Common use of Extension of Interest Payment Period Clause in Contracts

Extension of Interest Payment Period. So long as no Event of Default has occurred and is continuing, the Company shall have the right, at any time and from time to time during the term of the Debentures, to defer payments of interest by extending the interest payment period of such Debentures for a period not exceeding 20 consecutive quarters (the "Extension Period"), during which Extension Period no interest shall be due and payable; provided that no Extension Period may extend beyond the Maturity Date. Interest, the payment of which has been deferred because of the extension of the interest payment period pursuant to this Section 4.1, shall bear interest thereon at the Coupon Rate compounded quarterly for each quarter of the Extension Period ("Compounded Interest"). At the end of the Extension Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the Debentures, including any Additional Interest and Compounded Interest (together, "Deferred Interest") that shall be payable to the holders of the Debentures in whose names the Debentures are registered in the Debenture Register on the first record date after the end of the Extension Period. Before the termination of any Extension Period, the Company may further extend such period, provided that such period together with all such further extensions thereof shall not exceed 20 consecutive quarters, or extend beyond the Maturity Date of the Debentures. 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. No interest shall be due and payable during an Extension Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period.

Appears in 6 contracts

Samples: Matrix Bancorp Capital Trust I, Matrix Bancorp Capital Trust I, Yardville Capital Trust

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Extension of Interest Payment Period. So long as no Event of Default has occurred and is continuing, the The Company shall have the right, at any time and from time to time during the term of the DebenturesNotes, from time to time, to defer payments of interest by extending the interest payment period of such Debentures Notes for a period not exceeding up to 20 consecutive quarters (the "Extension Extended Interest Payment Period"). To the extent permitted by applicable law, during which Extension Period no interest shall be due and payable; provided that no Extension Period may extend beyond the Maturity Date. Interestinterest, the payment of which has been deferred because of the extension of the interest payment period pursuant to this Section 4.1, shall will bear interest thereon at the Coupon Rate compounded quarterly for each quarter of the Extension Extended Interest Payment Period ("Compounded Interest"). At the end of the Extension Period, Extended Interest Payment Period the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the DebenturesNotes, including any Additional Deferred Interest and Compounded Interest (together, "Deferred Interest") that shall be payable payable, to the holders Holders of the Debentures Notes in whose names the Debentures Notes are registered in the Debenture Security Register on the first record date after the end of the Extension Extended Interest Payment Period. Before the termination of any Extension Extended Interest Payment Period, the Company may further extend such period, provided that such period together with all such further extensions thereof shall not exceed 20 consecutive quarters, or extend beyond the Maturity Date of the Debentures. Upon the termination of any Extension Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extension PeriodExtended Interest Payment Period as if no Extended Interest Payment Period had previously been declared, subject to the foregoing requirements. No interest shall be due and payable during an Extension Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period.

Appears in 5 contracts

Samples: Supplemental Indenture (Great Western Financial Trust I /De/), Supplemental Indenture (Great Western Financial Trust I /De/), Indenture (Great Western Financial Corp)

Extension of Interest Payment Period. So long as no Event of Default has occurred and is continuing, the The Company shall have the right, at any time and from time to time during prior to the term of the DebenturesMaturity Date, to defer payments of interest by extending extend the interest payment period of such Debentures Notes for a period not exceeding 20 up to twenty (20) consecutive quarters (the "Extension Extended Interest Payment Period"). To the extent permitted by applicable law, during which Extension Period no interest shall be due and payable; provided that no Extension Period may extend beyond the Maturity Date. Interestinterest, the payment of which has been deferred because of the extension of the interest payment period pursuant to this Section 4.1, shall will bear interest thereon compounded quarterly at the Coupon Rate compounded quarterly for each quarter of the Extension Extended Interest Payment Period ("Compounded Interest"). At the end of the Extension Extended Interest Payment Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the DebenturesNotes, including any Additional Interest and Compounded Interest (together, "Deferred Interest") that ), which shall be payable to the holders Holders of the Debentures Notes in whose names the Debentures Notes are registered in the Debenture Register security register maintained by the Registrar on the first record date Regular Record Date after the end of the Extension Extended Interest Payment Period. Before the termination of any Extension Extended Interest Payment Period, the Company may further extend such period, provided provided, however, that such period together with all previous and such further extensions thereof shall not exceed 20 twenty (20) consecutive quarters, quarters or extend beyond the Maturity Date of the DebenturesDate. Upon the termination of any Extension Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence select a new Extension Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extension Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period.

Appears in 5 contracts

Samples: First Supplemental Indenture (Delphi Financial Group Inc/De), Coastal Corp, Xl Capital LTD

Extension of Interest Payment Period. So long as no Event of Default has occurred and is continuing, the The Company shall have the right, at any time and from time to time during prior to the term of the DebenturesMaturity Date, to defer payments of interest by extending extend the interest payment period of such Debentures Notes for a period not exceeding 20 up to twenty (20) consecutive quarters (the "Extension Extended Interest Payment Period"). To the extent permitted by applicable law, during which Extension Period no interest shall be due and payable; provided that no Extension Period may extend beyond the Maturity Date. Interestinterest, the payment of which has been deferred because of the extension of the interest payment period pursuant to this Section 4.1, shall will bear interest thereon compounded quarterly at the Coupon Rate compounded quarterly for each quarter of the Extension Extended Interest Payment Period ("Compounded Interest"). At the end of the Extension Extended Interest Payment Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the DebenturesNotes, including any Additional Interest and Compounded Interest (together, "Deferred Interest") that ), which shall be payable to the holders Holders of the Debentures Notes in whose names the Debentures Notes are registered in the Debenture Register security register maintained by the Registrar on the first record date Regular Record Date after the end of the Extension Extended Interest Payment Period. Before the termination of any Extension Extended Interest Payment Period, the Company may further extend such period, provided that such period together with all such further extensions thereof shall not exceed 20 twenty (20) consecutive quarters, quarters or extend beyond the Maturity Date of the DebenturesDate. Upon the termination of any Extension Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence select a new Extension Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extension Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period.

Appears in 4 contracts

Samples: Tci Communications Inc, Tci Communications Financing Vi, Tci Communications Financing Iv

Extension of Interest Payment Period. So long as no Event of Default has occurred and is continuing, the The Company shall have the right, at any time and from time to time during the term of the DebenturesNotes, from time to time to defer payments the payment of interest by extending the interest payment period of such Debentures Notes for a period not exceeding up to 20 consecutive quarters (the "Extension Extended Interest Payment Period"), during which Extension Period no interest shall be due and payable; provided that no Extension Extended Interest Payment Period may extend beyond the Maturity DateDate of the Notes. InterestTo 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 4.1, shall will bear interest thereon at the Coupon Rate Rate, compounded quarterly quarterly, for each quarter of the Extension Extended Interest Payment Period ("Compounded Interest"). At the end of the Extension Period, Extended Interest Payment Period the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the Debentures, Notes including any Additional Interest and Compounded Interest (together, "Deferred Interest") that which shall be payable to the holders Holders of the Debentures Notes in whose names the Debentures Notes are registered in the Debenture Note Register on the first record date after the end of the Extension Extended Interest Payment Period. Before the termination of any Extension Extended Interest Payment Period, the Company may further extend such period, provided that such period together with all such further extensions thereof shall not exceed 20 consecutive quarters, or quarters and provided further that no Extended Interest Payment Period may extend beyond the Maturity Date of the DebenturesNotes. Upon the termination of any Extension Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence select a new Extension Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extension Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period.

Appears in 4 contracts

Samples: Third Supplemental Indenture (Household Capital Trust Iv), Fourth Supplemental Indenture (Household International Inc), Sixth Supplemental Indenture (Household Capital Trust Vii)

Extension of Interest Payment Period. So long as no Event of Default has occurred and is continuing, the The Company shall have the right, at any time and from time to time during prior to the term of the DebenturesMaturity Date, to defer payments of interest by extending extend the interest payment period of such Debentures for a period not exceeding 20 up to twenty (20) consecutive quarters (the "Extension Extended Interest Payment Period"). To the extent permitted by applicable law, during which Extension Period no interest shall be due and payable; provided that no Extension Period may extend beyond the Maturity Date. Interestinterest, the payment of which has been deferred because of the extension of the interest payment period pursuant to this Section 4.1, shall will bear interest thereon compounded quarterly at the Coupon Rate compounded quarterly for each quarter of the Extension Extended Interest Payment Period ("Compounded Interest"). At the end of the Extension Extended Interest Payment Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the Debentures, including any Additional Interest and Compounded Interest (together, "Deferred Interest") that ), which shall be payable to the holders Holders of the Debentures in whose names the Debentures are registered in the Debenture Register security register maintained by the Registrar on the first record date Regular Record Date after the end of the Extension Extended Interest Payment Period. Before the termination of any Extension Extended Interest Payment Period, the Company may further extend such period, provided provided, however, that such period together with all previous and such further extensions thereof shall not exceed 20 twenty (20) consecutive quarters, quarters or extend beyond the Maturity Date of the DebenturesDate. Upon the termination of any Extension Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence select a new Extension Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extension Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period. SECTION 4.2.

Appears in 4 contracts

Samples: Circus Finance Ii, Circus Finance Ii, Circus Finance Ii

Extension of Interest Payment Period. So long as no Event of Default has occurred and is continuing, the Company shall have the right, at any time and from time to time during the term of the Debentures, to defer payments of interest by extending the interest payment period of such Debentures for a period not exceeding 20 consecutive quarters (the "Extension Period"), during which Extension Period no interest shall be due and payable; provided that no Extension Period may extend beyond the Maturity Date. Interest, the payment of which has been deferred because of the extension of the interest payment period pursuant to this Section 4.1, shall bear interest thereon at the Coupon Rate compounded quarterly for each quarter of the Extension Period ("Compounded Interest"). At the end of the Extension Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the Debentures, including any Additional Interest Payments and Compounded Interest (together, "Deferred InterestPayments") that shall be payable to the holders of the Debentures in whose names the Debentures are registered in the Debenture Register on the first record date after the end of the Extension Period. Before the termination of any Extension Period, the Company may further extend such period, provided that such period together with all such further extensions thereof shall not exceed 20 consecutive quarters, or extend beyond the Maturity Date of the Debentures. Upon the termination of any Extension Period and upon the payment of all Deferred Interest Payments then due, the Company may commence a new Extension Period, subject to the foregoing requirements. No interest shall be due and payable during an Extension Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period.

Appears in 3 contracts

Samples: Indenture (Intrust Financial Corp /), Indiana United Bancorp, Intrust Capital Trust

Extension of Interest Payment Period. So SECTION 3.01. Subject to Section 4.06 of the Indenture, so long as no Event the Company shall not be in default in the payment of Default has occurred and is continuinginterest on the Series A Debentures, the Company shall have the right, at any time during the term of the Series A Debentures, to extend any interest payment period of such Series A Debentures at any time and from time to time during the term of the Debentures, to defer payments of interest by extending the interest payment period of such Debentures for a period not exceeding to exceed 20 consecutive calendar quarters from the last Interest Payment Date to which interest was paid in full and not to extend beyond the maturity of the Series A Debentures (the each, an "Extension Period"), during which provided that such Extension Period no ends on another Interest Payment Date. No interest shall be due and payable; provided that no payable during an Extension Period, but on the Interest Payment Date occurring at the end of each Extension Period the Company shall pay to the holders of record on the Record Date for such Interest Payment Date (regardless of who the holders of record may extend beyond have been on other dates during the Maturity Date. InterestExtension Period) all accrued and unpaid interest on the Series A Debentures, the payment of which has been deferred because of the extension of the interest payment period pursuant to this Section 4.1, shall bear together with interest thereon at the Coupon Rate compounded quarterly rate specified for each quarter of the Extension Period ("Compounded Interest")Series A Debentures. At the end of the Extension Period, the Company shall calculate (and deliver such calculation Prior to the Trustee) and pay all interest accrued and unpaid on the Debentures, including any Additional Interest and Compounded Interest (together, "Deferred Interest") that shall be payable to the holders of the Debentures in whose names the Debentures are registered in the Debenture Register on the first record date after the end of the Extension Period. Before the termination of any Extension Period, the Company may pay all or any portion of the interest accrued on the Series A Debentures on any Interest Payment Date to holders of record on the Record Date for that Interest Payment Date or from time to time further extend such the interest payment period, provided that any such period Extension Period, together with all such previous and further extensions thereof thereof, shall not exceed 20 consecutive quarters, calendar quarters or extend beyond the Maturity Date maturity of the Series A Debentures. If the Company shall elect to pay all of the interest accrued on the Series A Debentures on an Interest Payment Date during an Extension Period, that Extension Period shall automatically terminate on that Interest Payment Date. Upon the termination of any an Extension Period and upon the payment of all Deferred Interest amounts of interest then due, the Company may commence a new Extension Period, subject to the foregoing requirements. No interest shall be due and payable during an Extension Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period.

