Common use of Applicability of Article; Company’s Option to Effect Defeasance or Covenant Defeasance Clause in Contracts

Applicability of Article; Company’s Option to Effect Defeasance or Covenant Defeasance. If, pursuant to Section 3.01, provision is made for either or both of (a) Defeasance of the Securities of a series under Section 14.02 or (b) Covenant Defeasance of the Securities of a series under Section 14.03, then the provisions of such Section or Sections, as the case may be, together with the other provisions of this Article XIV, shall be applicable to the Outstanding Securities of such series, and the Company may at its option at any time with respect to the Securities of such series, elect to have either Section 14.02 (if applicable) or Section 14.03 (if applicable) be applied to with respect to all, and not less than all, the Outstanding Securities of such series upon compliance with the conditions set forth below in this Article XIV. To the extent that the Company is permitted, pursuant to Section 3.01, to extend interest payment periods or defer interest payments, change the time for interest payments, or change the Stated Maturity of the Securities of any series or any installment of principal thereof or interest thereon, or otherwise change the time of any payment of principal thereof or premium, if any, or interest thereon, any such right shall terminate upon Defeasance or Covenant Defeasance of the Securities of that series as described below or upon satisfaction and discharge with respect to the Securities of that series pursuant to Section 4.01.

Applicability of Article; Company’s Option to Effect Defeasance or Covenant Defeasance. If, pursuant to Section 3.01, provision is made for either or both of (a) Defeasance of the Securities of a series under Section 14.02 or (b) Covenant Defeasance of the Securities of a series under Section 14.03, then the provisions of such Section or Sections, as the case may be, together with the other provisions of this Article XIV, shall be applicable to the Outstanding Securities of such series, and the Company may at its option at any time with respect to the Securities of such series, elect to have either Section 14.02 (if applicable) or Section 14.03 (if applicable) be applied to with respect to all, and not less than all, the Outstanding Securities of such series upon compliance with the conditions set forth below in this Article XIV. To the extent that the Company is permitted, pursuant to Section 3.01, to extend interest payment periods or defer interest payments, change the time for interest payments, or change the Stated Maturity of the Securities of any series or any installment of principal thereof or interest thereon, or otherwise change the time of any payment of principal thereof or premium, if any, or interest thereon, any such right shall terminate upon Defeasance or Covenant Defeasance of the Securities of that series as described below or upon satisfaction and discharge with respect to the Securities of that series pursuant to Section 4.01.

Applicability of Article; Company’s Option to Effect Defeasance or Covenant Defeasance. (a) If, pursuant to Section 3.013.01 hereof, provision is made for either or both of (ai) Defeasance of the Securities of a series under Section 14.02 hereof, or (bii) Covenant Defeasance of the Securities of a series under Section 14.0314.03 hereof, then the provisions of such Section or Sections, as the case may be, together with the other provisions of this Article XIV, shall be applicable to the Outstanding Securities of such series, and the Company may at its option at any time with respect to the Securities of such series, elect to have either Section 14.02 hereof (if applicable) or Section 14.03 hereof (if applicable) be applied to with respect to all, and not less than all, the Outstanding Securities of such series upon compliance with the conditions set forth below in this Article XIV. . (b) To the extent that the Company is permitted, pursuant to Section 3.013.01 hereof, to extend interest payment periods or defer interest payments, change the time for interest payments, or change the Stated Maturity of the Securities of any series or any installment of principal thereof or interest thereon, or otherwise change the time of any payment of principal thereof or premium, if any, or interest thereon, any such right shall terminate upon Defeasance or Covenant Defeasance of the Securities of that series as described below or upon satisfaction and discharge with respect to the Securities of that series pursuant to Section 4.014.01 hereof.