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 Section 501(f) through 501(j)) occurs and is continuing, the Trustee or the Holders of at least 25% of the principal amount of the Senior Notes then Outstanding by written notice to the Company (and to the Trustee if such notice is given by the Holders), may, and the Trustee at the request of such Holders shall, declare all unpaid principal of, and premium, if any, and accrued Interest on, all the Senior Notes to be due and payable immediately, and upon any such declaration such principal, premium and accrued Interest shall become immediately due and payable. Thereupon the Trustee may, at its discretion, proceed to protect and enforce the rights of Holders of the Senior Notes by appropriate judicial proceeding.