Common use of Failure to Comply with Reporting Covenant Clause in Contracts

Failure to Comply with Reporting Covenant. Notwithstanding anything to the contrary in this Indenture, to the extent that the Company elects, the sole remedy for an Event of Default relating to OI Group or OI Inc.’s failure to perform or observe the covenant in Section 4.02(a) will, for the 365 days after the occurrence of such an Event of Default (which will be the 60th day after the written notice is provided to the Company in accordance with Section 6.01(g)), consist exclusively of the right to receive additional interest (the “Reporting Default Additional Interest”) on the Notes at a rate equal to 0.25% per annum of the outstanding principal amount of the Notes outstanding for each day during the 180-day period beginning on, and including, the occurrence of such an Event of Default during which such Event of Default is continuing in such 365 day period, and which such Reporting Default Additional Interest will be increased to 0.50% per annum of the then outstanding aggregate principal amount of the Notes, for the remaining 185 days after such Event of Default is continuing for such 365 day period, provided that the rate at which such Reporting Default Additional Interest accrues may in no event exceed 0.50% per annum. If the Company so elects, such Reporting Default Additional Interest (in addition to any Registration Default Additional Interest) will be payable in arrears in the same manner and on the same Interest Payment Dates as the stated interest payable on the Notes. On the 366th day after the occurrence of such Event of Default (if the Event of Default is not cured or waived prior to such 366th day), such Reporting Default Additional Interest will cease to accrue and the Notes will be subject to acceleration as provided in Section 6.02. The provisions of this Section 6.13 will not affect the rights of Holders in the event of the occurrence of any other Event of Default. In the event the Company does not elect to pay the Reporting Default Additional Interest following an Event of Default in accordance with this Section 6.13, the Notes will be subject to acceleration as provided in Section 6.02. For the avoidance of doubt, in the event Registration Default Additional Interest is also triggered pursuant to Section 4.05, the interest rate applicable to the Notes under such Section 4.05 shall also apply to the Notes. In order to elect to pay the Reporting Default Additional Interest as the sole remedy during the first 365 days after the occurrence of an Event of Default relating to OI Group’s or OI Inc.’s obligations pursuant to Section 4.02(a), the Company must notify the Holders and the Trustee and Paying Agent of such election, and make the notice available on the Company’s website, on or before 5:00 p.m., New York City time, on the fifth Business Day after the date on which such Event of Default otherwise would occur. Upon the Company’s failure to timely give such notice, the Notes will be immediately subject to acceleration as provided in Section 6.02.

Failure to Comply with Reporting Covenant. Notwithstanding anything to the contrary in this Indenture, to the extent that if the Company so elects, the sole remedy for an Event of Default relating to OI Group or OI Inc.’s the failure to perform or observe comply with the covenant reporting obligations in described in Section 4.02(a4.03(a) willhereof , shall, at the Company’s option, for the 365 90 calendar days after the occurrence of such an Event of Default (which will be the 60th day after the written notice is provided to the Company in accordance with Section 6.01(g))Default, consist exclusively of the right to receive additional interest (the “Reporting Default Additional Interest”) Interest on the Notes at a an annual rate equal to 0.250.50% per annum of the outstanding principal amount of the Notes outstanding for each day during (“Reporting Additional Interest”). In the 180-day period beginning on, and including, event the occurrence of such Company does not elect to pay the Reporting Additional Interest upon an Event of Default during which such Event in accordance with this Section 6.12, the Notes shall be subject to acceleration as provided in Section 6.02. Notwithstanding anything to the contrary, in no event shall the aggregate of Default is continuing in such 365 day period, and which such any Reporting Default Additional Interest will be increased to and any Rule 144 Additional Interest for any period exceed 0.50% per annum of the then outstanding aggregate principal amount of the NotesNotes in respect of such period. Reporting Additional Interest shall accrue on all outstanding Notes from and including the date on which an Event of Default relating to a failure to comply with the reporting obligations in this Indenture first occurs to, for but not including, the remaining 185 days after 90th day (or such earlier date on which the Event of Default is cured or waived). On such 90th day if such Event of Default is continuing for such 365 day period, provided that the rate at which such Reporting Default Additional Interest accrues may in no event exceed 0.50% per annum. If the Company so electscontinuing, such Reporting Default Additional Interest (in addition to any Registration Default Additional Interest) will be payable in arrears in the same manner and on the same Interest Payment Dates as the stated interest payable on the Notes. On the 366th day after the occurrence of such Event of Default (if the Event of Default is not cured or waived prior to such 366th day), such Reporting Default Additional Interest will cease