So long as no Event of Default has occurred and is continuing, The Southern Company may defer interest payments on the Series 2015A Junior Subordinated Notes on one or more occasions for up to 40 consecutive quarterly periods as described in this Prospectus Supplement. Deferred interest payments will accrue additional interest at a rate equal to the interest rate then applicable to the Series 2015A Junior Subordinated Notes, compounded quarterly, to the extent permitted by applicable law.
So long as no event of default with respect to the Debentures has occurred and is continuing, we have the right, on one or more occasions, to defer the payment of interest on the Debentures for up to 40 consecutive quarterly periods without giving rise to an event of default. Any deferred interest payments will bear additional interest at a rate of 5.625% per year, compounded quarterly, to the extent permitted by applicable law. See “Description of the Debentures—Option to Defer Interest Payments.”
This issue contains the following provision which is not unusual for utility baby bonds.
So long as no event of default has occurred and is continuing, we may defer interest payments on one or more occasions for up to 40 consecutive quarterly periods, as described in this prospectus supplement. Any deferred interest payments will bear additional interest at the rate of 5.875% per year, to the extent legally permitted.
This issue contains the following provision which is not unusual for utility baby bonds.
So long as no event of default has occurred and is continuing, we may defer interest payments on one or more occasions for up to 40 consecutive quarterly periods, as described in this prospectus supplement. Any deferred interest payments will bear additional interest at the rate of 5.625% per year, to the extent legally permitted.
