Common use of Acceleration of Maturity, Rescission and Amendment Clause in Contracts

Acceleration of Maturity, Rescission and Amendment. If an Event of Default (other than an Event of Default specified in clauses (5), (6) and (7) of Section 6.1 above) shall have occurred and is continuing, either the Trustee or the Holders of at least 25% in aggregate principal amount of the Outstanding Notes may declare all unpaid principal of and accrued interest on all Notes to be due and payable immediately, by a notice in writing to Grupo Aval Limited, (and to the Trustee, if notice is given by the Holders), stating that such notice is an “Acceleration Notice,” and upon any such declaration such amounts shall become due and payable immediately. If an Event of Default specified in clauses (5), (6) and (7) of Section 6.1 shall have occurred, the principal of and accrued interest on all Outstanding Notes, and Additional Amounts, if any, shall become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. The Notes owned by Grupo Aval Limited, Grupo Aval or any of their Affiliates shall be deemed not to be outstanding for, among other purposes, declaring the acceleration of the maturity of the Notes. At any time after a declaration of acceleration has been 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 principal amount of the Outstanding Notes by written notice to Grupo Aval Limited, with a copy to Grupo Aval, and the Trustee may rescind or annul such declaration if:

Acceleration of Maturity, Rescission and Amendment. If an Event of Default (other than an Event of Default specified in clauses (5), (6) and clause (7) of Section 6.1 above6.1) shall have occurred occurs and is continuing, either the Trustee or the Holders of at least not less than 25% in aggregate principal amount of the Outstanding Notes may declare all unpaid principal of and accrued interest on (including Additional Interest, if any) on, and any Additional Amounts due with respect to, all Notes to be due and payable immediately, by a notice in writing to Grupo Aval Limitedthe Company or the Guarantor, as the case may be (and to the Trustee, if the notice is given by the Holders), stating that such notice is an “Acceleration Noticeacceleration notice,” and upon any such declaration such amounts shall become due and payable immediately. If an Event of Default specified in clauses (5), (6) and clause (7) of Section 6.1 shall have occurredoccurs and is continuing, then the principal of and accrued interest on all Outstanding Notes, and (including Additional AmountsInterest, if any) on, and any Additional Amounts due with respect to, all Notes shall become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. The Notes owned by Grupo Aval Limited, Grupo Aval or any of their Affiliates shall be deemed not to be outstanding for, among other purposes, declaring the acceleration of the maturity of the Notes. At any time after a declaration of acceleration has been 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 VIArticle, the Holders of a majority in principal amount of the Outstanding Notes by written notice to Grupo Aval Limited, with a copy to Grupo Aval, the Company and the Trustee may rescind or annul such declaration if:

Acceleration of Maturity, Rescission and Amendment. If an Event of Default (other than an Event of Default specified in clauses clause (5), (6) and (7) 8) of Section 6.1 above6.1) shall have occurred occurs and is continuing, either the Trustee or the Holders of at least not less than 25% in aggregate principal amount of the Outstanding Notes may declare all unpaid principal of and accrued interest on (including Additional Interest, if any) on, and any Additional Amounts due with respect to, all Notes to be due and payable immediately, by a notice in writing to Grupo Aval Limitedthe Company or the Guarantor, as the case may be (and to the Trustee, if the notice is given by the Holders), stating that such notice is an “Acceleration Noticeacceleration notice,” and upon any such declaration such amounts shall become due and payable immediately. If an Event of Default specified in clauses clause (5), (6) and (7) 8) of Section 6.1 shall have occurredoccurs and is continuing, then the principal of and accrued interest on all Outstanding Notes, and (including Additional AmountsInterest, if any) on, and any Additional Amounts due with respect to, all Notes shall become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. The Notes owned by Grupo Aval Limited, Grupo Aval or any of their Affiliates shall be deemed not to be outstanding for, among other purposes, declaring the acceleration of the maturity of the Notes. At any time after a declaration of acceleration has been 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 VIArticle, the Holders of a majority in principal amount of the Outstanding Notes by written notice to Grupo Aval Limited, with a copy to Grupo Aval, the Company and the Trustee may rescind or annul such declaration if: