We will pay interest on the 20 notes semi-annually in arrears
on and of each year, commencing on ,
2020, to the record holders at the close of business on the preceding and (whether or not such record date
is a business day), respectively.
We will pay interest on the 20 notes semi-annually in arrears
on and of each year, commencing on ,
2020, to the record holders at the close of business on the preceding and (whether or not such record date
is a business day), respectively.
We will pay interest on the 20 notes semi-annually in arrears
on and of each year, commencing on ,
2020, to the record holders at the close of business on the preceding and (whether or not such record date
is a business day), respectively.
We will pay interest on the 20 notes semi-annually in arrears
on and of each year, commencing on ,
2020, to the record holders at the close of business on the preceding and (whether or not such record date
is a business day), respectively.
We will pay interest on the 20 notes semi-annually in arrears
on and of each year, commencing on ,
2020, to the record holders at the close of business on the preceding and (whether or not such record date
is a business day), respectively.
We will pay interest on the 20 notes semi-annually in arrears
on and of each year, commencing on ,
2020, to the record holders at the close of business on the preceding and (whether or not such record date
is a business day), respectively.
For a full semi-annual interest period, interest on the notes will be computed on the basis of a 360-day year consisting of twelve 30-day months.
If any interest payment date,
any redemption date, the applicable maturity date or any other date on which a payment on the notes is due is not a business day (as defined below), the payment due on such interest payment date, redemption date, maturity date or other date, as
applicable, will be made on the next succeeding business day with the same force and effect as if made on such interest payment date, redemption date, maturity date or other date, as applicable, and no additional interest shall accrue on the amount
so payable for the period from and after such interest payment date, redemption date, maturity date or other date, as the case may be, to such next succeeding business day.
The TWDC Enterprises Guarantee
The Guarantor will fully
and unconditionally guarantee, on a senior unsecured basis, the full and punctual payment of the principal of, premium, if any, interest on, and all other amounts payable under the notes when the same becomes due and payable, whether at maturity or
upon redemption, upon acceleration or otherwise. If for any reason we do not make any required payment in respect of the notes of any series when due, the Guarantor will on demand pay the unpaid amount at the same place and in the same manner that
applies to payments made by us under the indenture. The guarantee is of payment, performance and compliance and not of collection.
The Guarantor will
automatically and unconditionally be released and discharged from all obligations under the guarantee under certain circumstances specified under the caption Description of Debt Securities of The Walt Disney CompanyThe TWDC
Enterprises Guarantee in the accompanying prospectus.
Consequences of Holding Company Status
Operations are conducted almost entirely through our subsidiaries. Accordingly, our cash flow and our ability to service our debt, including the notes, are
dependent upon the earnings of our subsidiaries and the distribution of those earnings to us, whether by dividends, loans or otherwise. The payment of dividends and the making of
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