Common use of Extension of Interest Payment Period Clause in Contracts

Extension of Interest Payment Period. Section 3.1. So long as Holdings is not in default in the payment of interest on the Junior Subordinated Debentures, Holdings shall have the right, at any time during the term of the Junior Subordinated Debentures, from time to time to extend the interest payment period of such Junior Subordinated Debentures for up to 20 consecutive quarterly interest periods (the "Extended Interest Payment Period"), at the end of which period Holdings shall pay all interest accrued and unpaid thereon (together with interest thereon at the rate of 9 1/2% per annum, compounded quarterly to the extent permitted by applicable law ("Compounded Interest")). During such Extended Interest Payment Period Holdings shall not declare or pay any dividend on, or redeem, purchase, acquire or make a distribution or liquidation payment with respect to, any of its common stock or preferred stock, or make any guarantee payments with respect thereto; provided that Holdings may pay accrued dividends (and cash in lieu of fractional shares) upon the conversion, other than at the option of Holdings, of any of its preferred stock, including its ESOP Preferred Stock, in accordance with the terms of such stock. Prior to the termination of any such Extended Interest Payment Period, Holdings may pay all or any portion of the interest accrued on the Junior Subordinated Debentures on any Interest Payment Date to holders of record on the regular record date for such Interest Payment Date or from time to time further extend such Period; provided that such Period together with all such previous and further extensions thereof shall not exceed 20 consecutive quarterly interest periods or extend beyond the stated maturity of the Junior Subordinated Debentures. Upon the termination of any Extended Interest Payment Period and upon the payment of all accrued and unpaid interest then due, together with Compounded Interest, Holdings may select a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof. At the end of the Extended Interest Payment Period Holdings shall pay all interest accrued and unpaid on the Junior Subordinated Debentures including any Compounded Interest which shall be payable to the holders of the Junior Subordinated Debentures in whose names the Junior Subordinated Debentures are registered in the Debenture register on the record date for the first interest payment date occurring on or after the end of the Extended Interest Payment Period.

Extension of Interest Payment Period. Section 3.1SECTION 3.01. So long as Holdings the Company is not in default in the payment of interest on the Junior Subordinated Series 6.75% Debentures, Holdings the Company shall have the right, at any time during the term of the Junior Subordinated Series 6.75% Debentures, from time to time to extend the interest payment period of such Junior Subordinated Series 6.75% Debentures for up to 20 consecutive quarterly interest periods (the "“Extended Interest Payment Period"”), at the end of which period Holdings the Company shall pay all interest accrued and unpaid thereon (together with interest thereon at the rate of 9 1/26.75% per annum, compounded quarterly annum to the extent permitted by applicable law law, compounded quarterly ("“Compounded Interest"”)); provided that no Extended Interest Payment Period may extend beyond the Maturity Date or redemption date of the Series 6.75% Debentures. During such Extended Interest Payment Period Holdings the Company shall not declare or pay any dividend on, or redeem, purchase, acquire or make a distribution or liquidation payment with respect to, any of its common stock or preferred stock, stock or make any guarantee payments with respect thereto; provided that Holdings may pay accrued the foregoing will not apply to any stock dividends (and cash paid by the Company in lieu of fractional shares) upon the conversion, other than at the option of Holdings, of any of its preferred stock, including its ESOP Preferred Common Stock, in accordance with the terms of such stock. Prior to the termination of any such Extended Interest Payment Period, Holdings the Company may pay all or any portion of the interest accrued on the Junior Subordinated Series 6.75% Debentures on any Interest Payment Date to holders of record on the regular record date for such Interest Payment Date or from time to time further extend such Period; provided that such Period together with all such previous and further extensions thereof shall not exceed 20 consecutive quarterly interest periods or extend beyond the stated maturity of the Junior Subordinated Series 6.75% Debentures. Upon the termination of any Extended Interest Payment Period and upon the payment of all accrued and unpaid interest then due, together with Compounded Interest, Holdings the Company may select a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof. At the end of the Extended Interest Payment Period Holdings the Company shall pay all interest accrued and unpaid on the Junior Subordinated Series 6.75% Debentures including any Compounded Interest which shall be payable to the holders of the Junior Subordinated Series 6.75% Debentures in whose names the Junior Subordinated Series 6.75% Debentures are registered in the Debenture register on the first record date for the first interest payment date occurring on or after the end of the Extended Interest Payment Period.

Extension of Interest Payment Period. Section 3.1. So long as Holdings is not in default in the payment of interest on the Junior Subordinated Debentures, Holdings The Company shall have the right, right at any time during the term of the Junior Subordinated Debentures, and from time to time time, prior to extend August 18, 2003, to defer payments of interest by extending the interest payment period of such Junior Subordinated Debentures Notes for up to 20 a period not exceeding 12 consecutive quarterly interest periods quarters or extending beyond August 18, 2003 (the "Extended Interest Payment Extension Period"), during which Extension Period no interest shall be due and payable. To the extent permitted by applicable law, interest, the payment of which has been deferred because of the extension of the interest payment period pursuant to this Section 2.8, will bear interest thereon at the rate of 7.25% compounded quarterly for each quarter of the Extension Period ("Compounded Interest"). At the end of which period Holdings the Extension Period, the Company shall pay all interest accrued and unpaid thereon on the Subordinated Notes and Compounded Interest (together with interest thereon at the rate of 9 1/2% per annumtogether, compounded quarterly "Deferred Interest") that shall be payable to the extent permitted by applicable law ("Compounded Interest"))Holders of the Subordinated Notes in whose names the Subordinated Notes are registered in the Security Register on the first Regular Record Date after the end of the Extension Period. During such Extended Interest Payment Period Holdings So long as Preferred Securities are outstanding, the Company shall not (i) declare or pay any dividend dividends or distributions on, or redeem, purchase, acquire acquire, or make a distribution or liquidation payment with respect to, any of its the Company's capital stock (which includes common stock or and preferred stock), (ii) make any payment of principal, interest or premium, if any, on or repay or repurchase or redeem any debt securities of the Company that rank pari passu with or junior in right of payment to the Subordinated Notes or (iii) make any guarantee payments with respect to any guarantee by the Company of any securities of any subsidiary of the Company if such guarantee ranks pari passu or junior in right of payment to the Subordinated Notes (other than in the case of clauses (i), (ii) and (iii), (a) dividends or distributions in shares of, or options, warrants or rights to subscribe for or purchase shares of, common stock of the Company, (b) any declaration of a dividend in connection with the implementation of a stockholders' rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto; provided that Holdings may pay accrued dividends , (c) payments under the Preferred Securities Guarantee Agreement, dated as of August 22, 2000, by and cash in lieu between the Company, as guarantor, and The Bank of New York, as guarantee trustee (the "Preferred Securities Guarantee Agreement"), (d) as a result of a reclassification of the Company's capital stock solely into shares of one or more classes or series of the Company's capital stock or the exchange or the conversion of one class or series of the Company's capital stock for another class or series of the Company's capital stock, (e) the purchase of fractional sharesinterests in shares of the Company's capital stock pursuant to the conversion or exchange provisions of such capital stock or the security being converted or exchanged and (f) upon purchases of the conversion, other than at Company's common stock in connection with the option satisfaction by the Company of Holdings, its obligations (including purchases related to the issuance of such common stock or rights) under any of the Company's benefit plans for its preferred stockand its subsidiaries' directors, including its ESOP officers or employees or any of the Company's dividend reinvestment plans), (x) if at such time an Event of Default or an "Event of Default," as defined in the Preferred StockSecurities Guarantee Agreement, in accordance with the terms of such stockshall have occurred and be continuing or (y) during any Extension Period. Prior to the termination expiration of any such Extended Interest Payment Extension Period, Holdings the Company may pay all or any portion of the interest accrued on the Junior Subordinated Debentures on any Interest Payment Date to holders of record on the regular record date for such Interest Payment Date or from time to time further extend such Period; period, provided that such Period period together with all such previous and further extensions thereof shall not exceed 20 consecutive quarterly interest periods 12 quarters or extend beyond the stated maturity of the Junior Subordinated DebenturesAugust 18, 2003. Upon the termination of any Extended Interest Payment Extension Period and upon the payment of all accrued and unpaid interest Deferred Interest then due, together with Compounded Interest, Holdings the Company may select commence a new Extended Interest Payment Extension Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, Extension Period except at the end thereof. At , but the end Company, at its option, may prepay on any Interest Payment Date all or any portion of the Extended Interest Payment Period Holdings shall pay all interest accrued and unpaid on during the Junior Subordinated Debentures including any Compounded Interest which shall be payable to the holders then elapsed portion of the Junior Subordinated Debentures in whose names the Junior Subordinated Debentures are registered in the Debenture register on the record date for the first interest payment date occurring on or after the end of the Extended Interest Payment an Extension Period.

Extension of Interest Payment Period. Section 3.1. So SECTION 4.1 ----------- The Company shall have the right, subject to the conditions set forth herein, to defer payments of interest on the Debentures of a series by extending the interest payment period on the Debentures of a series at any time and from time to time during the term of the Debentures, for up to 10 consecutive semiannual periods (each such extended interest payment period, an "Extension Period"), during which Extension Periods no interest shall be due and payable; provided that (i) no Extension Period may extend beyond the Maturity -------- ---- Date and (ii) no Extension Period may commence or be extended so long as Holdings the Company is not in default in the payment of any interest upon any Debentures of such series or has not paid all Deferred Interest from a prior completed Extension Period. At the termination of an Extension Period for the Debentures of a series or, if not an Interest Payment Date, on the Junior Subordinated Debentures, Holdings shall have the right, at any time during the term of the Junior Subordinated Debentures, from time to time to extend the interest payment period Interest Payment Date immediately following termination of such Junior Subordinated Extension Period for the Debentures for up to 20 consecutive quarterly interest periods (of such series, the "Extended Interest Payment Period"), at the end of which period Holdings Company shall pay all interest then accrued and unpaid thereon (on the Debentures, together with interest thereon at the rate of 9 1/28.65% per annum, compounded quarterly semiannually (to the extent permitted by applicable law law) ("Compounded Interest")). During such Extended ) and any Additional Interest Payment Period Holdings shall not declare or pay any dividend on, or redeem, purchase, acquire or make a distribution or liquidation payment with respect to, any of its common stock or preferred stock, or make any guarantee payments with respect thereto; provided that Holdings may pay accrued dividends (and cash in lieu of fractional shares) upon the conversion, other than at the option of Holdings, of any of its preferred stock, including its ESOP Preferred Stock, in accordance with the terms of such stock. Prior to the termination of any such Extended Interest Payment Period, Holdings may pay all or any portion of the interest accrued on the Junior Subordinated Debentures on any Interest Payment Date to holders of record on the regular record date for such Interest Payment Date or from time to time further extend such Period; provided that such Period together with all such previous and further extensions thereof shall not exceed 20 consecutive quarterly interest periods or extend beyond the stated maturity of the Junior Subordinated Debentures. Upon the termination of any Extended Interest Payment Period and upon the payment of all accrued and unpaid interest then due, together with Compounded Interest, Holdings may select a new Extended "Deferred Interest"), which Deferred Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof. At the end of the Extended Interest Payment Period Holdings shall pay all interest accrued and unpaid on the Junior Subordinated Debentures including any Compounded Interest which shall be payable to the holders of the Junior Subordinated Debentures of such series in whose names the Junior Subordinated Debentures are registered in the Debenture register Debt Security Register on the record date for the first payment of interest payment date occurring on or after the end of the Extended such Interest Payment Date. Before the termination of any Extension Period, the Company may further extend such period, provided that such period together with all such previous and further consecutive extensions thereof shall not exceed 10 consecutive semiannual periods, or extend beyond the Maturity Date. Upon the termination of any Extension Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extension Period, subject to the foregoing requirements.

Extension of Interest Payment Period. Section 3.1SECTION 3.01. So long as Holdings the Company is not in default in the payment of interest on the Junior Subordinated Series [ ]% Debentures, Holdings the Company shall have the right, at any time during the term of the Junior Subordinated Series [ ]% Debentures, from time to time to extend the interest payment period of such Junior Subordinated Series [ ]% Debentures for up to 20 consecutive quarterly interest periods (the "Extended Interest Payment Period"), at the end of which period Holdings the Company shall pay all interest accrued and unpaid thereon (together with interest thereon at the rate of 9 1/2[ ]% per annum, compounded quarterly annum to the extent permitted by applicable law law, compounded quarterly ("Compounded Interest")). During such Extended Interest Payment Period Holdings the Company shall not declare or pay any dividend on, or redeem, purchase, acquire or make a distribution or liquidation payment with respect to, any of its common stock or preferred stock, stock or make any guarantee payments with respect thereto; provided that Holdings (i) the Company may pay accrued dividends (and cash in lieu of fractional shares) upon conversion of its Series E Mandatory Conversion Premium Dividend Preferred Stock or upon the conversion, other than at the option of Holdings, conversion of any other preferred stock of its preferred stockthe Company as may be outstanding from time to time, including its ESOP Preferred Stock, in each case in accordance with the terms of such stockstock and (ii) the foregoing will not apply to any stock dividends paid by the Company. Prior to the termination of any such Extended Interest Payment Period, Holdings the Company may pay all or any portion of the interest accrued on the Junior Subordinated Series [ ]% Debentures on any Interest Payment Date to holders of record on the regular record date for such Interest Payment Date or from time to time further extend such Period; provided that such Period together with all such previous and further extensions thereof shall not exceed 20 consecutive quarterly interest periods or extend beyond the stated maturity of the Junior Subordinated Debenturesperiods. Upon the termination of any Extended Interest Payment Period and upon the payment of all accrued and unpaid interest then due, together with Compounded Interest, Holdings the Company may select a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof. At the end of the Extended Interest Payment Period Holdings the Company shall pay all interest accrued and unpaid on the Junior Subordinated Series [ ]% Debentures including any Compounded Interest which shall be payable to the holders of the Junior Subordinated Series [ ]% Debentures in whose names the Junior Subordinated Series [ ]% Debentures are registered in the Debenture register on the first record date for the first interest payment date occurring on or after the end of the Extended Interest Payment Period.

Extension of Interest Payment Period. Section 3.1. So long as Holdings is not in default in the payment of interest on the Junior Subordinated Debentures, Holdings The Company shall have the right, right at any time during the term of the Junior Subordinated Debentures, and from time to time time, prior to extend August 18, 2003, to defer payments of interest by extending the interest payment period of such Junior Subordinated Debentures Senior Notes for up to 20 a period not exceeding 12 consecutive quarterly interest periods quarters or extending beyond August 18, 2003 (the "Extended Interest Payment Extension Period"), during which Extension Period no interest shall be due and payable. To the extent permitted by applicable law, interest, the payment of which has been deferred because of the extension of the interest payment period pursuant to this Section 2.8, will bear interest thereon at the rate of 7 3/4% compounded quarterly for each quarter of the Extension Period ("Compounded Interest"). At the end of which period Holdings the Extension Period, the Company shall pay all interest accrued and unpaid thereon on the Senior Notes and Compounded Interest (together with interest thereon at the rate of 9 1/2% per annumtogether, compounded quarterly "Deferred Interest") that shall be payable to the extent permitted by applicable law ("Compounded Interest"))Holders of the Senior Notes in whose names the Senior Notes are registered in the Security Register on the first Regular Record Date after the end of the Extension Period. During any such Extended Interest Payment Extension Period Holdings or an Event of Default, however, the Company shall not (a) make any payment of principal, interest or premium, if any, on or repay, repurchase or redeem any debt securities that rank junior to the Senior Notes in the right of payment issued by the Company, or (b) make any guarantee payments with respect to any guarantee by the Company of any securities of any of its subsidiaries if such guarantee ranks junior to the Senior Notes in right of payment or (c) declare or pay any dividend dividends or distributions on, or redeem, purchase, acquire or make a distribution or liquidation payment with respect to, any of its the Company's capital stock, except for or as a result of (i) dividends or distributions in, or options, warrants or rights to subscribe for or purchase, the Company's common stock; (ii) any declaration of a dividend in connection with the implementation of a shareholder's rights plan, or the issuance of shares under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto; (iii) a reclassification of the Company's capital stock solely into shares of one or more classes or series of the Company's capital stock or the exchange or conversion of one class or series of the Company's capital stock for or into another class or series of the Company's capital stock; (iv) the purchase of fractional interests in shares of the Company's capital stock pursuant to the conversion or exchange provisions of such capital stock or the security being converted or exchanged; and (v) the purchase of the Company's common stock in connection with the Company's normal course issuer bid-purchases for the satisfaction by the Company of its obligations under any benefit plans for the Company and the Company's subsidiaries' directors, officers or preferred stock, employees or make any guarantee payments with respect thereto; provided that Holdings may pay accrued dividends (and cash in lieu of fractional shares) upon the conversion, other than at the option of Holdings, of under any of its preferred stock, including its ESOP Preferred Stock, in accordance with the terms of such stockCompany's dividend reinvestment plans. Prior to the termination expiration of any such Extended Interest Payment Extension Period, Holdings the Company may pay all or any portion of the interest accrued on the Junior Subordinated Debentures on any Interest Payment Date to holders of record on the regular record date for such Interest Payment Date or from time to time further extend such Period; period, provided that such Period period together with all such previous and further extensions thereof shall not exceed 20 consecutive quarterly interest periods 12 quarters or extend beyond the stated maturity of the Junior Subordinated DebenturesAugust 18, 2003. Upon the termination of any Extended Interest Payment Extension Period and upon the payment of all accrued and unpaid interest Deferred Interest then due, together with Compounded Interest, Holdings the Company may select commence a new Extended Interest Payment Extension Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, Extension Period except at the end thereof. At , but the end Company, at its option, may prepay on any Interest Payment Date all or any portion of the Extended Interest Payment Period Holdings shall pay all interest accrued and unpaid on during the Junior Subordinated Debentures including any Compounded Interest which shall be payable to the holders then elapsed portion of the Junior Subordinated Debentures in whose names the Junior Subordinated Debentures are registered in the Debenture register on the record date for the first interest payment date occurring on or after the end of the Extended Interest Payment an Extension Period.

