Year Fixed Rate Notes. Any notice mailed to a Holder in the manner herein prescribed shall be deemed to have been received by (i) a Holder domiciled in Argentina when actually received and (ii) a Holder domiciled outside of Argentina when so mailed. Discharge and Defeasance ------------------------ Under the terms of the 7-Year Notes Indenture, the Company may at its option by a resolution of the Board of Directors, at any time, upon the satisfaction of certain conditions described below, elect to be discharged from its obligations with respect to outstanding 7-Year Fixed Rate Notes ("defeasance"). In general, upon a defeasance, the Company shall be deemed to have paid and discharged the entire indebtedness represented by the outstanding 7-Year Fixed Rate Notes and to have satisfied all of its obligations under such 7-Year Fixed Rate Notes except for (i) the rights of Holders of such 7-Year Fixed Rate Notes and any related coupons to receive, solely from the trust fund established for such purposes as described below, payments in respect of the principal of, premium, if any, on and interest on such 7-Year Fixed Rate Notes when such payments are due, (ii) certain provisions relating to ownership, registration and transfer of the 7-Year Fixed Rate Notes, (iii) certain provisions relating to the mutilation, destruction, loss or theft of the 7-Year Fixed Rate Notes, (iv) the Company's obligations to effect a registered exchange offer or a private exchange offer, (v) the covenant relating to the maintenance of an office or agency in Buenos Aires and The City of New York and (vi) certain provisions relating to the rights, powers, trusts duties and immunities of the Trustee. In addition, the Company may at its option by Board Resolution, at any time, upon the satisfaction of certain conditions described below, elect to be released from certain covenants described in the 7-Year Notes Indenture ("covenant defeasance"). Following such covenant defeasance, the occurrence of a breach or violation of any such covenant will not be deemed to be an Event of Default under the 7-Year Notes Indenture. In order to cause a defeasance or covenant defeasance, the Company will be required to satisfy, among other conditions, the following conditions:
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Sources: Indenture (Multicanal Sa)
Year Fixed Rate Notes. Any notice mailed to a Holder in the manner herein prescribed shall be deemed to have been received by (i) a Holder domiciled in Argentina when actually received and (ii) a Holder domiciled outside of Argentina when so mailed. Discharge and Defeasance ------------------------ Under the terms of the This 7-Year Notes Indenture, Note is a negotiable obligation under the Negotiable Obligations Law and is one of a duly authorized issue of a series of Debt Securities of the Company may at designated as its option by a resolution of the Board of Directors, at any time, upon the satisfaction of certain conditions described below, elect to be discharged from its obligations with respect to outstanding 7-Year Fixed Rate Notes due [2012], initially limited in aggregate principal amount to U.S.$[ ] ("defeasance"the “7-Year Fixed Rate Notes” and each, a “7-Year Note”). In general, upon as may be set forth from time to time, issued and to be issued under an indenture, dated as of [ ], [2005] (the “Indenture”), as supplemented and amended by a defeasancesecond supplemental indenture, dated as of [ ], [2005] (the “Second Supplemental Indenture” and, together with the Indenture, the “7-Year Notes Indenture”), each of the Indenture and the Second Supplemental Indenture among the Company, Law Debenture Trust Company shall be deemed of New York, as Trustee, Co-Registrar and Principal Paying Agent, and HSBC Bank Argentina S.A., as Registrar and Paying Agent thereunder. Reference to have paid the 7-Year Notes Indenture and discharged all indentures supplemental thereto is hereby made for a statement of the entire indebtedness represented by respective rights, limitations of rights, duties and immunities thereunder of the outstanding Company, the Trustee and the Holders of 7-Year Fixed Rate Notes and to have satisfied all of its obligations under such the terms upon which the 7-Year Fixed Rate Notes except for (i) the rights of Holders of such 7-Year Fixed Rate Notes are, and any related coupons are to receivebe, solely from the trust fund established for such purposes as described below, payments in respect of the principal of, premium, if any, on authenticated and interest on such 7-Year Fixed Rate Notes when such payments are due, (ii) certain provisions relating to ownership, registration and transfer delivered. The terms of the 7-Year Fixed Rate Notes, (iii) certain provisions relating to the mutilation, destruction, loss or theft of the 7-Year Fixed Rate Notes, (iv) the Company's obligations to effect a registered exchange offer or a private exchange offer, (v) the covenant relating to the maintenance of an office or agency in Buenos Aires and The City of New York and (vi) certain provisions relating to the rights, powers, trusts duties and immunities of the Trustee. In addition, the Company may at its option by Board Resolution, at any time, upon the satisfaction of certain conditions described below, elect to be released from certain covenants described Notes include those stated in the 7-Year Notes Indenture and those made part of the 7-Year Notes Indenture by reference to the Trust Indenture Act of 1939 ("covenant defeasance"15 U.S.C. §§ 77aaa-77bbbb), as amended (the “Trust Indenture Act”). Following The 7-Year Fixed Rate Notes are subject to all such covenant defeasanceterms, and Holders are referred to the occurrence 7-Year Notes Indenture and the Trust Indenture Act for a statement of a breach or violation those terms. The Indebtedness evidenced by the 7-Year Fixed Rate Notes will constitute the direct, unsecured and unconditional unsubordinated Indebtedness of the Company and will rank pari passu in right of payment without any such covenant will not be deemed to be an Event preference among themselves. The payment obligations of Default the Company under the 7-Year Fixed Rate Notes Indenture. In order to cause a defeasance or covenant defeasance, will at all times rank at least equally in priority of payment with all other present and future unsecured and unsubordinated Indebtedness of the Company will be required and senior in priority of payment with all other present and future Subordinated Indebtedness of the Company from time to satisfy, among other conditions, the following conditions:time outstanding.
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