Common use of ACCELERATION OF MATURITY OF PRINCIPAL ON DEFAULT Clause in Contracts

ACCELERATION OF MATURITY OF PRINCIPAL ON DEFAULT. If any one or more of the above-described events of default shall happen with respect to Securities of any series at the time outstanding, then, and in each and every such case, during the continuance of any such event of default, the Trustee or the holders of 25% or more in principal amount of the Securities of such series then outstanding may, and upon the written request of the holders of a majority in principal amount of such Securities then outstanding the Trustee shall, declare the principal of all the Securities of such series then outstanding, if not then due and payable, to be due and payable, and upon any such declaration the same shall become and be immediately due and payable, anything in this Indenture or in the Securities of such series contained to the contrary notwithstanding. This provision, however, is subject to the condition that, if at any time after the principal of all the Securities of such series shall have been so declared to be due and payable, all arrears of interest if any, upon all the Securities of such series (with interest, to the extent that interest thereon shall be legally enforceable, on any overdue installment of interest at the rate borne by the Securities of such series) and the reasonable charges and expenses of the Trustee, its agents and attorneys, and all other sums payable under this Indenture (except the principal of the Securities of such series which would not be due and payable were it not for such declaration), shall be paid by the Company, and every other default and event of default under this Indenture shall have been made good to the reasonable satisfaction of the Trustee or of the holders of a majority in principal amount of the Securities of such series then outstanding, or provision deemed by the Trustee or by such holders to be adequate therefor shall have been made, then and in every such case the holders of a majority in principal amount of the Securities of such series then outstanding may, on behalf of the holders of all the Securities of such series, waive the event of default by reason of which the principal of the Securities of such series shall have been so declared to be due and payable and may rescind and annul such declaration and its consequences; but no such waiver, rescission or annulment shall extend to or affect any subsequent default or event of default or impair any right consequent thereon. Any declaration by the Trustee pursuant to this Section 6.02 shall be by written notice to the Company, and any declaration or waiver by the holders of Securities of any series pursuant to this Section 6.02 shall be by written notice to the Company and the Trustee. The Company and the Trustee may, to the extent provided in Section 13.01, enter into one or more indentures supplemental hereto with respect to any series of the Securities which may provide for additional or different events of default with respect to such series of Securities.

ACCELERATION OF MATURITY OF PRINCIPAL ON DEFAULT. If any one or more of the above-described events Events of default Default (other than an Event of Default specified in clauses (d) and (e) above with respect to the Company) shall happen with respect to Securities of any series at the time outstanding, then, and in each and every such case, during the continuance of any such event Event of defaultDefault, the Trustee or the holders of 25% or more in principal amount of the Securities of such series then outstanding may, and upon the written request of the holders of a majority 25% or more in principal amount of such any series of Securities then outstanding the Trustee shall, declare the principal of all the Securities of such series then outstanding, if not then due and payable, to be due and payable, and upon any such declaration the same shall become and be immediately due and payable, anything in this Indenture or in the Securities of such series contained to the contrary notwithstanding; provided, however, (i) that if an Event of Default specified in clauses (d) and (e) above occurs with respect to the Company, then the unpaid principal of and accrued and unpaid interest on all the Securities then outstanding shall become immediately due and payable without any further act on the part of or notice from the Trustee and (ii) upon the acceleration of any series of Securities pursuant to this Section 9.02, the principal of all other series of Securities then outstanding shall become immediately due and payable without any further act on the part of or notice from the Trustee; provided further that, (1) with respect to the Series A Notes, the principal amount shall be 100% of principal amount and Section 3.05(a) shall be unavailable and (2) with respect to the Series B Notes and the Series C Notes, Sections 4.05 42 and 5.05 govern and Sections 4.03 and 5.03 shall be unavailable. This provision, however, is subject to the condition that, if at any time after the principal of all the Securities of such series shall have been so declared to be due and payable, all arrears of interest if any, upon all the Securities of such series (with interest, to the extent that interest thereon shall be legally enforceable, on any overdue installment of interest at the rate borne by the Securities of such series) and the reasonable charges and expenses of the Trustee, its agents and attorneys, and all other sums payable under this Indenture (except the principal of the Securities of such series which would not be due and payable were it not for such declaration), shall be paid by the Company, and every other default and event Event of default Default under this Indenture shall have been made good cured to the reasonable satisfaction of the Trustee or of the holders of a majority in principal amount of the Securities of such series then outstanding, or provision deemed by the Trustee or by such holders to be adequate therefor therefore shall have been made, then and in every such case the holders of a majority in principal amount of the Securities of such series then outstanding may, on behalf of the holders of all the Securities of such series, waive the event Event of default Default by reason of which the principal of the Securities of such series shall have been so declared to be due and payable and may rescind and annul such declaration and its consequences; but no such waiver, rescission or annulment shall extend to or affect any subsequent default or event Event of default Default or impair any right consequent thereon. Any declaration by the Trustee pursuant to this Section 6.02 9.02 shall be by written notice to the Company, and any declaration or waiver by the holders of Securities of any series pursuant to this Section 6.02 9.02 shall be by written notice to the Company and the Trustee. The Company and the Trustee may, to the extent provided in Section 13.0115.01, enter into one or more indentures supplemental hereto with respect to any series of the Securities which may provide for additional or different events of default with respect to such series of Securities.

