Common use of Global Senior Notes Clause in Contracts

Global Senior Notes. Senior Notes that have been released from the Collateral Account (as defined in the Pledge Agreement) will be issued in permanent global form (a "GLOBAL SENIOR NOTE"), and if issued as one or more Global Senior Notes, the Depositary shall be The Depository Trust Company or such other depositary as any officer of the Company may from time to time designate. Unless and until such Global Senior Note is exchanged for Senior Notes in certificated form, Global Senior Notes may be transferred, in whole but not in part, and any payments on the Senior Notes shall be made, only to the Depositary or a nominee of the Depositary, or to a successor Depositary selected or approved by the Company or to a nominee of such successor Depositary.