Common use of Notice of Extension Clause in Contracts

Notice of Extension. (a) If the Property Trustee is the only holder of the Securities at the time the Corporation elects to commence an Extended Interest Payment Period, the Corporation shall give written notice to the Administrative Trustees, the Property Trustee and the Debenture Trustee of its election to commence such Extended Interest Payment Period at least five Business Days before the earlier of (i) the next succeeding date on which Distributions on the Trust Securities would have been payable, and (ii) the date the Property Trustee is required to give notice of the record date, or the date such Distributions are payable, to any national securities exchange or to holders of the Capital Securities, but in any event at least five Business Days before such record date.

Appears in 9 contracts

Samples: Indenture (Hamilton Capital Trust I), Indenture (Hamilton Capital Trust I), Indenture (Haven Bancorp Inc)

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Notice of Extension. (a) If the Property Trustee is the only holder of the Securities at the time the Corporation elects to commence an Extended Interest Payment Period, the Corporation shall give written notice to the Administrative Trustees, the Property Trustee and the Debenture Trustee of its election to commence such Extended Interest Payment Period at least five Business Days before the earlier of (i) the next succeeding date on which Distributions on the Trust Securities would have been payable, and or (ii) the date the Property Trustee is required to give notice of the record date, or the date such Distributions are payable, to any national securities exchange or to holders of the Capital Securities, but in any event at least five Business Days before such record date.

Appears in 2 contracts

Samples: Indenture (Reliance Capital Trust I), Indenture (Telebanc Capital Trust I)

Notice of Extension. (a) If the Property Trustee is the only registered holder of the Securities at the time the Corporation elects to commence selects an Extended Interest Payment Period, the Corporation shall give written notice to the Administrative Trustees, the Property Trustee and the Debenture Trustee of its election to commence selection of such Extended Interest Payment Period at least five Business Days before the earlier of (i) the next succeeding date on which Distributions on the Trust Securities would have been payable, and or (ii) the date the Property Trustee is required to give notice of the record date, or the date such Distributions are payable, to any national securities exchange or to holders of the Capital Securities, but in any event at least five Business Days before such record date.

Appears in 1 contract

Samples: Indenture (Banknorth Capital Trust I)

Notice of Extension. (a) If the Property Trustee is the only registered holder of the Securities at the time the Corporation elects to commence selects an Extended Interest Payment Period, the Corporation shall give written notice to the Administrative Trustees, the Property Trustee and the Debenture Trustee of its election to commence selection of such Extended Interest Payment Period at least five Business Days before the earlier of (i) the next succeeding date on which Distributions on the Trust Securities would have been issued by the Trust are payable, and or (ii) the date the Property Trustee Trust is required to give notice of the record date, or the date such Distributions are payable, to any national securities exchange or to holders of the Capital SecuritiesSecurities issued by the Trust, but in any event at least five Business Days before such record date.

Appears in 1 contract

Samples: Indenture (Webster Capital Trust Ii)

Notice of Extension. (a) If the Property Trustee is the only registered holder of the Securities at the time the Corporation elects to commence Company selects an Extended Interest Payment Period, the Corporation Company shall give written notice to the Administrative Trustees, the Property Trustee and the Debenture Trustee of its election to commence selection of such Extended Interest Payment Period at least five Business Days before the earlier of (i) the next succeeding date on which Distributions on the Trust Securities would have been issued by SAFECO Trust are payable, and or (ii) the date the Property Trustee SAFECO Trust is required to give notice of the record date, or the date such Distributions are payable, to any national securities exchange or to holders of the Capital SecuritiesSecurities issued by SAFECO Trust, but in any event at least five Business Days before such record date.

Appears in 1 contract

Samples: Indenture (Safeco Corp)

Notice of Extension. (a) If the Property Trustee is the only registered holder of the Securities at the time the Corporation elects to commence selects an Extended Interest Payment Period, the Corporation shall give written notice to the Administrative Trustees, the Property Trustee and the Debenture Trustee of its election to commence selection of such Extended Interest Payment Period at least five Business Days before the earlier of (i) the next succeeding date on which Distributions on the Trust Securities would have been issued by First Commonwealth Capital Trust are payable, and or (ii) the date the Property Trustee First Commonwealth Capital Trust is required to give notice of the record date, or the date such Distributions are payable, to any national securities exchange or to holders of the Capital SecuritiesSecurities issued by First Commonwealth Capital Trust, but in any event at least five Business Days before such record date.

