Common use of SECTION 508 Clause in Contracts

SECTION 508. Unconditional Right of Holders to Receive Principal and Interest and Convert .................................................................... 39 SECTION 509. Restoration of Rights and Remedies ......................................... 40 SECTION 510. Rights and Remedies Cumulative ............................................. 40 SECTION 511. Delay or Omission Not Waiver ............................................... 40 SECTION 512. Control by Holders ......................................................... 40 SECTION 513. Waiver of Past Defaults .................................................... 41 SECTION 514. Undertaking for Costs ...................................................... 41 SECTION 515. Waiver of Stay or Extension Laws ........................................... 42 SECTION 516. Enforcement by Holders of Preferred Securities ................................................................. 42 ARTICLE SIX The Trustee ........................................... 43

SECTION 508. Unconditional Right of Holders to Receive Principal and Principal, Premium, Interest and Convert .................................................................... 39 SECTION Additional Amounts; Direct Action by Holders of Preferred Securities ............................................... 43 Section 509. Restoration of Rights and Remedies ......................................... 40 SECTION ................................. 44 Section 510. Rights and Remedies Cumulative ............................................. 40 SECTION ..................................... 44 Section 511. Delay or Omission Not Waiver ............................................... 40 SECTION ....................................... 44 Section 512. Control by Holders ......................................................... 40 SECTION ................................................. 45 Section 513. Waiver of Past Defaults .................................................... 41 SECTION ............................................ 45 -ii- TABLE OF CONTENTS (continued) Page Section 514. Undertaking for Costs ...................................................... 41 SECTION ................................................. 46 Section 515. Waiver of Usury, Stay or Extension Laws ........................................... 42 SECTION 516. Enforcement by Holders of Preferred Securities ................................................................. 42 ............................... 46 ARTICLE SIX The Trustee ........................................... 43THE TRUSTEE .............................................................. 46 Section 601. Certain Duties and Responsibilities ................................... 46 Section 602. Notice of Defaults .................................................... 46

SECTION 508. Unconditional Right of Holders to Receive Principal and any Premium, Interest and Convert .................................................................... 39 SECTION Additional Amounts.................................51 Section 509. Restoration of Rights and Remedies ......................................... 40 SECTION Remedies.......................................51 Section 510. Rights and Remedies Cumulative ............................................. 40 SECTION Cumulative...........................................51 Section 511. Delay or Omission Not Waiver ............................................... 40 SECTION Waiver.............................................52 Section 512. Control by Holders ......................................................... 40 SECTION of Securities.........................................52 Section 513. Waiver of Past Defaults .................................................... 41 SECTION Defaults..................................................52 Section 514. Waiver of Usury, Stay or Extension Laws..................................53 Section 515. Undertaking for Costs ...................................................... 41 SECTION 515. Waiver of Stay or Extension Laws ........................................... 42 SECTION 516. Enforcement by Holders of Preferred Securities ................................................................. 42 Costs....................................................53 ARTICLE SIX The Trustee ........................................... 43THE TRUSTEE Section 601. Certain Rights of Trustee................................................54

SECTION 508. Unconditional Right of Holders to Receive Principal Premium and Interest and Convert .................................................................... 39 SECTION Interest................... 40 Section 509. Restoration of Rights and Remedies ......................................... Remedies......................................................... 40 SECTION Section 510. Rights and Remedies Cumulative ............................................. Cumulative............................................................. 40 SECTION Section 511. Delay or Omission Not Waiver ............................................... Waiver............................................................... 40 SECTION Section 512. Control by Holders ......................................................... 40 SECTION Holders......................................................................... 41 Section 513. Waiver of Past Defaults .................................................... and Compliance.......................................................... 41 SECTION Section 514. Undertaking for Costs ...................................................... Security Agreements........................................................................ 41 SECTION 515. Waiver of Stay or Extension Laws ........................................... 42 SECTION 516. Enforcement by Holders of Preferred Securities ................................................................. 42 ARTICLE SIX The THE TRUSTEE Section 601. Notice of Defaults......................................................................... 42 Section 602. Certain Rights of Trustee.................................................................. 42 Section 603. Trustee ........................................... Not Responsible for Recitals or Issuance of Securities............................. 43

