security on the first interest payment date falling after the date of issuance, unless the date of issuance is less than 15 calendar days before an interest payment date. In that case, the
paying agent will pay interest on the next succeeding interest payment date to the holder of record on the record date corresponding to the succeeding interest payment date. An interest payment date for any debt security means a date on
which, under the terms of that debt security, regularly scheduled interest is payable.
Book-Entry Debt Securities.
The
paying agent will make payments of principal, premium, if any, and interest, if any, to the account of The Depository Trust Company, referred to herein as DTC, or other depositary specified in the applicable prospectus supplement, as
holder of book-entry debt securities, by wire transfer of immediately available funds. The depositary means the depositary for global securities issued under the applicable indenture and, unless provided otherwise in the applicable
prospectus supplement, means DTC. We expect that the depositary, upon receipt of any payment, will immediately credit its participants accounts in amounts proportionate to their respective beneficial interests in the book-entry debt securities
as shown on the records of the depositary. We also expect that payments by the depositarys participants to owners of beneficial interests in the book-entry debt securities will be governed by standing customer instructions and customary
practices and will be the responsibility of those participants.
Certificated Debt Securities.
Except as indicated below for
payments of interest at maturity, redemption or repayment, the paying agent will make payments of interest either:
|
|
|
by check mailed to the address of the person entitled to payment as shown on the security register; or
|
|
|
|
by wire transfer to an account designated by a holder, if the holder has given written notice not later than 10 calendar days prior to the applicable interest payment date. (Section 307)
|
Payments of principal, premium, if any, and interest, if any, upon maturity, redemption or repayment on a debt security will be made in
immediately available funds against presentation and surrender of the debt security at the office of the paying agent.
Redemption and Repayment of
Debt Securities
Optional Redemption by Us
.
If applicable, the prospectus supplement will indicate the terms of
our option to redeem the debt securities. We will mail a notice of redemption to each holder which, in the case of global securities, will be the depositary, as holder of the global securities, by first-class mail, postage prepaid, at least
30 days and not more than 60 days prior to the date fixed for redemption, or within the redemption notice period designated in the applicable prospectus supplement, to the address of each holder as that address appears upon the books maintained
by the security registrar. The debt securities will not be subject to any sinking fund.
A partial redemption of the debt securities may
be effected by such method as the applicable trustee shall deem fair and appropriate and may provide for the selection for redemption of a portion of the principal amount of debt securities held by a holder equal to an authorized denomination. If we
redeem less than all of the debt securities and the debt securities are then held in book-entry form, the redemption will be made in accordance with the depositarys customary procedures. We have been advised that it is DTCs practice to
determine by the lot the amount of each participant in the debt securities to be redeemed.
Unless we default in the payment of the
redemption price, on and after the redemption date interest will cease to accrue on the debt securities called for redemption.
Repayment at Option of Holder.
If applicable, the prospectus supplement relating to a series of debt securities will indicate
that the holder has the option to have us repay a debt security of that series on a date or dates specified prior to its stated maturity date. Unless otherwise specified in the applicable prospectus supplement, the repayment price will be equal to
100% of the principal amount of the debt security, together with accrued interest to the date of repayment.
14