Appears in 3 contracts

Samples: Central Power And (Central Power & Light Co /Tx/), Public Service Co of Oklahoma, Southwestern Electric Power Co

Extension of Interest Payment Period. So long as no Event of Default has with respect to the Debentures under Section 2.9 of this First Supplemental shall have occurred and is be continuing, the Company shall have the right, right at any time and from time to time time, during the term of the Debentures, to defer payments of interest by extending the interest payment period of such Debentures for a period successive periods not exceeding 20 consecutive quarters for any such period (the each, an "Extension Period"), during which Extension Period no interest shall be due and payable; provided that no Extension Period may extend beyond the Maturity maturity of the Debentures or end on other than an Interest Payment Date. InterestTo 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 4.1, shall will bear interest thereon at the Coupon Rate compounded quarterly for each quarter of the Extension Period ("Compounded Compound Interest"). At the end of the Extension Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid interest on the Debentures, including including, to the extent permitted by law, any Additional Interest and Compounded Compound Interest (together, "Deferred Interest") ), to the Holders of record of the Debentures as they appear on the books and records of the Company at the close of business on the Regular Record Date for the Interest Payment Date upon which such Extension Period terminates; provided that any Additional Interest shall be payable to the holders of the Debentures in whose names the Debentures are registered in the Debenture Register on the first record date after the end of the Extension PeriodTrust rather than to such Holders. Before the termination of any Extension PeriodPeriod of less than 20 consecutive quarters, the Company may further extend such period, provided that such period together with all such previous and further extensions thereof shall not exceed 20 consecutive quarters, or extend beyond the Maturity Date maturity of the DebenturesDebentures and end other than on an Interest Payment 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. No interest shall be due and payable during an Extension Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period.

Appears in 3 contracts

Samples: Bay View Capital I, Bay View Capital I, Bay View Capital I

Extension of Interest Payment Period. So long as no Event Subject to Section 3.13 of Default has occurred and is continuingthe Indenture, the Company shall have the right, at any time and from time to time during the term of the Debentures, to defer payments of interest by extending the interest payment period of such Debentures for a period an Extension Period not exceeding 20 consecutive quarters (the "Extension Period")quarters, during which Extension Period no interest shall be due and payable; provided that no -------- Extension Period may end on a date other than an Interest Payment Date or extend beyond the Maturity Date. InterestTo 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 4.1, shall will bear interest thereon at the Coupon Interest Rate compounded quarterly for each quarter of the Extension Period ("Compounded Interest"). At the end of the Extension Period, the Company shall calculate (and deliver such calculation to the Trustee) and --------------------- pay all interest accrued and unpaid on the Debentures, including any Additional Interest Sums and Compounded Interest (together, "Deferred Interest") that shall be ----------------- payable to the holders Holders of the Debentures in whose names the Debentures are registered in the Debenture Security Register on the first record date after relating to the end of Interest Payment Date on which the Extension PeriodPeriod ends. Before the termination of any Extension Period, the Company may further extend defer payments of interest by further extending such period, provided that such period period, together with all such further -------- extensions thereof thereof, shall not exceed 20 consecutive quarters, or extend beyond the Maturity Date of the Debentures. 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. No interest shall be due and payable during an Extension Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period.

Appears in 2 contracts

Samples: Fourth Supplemental Indenture (Bank One Corp), Eighth Supplemental Indenture (Bank One Corp)

Extension of Interest Payment Period. So long as no Event of Default has occurred and is continuing, the The Company shall have the right, at any time and from time to time during the term of the DebenturesNotes, from time to defer payments of interest by extending time to extend the interest payment period of such Debentures Notes for a period not exceeding up to 20 consecutive quarters (the "Extension Extended Interest Payment Period"). To the extent permitted by applicable law, during which Extension Period no interest shall be due and payable; provided that no Extension Period may extend beyond the Maturity Date. Interestinterest, the payment of which has been deferred because of the extension of the interest payment period pursuant to this Section 4.1, shall will bear interest thereon at the Coupon Rate compounded quarterly for each quarter of the Extension Period ("Compounded Interest")Extended Interest Payment Period. At the end of the Extension Period, Extended Interest Payment Period the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the Debentures, Notes including any Additional Interest and Compounded Interest (together, "Deferred Interest") that which shall be payable to the holders of the Debentures Notes in whose names the Debentures Notes are registered in the Debenture Security Register on the first record date after the end of the Extension Extended Interest Payment Period. Before the termination of any Extension Extended Interest Payment Period, the Company may further extend such period, provided PROVIDED that such period together with all such further extensions thereof shall not exceed 20 consecutive quarters, or extend beyond the Maturity Date of the Debentures. Upon the termination of any Extension Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence select a new Extension Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extension Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period.

Appears in 2 contracts

Samples: Second Supplemental Indenture (Mediaone Finance Trust Ii), First Supplemental Indenture (Mediaone Finance Trust Ii)

Extension of Interest Payment Period. So long as no Event of Default has occurred and is continuing, the The Company shall have the right, at any time and from time to time during the term of the DebenturesNotes, from time to time, to defer payments of interest by extending the interest payment period of such Debentures Notes for a period not exceeding up to 20 consecutive quarters (the "Extension Extended Interest Payment Period"); provided, that during which Extension Period no interest any such Extended Interest Payment Period, (a) the Company shall be due not declare or pay dividends on, make any distribution with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to any of its capital stock, and payable; provided (b) the Company shall not make any payment of interest, principal or premium, if any, on or repay, repurchase or redeem any debt securities issued by the Company that no Extension Period may extend beyond rank pari passu with or junior to the Maturity DateNotes. InterestTo 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 4.1, shall will bear interest thereon at the Coupon Rate compounded quarterly for each quarter of the Extension Extended Interest Payment Period ("Compounded Interest"). At the end of the Extension Period, Extended Interest Payment Period the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the DebenturesNotes, including any Additional Deferred Interest and Compounded Interest (together, "Deferred Interest") that shall be payable payable, to the holders Holders of the Debentures Notes in whose names the Debentures Notes are registered in the Debenture Security Register on the first record date Regular Record Date after the end of the Extension Extended Interest Payment Period. Before the termination of any Extension Extended Interest Payment Period, the Company may further extend such period, provided that such period together with all such further extensions thereof shall not exceed 20 consecutive quarters, or extend beyond the Maturity Date of the Debentures. Upon the termination of any Extension Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extension Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extension Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period.

Appears in 2 contracts

Samples: First Supplemental Indenture (Reliastar Financing V), Reliastar Financing Ii

Extension of Interest Payment Period. So long as no an Event of Default has under Section 6.01 of the Base Indenture shall not have occurred and is be continuing, the Company shall have the right, subject to the provisions of Section 2.10 of the Base Indenture, at any time and from time to time during the term of the Debentures, to defer payments of interest by extending the interest payment period of such Debentures for a period not exceeding 20 ____ consecutive quarters semi-annual periods (the "Extension Period"), during which Extension Period no interest shall be due and payable; provided that no Extension Period may shall end on a date other than an Interest Payment Date or extend beyond the Stated Maturity Dateor any earlier redemption date. InterestTo 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 4.14.01, shall will bear interest thereon at the Coupon Rate compounded quarterly for each quarter of the Extension Period semiannually ("Compounded Interest"). At the end of the Extension Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the Debentures, including any Additional Sums, Additional Interest and Compounded Interest (together, "Deferred Interest") that shall be payable to the holders of the Debentures in whose names the Debentures are registered in the Debenture Register on the first record date after preceding the end of the Extension Period. Before the termination of any Extension Period, the Company may further extend such period, provided that such period together with all such further extensions thereof shall not exceed 20 10 consecutive quarterssemi-annual periods, or extend beyond the Stated Maturity Date of the Debenturesor any earlier redemption 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. No interest shall be due and payable during an Extension Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period.

Appears in 2 contracts

Samples: Indenture (Bear Stearns Capital Trust V), Bear Stearns Capital Trust V

Extension of Interest Payment Period. So long as no Event of Default has occurred and is continuing, the (a) The Company shall have the right, right at any time and from time to time during time, so long as no Event of Default with respect to the term of the DebenturesNotes has occurred and is continuing, to defer payments of interest by extending the interest payment period of such Debentures Notes for a period not exceeding 20 consecutive quarters extending beyond the Maturity Date (the an "Extension Period"), during which Extension Period no interest shall be due and payable; provided however, upon no less than two Business Days' notice to the Remarketing Agent prior to the Initial Remarketing Date or the Secondary Remarketing Date, as the case may be, the Company may elect that no Extension Period may extend beyond payments of interest will not be deferrable after the Maturity Reset Effective Date. InterestTo 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 4.1207, shall bear interest thereon will accrue (i) in the event of an Extension Period prior to the Reset Effective Date or in the event of a Failed Secondary Remarketing, at the Coupon rate of 10.25% per annum, and (ii) in the event of an Extension Period, if any, following the Reset Effective Date, at the Reset Rate per annum, in either case until such Deferred Interest is paid. Deferred Interest shall be compounded ("Compounded Interest") (x) quarterly for each quarter of the such Extension Period prior to the Reset Effective Date, ("Compounded Interest")y) quarterly for each quarter of such Extension Period prior to November 16, 2007 in the event of a Failed Secondary Remarketing, or (z) semiannually for each semiannual period of such Extension Period, if any, subsequent to the Reset Effective Date. At the end of the such Extension Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the Debentures, including any Additional Interest Notes and Compounded Interest (together, "Deferred Interest") that shall be payable to the holders Holders of the Debentures Notes in whose names the Debentures Notes are registered in the Debenture Security Register on the first record date Regular Record Date after the end of the Extension Period. Before Prior to the termination expiration of any Extension Period, the Company may further extend such period, provided that such period together with all such previous and further extensions thereof shall not exceed 20 consecutive quarters, or extend beyond the Maturity Date of the DebenturesDate. 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 provided that such Extension Period, together with all extensions thereof, may not extend beyond the foregoing requirementsMaturity Date. No interest shall be due and payable during an Extension Period, Period except at the end thereof, but the Company Company, at its option, may prepay at on any time Interest Payment Date all or any portion of the interest accrued during the then elapsed portion of an Extension Period.

Appears in 2 contracts

Samples: First Supplemental Indenture (Public Service Enterprise Group Inc), First Supplemental Indenture (Public Service Electric & Gas Co)

Extension of Interest Payment Period. (a) [So long as no Event of Default with respect to the Debentures has occurred and is continuing, the Company shall have the right, at any time and from time to time during the term of the Debentures, to defer payments of interest by extending the interest payment period of such Debentures for a period not exceeding 20 consecutive quarters (the "Extension Period"), during which Extension Period no interest shall be due and payable; provided that no Extension Period may extend beyond the Maturity DateStated Maturity. InterestTo 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 4.1205, shall will bear interest thereon at the Coupon Rate compounded quarterly for each quarter of the Extension Period ("Compounded Compound Interest"). At the end of the Extension Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the Debentures, including any Additional Interest and Compounded Compound Interest (together, "Deferred Interest") that shall be payable to the holders of the Debentures Holders in whose names the Debentures are registered in the Debenture Security Register on the first record date for the first Interest Payment Date after the end of the Extension Period. Before the termination of any Extension Period, the Company may further extend such period, provided that such period together with all such further extensions thereof shall not exceed 20 consecutive quarters, or extend beyond the Stated Maturity Date of the Debentures. 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. No interest shall be due and payable during an Extension Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period.]

