Common use of Transfers, Exchanges and Replacements Clause in Contracts

Transfers, Exchanges and Replacements. At the times and in the manner specified in Section 5(b) hereof, upon presentation by the Issuer to the Registrar of the Notes to be delivered upon transfer or exchange, or replacement, of Notes to be delivered in the event of mutilation, destruction, loss or theft, the Registrar shall authenticate such Notes by execution of the Certificate of Authentication thereon, and shall thereupon deliver such Notes to the holders thereof. So long as The Depository Trust Company (“DTC”), or its nominee, is the Depositary, no beneficial owner of an interest in a Global Note will be able to transfer that interest except in accordance with the applicable procedures of DTC, in addition to those provided for under this Agreement and, if applicable, those of Euroclear Bank S.A./N.V. (“Euroclear”), or Clearstream Banking, société anonyme (“Clearstream” and together with DTC and Euroclear, the “Clearing Systems”).

Transfers, Exchanges and Replacements. At the times and in the manner specified in Section 5(b) hereof, upon presentation by the Issuer to the Registrar Fiscal Agent of the Notes to be delivered upon transfer or exchange, or replacement, of Notes to be delivered in the event of mutilation, destruction, loss or theft, the Registrar shall authenticate such Notes by execution of the Certificate of Authentication thereon, and shall thereupon deliver such Notes to the holders thereof. So long as The Depository Trust Company (“DTC”), or its nominee, is the Depositary, no beneficial owner of an interest in a Global Note will be able to transfer that interest except in accordance with the applicable procedures of DTC, in addition to those provided for under this Agreement and, if applicable, those of Euroclear Bank S.A./N.V. (“Euroclear”), or Clearstream Banking, société anonyme (“Clearstream” and together with DTC and Euroclear, the “Clearing Systems”).