Common use of Extension of Interest Payment Period Clause in Contracts

Extension of Interest Payment Period. The Company shall have the right, at any time and from time to time during the term of the Notes, to defer payments of interest by extending the interest payment period of such Notes for a period not exceeding 20 consecutive quarters (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity 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 2.13, will bear interest thereon at the rate of interest specified in the applicable Security compounded quarterly, for each quarter of the Extended Interest Payment Period ("Compounded Interest"). At the end of the Extended Interest Payment Period, the Company shall pay all interest accrued and unpaid on the Notes, including any Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, that shall be payable to the Holders of the Notes in whose names the Notes are registered in the Security Register on the first record date after the end of the Extended Interest Payment Period. Before the termination of any 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 Notes. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 2 contracts

Samples: Indenture (Nb Capital Trust I), Indenture (Nb Capital Trust I)

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Extension of Interest Payment Period. The With the exception of Pre-Issuance Interest, so long as the Company shall not be in default in the payment of interest on the Debentures, the Company shall have the right, at any time and from time to time during the term of the NotesDebentures, to defer payments of interest by extending the interest payment period of such Notes Debentures for a period not exceeding 20 consecutive quarters (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity DateStated Maturity. To the extent permitted by applicable law, interest, the payment of which has been deferred because of the extension of the interest payment period pursuant to this Section 2.134.1, will bear interest thereon at the rate of interest specified in the applicable Security Coupon Rate compounded quarterly, quarterly for each quarter of the Extended Interest Payment Period ("Compounded Compound Interest"). At the end of the Extended Interest Payment Period, the Company shall pay all interest accrued and unpaid on the NotesDebentures, including any Compounded Additional Interest and Compound Interest (together, "Deferred Interest"), together with all other amounts due thereon, ) that shall be payable to the Holders of the Notes in whose names the Notes Debentures are registered in the Security Register on the first record date after the end of the Extended Interest Payment Period. Before the termination of any 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 Stated Maturity of the NotesDebentures. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 2 contracts

Samples: Indenture (Fleet Capital Trust I), Indenture (Fleet Financial Group Inc)

Extension of Interest Payment Period. The So long as an Event of Default under Section 6.01 of the Base Indenture shall not have occurred and 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 NotesDebentures, to defer payments of interest by extending the interest payment period of such Notes Debentures for a period not exceeding 20 consecutive quarters quarterly periods (the "Extended Interest Payment Extension Period"), during which Extended Interest Payment Extension Period no interest shall be due and payable; provided that no Extended Extension Period shall end on a date other than an Interest Payment Period may Date or extend beyond the Stated Maturity Dateor any earlier redemption 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 2.134.01, will bear interest thereon at the rate of interest specified in the applicable Security Coupon Rate compounded quarterly, for each quarter of the Extended Interest Payment Period semiannually ("Compounded Interest"). At the end of the Extended Interest Payment Extension Period, the Company shall pay all interest accrued and unpaid on the NotesDebentures, including any Additional Sums, Additional Interest and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, that shall be payable ) to the Holders holders of the Notes Debentures in whose names the Notes Debentures are registered in the Security Register on the first record date after preceding the end of the Extended Interest Payment Extension Period. Before the termination of any Extended Interest Payment 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 quartersquarterly periods, or extend beyond the maturity date of the NotesStated Maturity or any earlier redemption date. Upon the termination of any Extended Interest Payment Extension Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Extension Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment 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 Extended Interest Payment Extension Period.

Appears in 2 contracts

Samples: Indenture (Bear Stearns Companies Inc), Bear Stearns Companies Inc

Extension of Interest Payment Period. The Provided that 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 NotesDebentures, to defer payments of interest by extending the interest payment period of such Notes Debentures for a period not exceeding 20 60 consecutive quarters months (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Stated Maturity Dateof the principal of the Debentures. To the extent permitted by applicable law, interest, the payment of which has been deferred because of the extension of the interest payment period pursuant to this Section 2.134.1, will bear interest thereon at the rate of interest specified in the applicable Security Coupon Rate compounded quarterly, monthly for each quarter month of the Extended Interest Payment Period ("Compounded Compound Interest"). At the end of the Extended Interest Payment Period, the Company shall pay all interest accrued and unpaid on the NotesDebentures, including any Compounded Compound Interest (together, "Deferred Interest"), together with all other amounts due thereon, ) that shall be payable to the Holders of the Notes in whose names the Notes Debentures are registered in the Security Register on the first record date for the first Interest Payment Date after the end of the Extended Interest Payment Period. Before the termination of any Extended Interest Payment Period, the Company may further extend such period, provided that such period together with all such previous or further extensions thereof shall not exceed 20 60 consecutive quartersmonths, or extend beyond the maturity date Stated Maturity of the NotesDebentures. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 2 contracts

Samples: Popular Inc, Popular Inc

Extension of Interest Payment Period. The Company shall have the right, at any time and from time to time during the term of the NotesDebentures, to defer payments of interest by extending the interest payment period of such Notes Debentures for a period not exceeding 20 10 consecutive quarters semi-annual interest payment periods (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity 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 2.134.1, will bear interest thereon at the rate of interest specified in the applicable Security Coupon Rate compounded quarterly, quarterly for each quarter semi-annual interest payment period of the Extended Interest Payment Period ("Compounded Interest"). At the end of the Extended Interest Payment Period, the Company shall pay all interest accrued and unpaid on the NotesDebentures, including any Additional Interest and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, ) that shall be payable to the Holders holders of the Notes Debentures in whose names the Notes Debentures are registered in the Security Register on the first record date after the end of the Extended Interest Payment Period. Before the termination of any 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, semi-annual interest payment periods or extend beyond the maturity date of the NotesDebentures. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 2 contracts

Samples: First Supplemental Indenture (Arvin Capital I), Arvin Industries Inc

Extension of Interest Payment Period. The 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 NotesDebentures, to defer payments of interest by extending the interest payment period of such Notes Debentures for a period not exceeding 20 60 consecutive quarters monthly periods (the an "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity 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 2.135.1, will bear interest thereon at the rate of interest specified in the applicable Security Interest Rate compounded quarterly, monthly for each quarter monthly period of the Extended Interest Payment Period ("Compounded Deferred Interest"). At the end of the Extended Interest Payment Period, the Company shall pay all interest accrued and unpaid on the NotesDebentures, including any Compounded Deferred Interest (together, "Deferred Interest"), together with all other amounts due thereon, that shall be payable to the Holders holders of the Notes Debentures in whose names the Notes Debentures are registered in the Security Register on the first record date with respect to the first Interest Payment Date after the end of the Extended Interest Payment Period. Before the termination of any 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 60 consecutive quartersmonthly periods, or extend beyond the maturity date Maturity Date of the NotesDebentures. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 2 contracts

Samples: First Supplemental Indenture (Interpool Inc), First Supplemental Indenture (Interpool Inc)

Extension of Interest Payment Period. The 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 NotesDebentures, to defer payments of interest by extending extend the interest payment period of such Notes Debentures for a period not exceeding 20 up to ten (10) consecutive quarters semi-annual periods (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity 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 2.134.1, will bear interest thereon compounded semi-annually at the rate of interest specified in the applicable Security compounded quarterly, Coupon Rate for each quarter semi-annual period of the Extended Interest Payment Period ("Compounded Interest"). At the end of the Extended Interest Payment Period, the Company shall pay all interest accrued and unpaid on the NotesDebentures, including any Compounded Interest and Additional Interest (together, "Deferred Interest"), together with all other amounts due thereon, that ) which shall be payable to the Holders holders of the Notes Debentures in whose names the Notes Debentures are registered in the Security Register on the first record date after immediately preceding the end of the Extended Interest Payment Period. Before the termination of any 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 ten (10) consecutive quarters, semi-annual periods or extend beyond the maturity date Maturity Date of the NotesDebentures. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence select a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay pay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 1 contract

Samples: Comed Financing Ii

Extension of Interest Payment Period. The 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 NotesSecurities, to defer payments of interest by extending the interest payment period of such Notes Securities for a period not exceeding 20 consecutive quarters to extend beyond the Maturity Date (the an "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity shall end on a date other than an Interest Payment 66 75 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 2.1316.01, will bear interest thereon at the rate of interest specified in the applicable Security Coupon Rate compounded quarterly, quarterly for each quarter quarterly period of the Extended Interest Payment Period ("Compounded Interest"). At the end of the Extended Interest Payment Period, the Company shall pay all interest accrued and unpaid on the NotesSecurities, including any Additional Sums and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, ) that shall be payable to the Holders holders of the Notes Securities in whose names the Notes Securities are registered in the Security Register on the first record date after preceding the end of the Extended Interest Payment Period. Before the termination of any Extended Interest Payment Period, the Company may further extend defer payments of interest by further extending 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 NotesMaturity Date. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 1 contract

Samples: Indenture (Life Re Capital Trust Ii)

Extension of Interest Payment Period. The Provided that 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 NotesDebentures, to defer payments of interest by extending the interest payment period of such Notes Debentures for a period not exceeding 20 60 consecutive quarters months (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Stated Maturity Dateof the principal of the Debentures. To the extent permitted by applicable law, interest, the payment of which has been deferred because of the extension of the interest payment period pursuant to this Section 2.134.1, will bear interest thereon at the rate of interest specified in the applicable Security Coupon Rate compounded quarterly, semiannually for each quarter semiannual period of the Extended Interest Payment Period ("Compounded Compound Interest"). At the end of the Extended Interest Payment Period, the Company shall pay all interest accrued and unpaid on the NotesDebentures, including any Compounded Compound Interest (together, "Deferred Interest"), together with all other amounts due thereon, ) that shall be payable to the Holders of the Notes in whose names the Notes Debentures are registered in the Security Register on the first record date for the first Interest Payment Date after the end of the Extended Interest Payment Period. Before the termination of any Extended Interest Payment Period, the Company may further extend such period, provided that such period together with all such previous or further extensions thereof shall not exceed 20 60 consecutive quartersmonths, or extend beyond the maturity date Stated Maturity of the NotesDebentures. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 1 contract

Samples: Registration Rights Agreement (Santander Bancorp)

Extension of Interest Payment Period. The Company shall have the right, at any time and from time to time during the term of the NotesDebentures 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 Notes Debentures for a period not exceeding 20 consecutive quarters (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity Date or end on a date other than 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 2.134.1, will shall bear interest thereon at the rate of interest specified in the applicable Security Coupon Rate compounded quarterly, quarterly for each quarter of the Extended Interest Payment Period ("Compounded Interest"). At the end of the Extended Interest Payment Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the NotesDebentures, including any Additional Interest and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, ) that shall be payable to the Holders holders of the Notes Debentures in whose names the Notes Debentures are registered in the Security Debenture Register on the first record date after the end of the Extended Interest Payment Period. Before the termination of any Extended Interest Payment 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 Maturity Date of the Notes. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence Debentures or end on a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during date other than an 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 Extended Interest Payment Period.Interest

Appears in 1 contract

Samples: Second Bancorp Inc

Extension of Interest Payment Period. The 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 NotesDebentures, to defer payments of interest by extending the interest payment period of such Notes Debentures for a period not exceeding 20 consecutive quarters (the each such period an "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity 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 2.134.1, will bear interest thereon at the rate of interest specified in the applicable Security Coupon Rate compounded quarterly, quarterly for each quarter of the Extended Interest Payment Period ("Compounded Interest"). At the end of the Extended Interest Payment Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the NotesDebentures, including any Additional Interest and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, ) that shall be payable to the Holders of the Notes Debentures in whose names the Notes Debentures are registered in the Security Register on the first record date after the end of the Extended Interest Payment Period. Before the termination of any 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 Maturity Date of the NotesDebentures. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 1 contract

Samples: Pikeville National Corp

Extension of Interest Payment Period. The Subject to Section 3.13 of the Indenture, the Company shall have the right, at any time and from time to time during the term of the NotesDebentures, to defer payments of interest by extending the interest payment period of such Notes Debentures for a period not exceeding 20 10 consecutive quarters semiannual periods (the an "Extended Interest Payment Extension Period"), during which Extended Interest Payment Extension Period no interest shall be due and payable; provided that no Extended Extension Period may end on a date other than an -------- Interest Payment Period may Date or extend beyond the Maturity 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 2.134.1, will bear interest thereon at the rate of interest specified in the applicable Security Interest Rate compounded quarterly, semiannually for each quarter semiannual period of the Extended Interest Payment Extension Period ("Compounded Interest"). At the ------------------- end of the Extended Interest Payment Extension Period, the Company shall pay all interest accrued and unpaid on the NotesDebentures, including any Additional Sums and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, ) that shall be payable to the Holders of the Notes ----------------- Debentures in whose names the Notes Debentures are registered in the Security Register on the first record date after relating to the end of the Extended Interest Payment PeriodDate on which the Extension Period ends. Before the termination of any Extended Interest Payment 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 10 consecutive quarterssemiannual periods, or extend beyond the maturity date Maturity Date of the NotesDebentures. Upon the termination of any Extended Interest Payment Extension Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Extension Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment 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 Extended Interest Payment Period.

