount and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Principal Amount shall be paid to the persons in whose names the Securities are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii). (ii) The Company may make payment of any Defaulted Principal Amount on the Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.

Payment of Principal Amount. (a) The Principal Amount that is due and payable shall be punctually paid or duly provided for by the Company, Trustee at least 5 days prior to the Stated Maturity date. Following receipt of such funds, the Trustee shall pay such Principal Amount to the person in whose name that Security is registered at the close of business on the Regular Record Date for such Principal Amount at the office or agency of the Company maintained for such purpose. Each Principal Amount shall be paid in Cash to Paye▇'▇ ▇ddress located inside the United States. (b) Except as otherwise specified with respect to the Security, any Principal Amount on any Security that is payable, but is returned undeliverable to the Trustee following any applicable Maturity Date (herein called "Defaulted Principal") shall forthwith cease to be payable to the registered Holder thereof on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Principal Amount may be paid by the Company, at its election in each case, as provided in clause (i) and (ii) below: (i) The Company may elect to make payment of any Defaulted Principal Amount to the persons in whose names the Securities are registered at the close of business on a Special Record Date for the payment of such Defaulted Principal Amount, which shall be fixed in the following manner. At any time following receipt of the Trustee's report of Defaulted Principal, the Company shall notify the Trustee in writing of the amount of Defaulted Principal Amou▇▇ ▇▇▇posed to be paid on each Security and the date of the proposed payment (which shall not be less than 20 days after such notice is received by the Trustee), and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Principal Amount or shall make arrangements satisfactory to the Trustee for such deposit on or prior to the date of proposed payment, such money when deposited to be held in trust for the benefit of the persons entitled to such Defaulted Principal Amount as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Principal Amount 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 Principal Amount and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities at his address as it appears on the list of Holders maintained pursuant to Section 2.05 hereof not less than 10 days prior to such Special Record Date. The Trustee may, in its discretion, in the name and at the expense of the Company, cause a similar notice to be published at least once in an Authorized Newspaper in each place of payment, but such publications shall not be a condition precedent to the establishment of such Special Record Date. Notice of the proposed payment of such Defaulted Principal Amount and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Principal Amount shall be paid to the persons in whose names the Securities are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii). (ii) The Company may make payment of any Defaulted Principal Amount on the Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.