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 to be paid on each Book-Entry Note on the following Interest Payment Date (other than an Interest Payment Date coinciding with Maturity) and the total of such amounts. DTC will confirm the amount payable on each Book-Entry Note on such Interest Payment Date. The Company will pay to the Trustee, as paying agent, the total amount of interest due on such Interest Payment Date (other than at Maturity), and the Trustee will pay such amount to DTC at the times and in the manner set forth below under “Manner of Payment”.

Appears in 2 contracts

Samples: Distribution Agreement (Lehman Brothers Holdings Capital Trust VIII), Distribution Agreement (Lehman Brothers Holdings Inc)

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Payments of Interest Only. Promptly after each Regular Record Date, the Trustee will deliver to the Company Issuer and DTC a written notice specifying by CUSIP number the amount of interest to be paid on each Book-Entry Note on the following Interest Payment Date (other than an Interest Payment Date coinciding with Maturity) and the total of such amounts. DTC will confirm the amount payable on each Book-Entry Note on such Interest Payment DateDate by reference to the daily or weekly bond reports published by Standard & Poor's Corporation. The Company Issuer will pay to the Trustee, as paying agent, Trustee the total amount of interest due on such Interest Payment Date (other than at Maturity), and the Trustee will pay such amount to DTC at the times and in the manner set forth below under "Manner of Payment".

Appears in 2 contracts

Samples: Settlement Procedure (Piedmont Natural Gas Co Inc), Piedmont Natural Gas Co Inc

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