ACCELERATION OF MATURITY OF PRINCIPAL ON DEFAULT. If any one or more of the above-described events of default shall happen with respect to Securities of any series at the time outstanding, then, and in each and every such case, during the continuance of any such event of default, the Trustee or the holders of 25% or more in principal amount of the Securities of such series then outstanding may, and upon the written request of the holders of a majority in principal amount of such Securities then outstanding the Trustee shall, declare the principal of all the Securities of such series then outstanding, if not then due and payable, to be due and payable, and upon any such declaration the same shall become and be immediately due and payable, anything in this Indenture or in the Securities of such series contained to the contrary notwithstanding. This provision, however, is subject to the condition that, if at any time after the principal of all the Securities of such series shall have been so declared to be due and payable, all arrears of interest if any, upon all the Securities of such series (with interest, to the extent that interest thereon shall be legally enforceable, on any overdue installment instalment of interest at the rate borne by the Securities of such series) and the reasonable charges and expenses of the Trustee, its agents and attorneys, and all other sums payable under this Indenture (except the principal of the Securities of such series which would not be due and payable were it not for such declaration), shall be paid by the Company, and every other default and event of default under this Indenture shall have been made good to the reasonable satisfaction of the Trustee or of the holders of a majority in principal amount of the Securities of such series then outstanding, or provision deemed by the Trustee or by such holders to be adequate therefor shall have been made, then and in every such case the holders of a majority in principal amount of the Securities of such series then outstanding may, on behalf of the holders of all the Securities of such series, waive the event of default by reason of which the principal of the Securities of such series shall have been so declared to be due and payable and may rescind and annul such declaration and its consequences; but no such waiver, rescission or annulment shall extend to or affect any subsequent default or event of default or impair any right consequent thereon. Any declaration by the Trustee pursuant to this Section 6.02 shall be by written notice to the Company, and any declaration or waiver by the holders of Securities of any series pursuant to this Section 6.02 shall be by written notice to the Company and the Trustee. The Company and the Trustee may, to the extent provided in Section 13.01, enter into one or more indentures supplemental hereto with respect to any series of the Securities which may provide for additional or different events of default with respect to such series of Securities.

