WRITING OF THE
AMOUNT OF DEFAULTED INTEREST PROPOSED TO BE PAID ON EACH SECURITY OF SUCH SERIES
AND THE DATE OF THE PROPOSED PAYMENT, AND AT THE SAME TIME THE COMPANY SHALL
DEPOSIT WITH THE TRUSTEE AN AMOUNT OF MONEY IN THE CURRENCY IN WHICH THE
SECURITIES OF SUCH SERIES ARE PAYABLE (EXCEPT AS OTHERWISE SPECIFIED PURSUANT TO
SECTION 301 FOR THE SECURITIES OF SUCH SERIES) EQUAL TO THE AGGREGATE AMOUNT
PROPOSED TO BE PAID IN RESPECT OF SUCH DEFAULTED INTEREST OR SHALL MAKE
ARRANGEMENTS SATISFACTORY TO THE TRUSTEE FOR SUCH DEPOSIT ON OR PRIOR TO THE
DATE OF THE PROPOSED PAYMENT, SUCH MONEY WHEN DEPOSITED TO BE HELD IN TRUST FOR
THE BENEFIT OF THE PERSONS ENTITLED TO SUCH DEFAULTED INTEREST AS IN THIS CLAUSE
PROVIDED. THEREUPON THE TRUSTEE SHALL FIX A SPECIAL RECORD DATE FOR THE PAYMENT
OF SUCH DEFAULTED INTEREST WHICH SHALL BE NOT MORE THAN 15 DAYS AND NOT
25
LESS THAN 10 DAYS PRIOR TO THE DATE OF THE PROPOSED PAYMENT AND NOT LESS THAN 10
DAYS AFTER THE RECEIPT BY THE TRUSTEE OF THE NOTICE OF THE PROPOSED PAYMENT. THE
TRUSTEE SHALL PROMPTLY NOTIFY THE COMPANY OF SUCH SPECIAL RECORD DATE AND, IN
THE NAME AND AT THE EXPENSE OF THE COMPANY, SHALL CAUSE NOTICE OF THE PROPOSED
PAYMENT OF SUCH DEFAULTED INTEREST AND THE SPECIAL RECORD DATE THEREFOR TO BE
MAILED, FIRST-CLASS POSTAGE PREPAID, TO EACH HOLDER OF SECURITIES OF SUCH SERIES
AT HIS ADDRESS AS IT APPEARS IN THE SECURITY REGISTER, NOT LESS THAN 10 DAYS
PRIOR TO SUCH SPECIAL RECORD DATE. NOTICE OF THE PROPOSED PAYMENT OF SUCH
DEFAULTED INTEREST AND THE SPECIAL RECORD DATE THEREFOR HAVING BEEN SO MAILED,
SUCH DEFAULTED INTEREST SHALL BE PAID TO THE PERSONS IN WHOSE NAME THE
SECURITIES OF SUCH SERIES (OR THEIR RESPECTIVE PREDECESSOR SECURITIES) ARE
REGISTERED AT THE CLOSE OF BUSINESS ON SUCH SPECIAL RECORD DATE AND SHALL NO
LONGER BE PAYABLE PURSUANT TO THE FOLLOWING CLAUSE (2).
(2)
THE COMPANY MAY MAKE PAYMENT OF ANY DEFAULTED INTEREST ON THE
SECURITIES OF ANY SERIES IN ANY OTHER LAWFUL MANNER NOT INCONSISTENT WITH THE
REQUIREMENTS OF ANY SECURITIES EXCHANGE ON WHICH SUCH SECURITIES MAY BE LISTED,
AND UPON SUCH NOTICE AS MAY BE REQUIRED BY SUCH EXCHANGE, IF, AFTER NOTICE GIVEN
BY THE COMPANY TO THE TRUSTEE OF THE PROPOSED PAYMENT PURSUANT TO THIS CLAUSE,
SUCH MANNER OF PAYMENT SHALL BE DEEMED PRACTICABLE BY THE TRUSTEE.
(B)
SUBJECT TO THE FOREGOING PROVISIONS OF THIS SECTION AND
SECTION 305, EACH SECURITY DELIVERED UNDER THIS INDENTURE UPON REGISTRATION OF
TRANSFER OF OR IN EXCHANGE FOR OR IN LIEU OF ANY OTHER SECURITY SHALL CARRY THE
RIGHTS TO INTEREST ACCRUED AND UNPAID, AND TO ACCRUE, WHICH WERE CARRIED BY SUCH
OTHER SECURITY.
SECTION 308.
[RESERVED].
SECTION 309
Persons Deemed Owners. Prior to due presentment of a Security
for registration of transfer, the Company, the Trustee and any agent of the
Company or the Trustee may treat the Person in whose name such Security is
registered as