SECTION 508. Unconditional Right of Holders to Receive Principal and any Premium, Interest and Convert .................................................................... 39 SECTION Additional Amounts...........................................................................47 Section 509. Restoration of Rights and Remedies ......................................... 40 SECTION Remedies.............................................................47 Section 510. Rights and Remedies Cumulative ............................................. 40 SECTION Cumulative.................................................................48 Section 511. Delay or Omission Not Waiver ............................................... 40 SECTION Waiver...................................................................48 Section 512. Control by Holders ......................................................... 40 SECTION of Securities...............................................................48 Section 513. Waiver of Past Defaults .................................................... 41 SECTION Defaults........................................................................48 Section 514. Waiver of Usury, Stay or Extension Laws........................................................49 Section 515. Undertaking for Costs ...................................................... 41 SECTION 515. Waiver of Stay or Extension Laws ........................................... 42 SECTION 516. Enforcement by Holders of Preferred Securities ................................................................. 42 Costs..........................................................................49 ARTICLE SIX The Trustee ........................................... 43THE TRUSTEE

SECTION 508. Unconditional Right of Holders to Receive Principal Principal, Premium and Interest and Convert .................................................................... 39 Interest...................................................................................36 SECTION 509. Restoration of Rights and Remedies ......................................... 40 Remedies.............................................................37 SECTION 510. Rights and Remedies Cumulative ............................................. 40 Cumulative.................................................................37 SECTION 511. Delay or Omission Not Waiver ............................................... 40 Waiver...................................................................37 SECTION 512. Control by Holders ......................................................... 40 Holders.............................................................................37 SECTION 513. Waiver of Past Defaults .................................................... 41 Defaults........................................................................38 SECTION 514. Undertaking for Costs ...................................................... 41 Costs..........................................................................38 SECTION 515. Waiver of Stay or Extension Laws ........................................... 42 SECTION 516. Enforcement by Holders of Preferred Securities ................................................................. 42 Laws...............................................................39 ARTICLE SIX The Trustee ........................................... 43-- THE TRUSTEE SECTION 601. Certain Duties and Responsibilities............................................................39 SECTION 602. Notice of Defaults.............................................................................40

SECTION 508. Unconditional Right of Holders to Receive Principal Principal, Premium and Interest and Convert .................................................................... 39 Interest......61 SECTION 509. Restoration of Rights and Remedies ......................................... 40 Remedies.............................................61 SECTION 510. Rights and Remedies Cumulative ............................................. 40 Cumulative.................................................62 SECTION 511. Delay or Omission Not Waiver ............................................... 40 Waiver...................................................62 SECTION 512. Control by Holders ......................................................... 40 Holders.............................................................62 SECTION 513. Waiver of Past Defaults .................................................... 41 Defaults........................................................62 SECTION 514. Undertaking for Costs ...................................................... 41 Costs..........................................................63 SECTION 515. Waiver of Stay Stay, Extension or Extension Laws ........................................... 42 Usury Laws........................................63 SECTION 516. Enforcement by Holders of Preferred Securities ................................................................. 42 Change in Control Offer........................................................63 ARTICLE SIX The Trustee ........................................... 43THE TRUSTEE

SECTION 508. Unconditional Right of Holders to Receive Principal and Interest and to Convert .................................................................... 39 .................................................. 38 SECTION 509. Restoration of Rights and Remedies ......................................... 40 .......................... 38 SECTION 510. Rights and Remedies Cumulative ............................................. 40 .............................. 39 SECTION 511. Delay or Omission Not Waiver ............................................... 40 ................................ 39 SECTION 512. Control by Holders ......................................................... 40 .......................................... 39 SECTION 513. Waiver of Past Defaults .................................................... 41 ..................................... 39 SECTION 514. Undertaking for Costs ...................................................... 41 ....................................... 40 SECTION 515. Waiver of Stay or Extension Laws ........................................... 42 SECTION 516. Enforcement by Holders of Preferred Securities ................................................................. 42 ............................ 40 ARTICLE SIX The Trustee ........................................... 43SECTION 601. Certain Duties and Responsibilities ......................... 41 SECTION 602. Notice of Defaults .......................................... 41