Appears in 2 contracts

Samples: Dte Energy Co, Dte Energy Co

Extension of Interest Payment Period. So long as no Event the Company is not in default in the payment of Default has occurred and is continuinginterest on the Debentures, the Company shall have the right, at any time and from time to time during the term of the Debentures, from time to defer payments of interest by extending time to extend the interest payment period of such Debentures for a period not exceeding 20 up to 60 consecutive quarters months (the "Extension Period"), during which Extension Period no interest shall be due and payable; provided that no Extension Period may extend beyond at the Maturity Date. Interest, the payment end of which has been deferred because of period the extension of the Company shall pay all interest payment period pursuant to this Section 4.1, shall bear accrued and unpaid thereon (together with interest thereon at the Coupon Rate rate of 11.6% per annum to the extent permitted by applicable law, compounded quarterly for each quarter of the Extension Period monthly ("Compounded Interest")). At the end of the During such Extension Period, Period the Company shall calculate (and deliver such calculation 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. Prior to the Trustee) and pay all interest accrued and unpaid on the Debentures, including any Additional Interest and Compounded Interest (together, "Deferred Interest") that shall be payable to the holders of the Debentures in whose names the Debentures are registered in the Debenture Register on the first record date after the end of the Extension Period. Before the termination of any such Extension Period, the Company may pay all or any portion of the interest accrued on the 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 periodPeriod, provided that such period Extension Period together with all such further extensions thereof shall not exceed 20 60 consecutive quarters, or extend beyond the Maturity Date of the Debenturesmonths. Upon the termination of any Extension Period and upon the payment of all Deferred Interest accrued and unpaid interest then due, together with Compounded Interest, the Company may commence select a new Extension Period, subject to the foregoing requirements. No interest shall be due and payable during an Extension Period, except at the end thereof, but . At the end of the Extension Period the Company may prepay at shall pay all interest accrued and unpaid on the Debentures including any time all or any portion Compounded Interest which shall be payable to the holders of the interest accrued during an Debentures in whose names the Debentures are registered in the Debenture register on the first record date after the end of the Extension Period.

Appears in 2 contracts

Samples: Sunsource Inc, Sunsource Inc

Extension of Interest Payment Period. So long as no Event of Default has occurred and is continuing, the Company shall have the right, at any time and from time to time during the term of the Junior Subordinated Debentures, to defer payments of interest by extending the interest payment period of such Junior Subordinated Debentures for a period not exceeding 20 consecutive quarters (the "Extension Extended Interest Payment Period"), during which Extension Extended Interest Payment Period no interest shall be due and payable; provided that no Extension Extended Interest Payment Period may extend beyond the Maturity Date. InterestTo 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 4.14.01, shall will bear interest thereon at the Coupon Rate compounded quarterly for each quarter of the Extension Extended Interest Payment Period ("Compounded Interest"). At the end of the Extension Extended Interest Payment Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the Junior Subordinated Debentures, including any Additional Interest Sums and Compounded Interest (together, "Deferred Interest") that shall be payable to the holders Holders of the Junior Subordinated Debentures in whose names the Junior Subordinated Debentures are registered in the Debenture Securities Register on the first record date after for the Interest Payment Date coinciding with the end of the Extension Extended Interest Payment Period. Before the termination of any Extension Extended Interest Payment Period, the Company may further extend such period, provided that such period together with all such further extensions thereof shall not exceed 20 consecutive quarters, or extend beyond the Maturity Date of the Debentures. 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. No interest shall be due and payable during an Extension Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension PeriodDate.

Appears in 2 contracts

Samples: Ebh Capital Trust I, Ebh Capital Trust I

Extension of Interest Payment Period. (a) So long as no Event of Default with respect to the Debentures has occurred and is continuing, the Company shall have the right, at any time and from time to time during the term of the Debentures, to defer payments of interest by extending the interest payment period of such Debentures for a period not exceeding 20 consecutive quarters (the "Extension Period"), during which Extension Period no interest shall be due and payable; provided that no Extension Period may extend beyond the Maturity DateStated Maturity. InterestTo 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 4.1205, shall will bear interest thereon at the Coupon Rate compounded quarterly for each quarter of the Extension Period ("Compounded Compound Interest"). At the end of the Extension Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the Debentures, including any Additional Interest and Compounded Compound Interest (together, "Deferred Interest") that shall be payable to the holders of the Debentures Holders in whose names the Debentures are registered in the Debenture Security Register on the first record date for the first Interest Payment Date after the end of the Extension Period. Before the termination of any Extension Period, the Company may shorten or further extend such period, provided that such period together with all such further extensions thereof shall not exceed 20 consecutive quarters, or extend beyond the Stated Maturity Date of the Debentures. 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. No interest shall be due and payable during an Extension Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period.

Appears in 2 contracts

Samples: Fourth Supplemental Indenture (Dte Energy Co), Dte Energy Co

Extension of Interest Payment Period. So long as no Event of Default has occurred and is continuing, the Company shall have the right, at any time and from time to time during the term of the DebenturesSecurities, to defer payments of interest by extending the interest payment period of such Debentures Securities for a period not exceeding 20 consecutive quarters quarters, including the first such quarter during such extension period (the "Extension Period"), during which Extension Period no interest shall be due and payable; provided that no Extension Period may shall end on a date other than an Interest Payment Date or extend beyond the Maturity Date. InterestTo 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 4.116.1, shall will bear interest thereon at the Coupon Rate compounded quarterly quarterly, to the extent permitted by applicable law, for each quarter of the Extension Period ("Compounded Interest"). At the end of the Extension Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the DebenturesSecurities, including any Additional Interest and Compounded Interest (together, "Deferred Interest") that shall be payable to the holders of the Debentures Securities in whose names the Debentures Securities are registered in the Debenture Security Register 51 on the first record date after preceding the end of the Extension Period. Before the termination of any Extension Period, the Company may further extend defer payments of interest by further extending such period, provided that such period period, together with all such previous and further extensions thereof within such Extension Period, shall not exceed 20 consecutive quarters, including the first such quarter during such Extension Period, or extend beyond the Maturity Date of the DebenturesDate. 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. No interest shall be due and payable during an Extension Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period.

Appears in 1 contract

Samples: Life Financial Capital Trust

Extension of Interest Payment Period. So long as no Event of Default has occurred and is continuing, the The Company shall have the right, at any time and from time to time during the term of the DebenturesNotes, from time to defer payments of interest by extending time to extend the interest payment period of such Debentures Notes for a period not exceeding up to 20 consecutive quarters quarterly periods (the "Extension Extended Interest Payment Period"). To the extent permitted by applicable law, during which Extension Period no interest shall be due and payable; provided that no Extension Period may extend beyond the Maturity Date. Interestinterest, the payment of which has been deferred because of the extension of the interest payment period pursuant to this Section 4.1, shall will bear interest thereon at the Coupon Rate compounded quarterly for each quarter quarterly period of the Extension Period ("Compounded Interest")Extended Interest Payment Period. At the end of the Extension Period, Extended Interest Payment Period the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the Debentures, Notes including any Additional Interest and Compounded Interest (together, "Deferred Interest") that which shall be payable to the holders of the Debentures Notes in whose names the Debentures Notes are registered in the Debenture Security Register on the first record date after the end of the Extension Extended Interest Payment Period. Before the termination of any Extension Extended Interest Payment Period, the Company may further extend such period, provided that such period together with all such further extensions thereof shall not exceed 20 consecutive quarters, or extend beyond the Maturity Date of the Debenturesquarterly periods. Upon the termination of any Extension Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence select a new Extension Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extension Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period.

Appears in 1 contract

Samples: Indenture (Mediaone Group Inc)

Extension of Interest Payment Period. So long as no Event of Default has occurred and is continuing, the The Company shall have the right, right at any time and from time to time during time, so long as no Event of Default with respect to the term of the DebenturesSubordinated Notes has occurred and is continuing, to defer payments of interest by extending the interest payment period of such Debentures Subordinated Notes for a period not exceeding 20 consecutive quarters or extending beyond ________, 2006 (the an "Extension Period"), during which Extension Period no interest shall be due and payable; provided that no Extension Period may extend beyond . To the Maturity Date. Interestextent 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 4.12.8, shall will bear interest thereon at the Coupon rate of ____% per annum until _______, 2004, and at the Reset Rate thereafter, compounded quarterly for each quarter of the such Extension Period ("Compounded Interest"). At the end of the such Extension Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the Debentures, including any Additional Interest Subordinated Notes and Compounded Interest (together, "Deferred Interest") that shall be payable to the holders Holders of the Debentures Subordinated Notes in whose names the Debentures Subordinated Notes are registered in the Debenture Securities Register on the first record date after the end of the Extension Period. Before Prior to the termination expiration of any Extension Period, the Company may further extend such period, provided that such period together with all such previous and further extensions thereof shall not exceed 20 consecutive quarters, quarters or extend beyond the Maturity Date of the Debentures__________, 2006. 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 requirementsprovided that such Extension Period, together with all extensions thereof, may not exceed 20 consecutive quarters or extend beyond _____, 2006. No interest shall be due and payable during an Extension Period, Period except at the end thereof, but the Company Company, at its option, may prepay at on any time Interest Payment Date all or any portion of the interest accrued during the then-elapsed portion of an Extension Period.

Appears in 1 contract

Samples: Hfi Trust I

Extension of Interest Payment Period. (a) [So long as no Event of Default with respect to the Debentures has occurred and is continuing, the Company shall have the right, at any time and from time to time during the term of the Debentures, to defer payments of interest by extending the interest payment period of such Debentures for a period not exceeding 20 consecutive quarters (the "Extension Period"), during which Extension Period no interest shall be due and payable; provided except that no Extension Period may extend beyond the Maturity DateStated Maturity. InterestTo 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 4.1205, shall will bear interest thereon at the Coupon Rate compounded quarterly for each quarter of the Extension Period ("Compounded Compound Interest"). At the end of the Extension Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the Debentures, including any Additional Interest and Compounded Compound Interest (together, "Deferred Interest") that shall be payable to the holders of the Debentures Holders in whose names the Debentures are registered in the Debenture Security Register on the first record date for the first Interest Payment Date after the end of the Extension Period. Before the termination of any Extension Period, the Company may further extend such period, provided that such period together with all such further extensions thereof shall not exceed 20 consecutive quarters, or extend beyond the Stated Maturity Date of the Debentures. 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. No interest shall be due and payable during an Extension Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period.]

Appears in 1 contract

Samples: Dte Energy Co

Extension of Interest Payment Period. So long as no Event of Default has occurred and is continuing, the (a) The Company shall have the right, right at any time and from time to time during time, so long as no Event of Default with respect to the term of the DebenturesNotes has occurred and is continuing, to defer payments of interest by extending the interest payment period of such Debentures for a period the Notes to any subsequent Interest Payment Date, but not exceeding 20 consecutive quarters beyond November 16, 2005 (an "EXTENSION PERIOD"). Prior to the "expiration of any Extension Period"), during which the Company may further extend such Extension Period to any subsequent Interest Payment Date, but not beyond November 16, 2005. During any Extension Period, including as the same may be extended as provided in the preceding sentence, no interest shall be due and payable; provided that no Extension Period may extend beyond . To the Maturity Date. Interestextent 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 4.12.06, shall bear will accrue additional interest thereon at the Coupon Rate rate of 7.25% per annum to but excluding the date of payment, compounded quarterly for each quarter of the such Extension Period ("Compounded InterestCOMPOUNDED INTEREST"). At the end of the each Extension Period, including as the same may be extended as provided above, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the Debentures, including any Additional Interest Notes and Compounded Interest (together, "Deferred InterestDEFERRED INTEREST") that shall be payable to the holders of the Debentures Person in whose names name such Note, or any predecessor Note, is registered at the Debentures are registered in the Debenture Register close of business on the first record date after the end of the Extension Period. Before the termination of any Extension Period, the Company may further extend Record Date for such period, provided that such period together with all such further extensions thereof shall not exceed 20 consecutive quarters, or extend beyond the Maturity Date of the DebenturesInterest Payment 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 requirementsprovided that such Extension Period, together with all extensions thereof, may not extend beyond November 16, 2005. No interest shall be due and payable during an Extension Period, Period except at the end thereof, but except that prior to the Company end of such Extension Period, the Company, at its option, may prepay at on any time Interest Payment Date all or any portion of the interest Deferred Interest accrued during an the then elapsed portion of such Extension Period.