to accrue and the Notes will be subject to acceleration as provided in Section 6.026.02 above. The provisions of this This Section 6.13 6.12 will not affect the rights of Holders in the event of the occurrence of any other Event of Default. In the event the Company does not elect to pay the Reporting Default Additional Interest following an Event of Default in accordance with this Section 6.13, the Notes will be subject to acceleration as provided in Section 6.02. For the avoidance of doubt, in the event Registration Default Additional Interest is also triggered pursuant to Section 4.05, the interest rate applicable to the Notes under such Section 4.05 shall also apply to the Notes. In order to elect to pay the Reporting Default Additional Interest as the sole remedy during the first 365 days after the occurrence of an Event of Default relating to OI Group’s or OI Inc.’s obligations pursuant to Section 4.02(a), the Company must notify the Holders and the Trustee and Paying Agent of such election, and make the notice available on the Company’s website, on or before 5:00 p.m., New York City time, on the fifth Business Day after the date on which such Event of Default otherwise would occur. Upon the Company’s failure to timely give such notice, the Notes will be immediately subject to acceleration as provided in Section 6.02.

Failure to Comply with Reporting Covenant. Notwithstanding anything to the contrary in this Indenture, to if the extent that the Company Issuer so elects, the sole remedy for an Event of Default relating to OI Group or OI Inc.’s the failure to perform or observe comply with the covenant reporting obligations in described in Section 4.02(a4.03(a) willhereof, shall, at the Issuer’s option, for the 365 calendar days after the occurrence of such an Event of Default (which will be the 60th day after the written notice is provided to the Company in accordance with Section 6.01(g))Default, consist exclusively of the right to receive additional interest (the “Reporting Default Additional Interest”) Interest on the Notes at a an annual rate equal to 0.25% of the principal amount of the Notes (“Reporting Additional Interest”). Reporting Additional Interest shall be payable in arrears on each Interest Payment Date following accrual in the same manner as regular interest on the Notes. In the event the Issuer does not elect to pay the Reporting Additional Interest upon an Event of Default in accordance with this Section 6.12, the Notes shall be subject to acceleration as provided in Section 6.02. Notwithstanding anything to the contrary, in no event shall the aggregate of any Reporting Additional Interest and any Rule 144 Additional Interest for any period exceed 0.25% per annum of the outstanding principal amount of the Notes outstanding for each day during the 180-day period beginning on, and including, the occurrence in respect of such period, regardless of the number of events or circumstances giving rise to the requirement to pay any such Reporting Additional Interest and any Rule 144 Additional Interest. Reporting Additional Interest shall accrue on all outstanding Notes from and including the date on which an Event of Default during relating to a failure to comply with the reporting obligations in Section 4.03(a) first occurs to, but not including, the 365th day thereafter (or such earlier date on which the Event of Default is cured or waived). On such 365th day if such Event of Default is continuing in such 365 day period, and which such Reporting Default Additional Interest will be increased to 0.50% per annum of the then outstanding aggregate principal amount of the Notes, for the remaining 185 days after such Event of Default is continuing for such 365 day period, provided that the rate at which such Reporting Default Additional Interest accrues may in no event exceed 0.50% per annum. If the Company so electscontinuing, such Reporting Default Additional Interest (in addition to any Registration Default Additional Interest) will be payable in arrears in the same manner and on the same Interest Payment Dates as the stated interest payable on the Notes. On the 366th day after the occurrence of such Event of Default (if the Event of Default is not cured or waived prior to such 366th day), such Reporting Default Additional Interest will cease to accrue and the Notes will be subject to acceleration as provided in Section 6.026.02 above. The provisions of this This Section 6.13 6.12 will not affect the rights of Holders in the event of the occurrence of any other Event of Default. In the event the Company does not elect to pay the Reporting Default Additional Interest following an Event of Default in accordance with this Section 6.13, the Notes will be subject to acceleration as provided in Section 6.02. For the avoidance of doubt, in the event Registration Default Additional Interest is also triggered pursuant to Section 4.05, the interest rate applicable to the Notes under such Section 4.05 shall also apply to the Notes. In order to elect to pay the Reporting Default Additional Interest as the sole remedy during the first 365 days after the occurrence of an Event of Default relating to OI Group’s or OI Inc.’s obligations pursuant to Section 4.02(a), the Company must notify the Holders and the Trustee and Paying Agent of such election, and make the notice available on the Company’s website, on or before 5:00 p.m., New York City time, on the fifth Business Day after the date on which such Event of Default otherwise would occur. Upon the Company’s failure to timely give such notice, the Notes will be immediately subject to acceleration as provided in Section 6.02.