SECTION 508. Unconditional Right of Holders to Receive Principal and any Premium, Interest and Convert .................................................................... 39 SECTION Additional Amounts.....................................................................................50 Section 509. Restoration of Rights and Remedies ......................................... 40 SECTION Remedies..........................................................50 Section 510. Rights and Remedies Cumulative ............................................. 40 SECTION Cumulative..............................................................50 Section 511. Delay or Omission Not Waiver ............................................... 40 SECTION not Waiver................................................................50 Section 512. Control by Holders ......................................................... 40 SECTION of Securities............................................................51 Section 513. Waiver of Past Defaults .................................................... 41 SECTION Defaults.....................................................................51 Section 514. Undertaking for Costs ...................................................... 41 SECTION 515. Waiver of Stay or Extension Laws ........................................... 42 SECTION Laws............................................................51 Section 515. Undertaking for Costs.......................................................................52 Section 516. Enforcement by Direct Action Right of Holders of Trust Preferred Securities ................................................................. 42 Securities................................52 ARTICLE SIX The Trustee ........................................... 43THE TRUSTEE

SECTION 508. Unconditional Right of Holders to Receive Principal Principal, Premium and Interest and Convert .................................................................... 39 SECTION Additional Amounts, if Any.......................................................... 49 Section 509. Restoration of Rights and Remedies ......................................... 40 SECTION Remedies...................................................... 50 Section 510. Rights and Remedies Cumulative ............................................. 40 SECTION Cumulative.......................................................... 50 Section 511. Delay or Omission Not Waiver ............................................... 40 SECTION Waiver............................................................ 50 Section 512. Control by Holders ......................................................... 40 SECTION of Securities........................................................ 50 Section 513. Undertaking for Costs................................................................... 51 Section 514. Waiver of Past Defaults .................................................... 41 SECTION 514. Undertaking for Costs ...................................................... 41 SECTION Defaults................................................................. 51 Section 515. Waiver of Usury, Stay or Extension Laws ........................................... 42 SECTION 516. Enforcement by Holders of Preferred Securities ................................................................. 42 Laws................................................. 51 ARTICLE SIX The Trustee ........................................... 43THE TRUSTEE Section 601. Notice of Defaults...................................................................... 52 Section 602. Certain Rights of Trustee............................................................... 52

SECTION 508. Unconditional Right of Holders to Receive Principal and Redemption Interest and Convert .................................................................... 39 to Convert.............................................................................51 SECTION 509. Restoration of Rights and Remedies ......................................... 40 Remedies.........................................................51 SECTION 510. Rights and Remedies Cumulative ............................................. 40 Cumulative.............................................................52 SECTION 511. Delay or Omission Not Waiver ............................................... 40 Waiver...............................................................52 SECTION 512. Control by Holders ......................................................... 40 Holders.........................................................................52 SECTION 513. Waiver of Past Defaults .................................................... 41 Defaults....................................................................52 SECTION 514. Undertaking for Costs ...................................................... 41 Costs......................................................................53 SECTION 515. Waiver of Stay or Extension Laws ........................................... 42 SECTION 516. Enforcement by Holders of Preferred Securities ................................................................. 42 Laws...........................................................53 ARTICLE SIX The Trustee ........................................... 43THE TRUSTEE SECTION 601. Certain Duties and Responsibilities........................................................53 SECTION 602. Notice of Defaults.........................................................................54

SECTION 508. Unconditional Right of Holders to Receive Principal Principal, Premium and Interest and Convert .................................................................... 39 Interest......... 40 SECTION 509. Restoration of Rights and Remedies ......................................... Remedies................................................ 40 SECTION 510. Rights and Remedies Cumulative ............................................. 40 Cumulative.................................................... 41 SECTION 511. Delay or Omission Not Waiver ............................................... 40 Waiver...................................................... 41 SECTION 512. Control by Holders ......................................................... 40 Holders................................................................ 41 SECTION 513. Waiver of Past Defaults .................................................... Defaults........................................................... 41 SECTION 514. Undertaking for Costs ...................................................... 41 Costs............................................................. 42 SECTION 515. Waiver of Usury, Stay or Extension Laws Laws........................................... 42 ARTICLE Six The Trustee..................................................................................... 42 SECTION 516601. Enforcement by Holders Certain Duties and Responsibilities............................................... 42 SECTION 602. Notice of Preferred Securities ................................................................. Defaults................................................................ 42 ARTICLE SIX The Trustee ........................................... SECTION 603. Certain Rights of Trustee......................................................... 43

