Common use of Acceleration of Maturity; Rescission Clause in Contracts

Acceleration of Maturity; Rescission. (a) If an Event of Default (other than an Event of Default specified in clause (8) or (9) of Section 6.01 hereof with respect to the Company) occurs and is continuing, then and in every such case the Trustee or the Holders of not less than 25% in aggregate principal amount of the outstanding Notes may declare the principal of the Notes and any accrued interest on the Notes to be due and payable immediately by a notice in writing to the Company (and to the Trustee if given by Holders); provided, however, that after such acceleration, the Holders of a majority in aggregate principal amount of the outstanding Notes may rescind and annul such acceleration if (i) the rescission would not conflict with any judgment or decree and (ii) all Events of Default, other than the nonpayment of accelerated principal amount of or interest on the Notes, have been cured or waived as provided in this Indenture. No such rescission shall affect any subsequent Default or impair any right consequent thereto.

Appears in 6 contracts

Samples: Indenture (Alliance Data Systems Corp), Indenture (Alliance Data Systems Corp), Indenture (Alliance Data Systems Corp)

AutoNDA by SimpleDocs

Acceleration of Maturity; Rescission. (a) If an any Event of Default (other than an Event of Default specified in clause (8) or (9) of Section 6.01 hereof with respect to the Company) occurs and is continuingcontinuing under this Indenture, then and in every such case either the Trustee or the Holders of not less than at least 25% in aggregate principal amount of the outstanding Notes then outstanding, may declare the principal of the Notes and any accrued interest on the all Notes to be due and payable immediately by a notice in writing to the Company (Issuer and to the Trustee if given Trustee, in the case of notice by Holders), specifying the respective Event of Default and that it is a “notice of acceleration” and the same shall become immediately due and payable; provided, however, that that, notwithstanding the foregoing, if an Event of Default specified in Section 6.01(7) occurs with respect the Issuer, all outstanding Notes shall become due and payable without further action or notice. Notwithstanding the foregoing, if after such accelerationacceleration but before a judgment or decree based on such acceleration is obtained by the Trustee, the Holders of a majority in aggregate principal amount of the outstanding Notes may rescind and annul such acceleration if (i) the rescission would not conflict with any judgment or decree and (ii) all Events of Default, other than the nonpayment of accelerated principal amount of or interest on the Notes, have been cured or waived as provided in this Indenture. No such rescission shall affect any subsequent Default or impair any right consequent thereto.if:

Appears in 4 contracts

Samples: Indenture (Vail Resorts Inc), Indenture (Brinks Co), Indenture (James Hardie Industries PLC)

Acceleration of Maturity; Rescission. (a) If an Event of Default (other than an Event of Default specified in clause (8) or (9) of Section 6.01 hereof with respect to the Company) occurs and is continuing, then and in every such case the Trustee or the Holders of not less than 25% in aggregate principal amount of the outstanding Notes may declare the principal of the Notes and any accrued interest on the Notes to be due and payable immediately by a notice in writing to the Company (and to the Trustee if given by Holders); provided, however, that after such acceleration, the Holders of a majority in aggregate principal amount of the outstanding Notes may rescind and annul such acceleration if (i) the rescission would not conflict with any judgment or decree and (ii) all Events of Default, other than the nonpayment of accelerated principal amount of or interest on the Notes, have been cured or waived as provided in this Indenture. No such rescission shall affect any subsequent Default or impair any right consequent thereto.

Appears in 2 contracts

Samples: Indenture (Alliance Data Systems Corp), Indenture (Alliance Data Systems Corp)

Acceleration of Maturity; Rescission. (a) If an any Event of Default (other than an Event of Default specified in clause (8) or (9) of Section 6.01 hereof with respect to the Company) occurs and is continuingcontinuing under this Indenture with re- spect to the Notes of any series, then and in every such case either the Trustee or the Holders of not less than at least 25% in aggregate principal amount of the outstanding Notes of such series then outstanding, may declare the principal all Notes of the Notes and any accrued interest on the Notes such series to be due and payable immediately by a notice in writing to the Company (Issuer and to the Trustee if given Trustee, in the case of notice by Holders), specifying the respective Event of Default and that it is a “notice of accel- eration” and the same shall become immediately due and payable; provided, however, that that, notwithstanding the foregoing, if an Event of Default specified in Section 6.01(7) occurs with respect to the Issuer, all outstanding Notes shall become due and payable without further ac- tion or notice. Notwithstanding the foregoing, if after such accelerationacceleration but before a judgment or decree based on such acceleration is obtained by the Trustee, the Holders of a majority in aggregate principal amount of the outstanding Notes of a series may rescind and annul such acceleration if (i) the rescission would not conflict with any judgment or decree and (ii) all Events of Default, other than the nonpayment of accelerated principal amount of or interest on the Notes, have been cured or waived as provided in this Indenture. No such rescission shall affect any subsequent Default or impair any right consequent thereto.ac- celeration if:

Appears in 1 contract

Samples: James Hardie Industries PLC

Acceleration of Maturity; Rescission. (a) If an Event of Default (other than an Event of Default specified in clause (8) 7) or (9) 8) of Section 6.01 hereof with respect to the Company) occurs and is continuing, then and in every such case the Trustee or the Holders of not less than 25% in aggregate principal amount of the outstanding Notes may declare the principal of the Notes and any accrued interest on the Notes to be due and payable immediately by a notice in writing to the Company (and to the Trustee if given by Holders); provided, however, that after such acceleration, but before a judgment or decree based on acceleration, the Holders of a majority in aggregate principal amount of the outstanding Notes may rescind and annul such acceleration if (i) the rescission would not conflict with any judgment or decree and (ii) all Events of Default, other than the nonpayment of accelerated principal amount of or interest (including Additional Interest, if any) on the Notes, have been cured or waived as provided in this Indenture. No such rescission shall affect any subsequent Default or impair any right consequent thereto.

Appears in 1 contract

Samples: Supplemental Indenture (Valassis Communications Inc)

Acceleration of Maturity; Rescission. (a) If an Event of Default (other than an Event of Default specified in clause (8) or (9) of Section 6.01 hereof with respect to the Company) occurs and is continuing, then and in every such case the Trustee or the Holders of not less than 25% in aggregate principal amount of the outstanding Notes may declare the principal of the Notes and any accrued interest on the Notes to be due and payable immediately by a notice in writing to the Company (and to the Trustee if given by Holders); provided, however, that after such acceleration, the Holders of a majority in aggregate principal amount of the outstanding Notes may rescind and annul such acceleration if (i) the rescission would not conflict with any judgment or decree and (ii) all Events of Default, other than the nonpayment of accelerated principal amount of or interest (including Additional Interest, if any) on the Notes, have been cured or waived as provided in this Indenture. No such rescission shall affect any subsequent Default or impair any right consequent thereto.

Appears in 1 contract

Samples: Supplemental Indenture (Fti Consulting Inc)

Acceleration of Maturity; Rescission. (a) If an any Event of Default (other than an Event of Default specified in clause (8) or (9) of Section 6.01 hereof occurs and is continuing under this Indenture with respect to the Company) occurs and is continuinga series of Notes, then and in every such case either the Trustee or the Holders of not less than at least 25% in aggregate principal amount of the such series of Notes then outstanding Notes may declare the principal all Notes of the Notes and any accrued interest on the Notes applicable series to be due and payable immediately by a notice in writing to the Company (Issuer and to the Trustee if given Trustee, in the case of notice by Holders), specifying the respective Event of Default and that it is a “notice of acceleration” and the same shall become immediately due and payable; provided, however, that that, notwithstanding the foregoing, if an Event of Default specified in Section 6.01(7) occurs with respect to the Issuer, all outstanding Notes shall become due and payable without further action or notice. Notwithstanding the foregoing, if after such accelerationacceleration but before a judgment or decree based on such acceleration is obtained by the Trustee, the Holders of a majority in aggregate principal amount of the outstanding Notes of such series may rescind and annul such acceleration if (i) the rescission would not conflict with any judgment or decree and (ii) all Events of Default, other than the nonpayment of accelerated principal amount of or interest on the Notes, have been cured or waived as provided in this Indenture. No such rescission shall affect any subsequent Default or impair any right consequent thereto.if:

Appears in 1 contract

Samples: Indenture (LKQ Corp)

Acceleration of Maturity; Rescission. (a) If an Event of Default (other than an Event of Default specified in clause (8) 7) or (9) 8) of Section 6.01 hereof with respect to the Company) occurs and is continuing, then and in every such case the Trustee or the Holders of not less than 2530% in aggregate principal amount of the outstanding Notes may may, subject to Section 4.03(c) hereof, declare the principal of the Notes and any accrued interest on the Notes to be due and payable immediately by a notice in writing to the Company (and to the Trustee if given by Holders); provided, however, that after such acceleration, but before a judgment or decree based on acceleration, the Holders of a majority in aggregate principal amount of the outstanding Notes may rescind and annul such acceleration if (i1) the rescission would not conflict with any judgment or decree and (ii2) all Events of Default, other than the nonpayment of accelerated principal amount of or interest on the Notes, have been cured or waived as provided in this Indenture. No such rescission shall affect any subsequent Default or impair any right consequent thereto.

Appears in 1 contract

Samples: Indenture (CEB Inc.)

AutoNDA by SimpleDocs

Acceleration of Maturity; Rescission. (a) If an any Event of Default (other than an Event of Default specified in clause (8) or (9) of Section 6.01 hereof with respect to the Company) occurs and is continuingcontinuing under this Indenture, then and in every such case either the Trustee or the Holders of not less than at least 25% in aggregate principal amount of the outstanding Notes then outstanding, may declare the principal of the Notes and any accrued interest on the all Notes to be due and payable immediately by a notice in writing to the Company (Issuer and to the Trustee if given Trustee, in the case of notice by Holders), specifying the respective Event of Default and that it is a “notice of acceleration” and the same shall become immediately due and payable; provided, however, that that, notwithstanding the foregoing, if an Event of Default specified in Section 6.01(7) occurs with respect to the Issuer, all outstanding Notes shall become due and payable without further action or notice. Notwithstanding the foregoing, if after such accelerationacceleration but before a judgment or decree based on such acceleration is obtained by the Trustee, the Holders of a majority in aggregate principal amount of the outstanding Notes may rescind and annul such acceleration if (i) the rescission would not conflict with any judgment or decree and (ii) all Events of Default, other than the nonpayment of accelerated principal amount of or interest on the Notes, have been cured or waived as provided in this Indenture. No such rescission shall affect any subsequent Default or impair any right consequent thereto.if:

Appears in 1 contract

Samples: Supplemental Indenture (LKQ Corp)

Acceleration of Maturity; Rescission. (a) If an Event of Default (other than an Event of Default specified in clause (8) or (9) of Section 6.01 hereof with respect to the Company) occurs and is continuing, then and in every such case the Trustee or the Holders of not less than 25% in aggregate principal amount of the outstanding Notes may declare the principal of the Notes and any accrued interest on the Notes to be due and payable immediately by a notice in writing to the Company (and to the Trustee if given by Holders); provided, however, that after such acceleration, but before a judgment or decree based on acceleration, the Holders of a majority in aggregate principal amount of the outstanding Notes may rescind and annul such acceleration if (i1) the rescission would not conflict with any judgment or decree and (ii2) all Events of Default, other than the nonpayment of accelerated principal amount of or interest (including Additional Interest, if any) on the Notes, have been cured or waived as provided in this Indenture. No such rescission shall affect any subsequent Default or impair any right consequent thereto.

Appears in 1 contract

Samples: Indenture (Fti Consulting Inc)

Acceleration of Maturity; Rescission. (a) If an any Event of Default (other than an Event of Default specified in clause (8) or (9) of Section 6.01 hereof with respect to the Company) occurs and is continuingcontinuing under this Indenture, then and in every such case either the Trustee or the Holders of not less than at least 25% in aggregate principal amount of the outstanding Notes of such series then outstanding, may declare the principal all Notes of the Notes and any accrued interest on the Notes such series to be due and payable immediately by a notice in writing to the Company (Issuer and to the Trustee if given Trustee, in the case of notice by Holders), specifying the respective Event of Default and that it is a “notice of acceleration” and the same shall become immediately due and payable; provided, however, that that, notwithstanding the foregoing, if an Event of Default pursuant to Section 6.01(8) occurs with respect to the Issuer, all outstanding Notes of such series shall become due and payable without further action or notice. Notwithstanding the foregoing, if after such accelerationacceleration but before a judgment or decree based on such acceleration is obtained by the Trustee, the Holders of a majority in aggregate principal amount of the outstanding Notes of such series may rescind and annul such acceleration if (i) the rescission would not conflict with any judgment or decree and (ii) all Events of Default, other than the nonpayment of accelerated principal amount of or interest on the Notes, have been cured or waived as provided in this Indenture. No such rescission shall affect any subsequent Default or impair any right consequent thereto.if:

Appears in 1 contract

Samples: Supplemental Indenture (Brinks Co)

Acceleration of Maturity; Rescission. (a) If an Event of Default (other than an Event of Default specified in clause (8) or (9) of Section 6.01 hereof with respect to the Company) occurs and is continuing, then and in every such case the Trustee or the Holders of not less than 2530% in aggregate principal amount of the outstanding Notes may declare the principal of the Notes and any accrued interest on the Notes to be due and payable immediately by a notice in writing to the Company (and to the Trustee if given by Holders); provided, however, that after such acceleration, the Holders of a majority in aggregate principal amount of the outstanding Notes may rescind and annul such acceleration if (i) the rescission would not conflict with any judgment or decree and (ii) all Events of Default, other than the nonpayment of accelerated principal amount of or interest on the Notes, have been cured or waived as provided in this Indenture. No such rescission shall affect any subsequent Default or impair any right consequent thereto.

Appears in 1 contract

Samples: Bread Financial Holdings, Inc.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!