Failure to Comply with Reporting Covenant. Notwithstanding anything to the contrary in this Indenture, to the extent that the Company elects, the sole remedy for an Event of Default relating to OI Group or OI Inc.the Company’s failure to perform or observe the covenant in Section 4.02(a4.03(a) will, shall for the 365 90 days after the occurrence of such an Event of Default (which will be the 60th day after the written notice is provided to the Company in accordance with Section 6.01(g)), consist exclusively of the right to receive additional interest (the “Reporting Default Additional Interest”) on the Notes at a an annual rate equal to 0.25% per annum of the outstanding principal amount of the Notes outstanding for each day during the 180-day period beginning on, and including, the occurrence of such an Event of Default during which such Event of Default is continuing in such 365 day period, and which such Reporting Default Additional Interest will be increased to 0.50% per annum of the then outstanding aggregate principal amount of the Notes, for ; provided that on the remaining 185 days ninety-first (91st) day after the occurrence of such Event of Default is continuing for such 365 day periodDefault, provided that the rate at which such Reporting Default Additional Interest accrues may in no event exceed shall increase to an annual rate equal to 0.50% per annumof the principal amount of the Notes. If the Company so elects, such Reporting Default Additional Interest (in addition to any Registration Default Additional Interest) will shall be payable in arrears in the same manner and on the same Interest Payment Dates as the stated interest payable on the Notes. On Reporting Additional Interest shall accrue on all outstanding Notes from, and including, the 366th day after the occurrence of such date on which an Event of Default relating to a failure by the Company to comply with its obligations pursuant to Section 4.03(a) first occurs to, but not including, the one-hundred eighty-first (if 181st) day thereafter (or such earlier date on which the Event of Default relating to the Company’s obligations pursuant to Section 4.03(a) shall have been cured or waived). On such one-hundred eighty-first (181st) day (or earlier, if an Event of Default relating to the Company’s obligations pursuant to Section 4.03(a) is not cured or waived prior to such 366th one-hundred eighty-first (181st) day), such Reporting Default Additional Interest will shall cease to accrue and the Notes will shall be subject to acceleration as provided in Section 6.02. The provisions of this Section 6.13 will not affect the rights of Holders in the event of the occurrence of any other Event of Default. In the event the Company does not elect to pay the Reporting Default Additional Interest following an 6.02 if such Event of Default in accordance with this Section 6.13, the Notes will be subject to acceleration as provided in Section 6.02is continuing. For the avoidance of doubt, in the event Registration Default Additional Interest is also triggered pursuant to under Section 4.056.03, the interest rate applicable to the Notes under such Section 4.05 section shall also apply to the Notes. In order Notes under this Section 6.13 and shall constitute the exclusive rate of additional interest applicable to elect to pay the Reporting Default Additional Interest as the sole remedy during the first 365 days after the occurrence of an Event of Default relating to OI Group’s or OI Inc.’s obligations pursuant to Section 4.02(a), the Company must notify the Holders and the Trustee and Paying Agent of such election, and make the notice available on the Company’s website, on or before 5:00 p.m., New York City time, on the fifth Business Day after the date on which such Event of Default otherwise would occur. Upon the Company’s failure to timely give such notice, the Notes will be immediately subject to acceleration as provided in Section 6.02under such circumstances.