Appears in 1 contract

Samples: Fifth Supplemental Indenture (Bank One Capital Iii)

Extension of Interest Payment Period. The 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 NotesSecurities, to defer payments of interest by extending the interest payment period of such Notes Securities for a period not exceeding 20 consecutive quarters quarters, including the first such quarter during such extension period (the "Extended Interest Payment Extension Period"), during which Extended Interest Payment Extension Period no interest shall be due and payable; provided that no Extended Extension Period shall end on a date other than an Interest Payment Period may Date or extend beyond the Maturity 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 2.1316.1, will bear interest thereon at the rate of interest specified in the applicable Security Coupon Rate compounded quarterly, to the extent permitted by applicable law, for each quarter of the Extended Interest Payment Extension Period ("Compounded Interest"). At the end of the Extended Interest Payment Extension Period, the Company shall pay all interest accrued and unpaid on the NotesSecurities, including any Additional Interest and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, ) that shall be payable to the Holders holders of the Notes Securities in whose names the Notes Securities are registered in the Security Register on the first record date after preceding the end of the Extended Interest Payment Extension Period. Before the termination of any Extended Interest Payment 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 NotesMaturity Date. Upon the termination of any Extended Interest Payment Extension Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Extension Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment 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 Extended Interest Payment Extension Period.

Appears in 1 contract

Samples: Indenture (New York Bancorp Capital Trust)

Extension of Interest Payment Period. SECTION 4.1 ----------- The Company shall have the right, subject to the conditions set forth herein, to defer payments of interest on the Debentures of a series by extending the interest payment period on the Debentures of a series at any time and from time to time during the term of the NotesDebentures, for up to defer payments of interest by extending the 20 consecutive quarterly periods (each such extended interest payment period of such Notes for a period not exceeding 20 consecutive quarters (the period, an "Extended Interest Payment Extension Period"), during which Extended Interest Payment Extension Period no interest shall be due and payable; provided that (i) no Extended Interest Payment Extension Period may extend beyond the Maturity Date. To Date and (ii) no Extension Period may commence or be extended so long as the extent permitted by applicable law, interest, Company is in default in the payment of which any interest upon any Debentures of such series or has been deferred because of the extension of the interest payment period pursuant to this Section 2.13, will bear interest thereon at the rate of interest specified in the applicable Security compounded quarterly, for each quarter of the Extended not paid all Deferred Interest Payment Period ("Compounded Interest")from a prior completed Extension Period. At the end termination of an Extension Period for the Extended Debentures of a series or, if not an Interest Payment PeriodDate, on the Interest Payment Date immediately following termination of such Extension Period for the Debentures of such series, the Company shall pay all interest then accrued and unpaid on the NotesDebentures, including together with interest thereon at a variable annual rate equal to LIBOR plus 0.85%, compounded quarterly (to the extent permitted by applicable law) ("Compounded Interest") and any Compounded Additional Interest (togethertogether with Compounded Interest, "Deferred Interest"), together with all other amounts due thereon, that which Deferred Interest shall be payable to the Holders holders of the Notes Debentures of such series in whose names the Notes Debentures are registered in the Debt Security Register on the first record date after for the end payment of the Extended interest on such Interest Payment PeriodDate. Before the termination of any Extended Interest Payment Extension Period, the Company may further extend such period, provided that such period together with all such previous and further consecutive extensions thereof shall not exceed 20 consecutive quartersquarterly periods, or extend beyond the maturity date of the NotesMaturity Date. Upon the termination of any Extended Interest Payment Extension Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Extension Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 1 contract

Samples: First Supplemental Indenture (Mercantile Capital Trust I)

Extension of Interest Payment Period. The 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 NotesSecurities, to defer payments of interest by extending the interest payment period of such Notes Securities for a period not exceeding 20 consecutive quarters quarterly periods, including the first such quarterly period during such extension period (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity 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 2.1316.01, will bear interest thereon at the rate of interest specified Interest Rate then in the applicable Security effect compounded quarterly, quarterly for each quarter quarterly period of the Extended Interest Payment Period ("Compounded Interest"). At the end of the Extended Interest Payment Period, the Company shall pay all interest accrued and unpaid on the NotesSecurities, including any Additional Interest and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, ) that shall be payable to the Holders holders of the Notes Securities in whose names the Notes Securities are registered in the Security Register on the first record date after the end of the Extended Interest Payment Period. Before the termination of any Extended Interest Payment 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 Extended Interest Payment Period, shall not exceed 20 consecutive quartersquarterly periods, including the first such quarterly period during such Extended Interest Payment Period, or extend beyond the maturity date Maturity Date of the NotesSecurities. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period. Compounded Interest shall be treated as interest for all purposes under this Indenture.

Appears in 1 contract

Samples: Bankboston Capital Trust Iii

Extension of Interest Payment Period. The 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 NotesDebentures, to defer payments of interest on the Debentures by extending the interest payment period of such Notes Debentures for a period not exceeding 20 consecutive quarters quarterly periods (the "Extended Interest Payment Extension Period"), during which Extended Interest Payment Extension Period no interest shall be due and payable; provided that no Extended Extension Period shall end on a date other than an Interest Payment Period may Date or extend beyond the Maturity 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 2.134.1, will bear interest thereon at the interest rate of interest specified then in the applicable Security effect compounded quarterly, quarterly for each quarter quarterly period of the Extended Interest Payment Extension Period ("Compounded Interest"). At the end of the Extended Interest Payment Extension Period, the Company shall pay all interest accrued and unpaid on the NotesDebentures, including any Additional Sumsand Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, ) that shall be payable to the Holders of the Notes in whose names the Notes Debentures are registered in the Security Register on the first record date after relating to the end of the Extended Interest Payment PeriodDate on which the Extension Period ends. Before the termination of any Extended Interest Payment 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, quarterly periods or extend beyond the maturity date Maturity Date of the NotesDebentures. Upon the termination of any Extended Interest Payment Extension Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Extension Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Extension Period, except at the end thereof, but . Compounded Interest shall be treated as interest for all purposes under the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment PeriodIndenture.

Appears in 1 contract

Samples: Supplemental Indenture (Suntrust Capital Iv)

Extension of Interest Payment Period. The Subject to Section 3.13 of the Indenture, the Company shall have the right, at any time and from time to time during the term of the NotesDebentures, to defer payments of interest by extending the interest payment period of such Notes Debentures for a period an Extension Period not exceeding 20 consecutive quarters (the "Extended Interest Payment Period")quarters, during which Extended Interest Payment Extension Period no interest shall be due and payable; provided that no Extended -------- ---- Extension Period may end on a date other than an Interest Payment Period may Date or extend beyond the Maturity 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 2.134.1, will bear interest thereon at the rate of interest specified in the applicable Security Coupon Rate compounded quarterly, quarterly for each quarter of the Extended Interest Payment Extension Period ("Compounded Interest"). At the end of the Extended Interest Payment Extension Period, the Company shall pay all interest accrued and unpaid on the NotesDebentures, including any Additional Sums and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, ) that shall be payable to the Holders of the Notes Debentures in whose names the Notes Debentures are registered in the Security Register on the first record date after relating to the end of the Extended Interest Payment PeriodDate in which the Extension Period ends. Before the termination of any Extended Interest Payment 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 Maturity Date of the NotesDebentures. Upon the termination of any Extended Interest Payment Extension Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Extension Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment 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 Extended Interest Payment Period.

Appears in 1 contract

Samples: First Chicago NBD Capital Iv

Extension of Interest Payment Period. The Company shall have the right, at any time and from time to time during the term of the NotesConvertible Debentures, to defer payments of interest by extending the interest payment period of such Notes Convertible Debentures for a period not exceeding 20 consecutive quarters (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity 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 2.134.1, will bear interest thereon at the rate of interest specified in the applicable Security Coupon Rate compounded quarterly, quarterly for each quarter of the Extended Interest Payment Period ("Compounded Interest"). At the end of the Extended Interest Payment Period, the Company shall pay all interest accrued and unpaid on the NotesConvertible Debentures, including any Additional Interest and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, ) that shall be payable to the Holders of the Notes Convertible Debentures in whose names the Notes Convertible Debentures are registered in the Security Register on the first record date after the end of the Extended Interest Payment Period. Before the termination of any 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 NotesConvertible Debentures. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 1 contract

Samples: Kmart Corp

Extension of Interest Payment Period. The Company shall have the right, at any time and from time to time during the term of the Notes, to defer payments of interest by extending the interest payment period of such Notes for a period not exceeding 20 [10] consecutive quarters quarterly [semi-annual] periods (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity 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 2.134.1, will bear interest thereon at the rate of interest specified in the applicable Security Coupon Rate compounded quarterly, quarterly [semi-annually] for each quarter quarterly [semi-annual] period of the Extended Interest Payment Period ("Compounded Interest"). At the end of the Extended Interest Payment Period, the Company shall pay all interest accrued and unpaid on the Notes, including any Additional Interest and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, ”) that shall be payable to the Holders of the Notes in whose names the Notes are registered in the Security Register on the first record date after the end of the Extended Interest Payment Period. Before the termination of any Extended Interest Payment 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 [10] consecutive quartersquarterly [semi-annual] periods, or extend beyond the maturity date Maturity Date of the Notes. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 1 contract

Samples: Bac Capital Trust Xii

Extension of Interest Payment Period. The So long no Event of Default under Section 6.01 of the Base Indenture has occurred and is 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 NotesJunior Subordinated Debentures, from time to time to defer payments the payment of interest by extending the interest payment period of such Notes Junior Subordinated Debentures for a period not exceeding 20 10 consecutive quarters semi-annual periods (the an "Extended Interest Payment Extension --------- Period"), during which Extended Extension Period the Company shall have the right to make partial payments of interest on any Interest Payment Date. No Extension Period no interest shall be due and payable; provided that no Extended end on a date other than an Interest Payment Period may Date or extend beyond the Stated Maturity Dateor any earlier prepayment 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 an Extension Period imposed pursuant to this Section 2.134.01, will bear interest thereon at the rate of interest specified in the applicable Security Additional Interest compounded quarterly, for each quarter of the Extended Interest Payment Period ("Compounded Interest")semi-annually. At the end of the Extended Interest Payment Extension Period, the Company shall pay all interest then accrued and unpaid on the NotesJunior Subordinated Debentures, including any Compounded Additional Interest, Special Interest (togetherand Additional Tax Sums, "Deferred Interest")if applicable, together with all other amounts due thereon, that shall be payable to the Holders holders of the Notes Junior Subordinated Debentures in whose names the Notes Junior Subordinated Debentures are registered in the Security Register on the first record date after Record Date preceding the end of the Extended Interest Payment Extension Period. Before the termination of any Extended Interest Payment Extension Period, the Company may further extend such periodExtension 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 maturity date of the NotesStated Maturity or any earlier prepayment date. Upon At any time following the termination of any Extended Interest Payment Extension Period and upon the payment of all Deferred any accrued and unpaid Additional Interest and Special Interest then due, the Company may commence elect to begin a new Extended Interest Payment Extension Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment 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 Extended Interest Payment Period.

Appears in 1 contract

Samples: Purchase Agreement (Aon Corp)

Extension of Interest Payment Period. The Company shall have the right, at any time and from time to time during the term of the NotesDebentures, to defer payments of interest by extending the interest payment period of such Notes Debentures for a period not exceeding 20 consecutive quarters (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided -------- that no Extended Interest Payment Period may extend beyond the Maturity 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 2.134.1, will bear interest thereon at the rate of interest specified in the applicable Security Coupon Rate compounded quarterly, quarterly for each quarter of the Extended Interest Payment Period ("Compounded Interest"). At On the next Interest Payment Date following the end of the Extended Interest Payment Period, the Company shall pay all interest accrued and unpaid on the NotesDebentures, including any Additional Interest and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, that shall be payable to the Holders holders of the Notes Debentures in whose names the Notes Debentures are registered in the Security Register on the first record date after for the payment of Deferred Interest on the next Interest Payment Date following the end of the Extended Interest Payment Period. Before the termination of any 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 NotesMaturity Date. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the The Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 1 contract

Samples: Indenture (Countrywide Capital Ii)

Extension of Interest Payment Period. The Subject to Section 3.13 of the Indenture, the Company shall have the right, at any time and from time to time during the term of the NotesDebentures, to defer payments of interest by extending the interest payment period of such Notes Debentures for a period an Extension Period not exceeding 20 consecutive quarters (the "Extended Interest Payment Period")quarters, during which Extended Interest Payment Extension Period no interest shall be due and payable; provided that no Extended Extension Period may end on a date -------- ---- other than an Interest Payment Period may Date or extend beyond the Maturity 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 2.134.1, will bear interest thereon at the rate of interest specified in the applicable Security Interest Rate compounded quarterly, quarterly for each quarter of the Extended Interest Payment Extension Period ("Compounded Interest"). At ------------------- the end of the Extended Interest Payment Extension Period, the Company shall pay all interest accrued and unpaid on the NotesDebentures, including any Additional Sums and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, ) that shall be payable to the Holders of the Notes ----------------- Debentures in whose names the Notes Debentures are registered in the Security Register on the first record date after relating to the end of the Extended Interest Payment PeriodDate on which the Extension Period ends. Before the termination of any Extended Interest Payment 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 Maturity Date of the NotesDebentures. Upon the termination of any Extended Interest Payment Extension Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Extension Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment 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 Extended Interest Payment Period.

