Common use of Payments of Interest Clause in Contracts

Payments of Interest. Each Note shall be dated the date of its authentication and shall bear interest from the date specified on the face of the form of such Note attached as Exhibit A hereto. Interest on the Notes shall be computed on the basis of a 360-day year comprised of twelve 30-day months. The Person in whose name any Note is registered on the Security Register at the close of business on any Regular Record Date with respect to any Interest Payment Date shall be entitled to receive the interest payable on such Interest Payment Date; provided that (i) interest payable at Maturity shall be payable to the Person to whom principal is payable and (ii) interest that is deferred pursuant to Sections 2.2(b), 2.2(c) and 2.2(d) shall be payable as provided therein. Interest shall be payable at the office of the Company maintained by the Company for such purposes in the Borough of Manhattan, City of New York, which shall initially be the Corporate Trust Office of the Trustee. The Company shall pay interest (i) on any Notes in certificated form by check mailed to the address of the Person entitled thereto as it appears in the Note register (or upon written application by such Person to the Trustee not later than the relevant Regular Record Date, by wire transfer in immediately available funds to such Person’s account within the United States, if such Person is entitled to interest on an aggregate principal in excess of $1,000,000) or (ii) on any Global Note by wire transfer of immediately available funds to the account of the Depositary or its nominee. If any Interest Payment Date falls on a day that is not a Business Day, payment of any amount otherwise payable on that date will be made on the first following day that is a Business Day with the same force and effect as if made on the date it would otherwise have been payable. No additional interest will accrue as a result of such delayed payment.

Payments of Interest. Each Note Bond shall be dated the date of its authentication and shall bear interest from the date specified on the face of the form of such Note Bond attached as Exhibit A hereto. Interest on the Notes Bonds shall be computed on the basis of a 360-day year comprised of twelve 30-day months. The Person in whose name any Note Bond is registered on the Security Register at the close of business on any Regular Record Date with respect to any Interest Payment Date shall be entitled to receive the interest payable on such Interest Payment Date; provided that (i) interest payable at Maturity shall be payable to the Person to whom principal is payable and (ii) interest that is deferred pursuant to Sections 2.2(b), 2.2(c) and 2.2(d) hereof shall be payable as provided therein. Interest The Place of Payment for interest shall be payable at the office of the Company maintained by the Company for such purposes in the Borough of Manhattan, City of New York, which shall initially be the Corporate Trust Office of the Trustee. The Company shall pay interest (i) on any Notes Bonds in certificated form by check mailed to the address of the Person entitled thereto as it appears in the Note Bond register (or upon appropriate written application by such Person to the Trustee or other Paying Agent not later than 15 Business Days prior to the relevant Regular Record Interest Payment Date, by wire transfer in immediately available funds to such Person’s account within the United Statesin New York, if such Person is entitled to interest on an aggregate principal in excess of $1,000,000US$10,000,000) or (ii) on any Global Note Bond by wire transfer of immediately available funds to the account of the Depositary DTC or its nominee. If any Interest Payment Date falls on a day that is not a Business Day, payment of any amount otherwise payable on that date will be made on the first following day that is a Business Day with the same force and effect as if made on the date it would otherwise have been payable. No additional interest will accrue as a result of such delayed payment.