Extension of Interest Payment Period. Section 3.1. So long as Holdings no Event of Default has occurred and is not in default in continuing, the payment of interest on the Junior Subordinated Debentures, Holdings Company shall have the right, from time to time, and without causing an Event of Default, to defer payments of interest on the Debentures by extending the interest payment period on the Debentures at any time and from time to time during the term of the Junior Subordinated Debentures, from time to time to extend the interest payment period of such Junior Subordinated Debentures for up to 20 consecutive quarterly interest periods (the each such extended interest payment period, an "Extended Interest Payment Extension Period"), during which Extension Period no interest (including Additional Interest) shall be due and payable (except any Additional Sums that may be due and payable). No Extension Period may end on a date other than an Interest Payment Date. During an Extension Period, interest will continue to accrue on the Debentures, and interest on such accrued interest will accrue at an annual rate equal to the end of which period Holdings shall pay all interest accrued and unpaid thereon (together with interest thereon at the rate of 9 1/2% per annumInterest Rate in effect for such Extension Period, compounded quarterly from the date such interest would have been payable were it not for the Extension Period, to the extent permitted by applicable law (such interest referred to herein as "Compounded Additional Interest"). At the end of any such Extension Period the Company shall pay all interest then accrued and unpaid on the Debentures (together with Additional Interest thereon). During ; provided, however, that no Extension Period may extend beyond the Maturity Date; provided further, however, that during any such Extended Interest Payment Period Holdings Extension Period, the Company shall not and shall not permit any Affiliate of the Company controlled by the Company to (i) declare or pay any dividend dividends or distributions on, or redeem, purchase, acquire acquire, or make a distribution or liquidation payment with respect to, any of its common the Company's or such Affiliate's capital stock (other than payments of dividends or preferred stock, distributions to the Company or a Subsidiary of the Company) or make any guarantee payments with respect to the foregoing; or (ii) make any payment of principal of or interest or premium, if any, on or repay, repurchase or redeem any debt securities of the Company or any Affiliate of the Company controlled by the Company that rank pari passu in all respects with or junior in interest to the Debentures (other than, with respect to clauses (i) and (ii) above, (a) repurchases, redemptions or other acquisitions of shares of capital stock of the Company or any Subsidiary of the Company in connection with any employment contract, benefit plan or other similar arrangement with or for the benefit of one or more employees, officers, directors or consultants, in connection with a dividend reinvestment or stockholder stock purchase plan or in connection with the issuance of capital stock of the Company or of such Subsidiary (or securities convertible into or exercisable for such capital stock) as consideration in an acquisition transaction entered into prior to the applicable Extension Period, (b) as a result of any reclassification, exchange or conversion of any class or series of the Company's capital stock (or any capital stock of a Subsidiary of the Company) for any class or series of the Company's capital stock (or in the case of a Subsidiary of the Company, any class or series of such Subsidiary's capital stock) or of any class or series of the Company's indebtedness for any class or series of the Company's capital stock (or in the case of indebtedness of a Subsidiary of the Company, of any class or series of such Subsidiary's indebtedness for any class or series of such Subsidiary's capital stock), (c) the purchase of fractional interests in shares of the Company's capital stock (or the capital stock of a Subsidiary of the Company) pursuant to the conversion or exchange provisions of such capital stock or the security being converted or exchanged or pursuant to a merger, consolidation or other business combination, (d) any declaration of a dividend in connection with any stockholders' rights plan, or the issuance of rights, stock or other property under any stockholders' rights plan, or the redemption or repurchase of rights pursuant thereto; provided , (e) any dividend in the form of stock, warrants, options or other rights where the dividend stock or the stock issuable upon exercise of such warrants, options or other rights is the same stock as that Holdings may pay accrued dividends (on which the dividend is being paid or ranks pari passu with or junior to such stock and any cash payments in lieu of fractional sharesshares issued in connection therewith, or (f) upon payments under the conversion, other than at the option of Holdings, of any of its preferred stock, including its ESOP Preferred Stock, in accordance with the terms of such stockCapital Securities Guarantee). Prior to the termination of any such Extended Interest Payment Extension Period, Holdings the Company may pay all or any portion of the interest accrued on the Junior Subordinated Debentures on any Interest Payment Date to holders of record on the regular record date for such Interest Payment Date or from time to time further extend such Period; period, provided that such Period period together with all such previous and further consecutive extensions thereof shall not exceed 20 consecutive quarterly interest periods periods, or extend beyond the stated maturity of the Junior Subordinated DebenturesMaturity Date. Upon the termination of any Extended Interest Payment Extension Period and upon the payment of all accrued and unpaid interest then due, together with Compounded and Additional Interest, Holdings the Company may select commence a new Extended Interest Payment Extension Period, subject to the foregoing requirements. No interest or Additional Interest shall be due and payable during an Extended Interest Payment Extension Period, except at the end thereof, but each installment of interest that would otherwise have been due and payable during an Extension Period shall bear Additional Interest to the extent permitted by applicable law. At The Company must give the end Trustee notice of its election to begin or extend an Extension Period at least 5 Business Days prior to the regular record date (as such term is used in Section 2.8) immediately preceding the Interest Payment Date with respect to which interest on the Debentures would have been payable except for the election to begin or extend an Extension Period. The Trustee shall give notice of the Extended Interest Payment Company's election to begin a new Extension Period Holdings shall pay all interest accrued and unpaid on the Junior Subordinated Debentures including any Compounded Interest which shall be payable to the holders of the Junior Subordinated Debentures in whose names the Junior Subordinated Debentures are registered in the Debenture register on the record date for the first interest payment date occurring on or after the end of the Extended Interest Payment PeriodSecurityholders.