Appears in 1 contract

Samples: Bank One Corp

Extension of Interest Payment Period. The 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 NotesDebentures, to defer payments of interest by extending the interest payment period of such Notes Debentures for a period not exceeding 20 consecutive quarters (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity Date. To the extent permitted by applicable lawInterest, interest, the payment of which has been deferred because of the extension of the interest payment period pursuant to this Section 2.134.1, will shall bear interest thereon at the rate of interest specified in the applicable Security ____% per annum, compounded quarterly, for each quarter of quarterly during the Extended Interest Payment Period (the "Compounded Interest"''). At the end of the Extended Interest Payment Period, the Company shall calculate (and deliver such calculation to the Trustee, certified by an officer of the Company) and pay all interest accrued and unpaid on the NotesDebentures, including any Additional Interest and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, ) that shall be payable to the Holders holders of the Notes Debentures in whose names the Notes Debentures are registered in the Security Debenture Register on the first record date after the end of the Extended Interest Payment Period. Before the termination of any 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 Maturity Date of the NotesDebentures. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 1 contract

Samples: Fidelity Capital Trust I

Extension of Interest Payment Period. The 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 NotesDebentures, to defer payments of interest by extending the interest payment period of such Notes Debentures for a period not exceeding 20 twenty (20) consecutive quarters (the "Extended Interest Payment Extension Period"), during which Extended Interest Payment Extension Period no interest shall be due and payable; provided that no Extended Interest Payment Extension Period may extend beyond the Maturity Date or end on a date other than 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 2.134.1, will shall bear interest thereon at the rate of interest specified in the applicable Security Coupon Rate compounded quarterly, quarterly for each quarter of the Extended Interest Payment Extension Period ("Compounded Interest"). At the end of the Extended Interest Payment Extension Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the NotesDebentures, including any Additional Payments and Compounded Interest (together, "Deferred InterestPayments"), together with all other amounts due thereon, ) that shall be payable to the Holders holders of the Notes Debentures in whose names the Notes Debentures are registered in the Security Debenture Register on the first record date after the end of the Extended Interest Payment Extension Period. Before the termination of any Extended Interest Payment 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 twenty (20) consecutive quarters, or extend beyond the maturity date Maturity Date of the NotesDebentures or end on a date other than an Interest Payment Date. Upon the termination of any Extended Interest Payment Extension Period and upon the payment of all Deferred Interest Payments then due, the Company may commence a new Extended Interest Payment Extension Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment 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 Extended Interest Payment Extension Period.

Appears in 1 contract

Samples: Ctbi Preferred Capital Trust Ii

Extension of Interest Payment Period. The Company shall have the right, at any time and from time to time during the term of the Notes, to defer payments of interest by extending the interest payment period of such Notes for a period selected by the Company not exceeding 20 consecutive quarters (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity 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 2.134.1, will bear accrue additional interest thereon at the rate of interest specified in the applicable Security Coupon Rate or Rates compounded quarterly, quarterly for each quarter of the Extended Interest Payment Period ("Compounded Interest"). At the end of the Extended Interest Payment Period, the Company shall pay all interest accrued and unpaid on the Notes, including any Additional Interest and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, ) that shall be payable to the Holders of the Notes in whose names the Notes are registered in the Security Register on the first record date after the end of the Extended Interest Payment Period. Before the termination of any Extended Interest Payment 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 Maturity Date of the Notes. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.. 10

Appears in 1 contract

Samples: Fifteenth Supplemental Indenture (Bank of America Corp /De/)

Extension of Interest Payment Period. 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 NotesSenior Deferrable Notes has occurred and is continuing, to defer payments of interest by extending the interest payment period of such Senior Deferrable Notes for a period not exceeding 20 consecutive quarters extending beyond the Maturity Date (the an "Extended Interest Payment Extension Period"), during which Extended Interest Payment Extension Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity 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 2.13208, will bear interest thereon accrue at the rate of interest specified in 9.5% per annum to but excluding February 16, 2005, and at the Reset Rate (which shall not be lower than 6.9% per annum nor higher than the maximum rate permitted by applicable Security law) thereafter, compounded quarterly, quarterly for each quarter of the Extended Interest Payment such Extension Period ("Compounded Interest"). At the end of the Extended Interest Payment such Extension Period, the Company shall pay all interest accrued and unpaid on the Notes, including any Senior Deferrable Notes and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, ) that shall be payable to the Holders of the Senior Deferrable Notes in whose names the Senior Deferrable Notes are registered in the Security Register on the first record date Regular Record Date after the end of the Extended Interest Payment Extension Period. Before Prior to the termination expiration of any Extended Interest Payment 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 NotesMaturity Date. Upon the termination of any Extended Interest Payment Extension Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment 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 Extended Interest Payment Period, Extension 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 Extended Interest Payment Extension Period.

Appears in 1 contract

Samples: Cinergy Corp

Extension of Interest Payment Period. The 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 NotesDebentures, to defer payments of interest by extending the interest payment period of such Notes Debentures for a period not exceeding 20 twenty (20) consecutive quarters (the "Extended Interest Payment “Extension Period"), during which Extended Interest Payment Extension Period no interest shall be due and payable; provided that no Extended Interest Payment Extension Period may extend beyond the Maturity Date or end on a date other than 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 2.134.1, will shall bear interest thereon at the rate of interest specified in the applicable Security Coupon Rate compounded quarterly, quarterly for each quarter of the Extended Interest Payment Extension Period ("Compounded Interest"). At the end of the Extended Interest Payment Extension Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the NotesDebentures, including any Additional Payments and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, Payments”) that shall be payable to the Holders holders of the Notes Debentures in whose names the Notes Debentures are registered in the Security Debenture Register on the first record date after the end of the Extended Interest Payment Extension Period. Before the termination of any Extended Interest Payment 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 twenty (20) consecutive quarters, or extend beyond the maturity date Maturity Date of the NotesDebentures or end on a date other than an Interest Payment Date. Upon the termination of any Extended Interest Payment Extension Period and upon the payment of all Deferred Interest Payments then due, the Company may commence a new Extended Interest Payment Extension Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment 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 Extended Interest Payment Extension Period.

Appears in 1 contract

Samples: S.Y. Bancorp Capital Trust II

Extension of Interest Payment Period. The 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 NotesDebentures, to defer payments of interest by extending the interest payment period of such Notes Debentures for a period not exceeding 20 consecutive quarters (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity Date. To the extent permitted by applicable lawInterest, interest, the payment of which has been deferred because of the extension of the interest payment period pursuant to this Section 2.134.1, will shall bear interest thereon at the rate of interest specified in the applicable Security ____% per annum, compounded quarterly, for each quarter of quarterly during the Extended Interest Payment Period (the "Compounded Interest"''). At the end of the Extended Interest Payment Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the NotesDebentures, including any Additional Interest and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, ) that shall be payable to the Holders holders of the Notes Debentures in whose names the Notes Debentures are registered in the Security Debenture Register on the first record date after the end of the Extended Interest Payment Period. Before the termination of any 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 Maturity Date of the NotesDebentures. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 1 contract

Samples: Indenture Indenture (Pennfirst Capital Trust I)

Extension of Interest Payment Period. The 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 NotesDebentures, to defer payments of interest by extending the interest payment period of such Notes Debentures for a period not exceeding 20 twenty (20) consecutive quarters (the "Extended Interest Payment Extension Period"), during which Extended Interest Payment Extension Period no interest shall be due and payable; provided that no Extended Interest Payment Extension Period may extend beyond the Maturity Date or end on a date other than 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 2.134.1, will shall bear interest thereon at the rate of interest specified in the applicable Security Coupon Rate compounded quarterly, quarterly for each quarter of the Extended Interest Payment Extension Period ("Compounded Interest"). At the end of the Extended Interest Payment Extension Period, the Company shall promptly calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the NotesDebentures, including any Additional Payments and Compounded Interest (together, "Deferred InterestPayments"), together with all other amounts due thereon, ) that shall be payable to the Holders holders of the Notes Debentures in whose names the Notes Debentures are registered in the Security Debenture Register on the first record date after immediately preceding the end of the Extended Interest Payment Extension Period. Before the termination of any Extended Interest Payment 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 twenty (20) consecutive quarters, or extend beyond the maturity date Maturity Date of the NotesDebentures or end on a date other than an Interest Payment Date. Upon the termination of any Extended Interest Payment Extension Period and upon the payment of all Deferred Interest Payments then due, the Company may commence a new Extended Interest Payment Extension Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment 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 Extended Interest Payment Extension Period.

Appears in 1 contract

Samples: Indenture (NPB Capital Trust Ii)

Extension of Interest Payment Period. The 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 NotesDebentures, to defer payments of interest by extending the interest payment period of such Notes Debentures for a period not exceeding 20 consecutive quarters (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity Date. To the extent permitted by applicable law, interestInterest, the payment of which has been deferred because of the extension of the interest payment period pursuant to this Section 2.134.1, will shall bear interest thereon at the rate of interest specified in the applicable Security ____% per annum, compounded quarterly, for each quarter of quarterly during the Extended Interest Payment Period (the "Compounded Interest"). At the end of the Extended Interest Payment Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the NotesDebentures, including any Additional Interest and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, ) that shall be payable to the Holders holders of the Notes Debentures in whose names the Notes Debentures are registered in the Security Debenture Register on the first record date after the end of the Extended Interest Payment Period. Before the termination of any 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 Maturity Date of the NotesDebentures. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 1 contract

Samples: Bankunited Capital Iii

Extension of Interest Payment Period. SECTION 4.1 ----------- The Company shall have the right, subject to the conditions set forth herein, to defer payments of interest on the Debentures of a series by extending the interest payment period on the Debentures of a series at any time and from time to time during the term of the NotesDebentures, for up to defer payments of interest by extending the 20 consecutive quarterly periods (each such extended interest payment period of such Notes for a period not exceeding 20 consecutive quarters (the period, an "Extended Interest Payment Extension Period"), during which Extended Interest Payment Extension Period no interest shall be due and payable; provided that -------- ---- (i) no Extended Interest Payment Extension Period may extend beyond the Maturity Date. To Date and (ii) no Extension Period may commence or be extended so long as the extent permitted by applicable law, interest, Company is in default in the payment of which any interest upon any Debentures of such series or has been deferred because of the extension of the interest payment period pursuant to this Section 2.13, will bear interest thereon at the rate of interest specified in the applicable Security compounded quarterly, for each quarter of the Extended not paid all Deferred Interest Payment Period ("Compounded Interest")from a prior completed Extension Period. At the end termination of an Extension Period for the Extended Debentures of a series or, if not an Interest Payment PeriodDate, on the Interest Payment Date immediately following termination of such Extension Period for the Debentures of such series, the Company shall pay all interest then accrued and unpaid on the NotesDebentures, including together with interest thereon at a variable annual rate equal to LIBOR plus 0.85%, compounded quarterly (to the extent permitted by applicable law) ("Compounded Interest") and any Compounded Additional Interest (togethertogether with Compounded Interest, "Deferred Interest"), together with all other amounts due thereon, that which Deferred Interest shall be payable to the Holders holders of the Notes Debentures of such series in whose names the Notes Debentures are registered in the Debt Security Register on the first record date after for the end payment of the Extended interest on such Interest Payment PeriodDate. Before the termination of any Extended Interest Payment Extension Period, the Company may further extend such period, provided that such period together with all such previous and further consecutive extensions thereof shall not exceed 20 consecutive quartersquarterly periods, or extend beyond the maturity date of the NotesMaturity Date. Upon the termination of any Extended Interest Payment Extension Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Extension Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 1 contract

Samples: Mercantile Bancorporation Inc

Extension of Interest Payment Period. The 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 NotesDebentures, to defer payments of interest on the Debentures by extending the interest payment period of such Notes Debentures for a period not exceeding 20 consecutive quarters quarterly periods (the "Extended Interest Payment Extension Period"), during which Extended Interest Payment Extension Period no interest shall be due and payable; provided that no Extended Extension Period shall end on a date other than an Interest Payment Period may Date or extend beyond the Maturity 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 2.134.1, will bear interest thereon at the a rate of interest specified in the applicable Security _____% per annum compounded quarterly, quarterly for each quarter quarterly period of the Extended Interest Payment Extension Period ("Compounded Interest"). At the end of the Extended Interest Payment Extension Period, the Company shall pay all interest accrued and unpaid on the NotesDebentures, including any Additional Sums and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, ) that shall be payable to the Holders of the Notes in whose names the Notes Debentures are registered in the Security Register on the first record date after relating to the end of the Extended Interest Payment PeriodDate on which the Extension Period ends. Before the termination of any Extended Interest Payment 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, quarterly periods or extend beyond the maturity date Maturity Date of the NotesDebentures. Upon the termination of any Extended Interest Payment Extension Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Extension Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Extension Period, except at the end thereof, but . Compounded Interest shall be treated as interest for all purposes under the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment PeriodIndenture.

Appears in 1 contract

Samples: Suntrust Banks Inc

Extension of Interest Payment Period. The 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 NotesDebentures, to defer payments of interest on the Debentures by extending the interest payment period of such Notes Debentures for a period not exceeding 20 consecutive quarters quarterly periods (the "Extended Interest Payment Extension Period"), during which Extended Interest Payment Extension Period no interest shall be due and payable; provided that no Extended Extension Period shall end on a date other than an Interest Payment Period may Date or extend beyond the Maturity 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 2.13, 4.1 will bear interest thereon at the a rate of interest specified in the applicable Security _______% per annum compounded quarterly, quarterly for each quarter quarterly period of the Extended Interest Payment Extension Period ("Compounded Additional Interest"). At the end of the Extended Interest Payment Extension Period, the Company shall pay all interest accrued and unpaid on the NotesDebentures, including any Compounded Additional Sums and Additional Interest (together, "Deferred Interest"), together with all other amounts due thereon, ) that shall be payable to the Holders of the Notes in whose names the Notes Debentures are registered in the Security Register on the first record date after relating to the end of the Extended Interest Payment PeriodDate on which the Extension Period ends. Before the termination of any Extended Interest Payment 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, quarterly periods or extend beyond the maturity date Maturity Date of the NotesDebentures. Upon the termination of any Extended Interest Payment Extension Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Extension Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Extension Period, except at the end thereof, but . Additional Interest shall be treated as interest for all purposes under the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment PeriodIndenture.

Appears in 1 contract

Samples: Fw Preferred Capital Trust I

Extension of Interest Payment Period. The 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 NotesDebentures, to defer payments of interest on the Debentures by extending the interest payment period of such Notes Debentures for a period not exceeding 20 consecutive quarters quarterly periods (the "Extended Interest Payment PeriodEXTENSION PERIOD"), during which Extended Interest Payment Extension Period no interest shall be due and payable; provided that no Extended Extension Period shall end on a date other than an Interest Payment Period may Date or extend beyond the Maturity 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 2.134.1, will bear interest thereon at the a rate of interest specified in the applicable Security ____% per annum compounded quarterly, quarterly for each quarter quarterly period of the Extended Interest Payment Extension Period ("Compounded InterestCOMPOUNDED INTEREST"). At the end of the Extended Interest Payment Extension Period, the Company shall pay all interest accrued and unpaid on the NotesDebentures, including any Additional Sums and Compounded Interest (together, "Deferred InterestDEFERRED INTEREST"), together with all other amounts due thereon, ) that shall be payable to the Holders of the Notes in whose names the Notes Debentures are registered in the Security Register on the first record date after relating to the end of the Extended Interest Payment PeriodDate on which the Extension Period ends. Before the termination of any Extended Interest Payment 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, quarterly periods or extend beyond the maturity date Maturity Date of the NotesDebentures. Upon the termination of any Extended Interest Payment Extension Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Extension Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Extension Period, except at the end thereof, but . Compounded Interest shall be treated as interest for all purposes under the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment PeriodIndenture.

Appears in 1 contract

Samples: Suntrust Banks Inc

Extension of Interest Payment Period. The Company shall have the right, at any time and from time to time during the term of the NotesDebentures, to defer payments of interest by extending the interest payment period of such Notes Debentures for a period not exceeding 20 consecutive quarters (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity 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 2.134.1, will bear interest thereon shall accrue at the rate of interest specified in the applicable Security Coupon Rate compounded quarterly, quarterly for each quarter of the Extended Interest Payment Period ("Compounded Interest"). At the end of the Extended Interest Payment Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the NotesDebentures, including any Additional Interest and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, ) that shall be payable to the Holders holders of the Notes Debentures in whose names the Notes Debentures are registered in the Security Debenture Register on the first record date after the end of the Extended Interest Payment Period. Before the termination of any 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 Maturity Date of the NotesDebentures. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 1 contract

Samples: Sal Trust Preferred Fund I

Extension of Interest Payment Period. The Company shall have the right, at any time and from time to time during the term of the NotesDebentures, to defer payments of interest by extending the interest payment period of such Notes Debentures for a period not exceeding 20 consecutive quarters (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity 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 2.134.1, will bear interest thereon at the rate of interest specified in the applicable Security Coupon Rate compounded quarterly, quarterly for each quarter of the Extended Interest Payment Period ("Compounded Interest"). At the end of the Extended Interest Payment Period, the Company shall pay all interest accrued and unpaid on the NotesDebentures, including any Addi- tional Interest and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, ) that shall be payable to the Holders of the Notes Debentures in whose names the Notes Debentures are registered in the Security Register on the first record date after the end of the Extended Interest Payment Period. Before the termination of any 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 NotesDebentures. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 1 contract

Samples: Fourth Supplemental Indenture (MCN Energy Group Inc)

Extension of Interest Payment Period. The Subject to Section 3.13 of the Indenture, the Company shall have the right, at any time and from time to time during the term of the NotesDebentures, to defer payments of interest by extending the interest payment period of such Notes Debentures for a period not exceeding 20 consecutive quarters (the an "Extended Interest Payment Extension Period"), during which Extended Interest Payment Extension Period no interest shall be due and payable; provided that no Extended Interest Payment Extension Period may end on a date other than an Interest -------- Payment Date or extend beyond the Maturity 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 2.134.1, will bear interest thereon at the rate of interest specified in the applicable Security Interest Rate compounded quarterly, quarterly for each quarter of the Extended Interest Payment Extension Period ("Compounded Interest"). At the end of the Extended Interest Payment Extension ------------------- Period, the Company shall pay all interest accrued and unpaid on the NotesDebentures, including any Additional Sums and Compounded Interest (together, "Deferred -------- Interest"), together with all other amounts due thereon, ) that shall be payable to the Holders of the Notes Debentures in whose names -------- the Notes Debentures are registered in the Security Register on the first record date after relating to the end of the Extended Interest Payment PeriodDate on which the Extension Period ends. Before the termination of any Extended Interest Payment 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 Maturity Date of the NotesDebentures. Upon the termination of any Extended Interest Payment Extension Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Extension Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment 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 Extended Interest Payment Period.

Appears in 1 contract

Samples: Sixth Supplemental Indenture (Bank One Capital Iv)

Extension of Interest Payment Period. SECTION 4.1 The Company shall have the right, subject to the conditions set forth herein, to defer payments of interest on the Debentures of a series by extending the interest payment period on the Debentures of a series at any time and from time to time during the term of the NotesDebentures, for up to defer payments of interest by extending the 20 consecutive quarterly periods (each such extended interest payment period of such Notes for a period not exceeding 20 consecutive quarters (the period, an "Extended Interest Payment Extension Period"), during which Extended Interest Payment Extension Period no interest shall be due and payable; provided that (i) no Extended Interest Payment Extension Period may extend beyond the Maturity Date. To Date and (ii) no Extension Period may commence or be extended so long as the extent permitted by applicable law, interest, Company is in default in the payment of which any interest upon any Debentures of such series or has been deferred because of the extension of the interest payment period pursuant to this Section 2.13, will bear interest thereon at the rate of interest specified in the applicable Security compounded quarterly, for each quarter of the Extended not paid all Deferred Interest Payment Period ("Compounded Interest")from a prior completed Extension Period. At the end termination of an Extension Period for the Extended Debentures of a series or, if not an Interest Payment PeriodDate, on the Interest Payment Date immediately following termination of such Extension Period for the Debentures of such series, the Company shall pay all interest then accrued and unpaid on the NotesDebentures, including together with interest thereon at a variable annual rate equal to LIBOR plus 0.98%, compounded quarterly (to the extent permitted by applicable law) ("Compounded Interest") and any Compounded Additional Interest (togethertogether with Compounded Interest, "Deferred Interest"), together with all other amounts due thereon, that which Deferred Interest shall be payable to the Holders holders of the Notes Debentures of such series in whose names the Notes Debentures are registered in the Debt Security Register on the first record date after for the end payment of the Extended interest on such Interest Payment PeriodDate. Before the termination of any Extended Interest Payment Extension Period, the Company may further extend such period, provided that such period together with all such previous and further consecutive extensions thereof shall not exceed 20 consecutive quartersquarterly periods, or extend beyond the maturity date of the NotesMaturity Date. Upon the termination of any Extended Interest Payment Extension Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Extension Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 1 contract

Samples: First Supplemental Indenture (National Commerce Capital Trust I)

Extension of Interest Payment Period. The Company shall have the right, at any time and from time to time during the term of the Notes, to defer payments of interest by extending the interest payment period of such Notes for a period not exceeding 20 10 consecutive quarters semi-annual periods (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity 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 2.134.1, will bear interest thereon at the rate of interest specified in the applicable Security Coupon Rate compounded quarterly, semi-annually for each quarter semi-annual period of the Extended Interest Payment Period ("Compounded Interest"). At the end of the Extended Interest Payment Period, the Company shall pay all interest accrued and unpaid on the Notes, including any Additional Interest and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, ) that shall be payable to the Holders of the Notes in whose names the Notes are registered in the Security Register on the first record date after the end of the Extended Interest Payment Period. Before the termination of any Extended Interest Payment 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 10 consecutive quarterssemi-annual periods, or extend beyond the maturity date Maturity Date of the Notes. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 1 contract

Samples: Bank of America Corp /De/

Extension of Interest Payment Period. The Subject to the provisions of Section 7.2, the Company shall have the right, at any time and from time to time during the term of the Notes, from time to defer payments of interest by extending time to extend the interest payment period of such Notes for a period not exceeding up to 20 consecutive quarters (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity 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 2.134.1, will bear interest thereon at the rate of interest specified in the applicable Security compounded quarterly, Coupon Rate for each quarter of the Extended Interest Payment Period ("Compounded Interest")Period. At the end of the Extended Interest Payment Period, Period the Company shall pay all interest accrued and unpaid on the Notes, Notes including any Compounded Additional Interest (together, "Deferred Interest"), together with all other amounts due thereon, that ) which shall be payable to the Holders holders of the Notes in whose names the Notes are registered in the Security Register on the first record date after the end of the Extended Interest Payment Period. Before the termination of any 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 Notes. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence select a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 1 contract

Samples: Third Supplemental Indenture (Us West Inc)

Extension of Interest Payment Period. The 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 NotesSubordinated Debentures, from time to time to defer payments of interest by extending the interest payment period of such Notes Subordinated Debentures for a period not exceeding up to 20 consecutive quarters quarters, but not beyond the Scheduled Maturity Date of the Subordinated Debentures (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity 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 2.134.1, will bear interest thereon at the rate of interest specified in the applicable Security Coupon Rate compounded quarterly, quarterly for each quarter of the Extended Interest Payment Period ("Compounded Interest"). At the end of the Extended Interest Payment Period, Period the Company shall pay all interest accrued and unpaid on the NotesSubordinated Debentures, including any Additional Sums and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, ) that shall be payable payable, to the Holders of the Notes Subordinated Debentures in whose names the Notes Subordinated Debentures are registered in the Security Register on the first record date Regular Record Date after the end of the Extended Interest Payment Period. Before the termination of any Extended Interest Payment 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 NotesScheduled Maturity Date. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 1 contract

Samples: Supplemental Indenture (Northwestern Capital Financing I)

