Common use of Acceleration of Maturity; Rescission Clause in Contracts

Acceleration of Maturity; Rescission. If any Event of Default occurs and is continuing under this Indenture, either the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes then outstanding may declare all Notes to be due and payable by notice in writing to the Issuer and the 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, 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, after such acceleration 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 outstanding Notes may rescind and annul such acceleration if:

Appears in 1 contract

Samples: Indenture (Ingevity Corp)

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Acceleration of Maturity; Rescission. If any Event of Default under this Indenture occurs and is continuing under this Indenturecontinuing, either the Trustee or the Holders of at least 25% in aggregate principal amount of the applicable series of Notes then outstanding outstanding, may declare all such series of Notes to be due and payable by notice in writing to the Issuer and the 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 will become immediately due and payable; provided, however, that, notwithstanding the foregoing, if an Event of Default specified in Section 6.01(7) occurs with respect to the IssuerIssuer or the Parent Guarantor, all outstanding Notes shall become due and payable without further action or notice. Notwithstanding the foregoing, if after such acceleration 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 applicable series of Notes may rescind and annul such acceleration if:

Appears in 1 contract

Samples: Indenture (Wesco International Inc)

Acceleration of Maturity; Rescission. If any Event of Default occurs and is continuing under this Indenture, either the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes then outstanding outstanding, may declare all Notes to be due and payable by notice in writing to the Issuer and the 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, notwithstanding the foregoing, if an Event of Default specified in Section 6.01(7) occurs with respect to the IssuerParent Guarantor, all outstanding Notes shall become due and payable without further action or notice. Notwithstanding the foregoing, if after such acceleration 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 outstanding Notes may rescind and annul such acceleration if:

Appears in 1 contract

Samples: Indenture (Wesco International Inc)

Acceleration of Maturity; Rescission. If any Event of Default occurs and is continuing under this Indenture, either the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes then outstanding outstanding, may declare all Notes to be due and payable by notice in writing to the Issuer and the 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, 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 acceleration 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 outstanding Notes may rescind and annul such acceleration if:

Appears in 1 contract

Samples: Supplemental Indenture (LKQ Corp)

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Acceleration of Maturity; Rescission. If any Event of Default under this Indenture occurs and is continuing under this Indenturecontinuing, either the Trustee or the Holders of at least 25% in aggregate principal amount of the applicable series of Notes then outstanding outstanding, may declare all such series of Notes to be due and payable by notice in writing to the Issuer and the 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 will become immediately due and payable; provided, however, that, notwithstanding the foregoing, if an Event of Default specified in Section 6.01(7) occurs with respect to the IssuerIssuer or the Parent Guarantor, all outstanding Notes shall become due and payable without further action or notice. Notwithstanding the foregoing, if after such acceleration 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 applicable series of outstanding Notes may rescind and annul such acceleration if:

Appears in 1 contract

Samples: Indenture (Wesco International Inc)

Acceleration of Maturity; Rescission. If any Event of Default occurs and is continuing under this Indenture, either the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes then outstanding outstanding, may declare all Notes to be due and payable by notice in writing to the Issuer and the 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, notwithstanding the foregoing, if an Event of Default specified in Section 6.01(76.01(8) 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 acceleration 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 outstanding Notes may rescind and annul such acceleration if:

Appears in 1 contract

Samples: Indenture (Brinks Co)

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