SECTION 508. Unconditional Right of Holders to Receive Principal Principal, Premium and Interest and Convert .................................................................... 39 Interest... 40 SECTION 509. Restoration of Rights and Remedies ......................................... Remedies.......................................... 40 SECTION 510. Rights and Remedies Cumulative ............................................. 40 Cumulative.............................................. 41 SECTION 511. Delay or Omission Not Waiver ............................................... 40 Waiver................................................ 41 SECTION 512. Control by Holders ......................................................... 40 Holders.......................................................... 41 SECTION 513. Waiver of Past Defaults .................................................... Defaults..................................................... 41 SECTION 514. Undertaking for Costs ...................................................... 41 Costs....................................................... 42 SECTION 515. Waiver of Usury, Stay or Extension Laws ........................................... Laws..................................... 42 ARTICLE Six The Trustee....................................................................... 42 SECTION 516601. Enforcement by Holders Certain Duties and Responsibilities......................................... 42 SECTION 602. Notice of Preferred Securities ................................................................. Defaults.......................................................... 42 ARTICLE SIX The Trustee ........................................... SECTION 603. Certain Rights of Trustee................................................... 43

SECTION 508. Unconditional Right of Holders to Receive Principal and any Premium, Interest and Convert .................................................................... 39 SECTION Additional Amounts......................................................................50 Section 509. Restoration of Rights and Remedies ......................................... 40 SECTION Remedies..........................................................50 Section 510. Rights and Remedies Cumulative ............................................. 40 SECTION Cumulative..............................................................50 Section 511. Delay or Omission Not Waiver ............................................... 40 SECTION not Waiver................................................................50 Section 512. Control by Holders ......................................................... 40 SECTION of Securities............................................................51 Section 513. Waiver of Past Defaults .................................................... 41 SECTION Defaults.....................................................................51 Section 514. Undertaking for Costs ...................................................... 41 SECTION 515. Waiver of Stay or Extension Laws ........................................... 42 SECTION Laws............................................................51 Section 515. Undertaking for Costs.......................................................................52 Section 516. Enforcement by Direct Action Right of Holders of Trust Preferred Securities ................................................................. 42 Securities................................52 ARTICLE SIX The Trustee ........................................... 43THE TRUSTEE

SECTION 508. Unconditional Right of Holders to Receive Principal and Principal, Premium, Interest and Convert .................................................................... 39 SECTION Additional Amounts ....................................... 38 Section 509. Restoration of Rights and Remedies ......................................... 40 SECTION .................................... 38 Section 510. Rights and Remedies Cumulative ............................................. 40 SECTION ........................................ 38 Section 511. Delay or Omission Not Waiver ............................................... 40 SECTION .......................................... 38 Section 512. Control by Holders ......................................................... 40 SECTION .................................................... 38 Section 513. Waiver of Past Defaults .................................................... 41 SECTION ............................................... 39 Section 514. Undertaking for Costs ...................................................... 41 SECTION ................................................. 39 Section 515. Waiver of Usury, Stay or Extension Laws ........................................... 42 SECTION 516. Enforcement by Holders of Preferred Securities ................................................................. 42 ............................... 40 ARTICLE SIX The Trustee ........................................... 43THE TRUSTEE .............................................................. 40 Section 601. Certain Duties and Responsibilities ................................... 40 Section 602. Notice of Defaults .................................................... 40

SECTION 508. Unconditional Right of Holders to Receive Principal Principal, Premium and Interest and Convert .................................................................... 39 to Convert........................................ 40 PAGE SECTION 509. Restoration of Rights and Remedies ......................................... Remedies.............................................. 40 SECTION 510. Rights and Remedies Cumulative ............................................. 40 Cumulative.................................................. 41 SECTION 511. Delay or Omission Not Waiver ............................................... 40 Waiver.................................................... 41 SECTION 512. Control by Holders ......................................................... 40 Holders.............................................................. 41 SECTION 513. Waiver of Past Defaults .................................................... Defaults......................................................... 41 SECTION 514. Undertaking for Costs ...................................................... 41 Costs........................................................... 42 SECTION 515. Waiver of Usury, Stay or Extension Laws ........................................... 42 SECTION 516. Enforcement by Holders of Preferred Securities ................................................................. Laws......................................... 42 ARTICLE SIX The Trustee ........................................... THE TRUSTEE SECTION 601. Certain Duties and Responsibilities............................................. 42 SECTION 602. Notice of Defaults.............................................................. 43

SECTION 508. Unconditional Right of Holders to Receive Principal Principal, Premium and Interest and to Convert .................................................................... 39 ..... 38 SECTION 509. Restoration of Rights and Remedies ......................................... 40 ........................................................... 39 PAGE SECTION 510. Rights and Remedies Cumulative ............................................. 40 ............................................................... 39 SECTION 511. Delay or Omission Not Waiver ............................................... 40 ................................................................. 39 SECTION 512. Control by Holders ......................................................... 40 ........................................................................... 39 SECTION 513. Waiver of Past Defaults .................................................... 41 ...................................................................... 40 SECTION 514. Undertaking for Costs ...................................................... 41 ........................................................................ 40 SECTION 515. Waiver of Usury, Stay or Extension Laws ........................................... 42 SECTION 516. Enforcement by Holders of Preferred Securities ................................................................. 42 ...................................................... 40 ARTICLE SIX The Trustee ........................................... 43THE TRUSTEE SECTION 601. Certain Duties and Responsibilities .......................................................... 41 SECTION 602. Notice of Defaults ........................................................................... 41

SECTION 508. Unconditional Right of Holders to Receive Principal and Principal, Premium, Interest and Convert .................................................................... 39 SECTION Additional Amounts ................................................... 47 Section 509. Restoration of Rights and Remedies ......................................... 40 SECTION Remedies.......................................... 47 Section 510. Rights and Remedies Cumulative ............................................. 40 SECTION Cumulative.............................................. 47 Section 511. Delay or Omission Not Waiver ............................................... 40 SECTION Waiver................................................ 47 Section 512. Control by Holders ......................................................... 40 SECTION By Holders.......................................................... 48 Section 513. Waiver of Past Defaults .................................................... 41 SECTION Defaults..................................................... 48 Section 514. Undertaking for Costs ...................................................... 41 SECTION 515. Waiver of Stay or Extension Laws ........................................... 42 SECTION 516. Enforcement by Holders of Preferred Securities ................................................................. 42 Laws............................................ 48 ARTICLE SIX The Trustee ........................................... 43THE TRUSTEE.......................................................................... 49 Section 601. Notice of Defaults.......................................................... 49 Section 602. Certain Rights of Trustee................................................... 49

SECTION 508. Unconditional Right of Holders to Receive Principal Principal, Premium and Interest and Convert .................................................................... 39 SECTION Additional Amounts, if Any............................................................... 49 Section 509. Restoration of Rights and Remedies ......................................... 40 SECTION Remedies....................................................... 49 Section 510. Rights and Remedies Cumulative ............................................. 40 SECTION Cumulative........................................................... 50 Section 511. Delay or Omission Not Waiver ............................................... 40 SECTION Waiver............................................................. 50 Section 512. Control by Holders of Securities......................................................... 40 SECTION 50 Section 513. Undertaking for Costs.................................................................... 50 Section 514. Waiver of Past Defaults .................................................... 41 SECTION 514. Undertaking for Costs ...................................................... 41 SECTION Defaults.................................................................. 51 Section 515. Waiver of Usury, Stay or Extension Laws ........................................... 42 SECTION 516. Enforcement by Holders of Preferred Securities ................................................................. 42 Laws.................................................. 51 ARTICLE SIX The Trustee ........................................... 43THE TRUSTEE Section 601. Notice of Defaults....................................................................... 51 Section 602. Certain Rights of Trustee................................................................ 52 Section 603. Not Responsible for Recitals or Issuance of Securities................................... 54

SECTION 508. Unconditional Right of Holders to Receive Principal Principal, Premium and Interest and Convert .................................................................... 39 to Convert............................................................. 38 PAGE SECTION 509. Restoration of Rights and Remedies ......................................... 40 Remedies.............................................. 38 SECTION 510. Rights and Remedies Cumulative ............................................. 40 Cumulative.................................................. 38 SECTION 511. Delay or Omission Not Waiver ............................................... 40 Waiver.................................................... 38 SECTION 512. Control by Holders ......................................................... 40 Holders.............................................................. 39 SECTION 513. Waiver of Past Defaults .................................................... 41 Defaults......................................................... 39 SECTION 514. Undertaking for Costs ...................................................... 41 Costs........................................................... 39 SECTION 515. Waiver of Usury, Stay or Extension Laws ........................................... 42 SECTION 516. Enforcement by Holders of Preferred Securities ................................................................. 42 Laws......................................... 40 ARTICLE SIX The Trustee ........................................... 43THE TRUSTEE SECTION 601. Certain Duties and Responsibilities............................................. 40 SECTION 602. Notice of Defaults.............................................................. 40

SECTION 508. Unconditional Right of Holders to Receive Principal Principal, Premium and Interest and Convert .................................................................... 39 SECTION Interest. 40 Section 509. Restoration of Rights and Remedies ......................................... Remedies............................................................ 40 SECTION Section 510. Rights and Remedies Cumulative ............................................. 40 SECTION Cumulative................................................................ 41 Section 511. Delay or Omission Not Waiver ............................................... 40 SECTION Waiver.................................................................... 41 Section 512. Control by Holders ......................................................... 40 SECTION Holders....................................................................................... 41 Section 513. Waiver of Past Defaults .................................................... 41 SECTION Defaults................................................................................ 42 Section 514. Undertaking for Costs ...................................................... 41 SECTION Costs................................................................................... 42 Section 515. Waiver of Usury Stay or Extension Laws ........................................... 42 SECTION 516. Enforcement by Holders of Preferred Securities ................................................................. Laws.................................................... 42 ARTICLE SIX The Trustee ........................................... THE TRUSTEE................................................................................................... 43 Section 601. Certain Duties and Responsibilities.............................................................. 43 Section 602. Notice of Defaults......................................................................................... 43

SECTION 508. Unconditional Right of Holders to Receive Principal Principal, Premium and Interest and Convert .................................................................... Interest.............39 SECTION Section 509. Restoration of Rights and Remedies ......................................... 40 SECTION Remedies.....................................................39 Section 510. Rights and Remedies Cumulative ............................................. Cumulative.........................................................40 SECTION Section 511. Delay or Omission Not Waiver ............................................... Waiver...........................................................40 SECTION Section 512. Control by Holders ......................................................... Holders.....................................................................40 SECTION Section 513. Waiver of Past Defaults .................................................... 41 SECTION Defaults................................................................40 Section 514. Undertaking for Costs ...................................................... Costs..................................................................41 SECTION Section 515. Waiver of Stay or Extension Laws ........................................... 42 SECTION 516. Enforcement by Holders of Preferred Securities ................................................................. 42 Laws.......................................................41 ARTICLE SIX The Trustee ........................................... 43THE TRUSTEE................................................................42 Section 601. Certain Duties and Responsibilities....................................................42 Section 602. Notice of Defaults.....................................................................42 Section 603. Certain Rights of Trustee..............................................................42 -iii-

SECTION 508. Unconditional Right of Holders to Receive Principal and Principal, Premium, Interest and Convert .................................................................... 39 SECTION Additional Amounts...............................................................38 Section 509. Restoration of Rights and Remedies ......................................... 40 SECTION Remedies...............................................38 Section 510. Rights and Remedies Cumulative ............................................. 40 SECTION Cumulative...................................................38 Section 511. Delay or Omission Not Waiver ............................................... 40 SECTION Waiver.....................................................38 Section 512. Control by Holders ......................................................... 40 SECTION Holders...............................................................38 Section 513. Waiver of Past Defaults .................................................... 41 SECTION Defaults..........................................................39 Section 514. Undertaking for Costs ...................................................... 41 SECTION Costs............................................................39 Section 515. Waiver of Usury, Stay or Extension Laws ........................................... 42 SECTION 516. Enforcement by Holders of Preferred Securities ................................................................. 42 Laws..........................................40 ARTICLE SIX The Trustee ........................................... 43THE TRUSTEE..........................................................................40 Section 601. Certain Duties and Responsibilities..............................................40 Section 602. Notice of Defaults...............................................................40