Extension of Interest Payment Period. Section 3.1SECTION 3.01. So long as Holdings the Company is not in default in the payment of interest on the Junior Subordinated Series ____% Debentures, Holdings the Company shall have the right, at any time during the term of the Junior Subordinated Series ____% Debentures, from time to time to extend the interest payment period of such Junior Subordinated Series ____% Debentures for up to 20 consecutive quarterly interest periods (the "Extended Interest Payment Period"), at the end of which period Holdings the Company shall pay all interest accrued and unpaid thereon (together with interest thereon at the rate of 9 1/2____% per annum, compounded quarterly annum to the extent permitted by applicable law law, compounded quarterly ("Compounded Interest")); provided that no Extended Interest Payment Period may extend beyond the Maturity Date or redemption date of the Series __% Debentures. During such Extended Interest Payment Period Holdings the Company shall not declare or pay any dividend on, or redeem, purchase, acquire or make a distribution or liquidation payment with respect to, any of its common stock or preferred stock, stock or make any guarantee payments with respect thereto; provided that Holdings may pay accrued the foregoing will not apply to any stock dividends (and cash paid by the Company in lieu of fractional shares) upon the conversion, other than at the option of Holdings, of any of its preferred stock, including its ESOP Preferred Common Stock, in accordance with the terms of such stock. Prior to the termination of any such Extended Interest Payment Period, Holdings the Company may pay all or any portion of the interest accrued on the Junior Subordinated Series ____% Debentures on any Interest Payment Date to holders of record on the regular record date for such Interest Payment Date or from time to time further extend such Period; provided that such Period together with all such previous and further extensions thereof shall not exceed 20 consecutive quarterly interest periods or extend beyond the stated maturity of the Junior Subordinated Debenturesperiods. Upon the termination of any Extended Interest Payment Period and upon the payment of all accrued and unpaid interest then due, together with Compounded Interest, Holdings the Company may select a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof. At the end of the Extended Interest Payment Period Holdings the Company shall pay all interest accrued and unpaid on the Junior Subordinated Series ____% Debentures including any Compounded Interest which shall be payable to the holders of the Junior Subordinated Series ____% Debentures in whose names the Junior Subordinated Series ____% Debentures are registered in the Debenture register on the first record date for the first interest payment date occurring on or after the end of the Extended Interest Payment Period.

Extension of Interest Payment Period. Section 3.1SECTION 3.01. So long as Holdings the Company is not in default in the payment of interest on the Junior Subordinated Series [ ]% Debentures, Holdings the Company shall have the right, at any time during the term of the Junior Subordinated Series [ ]% Debentures, from time to time to extend the interest payment period of such Junior Subordinated the Series [ ]% Debentures for up to a period not exceeding 20 consecutive quarterly interest periods (the an "Extended Interest Payment Period"); provided, however, that at the end of which any such period Holdings the Company shall pay all interest accrued and unpaid thereon (together with interest thereon on such accrued and unpaid interest at the rate of 9 1/2[ ]% per annum, compounded quarterly to the extent permitted by applicable law law, compounded quarterly ("Compounded Interest")). During such ; and provided, further that an Extended Interest Payment Period Holdings may not extend beyond the maturity of the Series [ ]% Debentures. During any Extended Interest Payment Period, the Company shall not declare or pay any dividend dividends on, or redeem, purchase, acquire or make a distribution or liquidation payment with respect to, any of its common stock or preferred stock, stock or make any guarantee payments on guarantees with respect thereto; provided provided, however, that Holdings may pay the foregoing restrictions shall not apply to (i) dividends, redemptions, purchases, acquisitions, distributions or payments made by the Company by way of issuance of shares of its capital stock, (ii) payments of accrued dividends (and cash in lieu of fractional shares) by the Company upon the conversionredemption, other than at the option of Holdings, exchange or conversion of any preferred stock of its preferred stock, including its ESOP Preferred Stock, the Company as may be outstanding from time to time in accordance with the terms of such preferred stock or (iii) cash payments made by the Company in lieu of delivering fractional shares upon the redemption, exchange or conversion of any preferred stock of the Company as may be outstanding from time to time in accordance with the terms of such preferred stock. Prior to the termination of any such Extended Interest Payment Period, Holdings the Company may pay all or any portion of the interest accrued on the Junior Subordinated Series [ ]% Debentures on any Interest Payment Date to holders of record on the regular record date for such Interest Payment Date or from time to time further extend such Extended Interest Payment Period; provided that such Extended Interest Payment Period together with all such previous and further extensions thereof shall may not exceed 20 consecutive quarterly interest periods or extend beyond the stated maturity of the Junior Subordinated Debenturesperiods. Upon the termination of any 13 10 Extended Interest Payment Period and upon the payment of all accrued and unpaid interest then due, together with Compounded Interest, Holdings the Company may select a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof. At the end of the any Extended Interest Payment Period Holdings Period, the Company shall pay all interest accrued and unpaid on the Junior Subordinated Debentures Series [ ]% Debentures, including any Compounded Interest which shall be payable Interest, to the holders of the Junior Subordinated Debentures in whose names the Junior Subordinated Series [ ]% Debentures are registered in on the Debenture register Register on the regular record date for the first interest payment date Interest Payment Date occurring on at or after the end of the Extended Interest Payment Period.

Extension of Interest Payment Period. Section 3.1SECTION 3.01. So long as Holdings the Company is not in default in the payment of interest on the Junior Subordinated Series [_] Debentures, Holdings the Company shall have the right, at any time during the term of the Junior Subordinated Series [_] Debentures, from time to time to extend the interest payment period of such Junior Subordinated Series [_] Debentures for up to 20 consecutive quarterly interest periods (the "Extended Interest Payment Period"), at the end of which period Holdings the Company shall pay all interest accrued and unpaid thereon (together with interest thereon at the rate of 9 1/2[____]% per annum, compounded quarterly annum to the extent permitted by applicable law law, compounded quarterly ("Compounded Interest")). During such Extended Interest Payment Period Holdings the Company shall not (i) declare or pay any dividend on, or redeem, purchase, acquire or make a distribution or liquidation payment with respect to, any of its common stock or preferred stock, stock or make any guarantee payments with respect theretothereto or (ii) make any payment of interest, premium (if any) or principal or any debt securities issued by the Company which rank pari passu with or junior to the Series [_] Debentures; provided that Holdings (i) the Company may pay accrued dividends (and cash in lieu of fractional shares) upon conversion of its Series D Mandatory Conversion Premium Dividend Preferred Stock or upon the conversion, other than at the option of Holdings, conversion of any other Preferred Stock of its preferred stockthe Company as may be outstanding from time to time, including its ESOP Preferred Stock, in each case in accordance with the terms of such stockstock and (ii) the foregoing will not apply to any stock dividends paid by the Company. Prior to the termination of any such Extended Interest Payment Period, Holdings the Company may pay all or any portion of the interest accrued on the Junior Subordinated Series [_] Debentures on any Interest Payment Date to holders of record on the regular record date for such Interest Payment Date or from time to time further extend such Period; provided that such Period together with all such previous and further extensions thereof shall not exceed 20 consecutive quarterly interest periods or extend beyond the stated maturity of the Junior Subordinated Debenturesperiods. Upon the termination of any Extended Interest Payment Period and upon the payment of all accrued and unpaid interest then due, together with Compounded Interest, Holdings the Company may select a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof. At the end of the Extended Interest Payment Period Holdings the Company shall pay all interest accrued and unpaid on the Junior Subordinated Series [_] Debentures including any Compounded Interest which shall be payable to the holders of the Junior Subordinated Series [_] Debentures in whose names the Junior Subordinated Series [_] Debentures are registered in the Debenture register on the first record date for the first interest payment date occurring on or after the end of the Extended Interest Payment Period.