Appears in 1 contract

Samples: Phoenix Companies Inc/De

Extension of Interest Payment Period. So long as no Event Subject to Section 3.13 of Default has occurred and is continuingthe Indenture, the Company shall have the right, at any time and from time to time during the term of the Debentures, to defer payments of interest by extending the interest payment period of such Debentures for a period an Extension Period not exceeding 20 consecutive quarters (the "Extension Period")quarters, during which Extension Period no interest shall be due and payable; provided that no -------- Extension Period may end on a date other than an Interest Payment Date or extend beyond the Maturity Date. InterestTo 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 4.1, shall will bear interest thereon at the Coupon Interest Rate compounded quarterly for each quarter of the Extension Period ("Compounded Interest"). At the end of the Extension Period, the Company shall calculate (and deliver such calculation to the Trustee) and ------------------- pay all interest accrued and unpaid on the Debentures, including any Additional Interest Sums and Compounded Interest (together, "Deferred Interest") that shall be payable to the holders ----------------- Holders of the Debentures in whose names the Debentures are registered in the Debenture Security Register on the first record date after relating to the end of Interest Payment Date on which the Extension PeriodPeriod ends. Before the termination of any Extension Period, the Company may further extend defer payments of interest by further extending such period, provided that such period period, together with all such further extensions thereof -------- thereof, shall not exceed 20 consecutive quarters, or extend beyond the Maturity Date of the Debentures. 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. No interest shall be due and payable during an Extension Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period.

Appears in 1 contract

Samples: Bank One Capital V

Extension of Interest Payment Period. So long as no Event the Company is not in Default in the payment of Default has occurred and is continuinginterest, including contingent interest, if any, on the Debentures, the Company shall have the right, at any time and from time to time during the term of the Debentures, to defer payments of interest interest, other than contingent interest, by extending the interest payment period of such Debentures for a period not exceeding 20 consecutive quarters quarterly periods, including the first such quarterly period during such extension period (the "an “Extension Period"), during which Extension Period no interest (other than contingent interest) shall be due and payable; provided that no Extension Period may shall extend beyond the Stated Maturity Dateor, with respect to any Debentures called for redemption, the Redemption Date with respect to such Debentures. InterestTo 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 4.16.01, shall will bear interest thereon at the Coupon Rate compounded quarterly for each quarter quarterly period of the Extension Period ("Compounded Interest"). At the end of the Extension Period, which is an Interest Payment Date, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the Debentures, including any Additional Interest and Compounded Interest Debentures (together, "Deferred Interest") that shall be payable to the holders of the Debentures in whose names the Debentures are registered in the Debenture Security Register on the first record date after preceding the end of the Extension Period. Before the termination of any Extension Period, the Company may further extend defer payments of interest (other than contingent interest) by further extending such period, provided that such period period, together with all such previous and further extensions thereof within such Extension Period, shall not exceed 20 consecutive quartersquarterly periods, including the first such quarterly period during such Extension Period, or extend beyond the Stated Maturity Date of the Debentures or, with respect to any Debentures called for redemption, the Redemption Date with respect to such Debentures. If any Extension Period ends on a day that is not an Interest Payment Date, then on or prior to the last day of such Extension Period, the Company shall deposit with the Trustee the full amount of unpaid interest (other than contingent interest) that has accrued on the Debentures through the last Interest Payment Date that falls prior to the last day of the Extension Period, and on the Interest Payment Date following the last day of the Extension Period, all unpaid interest accrued on the Debentures through that following Interest Payment Date will be due and payable unless the Company further extends the Extension Period to a later date, in which case the amounts deposited with the Trustee shall be returned to the Company. 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. No interest (other than contingent interest) shall be due and payable during an Extension Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period. The payment of contingent interest may not, under any circumstances, be subject to an Extension Period.

Appears in 1 contract

Samples: Supplemental Indenture (Omnicare Inc)

Extension of Interest Payment Period. So long as no Event of Default under the Indenture has occurred and is continuing, the Company shall have the right, at any time and from time to time during the term of the Debentures, from time to time to defer payments the payment of interest and Additional Sums, if any, by extending the interest payment period of such Debentures Debenture for a period not exceeding 20 consecutive quarters (the an "Extension Period"), during which . No Extension Period no interest shall be due and payable; provided that no Extension Period may extend beyond the Stated Maturity Dateof the Debentures. InterestTo the extent permitted by applicable law, accrued and unpaid interest and Additional Sums, the payment of which has been deferred because of the extension of the interest payment period an Extension Period imposed pursuant to this Section 4.1the Indenture, shall will bear interest thereon at the Coupon Rate Additional Interest compounded quarterly for each quarter of the Extension Period ("Compounded Interest")quarterly. At the end of the Extension Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest then accrued and unpaid on the Debentures, including any Additional Interest and Compounded Interest (togetherAdditional Sums, "Deferred Interest") that shall be payable if applicable, to the holders of the Debentures in whose names the Debentures are registered in the Debenture Register on the first record date after Record Date preceding the end of the Extension Period. Before the termination of any Extension Period, the Company may elect to (i) shorten the Extension Period or (ii) further extend such periodExtension Period, provided that such period together with all such further extensions thereof shall not exceed 20 consecutive quarters, or extend beyond the Maturity Date of the DebenturesStated Maturity. Upon At any time following the termination of any Extension Period and upon the payment of all Deferred any accrued and unpaid Additional Interest and Additional Sums, if applicable, then due, the Company may commence elect to begin a new Extension Period, subject to the foregoing requirements. No interest or Additional Sums shall be due and payable during an Extension Period, except at the end thereof. Subject to certain exceptions set forth in the Indenture, but during any such Extension Period, the Company may prepay at shall not (i) declare or pay any time all dividends or distributions on, or redeem, purchase, acquire or make a liquidation payment with respect to, any portion of the Company's shares of beneficial interest, (ii) make any payment of principal of or interest accrued during or premium, if any, on, or repay, repurchase or redeem any indebtedness or debt securities of the Company that rank on a parity with or junior to the Debentures in right of payment or (iii) make any guarantee payments with respect to any guarantee by the Company of indebtedness or debt securities of any Subsidiary of the Company if such guarantee ranks on parity with or junior to the Debentures in right of payment. The Company shall give notice of its election to begin, shorten or extend an Extension PeriodPeriod as provided in the Indenture.

Appears in 1 contract

Samples: Supplemental Indenture (Senior Housing Properties Trust)

Extension of Interest Payment Period. (a) So long as no Event of Default with respect to the Debentures has occurred and is continuing, the Company shall have the right, at any time and from time to time during the term of the Debentures, to defer payments of interest by extending the interest payment period of such Debentures for a period not exceeding 20 40 consecutive quarters (the "an “Extension Period"), during which Extension Period no interest shall be due and payable; provided except that no Extension Period may extend beyond the Maturity DateStated Maturity. InterestTo 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 4.1205, shall will bear interest thereon at the Coupon Rate an annual rate of 4.375% compounded quarterly for each quarter of the Extension Period ("Compounded “Compound Interest"). At the end of the Extension Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the Debentures, including any Additional Interest and Compounded Compound Interest (together, "Deferred Interest") that shall be payable to the holders of the Debentures Holders in whose names the Debentures are registered in the Debenture Security Register on the first record date for the first Interest Payment Date after the end of the Extension Period. Before the termination of any Extension Period, the Company may shorten or further extend such period, provided that such period together with all such further extensions thereof shall not exceed 20 40 consecutive quarters, or extend beyond the Stated Maturity Date or Redemption Date, if earlier, of the Debentures. 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. No interest shall be due and payable during an Extension Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period.

Appears in 1 contract

Samples: Indenture (Dte Energy Co)

Extension of Interest Payment Period. So long as no Event of Default has occurred and is continuingExcept with respect to the Pre-Issuance Accrued Distribution, the Company shall have the right, at any time and from time to time during prior to the term of the DebenturesMaturity Date, to defer payments of interest by extending extend the interest payment period of such Debentures for a period not exceeding 20 up to twenty (20) consecutive quarters (the "Extension Extended Interest Payment Period"), during which Extension Period no interest shall be . Interest that is in arrears for more than one quarter (whether due and payable; provided that no Extension Period may extend beyond the Maturity Date. Interest, the payment of which has been deferred because of the to an extension of the interest payment period pursuant to this Section 4.1, shall bear 4.1 or otherwise) will accrue interest thereon at the Coupon Rate compounded quarterly for and the interest so accrued at the end of each quarter of and remaining unpaid will itself bear interest thereafter at the Extension Period Coupon Rate ("Compounded Interest")to the extent permitted by applicable law) until paid on the same basis. At the end of the Extension Extended Interest Payment Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the Debentures, including any Additional Interest and Compounded Interest (together, "Deferred Interest") that ), which shall be payable to the holders Holders of the Debentures in whose names the Debentures are registered in the Debenture Register security register maintained by the Registrar on the first record date Regular Record Date after the end of the Extension Extended Interest Payment Period. Before the termination of any Extension Extended Interest Payment Period, the Company may further extend such period, provided that such period together with all such further extensions thereof shall not exceed 20 twenty (20) consecutive quarters, quarters or extend beyond the Maturity Date of the DebenturesDate. Upon the termination of any Extension Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence select a new Extension Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extension Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period.

Appears in 1 contract

Samples: Ohio Edison Financing Trust Ii

Extension of Interest Payment Period. (a) So long as no Event of Default under Section 501 of the Base Indenture (as supplemented by Section 6.1 of this Supplemental Indenture) has occurred and is continuing, the Company shall have the right, at any time and from time to time during the term of the Debentures, from time to time to defer payments the payment of interest and Additional Sums, if any, by extending the interest payment period of such Debentures for a period not exceeding 20 consecutive quarters (the an "Extension Period"), during which . No Extension Period no interest shall be due and payable; provided that no Extension Period may extend beyond the Stated Maturity Dateof the Debentures. InterestTo the extent permitted by applicable law, accrued and unpaid interest and Additional Sums, the payment of which has been deferred because of the extension of the interest payment period an Extension Period imposed pursuant to this Section 4.1, shall will bear interest thereon at the Coupon Rate Additional Interest compounded quarterly for each quarter of the Extension Period ("Compounded Interest")quarterly. At the end of the Extension Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest then accrued and unpaid on the Debentures, including any Additional Interest and Compounded Interest (togetherAdditional Sums, "Deferred Interest") that shall be payable if applicable, to the holders of the Debentures in whose names the Debentures are registered in the Debenture Register on the first record date after Record Date preceding the end of the Extension Period. Before the termination of any Extension Period, the Company may elect to (i) shorten the Extension Period or (ii) further extend such periodExtension Period, provided that such period together with all such further extensions thereof shall not exceed 20 consecutive quarters, or extend beyond the Maturity Date of the DebenturesStated Maturity. Upon At any time following the termination of any Extension Period and upon the payment of all Deferred any accrued and unpaid Additional Interest and Additional Sums, if applicable, then due, the Company may commence elect to begin a new Extension Period, subject to the foregoing requirements. No interest or Additional Sums shall be due and payable during an Extension Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period.