Appears in 1 contract

Samples: Indenture (First Commonwealth Financial Corp /Pa/)

Notice of Extension. (a) If the Property Trustee is the only holder of the Securities at the time the Corporation elects to commence an Extended Interest Payment Period, the Corporation shall give written notice to the Administrative Trustees, the Property Trustee and the Debenture Trustee of its election to commence such Extended Interest Payment Period at least five Business Days before the earlier of (i) the next succeeding date on which Distributions on the Trust Securities would have been payable, and (ii) the date the Property Trustee is required to give notice of the record date, or the date such Distributions are payable, to any national securities exchange or automated quotation system or to holders of the Capital Preferred Securities, but in any event at least five Business Days before such record date.

Appears in 1 contract

Samples: Indenture (Valley National Bancorp)

Notice of Extension. (a) If the Property Trustee is the only holder of the Securities at the time the Corporation elects to commence an Extended Interest Payment Period, the Corporation shall give written notice to the Administrative Trustees, the Property Trustee and the Debenture Trustee of its election to commence such Extended Interest Payment Period at least five Business Days before the earlier of -63- 71 (i) the next succeeding date on which Distributions on the Trust Securities would have been payable, and (ii) the date the Property Trustee is required to give notice of the record date, or the date such Distributions are payable, to any national securities exchange or to holders of the Capital Securities, but in any event at least five Business Days before such record date.

Appears in 1 contract

Samples: BFD Preferred Capital Trust Ii

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Notice of Extension. (a) If the Property Trustee is the only registered holder of the Securities at the time the Corporation elects to commence selects an Extended Interest Payment Period, the Corporation shall give written notice to the Administrative Trustees, the Property Trustee and the Debenture Trustee of its election to commence selection of such Extended Interest Payment Period at least five Business Days before the earlier of (i) the next succeeding date on which Distributions on the Trust Securities would have been issued by Peoples Heritage Capital Trust are payable, and or (ii) the date the Property Trustee Peoples Heritage Capital Trust is required to give notice of the record date, or the date such Distributions are payable, to any national securities exchange or to holders of the Capital SecuritiesSecurities issued by Peoples Heritage Capital Trust, but in any event at least five Business Days before such record date.

Appears in 1 contract

Samples: Peoples Heritage Financial Group Inc

Notice of Extension. (a) If the Property Trustee is the only registered holder of the Securities at the time the Corporation elects to commence Company selects an Extended Interest Payment Period, the Corporation Company shall give written notice to the Administrative Trustees, the Property Trustee and the Debenture Trustee of its election to commence selec- tion of such Extended Interest Payment Period at least five Business Days before the earlier of (i) the next succeeding date on which Distributions distributions on the Trust Securities would have been issued by BankBoston Capital Trust are payable, and or (ii) the date the Property Trustee Trust is required to give notice of the record date, or the date such Distributions are payable, to any national securities exchange or to holders of the Capital SecuritiesSecurities issued by the Trust, but in any event at least five Business Days before such record date.

Appears in 1 contract

Samples: Indenture (Bank of Boston Corp)

Notice of Extension. (a) If the Property Trustee is the only registered holder of the Securities at the time the Corporation elects to commence Company selects an Extended Interest Payment Period, the Corporation Company shall give written notice to the Administrative Trustees, the Property Trustee and the Debenture Trustee of its election to commence selection of such Extended Interest Payment Period at least five Business Days before the earlier of (i) the next succeeding date on which Distributions on the Trust Securities would have been issued by AFC Capital Trust are payable, and or (ii) the date the Property Trustee AFC Capital Trust is required to give notice of the record date, or the date such Distributions are payable, to any national securities exchange or to holders of the Capital SecuritiesSecurities issued by AFC Capital Trust, but in any event at least five Business Days before such record date.

Appears in 1 contract

Samples: Indenture (Allmerica Financial Corp)

Notice of Extension. (a) If the Property Trustee is the only registered holder of the Securities at the time the Corporation elects to commence Company selects an Extended Interest Payment Period, the Corporation Company shall give written notice to the Administrative Trustees, the Property Trustee and the Debenture Trustee of its election to commence selection of such Extended Interest Payment Period at least five Business Days before the earlier of (i) the next succeeding date on which Distributions on the Trust Securities would have been issued by UNB Capital Trust are payable, and or (ii) the date the Property Trustee UNB Capital Trust is required to give notice of the record date, or the date such Distributions are payable, to any national securities exchange or to holders of the Capital SecuritiesSecurities issued by UNB Capital Trust, but in any event at least five Business Days before such record date.

Appears in 1 contract

Samples: United National Bancorp (United National Bancorp)

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