Acceleration of Maturity Date; Rescission and Annulment. If an Event of Default occurs and is continuing (other than an Event of Default specified in Section 6.1(d) or Section 6.1(e) relating to the Company, any of the Guarantors or any of the Company’s Significant Subsidiaries), then in every such case, unless the principal of all of the Notes shall have already become due and payable, either the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes then outstanding, by notice in writing to the Company (and to the Trustee if such notice is given by Holders) (an “Acceleration Notice”), may declare all principal, premium (if any), and accrued interest (and Liquidated Damages, if any) thereon to be due and payable immediately. If an Event of Default specified in Section 6.1(d) or Section 6.1(e), relating to the Company, any of the Guarantors or any of the Company’s Significant Subsidiaries occurs, all principal and accrued interest (and Liquidated Damages, if any) thereon will be immediately due and payable on all outstanding Notes without any declaration or other act on the part of the Trustee or the Holders. The Holders of a majority in aggregate principal amount of the Notes, by written notice to the Trustee, may rescind any acceleration and its consequences if the rescission would not conflict with any judgment or decree and if all existing Events of Default (other than the non-payment of the principal, premium, if any, and interest and Liquidated Damages, if any, on the Notes that have become due solely because of such acceleration) have been cured or waived as provided in Section 6.12.
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Samples: Indenture (MTR Gaming Group Inc)
Acceleration of Maturity Date; Rescission and Annulment. If an Event of Default occurs and is continuing (other than an Event of Default specified in Section 6.1(d6.1(iv) or Section 6.1(e6.1(v) relating to the Company, any of the Guarantors Company or any of the Company’s its Significant Subsidiaries), then in every such case, unless the principal of all of the Notes shall have already become due and payable, either the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes then outstanding, by notice in writing to the Company specifying the respective Event of Default (and to the Trustee if such notice is given by Holders) (an “"Acceleration Notice”"), may declare all principal, premium (if any)determined as set forth below, and accrued interest (and Liquidated Damages, if any) thereon to be due and payable immediately. If an Event of Default specified in Section 6.1(d6.1(iv) or Section 6.1(e), 6.1(v) relating to the Company, any of the Guarantors Company or any of the Company’s its Significant Subsidiaries occurs, all principal and accrued interest (and Liquidated Damages, if any) thereon will shall be immediately due and payable on all outstanding Notes without any declaration or other act on the part of the Trustee or the Holders. The Holders of a majority in aggregate principal amount of the then outstanding Notes, by written notice to the Trustee, may rescind any acceleration and its consequences if the rescission recission would not conflict with any judgment or decree and if all existing Events of Default (Default, other than the non-payment of the principalprincipal of, premium, if any, and interest and or Liquidated Damages, if any, on the Notes that have become due solely because of such the acceleration) , have been cured or waived as provided in Section 6.12.
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Samples: Indenture (Penton Media Inc)
Acceleration of Maturity Date; Rescission and Annulment. If Subject to Section 11.2(c), if an Event of Default occurs and is continuing (other than an Event of Default specified in Section 6.1(d6.1(h) or Section 6.1(e(i) relating to the CompanyCompany or its Subsidiaries) occurs and is continuing, any of the Guarantors or any of the Company’s Significant Subsidiaries)then, then and in every such case, unless the principal of all of the Notes Debentures shall have already become due and payable, either the Trustee or the Holders of at least not less than 25% in aggregate principal amount of the Notes Debentures then outstanding, by a notice in writing to the Company (and to the Trustee if such notice is given by Holders) (an “"Acceleration Notice”"), may declare all principalof the principal of the Debentures, premium (if any)determined as set forth below, and including in each case accrued interest (and Liquidated Damagesthereon, if any) thereon to be due and payable immediately. If an Event of Default specified in Section 6.1(d6.1(h) or Section 6.1(e), (i) relating to the Company, any of the Guarantors Company or any of the Company’s Significant its Subsidiaries occurs, all principal and accrued interest (and Liquidated Damagesof, premium, if any) thereon will , and accrued and unpaid interest on the Debentures shall be immediately due and payable on all outstanding Notes Debentures without any declaration or other act on the part of the Trustee or the Holders. The At any time after such a declaration or acceleration is made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter provided in this Article VI, the Holders of a majority in aggregate principal amount of the NotesDebentures then outstanding, by written notice to the Company and the Trustee, may waive, rescind and annul on behalf of all Holders, any such declaration of acceleration and its consequences if the rescission would not conflict with any judgment or decree and if all existing Events of Default (other than the non-payment of the principal, premium, if any, and interest and Liquidated Damages, if any, on the Notes that have become due solely because of such acceleration) have been cured or waived as provided in Section 6.12.if:
Appears in 1 contract
Samples: Indenture (Mercury Air Group Inc)