Extension of Interest Payment Period. Section 3.1SECTION 3.01. So long as Holdings the Company is not in default in the payment of interest on the Junior Subordinated Series 5.375% Debentures, Holdings the Company shall have the right, at any time during the term of the Junior Subordinated Series 5.375% Debentures, from time to time to extend the interest payment period of such Junior Subordinated Series 5.375% Debentures for up to 20 consecutive quarterly interest periods (the "Extended Interest Payment Period"), at the end of which period Holdings the Company shall pay all interest accrued and unpaid thereon (together with interest thereon at the rate of 9 1/25.375% per annum, compounded quarterly annum to the extent permitted by applicable law law, compounded quarterly ("Compounded Interest")); provided that no Extended Interest Payment Period may extend beyond the Maturity Date or redemption date of the Series 5.375% Debentures. During such Extended Interest Payment Period Holdings the Company shall not declare or pay any dividend on, or redeem, purchase, acquire or make a distribution or liquidation payment with respect to, any of its common stock or preferred stock, stock or make any guarantee payments with respect thereto; provided that Holdings may pay accrued the foregoing will not apply to any stock dividends (and cash paid by the Company in lieu of fractional shares) upon the conversion, other than at the option of Holdings, of any of its preferred stock, including its ESOP Preferred Common Stock, in accordance with the terms of such stock. Prior to the termination of any such Extended Interest Payment Period, Holdings the Company may pay all or any portion of the interest accrued on the Junior Subordinated Series 5.375% Debentures on any Interest Payment Date to holders of record on the regular record date for such Interest Payment Date or from time to time further extend such Period; provided that such Period together with all such previous and further extensions thereof shall not exceed 20 consecutive quarterly interest periods or extend beyond the stated maturity of the Junior Subordinated Debenturesperiods. Upon the termination of any Extended Interest Payment Period and upon the payment of all accrued and unpaid interest then due, together with Compounded Interest, Holdings the Company may select a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof. At the end of the Extended Interest Payment Period Holdings the Company shall pay all interest accrued and unpaid on the Junior Subordinated Series 5.375% Debentures including any Compounded Interest which shall be payable to the holders of the Junior Subordinated Series 5.375% Debentures in whose names the Junior Subordinated Series 5.375% Debentures are registered in the Debenture register on the first record date for the first interest payment date occurring on or after the end of the Extended Interest Payment Period.

Extension of Interest Payment Period. Section 3.1. So long as Holdings no Event of Default has occurred and is not in default in continuing, the payment of interest on the Junior Subordinated Debentures, Holdings Company shall have the right, from time to time, and without causing an Event of Default, to defer payments of interest on the Debentures by extending the interest payment period on the Debentures at any time and from time to time during the term of the Junior Subordinated Debentures, from time to time to extend the interest payment period of such Junior Subordinated Debentures for up to 20 consecutive quarterly interest periods (the each such extended interest payment period, an "Extended Interest Payment PeriodEXTENSION PERIOD"), during which Extension Period no interest (including Additional Interest) shall be due and payable (except any Additional Sums that may be due and payable). No Extension Period may end on a date other than an Interest Payment Date. During an Extension Period, interest will continue to accrue on the Debentures, and interest on such accrued interest will accrue at an annual rate equal to the end of which period Holdings shall pay all interest accrued and unpaid thereon (together with interest thereon at the rate of 9 1/2% per annumInterest Rate in effect for such Extension Period, compounded quarterly from the date such interest would have been payable were it not for the Extension Period, to the extent permitted by applicable law (such interest referred to herein as "Compounded InterestADDITIONAL INTEREST"). At the end of any such Extension Period the Company shall pay all interest then accrued and unpaid on the Debentures (together with Additional Interest thereon). During ; PROVIDED, HOWEVER, that no Extension Period may extend beyond the Maturity Date; PROVIDED FURTHER, HOWEVER, that during any such Extended Interest Payment Period Holdings Extension Period, the Company shall not and shall not permit any Affiliate of the Company controlled by the Company to (i) declare or pay any dividend dividends or distributions on, or redeem, purchase, acquire acquire, or make a distribution or liquidation payment with respect to, any of its common the Company's or such Affiliate's capital stock (other than payments of dividends or preferred stock, distributions to the Company or an Affiliate of the Company controlled by the Company) or make any guarantee payments with respect to the foregoing; or (ii) make any payment of principal of or interest or premium, if any, on or repay, repurchase or redeem any debt securities of the Company or any Affiliate of the Company controlled by the Company that rank PARI PASSU in all respects with or junior in interest to the Debentures (other than, with respect to clauses (i) and (ii) above, (a) repurchases, redemptions or other acquisitions of shares of capital stock of the Company or any Affiliate of the Company controlled by the Company in connection with any employment contract, benefit plan or other similar arrangement with or for the benefit of one or more employees, officers, directors or consultants, in connection with a dividend reinvestment or stockholder stock purchase plan or in connection with the issuance of capital stock of the Company or of such Affiliate (or securities convertible into or exercisable for such capital stock) as consideration in an acquisition transaction entered into prior to the applicable Extension Period, (b) as a result of any exchange or conversion of any class or series of the Company's capital stock (or any capital stock of an Affiliate of the Company controlled by the Company) for any class or series of the Company's capital stock (or in the case of an Affiliate of the Company controlled by the Company, any class or series of such Affiliate's capital stock) or of any class or series of the Company's indebtedness for any class or series of the Company's capital stock (or in the case of indebtedness of an Affiliate of the Company controlled by the Company, of any class or series of such Affiliate's indebtedness for any class or series of such Affiliate's capital stock), (c) the purchase of fractional interests in shares of the Company's capital stock (or the capital stock of an Affiliate of the Company controlled by the Company) pursuant to the conversion or exchange provisions of such capital stock or the security being converted or exchanged, (d) any declaration of a dividend in connection with any stockholders' rights plan, or the issuance of rights, stock or other property under any stockholders' rights plan, or the redemption or repurchase of rights pursuant thereto; provided , (e) any dividend in the form of stock, warrants, options or other rights where the dividend stock or the stock issuable upon exercise of such warrants, options or other rights is the same stock as that Holdings may pay accrued dividends (on which the dividend is being paid or ranks PARI PASSU with or junior to such stock and any cash payments in lieu of fractional sharesshares issued in connection therewith, or (f) upon payments under the conversion, other than at the option of Holdings, of any of its preferred stock, including its ESOP Preferred Stock, in accordance with the terms of such stockCapital Securities Guarantee). Prior to the termination of any such Extended Interest Payment Extension Period, Holdings the Company may pay all or any portion of the interest accrued on the Junior Subordinated Debentures on any Interest Payment Date to holders of record on the regular record date for such Interest Payment Date or from time to time further extend such Period; period, provided that such Period period together with all such previous and further consecutive extensions thereof shall not exceed 20 consecutive quarterly interest periods periods, or extend beyond the stated maturity of the Junior Subordinated DebenturesMaturity Date. Upon the termination of any Extended Interest Payment Extension Period and upon the payment of all accrued and unpaid interest then due, together with Compounded and Additional Interest, Holdings the Company may select commence a new Extended Interest Payment Extension Period, subject to the foregoing requirements. No interest or Additional Interest shall be due and payable during an Extended Interest Payment Extension Period, except at the end thereof, but each installment of interest that would otherwise have been due and payable during an Extension Period shall bear Additional Interest to the extent permitted by applicable law. At The Company must give the end Trustee notice of its election to begin or extend an Extension Period at least 5 Business Days prior to the regular record date (as such term is used in Section 2.8) immediately preceding the Interest Payment Date with respect to which interest on the Debentures would have been payable except for the election to begin or extend an Extension Period. The Trustee shall give notice of the Extended Interest Payment Company's election to begin a new Extension Period Holdings shall pay all interest accrued and unpaid on the Junior Subordinated Debentures including any Compounded Interest which shall be payable to the holders of the Junior Subordinated Debentures in whose names the Junior Subordinated Debentures are registered in the Debenture register on the record date for the first interest payment date occurring on or after the end of the Extended Interest Payment PeriodSecurityholders.