Extension of Interest Payment Period. The 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 Notes, to defer payments of interest by extending the interest payment period of such Notes Securities for a period not exceeding 20 consecutive quarters quarterly periods, including the first such quarterly period during such extension period (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payablepayable on the Securities; provided that no Extended Interest Payment Period may shall end on a date other than an Interest Payment Date or extend beyond the Maturity 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 2.13, will bear interest thereon at the rate of interest specified in the applicable Security compounded quarterly, for each quarter of the Extended Interest Payment Period ("Compounded Interest"). At the end of the Extended Interest Payment Period, the Company shall pay all interest accrued and unpaid on the Notes, including any Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, that shall be payable to the Holders holders of the Notes in whose names the Notes are registered in the Security Note Register on the first record date after preceding the end of the Extended Interest Payment Period. Before the termination of any Extended Interest Payment 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 Extended Interest Payment Period, shall not exceed 20 consecutive quartersquarterly periods, including the first such quarterly period during such Extended Interest Payment Period, or extend beyond the maturity date of the NotesMaturity Date. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 1 contract

Samples: Deferrable Interest Note Agreement (FBL Financial Group Inc)

Extension of Interest Payment Period. The Company shall have the right, at any time and from time to time during the term of the Notes, to defer payments of interest by extending the interest payment period of such Notes for a period not exceeding 20 20[10] consecutive quarters [semi-annual periods] (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity 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 2.134.1, will bear interest thereon at the rate of interest specified in the applicable Security Coupon Rate compounded quarterly, quarterly [semi-annually] for each quarter [semi-annual period] of the Extended Interest Payment Period ("Compounded Interest"). At the end of the Extended Interest Payment Period, the Company shall pay all interest accrued and unpaid on the Notes, including any Additional Interest and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, Interest “) that shall be payable to the Holders of the Notes in whose names the Notes are registered in the Security Register on the first record date after the end of the Extended Interest Payment Period. Before the termination of any Extended Interest Payment 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 20[10] consecutive quartersquarters [semi-annual periods], or extend beyond the maturity date Maturity Date of the Notes. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 1 contract

Samples: Indenture (RJF Capital Trust III)

Extension of Interest Payment Period. The Company shall have the right, at any time and from time to time during the term of the Notes, from time to time, to defer payments of interest by extending the interest payment period of such Notes for a period not exceeding up to 20 consecutive quarters (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity 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 2.134.1, will bear interest thereon at the rate of interest specified in the applicable Security Coupon Rate compounded quarterly, quarterly for each quarter of the Extended Interest Payment Period ("Compounded Interest"). At the end of the Extended Interest Payment Period, Period the Company shall pay all interest accrued and unpaid on the Notes, including any Compounded Deferred Interest (together, "Deferred Interest"), together with all other amounts due thereon, that shall be payable payable, to the Holders of the Notes in whose names the Notes are registered in the Security Register on the first record date after the end of the Extended Interest Payment Period. Before the termination of any 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 Notes. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 1 contract

Samples: First Supplemental Indenture (Southwest Gas Corp)

Extension of Interest Payment Period. The 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 NotesDebentures, to defer payments of interest on the Debentures by extending the interest payment period of such Notes Debentures for a period not exceeding 20 consecutive quarters quarterly periods (the "Extended Interest Payment Extension Period"), during which Extended Interest Payment Extension Period no interest shall be due and payable; provided that no Extended Extension Period shall end on a date other than an Interest Payment Period may Date or extend beyond the Maturity 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 2.134.1, will bear interest thereon at the a rate of interest specified in the applicable Security 8.10% per annum compounded quarterly, quarterly for each quarter quarterly period of the Extended Interest Payment Extension Period ("Compounded Interest"). At the end of the Extended Interest Payment Extension Period, the Company shall pay all interest accrued and unpaid on the NotesDebentures, including any Additional Interest and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, ) that shall be payable to the Holders of the Notes in whose names the Notes Debentures are registered in the Security Register on the first record date after relating to the end of the Extended Interest Payment PeriodDate on which the Extension Period ends. Before the termination of any Extended Interest Payment 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, quarterly periods or extend beyond the maturity date Maturity Date of the NotesDebentures. Upon the termination of any Extended Interest Payment Extension Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Extension Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Extension Period, except at the end thereof, but . The provisions of this Section 4.1 and Section 4.2 shall apply to the Company may prepay at any time all or any portion Debentures in lieu of Section 3.11 of the interest accrued during an Extended Interest Payment PeriodIndenture.

Appears in 1 contract

Samples: Mbna Corp

Extension of Interest Payment Period. The So long as an Event of Default under Section 4.01(a) of the Base Indenture shall not have occurred and be continuing, the Company shall have the right, right at any time time, and from time to time time, during the term of the Notes, Convertible Debentures to defer payments of interest by extending the interest payment period of such Notes Convertible Debentures for a period not exceeding 20 consecutive quarters (the "Extended Interest Payment PeriodEXTENSION PERIOD"), during which Extended Interest Payment Extension Period no interest shall be due and payable; provided provided, that no Extended Interest Payment Extension Period may extend beyond the Maturity Date or any earlier Redemption 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 2.13Section, will bear interest thereon at the rate of interest specified in the applicable Security Coupon Rate compounded quarterly, quarterly for each quarter of the Extended Interest Payment Extension Period ("Compounded InterestCOMPOUNDED INTEREST"). At the end of the Extended Interest Payment Extension Period, the Company shall pay all interest accrued and unpaid on the NotesConvertible Debentures, including any Additional Interest and Compounded Interest (together, "Deferred InterestDEFERRED INTEREST"), together with all other amounts due thereon, ) that shall be payable to the Holders of the Notes Convertible Debentures in whose names the Notes Convertible Debentures are registered in the Security Debenture Register on the first record date Regular Record Date after the end of the Extended Interest Payment Extension Period. Before the termination of any Extended Interest Payment Extension 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 NotesMaturity Date or any earlier Redemption Date. Upon the termination of any Extended Interest Payment Extension Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Extension Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment 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 Extended Interest Payment Extension Period.

Appears in 1 contract

Samples: Purchase Agreement (Federal Mogul Corp)

Extension of Interest Payment Period. The Company shall have the right, at any time and from time to time during the term of the Notes, from time to defer payments of interest by extending time to extend the interest payment period of such Notes for a period not exceeding 20 up to [ ] consecutive quarters [ ] periods (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity 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 2.134.1, will bear interest thereon at the rate of interest specified in the applicable Security compounded quarterly, Coupon Rate for each quarter [ ] period of the Extended Interest Payment Period ("Compounded Interest")Period. At the end of the Extended Interest Payment Period, Period the Company shall pay all interest accrued and unpaid on the Notes, Notes including any Compounded Additional Interest (together, "Deferred Interest"), together with all other amounts due thereon, that ) which shall be payable to the Holders holders of the Notes in whose names the Notes are registered in the Security Register on the first record date after the end of the Extended Interest Payment Period. Before the termination of any 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 Notes[ ] periods. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence select a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 1 contract

Samples: Mediaone Finance Trust Vi

Extension of Interest Payment Period. The Company shall have the right, at any time and from time to time during the term of the Notes, to defer payments of interest by extending the interest payment period of such Notes for a period not exceeding 20 consecutive quarters quarterly periods (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that providedthat no Extended Interest Payment Period may extend beyond the Maturity 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 2.134.1, will bear interest thereon at the rate of interest specified in the applicable Security Coupon Rate compounded quarterly, quarterly for each quarter quarterly period of the Extended Interest Payment Period ("Compounded Interest"). At the end of the Extended Interest Payment Period, the Company shall pay all interest accrued and unpaid on the Notes, including any Additional Interest and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, ) that shall be payable to the Holders of the Notes in whose names the Notes are registered in the Security Register on the first record date after the end of the Extended Interest Payment Period. Before the termination of any Extended Interest Payment 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 maturity date Maturity Date of the Notes. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 1 contract

Samples: Bank of America Corp /De/

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Extension of Interest Payment Period. The 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 NotesDebentures, to defer payments of interest on the Debentures by extending the interest payment period of such Notes Debentures for a period not exceeding 20 10 consecutive quarters semi-annual periods (the "Extended Interest Payment Extension Period"), during which Extended Interest Payment Extension Period no interest shall be due and payable; provided that no Extended Extension Period shall end on a date other than an Interest Payment Period may Date or extend beyond the Maturity 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 2.13, 4.1 will bear interest thereon at the a rate of interest specified in the applicable Security _____% per annum compounded quarterly, semi-annually for each quarter semi-annual period of the Extended Interest Payment Extension Period ("Compounded Interest"). At the end of the Extended Interest Payment Extension Period, the Company shall pay all interest accrued and unpaid on the NotesDebentures, including any Additional Sums and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, ) that shall be payable to the Holders of the Notes in whose names the Notes Debentures are registered in the Security Register on the first record date after relating to the end of the Extended Interest Payment PeriodDate on which the Extension Period ends. Before the termination of any Extended Interest Payment 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 10 consecutive quarters, semi-annual periods or extend beyond the maturity date Maturity Date of the NotesDebentures. Upon the termination of any Extended Interest Payment Extension Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Extension Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Extension Period, except at the end thereof, but . Compounded Interest shall be treated as interest for all purposes under the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment PeriodIndenture.

Appears in 1 contract

Samples: Suntrust Capital Iv

Extension of Interest Payment Period. The Company shall have the right, at any time and from time to time during the term of the Notes, from time to time, to defer payments of interest by extending the interest payment period of such Notes for a period not exceeding 20 up to 10 consecutive quarters semi-annual (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity 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 2.134.1, will bear interest thereon at the rate of interest specified in the applicable Security Coupon Rate compounded quarterly, semi-annually for each quarter of the Extended Interest Payment Period ("Compounded Interest"). At the end of the Extended Interest Payment Period, Period the Company shall pay all interest accrued and unpaid on the Notes, including any Compounded Deferred Interest (together, "Deferred Interest"), together with all other amounts due thereon, that shall be payable payable, to the Holders of the Notes in whose names the Notes are registered in the Security Register on the first record date after the end of the Extended Interest Payment Period. Before the termination of any 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 extend beyond the maturity date of the Notessemi-annual periods. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment PeriodPeriod 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 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 Extended Interest Payment Period.

Appears in 1 contract

Samples: Indenture (Great Western Financial Trust Iii)

Extension of Interest Payment Period. The So long as no Event of Default under Section 6.1 of the Base Indenture has occurred and is 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 NotesJunior Subordinated Debentures, from time to time to defer payments the payment of interest by extending the interest payment period of such Notes Junior Subordinated Debentures for a period not exceeding 20 consecutive quarters (the an "Extended Interest Payment Extension Period"), during which Extended Extension Period the Company shall not have the right to make partial payments of interest. No Extension Period shall end on a date other than an Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may Date or extend beyond the Stated Maturity Dateof the Junior Subordinated Debentures. To the extent permitted by applicable law, interest, the payment of which has been deferred because of the extension of the interest payment period an Extension Period imposed pursuant to this Section 2.134.1, will bear interest thereon at the rate of interest specified in the applicable Security Additional Interest compounded quarterly, for each quarter of the Extended Interest Payment Period ("Compounded Interest"). At the end of the Extended Interest Payment Extension Period, the Company shall pay all interest then accrued and unpaid on the NotesJunior Subordinated Debentures, including any Compounded Additional Interest (togetherand Additional Tax Sums, "Deferred Interest")if applicable, together with all other amounts due thereon, that shall be payable to the Holders holders of the Notes Junior Subordinated Debentures in whose names the Notes Junior Subordinated Debentures are registered in the Security Register on the first record date after Record Date preceding the end of the Extended Interest Payment Extension Period. Before the termination of any Extended Interest Payment Extension Period, the Company may 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 NotesStated Maturity. Upon At any time following the termination of any Extended Interest Payment Extension Period and upon the payment of all Deferred any accrued and unpaid Additional Interest and Additional Tax Sums, if applicable, then due, the Company may commence elect to begin a new Extended Interest Payment Extension Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Extension Period, except at the end thereof. During any such Extension Period, but 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 of the Company's Capital Stock or (ii) make any payment of principal of or interest on or repay, repurchase or redeem any debt securities of the Company that rank on a parity with or junior to this Debenture or make any guarantee payments with respect to any CNG Guarantee or other guarantee by the Company of the debt securities of any Subsidiary of the Company that by its terms ranks on a parity with or junior to this Debenture (other than (a) dividends or distributions in Common Stock, (b) any declaration of a dividend in connection with the implementation of a Rights Plan, the issuance of any Capital Stock or any portion class or series of preferred stock of the interest accrued during an Extended Interest Payment PeriodCompany under any Rights Plan or the redemption or repurchase of any rights distributed pursuant to a Rights Plan, (c) payments under any CNG Guarantee relating to the Trust Preferred Securities issued by the CNG Trust holding the Junior Subordinated Debentures, and (d) purchases of Common Stock related to the issuance of Common Stock or rights under any of the Company's benefit plans for its directors, officers, employees, consultants or advisors).