Appears in 1 contract

Samples: Supplemental Indenture (Senior Housing Properties Trust)

Extension of Interest Payment Period. So long as no Event of Default has occurred and is continuing, the Company shall have the right, at any time and from time to time during the term of the DebenturesDebt Securities of any series, to defer payments of interest by extending the interest payment period of such Debentures Debt Securities for a period an Extended Interest Period not exceeding 20 consecutive quarters (the "Extension Period")quarters, during which Extension Extended Interest Period no interest shall be due and payable; provided that no Extension Extended Interest Period may extend beyond the Stated Maturity Date. Interest, for the payment of which has been deferred because principal of the extension Debt Securities of the interest payment period pursuant to this Section 4.1, shall bear interest thereon at the Coupon Rate compounded quarterly for each quarter of the Extension Period ("Compounded Interest")such series. At the end of the Extension Extended Interest Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay on the next Interest Payment Date all interest accrued and unpaid on the DebenturesDebt Securities of such series, including any additional payments and additional interest accrued thereon ("Additional Interest and Compounded Interest Interest"), (together, the "Deferred InterestPayments") that shall be payable to the holders Holders of the Debentures in whose names the Debentures are registered in the Debenture Register Registered Securities of such series on the first record date Regular Record Date after the end of the Extension Extended Interest Period. Before the termination of any Extension Extended Interest Period, the Company may further extend such period, provided that such period together with all such further extensions thereof shall not exceed 20 consecutive quarters, or extend beyond the Maturity Date of the Debenturessuch Debt Securities. Upon the termination of any Extension Extended Interest Period and upon the payment of all Deferred Interest Payments then due, the Company may commence a new Extension Extended Interest Period, subject to the foregoing requirements. No interest or Additional Interest shall be due and payable during an Extension Extended Interest Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest and Additional Interest accrued during an Extension Extended Interest Period.

Appears in 1 contract

Samples: Talx Corp

Extension of Interest Payment Period. So long as no Event of Default has occurred and is continuing, the Company shall have the right, at any time and from time to time during the term of the DebenturesNotes, to defer payments of interest by extending extend the interest payment period of all, but not part, of such Debentures Notes for a period not exceeding 20 up to ten (10) consecutive quarters semiannual periods (the an "Extension Period"), during which Extension Period no interest shall be due and payable; provided provided, that no Extension Period may shall extend beyond the Maturity Date. InterestTo 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 4.1, shall will bear interest thereon compounded semiannually at the Coupon Rate compounded quarterly for each quarter semiannual period of the Extension Period ("Compounded Interest"). At the end of the Extension Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the DebenturesNotes, including any Additional Compounded Interest and Compounded Additional Interest (together, "Deferred Interest") that which shall be payable to the holders of the Debentures Notes in whose names the Debentures Notes are registered in the Debenture Security Register on the first record date after immediately preceding the end of the Extension Period. Before the termination of any Extension Period, the Company may further extend such period, provided that such period together with all such further extensions thereof shall not exceed 20 ten (10) consecutive quarters, semiannual periods or extend beyond the Maturity Date of the DebenturesNotes. 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. No interest shall be due and payable during an Extension Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an any Extension Period. Compounded Interest and Additional Interest shall each be treated as interest for all purposes under the Indenture and this Fourth Supplemental Indenture.

Appears in 1 contract

Samples: Fourth Supplemental Indenture (Commonwealth Edison Co)

Extension of Interest Payment Period. So long as no Event of Default has occurred and is continuing, the The Company shall have the right, at any time and from time to time during the term of the Debentures, to defer payments of interest by extending the interest payment period of such Debentures for a period not exceeding 20 consecutive quarters extending beyond the date of maturity of the Debentures (the "Extension Extended Interest Payment Period"), during which Extension Extended Interest Payment Period no interest shall be due and payable; provided that no Extension Period may extend beyond . To the Maturity Date. Interestextent 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 4.13.1, shall will bear interest thereon at the Coupon Rate compounded quarterly for each quarter of the Extension Extended Interest Payment Period ("Compounded Interest"). At the end of the Extension Extended Interest Payment Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the Debentures, including any Additional Interest and Compounded Interest (together, "Deferred Interest") that shall be payable to the holders Holders of the Debentures in whose names the Debentures are registered in the Debenture Security Register on the first record date after the end of the Extension Extended Interest Payment Period. Before the termination of any Extension Extended Interest Payment Period, the Company may further extend such period, provided that such period together with all such further extensions thereof shall not exceed 20 consecutive quarters, or extend beyond the Maturity Date of the Debentures. 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. No interest shall be due and payable during an Extension Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period.together

Appears in 1 contract

Samples: MCN Corp

Extension of Interest Payment Period. (a) So long as no Event of Default with respect to the Debentures has occurred and is continuing, the Company shall have the right, at any time and from time to time during the term of the Debentures, to defer payments of interest by extending the interest payment period of such Debentures for a period not exceeding 20 40 consecutive quarters (the "an “Extension Period"), during which Extension Period no interest shall be due and payable; provided except that no Extension Period may extend beyond the Maturity DateStated Maturity. InterestTo 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 4.1205, shall will bear interest thereon at the Coupon Rate an annual rate of 5.25% compounded quarterly for each quarter of the Extension Period ("Compounded “Compound Interest"). At the end of the Extension Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the Debentures, including any Additional Interest and Compounded Compound Interest (together, "Deferred Interest") that shall be payable to the holders of the Debentures Holders in whose names the Debentures are registered in the Debenture Security Register on the first record date for the first Interest Payment Date after the end of the Extension Period. Before the termination of any Extension Period, the Company may shorten or further extend such period, provided that 8 such period together with all such further extensions thereof shall not exceed 20 40 consecutive quarters, or extend beyond the Stated Maturity Date or Redemption Date, if earlier, of the Debentures. 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. No interest shall be due and payable during an Extension Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period.

Appears in 1 contract

Samples: Supplemental Indenture (Dte Energy Co)

Extension of Interest Payment Period. So long as no Event the Company shall not be in default in the payment of Default has occurred and is continuinginterest on the Debentures, the Company shall have the right, at any time and from time to time during the term of the Debentures, to defer payments of interest by extending the interest payment period of such Debentures for a period not exceeding 20 consecutive quarters quarterly periods (the "Extension Extended Interest Payment Period"), during which Extension Extended Interest Payment Period no interest shall be due and payable; provided that no Extension Extended Interest Payment Period may extend beyond the Maturity DateStated Maturity. InterestTo 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 4.1, shall bear interest thereon at the Coupon Rate Rate, compounded quarterly quarterly, for each quarter quarterly period of the Extension Extended Interest Payment Period ("Compounded Compound Interest"). At After the end expiration of the Extension Extended Interest Payment Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the Debentures, including any Additional Compound Interest and Compounded Interest Additional Interest, if any (together, "Deferred Interest") that shall be payable ), on the first Interest Payment Date following the Extended Interest Payment Period to the holders of the Debentures Holders in whose names the Debentures are registered in the Debenture Security Register on the first record date after the end of the Extension Periodfor such Interest Payment Date. Before Prior to the termination of any Extension Extended Interest Payment Period, the Company may further extend such period, provided that such period period, together with all such further extensions thereof thereof, shall not exceed 20 consecutive quarters, quarterly periods or extend beyond the Stated Maturity Date of the Debentures. 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. No interest shall be due and payable during an Extension Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period.the

Appears in 1 contract

Samples: Indenture (Potomac Electric Power Co)

Extension of Interest Payment Period. (a) So long as no Event of Default with respect to the Debentures has occurred and is continuing, the Company shall have the right, at any time and from time to time during the term of the Debentures, to defer payments of interest by extending the interest payment period of such Debentures for a period not exceeding 20 consecutive quarters (the "Extension Period"), during which Extension Period no interest shall be due and payable; provided except that no Extension Period may extend beyond the Maturity DateStated Maturity. InterestTo 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 4.1205, shall will bear interest thereon at the Coupon Rate compounded quarterly for each quarter of the Extension Period ("Compounded Compound Interest"). At the end of the Extension Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the Debentures, including any Additional Interest and Compounded Compound Interest (together, "Deferred Interest") that shall be payable to the holders of the Debentures Holders in whose names the Debentures are registered in the Debenture Security Register on the first record date for the first Interest Payment Date after the end of the Extension Period. Before the termination of any Extension Period, the Company may shorten or further extend such period, provided that such period together with all such further extensions thereof shall not exceed 20 consecutive quarters, or extend beyond the Stated Maturity Date of the Debentures. 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. No interest shall be due and payable during an Extension Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period.

Appears in 1 contract

Samples: Supplemental Indenture (Dte Energy Co)

Extension of Interest Payment Period. So long as no an Event of Default has under Section 501 of the Indenture shall not have occurred and is be continuing, the Company shall have the right, at any time and from time to time during the term of the Convertible Debentures, to defer payments of interest by extending the interest payment period of such Convertible Debentures for a period not exceeding 20 consecutive quarters (the "Extension PeriodEXTENDED INTEREST PAYMENT PERIOD"), during which Extension Extended Interest Payment Period no interest shall be due and payable; provided PROVIDED that no Extension Extended Interest Payment Period may extend beyond the Maturity Date or any earlier Redemption Date. InterestTo 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 4.1, shall will bear interest thereon at the Coupon Rate compounded quarterly for each quarter of the Extension Extended Interest Payment Period ("Compounded InterestCOMPOUNDED INTEREST"). At the end of the Extension Extended Interest Payment Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid interest on the Convertible Debentures, including any Additional Interest and Compounded Interest (together, "Deferred InterestDEFERRED INTEREST") that shall be payable to the holders Holders of the Convertible Debentures in whose names the Convertible Debentures are registered in the Debenture Security Register on the first record date after the end of the Extension Period. Before the termination of any Extension Period, the Company may further extend such period, provided that such period together with all such further extensions thereof shall not exceed 20 consecutive quarters, or extend beyond the Maturity Date of the Debentures. 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. No interest shall be due and payable during an Extension Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period.Extended Interest

Appears in 1 contract

Samples: First Supplemental Indenture (Wendys International Inc)

Extension of Interest Payment Period. (a) So long as no Event of Default with respect to the Debentures has occurred and is continuing, the Company shall have the right, at any time and from time to time during the term of the Debentures, to defer payments of interest by extending the interest payment period of such Debentures for a period not exceeding 20 consecutive quarters (the "an “Extension Period"), during which Extension Period no interest shall be due and payable; provided except that no Extension Period may extend beyond the Maturity DateStated Maturity. InterestTo 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 4.1205, shall will bear interest thereon at the Coupon Rate an annual rate of 5.25% compounded quarterly for each quarter of the Extension Period ("Compounded “Compound Interest"). At the end of the Extension Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the Debentures, including any Additional Interest and Compounded Compound Interest (together, "Deferred Interest") that shall be payable to the holders of the Debentures Holders in whose names the Debentures are registered in the Debenture Security Register on the first record date for the first Interest Payment Date after the end of the Extension Period. Before the termination of any Extension Period, the Company may shorten or further extend such period, provided that such period together with all such further extensions thereof shall not exceed 20 consecutive quarters, or extend beyond the Stated Maturity Date of the Debentures. 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. No interest shall be due and payable during an Extension Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period.