Extension of Interest Payment Period. Unless otherwise specified as contemplated by Section 3.1. So 301 with respect to Securities of any series, the Company shall have the right at any time, so long as Holdings the Company is not in default in the payment of interest on the Junior Subordinated DebenturesSecurities of any series hereunder, Holdings shall have the rightto extend interest payment periods on all Securities of such series for a period of up to 60 consecutive months, and at, or at any time during the term of the Junior Subordinated Debenturesprior to, from time to time to extend the interest payment period of such Junior Subordinated Debentures for up to 20 consecutive quarterly interest periods (the "Extended Interest Payment Period"), at the end of which period Holdings any such extended interest payment period, the Company shall pay all interest then accrued and unpaid thereon (together with interest thereon at the rate of 9 1/2% per annum, compounded quarterly specified for such Securities to the extent permitted by applicable law ("Compounded Interest")). During law) in the same manner as provided for the payment of Defaulted Interest in Section 307 hereof; provided that, during any such Extended Interest Payment Period Holdings extended interest payment period, the Company shall not pay or declare or pay any dividend on, or redeem, purchase, acquire or make a distribution or liquidation payment with respect to, any of its common capital stock or preferred stock, or make any guarantee payments with respect thereto; provided that Holdings may pay accrued dividends to the foregoing (and cash in lieu of fractional shares) upon the conversion, other than at payments under the option of Holdings, of any of its preferred stock, including its ESOP Preferred Stock, in accordance with the terms of such stockGuarantee). Prior to the termination end of any such Extended Interest Payment Periodextended interest payment period of less than 60 consecutive months, Holdings the Company may pay all or any portion of further extend the interest accrued on the Junior Subordinated Debentures on any Interest Payment Date to holders of record on the regular record date for such Interest Payment Date or from time to time further extend such Period; payment period, provided that such Period extended interest payment period together with all such previous and further extensions thereof shall may not exceed 20 a period of 60 consecutive quarterly interest periods or extend beyond the stated maturity of the Junior Subordinated Debenturesmonths. Upon Following the termination of any Extended Interest Payment Period and upon extended interest payment period, if the payment of Company has paid all accrued and unpaid interest then due, (together with Compounded Interest, Holdings may select a new Extended Interest Payment Period, subject interest thereon at the rate specified for such Securities to the foregoing requirementsextent permitted by applicable law) required by the Securities for such period, the Company shall have the right to again extend the interest payment periods for up to 60 consecutive months as herein provided. No If the Partnership is the sole holder of Securities at the time the Company elects to extend an interest payment period, the Company shall give the Partnership and the Trustee notice of its selection of such extended interest payment period one Business Day prior to the earlier of (i) the date dividends on any series of the Preferred Securities would otherwise be payable and (ii) the date the Partnership is required to give notice of the record or payment date of such dividends to any national securities exchange on which the Preferred Securities of such series shall be due and payable during an Extended Interest Payment Period, except at the end thereof. At the end listed or to holders of the Extended Interest Payment Period Holdings Preferred Securities of such series, but in any event not less than two Business Days prior to such record date. The Company shall pay all cause the Partnership to give such notice of the Company's selection of any such extended interest accrued and unpaid on the Junior Subordinated Debentures including any Compounded Interest which shall be payable payment period to the holders of the Junior Subordinated Debentures in whose names Preferred Securities. If the Junior Subordinated Debentures are registered in Partnership is not the Debenture register on sole holder of Securities at the record date for time the first Company elects to extend an interest payment date occurring on or after period, the end Company shall give the holders of the Extended Securities and the Trustee notice of its selection of such extended interest payment period ten Business Days prior to the related Interest Payment PeriodDate.

Extension of Interest Payment Period. Section 3.1SECTION 3.01. So long as Holdings the Company is not in default in the payment of interest on the Junior Subordinated Series 8.30% Debentures, Holdings the Company shall have the right, at any time during the term of the Junior Subordinated Series 8.30% Debentures, from time to time to extend the interest payment period of such Junior Subordinated Series 8.30% Debentures for up to 20 consecutive quarterly interest periods (the "Extended Interest Payment Period"), at the end of which period Holdings the Company shall pay all interest accrued and unpaid thereon (together with interest thereon at the rate of 9 1/28.30% per annum, compounded quarterly annum to the extent permitted by applicable law law, compounded quarterly ("Compounded Interest")). During such Extended Interest Payment Period Holdings the Company shall not declare or pay any dividend on, or redeem, purchase, acquire or make a distribution or liquidation payment with respect to, any of its common stock or preferred stock, stock or make any guarantee payments with respect thereto; provided that Holdings (i) the Company may pay accrued dividends (and cash in lieu of fractional shares) upon conversion of its Series E Mandatory Conversion Premium Dividend Preferred Stock or upon the conversion, other than at the option of Holdings, conversion of any other preferred stock of its preferred stockthe Company as may be outstanding from time to time, including its ESOP Preferred Stock, in each case in accordance with the terms of such stockstock and (ii) the foregoing will not apply to any stock dividends paid by the Company. Prior to the termination of any such Extended Interest Payment Period, Holdings the Company may pay all or any portion of the interest accrued on the Junior Subordinated Series 8.30% Debentures on any Interest Payment Date to holders of record on the regular record date for such Interest Payment Date or from time to time further extend such Period; provided that such Period together with all such previous and further extensions thereof shall not exceed 20 consecutive quarterly interest periods or extend beyond the stated maturity of the Junior Subordinated Debenturesperiods. Upon the termination of any Extended Interest Payment Period and upon the payment of all accrued and unpaid interest then due, together with Compounded Interest, Holdings the Company may select a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof. At the end of the Extended Interest Payment Period Holdings the Company shall pay all interest accrued and unpaid on the Junior Subordinated Series 8.30% Debentures including any Compounded Interest which shall be payable to the holders of the Junior Subordinated Series 8.30% Debentures in whose names the Junior Subordinated Series 8.30% Debentures are registered in the Debenture register on the first record date for the first interest payment date occurring on or after the end of the Extended Interest Payment Period. The failure by the Company to make interest payments during an Extended Interest Payment Period would not constitute a default or Event of Default under the Indenture.

Extension of Interest Payment Period. Section 3.1. So long as Holdings is not in default in the payment of interest on the Junior Subordinated Debentures, Holdings shall have the right, at any time during the term of the Junior Subordinated Debentures, from time to time to extend the interest payment period of such Junior Subordinated Debentures for up to 20 consecutive quarterly interest periods (the "Extended Interest Payment Period"), at the end of which period Holdings shall pay all interest accrued and unpaid thereon (together with interest thereon on such accrued and unpaid interest at the rate of 9 1/28.30% per annum, compounded quarterly to the extent permitted by applicable law law, compounded monthly ("Compounded Interest")). During such ; and provided, further that an Extended Interest Payment Period Holdings may not extend beyond the maturity of the Series 8.30% Debentures. During any Extended Interest Payment Period, the Company shall not declare or pay any dividend dividends on, or redeem, purchase, acquire or make a distribution or liquidation payment with respect to, any of its common stock or preferred stock, stock or make any guarantee payments on guarantees with respect thereto; provided provided, however, that Holdings may pay the foregoing restrictions shall not apply to (i) dividends, redemptions, purchases, acquisitions, distributions or payments made by the Company by way of issuance of shares of its capital stock, (ii) payments of accrued dividends (and cash in lieu of fractional shares) by the Company upon the conversionredemption, other than at the option of Holdings, exchange or conversion of any preferred stock of its preferred stock, including its ESOP Preferred Stock, the Company as may be outstanding from time to time in accordance with the terms of such preferred stock or (iii) cash payments made by the Company in lieu of delivering fractional shares upon the redemption, exchange or conversion of any preferred stock of the Company as may be outstanding from time to time in accordance with the terms of such preferred stock. Prior to the termination of any such Extended Interest Payment Period, Holdings the Company may pay all or any portion of the interest accrued on the Junior Subordinated Series 8.30% Debentures on any Interest Payment Date to holders of record on the regular record date for such Interest Payment Date or from time to time further extend such Extended Interest Payment Period; provided that such Extended Interest Payment Period together with all such previous and further extensions thereof shall may not exceed 20 60 consecutive quarterly monthly interest periods or extend beyond the stated maturity of the Junior Subordinated Debenturesperiods. Upon the termination of any Extended Interest Payment Period and upon the payment of all accrued and unpaid interest then due, together with Compounded Interest, Holdings the Company may select a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof. At the end of the any Extended Interest Payment Period Holdings Period, the Company shall pay all interest accrued and unpaid on the Junior Subordinated Debentures Series 8.30% Debentures, including any Compounded Interest which shall be payable Interest, to the holders of the Junior Subordinated Debentures in whose names the Junior Subordinated Series 8.30% Debentures are registered in on the Debenture register Register on the regular record date for the first interest payment date Interest 12 11 Payment Date occurring on at or after the end of the Extended Interest Payment Period.

