Company's Option to Effect Defeasance or Covenant Defeasance. ---------------------- Unless otherwise provided pursuant to Section 301, this Article Thirteen shall be applicable to the Securities of such series, and the Company may at its option by Board Resolution, at any time, with respect to the Securities of such series, elect to have either Section 1302 (if applicable) or Section 1303 (if applicable) be applied to the Outstanding Securities of such series upon compliance with the conditions set forth below in this Article Thirteen.
Company's Option to Effect Defeasance or Covenant Defeasance. ---------------------- If pursuant to Section 301 provision is made for either or both of (a) defeasance of the Securities of a series under Section 1302 or (b) covenant defeasance of the Securities of a series under Section 1303, then the provisions of such Section or Sections, as the case may be, together with the other provisions of this Article Thirteen, shall be applicable to the Securities of such series, and the Company may at any time elect (such election to be evidenced by a Board Resolution), with respect to the Securities of such series, either to effect such a defeasance pursuant to Section 1302 (if applicable) or to effect such a covenant defeasance pursuant to Section 1303 (if applicable) in respect of the Outstanding Securities of such series upon compliance with the conditions set forth below in this Article Thirteen.
Company's Option to Effect Defeasance or Covenant Defeasance. ---------------------- Unless, pursuant to Section 301, provision is made that either or both of (a) defeasance of the Securities of a series under Section 1502 or (b) covenant defeasance of the Securities of a series under Section 1503 shall not apply to the Securities of a series, then the provisions of such Section or Sections, as the case may be, together with the other provisions of this Article Fifteen, with such modifications thereto as may be specified pursuant to Section 301 with respect to any Securities, shall be applicable to the Securities of such series, and the Company may at its option by Board Resolution, at any time, with respect to the Securities of such series, elect to have either Section 1502 (if applicable) or Section 1503 (if applicable) applied to the Outstanding Securities of such series upon compliance with the conditions set forth below in this Article Fifteen.
Company's Option to Effect Defeasance. The Company may elect, at its option at any time, to effect defeasance of all the Notes as provided in Section 13.02 upon compliance with the conditions set forth below in this Article Thirteen. Any such election shall be evidenced by a Company Order. Upon the Company's exercise of its option to defease all but not less than all the Notes, and the satisfaction of the conditions set forth in this Article Thirteen, the Debt Service Coverage Account shall be liquidated, all amounts therein released to the Company and the security interest in the Collateral shall be terminated. On the funding date of a defeasance, the Insurance Policy on its terms will terminate as to all future payments but will remain in effect for all amounts paid prior to such funding date for the applicable fraudulent transfer or voidable transfer periods following such funding date.
Company's Option to Effect Defeasance. If pursuant to Section 301 provision is made for either or both of (a) defeasance of any Securities under Section 1302 and (b) covenant defeasance of any Securities under Section 1303, then the provisions of such Section or Sections, as the case may be, together with the other provisions of this Article Thirteen, shall be applicable to such Securities, and the Company may at its option by Board Resolution or in another manner specified as contemplated by Section 301 for such Securities, at any time, elect to have either Section 1302 (if applicable) or Section 1303 (if applicable) be applied to such Securities upon compliance with the conditions set forth in this Article Thirteen.
Company's Option to Effect Defeasance. The Company may at its option by Board Resolution or a resolution of any two Authorized Officers, at any time, elect to have either Section 10.2 or Section 10.3 applied to any Series of Notes Outstanding upon compliance with the conditions set forth below in this Article Ten.
Company's Option to Effect Defeasance. Unless otherwise provided for the Securities of any series pursuant to Section 301, the provisions of Article Thirteen shall be applicable to the Securities of any series, and the Company may at its option by or pursuant to a Board Resolution, at any time, with respect to the Securities of such series, elect to have Section 1302 be applied to the Outstanding Securities of such series upon compliance with the conditions set forth below in this Article Thirteen.
Company's Option to Effect Defeasance or Covenant Defeasance'. Unless otherwise provided, pursuant to Section 301, in ---------------------- respect of the Securities of or within a series, the Company may, at its option, by Board Resolution at any time, elect to have either or both of (a) the defeasance provisions of Section 1402 or (b) the covenant defeasance provisions of Section 1403 apply to the Outstanding Securities of or within such series upon compliance with the applicable conditions set forth in this Article.
Company's Option to Effect Defeasance. The Company may at its option by Board Resolution of the Company, at any time, elect to effect defeasance of the Outstanding Securities and shall be discharged from its obligations with respect to the Outstanding Securities on the date the conditions set forth in this Article Twelve are satisfied (hereinafter, "defeasance"). For this purpose, such defeasance means that the Company shall be deemed to have paid and discharged the entire Indebtedness represented by the Outstanding Securities and to have satisfied all its other obligations under such Securities and this Indenture insofar as such Securities are concerned (and the Trustee, at the expense of the Company, shall execute instruments in form satisfactory to the Company and the Trustee acknowledging the same), except for the following obligations under the Securities and the Indenture, which shall survive until otherwise terminated or discharged hereunder: (A) the rights of Holders of such Securities to receive, solely from the trust fund described in Section 1204 and as more fully set forth in such Section, payments in respect of the principal of (and premium, if any) and interest on such Securities when such payments are due, (B) the Company's obligations with respect to such Securities under Sections 304, 305, 306, 1002 and 1003, (C) Section 607 and the rights, powers, trusts, duties and immunities of the Trustee hereunder and (D) this Article Twelve.
Company's Option to Effect Defeasance. The Company may elect, at its option at any time, to have Section 1302 applied to any Securities or any series of Securities, as the case may be, designated pursuant to Section 301 as being defeasible pursuant to such Section 1302, in accordance with any applicable requirements provided pursuant to Section 301 and upon compliance with the conditions set forth below in this Article. Any such election shall be evidenced by a Board Resolution or in another manner specified as contemplated by Section 301 for such Securities.