Appears in 1 contract

Samples: Indenture (Dte Energy Co)

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Extension of Interest Payment Period. So long as no Event of Default has occurred and is continuing, the 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 Debentures, for up to defer payments of interest by extending the 20 consecutive quarterly periods (each such extended interest payment period of such Debentures for a period not exceeding 20 consecutive quarters (the period, an "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 Interest 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 law (such interest referred to herein as "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); provided provided, however, that no Extension Period may extend beyond the Maturity Date. Interest; provided further, the payment of which has been deferred because of the extension of the interest payment period pursuant to this Section 4.1however, shall bear interest thereon at the Coupon Rate compounded quarterly for each quarter of the Extension Period ("Compounded Interest"). At the end of the that during any such Extension Period, the Company shall calculate not and shall not permit any Affiliate to (and deliver i) declare or pay any dividends or distributions on, or redeem, purchase, acquire, or make a liquidation payment with respect to, any of the Company's or such calculation Affiliate's capital stock (other than payments of dividends or distributions to the TrusteeCompany) and pay all interest accrued and unpaid on the Debentures, including or make any Additional Interest and Compounded Interest (together, "Deferred Interest") that shall be payable to the holders of the Debentures in whose names the Debentures are registered in the Debenture Register on the first record date after the end of the Extension Period. Before the termination of any Extension Period, the Company may further extend such period, provided that such period together guarantee payments with all such further extensions thereof shall not exceed 20 consecutive quarters, or extend beyond the Maturity Date of the Debentures. 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 respect to the foregoing requirements. No interest shall be due and payable during an Extension Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period.Form 10.Exhibit 4.1

Appears in 1 contract

Samples: Indenture (Southwest Community Bancorp)

Extension of Interest Payment Period. 1. So long as no Event of Default with respect to the Debentures has occurred and is continuing, the Company shall have the right, at any time and from time to time during the term of the Debentures, to defer payments of interest by extending the interest payment period of such Debentures for a period not exceeding 20 40 consecutive quarters (the "an “Extension Period"), during which Extension Period no interest shall be due and payable; provided except that no Extension Period may extend beyond the Maturity DateStated Maturity. InterestTo 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 4.1205, shall will bear interest thereon at the Coupon Rate an annual rate of 4.375% compounded quarterly for each quarter of the Extension Period ("Compounded “Compound Interest"). At the end of the Extension Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the Debentures, including any Additional Interest and Compounded Compound Interest (together, "Deferred Interest") that shall be payable to the holders of the Debentures Holders in whose names the Debentures are registered in the Debenture Security Register on the first record date for the first Interest Payment Date after the end of the Extension Period. Before the termination of any Extension Period, the Company may shorten or further extend such period, provided that such period together with all such further extensions thereof shall not exceed 20 40 consecutive quarters, or extend beyond the Stated Maturity Date or Redemption Date, if earlier, of the Debentures. 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. No interest shall be due and payable during an Extension Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period.

Appears in 1 contract

Samples: Indenture (Dte Energy Co)

Extension of Interest Payment Period. So long as no Event of Default has occurred and is continuing, the (a) The Company ------------------------------------- shall have the right, at any time and from time to time during the term of the Debenturestime, to defer payments of interest by extending the interest payment period of such Debentures the Notes for a period not exceeding 20 consecutive quarters (the "Extension Period") not exceeding the Maturity Date (the "Maximum Deferral Period"), during which Extension Period no interest shall be due and payable; provided , provided, however that no any Extension Period may not extend beyond the Maturity Date and must end on an Interest Payment Date. InterestPrior to the expiration of any Extension Period, the Company may further extend such period, provided that such period together with all such previous and further extensions thereof shall not exceed the Maximum Deferral Period or extend beyond the Maturity Date and must end on an Interest Payment Date. 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 4.12.11, shall will bear interest thereon at the Coupon Rate rate of 7.00% compounded quarterly for each quarter of the Extension Period ("Compounded Interest"). At the end of the Extension Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the Debentures, including any Additional Interest Notes and Compounded Interest (together, "Deferred Interest") that shall be payable to the holders Holders of the Debentures Notes in whose names the Debentures Notes are registered in the Debenture Security Register on the first record date Regular Record Date after the end of the Extension Period. Before the termination of any Extension Period, the Company may further extend such period, provided that such period together with all such further extensions thereof shall not exceed 20 consecutive quarters, or extend beyond the Maturity Date of the Debentures. 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. No interest shall be due and payable during an Extension Period, Period except at the end thereof, but the Company Company, at its option, may prepay at on any time Interest Payment Date all or any portion of the interest accrued during the then elapsed portion of an Extension Period.

Appears in 1 contract

Samples: Second Supplemental Indenture (Raytheon Co/)

Extension of Interest Payment Period. So long as no Event of Default has occurred and is continuing, the Company shall have the right, at any time and from time to time during the term of the Debentures, to defer payments of interest by extending the interest payment period of such Debentures for a period not exceeding 20 consecutive quarters (the "Extension Period"), during which Extension Period no interest shall be due and payable; , provided that no Extension Period may extend beyond the Maturity Date or end on a date other than an Interest Payment Date. InterestTo 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 4.1, shall bear interest thereon at the Coupon Rate compounded quarterly for each quarter of the Extension Period ("Compounded Interest"). At the end of the Extension Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the Debentures, including any Additional Interest Payments and Compounded Interest (together, "Deferred Interest"Payments”) that shall be payable to the holders of the Debentures in whose names the Debentures are registered in the Debenture Register on the first record date after the end of the Extension Period. Before the termination of any Extension Period, the Company may further extend such periodperiod so long as no Event of Default has occurred and is continuing, provided that such period together with all such further extensions thereof shall not exceed 20 consecutive quarters, or extend beyond the Maturity Date of the Debentures. 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. No interest shall be due and payable during an Extension Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period.not

Appears in 1 contract

Samples: First Busey Statutory Trust V

Extension of Interest Payment Period. So long as no Event of Default has occurred and is continuing, the The Company shall have the right, at any time and from time to time during the term of the DebenturesDebt Securities, to defer payments of interest by extending the interest payment period of such Debentures Debt Securities for a period not exceeding 20 twenty (20) consecutive quarters quarterly periods (the "Extension Period"), during which Extension Period no interest shall be due and payable; provided that no Extension Period may extend beyond Maturity. To the Maturity Date. Interestextent 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 4.1, shall will bear interest thereon at the Coupon Rate compounded quarterly for each quarter quarterly period of the Extension Period ("Compounded Interest"). At the end of the Extension Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the DebenturesDebt Securities, including any Additional Interest and Compounded Interest (together, "Deferred Interest") that shall be payable to the holders Holders of the Debentures Debt Securities in whose names the Debentures Debt Securities are registered in the Debenture Securities Register on the first record date after the end of the Extension Period. 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 extensions thereof shall not exceed 20 twenty (20) consecutive quartersquarterly periods, or extend beyond the Maturity Date of the DebenturesDebt Securities. 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. No interest shall be due and payable during an Extension Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period.

Appears in 1 contract

Samples: Compass Trust Iii

Extension of Interest Payment Period. So long as no Event of Default has occurred and is continuing, the The Company shall have the right, at any time and from time to time during the term of the Debentures, so long as no Event of Default has occurred and is continuing, to defer payments of interest by extending the interest payment period of such Debentures for a period not exceeding 20 consecutive quarters quarterly periods (the "Extension Period"), during which Extension Period no interest shall be due and payable; provided that no Extension Period may extend beyond the Stated Maturity or end on a day other than an Interest Payment Date. InterestTo 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 4.1, shall will bear interest thereon at the Coupon Rate Rate, compounded quarterly for each quarter quarterly period of the Extension Period ("Compounded Interest")Period. At the end of the Extension Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest then accrued and unpaid (together with interest thereon at the Coupon Rate, compounded quarterly and computed on the Debenturesbasis of a 360-day year of twelve 30-day months and the actual days elapsed in a partial month in such period). The amount of additional interest payable for any full interest period will be computed by dividing the rate per annum by four. During an Extension Period, interest will continue to accrue and Holders of Debentures (or holders of Capital Securities while outstanding) will be required to accrue interest income for United States Federal income tax purposes, including any Additional Interest Sums and Compounded Interest compounded interest (together, "Deferred Interest") that shall be payable to the holders Holders of the Debentures in whose names the Debentures are registered in the Debenture Security Register on the first record date after the end of the Extension Period. 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 extensions thereof shall not exceed 20 consecutive quartersquarterly periods, or extend beyond the Stated Maturity, or except as provided below, end on a day other than an Interest Payment Date. In the event that the Stated Maturity Date is advanced to a date prior to the end of an Extension Period, such Extension Period shall be deemed to end on such date or such earlier date as may be determined by the Company. In the event that any Debentures are called for redemption on a date prior to the end of an Extension Period, with respect to such Debentures, such Extension Period shall be deemed to end on such date or such earlier date as may be determined by the Company. 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. No interest shall be due and payable during an Extension Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period. There is no limitation on the number of times that the Company may elect to begin an Extension Period.

Appears in 1 contract

Samples: International Paper Co /New/

Extension of Interest Payment Period. So long as no Event of Default has occurred and is continuing, the The Company shall have the right, at any time and from time to time during the term of the DebenturesNotes, from time to time to defer payments the payment of interest by extending the interest payment period of such Debentures Notes for a period not exceeding up to 20 consecutive quarters (the "Extension Extended Interest Payment Period"), during which Extension Period no interest shall be due and payable; provided that no Extension Extended Interest Payment Period may extend beyond the Maturity DateDate of the Notes. InterestTo 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 4.1, shall will bear interest thereon at the Coupon Rate Rate, compounded quarterly quarterly, for each quarter of the Extension Extended Interest Payment Period ("Compounded Interest"). At the end of the Extension Period, Extended Interest Payment Period the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the Debentures, Notes including any Additional Interest and Compounded Interest (together, "Deferred Interest") that which shall be payable to the holders Holders of the Debentures Notes in whose names the Debentures Notes are registered in the Debenture Note Register on the first record date after the end of the Extension Extended Interest Payment Period. Before the termination of any Extension Extended Interest Payment Period, the Company may further extend such period, provided that such period together with all such further extensions thereof shall not exceed 20 consecutive quarters, or quarters and provided further that no Extended Interest Payment Period may extend beyond the Maturity Date of the DebenturesNotes. Upon the termination of any Extension Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence select a new Extension Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extension Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period.. SECTION 4.2

Appears in 1 contract

Samples: Supplemental Indenture (Household Capital Trust Vi)

Extension of Interest Payment Period. So long as no Event of Default has occurred and is continuing, the (a) The Company shall have the right, right at any time and from time to time during time, so long as no Event of Default with respect to the term of the DebenturesNotes has occurred and is continuing, to defer payments of interest by extending the interest payment period of such Debentures the Notes for a period not exceeding 20 consecutive quarters extending beyond November 16, 2005 (the an "Extension PeriodEXTENSION PERIOD"), during which Extension Period no interest shall be due and payable; provided that no Extension Period may extend beyond . To the Maturity Date. Interestextent 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 4.12.06, shall bear will accrue additional interest thereon at the Coupon Rate rate of [___]% per annum to but excluding the date of payment, compounded quarterly for each quarter of the such Extension Period ("Compounded InterestCOMPOUNDED INTEREST"). At the end of the such Extension Period, which must be an Interest Payment Date, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the Debentures, including any Additional Interest Notes and Compounded Interest (together, "Deferred InterestDEFERRED INTEREST") that shall be payable to the holders of the Debentures Person in whose names name such Note, or any predecessor Note, is registered at the Debentures are registered in the Debenture Register close of business on the first record date after Record Date for such Interest Payment Date. Prior to the end of the Extension Period. Before the termination expiration of any Extension Period, the Company may further extend such period, provided that such period together with all such previous and further extensions thereof shall not exceed 20 consecutive quarters, or extend beyond the Maturity Date of the DebenturesNovember 16, 2005. 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 requirementsprovided that such Extension Period, together with all extensions thereof, may not extend beyond November 16, 2005. No interest shall be due and payable during an Extension Period, Period except at the end thereof, but except that prior to the Company end of such Extension Period, the Company, at its option, may prepay at on any time Interest Payment Date all or any portion of the interest accrued during an the then elapsed portion of such Extension Period.