Appears in 1 contract

Samples: Consolidated Natural Gas Co/Va

Extension of Interest Payment Period. The Company shall have the right, at any time and from time to time during the term of the Notes, to defer payments of interest by extending the interest payment period of such Notes for a period not exceeding 20 10 consecutive quarters semi-annual periods (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity 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 2.134.1, will bear interest thereon at the rate of interest specified in the applicable Security Coupon Rate compounded quarterly, semi-annually for each quarter semi-annual period of the Extended Interest Payment Period ("Compounded Interest"). At the end of the Extended Interest Payment Period, the Company shall pay all interest accrued and unpaid on the Notes, including any Additional Interest and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, ) that shall be payable to the Holders of the Notes in whose names the Notes are registered in the Security Register on the first record date after the end of the Extended Interest Payment Period. Before the termination of any 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 quarterssemi-annual periods, or extend beyond the maturity date Maturity Date of the Notes. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 1 contract

Samples: Nb Capital Trust Ii

Extension of Interest Payment Period. The 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 NotesDebentures, to defer payments of interest by extending the interest payment period of such Notes Debentures for a period not exceeding 20 twenty (20) consecutive quarters (the "Extended Interest Payment “Extension Period"), during which Extended Interest Payment Extension Period no interest shall be due and payable; provided that no Extended Interest Payment Extension Period may extend beyond the Maturity Date or end on a date other than 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 2.135.1, will shall bear interest thereon at the rate of interest specified in the applicable Security Coupon Rate compounded quarterly, quarterly for each quarter of the Extended Interest Payment Extension Period ("Compounded Interest"). At the end of the Extended Interest Payment Extension Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the NotesDebentures, including any Additional Payments and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, Payments”) that shall be payable to the Holders holders of the Notes Debentures in whose names the Notes Debentures are registered in the Security Debenture Register on the first record date after the end of the Extended Interest Payment Extension Period. Before the termination of any Extended Interest Payment 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 twenty (20) consecutive quarters, or extend beyond the maturity date Maturity Date of the NotesDebentures or end on a date other than an Interest Payment Date. Upon the termination of any Extended Interest Payment Extension Period and upon the payment of all Deferred Interest Payments then due, the Company may commence a new Extended Interest Payment Extension Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment 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 Extended Interest Payment Extension Period.

Appears in 1 contract

Samples: Indenture (Tompkins Financial Corp)

Extension of Interest Payment Period. The Company shall have the right, at any time and from time to time during the term of the Notes, to defer payments of interest by extending the interest payment period of such Notes for a period not exceeding 20 ____ consecutive quarters semi-annual periods (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity 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 2.134.1, will bear interest thereon at the rate of interest specified in the applicable Security Coupon Rate compounded quarterly, semi-annually for each quarter semi-annual period of the Extended Interest Payment Period ("Compounded Interest"). At the end of the Extended Interest Payment Period, the Company shall pay all interest accrued and unpaid on the Notes, including any Additional Interest and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, ) that shall be payable to the Holders of the Notes in whose names the Notes are registered in the Security Register on the first record date after the end of the Extended Interest Payment Period. Before the termination of any 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 quarterssemi-annual periods, or extend beyond the maturity date Maturity Date of the Notes. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 1 contract

Samples: Supplemental Indenture (Nb Capital Trust V)

Extension of Interest Payment Period. SECTION 4.1 The Company shall have the right, subject to the conditions set forth herein, to defer payments of interest on the Debentures of a series by extending the interest payment period on the Debentures of a series at any time and from time to time during the term of the NotesDebentures, to defer payments of interest by extending the interest payment period of such Notes for a period not exceeding 20 10 consecutive quarters semiannual periods (the each such extended interest payment period, an "Extended Interest Payment Extension Period"), during which Extended Interest Payment Extension Period no interest shall be due and payable; provided that (i) no Extended Interest Payment Extension Period may extend beyond the Maturity Date. To Date and (ii) no Extension Period may commence or be extended so long as the extent permitted by applicable law, interest, Company is in default in the payment of which any interest upon any Debentures of such series or has been deferred because of the extension of the interest payment period pursuant to this Section 2.13, will bear interest thereon at the rate of interest specified in the applicable Security compounded quarterly, for each quarter of the Extended not paid all Deferred Interest Payment Period ("Compounded Interest")from a prior completed Extension Period. At the end termination of an Extension Period for the Extended Debentures of a series or, if not an Interest Payment PeriodDate, on the Interest Payment Date immediately following termination of such Extension Period for the Debentures of such series, the Company shall pay all interest then accrued and unpaid on the NotesDebentures, including together with interest thereon at an annual rate of 8.40%, compounded semiannually (to the extent permitted by applicable law) ("Compounded Interest") and any Compounded Additional Interest (togethertogether with Compounded Interest, "Deferred Interest"), together with all other amounts due thereon, that which Deferred Interest shall be payable to the Holders holders of the Notes Debentures of such series in whose names the Notes Debentures are registered in the Debt Security Register on the first record date after for the end payment of the Extended interest on such Interest Payment PeriodDate. Before the termination of any Extended Interest Payment Extension Period, the Company may further extend such period, provided that such period together with all such previous and further consecutive extensions thereof shall not exceed 20 10 consecutive quarterssemiannual periods, or extend beyond the maturity date of the NotesMaturity Date. Upon the termination of any Extended Interest Payment Extension Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Extension Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 1 contract

Samples: Indenture (Summit Capital Trust I)

Extension of Interest Payment Period. The 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 NotesDebentures, to defer payments of interest on the Debentures by extending the interest payment period of such Notes Debentures for a period not exceeding 20 consecutive quarters quarterly periods (the "Extended Interest Payment Extension Period"), during which Extended Interest Payment Extension Period no interest shall be due and payable; provided that no Extended Extension Period shall end on a date other than an Interest Payment Period may Date or extend beyond the Maturity 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 2.134.1, will bear interest thereon at the a rate of interest specified in the applicable Security 8.125% per annum compounded quarterly, quarterly for each quarter quarterly period of the Extended Interest Payment Extension Period ("Compounded Interest"). At the end of the Extended Interest Payment Extension Period, the Company shall pay all interest accrued and unpaid on the NotesDebentures, including any Additional Interest and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, ) that shall be payable to the Holders of the Notes in whose names the Notes Debentures are registered in the Security Register on the first record date after relating to the end of the Extended Interest Payment PeriodDate on which the Extension Period ends. Before the termination of any Extended Interest Payment 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, quarterly periods or extend beyond the maturity date Maturity Date of the NotesDebentures. Upon the termination of any Extended Interest Payment Extension Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Extension Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Extension Period, except at the end thereof, but . The provisions of this Section 4.1 and Section 4.2 shall apply to the Company may prepay at any time all or any portion Debentures in lieu of Section 3.11 of the interest accrued during an Extended Interest Payment PeriodIndenture.

Appears in 1 contract

Samples: First Supplemental Indenture (Mbna Corp)

Extension of Interest Payment Period. The Company shall have the right, at any time and from time to time during the term of the Notes, from time to time to defer payments the payment of interest by extending the interest payment period of such Notes for a period not exceeding up to 20 consecutive quarters (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity DateDate of the Notes. To the extent permitted by applicable law, interest, the payment of which has been deferred because of the extension of the interest payment period pursuant to this Section 2.134.1, will bear interest thereon at the rate of interest specified in the applicable Security Coupon Rate, compounded quarterly, for each quarter of the Extended Interest Payment Period ("Compounded Interest"). At the end of the Extended Interest Payment Period, Period the Company shall pay all interest accrued and unpaid on the Notes, Notes including any Additional Interest and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, that ”) which shall be payable to the Holders of the Notes in whose names the Notes are registered in the Security Note Register on the first record date after the end of the Extended Interest Payment Period. Before the termination of any 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 Maturity Date of the Notes. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence select a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 1 contract

Samples: Eighth Supplemental Indenture (HSBC Finance Capital Trust IX)

Extension of Interest Payment Period. The Company shall have the right, at any time and from time to time during the term of the Notes, to defer payments of interest by extending the interest payment period of such Notes for a period not exceeding 20 consecutive quarters (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity 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 2.134.1, will bear interest thereon at the rate of interest specified in the applicable Security Coupon Rate compounded quarterly, quarterly for each quarter of the Extended Interest Payment Period ("Compounded Interest"). At the end of the Extended Interest Payment Period, the Company shall pay all interest accrued and unpaid on the Notes, including any Additional Interest and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, ) that shall be payable to the Holders of the Notes in whose names the Notes are registered in the Security Register on the first record date after the end of the Extended Interest Payment Period. Before the termination of any 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 Notes. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 1 contract

Samples: Nb Capital Trust I

Extension of Interest Payment Period. The So long as no Event of Default under Section 6.1 of the Base Indenture has occurred and is 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 NotesJunior Subordinated Debentures, from time to time to defer payments the payment of interest by extending the interest payment period of such Notes Junior Subordinated Debentures for a period not exceeding 20 consecutive quarters (the an "Extended Interest Payment Extension Period"), during which Extended Extension Period the Company shall not have the right to make partial payments of interest. No Extension Period shall end on a date other than an Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may Date or extend beyond the Stated Maturity Dateof the Junior Subordinated Debentures. To the extent permitted by applicable law, interest, the payment of which has been deferred because of the extension of the interest payment period an Extension Period imposed pursuant to this Section 2.134.1, will bear interest thereon at the rate of interest specified in the applicable Security Additional Interest compounded quarterly, for each quarter of the Extended Interest Payment Period ("Compounded Interest"). At the end of the Extended Interest Payment Extension Period, the Company shall pay all interest then accrued and unpaid on the NotesJunior Subordinated Debentures, including any Compounded Additional Interest (togetherand Additional Tax Sums, "Deferred Interest")if applicable, together with all other amounts due thereon, that shall be payable to the Holders holders of the Notes Junior Subordinated Debentures in whose names the Notes Junior Subordinated Debentures are registered in the Security Register on the first record date after Record Date preceding the end of the Extended Interest Payment Extension Period. Before the termination of any Extended Interest Payment Extension Period, the Company may 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 NotesStated Maturity. Upon At any time following the termination of any Extended Interest Payment Extension Period and upon the payment of all Deferred any accrued and unpaid Additional Interest and Additional Tax Sums, if applicable, then due, the Company may commence elect to begin a new Extended Interest Payment Extension Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Extension Period, except at the end thereof. During any such Extension Period, but 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 of the Company's Capital Stock or (ii) make any payment of principal of or interest on or repay, repurchase or redeem any debt securities of the Company that rank on a parity with or junior to this Debenture or make any guarantee payments with respect to any DRI Guarantee or other guarantee by the Company of the debt securities of any Subsidiary of the Company that by its terms ranks on a parity with or junior to this Debenture (other than (a) dividends or distributions in Common Stock, (b) any declaration of a dividend in connection with the implementation of a Rights Plan, the issuance of any Capital Stock or any portion class or series of preferred stock of the interest accrued during an Extended Interest Payment PeriodCompany under any Rights Plan or the redemption or repurchase of any rights distributed pursuant to a Rights Plan, (c) payments under any DRI Guarantee relating to the Trust Preferred Securities issued by the DRI Trust holding the Junior Subordinated Debentures, and (d) purchases of Common Stock related to the issuance of Common Stock or rights under any of the Company's benefit plans for its directors, officers, employees, consultants or advisors).

