Common use of Application of Interest Payments for the Auction Rate Notes Clause in Contracts

Application of Interest Payments for the Auction Rate Notes. (i) The Indenture Trustee shall determine not later than 2:00 p.m., eastern time, on the Business Day next succeeding a Distribution Date, whether a Payment Default has occurred. If a Payment Default has occurred, the Indenture Trustee shall, not later than 2:15 p.m., eastern time, on such Business Day, send a notice thereof in substantially the form of EXHIBIT C attached hereto to the Auction Agent by telecopy or similar means and, if such Payment Default is cured, the Indenture Trustee shall immediately send a notice in substantially the form of EXHIBIT D attached hereto to the Auction Agent by telecopy or similar means.

Application of Interest Payments for the Auction Rate Notes. (ia) The Indenture Trustee shall determine not later than 2:00 p.m.12:00 Noon, eastern time, on the Business Day next succeeding a an Auction Period Distribution Date, whether a Payment Default has occurred. If a Payment Default has occurred, the Indenture Trustee shall, not later than 2:15 12:15 p.m., eastern time, on such Business Day, send a notice thereof in substantially the form of EXHIBIT C Exhibit F attached hereto to the Auction Agent by telecopy or similar means and, if such Payment Default is cured, the Indenture Trustee shall immediately send a notice in substantially the form of EXHIBIT D Exhibit G attached hereto to the Auction Agent by telecopy or similar means.

Application of Interest Payments for the Auction Rate Notes. (i) The Indenture Trustee shall determine not later than 2:00 p.m., eastern time, on the Business Day next succeeding a an Auction Rate Distribution Date, whether a Payment Default has occurred. If a Payment Default has occurred, the Indenture Trustee shall, not later than 2:15 p.m., eastern time, on such Business Day, send a notice thereof in substantially the form of EXHIBIT C Exhibit D attached hereto to the Auction Agent by telecopy or similar means and, if such Payment Default is cured, the Indenture Trustee shall immediately send a notice in substantially the form of EXHIBIT D Exhibit E attached hereto to the Auction Agent by telecopy or similar means.

Application of Interest Payments for the Auction Rate Notes. (i) The Indenture Trustee shall determine not later than 2:00 p.m., eastern time, on the Business Day next succeeding a Distribution an Interest Payment Date, whether a Payment Default has occurred. If a Payment Default has occurred, the Indenture Trustee shall, not later than 2:15 p.m., eastern time, on such Business Day, send a notice thereof in substantially the form of EXHIBIT Exhibit C attached hereto to the Auction Agent by telecopy or similar means and, if such Payment Default is cured, the Indenture Trustee shall immediately send a notice in substantially the form of EXHIBIT Exhibit D attached hereto to the Auction Agent by telecopy or similar means.

Application of Interest Payments for the Auction Rate Notes. (i) The Indenture Trustee shall determine not later than 2:00 p.m., eastern time, on the Business Day next succeeding a Distribution an Interest Payment Date, whether a Payment Default has occurred. If a Payment Default has occurred, the Indenture Trustee shall, not later than 2:15 p.m., eastern time, on such Business Day, send a notice thereof in substantially the form of EXHIBIT C Exhibit F attached hereto to the Auction Agent by telecopy or similar means and, if such Payment Default is cured, the Indenture Trustee shall immediately send a notice in substantially the form of EXHIBIT D Exhibit G attached hereto to the Auction Agent by telecopy or similar means.