Appears in 1 contract

Samples: Phoenix Companies Inc/De

Extension of Interest Payment Period. So long as no ---------------------------------------- Extension Event of Default has occurred and is continuing, the 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 Debentures, for up to defer payments of interest by extending the 20 consecutive quarterly periods (each such extended interest payment period of such Debentures for a period not exceeding 20 consecutive quarters (the period, an "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 Interest 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 law (such interest referred to herein as "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); provided provided, -------- however, that no Extension Period may extend beyond the Maturity Date. Interest; provided ------- -------- further, the payment of which has been deferred because of the extension of the interest payment period pursuant to this Section 4.1however, shall bear interest thereon at the Coupon Rate compounded quarterly for each quarter of the Extension Period ("Compounded Interest"). At the end of the that during any such Extension Period, the Company shall calculate (not ------- ------- and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the Debentures, including any Additional Interest and Compounded Interest (together, "Deferred Interest") that shall be payable to the holders of the Debentures in whose names the Debentures are registered in the Debenture Register on the first record date after the end of the Extension Period. Before the termination of any Extension Period, the Company may further extend such period, provided that such period together with all such further extensions thereof shall not exceed 20 consecutive quarterspermit any Affiliate to (i) declare or pay any dividends or distributions on, or extend beyond the Maturity Date redeem, purchase, acquire, or make a liquidation payment with respect to, any of the Debentures. 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. No interest shall be due and payable during an Extension Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period.the

Appears in 1 contract

Samples: Indenture (Intervest Bancshares Corp)

Extension of Interest Payment Period. So The Company shall have the right, at any time during the term of the Notes, so long as no Event of Default has occurred and is continuing, the Company shall have the right, at any time and from time to time during the term of the Debentures, to defer payments of interest by extending extend the interest payment period of for the Notes (each such Debentures for a period not exceeding 20 consecutive quarters (the deferral period, an "Extension Period"), during which Extension Period no the Company shall have the right to not make payments of interest shall be due on any Interest Payment Date, and payable; provided that no Extension Period may extend beyond the Maturity Date. Interest, the payment of which has been deferred because of the extension of the interest payment period pursuant to this Section 4.1, shall bear interest thereon at the Coupon Rate compounded quarterly for each quarter of the Extension Period ("Compounded Interest"). At the end of the which Extension Period, Period the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest then accrued and unpaid on the Debentures, including any Additional Interest and Compounded Interest thereon (together, "Deferred Interest") that shall be payable to the holders of the Debentures in whose names the Debentures are registered in the Debenture Register on the first record date after the end of the Extension Periodextent permitted by applicable law). Before Prior to the termination of any such Extension Period, the Company may further extend such period, Extension Period; provided that no such period together with all such further extensions thereof Extension Period shall not exceed 20 consecutive quarters, or extend beyond the Maturity Date of the DebenturesDate. Upon the termination of any Extension Period and upon the payment of all Deferred Interest accrued and unpaid interest then due, the Company may commence select a new Extension Period, subject to the foregoing above requirements. No interest shall be due and payable during an Extension Period, except at the end thereof, but . The Company shall give the Company may prepay at any time all or any portion Holders of the outstanding Notes notice of its selection of any such Extension Period at least ten Business Days prior to the date interest accrued on the Notes would have been payable but for the election to begin such Extension Period. Such notice shall specify the period selected. For the avoidance of doubt, except as provided in this SECTION 2.6, all provisions of this Agreement including without limitation SECTION 5, shall remain in full force and effect during an any Extension Period.

Appears in 1 contract

Samples: Remarketing and Contingent Purchase Agreement (Allied Capital Corp)

Extension of Interest Payment Period. So long as no Event of Default has occurred and is continuing, the The Company shall have the right, at any time and from time to time during the term of the DebenturesNotes, from time to time to defer payments the payment of interest by extending the interest payment period of such Debentures Notes for a period not exceeding 20 up to 10 consecutive quarters semiannual periods (the "Extension Extended Interest Payment Period"), during which Extension Period no interest shall be due and payable; provided that no Extension Extended Interest Payment Period may extend beyond the Maturity DateDate of the Notes. InterestTo 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 4.1, shall will bear interest thereon at the Coupon Rate Rate, compounded quarterly semiannually, for each quarter semiannual period of the Extension Extended Interest Payment Period ("Compounded Interest"). At the end of the Extension Period, Extended Interest Payment Period the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the Debentures, Notes including any Additional Interest and Compounded Interest (together, "Deferred Interest") that which shall be payable to the holders Holders of the Debentures Notes in whose names the Debentures Notes are registered in the Debenture Note Register on the first record date after the end of the Extension Extended Interest Payment Period. Before the termination of any Extension Extended Interest Payment Period, the Company may further extend such period, provided that such period together with all such further extensions thereof shall not exceed 20 10 consecutive quarters, or semiannual period and provided further that no Extended Interest Payment Period may extend beyond the Maturity Date of the DebenturesNotes. Upon the termination of any Extension Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence select a new Extension Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extension Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period.

Appears in 1 contract

Samples: Fourth Supplemental Indenture (Household International Inc)

Extension of Interest Payment Period. So long as no Event of Default has occurred and is continuing, the The Company shall have the right, at any time and from time to time during the term of the DebenturesNotes, so long as no Event of Default with respect to the Notes has occurred and is continuing, to defer payments of interest by extending the interest payment period of such Debentures Notes for a period not exceeding 20 consecutive quarters (the "Extension Extended Interest Payment Period"), during which Extension Extended Interest Payment Period no interest shall be due and payable; provided that no Extension Extended Interest Payment Period may extend beyond the Maturity Date. InterestTo 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 4.1206, shall will bear interest thereon at the Coupon Rate compounded quarterly for each quarter of the Extension Extended Interest Payment Period ("Compounded Interest"). At the end of the Extension Extended Interest Payment Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the DebenturesNotes, including any Additional Interest and Compounded Interest (together, "Deferred Interest") that shall be payable to the holders Holders of the Debentures Notes in whose names the Debentures Notes are registered in the Debenture Security Register on the first record date after the end of the Extension Extended Interest Payment Period. Before the termination of any Extension Extended Interest Payment Period, the Company may further extend such period, provided that such period together with all such further extensions thereof shall not exceed 20 consecutive quarters, or extend beyond the Maturity Date of the Debentures. 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. No interest shall be due and payable during an Extension Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period.consecutive

Appears in 1 contract

Samples: Indenture (Teco Energy Inc)

Extension of Interest Payment Period. SECTION 3.01. So long as no Event the Company is not in default in the payment of Default has occurred and is continuinginterest on the Series [ ]% Debentures, the Company shall have the right, at any time and from time to time during the term of the Series [ ]% Debentures, from time to defer payments of interest by extending time to extend the interest payment period of such Series [ ]% Debentures for a period not exceeding up to [20 consecutive quarters quarterly][10 consecutive semi-annual] interest periods (the "Extension Extended Interest Payment Period"), during which Extension Period no interest shall be due and payable; provided that no Extension Period may extend beyond at the Maturity Date. Interest, the payment end of which has been deferred because of period the extension of the Company shall pay all interest payment period pursuant to this Section 4.1, shall bear accrued and unpaid thereon (together with interest thereon at the Coupon Rate rate of [ ]% per annum to the extent permitted by applicable law, compounded quarterly for each quarter of the Extension Period ("Compounded Interest")). At the end of the Extension Period, Extended Interest Payment Period the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the Debentures, Series [ ]% Debentures including any Additional Interest and Compounded Interest (together, "Deferred Interest") that which shall be payable to the holders of the Series [ ]% Debentures in whose names the Series [ ]% Debentures are registered in the Debenture Register register on the first record date after the end of the Extension Extended Interest Payment Period. Before Prior to the termination of any Extension such Extended Interest Payment Period, the Company may further extend such period, Period; provided that such period Period together with all such further extensions thereof shall not exceed [20 consecutive quarters, or extend beyond the Maturity Date of the Debenturesquarterly][10 semi-annual] interest periods. Upon the termination of any Extension Extended Interest Payment Period and upon the payment of all Deferred Interest accrued and unpaid interest then due, together with Compounded Interest, the Company may commence select a new Extension Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extension Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period.

Appears in 1 contract

Samples: Nationwide Financial Services Inc/

Extension of Interest Payment Period. So long as no Event of Default has occurred and is continuing, the Company shall have the right, at any time and from time to time during the term of the Debentures, to defer payments of interest by extending the interest payment period of such Debentures for a period not exceeding 20 consecutive quarters (the "Extension Period"), during which Extension Period no interest shall be due and payable; provided that no Extension Period may extend beyond the Maturity Date. Interest, the payment of which has been deferred because of the extension of the interest payment period pursuant to this Section 4.1, shall bear interest thereon at the Coupon Rate compounded quarterly for each quarter of the Extension Period ("Compounded Interest"). At the end of the Extension Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the Debentures, including any Additional Interest Payments and Compounded Interest (together, "Deferred InterestPayments") that shall be payable to the holders of the Debentures in whose names the Debentures are registered in the Debenture Register on the first record date after the end of the Extension Period. Before the termination of any Extension Period, the Company may further extend such period, provided that such period together with all such further extensions thereof shall not exceed 20 consecutive quarters, or extend beyond the Maturity Date of the Debentures. Upon the termination of any Extension Period and upon the payment of all Deferred Interest Payments then due, the Company may commence a new Extension Period, subject to the foregoing requirements. No interest shall be due and payable during an Extension Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period.an

Appears in 1 contract

Samples: First America Capital Trust

Extension of Interest Payment Period. (a) So long as no Event of Default with respect to the Debentures has occurred and is continuing, the Company shall have the right, at any time and from time to time during the term of the Debentures, to defer payments of interest by extending the interest payment period of such Debentures for a period not exceeding 20 40 consecutive quarters (the "an “Extension Period"), during which Extension Period no interest shall be due and payable; provided except that no Extension Period may extend beyond the Maturity DateStated Maturity. InterestTo 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 4.1205, shall will bear interest thereon at the Coupon Rate an annual rate of 5.375% compounded quarterly for each quarter of the Extension Period ("Compounded “Compound Interest"). At the end of the Extension Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the Debentures, including any Additional Interest and Compounded Compound Interest (together, "Deferred Interest") that shall be payable to the holders of the Debentures Holders in whose names the Debentures are registered in the Debenture Security Register on the first record date for the first Interest Payment Date after the end of the Extension Period. Before the termination of any Extension Period, the Company may shorten or further extend such period, provided that such period together with all such further extensions thereof shall not exceed 20 40 consecutive quarters, or extend beyond the Stated Maturity Date or Redemption Date, if earlier, of the Debentures. 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. No interest shall be due and payable during an Extension Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period.

Appears in 1 contract

Samples: Dte Energy Co

Extension of Interest Payment Period. So long as no Event of Default has occurred and is continuing, the The Company shall have the right, at any time and from time to time during the term of the Debentures, provided no Event of Default has occurred and is continuing to defer payments of interest (including any Liquidated Damages) by extending the interest payment period of such the Debentures for a period not exceeding 20 10 consecutive quarters semi-annual periods (the "Extension Period"), during which Extension Period no interest shall be due and payablepayable on Debentures; provided that no Extension Period may extend beyond the Maturity Dateof any Debenture with respect to such Debenture. InterestTo 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 4.112.1, shall will bear interest thereon at the Coupon Rate compounded quarterly semi-annually for each quarter semi-annual period of the Extension Period ("Compounded Interest"). At the end of the any Extension Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the such Debentures, including any Additional Interest and Compounded Interest (together, "Deferred Interest") that shall be payable to the holders Holders of the Debentures in whose names the such Debentures are registered in the Debenture Register on the first record date after the end of the such Extension Period. Before the termination of any Extension Period, the Company may further extend such period, ; provided that such period together with all such further extensions thereof thereof, shall not exceed 20 10 consecutive quarters, or extend beyond the Maturity Date of the Debenturessemi-annual periods. 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. No interest on Debentures shall be due and payable during an Extension Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an any Extension Period.