Appears in 1 contract

Samples: Dominion Resources Inc /Va/

Extension of Interest Payment Period. The 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 NotesDebentures, to defer payments of interest by extending the interest payment period of such Notes Debentures for a period not exceeding 20 consecutive quarters (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity 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 2.134.1, will shall bear interest thereon at the rate of interest specified in the applicable Security Interest Rate compounded quarterly, quarterly for each quarter of the Extended Interest Payment Period ("Compounded Interest"). At the end of the Extended Interest Payment Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the NotesDebentures, including any Additional Interest and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, ) that shall be payable to the Holders holders of the Notes Debentures in whose names the Notes Debentures are registered in the Security Debenture Register on the first record date after the end of the Extended Interest Payment Period. Before the termination of any 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 Maturity Date of the NotesDebentures. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 1 contract

Samples: Franklin Capital Trust I

Extension of Interest Payment Period. The Company shall have the right, at any time and from time to time during the term of the Notes, to defer payments of interest by extending the interest payment period of such Notes for a period not exceeding 20 [10] consecutive quarters [semi-annual periods] (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity 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 2.134.1, will bear interest thereon at the rate of interest specified in the applicable Security Coupon Rate compounded quarterly, quarterly [semi-annually] for each quarter [semi-annual period] of the Extended Interest Payment Period ("Compounded Interest"). At the end of the Extended Interest Payment Period, the Company shall pay all interest accrued and unpaid on the Notes, including any Additional Interest and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, ”) that shall be payable to the Holders of the Notes in whose names the Notes are registered in the Security Register on the first record date after the end of the Extended Interest Payment Period. Before the termination of any Extended Interest Payment 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 [10] consecutive quartersquarters [semi-annual periods], or extend beyond the maturity date Maturity Date of the Notes. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 1 contract

Samples: BAC Capital Trust XX

Extension of Interest Payment Period. The Company shall have the right, at any time on or after February 15, 2004 and from time to time thereafter during the term of the Notesthis Security, to defer payments of interest (including Compounded Interest (as defined below), and Additional Interest, if any) by extending the interest payment period of such Notes Security for a period not exceeding up to 20 consecutive quarters (the each an "Extended Interest Payment Extension Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity 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 2.13312 of the Indenture (as defined below), will bear interest thereon at the rate of interest specified in the applicable Security [____]% compounded quarterly, quarterly for each quarter of the Extended Interest Payment Extension Period ("Compounded Interest"); provided, that during an Extension Period, the Company shall be subject to the provisions of Section 1008 of the Indenture. At the end of the Extended Interest Payment Extension Period, the Company shall pay all interest then accrued and unpaid on the NotesSecurities, including any Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereonAdditional Payments, that shall be payable to the Holders holders of the Notes Securities in whose names the Notes Securities are registered in the Security Register ("Holders") on the first record date Regular Record Date after the end of the Extended Interest Payment Extension Period. Before the termination of any Extended Interest Payment 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, quarters or extend beyond the maturity date of the NotesSecurities or end other than on an Interest Payment Date. Upon the termination of any Extended Interest Payment Extension Period and upon the payment of all Deferred Interest amounts then duedue on the Securities, including any Additional Payments, the A-1-5 Company may commence a new Extended Interest Payment Extension Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, Extension Period except at the end thereof. The Company must give the Property Trustee, the Regular Trustees and the Trustee notice of its election to begin an Extension Period at least one Business Day Prior to the earliest of (i) the date the distribution on the Preferred Securities would have been payable except for the election to begin such Extension Period, or (ii) if applicable, the date the Regular Trustees are required to give notice to the New York Stock Exchange, the Nasdaq National Market or other applicable self-regulatory organization or to holders of such Preferred Securities of the record date or (iii) the date such distribution is payable, but in any event not less than one Business Day prior to the Company may prepay at any time all or any portion record date. The Trustee shall give notice of the interest accrued during Company's election to begin an Extended Interest Payment PeriodExtension Period to the holders of the Securities and the Regular Trustees shall give notice of the Company's election to the holders of the Preferred Securities. The quarter in which any notice is given pursuant to the second paragraph of this Section 3 shall be counted as one of the 20 quarters permitted in the maximum Extension Period permitted under the first paragraph of this Section 3.

Appears in 1 contract

Samples: Fleetwood Capital Trust Iii

Extension of Interest Payment Period. The Subject to Section 3.13 of the Indenture, the Company shall have the right, at any time and from time to time during the term of the NotesDebentures, to defer payments of interest by extending the interest payment period of such Notes Debentures for a period an Extension Period not exceeding 20 consecutive quarters (the "Extended Interest Payment Period")quarters, during which Extended Interest Payment Extension Period no interest shall be due and payable; provided that no Extended -------- ---- Extension Period may end on a date other than an Interest Payment Period may Date or extend beyond the Maturity 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 2.134.1, will bear interest thereon at the rate of interest specified in the applicable Security Interest Rate compounded quarterly, quarterly for each quarter of the Extended Interest Payment Extension Period ("Compounded Interest"). At the end of the Extended Interest Payment Extension Period, the Company shall pay all interest accrued and unpaid on the NotesDebentures, including any Additional Sums and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, ) that shall be payable to the Holders of the Notes Debentures in whose names the Notes Debentures are registered in the Security Register on the first record date after relating to the end of the Extended Interest Payment PeriodDate on which the Extension Period ends. Before the termination of any Extended Interest Payment 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 Maturity Date of the NotesDebentures. Upon the termination of any Extended Interest Payment Extension Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Extension Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment 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 Extended Interest Payment Period.

Appears in 1 contract

Samples: First Chicago NBD Corp

Extension of Interest Payment Period. The Company shall have the right, at any time and from time to time during the term of the NotesDebentures, to defer payments of interest by extending the interest payment period of such Notes Debentures for a period not exceeding 20 consecutive quarters (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity 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 2.134.1, will bear interest thereon at the rate of interest specified in the applicable Security Coupon Rate compounded quarterly, quarterly for each quarter of the Extended Interest Payment Period ("Compounded Interest"). At the end of the Extended Interest Payment Period, the Company shall pay all interest accrued and unpaid on the NotesDebentures, including any Additional Interest and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, ) that shall be payable to the Holders of the Notes Debentures in whose names the Notes Debentures are registered in the Security Register on the first record date after the end of the Extended Interest Payment Period. Before the termination of any 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 Notes. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 1 contract

Samples: Textron Inc

Extension of Interest Payment Period. The So long as no Event of Default under Section 501 of the Base 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 Junior Subordinated Notes, from time to time to defer payments the payment of interest by extending the interest payment period of such Junior Subordinated Notes for a period not exceeding up to 20 consecutive quarters (the "Extended Interest Payment an “Extension Period"), during which Extended Extension Period the Company shall have the right to make partial payments of interest on any Interest Payment Date. No Extension Period no interest shall be due and payable; provided that no Extended end on a date other than an Interest Payment Period may Date or extend beyond the Stated Maturity Dateof the Junior Subordinated Notes. To the extent permitted by applicable law, interest, the payment of which has been deferred because of the extension of the interest payment period an Extension Period imposed pursuant to this Section 2.134.1, will bear interest thereon at the rate of interest specified in the applicable Security Additional Interest compounded quarterly, for each quarter of the Extended Interest Payment Period ("Compounded Interest"). At the end of the Extended Interest Payment Extension Period, the Company shall pay all interest then accrued and unpaid on the Junior Subordinated Notes, including any Compounded Additional Interest (togetherand Additional Tax Sums, "Deferred Interest")if applicable, together with all other amounts due thereon, that shall be payable to the Holders holders of the Junior Subordinated Notes in whose names the Junior Subordinated Notes are registered in the Security Register on the first record date after Record Date preceding the end of the Extended Interest Payment Extension Period. Before the termination of any Extended Interest Payment Extension Period, the Company may 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 NotesStated Maturity. Upon At any time following the termination of any Extended Interest Payment Extension Period and upon the payment of all Deferred any accrued and unpaid Additional Interest and Additional Tax Sums, if applicable, then due, the Company may commence elect to begin a new Extended Interest Payment Extension Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Extension Period, except at the end thereof. During any such Extension Period, but 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 of the Company’s Capital Stock or (ii) make any payment of principal of or interest on or repay, repurchase or redeem any debt securities of the Company that rank on a parity with or junior to this Junior Subordinated Note or make any guarantee payments with respect to any Guarantee or other guarantee by the Company of the debt securities of any Subsidiary of the Company that by its terms ranks on a parity with or junior to this Junior Subordinated Note (other than (a) dividends or distributions in Common Stock, (b) any declaration of a dividend in connection with the implementation of a Rights Plan, the issuance of any Capital Stock or any portion class or series of preferred stock of the interest accrued during an Extended Interest Payment PeriodCompany under any Rights Plan or the redemption or repurchase of any rights distributed pursuant to a Rights Plan, (c) payments under any Guarantee relating to the Trust Preferred Securities issued by the Trust and (d) purchases of Common Stock related to the issuance of Common Stock or rights under any of the Company’s benefit plans for its directors, officers, employees, consultants or advisors).

Appears in 1 contract

Samples: Second Supplemental Indenture (Virginia Electric & Power Co)

Extension of Interest Payment Period. The So long as no Event of Default under Section 501 of the Base Indenture has occurred and is continuing, the Company shall have the right, right at any time and from time to time during the term of the NotesSubordinated Debentures, from time to time to defer payments the payment of interest by extending the interest payment period of such Notes Subordinated Debentures for a period not exceeding 20 10 consecutive quarters semi-annual periods (the an "Extended Interest Payment Extension Period"), during which Extended Extension Period the Company shall [not] have the right to make partial payments of interest. No Extension Period shall end on a date other than an Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may Date or extend beyond the Stated Maturity Dateof the Subordinated Debentures. To the extent permitted by applicable law, interest, the payment of which has been deferred because of the extension of the interest payment period an Extension Period imposed pursuant to this Section 2.134.1, will bear interest thereon at the rate of interest specified in the applicable Security Additional Interest compounded quarterly, for each quarter of the Extended Interest Payment Period ("Compounded Interest")semi-annually. At the end of the Extended Interest Payment Extension Period, the Company shall pay all interest then accrued and unpaid on the NotesSubordinated Debentures, including any Compounded Additional Interest (togetherand Additional Tax Sums, "Deferred Interest")if applicable, together with all other amounts due thereon, that shall be payable to the Holders holders of the Notes Subordinated Debentures in whose names the Notes Subordinated Debentures are registered in the Security Register on the first record date after Record Date preceding the end of the Extended Interest Payment Extension Period. Before the termination of any Extended Interest Payment Extension Period, the Company may further extend such periodExtension 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 maturity date of the NotesStated Maturity. Upon At any time following the termination of any Extended Interest Payment Extension Period and upon the payment of all Deferred any accrued and unpaid Additional Interest and Additional Tax Sums, if applicable, then due, the Company may commence elect to begin a new Extended Interest Payment Extension Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Extension Period, except at the end thereof. During any such Extension Period, but 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 of the Company's "Capital Stock" (which shall include Common Stock and the Company's preferred stock) or (ii) make any payment of principal of or interest on or repay, repurchase or redeem any debt securities of the Company that rank on a parity with or junior to the Subordinated Debentures or make any guarantee payments with respect to any [CSX Guarantee or other] guarantee by the Company of the debt securities of any Subsidiary of the Company that by its terms ranks on a parity with or junior to the Subordinated Debentures (other than (a) dividends or distributions in Common Stock, (b) any declaration of a dividend in connection with the implementation of a Rights Plan, the issuance of any Capital Stock or any portion class or series of preferred stock of the interest accrued during an Extended Interest Payment PeriodCompany under any Rights Plan or the redemption or repurchase of any rights distributed pursuant to a Rights Plan, [(c) payments under any CSX Guarantee relating to the Trust Preferred Securities issued by the Trust,] and (d) purchases of Common Stock related to the issuance of Common Stock or rights under any of the Company's benefit plans for its directors, officers, employees, consultants or advisors).

Appears in 1 contract

Samples: CSX Capital Trust 1

Extension of Interest Payment Period. The 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 NotesSecurities, to defer payments of interest by extending the interest payment period of such Notes Securities for a period not exceeding 20 10 consecutive quarters semi-annual periods, including the first such semi-annual period during such extension period (the "Extended Interest Payment Extension Period"), during which Extended Interest Payment Extension Period no interest shall be due and payable; provided that no Extended Extension Period shall end -------- ---- on a date other than an Interest Payment Period may Date or extend beyond the Maturity 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 2.1316.01, will bear interest thereon at the rate of interest specified in the applicable Security Coupon Rate compounded quarterly, semi-annually for each quarter semi-annual period of the Extended Interest Payment Extension Period ("Compounded Interest"). At the end of the Extended Interest Payment Extension Period, the Company shall pay all interest accrued and unpaid on the NotesSecurities, including any Additional Interest and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, ) that shall be payable to the Holders holders of the Notes Securities in whose names the Notes Securities are registered in the Security Register on the first record date after preceding the end of the Extended Interest Payment Extension Period. Before Prior to the termination of any Extended Interest Payment 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 10 consecutive quarterssemi- annual periods, including the first such semi-annual period during such Extension Period, or extend beyond the maturity date of the NotesMaturity Date. Upon the termination of any Extended Interest Payment Extension Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Extension Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment 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 Extended Interest Payment Extension Period.

