Common use of Retired Securities Clause in Contracts

Retired Securities. In the event a portion of the Securities has been retired by the Company and submitted to the Trustee for cancellation and there is no continuing Default or Event of Default under the Indenture, funds representing the lesser of (i) any funds remaining in the Escrow Account that are in excess of the amount sufficient to pay interest through and including December 15, 2006 on the Securities not so retired and (ii) the interest payments which have not previously been made on such retired Securities for each Interest Payment Date through the Interest Payment Date to occur on December 15, 2006 shall upon the written request of the Company to the Escrow Agent and the Trustee, and upon payment by the Company of any amounts due and owing to the Trustee and the Escrow Agent, be paid to the Company upon compliance with the release of collateral provisions of the Indenture and upon receipt by the Escrow Agent of a Payment Notice and Disbursement Instruction from the Trustee to that effect.