Common use of Issuer’s Option to Effect Defeasance or Covenant Defeasance Clause in Contracts

Issuer’s Option to Effect Defeasance or Covenant Defeasance. The Issuer may, at its option by Board Resolution of the Issuer, at any time, with respect to the Securities, elect to have either Section 1202 or Section 1203 be applied to all Outstanding Securities upon compliance with the conditions set forth below in this Article Twelve.

Issuer’s Option to Effect Defeasance or Covenant Defeasance. The Issuer may, at its option by Board Resolution of the Issuer, at any time, with respect to the Securities, elect to have either Section 1202 11.02 or Section 1203 11.03 be applied to all Outstanding Securities upon compliance with the conditions set forth below in this Article Twelve11.

Issuer’s Option to Effect Defeasance or Covenant Defeasance. The Issuer may, at its option by Board Resolution of the Issuer, at any time, with respect to the Securities, elect to have either Section 1202 1102 or Section 1203 1103 be applied to all Outstanding Securities upon compliance with the conditions set forth below in this Article TwelveEleven.

Issuer’s Option to Effect Defeasance or Covenant Defeasance. The Issuer may, at its option by Board Resolution of the Issuer, at any timetime upon or after the Securities Assumption, with respect to the Securities, elect to have either Section 1202 or Section 1203 be applied to all Outstanding Securities upon compliance with the conditions set forth below in this Article Twelve.

Issuer’s Option to Effect Defeasance or Covenant Defeasance. The Issuer may, may at its option by Board Resolution of the Issueroption, at any time, with respect to the Securities, time elect to have either Section 1202 1302 or Section 1203 be 1303 applied to the Outstanding Securities of any series and all Outstanding of obligations of the Guarantor with respect to the Guarantee of such series of Securities upon compliance with the conditions set forth below in this Article TwelveThirteen.

Issuer’s Option to Effect Defeasance or Covenant Defeasance. The Issuer may, Issuers may at its their option by Board Resolution of the IssuerResolution, at any time, with respect to the Securities, elect to have either Section 1202 or Section 1203 be applied to all the Outstanding Securities upon compliance with the conditions set forth below in this Article Twelve.