Acceleration of Maturity Date; Rescission and Annulment. If an Event of Default occurs and is continuing (other than an Event of Default specified in Section 6.1(d6.1(e) or Section 6.1(e(f) relating to the CompanyCompany or its Subsidiaries) occurs and is continuing, any of the Guarantors or any of the Company’s Significant Subsidiaries)then, then and in every such case, unless the principal of all of the Notes Securities shall have already become due and payable, either the Trustee or the Holders of at least not less than 25% in aggregate principal amount of the Notes then outstandingoutstanding Securities, by a notice in writing to the Company (and to the Trustee if such notice is given by Holders) (an “"Acceleration Notice”"), may declare all principal, premium of the principal of the Securities (or the Change of Control Purchase Price if anythe Event of Default includes failure to pay the Change of Control Purchase Price), and determined as set forth below, including in each case accrued interest (and Liquidated Damagesthereon, if any) thereon to be due and payable immediately. If an Event of Default specified in Section 6.1(d6.1(e) or Section 6.1(e), (f) relating to the Company, any of the Guarantors Company or any of the Company’s Significant its Subsidiaries occurs, all principal and accrued interest (and Liquidated Damages, if any) thereon will on the Securities shall be immediately due and payable on all outstanding Notes Securities without any declaration or other act on the part of the Trustee or the Holders. The At any time after such a declaration of acceleration being made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter provided in this Article VI, the Holders of a majority in aggregate principal amount of the Notesthen outstanding Securities, by written notice to the Company and the Trustee, may rescind any acceleration and its consequences if the rescission would not conflict with any judgment or decree and if all existing Events of Default (other than the non-payment of the principal, premium, if any, and interest and Liquidated Damages, if anywaive, on the Notes that have become due solely because behalf of all Holders, any such acceleration) have been cured or waived as provided in Section 6.12.declaration of acceleration if:
Appears in 1 contract
Samples: Indenture (Transtexas Gas Corp)
Acceleration of Maturity Date; Rescission and Annulment. If Subject to Section 11.2(c), if an Event of Default occurs and is continuing (other than an Event of Default specified in Section 6.1(d6.1(h) or Section 6.1(e(i) relating to the CompanyCompany or its Subsidiaries) occurs and is continuing, any of the Guarantors or any of the Company’s Significant Subsidiaries)then, then and in every such case, unless the principal of all of the Notes Debentures shall have already become due and payable, either the Trustee or the Holders of at least not less than 25% in aggregate principal amount of the Notes Debentures then outstanding, by a notice in writing to the Company (and to the Trustee if such notice is given by Holders) (an “"Acceleration Notice”"), may declare all principalof the principal of the Debentures, premium (if any)determined as set forth below, and including in each case accrued interest (and Liquidated Damagesthereon, if any) thereon to be due and payable immediately. If an Event of Default specified in Section 6.1(d6.1(h) or Section 6.1(e), (i) relating to the Company, any of the Guarantors Company or any of the Company’s Significant its Subsidiaries occurs, all principal and accrued interest (and Liquidated Damagesof, premium, if any) thereon will , and accrued and unpaid interest on the Debentures shall be immediately due and payable on all outstanding Notes Debentures without any declaration or other act on the part of the Trustee or the Holders. The At any time after such a declaration of acceleration is made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter provided in this Article VI, the Holders of a majority in aggregate principal amount of the NotesDebentures then outstanding, by written notice to the Company and the Trustee, may waive, rescind and annul on behalf of all Holders, any such declaration of acceleration and its consequences if the rescission would not conflict with any judgment or decree and if all existing Events of Default (other than the non-payment of the principal, premium, if any, and interest and Liquidated Damages, if any, on the Notes that have become due solely because of such acceleration) have been cured or waived as provided in Section 6.12.if:
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Acceleration of Maturity Date; Rescission and Annulment. If an Event of Default occurs and is continuing (other than an Event of Default specified in Section 6.1(d6.1(e) or Section 6.1(e(f) relating to the CompanyCompany or its Subsidiaries) occurs and is continuing, any of the Guarantors or any of the Company’s Significant Subsidiaries)then, then and in every such case, unless the principal of all of the Notes shall have already become due and payable, either the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes then outstandingMajority Holders, by a notice in writing to the Company and to the Disbursement Agent (and to the Trustee if such notice is given by Holders) (an “Acceleration Notice”"ACCELERATION NOTICE"), may declare all principalof the principal of the Notes determined as set forth below, premium (if any), and including in each case accrued interest (and Liquidated Damagesthereon, if any) thereon or, as appropriate, the Change of Control Purchase Price, to be due and payable immediately. If an Event of Default specified in Section 6.1(d6.1(e) or Section 6.1(e), (f) relating to the Company, any of the Guarantors Company or any of the Company’s Significant its Subsidiaries occurs, all principal and accrued interest (and Liquidated Damages, if any) thereon will on the Notes shall be immediately due and payable on all outstanding Notes without any declaration or other act on the part of the Trustee or the Holders. The Holders At any time prior to such a declaration of a majority in aggregate principal amount of acceleration being made, the NotesMajority Holders, by written notice to the Company and the Trustee, may rescind waive, on behalf of all Holders, any acceleration and its consequences default or potential default if the rescission would not conflict Company has paid or deposited with any judgment or decree the Trustee a sum sufficient to pay:
(1) all accrued but unpaid interest on all Notes,
(2) the principal of (and if all existing Events of Default (other than the non-payment of the principal, premium, if any, applicable to) any Notes and accrued but unpaid interest and Liquidated Damages, if any, on thereon at the Notes rate borne by the Notes,
(3) to the extent that have become due solely because payment of such accelerationinterest is lawful, interest upon overdue interest at the rate borne by the Notes, and
(4) have been cured all sums paid or waived as provided in Section 6.12advanced by the Trustee hereunder and the compensation, expenses, disbursements and advances of the Trustee, its agents and counsel.
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