Common use of Fails Clause in Contracts

Fails. If settlement of a Book-Entry Note is rescheduled or cancelled, the Issuer shall notify the Trustee, and upon receipt of such notice, the Trustee will deliver to DTC, through DTC's Participant Terminal System, a cancellation message to such effect by no later than 2:00 p.m., New York City time, on the Business Day immediately preceding the scheduled settlement date.

Fails. If settlement of a Book-Entry Note is rescheduled or cancelled, the Issuer shall notify the TrusteeFiscal Agent, and upon receipt of such notice, the Trustee Fiscal Agent will deliver to DTC, through DTC's ’s Participant Terminal System, a cancellation message to such effect by no later than 2:00 p.m., New York City time, on the Business Day immediately preceding the scheduled settlement dateSettlement Date.