Common use of Final Repayment Date Clause in Contracts

Final Repayment Date. The principal of, and all accrued and unpaid interest on, all outstanding LoTSSM will be due and payable on the Final Repayment Date, regardless of the amount of Qualifying Capital Securities or Qualifying APM Securities the Company may have issued and sold by that time. Initially, the Final Repayment Date will be March 1, 2067. The Company may elect to extend the initial Final Repayment Date up to two times in ten-year increments on either or both of March 15, 2017 and March 15, 2027 (each such date, an “Extension Date”), and as a result the Final Repayment Date may be extended to ▇▇▇▇▇ ▇, ▇▇▇▇ (▇▇ the election is made on only one Extension Date) or ▇▇▇▇▇ ▇, ▇▇▇▇ (▇▇ the election is made on both Extension Dates), if all the following criteria are satisfied: (i) On the applicable Extension Date the LoTSSM are rated at least Baa3 by ▇▇▇▇▇’▇ Investor Services or BBB- by either of Standard & Poor’s Ratings Services, a division of McGraw Hill, Inc., or Fitch Ratings or, if any of ▇▇▇▇▇’▇ Investor Services, Standard & Poor’s Ratings Services and Fitch Ratings (or their respective successors) is no longer in existence, the equivalent rating by any other nationally recognized statistical rating organization within the meaning of 15c3-1 under the Exchange Act of 1934, as amended. (ii) During the three years prior to the applicable Extension Date: (A) no event of default has occurred or is occurring in respect of any payment obligation on, or financial covenant in, any of the Company’s then outstanding debt for money borrowed having an aggregate principal amount of $100 million or greater; and (B) the Company did not have (and does not currently have) any outstanding deferred payments under any of its then outstanding Preferred Stock or debt for money borrowed. From and after the applicable Extension Date the Final Repayment Date will be the Final Repayment Date as so extended, provided that if any date that would be the Final Repayment Date as determined pursuant to this Section 2.2(b) is not a Business Day, the Final Repayment Date will be the next following Business Day.

Final Repayment Date. The principal of, and all accrued and unpaid interest on, all outstanding LoTSSM will be due and payable on the Final Repayment Date, regardless of the amount of Qualifying Capital Securities or Qualifying APM Securities the Company may have issued and sold by that time. Initially, the Final Repayment Date will be March December 1, 2067. The Company may elect to extend the initial Final Repayment Date up to two times in ten-year increments on either or both of March December 15, 2017 and March December 15, 2027 (each such date, an “Extension Date”), and as a result the Final Repayment Date may be extended to ▇▇▇▇▇ ▇December 1, ▇▇▇▇ 2077 (▇▇ if the election is made on only one Extension Date) or ▇▇▇▇▇ ▇December 1, ▇▇▇▇ 2087 (▇▇ if the election is made on both Extension Dates), if all the following criteria are satisfied: (i) On the applicable Extension Date the LoTSSM are rated at least Baa3 by ▇▇▇▇▇’▇ Investor Services Investors Service, Inc. or BBB- by either of Standard & Poor’s Ratings Services, a division of McGraw Hill, Inc., or Fitch Ratings or, if any of ▇▇▇▇▇’▇ Investor ServicesInvestors Service, Inc., Standard & Poor’s Ratings Services and Fitch Ratings (or their respective successors) is no longer in existence, the equivalent rating by any other nationally recognized statistical rating organization within the meaning of 15c3-1 under Section 3(a)(62) of the Securities Exchange Act of 1934, as amended. (ii) During the three years prior to the applicable Extension Date: (A) no event of default has occurred or is occurring in respect of any payment obligation on, or financial covenant in, any of the Company’s then outstanding debt for money borrowed having an aggregate principal amount of $100 million or greater; and (B) the Company did not have (and does not currently have) any outstanding deferred payments under any of its then outstanding Preferred Stock or debt for money borrowed. From and after the applicable Extension Date the Final Repayment Date will be the Final Repayment Date as so extended, provided that if any date that would be the Final Repayment Date as determined pursuant to this Section 2.2(b) is not a Business Day, the Final Repayment Date will be the next following Business Day.

Final Repayment Date. The principal of, and all accrued and unpaid interest on, all outstanding LoTSSM will JSNs shall be due and payable on the Final Repayment Date, regardless of the amount of Qualifying Capital Securities or Qualifying APM Securities the Company may have issued and sold by that time. Initially, the Final Repayment Date will be March December 1, 20672066. The Company may elect to extend the initial Final Repayment Date up to two times in ten-year increments on either or both of March December 15, 2017 2016 and March December 15, 2027 2026 (each such date, an “Extension Date”), and as a result the Final Repayment Date may be extended to ▇▇▇▇▇ ▇December 1, ▇▇▇▇ 2076 (▇▇ if the election is made on only one Extension Date) or ▇▇▇▇▇ ▇December 1, ▇▇▇▇ 2086 (▇▇ if the election is made on both Extension Dates), if all the following criteria are satisfied: (i) On the applicable Extension Date the LoTSSM JSNs are rated at least Baa3 assigned an investment grade rating by either ▇▇▇▇▇’▇ Investor Services or BBB- by either of Standard & Poor’s Ratings Services, a division of McGraw Hill, Inc., or Fitch Ratings or, if any neither of ▇▇▇▇▇’▇ Investor Services, Standard & Poor’s Ratings Services and Fitch Ratings (those rating agencies or their respective successors) is no longer successors are then in existence, an equivalent rating, as determined by the equivalent rating Company in its sole discretion, by any other nationally recognized statistical rating organization within the meaning of 15c3-1 1(c)(2)(vi)(F) under the Exchange Act of 1934, as amended.Act; (ii) During From and including the date that is three years prior to the applicable Extension Date to but excluding the Extension Date: , (Ax) no event of default has occurred or is occurring in respect of any payment obligation on, or financial covenant in, any of the Company’s then outstanding debt for money borrowed having an aggregate principal amount of $100 million or greater; and borrowed, and (By) the Company did not have (and does not currently have) any outstanding deferred payments under any of its then outstanding Preferred Stock or debt for money borrowed; and (iii) On the applicable Extension Date the Company delivered a written certification to the Trustee dated as of such date stating that on the applicable Extension Date (x) the Company believes that the likelihood that the Company will elect to defer interest on the JSNs is remote, (y) the Company expects to make all required payments on the JSNs in accordance with their terms, and (z) the Company expects to be able to satisfy its obligations under the Replacement Capital Covenant. From and after the applicable Extension Date the Final Repayment Date will be the Final Repayment Date as so extended, provided that if any date that would be the Final Repayment Date as determined pursuant to this Section 2.2(b) is not a Business Day, the Final Repayment Date will shall be the next following Business Day.