Common use of Payments of Interest Only Clause in Contracts

Payments of Interest Only. Promptly after each Regular Record Date, the Trustee will deliver to the Company and DTC a written notice specifying by CUSIP number the amount of interest (if then ascertainable) to be paid on each Global Note on the following Interest Payment Date (other than an Interest Payment Date coinciding with the Maturity Date) and the total of such amounts. DTC will confirm the amount payable on each Global Note on such Interest Payment Date by reference to the daily bond reports published by Standard & Poor’s Corporation. On such Interest Payment Date, the Company will pay to the Trustee in immediately available funds an amount sufficient to pay the interest then due and owing, and upon receipt of such funds from the Company, the Trustee in turn will pay to DTC such total amount of interest due (other than on the Maturity Date), at the times and in the manner set forth below under “Manner of Payment”.

Appears in 3 contracts

Samples: Distribution Agreement (Prudential Financial Inc), Terms Agreement (Prudential Financial Capital Trust Iii), Distribution Agreement (Prudential Financial Capital Trust Ii)

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Payments of Interest Only. Promptly after each Regular Record Date, the Trustee will deliver to the Company and DTC a written notice specifying by CUSIP number the amount of interest (if then ascertainable) to be paid on each Global Book-Entry Note on the following Interest Payment Date (other than an Interest Payment Date coinciding with the Maturity DateMaturity) and the total of such amounts. DTC The Company will confirm with the Trustee and DTC the amount payable on each Global Book-Entry Note on such Interest Payment Date by reference to the daily bond reports published by Standard & Poor’s Corporation's. On such Interest Payment Date, the Company will pay to the Trustee in immediately available funds an amount sufficient to pay the interest then due and owingfunds, and upon receipt of such funds from the Company, the Trustee in turn will pay to DTC DTC, such total amount of interest due (other than on the Maturity Dateat Maturity), at the times and in the manner set forth below under "Manner of Payment."

Appears in 2 contracts

Samples: Distribution Agreement (Jersey Central Power & Light Co), Distribution Agreement (Jersey Central Power & Light Co)

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Payments of Interest Only. if any, and Interest: Promptly after each Regular Record Date, the Trustee will deliver to the Company and DTC a written notice specifying by CUSIP number the amount of interest (if then ascertainable) to be paid on each Global Book-Entry Note on the following Interest Payment Date (other than an Interest Payment Date coinciding with the Maturity DateMaturity) and the total of such amounts. DTC will confirm the amount payable on each Global Book-Entry Note on such Interest Payment Date by reference to the daily bond reports published by Standard & Poor’s Corporation's. On such Interest Payment Date, the Company will pay to the Trustee in immediately available funds an amount sufficient to pay the interest then due and owingfunds, and upon receipt of such funds from the Company, the Trustee in turn will pay to DTC DTC, such total amount of interest due (other than on the Maturity Dateat Maturity), at the times and in the manner set forth below under "Manner of Payment”.of

Appears in 1 contract

Samples: Distribution Agreement (Hawaiian Electric Co Inc)

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