Failure to Comply with Reporting Covenant. Notwithstanding anything to the contrary in this Indenture, to the extent that if the Company so elects, the sole remedy for an Event of Default relating to OI Group or OI Inc.’s the failure to perform or observe comply with the covenant reporting obligations in described in Section 4.02(a) will4.03 hereof, shall, at the Company’s option, for the 365 90 calendar days after the occurrence of such an Event of Default (which will be the 60th day after the written notice is provided to the Company in accordance with Section 6.01(g))Default, consist exclusively of the right to receive additional interest (the “Reporting Default Additional Interest”) Interest on the Notes at a an annual rate equal to 0.250.50% per annum of the outstanding principal amount of the Notes outstanding for each day during (“Reporting Additional Interest”). In the 180-day period beginning on, and including, event the occurrence of such Company does not elect to pay the Reporting Additional Interest upon an Event of Default during in accordance with this Section 6.12, the Notes shall be subject to acceleration as provided in Section 6.02. This Reporting Additional Interest shall be in addition to any Rule 144 Additional Interest that may accrue as a result of a registration default as described under Section 4.10 hereof and will be payable in the same manner as Rule 144 Additional Interest accruing as a result of such a registration default. Reporting Additional Interest shall accrue on all outstanding Notes from and including the date on which an Event of Default relating to a failure to comply with the reporting obligations in this Indenture first occurs to, but not including, the 90th day (or such earlier date on which the Event of Default is cured or waived). On such 90th day if such Event of Default is continuing in such 365 day period, and which such Reporting Default Additional Interest will be increased to 0.50% per annum of the then outstanding aggregate principal amount of the Notes, for the remaining 185 days after such Event of Default is continuing for such 365 day period, provided that the rate at which such Reporting Default Additional Interest accrues may in no event exceed 0.50% per annum. If the Company so electscontinuing, such Reporting Default Additional Interest (in addition to any Registration Default Additional Interest) will be payable in arrears in the same manner and on the same Interest Payment Dates as the stated interest payable on the Notes. On the 366th day after the occurrence of such Event of Default (if the Event of Default is not cured or waived prior to such 366th day), such Reporting Default Additional Interest will cease to accrue and the Notes will be subject to acceleration as provided in Section 6.026.02 above. The provisions of this This Section 6.13 6.12 will not affect the rights of Holders in the event of the occurrence of any other Event of Default. In the event the Company does not elect to pay the Reporting Default Additional Interest following an Event of Default in accordance with this Section 6.13, the Notes will be subject to acceleration as provided in Section 6.02. For the avoidance of doubt, in the event Registration Default Additional Interest is also triggered pursuant to Section 4.05, the interest rate applicable to the Notes under such Section 4.05 shall also apply to the Notes. In order to elect to pay the Reporting Default Additional Interest as the sole remedy during the first 365 days after the occurrence of an Event of Default relating to OI Group’s or OI Inc.’s obligations pursuant to Section 4.02(a), the Company must notify the Holders and the Trustee and Paying Agent of such election, and make the notice available on the Company’s website, on or before 5:00 p.m., New York City time, on the fifth Business Day after the date on which such Event of Default otherwise would occur. Upon the Company’s failure to timely give such notice, the Notes will be immediately subject to acceleration as provided in Section 6.02.