ACCELERATION OF MATURITY OF PRINCIPAL ON DEFAULT. If any one or more of the above-described events of default shall happen with respect to Securities of any series at the time outstanding, then, and in each and every such case, during the continuance of any such event of default, the Trustee or the holders of 25% or more in principal amount of the Securities of such series then outstanding may, and upon the written request of the holders of a majority in principal amount of such Securities then outstanding the Trustee shall, declare the principal of all the Securities of such series then outstanding, if not then due and payable, to be due and payable, and upon any such declaration the same shall become and be immediately due and payable, anything in this Indenture or in the Securities of such series contained to the contrary notwithstanding. This provision, however, is subject to the condition that, if at any time after the principal of all the Securities of such series shall have been so declared to be due and payable, all arrears of interest if any, upon all the Securities of such series (with interest, to the extent that interest thereon shall be legally enforceable, on any overdue installment instalment of interest at the rate borne by the Securities of such series) and the reasonable charges and expenses of the Trustee, its agents and attorneys, and all other sums payable under this Indenture (except the principal of the Securities of such series which would not be due and payable were it not for such declaration), shall be paid by the Company, and every other default and event of default under this Indenture shall have been made good to the reasonable satisfaction of the Trustee or of the holders of a majority in principal amount of the Securities of such series then outstanding, or provision deemed by the Trustee or by such holders to be adequate therefor shall have been made, then and in every such case the holders of a majority in principal amount of the Securities of such series then outstanding may, on behalf of the holders of all the Securities of such series, waive the event of default by reason of which the principal of the Securities of such series shall have been so declared to be due and payable and may rescind and annul such declaration and its consequences; but no such waiver, rescission or annulment shall extend to or affect any subsequent default or event of default or impair any right consequent thereon. Any declaration by the Trustee pursuant to this Section 6.02 shall be by written notice to the Company, and any declaration or waiver by the holders of Securities of any series pursuant to this Section 6.02 shall be by written notice to the Company and the Trustee. The Company and the Trustee may, to the extent provided in Section 13.01, enter into one or more indentures supplemental hereto with respect to any series of the Securities which may provide for additional or different events of default with respect to such series of Securities.. 29

ACCELERATION OF MATURITY OF PRINCIPAL ON DEFAULT. If any one or more of the above-described events Events of default Default (other than an Event of Default specified in clauses (d) and (e) above with respect to the Company) shall happen with respect to Securities of any series at the time outstanding, then, and in each and every such case, during the continuance of any such event Event of defaultDefault, the Trustee or the holders of 25% or more in principal amount of the Securities of such series then outstanding may, and upon the written request of the holders of a majority 25% in principal amount of such any series of Securities then outstanding the Trustee shall, declare the principal of all the Securities of such series then outstanding, if not then due and payable, to be due and payable, and upon any such declaration the same shall become and be immediately due and payable, anything in this Indenture or in the Securities of such series contained to the contrary notwithstanding; provided, however, (i) that if an Event of Default specified in clauses (d) and (e) above occurs with respect to the Company, then the unpaid principal of and accrued and unpaid interest on all the Securities then outstanding shall become immediately due and payable without any further act on the part of or notice from the Trustee and (ii) upon the acceleration of any series of Securities pursuant to this Section 9.02, the principal of all other series of Securities then outstanding shall become immediately due and payable without any further act on the part of or notice from the Trustee; provided further that, (1) with respect to the Series A Notes, the principal amount shall be 100% of principal amount and Section 3.05 shall be unavailable and (2) with respect to the Series B Notes or the Series C Notes, Section 4.05 and 5.05 govern and 4.03, 4.04, 5.03 and 5.04 shall be unavailable, or inapplicable, as appropriate. This provision, however, is subject to the condition that, if at any time after the principal of all the Securities of such series shall have been so declared to be due and payable, all arrears of interest if any, upon all the Securities of such series (with interest, to the extent that interest thereon shall be legally enforceable, on any overdue installment of interest at the rate borne by the Securities of such series) and the reasonable charges and expenses of the Trustee, its agents and attorneys, and all other sums payable under this Indenture (except the principal of the Securities of such series which would not be due and payable were it not for such declaration), shall be paid by the Company, and every other default and event Event of default Default under this Indenture shall have been made good cured to the reasonable satisfaction of the Trustee or of the holders of a majority in principal amount of the Securities of such series then outstanding, or provision deemed by the Trustee or 38 by such holders to be adequate therefor therefore shall have been made, then and in every such case the holders of a majority in principal amount of the Securities of such series then outstanding may, on behalf of the holders of all the Securities of such series, waive the event Event of default Default by reason of which the principal of the Securities of such series shall have been so declared to be due and payable and may rescind and annul such declaration and its consequences; but no such waiver, rescission or annulment shall extend to or affect any subsequent default or event Event of default Default or impair any right consequent thereon. Any declaration by the Trustee pursuant to this Section 6.02 9.02 shall be by written notice to the Company, and any declaration or waiver by the holders of Securities of any series pursuant to this Section 6.02 9.02 shall be by written notice to the Company and the Trustee. The Company and the Trustee may, to the extent provided in Section 13.0115.01, enter into one or more indentures supplemental hereto with respect to any series of the Securities which may provide for additional or different events of default with respect to such series of Securities.