Extension of Interest Payment Period. Section 3.1. So long as Holdings is not in default in the payment of interest on the Junior Subordinated Debentures, Holdings shall have the right, at any time during the term of the Junior Subordinated Debentures, from time to time to extend the interest payment period of such Junior Subordinated Debentures for up to 20 consecutive quarterly interest periods (the "Extended Interest Payment Period"), at the end of which period Holdings shall pay all interest accrued and unpaid thereon (together with interest thereon at the rate of 9 1/2___% per annum, compounded quarterly to the extent permitted by applicable law ("Compounded Interest")). During such Extended Interest Payment Period Holdings shall not declare or pay any dividend on, or redeem, purchase, acquire or make a distribution or liquidation payment with respect to, any of its common stock or preferred stock, or make any guarantee payments with respect thereto; provided that Holdings may pay accrued dividends (and cash in lieu of fractional shares) upon the conversion, other than at the option of Holdings, mandatory conversion of any of its preferred stock, including its ESOP Preferred Stock, in accordance with the terms of such stock. Prior to the termination of any such Extended Interest Payment Period, Holdings may pay all or any portion of the interest accrued on the Junior Subordinated Debentures on any Interest Payment Date to holders of record on the regular record date for such Interest Payment Date or from time to time further extend such Period; provided that such Period together with all such previous and further extensions thereof shall not exceed 20 consecutive quarterly interest periods or extend beyond the stated maturity of the Junior Subordinated Debenturesperiods. Upon the termination of any Extended Interest Payment Period and upon the payment of all accrued and unpaid interest then due, together with Compounded Interest, Holdings may select a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof. At the end of the Extended Interest Payment Period Holdings shall pay all interest accrued and unpaid on the Junior Subordinated Debentures including any Compounded Interest which shall be payable to the holders of the Junior Subordinated Debentures in whose names the Junior Subordinated Debentures are registered in the Debenture register on the record date for the first interest payment date occurring on or after the end of the Extended Interest Payment Period.

Extension of Interest Payment Period. Section 3.1. So long as Holdings no Event of Default has occurred and is not in default in continuing, the payment of interest on the Junior Subordinated Debentures, Holdings Company shall have the right, from time to time, and without causing an Event of Default, to defer payments of interest on the Debentures by extending the interest payment period on the Debentures at any time and from time to time during the term of the Junior Subordinated Debentures, from time to time to extend the interest payment period of such Junior Subordinated Debentures for up to 20 consecutive quarterly interest periods (the each such extended interest payment period, an "Extended Interest Payment Extension Period"), during which Extension Period no interest (including Additional Interest) shall be due and payable (except any Additional Sums that may be due and payable). No Extension Period may end on a date other than an Interest Payment Date. During an Extension Period, interest will continue to accrue on the Debentures, and interest on such accrued interest will accrue at an annual rate equal to the end of which period Holdings shall pay all interest accrued and unpaid thereon (together with interest thereon at the rate of 9 1/2% per annumInterest Rate in effect for such Extension Period, compounded quarterly from the date such interest would have been payable were it not for the Extension Period, to the extent permitted by applicable law (such interest referred to herein as "Compounded Additional Interest"). At the end of any such Extension Period the Company shall pay all interest then accrued and unpaid on the Debentures (together with Additional Interest thereon). During ; provided, however, that no Extension Period may extend beyond the Maturity Date; provided further, however, that during any such Extended Interest Payment Period Holdings Extension Period, the Company shall not and shall not permit any Affiliate of the Company controlled by the Company to (i) declare or pay any dividend dividends or distributions on, or redeem, purchase, acquire acquire, or make a distribution or liquidation payment with respect to, any of its common the Company's or such Affiliate's capital stock (other than payments of dividends or preferred stock, distributions to the Company or a Subsidiary of the Company) or make any guarantee payments with respect to the foregoing; or (ii) make any payment of principal of or interest or premium, if any, on or repay, repurchase or redeem any debt securities of the Company or any Affiliate of the Company controlled by the Company that rank pari passu in all respects with or junior in interest to the Debentures (other than, with respect to clauses (i) and (ii) above, (a) repurchases, redemptions or other acquisitions of shares of capital stock of the Company or any Subsidiary of the Company in connection with any employment contract, benefit plan or other similar arrangement with or for the benefit of one or more employees, officers, directors or consultants, in connection with a dividend reinvestment or stockholder stock purchase plan or in connection with the issuance of capital stock of the Company or of such Subsidiary (or securities convertible into or exercisable for such capital stock) as consideration in an acquisition transaction entered into prior to the applicable Extension Period, (b) as a result of any exchange or conversion of any class or series of the Company's capital stock (or any capital stock of a Subsidiary of the Company) for any class or series of the Company's capital stock (or in the case of a Subsidiary of the Company, any class or series of such Subsidiary's capital stock) or of any class or series of the Company's indebtedness for any class or series of the Company's capital stock (or in the case of indebtedness of a Subsidiary of the Company, of any class or series of such Subsidiary's indebtedness for any class or series of such Subsidiary's capital stock), (c) the purchase of fractional interests in shares of the Company's capital stock (or the capital stock of a Subsidiary) pursuant to the conversion or exchange provisions of such capital stock or the security being converted or exchanged, (d) any declaration of a dividend in connection with any stockholders' rights plan, or the issuance of rights, stock or other property under any stockholders' rights plan, or the redemption or repurchase of rights pursuant thereto; provided , (e) any dividend in the form of stock, warrants, options or other rights where the dividend stock or the stock issuable upon exercise of such warrants, options or other rights is the same stock as that Holdings may pay accrued dividends (on which the dividend is being paid or ranks pari passu with or junior to such stock and any cash payments in lieu of fractional sharesshares issued in connection therewith, or (f) upon payments under the conversion, other than at the option of Holdings, of any of its preferred stock, including its ESOP Preferred Stock, in accordance with the terms of such stockCapital Securities Guarantee). Prior to the termination of any such Extended Interest Payment Extension Period, Holdings the Company may pay all or any portion of the interest accrued on the Junior Subordinated Debentures on any Interest Payment Date to holders of record on the regular record date for such Interest Payment Date or from time to time further extend such Period; period, provided that such Period period together with all such previous and further consecutive extensions thereof shall not exceed 20 consecutive quarterly interest periods periods, or extend beyond the stated maturity of the Junior Subordinated DebenturesMaturity Date. Upon the termination of any Extended Interest Payment Extension Period and upon the payment of all accrued and unpaid interest then due, together with Compounded and Additional Interest, Holdings the Company may select commence a new Extended Interest Payment Extension Period, subject to the foregoing requirements. No interest or Additional Interest shall be due and payable during an Extended Interest Payment Extension Period, except at the end thereof, but each installment of interest that would otherwise have been due and payable during an Extension Period shall bear Additional Interest to the extent permitted by applicable law. At The Company must give the end Trustee notice of its election to begin or extend an Extension Period at least 5 Business Days prior to the regular record date (as such term is used in Section 2.8) immediately preceding the Interest Payment Date with respect to which interest on the Debentures would have been payable except for the election to begin or extend an Extension Period. The Trustee shall give notice of the Extended Interest Payment Company's election to begin a new Extension Period Holdings shall pay all interest accrued and unpaid on the Junior Subordinated Debentures including any Compounded Interest which shall be payable to the holders of the Junior Subordinated Debentures in whose names the Junior Subordinated Debentures are registered in the Debenture register on the record date for the first interest payment date occurring on or after the end of the Extended Interest Payment PeriodSecurityholders.