Failure to Comply with Reporting Covenant. Notwithstanding anything to the contrary in this Indenture, to if the extent that the Company Issuer so elects, the sole remedy for an Event of Default relating to OI Group or OI Inc.’s the failure to perform or observe comply with the covenant reporting obligations in described in Section 4.02(a4.03(a) willhereof, shall, at the Issuer’s option, for the 365 calendar days after the occurrence of such an Event of Default (which will be the 60th day after the written notice is provided to the Company in accordance with Section 6.01(g))Default, consist exclusively of the right to receive additional interest (the “Reporting Default Additional Interest”) Interest on the Notes at a an annual rate equal to 0.25% of the principal amount of the Notes (“Reporting Additional Interest”). Reporting Additional Interest shall be payable in arrears on each Interest Payment Date following accrual in the same manner as regular interest on the Notes. In the event the Issuer does not elect to pay the Reporting Additional Interest upon an Event of Default in accordance with this Section 6.12, the Notes shall be subject to acceleration as provided in Section 6.02. Notwithstanding anything to the contrary, in no event shall the aggregate of any Reporting Additional Interest and any Rule 144 Additional Interest for any period exceed 0.25% per annum of the outstanding principal amount of the Notes outstanding for each day during the 180-day period beginning on, and including, the occurrence in respect of such period, regardless of the number of events or circumstances giving rise to the requirement to pay any such Reporting Additional Interest and any Rule 144 Additional Interest and the payment of such amount shall satisfy any Reporting Additional Interest of Rule 144 Interest then due and payable. Reporting Additional Interest shall accrue on all outstanding Notes from and including the date on which an Event of Default during relating to a failure to comply with the reporting obligations in Section 4.03(a) first occurs to, but not including, the 365th day thereafter (or such earlier date on which the Event of Default is cured or waived). On such 365th day if such Event of Default is continuing in such 365 day period, and which such Reporting Default Additional Interest will be increased to 0.50% per annum of the then outstanding aggregate principal amount of the Notes, for the remaining 185 days after such Event of Default is continuing for such 365 day period, provided that the rate at which such Reporting Default Additional Interest accrues may in no event exceed 0.50% per annum. If the Company so electscontinuing, such Reporting Default Additional Interest (in addition to any Registration Default Additional Interest) will be payable in arrears in the same manner and on the same Interest Payment Dates as the stated interest payable on the Notes. On the 366th day after the occurrence of such Event of Default (if the Event of Default is not cured or waived prior to such 366th day), such Reporting Default Additional Interest will cease to accrue and the Notes will be subject to acceleration as provided in Section 6.026.02 above. The provisions of this This Section 6.13 6.12 will not affect the rights of Holders in the event of the occurrence of any other Event of Default. In the event the Company does not elect to pay the Reporting Default Additional Interest following an Event of Default in accordance with this Section 6.13, the Notes will be subject to acceleration as provided in Section 6.02. For the avoidance of doubt, in the event Registration Default Additional Interest is also triggered pursuant to Section 4.05, the interest rate applicable to the Notes under such Section 4.05 shall also apply to the Notes. In order to elect to pay the Reporting Default Additional Interest as the sole remedy during the first 365 days after the occurrence of an Event of Default relating to OI Group’s or OI Inc.’s obligations pursuant to Section 4.02(a), the Company must notify the Holders and the Trustee and Paying Agent of such election, and make the notice available on the Company’s website, on or before 5:00 p.m., New York City time, on the fifth Business Day after the date on which such Event of Default otherwise would occur. Upon the Company’s failure to timely give such notice, the Notes will be immediately subject to acceleration as provided in Section 6.02.

Failure to Comply with Reporting Covenant. Notwithstanding anything to the contrary in this Indenture, to if the extent that the Company Issuer so elects, the sole remedy for an Event of Default relating to OI Group or OI Inc.’s the failure to perform or observe comply with the covenant reporting obligations in described in Section 4.02(a4.03(a) willhereof , shall, at the Issuer’s option, for the 365 calendar days after the occurrence of such an Event of Default (which will be the 60th day after the written notice is provided to the Company in accordance with Section 6.01(g))Default, consist exclusively of the right to receive additional interest (the “Reporting Default Additional Interest”) Interest on the Notes at a an annual rate equal to 0.25% per annum of the outstanding principal amount of the Notes outstanding for (“Reporting Additional Interest”). Reporting Additional Interest shall be additional to any Rule 144 Additional Interest and shall be payable in arrears on each day during Interest Payment Date following accrual in the 180-day period beginning on, and including, same manner as regular interest on the occurrence of such Notes. In the event the Issuer does not elect to pay the Reporting Additional Interest upon an Event of Default during which such Event in accordance with this Section 6.12, the Notes shall be subject to acceleration as provided in Section 6.02. Notwithstanding anything to the contrary, in no event shall the aggregate of Default is continuing in such 365 day period, and which such any Reporting Default Additional Interest will be increased to and any Rule 144 Additional Interest for any period exceed 0.50% per annum of the then outstanding aggregate principal amount of the NotesNotes in respect of such period, for regardless of the remaining 185 days after number of events or circumstances giving rise to the requirement to pay any such Reporting Additional Interest and any Rule 144 Additional Interest. Reporting Additional Interest shall accrue on all outstanding Notes from and including the date on which an Event of Default relating to a failure to comply with the reporting obligations in this Indenture first occurs to, but not including, the 365th day (or such earlier date on which the Event of Default is cured or waived). On such 365th day if such Event of Default is continuing for such 365 day period, provided that the rate at which such Reporting Default Additional Interest accrues may in no event exceed 0.50% per annum. If the Company so electscontinuing, such Reporting Default Additional Interest (in addition to any Registration Default Additional Interest) will be payable in arrears in the same manner and on the same Interest Payment Dates as the stated interest payable on the Notes. On the 366th day after the occurrence of such Event of Default (if the Event of Default is not cured or waived prior to such 366th day), such Reporting Default Additional Interest will cease to accrue and the Notes will be subject to acceleration as provided in Section 6.026.02 above. The provisions of this This Section 6.13 6.12 will not affect the rights of Holders in the event of the occurrence of any other Event of Default. In the event the Company does not elect to pay the Reporting Default Additional Interest following an Event of Default in accordance with this Section 6.13, the Notes will be subject to acceleration as provided in Section 6.02. For the avoidance of doubt, in the event Registration Default Additional Interest is also triggered pursuant to Section 4.05, the interest rate applicable to the Notes under such Section 4.05 shall also apply to the Notes. In order to elect to pay the Reporting Default Additional Interest as the sole remedy during the first 365 days after the occurrence of an Event of Default relating to OI Group’s or OI Inc.’s obligations pursuant to Section 4.02(a), the Company must notify the Holders and the Trustee and Paying Agent of such election, and make the notice available on the Company’s website, on or before 5:00 p.m., New York City time, on the fifth Business Day after the date on which such Event of Default otherwise would occur. Upon the Company’s failure to timely give such notice, the Notes will be immediately subject to acceleration as provided in Section 6.02.

Failure to Comply with Reporting Covenant. Notwithstanding anything to the contrary in this Indenture, to the extent that if the Company so elects, the sole remedy for an Event of Default relating to OI Group or OI Inc.’s the failure to perform or observe comply with the covenant reporting obligations in described in Section 4.02(a4.03(a) willhereof , shall, at the Company’s option, for the 365 90 calendar days after the occurrence of such an Event of Default (which will be the 60th day after the written notice is provided to the Company in accordance with Section 6.01(g))Default, consist exclusively of the right to receive additional interest (the “Reporting Default Additional Interest”) Interest on the Notes at a an annual rate equal to 0.250.50% of the principal amount of the Notes (“Reporting Additional Interest”). In the event the Company does not elect to pay the Reporting Additional Interest upon an Event of Default in accordance with this Section 6.12, the Notes shall be subject to acceleration as provided in Section 6.02. Notwithstanding anything to the contrary, in no event shall the aggregate of any Reporting Additional Interest and any Rule 144 Additional Interest for any period exceed 0.50% per annum of the outstanding principal amount of the Notes outstanding for each day during the 180-day period beginning on, and including, the occurrence in respect of such period. Reporting Additional Interest shall accrue on all outstanding Notes from and including the date on which an Event of Default during relating to a failure to comply with the reporting obligations in this Indenture first occurs to, but not including, the 90th day (or such earlier date on which the Event of Default is cured or waived). On such 90th day if such Event of Default is continuing in such 365 day period, and which such Reporting Default Additional Interest will be increased to 0.50% per annum of the then outstanding aggregate principal amount of the Notes, for the remaining 185 days after such Event of Default is continuing for such 365 day period, provided that the rate at which such Reporting Default Additional Interest accrues may in no event exceed 0.50% per annum. If the Company so electscontinuing, such Reporting Default Additional Interest (in addition to any Registration Default Additional Interest) will be payable in arrears in the same manner and on the same Interest Payment Dates as the stated interest payable on the Notes. On the 366th day after the occurrence of such Event of Default (if the Event of Default is not cured or waived prior to such 366th day), such Reporting Default Additional Interest will cease to accrue and the Notes will be subject to acceleration as provided in Section 6.026.02 above. The provisions of this This Section 6.13 6.12 will not affect the rights of Holders in the event of the occurrence of any other Event of Default. In the event the Company does not elect to pay the Reporting Default Additional Interest following an Event of Default in accordance with this Section 6.13, the Notes will be subject to acceleration as provided in Section 6.02. For the avoidance of doubt, in the event Registration Default Additional Interest is also triggered pursuant to Section 4.05, the interest rate applicable to the Notes under such Section 4.05 shall also apply to the Notes. In order to elect to pay the Reporting Default Additional Interest as the sole remedy during the first 365 days after the occurrence of an Event of Default relating to OI Group’s or OI Inc.’s obligations pursuant to Section 4.02(a), the Company must notify the Holders and the Trustee and Paying Agent of such election, and make the notice available on the Company’s website, on or before 5:00 p.m., New York City time, on the fifth Business Day after the date on which such Event of Default otherwise would occur. Upon the Company’s failure to timely give such notice, the Notes will be immediately subject to acceleration as provided in Section 6.02.

Failure to Comply with Reporting Covenant. Notwithstanding anything to the contrary in this the Indenture, to at the extent that the Company electsCompany’s election, the sole remedy for an Event of Default relating to OI Group or OI Inc.the Company’s failure to perform or observe the covenant in comply with Section 4.02(a4.01(a) willshall, for the 365 210 days after the occurrence of such an Event of Default (which will be the 60th day after the written notice is provided to the Company in accordance with Section 6.01(g))Default, consist exclusively of the right to receive additional interest (the “Reporting Default Additional Interest”) on the Notes at a an annual rate equal to (i) 0.25% per annum of the outstanding principal amount of the Notes outstanding for each day during the 180first one-day period beginning on, and including, hundred twenty (120) days following the occurrence of such an Event of Default during which and (ii) 0.50% of the principal amount of the Notes for the next ninety (90) days after the one-hundred twenty (120) days following the occurrence of such Event of Default is continuing in such 365 day period, and which such Reporting Default Default. Additional Interest will be increased to 0.50% per annum of the then outstanding aggregate principal amount of the Notes, for the remaining 185 days after such Event of Default is continuing for such 365 day period, provided that the rate at which such Reporting Default Additional Interest accrues may in no event exceed 0.50% per annum. If the Company so elects, such Reporting Default Additional Interest (in addition to any Registration Default Additional Interest) will be payable in arrears in the same manner and on the same Interest Payment Dates as the stated interest payable on the Notes. On If the 366th day after Company so elects, Additional Interest will accrue on all outstanding Notes from, and including, the occurrence of such date on which an Event of Default relating to a failure by the Company to comply with Section 4.01(a) first occurs to, but not including, the two-hundred tenth (if 210th) day thereafter (or such earlier date on which the Event of Default relating to the Company’s obligations pursuant to Section 4.01(a) shall have been cured or waived). On such two-hundred tenth (210th) day (or earlier, if an Event of Default relating to the Company’s obligations pursuant to Section 4.01(a) is not cured or waived prior to such 366th two-hundred tenth (210th) day), such Reporting Default Additional Interest will shall cease to accrue and the Notes will be subject to acceleration as provided in Section 6.026.02 if such Event of Default is continuing. The provisions of described in this Section 6.13 will paragraph shall not affect the rights of the Holders of Notes in the event of the an occurrence of any other Event of Default. In the event the Company does not elect to pay the Reporting Default Additional Interest following an Event of Default in accordance with this Section 6.13, the Notes will be subject to acceleration as provided in Section 6.02. For the avoidance of doubt, in the event Registration Default Additional Interest is also triggered pursuant to Section 4.05, the interest rate applicable to the Notes under such Section 4.05 shall also apply to the Notes. In order to elect to pay the Reporting Default Additional Interest as the sole remedy during the first 365 210 days after the occurrence of an Event of Default relating to OI Groupthe Company’s or OI Inc.’s obligations pursuant failure to comply with Section 4.02(a4.01(a), the Company must notify the Holders all Noteholders and the Trustee and Paying Agent of such election, and make the notice available on the Company’s website, election on or before 5:00 p.m., New York City time, the close of business on the fifth Business Day after the date on which such Event of Default otherwise would occur. Upon occurs, which shall be the Company’s failure to timely give such notice, sixtieth (60th) day after receipt by the Notes will be immediately subject to acceleration as provided Company of the written notice specified in Section 6.026.01.