Appears in 1 contract

Samples: Indenture (Xerox Capital Trust I)

Extension of Interest Payment Period. The Company shall have the right, at any time and from time to time during the term of the NotesSubordinated Debentures, from time to time to defer payments of interest by extending the interest payment period of such Notes Subordinated Debentures for a period not exceeding up to 20 consecutive quarters (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity Date. To the extent permitted by applicable law, interest, the payment of which has been deferred because Date of the extension of the interest payment period pursuant to this Section 2.13, will bear interest thereon at the rate of interest specified in the applicable Security compounded quarterly, for each quarter of the Extended Interest Payment Period ("Compounded Interest")Subordinated Debentures. At the end of the Extended Interest Payment Period, the Company shall pay all interest accrued and unpaid on the NotesSubordinated Debentures (together with interest thereon to the extent permitted by applicable law, including any at the Coupon Rate, compounded quarterly ("Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, that shall be payable ) to the Holders of the Notes in whose names Subordinated Debentures as of the Notes are registered in the Security Register on the first record date after relating to the Interest Payment Date that corresponds to the end of the such Extended Interest Payment Period. Before the termination of any 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 Maturity Date of the NotesSubordinated Debentures. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest deferred interest then due, the Company may commence a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 1 contract

Samples: Pacific Telesis Financing Iii

Extension of Interest Payment Period. The Company shall have the right, at any time and from time to time during the term of the NotesDebentures, to defer payments of interest by extending the interest payment period of such Notes Debentures for a period not exceeding 20 consecutive quarters (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity 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 2.134.1, will bear interest thereon at the rate of interest specified in the applicable Security Coupon Rate compounded quarterly, quarterly for each quarter of the Extended Interest Payment Period ("Compounded Interest"). At the end of the Extended Interest Payment Period, the Company shall pay all interest accrued and unpaid on the NotesDebentures, including any Additional Interest and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, ) that shall be payable to the Holders holders of the Notes Debentures in whose names the Notes Debentures are registered in the Security Register on the first record date after the end of the Extended Interest Payment Period. Before the termination of any 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, quarters or extend beyond the maturity date of the NotesDebentures. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 1 contract

Samples: First Supplemental Indenture (Arvin Capital I)

Extension of Interest Payment Period. The Company shall have the right, at any time and from time to time during the term of the NotesDebentures, to defer payments of interest by extending the interest payment period of such Notes Debentures for a period not exceeding 20 consecutive calendar quarters (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity 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 2.134.1, will bear interest thereon at the rate of interest specified in the applicable Security Coupon Rate compounded quarterly, quarterly for each quarter quarterly interest payment period of the Extended Interest Payment Period ("Compounded Interest"). At the end of the Extended Interest Payment Period, the Company shall pay all interest accrued and unpaid on the NotesDebentures, including any Additional Interest and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, ) that shall be payable to the Holders holders of the Notes Debentures in whose names the Notes Debentures are registered in the Security Register on the first record date after the end of the Extended Interest Payment Period. Before the termination of any 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, calendar quarters or extend beyond the maturity date of the NotesDebentures. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 1 contract

Samples: First Supplemental Indenture (WPSR Capital Trust I)

Extension of Interest Payment Period. The Company shall have the right, at any time and from time to time during the term of the NotesDebentures, to defer payments of interest by extending the interest payment period of such Notes Debentures for a period not exceeding 20 consecutive quarters (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity 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 2.134.1, will bear interest inter- est thereon at the rate of interest specified in the applicable Security Coupon Rate compounded quarterly, quarterly for each quarter of the Extended Interest Payment Period ("Compounded Interest"). At the end of the Extended Interest Payment Period, the Company shall pay all interest accrued and unpaid on the NotesDebentures, including any Additional Interest and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, ) that shall be payable to the Holders of the Notes Debentures in whose names the Notes Debentures are registered in the Security Register on the first record date after the end of the Extended Interest Payment Period. Before the termination of any 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 NotesDebentures. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 1 contract

Samples: MCN Financing Iv

Extension of Interest Payment Period. The Company shall have the right, at any time and from time to time during the term of the Notes, to defer payments of interest by extending the interest payment period of such Notes for a period not exceeding 20 [10] consecutive quarters quarterly [semi-annual] periods (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond -------- ---- the Maturity 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 2.134.1, will bear interest thereon at the rate of interest specified in the applicable Security Coupon Rate compounded quarterly, quarterly [semi-annually] for each quarter quarterly [semi-annual] period of the Extended Interest Payment Period ("Compounded Interest"). At the end of the Extended Interest Payment Period, the Company shall pay all interest accrued and unpaid on the Notes, including any Additional Interest and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, ) that shall be payable to the Holders of the Notes in whose names the Notes are registered in the Security Register on the first record date after the end of the Extended Interest Payment Period. Before the termination of any Extended Interest Payment 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 [10] consecutive quartersquarterly [semi-annual] periods, or extend beyond the maturity date Maturity Date of the Notes. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 1 contract

Samples: Bank of America Corp /De/

Extension of Interest Payment Period. The Company shall have the right, at any time and from time to time during prior to the term of the NotesMaturity Date, to defer payments of interest by extending extend the interest payment period of such Notes for a period not exceeding 20 up to twenty (20) consecutive quarters (the "Extended Interest Payment PeriodEXTENDED INTEREST PAYMENT PERIOD"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity 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 2.134.1, will bear interest thereon compounded quarterly at the rate of interest specified in the applicable Security compounded quarterly, Coupon Rate for each quarter of the Extended Interest Payment Period ("Compounded InterestCOMPOUNDED INTEREST"). At the end of the Extended Interest Payment Period, the Company shall pay all interest accrued and unpaid on the Notes, including any Compounded Additional Interest (together, "Deferred InterestDEFERRED INTEREST"), together with all other amounts due thereon, that which shall be payable to the Holders of the Notes in whose names the Notes are registered in the Security Register security register maintained by the Registrar on the first record date Regular Record Date after the end of the Extended Interest Payment Period. Before the termination of any 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 NotesMaturity Date. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence select a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 1 contract

Samples: Xl Capital LTD

Extension of Interest Payment Period. The Company shall have the right, at any time and from time to time during prior to the term of the NotesMaturity Date, to defer payments of interest by extending extend the interest payment period of such Notes for a period not exceeding 20 up to twenty (20) consecutive quarters (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity 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 2.134.1, will bear interest thereon compounded quarterly at the rate of interest specified in the applicable Security compounded quarterly, Coupon Rate for each quarter of the Extended Interest Payment Period ("Compounded Interest"). At the end of the Extended Interest Payment Period, the Company shall pay all interest accrued and unpaid on the Notes, including any Compounded Additional Interest (together, "Deferred Interest"), together with all other amounts due thereon, that which shall be payable to the Holders of the Notes in whose names the Notes are registered in the Security Register security register maintained by the Registrar on the first record date Regular Record Date after the end of the Extended Interest Payment Period. Before the termination of any Extended Interest Payment Period, the Company may further extend such period, provided 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 NotesMaturity Date. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence select a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 1 contract

Samples: Fourth Supplemental Indenture (Tele Communications Inc /Co/)

Extension of Interest Payment Period. The Company shall have the right, at any time and from time to time during the term of the Notes, to defer payments of interest by extending the interest payment period of such Notes for a period not exceeding 20 consecutive quarters quarterly periods (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity 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 2.134.1, will bear interest thereon at the rate of interest specified in the applicable Security Coupon Rate compounded quarterly, quarterly for each quarter quarterly period of the Extended Interest Payment Period ("Compounded Interest"). At the end of the Extended Interest Payment Period, the Company shall pay all interest accrued and unpaid on the Notes, including any Additional Interest and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, ) that shall be payable to the Holders of the Notes in whose names the Notes are registered in the Security Register on the first record date after the end of the Extended Interest Payment Period. Before the termination of any Extended Interest Payment 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 maturity date Maturity Date of the Notes. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 1 contract

Samples: Eighth Supplemental Indenture (Bank of America Corp /De/)

Extension of Interest Payment Period. The Company shall have the right, at any time and from time to time during the term of the Notes, from time to time to defer payments the payment of interest by extending the interest payment period of such Notes for a period not exceeding up to 10 consecutive semiannual periods or 20 consecutive quarters quarters, as applicable, or no more than 5 years in the aggregate (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity DateDate of the Notes. To the extent permitted by applicable law, interest, the payment of which has been deferred because of the extension of the interest payment period pursuant to this Section 2.134.1, will bear interest thereon at the rate of interest specified in the applicable Security Coupon Rate, compounded quarterlysemiannually or quarterly as applicable, for each semiannual period or quarter of the Extended Interest Payment Period ("Compounded Interest"). At the end of the Extended Interest Payment Period, Period the Company shall pay all interest accrued and unpaid on the Notes, Notes including any Additional Interest and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, that ”) which shall be payable to the Holders of the Notes in whose names the Notes are registered in the Security Note Register on the first record date after the end of the Extended Interest Payment Period. Before the termination of any 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 10 consecutive semiannual periods or 20 consecutive quarters, as applicable, or more than 5 years in the aggregate and provided further that no Extended Interest Payment Period may extend beyond the maturity date Maturity Date of the Notes. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence select a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 1 contract

Samples: Eighth Supplemental Indenture (HSBC Finance Capital Trust IX)

Extension of Interest Payment Period. The Company shall have the right, at any time and from time to time during the term of the Notes, 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 Notes for a period not exceeding 20 consecutive quarters (the "Extended Interest Payment PeriodEXTENDED INTEREST PAYMENT PERIOD"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity 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 2.13206, will bear interest thereon at the rate of interest specified in the applicable Security Coupon Rate compounded quarterly, quarterly for each quarter of the Extended Interest Payment Period ("Compounded InterestCOMPOUNDED INTEREST"). At the end of the Extended Interest Payment Period, the Company shall pay all interest accrued and unpaid on the Notes, including any Additional Interest and Compounded Interest (together, "Deferred InterestDEFERRED INTEREST"), together with all other amounts due thereon, ) that shall be payable to the Holders of the Notes in whose names the Notes are registered in the Security Register on the first record date after the end of the Extended Interest Payment Period. Before the termination of any 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, quarters or extend beyond the maturity date of the NotesMaturity Date. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except (i) at the end thereofthereof and (ii) upon a redemption of the Notes during an Extended Interest Payment Period, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

Appears in 1 contract

Samples: Indenture (Teco Capital Trust Iii)

Extension of Interest Payment Period. The Subject to Section 3.13 of the Indenture, the Company shall have the right, at any time and from time to time during the term of the NotesDebentures, to defer payments of interest by extending the interest payment period of such Notes Debentures for a period an Extension Period not exceeding 20 [20] consecutive quarters (the "Extended Interest Payment Period")quarters, during which Extended Interest Payment Extension Period no interest shall be due and payable; provided -------- that no Extended Extension Period may end on a date other than an Interest Payment Period may Date ---- or extend beyond the Maturity 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 2.134.1, will bear interest thereon at the rate of interest specified in the applicable Security Interest Rate compounded quarterly, quarterly for each quarter of the Extended Interest Payment Extension Period ("Compounded Interest"). At the end of the Extended Interest Payment Extension Period, the Company shall pay all interest accrued and unpaid on the NotesDebentures, including any Additional Sums and Compounded Interest (together, "Deferred Interest"), together with all other amounts due thereon, ) that shall be payable to the Holders of the Notes Debentures in whose names the Notes Debentures are registered in the Security Register on the first record date after relating to the end of the Extended Interest Payment PeriodDate on which the Extension Period ends. Before the termination of any Extended Interest Payment 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 Maturity Date of the NotesDebentures. Upon the termination of any Extended Interest Payment Extension Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Extension Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment 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 Extended Interest Payment Period.

Appears in 1 contract

Samples: Bank One Capital V

Extension of Interest Payment Period. The 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 NotesDebt Securities of any series, to defer payments of interest by extending the interest payment period of such Notes Debt Securities for a period an Extended Interest Period not exceeding 20 consecutive quarters (the "Extended Interest Payment Period")quarters, during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Stated Maturity Date. To for the extent permitted by applicable law, interest, the payment of which has been deferred because principal of the extension Debt Securities of the interest payment period pursuant to this Section 2.13, will bear interest thereon at the rate of interest specified in the applicable Security compounded quarterly, for each quarter of the Extended Interest Payment Period ("Compounded Interest")such series. At the end of the Extended Interest Payment 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 NotesDebt Securities of such series, including any Compounded Additional Payments and Additional Interest (together, "the “Deferred Interest"), together with all other amounts due thereon, Payments”) that shall be payable to the Holders of the Notes in whose names the Notes are registered in the Security Register Registered Securities of such series on the first record date Regular Record Date after the end of the Extended Interest Payment Period. Before the termination of any 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 Maturity Date of the Notessuch Debt Securities. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest Payments then due, the Company may commence a new Extended Interest Payment Period, subject to the foregoing requirements. No interest or Additional Interest shall be due and payable during an Extended Interest Payment 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 Extended Interest Payment Period.

Appears in 1 contract

Samples: Reinsurance Group of America Inc

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