Extension of Interest Payment Period. Section 3.1. So long as Holdings is not in default in the payment of interest on the Junior Subordinated Debentures, Holdings The Company shall have the right, right at any time, and from time to time, during the term of the Junior Subordinated DebenturesSenior Deferrable Notes, from time to time to extend defer payments of interest by extending the interest payment period of such Junior Subordinated Debentures Senior Deferrable Notes for up to 20 consecutive quarterly interest periods a period not extending, in the aggregate, beyond the Maturity Date of the Senior Deferrable Notes (the "Extended Interest Payment Extension Period"), during which Extension Period no interest shall be due and payable. To the extent permitted by applicable law, interest, the payment of which has been deferred because of the extension of the interest payment period pursuant to this Section 2.8, will bear interest thereon at the rate of 9% until August 16, 2003, and at the Reset Rate thereafter compounded quarterly for each quarter of the Extension Period ("Compounded Interest"). At the end of which period Holdings the Extension Period, the Company shall pay all interest accrued and unpaid thereon on the Senior Deferrable Notes and Compounded Interest (together with interest thereon at the rate of 9 1/2% per annumtogether, compounded quarterly "Deferred Interest") that shall be payable to the extent permitted by applicable law ("Compounded Interest"))Holders of the Senior Deferrable Notes in whose names the Senior Deferrable Notes are registered in the Security Register on the first Record Date after the end of the Extension Period. During any such Extended Interest Payment Extension Period Holdings or an Event of Default, however, the Company shall not (a) make any payment of principal, interest or premium, if any, on or repay, repurchase or redeem any debt securities that rank junior to the Senior Deferrable Notes in the right of payment issued by the Company, or (b) make any guarantee payments with respect to any guarantee by the Company of any securities of any of its subsidiaries if such guarantee ranks junior to the Senior Deferrable Notes in right of payment or (c) declare or pay any dividend dividends or distributions on, or redeem, purchase, acquire or make a distribution or liquidation payment with respect to, any of its common stock or preferred the Company's capital stock, except for or make as a result of dividends or distributions in, or options, warrants or rights to subscribe for or purchase, the Company's common stock; any guarantee payments with respect thereto; provided that Holdings may pay accrued dividends (and cash declaration of a dividend in lieu of fractional shares) upon the conversion, other than at the option of Holdings, of any of its preferred stock, including its ESOP Preferred Stock, in accordance connection with the terms of such stock. Prior to the termination of any such Extended Interest Payment Period, Holdings may pay all or any portion of the interest accrued on the Junior Subordinated Debentures on any Interest Payment Date to holders of record on the regular record date for such Interest Payment Date or from time to time further extend such Period; provided that such Period together with all such previous and further extensions thereof shall not exceed 20 consecutive quarterly interest periods or extend beyond the stated maturity of the Junior Subordinated Debentures. Upon the termination of any Extended Interest Payment Period and upon the payment of all accrued and unpaid interest then due, together with Compounded Interest, Holdings may select a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof. At the end of the Extended Interest Payment Period Holdings shall pay all interest accrued and unpaid on the Junior Subordinated Debentures including any Compounded Interest which shall be payable to the holders of the Junior Subordinated Debentures in whose names the Junior Subordinated Debentures are registered in the Debenture register on the record date for the first interest payment date occurring on or after the end of the Extended Interest Payment Period.implementation

Extension of Interest Payment Period. Section 3.1SECTION 3.01. So long as Holdings the Company is not in default in the payment of interest on the Junior Subordinated Series 5.375% Debentures, Holdings the Company shall have the right, at any time during the term of the Junior Subordinated Series 5.375% Debentures, from time to time to extend the interest payment period of such Junior Subordinated Series 5.375% Debentures for up to 20 consecutive quarterly interest periods (the "Extended Interest Payment Period"), at the end of which period Holdings the Company shall pay all interest accrued and unpaid thereon (together with interest thereon at the rate of 9 1/25.375% per annum, compounded quarterly annum to the extent permitted by applicable law law, compounded quarterly ("Compounded Interest")); provided that no Extended Interest Payment Period may extend beyond the Maturity Date or redemption date of the Series 5.375% Debentures. During such Extended Interest Payment Period Holdings the Company shall not (i) declare or pay any dividend on, or redeem, purchase, acquire or make a distribution or liquidation payment with respect to, any of its common stock or preferred stock, stock or make any guarantee payments with respect thereto; provided that Holdings the foregoing will not apply to any stock dividends or other stock distributions paid by the Company or (ii) make any payment of principal, interest or premium, if any, on or repay, repurchase or redeem any debt securities of the Company that rank pari passu with or junior in interest to the Series 5.375% Debentures. The provisions of the immediately preceding sentence will not restrict the ability of the Company to redeem rights issued pursuant to the Amended and Restated Rights Agreement, dated as of May 10, 1994 between the Company and Wachovia Bank of North Carolina, N.A., as Rights Agent, as it may pay accrued dividends (and cash in lieu of fractional shares) upon the conversion, other than at the option of Holdings, of any of its preferred stock, including its ESOP Preferred Stockbe amended from time to time, in accordance with an amount per right issued thereunder not to exceed that in effect on the terms of such stockdate hereof. Prior to the termination of any such Extended Interest Payment Period, Holdings the Company may pay all or any portion of the interest accrued on the Junior Subordinated Series 5.375% Debentures on any Interest Payment Date to holders of record on the regular record date for such Interest Payment Date or from time to time further extend such Period; provided that such Period together with all such previous and further extensions thereof shall not exceed 20 consecutive quarterly interest periods or extend beyond the stated maturity of the Junior Subordinated Series 5.375% Debentures. Upon the termination of any Extended Interest Payment Period and upon the payment of all accrued and unpaid interest then due, together with Compounded Interest, Holdings the Company may select a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof. At the end of the Extended Interest Payment Period Holdings the Company shall pay all interest accrued and unpaid on the Junior Subordinated Series 5.375% Debentures including any Compounded Interest which shall be payable to the holders of the Junior Subordinated Series 5.375% Debentures in whose names the Junior Subordinated Series 5.375% Debentures are registered in the Debenture register on the first record date for the first interest payment date occurring on or after the end of the Extended Interest Payment Period. The Company may prepay at any time all or any portion of the interest accrued during an Extension Period.

Extension of Interest Payment Period. Section 3.1SECTION 3.01. So long as Holdings the Company is not in default in the payment of interest on the Junior Subordinated Series 8.08% Debentures, Holdings the Company shall have the right, at any time during the term of the Junior Subordinated Series 8.08% Debentures, from time to time to extend the interest payment period of such Junior Subordinated the Series 8.08% Debentures for up to 20 a period not exceeding 60 consecutive quarterly monthly interest periods (the an "Extended Interest Payment Period"); PROVIDED, HOWEVER, that at the end of which any such period Holdings the Company shall pay all interest accrued and unpaid thereon (together with interest thereon on such accrued and unpaid interest at the rate of 9 1/28.08% per annum, compounded quarterly to the extent permitted by applicable law law, compounded monthly ("Compounded Interest")). During such ; and PROVIDED, FURTHER that an Extended Interest Payment Period Holdings may not extend beyond the maturity of the Series 8.08% Debentures. During any Extended Interest Payment Period, the Company shall not declare or pay any dividend dividends on, or redeem, purchase, acquire or make a distribution or liquidation payment with respect to, any of its common stock or preferred stock, stock or make any guarantee payments on guarantees with respect thereto; provided PROVIDED, HOWEVER, that Holdings may pay the foregoing restrictions shall not apply to (i) dividends, redemptions, purchases, acquisitions, distributions or payments made by the Company by way of issuance of shares of its capital stock, (ii) payments of accrued dividends (and cash in lieu of fractional shares) by the Company upon the conversionredemption, other than at the option of Holdings, exchange or conversion of any preferred stock of its preferred stock, including its ESOP Preferred Stock, the Company as may be outstanding from time to time in accordance with the terms of such preferred stock or (iii) cash payments made by the Company in lieu of delivering fractional shares upon the redemption, exchange or conversion of any preferred stock of the Company as may be outstanding from time to time in accordance with the terms of such preferred stock. Prior to the termination of any such Extended Interest Payment Period, Holdings the Company may pay all or any portion of the interest accrued on the Junior Subordinated Series 8.08% Debentures on any Interest Payment Date to holders of record on the regular record date for such Interest Payment Date or from time to time further extend such Extended Interest Payment Period; provided PROVIDED that such Extended Interest Payment Period together with all such previous and further extensions thereof shall may not exceed 20 60 consecutive quarterly monthly interest periods or extend beyond the stated maturity of the Junior Subordinated Debenturesperiods. Upon the termination of any Extended Interest Payment Period and upon the payment of all accrued and unpaid interest then due, together with Compounded Interest, Holdings the Company may select a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof. At the end of the any Extended Interest Payment Period Holdings Period, the Company shall pay all interest accrued and unpaid on the Junior Subordinated Debentures Series 8.08% Debentures, including any Compounded Interest which shall be payable Interest, to the holders of the Junior Subordinated Debentures in whose names the Junior Subordinated Series 8.08% Debentures are registered in on the Debenture register Register on the regular record date for the first interest payment date Interest Payment Date occurring on at or after the end of the Extended Interest Payment Period.