Appears in 1 contract

Samples: Renaissancere Holdings LTD

Extension of Interest Payment Period. So long as no Event of Default has occurred and is continuing, the (a) The Company shall have the right, right at any time and from time to time during time, so long as no Event of Default with respect to the term of the DebenturesNotes has occurred and is continuing, to defer payments of interest by extending the interest payment period of such Debentures for a period the Notes to any subsequent Interest Payment Date, but not exceeding 20 consecutive quarters beyond February 16, 2006 (the an "Extension Period"). Prior to the expiration of any Extension Period, during which the Company may further extend such Extension Period to any subsequent Interest Payment Date, but not beyond February 16, 2006. During any Extension Period, including as the same may be extended as provided in the preceding sentence, no interest shall be due and payable; provided that no Extension Period may extend beyond . To the Maturity Date. Interestextent 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 4.1206, shall bear will accrue additional interest thereon at the Coupon Rate rate of [____]% per annum to but excluding the date of payment, compounded quarterly for each quarter of the such Extension Period ("Compounded Interest"). At the end of the each Extension Period, including as the same may be extended as provided above, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the Debentures, including any Additional Interest Notes and Compounded Interest (together, "Deferred Interest") that shall be payable to the holders of the Debentures Person in whose names name such Note, or any predecessor Note, is registered at the Debentures are registered in the Debenture Register close of business on the first record date after the end of the Extension Period. Before the termination of any Extension Period, the Company may further extend Record Date for such period, provided that such period together with all such further extensions thereof shall not exceed 20 consecutive quarters, or extend beyond the Maturity Date of the DebenturesInterest Payment 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 requirementsprovided that such Extension Period, together with all extensions thereof, may not extend beyond February 16, 2006. No interest shall be due and payable during an Extension Period, Period except at the end thereof, but except that prior to the Company end of such Extension Period, the Company, at its option, may prepay at on any time Interest Payment Date all or any portion of the interest Deferred Interest accrued during an the then elapsed portion of such Extension Period.

Appears in 1 contract

Samples: Supplemental Indenture (Teekay Shipping Corp)

Extension of Interest Payment Period. (a) So long as no Event of Default with respect to the Debentures has occurred and is continuing, the Company shall have the right, at any time and from time to time during the term of the Debentures, to defer payments of interest by extending the interest payment period of such Debentures for a period not exceeding 20 40 consecutive quarters (the "an “Extension Period"), during which Extension Period no interest shall be due and payable; provided except that no Extension Period may extend beyond the Maturity DateStated Maturity. InterestTo 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 4.1205, shall will bear interest thereon at the Coupon Rate an annual rate of 6.00% compounded quarterly for each quarter of the Extension Period ("Compounded “Compound Interest"). At the end of the Extension Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the Debentures, including any Additional Interest and Compounded Compound Interest (together, "Deferred Interest") that shall be payable to the holders of the Debentures Holders in whose names the Debentures are registered in the Debenture Security Register on the first record date for the first Interest Payment Date after the end of the Extension Period. Before the termination of any Extension Period, the Company may shorten or further extend such period, provided that such period together with all such further extensions thereof shall not exceed 20 40 consecutive quarters, or extend beyond the Stated Maturity Date or Redemption Date, if earlier, of the Debentures. 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. No interest shall be due and payable during an Extension Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period.

Appears in 1 contract

Samples: Dte Energy Co

Extension of Interest Payment Period. Notice of ----------------------------------------------- Extension. (a) So long as no Event of Default (or an event which would be an --------- Event of Default with the giving of required notice or the passage of time) has occurred and is continuing, the Company shall have the right, at any time and from time to time during the term of the DebenturesSecurities, from time to time to defer payments of interest by extending the interest payment period of such Debentures for a period successive periods not exceeding 20 10 consecutive quarters semi-annual periods for each such period (the an "Extension Extended Interest Payment Period"). To the extent permitted by applicable law, during which Extension Period no interest shall be due and payable; provided that no Extension Period may extend beyond the Maturity Date. Interestinterest, the payment of which has been deferred because of the extension of the interest payment period pursuant to this Section 4.13.12, shall will bear interest thereon at the Coupon Rate __% compounded quarterly semi-annually for each quarter semi-annual period of the Extension Extended Interest Payment Period ("Compounded Interest"). At the end of the Extension Extended Interest Payment Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest and Additional Payments then accrued and unpaid on the DebenturesSecurities, including any Additional Interest and Compounded Interest (together, "Deferred Interest") that shall be payable to the holders Holders of the Debentures Securities in whose names the Debentures Securities are registered in the Debenture Security Register on the first record date Regular Record Date after the end of the Extension Extended Interest Payment Period. Before the termination of any Extension Extended Interest Payment Period, the Company may further extend such period, so long as no Event of Default (or an event which would be an Event of Default with the giving of required notice or the passage of time) has occurred and is continuing provided that such period together with all such further extensions thereof shall not exceed 20 10 consecutive quarters, semi-annual periods or extend beyond the Maturity Date of the DebenturesSecurities. Upon the termination of any Extension Extended Interest Payment Period and upon the payment of all Deferred Interest interest and Additional Payments then due, the Company may commence a new Extension Extended Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extension Period, Extended Period except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period.

Appears in 1 contract

Samples: Nationwide Financial Services Capital Trust

Extension of Interest Payment Period. So long as no Event of Default has occurred and is continuing, the Company shall have the right, at any time and from time to time during the term of the Debentures, to defer payments of interest by extending the interest payment period of such Debentures for a period not exceeding 20 consecutive quarters (the "Extension Extended Interest Payment Period"), during which Extension Extended Interest Payment Period no interest shall be due and payable; provided that no Extension Extended Interest Payment Period may extend beyond the Maturity Date. InterestTo 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 4.1, shall bear interest thereon at the Coupon Rate compounded quarterly for each quarter of the Extension Extended Interest Payment Period ("Compounded Interest"). At the end of the Extension Extended Interest Payment Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the Debentures, including any Additional Interest and Compounded Interest (together, "Deferred Interest") that shall be payable to the holders of the Debentures in whose names the Debentures are registered in the Debenture Register on the first record date after the end of the Extension Extended Interest Payment Period. Before the termination of any Extension Extended Interest Payment Period, the Company may further extend such period, provided that such period together with all such further extensions thereof shall not exceed 20 consecutive quarters, or extend beyond the Maturity Date of the Debentures. Upon the termination of any Extension Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extension Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extension Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Extended Interest Payment Period.

Appears in 1 contract

Samples: Eagle Bancshares Inc

Extension of Interest Payment Period. So long as no Event of Default has occurred and is continuing, the (a) The Company --------------------------------------- shall have the right, at any time and from time to time during the term of the DebenturesSecurities, from time to time, to defer payments of interest by extending extend the interest payment period of such Debentures on the Securities for a period not exceeding up to 20 consecutive quarters with respect to each deferred period (the each, an "Extension Period"), ) during which Extension Period no periods the Company shall have the right to make partial payments of interest shall be due on any Interest Payment Date, and payable; provided that no Extension Period may extend beyond the Maturity Date. Interest, the payment of which has been deferred because of the extension of the interest payment period pursuant to this Section 4.1, shall bear interest thereon at the Coupon Rate compounded quarterly for each quarter of the Extension Period ("Compounded Interest"). At the end of such Extension Period the Company shall pay all interest then accrued and unpaid thereon (together with Additional Interest thereon, if any, at the annual rate of 7.45% to the extent permitted by applicable law), provided, however, that -------- ------- during any such Extension Period, the Company shall calculate not, and shall cause any Subsidiary not to, (and deliver such calculation i) declare or pay any dividends or distributions on, or - redeem, purchase, acquire or make a liquidation payment with respect to, any of the Company's capital stock, or (ii) make any payment of principal, interest or -- premium, if any, on or repay, repurchase or redeem any debt securities that rank pari passu with or junior in interest to the Trustee) and pay all interest accrued and unpaid on the Debentures, including Securities or make any Additional Interest and Compounded Interest (together, "Deferred Interest") that shall be payable guarantee ---- ----- payments with respect to the holders foregoing (other than (A) dividends or - distributions payable solely in common stock of the Debentures in whose names Company, (B) redemptions or - purchases of any rights pursuant to the Debentures are registered Company's Rights Plan, or any successor to such Rights Plan, and the declaration of a dividend of such rights in the Debenture Register on the first record date after the end of the Extension Periodfuture, and (C) payments under any Hartford Guarantee). Before Prior to the termination - of any such Extension Period, the Company may further extend such the interest payment period, provided that such period Extension Period together with all such -------- previous and further extensions thereof of such Extension Period shall not exceed 20 consecutive quarters, quarters or extend beyond the Maturity Date of the DebenturesSecurities. Upon the termination of any such Extension Period and upon the payment of all Deferred accrued and unpaid interest and any Additional Interest then due, the Company may commence select a new Extension Period, subject to the foregoing above requirements. No interest shall be due and payable during an Extension Period, except at the end thereof. The Company shall give the Holders of the Securities and the Property Trustee, the Administrative Trustees and the Trustee notice of its selection of such Extension Period at least one Business Day prior to the earlier of (i) the date - the Distributions on the Preferred Securities are payable or (ii) the date the -- Administrative Trustees are required to give notice to the New York Stock Exchange or other applicable self-regulatory organization or to holders of such Preferred Securities of the record date or the date such Distributions are payable, but the Company may prepay at in any time all or any portion event not less than one Business Day prior to such record date. The Trustee shall promptly give notice of the interest accrued during an Company's selection of such Extension PeriodPeriod to the holders of the outstanding Preferred Securities.

Appears in 1 contract

Samples: Hartford Financial Services Group Inc/De

Extension of Interest Payment Period. So long as no Event of Default has occurred and is continuing, the Company shall have the right, at any time and from time to time during the term of the Debentures, to defer payments of interest by extending the interest payment period of such Debentures for a period not exceeding 20 consecutive quarters (the "Extension Extended Interest Payment Period"), during which Extension Extended Interest Payment Period no interest shall be due and payable; provided that no Extension Extended Interest Payment Period may extend beyond the Maturity Date. Interest, the payment of which has been deferred because of the extension of the interest payment period pursuant to this Section 4.1Section, shall bear interest (to the extent permitted under applicable law) thereon at the Coupon Rate rate of ___% per annum, compounded quarterly for each quarter of during the Extension Extended Interest Payment Period (the "Compounded Interest"). At the end of the Extension Extended Interest Payment Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the Debentures, including any Additional Interest and Compounded Interest (together, "Deferred Interest") that shall be payable to the holders of the Debentures in whose names the Debentures are registered in the Debenture Register on the first record date after the end of the Extension Extended Interest Payment Period. Before the termination of any Extension Extended Interest Payment Period, the Company may further extend such period, provided that such period together with all such further extensions thereof shall not exceed 20 consecutive quarters, or extend beyond the Maturity Date of the Debentures. 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. No interest shall be due and payable during an Extension Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period.the

Appears in 1 contract

Samples: Southside Capital Trust I

Extension of Interest Payment Period. So long as no Event of Default has with respect to the Debentures under Section 2.9 of this First Supplemental Indenture shall have occurred and is be continuing, the Company shall have the right, right at any time and from time to time time, during the term of the Debentures, to defer payments of interest by extending the interest payment period of such Debentures for a period successive periods not exceeding 20 consecutive quarters for any such period (the each, an "Extension Period"), during which Extension Period no interest shall be due and payable; provided that no Extension Period may extend beyond the Maturity maturity of the Debentures or end on other than an Interest Payment Date. InterestTo 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 4.1, shall will bear interest thereon at the Coupon Rate compounded quarterly for each quarter of the Extension Period ("Compounded Compound Interest"). At the end of the Extension Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid interest on the Debentures, including including, to the extent permitted by law, any Additional Interest and Compounded Compound Interest (together, "Deferred Interest") ), to the Holders of record of the Debentures as they appear on the books and records of the Company at the close of business on the Regular Record Date for the Interest Payment Date upon which such Extension Period terminates; provided that any Additional Interest shall be payable to the holders of the Debentures in whose names the Debentures are registered in the Debenture Register on the first record date after the end of the Extension PeriodTrust rather than to such Holders. Before the termination of any Extension PeriodPeriod of less than 20 consecutive quarters, the Company may further extend such period, provided that such period together with all such previous and further extensions thereof shall not exceed 20 consecutive quarters, or extend beyond the Maturity Date maturity of the DebenturesDebentures and end other than on an Interest Payment 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. No interest shall be due and payable during an Extension Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period.

Appears in 1 contract

Samples: Bay View Capital I

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