Common use of Interest Payments; Rights to Interest Preserved Clause in Contracts

Interest Payments; Rights to Interest Preserved. An interest payment on any Senior Note which is paid on any Payment Date shall, subject to receipt thereof by the Purchase Contract Agent from the Collateral Agent as provided by the terms of the Pledge Agreement, be paid to the Person in whose name the Corporate Unit Certificate (or one or more Predecessor Corporate Unit Certificates) of which such Senior Note is a part is registered at the close of business on the Record Date for such Payment Date. Each Corporate Unit Certificate evidencing the Senior Note delivered under this Agreement upon registration of transfer of or in exchange for or in lieu of any other Corporate Unit Certificate shall carry the right to accrued and unpaid interest, and the right to accrue interest, which rights were carried by the Senior Note underlying such other Corporate Unit Certificate. In the case of any Corporate Unit with respect to which Cash Settlement of the underlying Purchase Contract is effected on or prior to the fifth Business Day immediately preceding the Purchase Contract Settlement Date pursuant to prior notice, or with respect to which Early Settlement of the underlying Purchase Contract is effected on an Early Settlement Date, or with respect to which a Collateral Substitution is effected, in each case on a date that is after any Record Date and on or prior to the next succeeding Payment Date, the interest payment on the Senior Note underlying such Corporate Unit otherwise payable on such Payment Date shall be payable on such Payment Date notwithstanding such Cash Settlement or Early Settlement or Collateral Substitution, and such interest payment shall, subject to receipt thereof by the Purchase Contract Agent, be payable to the Person in whose name the Corporate Unit Certificate (or one or more Predecessor Corporate Unit Certificates) was registered at the close of business on the Record Date. Except as otherwise expressly provided in the immediately preceding sentence, in the case of any Corporate Unit with respect to which Cash Settlement or Early Settlement of the underlying Purchase Contract is effected on or prior to the fifth Business Day immediately preceding the Purchase Contract Settlement Date or on an Early Settlement Date, as the case may be, or with respect to which a Collateral Substitution has been effected, interest payments on the related Senior Notes that would otherwise be payable after the Purchase Contract Settlement Date, Early Settlement Date or Collateral Substitution shall not be payable hereunder to the Holder of such Corporate Unit; provided, however, that to the extent that such Holder continues to hold the separated Senior Note that formerly comprised a part of such Holder's Corporate Unit, such Holder shall be entitled to receive the interest payments on such separated Senior Note, as provided in the Supplemental Indenture.