Failure to Comply with Reporting Covenant. Notwithstanding anything to the contrary in this Indenture, to the extent that the Company elects, the sole remedy for an Event of Default relating to OI Group or OI Inc.the Guarantor’s failure to perform or observe the covenant in Section 4.02(a) will, will for the 365 364 days after the occurrence of such an Event of Default (which will be the 60th day after the written notice is provided to the Company in accordance with Section 6.01(g)), consist exclusively of the right to receive additional interest (the “Reporting Default Additional Interest”) on the Notes at a rate equal to 0.25% per annum of the outstanding principal amount of the Notes outstanding for each day during the 180-day period beginning on, and including, the occurrence of such an Event of Default during which such Event of Default is continuing in such 365 day periodcontinuing, and which such Reporting Default Additional Interest will be increased to 0.50by an additional 0.25% per annum of annum, on the then outstanding aggregate principal amount of the Notes, for the remaining 185 days 181st day after such Event of Default (if the Event of Default relating to a failure by the Guarantor to comply with its obligations pursuant to Section 4.02(a) is continuing for not cured or waived prior to such 365 day period180th day), provided that the rate at which such Reporting Default Additional Interest accrues may in no event exceed 0.50% per annum. If the Company so elects, such Reporting Default Additional Interest (in addition to any Registration Default Additional Interest) will be payable in arrears in the same manner and on the same Interest Payment Dates as the stated interest payable on the Notes. On the 366th 365th day after the occurrence of such Event of Default (if the Event of Default relating to a failure by the Guarantor to comply with its obligations pursuant to Section 4.02(a) reporting obligations is not cured or waived prior to such 366th 365th day), such Reporting Default Additional Interest will cease to accrue and the Notes will be subject to acceleration as provided in Section 6.02. The provisions of this Section 6.13 will not affect the rights of Holders in the event of the occurrence of any other Event of Default. In the event the Company does not elect to pay the Reporting Default Additional Interest following an Event of Default in accordance with this Section 6.13, the Notes will be subject to acceleration as provided in Section 6.02. For the avoidance of doubt, in the event Registration Default Additional Interest is also triggered pursuant to Section 4.054.04, the interest rate applicable to the Notes under such Section 4.05 4.04 shall also apply to the NotesNotes pursuant to this Section 6.13 and shall constitute the exclusive rate of additional interest applicable to the Notes under such circumstances. In order to elect to pay the Reporting Default Additional Interest as the sole remedy during the first 365 364 days after the occurrence of an Event of Default relating to OI Group’s or OI Inc.the Guarantor’s obligations pursuant to Section 4.02(a), the Company must notify the all Holders and the Trustee and Paying Agent of such election, and make election prior to the notice available on the Company’s website, on or before 5:00 p.m., New York City time, on the fifth Business Day after the date on which beginning of such Event of Default otherwise would occur364-day period. Upon the Company’s failure to timely give such notice, the Notes will be immediately subject to acceleration as provided in Section 6.02.