Common use of Acceleration of Maturity: Waiver of Past Defaults and Rescission Clause in Contracts

Acceleration of Maturity: Waiver of Past Defaults and Rescission. (a) If an Event of Default (other than those specified in Section 8.01(i) and Section 8.01(j), and as otherwise provided in Section 8.03) occurs and is continuing, then and in every such case the Trustee by written notice to the Company, or the Holders of not less than 25% in aggregate principal amount of the outstanding Securities by written notice to the Company or the Trustee, may, and the Trustee at the request of such Holders shall, declare 100% of the principal amount plus accrued and unpaid interest (including Additional Interest, if any) on all the outstanding Securities to be due and payable, and upon any such declaration such principal amount plus accrued and unpaid interest (including Additional Interest, if any) shall become immediately due and payable. Notwithstanding the foregoing, in the case of an Event of Default specified in Section 8.01(i) or Section 8.01(j), 100% of the principal amount plus accrued and unpaid interest (including Additional Interest, if any) on all outstanding Securities will automatically become immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. Any payments by the Company on the Securities following any such acceleration will be subject to the subordination provisions of Article 14 to the extent provided therein. (b) The Holders of not less than a majority in aggregate principal amount of the outstanding Securities, by written notice to the Company and the Trustee may (x) on behalf of the Holders of the Securities, waive any past Default and its consequences and (y) 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 in this Article 8 provided, rescind any such acceleration with respect to the Securities and its consequences, except, in each case, an uncured Default described in Sections 8.01(a) or 8.01(b), or in respect of a covenant or provision hereof which under Section 13.02 cannot be modified or amended without the consent of the Holder of each outstanding Security affected, if: (i) such rescission will not conflict with any judgment or decree of a court of competent jurisdiction; and (ii) all existing Events of Default, other than the non-payment of the principal amount plus accrued and unpaid interest (including Additional Interest, if any) on Securities that have become due solely by such declaration of acceleration, have been cured or waived. Upon any such waiver, the Default which has been waived shall cease to exist and any Event of Default arising therefrom shall be deemed to have been cured, for every other purpose of the Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent. No such rescission shall affect any subsequent Default or impair any right consequent thereon.

Appears in 3 contracts

Samples: First Supplemental Indenture (Evergreen Solar Inc), First Supplemental Indenture (Evergreen Solar Inc), First Supplemental Indenture (Evergreen Solar Inc)

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Acceleration of Maturity: Waiver of Past Defaults and Rescission. (a) If an Event of Default (other than those specified in Section 8.01(i) and Section 8.01(j), and as otherwise provided in Section 8.03) occurs and is continuing, then and in every such case the Trustee by written notice to the Company, or the Holders of not less than 25% at least a majority in the aggregate principal amount Principal Amount of the outstanding Securities by written notice to the Company or the Trustee, may, and the Trustee at the request of such Holders shall, Notes may declare 100% of the principal amount Principal Amount plus accrued and unpaid interest (including Additional Interest, if any) on all the outstanding Securities Notes to be due and payablepayable immediately, by a notice in writing to the Company (and to the other Holders if given by any Holder), and upon any such declaration declaration, such principal amount plus Principal Amount and accrued and unpaid interest (including Additional Interest, if any) shall become immediately due and payable. Notwithstanding the foregoing, in the case of an Event of Default specified in Section 8.01(i9.01(h) or Section 8.01(j9.01(i) with respect to the Company (and not solely with respect to any Significant Subsidiaries of the Company), 100% of the principal amount Principal Amount plus accrued and unpaid interest (including Additional Interest, if any) on all outstanding Securities Notes will automatically become immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. Any payments by the Company on the Securities following any such acceleration will be subject to the subordination provisions of Article 14 to the extent provided therein. (b) The Holders of not less than a majority in aggregate principal amount Principal Amount of the outstanding SecuritiesNotes, by written notice to the Company and the Trustee each other Holder, may (x) on behalf of the Holders of the Securities, waive any past Default and its consequences and (y) 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 in this Article 8 providedobtained, rescind any such acceleration with respect to the Securities Notes and its consequences, except, in each case, an uncured with respect to a Default described in Sections 8.01(aSection 9.01(a), Section 9.01(b) or 8.01(bSection 9.01(d), or in respect of a covenant or provision hereof which under Section 13.02 Article 13 cannot be modified or amended without the consent of the Holder of each outstanding Security Note affected, if: (i) such rescission will not conflict with any judgment or decree of a court of competent jurisdiction; and (ii) all existing Events of Default, other than Default (except the non-payment of the principal amount plus Principal Amount and accrued and unpaid interest (including Additional Interest, if any) on Securities that have has become due solely by because of such declaration of acceleration, ) have been cured or waived. Upon any such waiver, the Default which has been waived shall cease to exist and any Event of Default arising therefrom shall be deemed to have been cured, for every other purpose of the IndentureAgreement; but no such waiver shall extend to any subsequent or other Default or impair any right consequent. No such rescission shall affect any subsequent Default default or impair any right consequent thereon.

Appears in 3 contracts

Samples: Senior Convertible Note Purchase Agreement (Scynexis Inc), Senior Convertible Note Purchase Agreement (Scynexis Inc), Senior Convertible Note Purchase Agreement (Scynexis Inc)

Acceleration of Maturity: Waiver of Past Defaults and Rescission. (a) If an Event of Default (other than those specified in Section 8.01(iSections 9.01(i) and Section 8.01(j), and as otherwise provided in Section 8.039.01(j) involving any Credit Party) occurs and is continuing, then and in every such case the Trustee by written notice to the CompanyRequisite Holders may, or the Holders of not less than 25% in aggregate principal amount of the outstanding Securities by written notice to the Company or the Trustee, may, and the Trustee at the written request of such Holders the Requisite Holders, shall, declare 100% of the principal amount Principal Amount plus accrued and unpaid interest (including Additional Interest, if any) on all the outstanding Securities Notes (including but not limited to any outstanding accrued but not yet capitalized PIK Interest and all outstanding capitalized PIK Interest) and any outstanding Make-Whole Payment (and all other Obligations), to be due and payablepayable immediately, by a notice in writing to the Company (and to the Trustee if given by such Holders), and upon any such declaration such principal amount Principal Amount plus accrued and unpaid interest (including Additional Interest, if anyand all other Obligations) shall become immediately due and payable. Notwithstanding the foregoing, in the case of an Event of Default specified in Section 8.01(i9.01(i) or Section 8.01(j)9.01(j) with respect to any Credit Party, 100% of the principal amount Principal Amount plus accrued and unpaid interest (including Additional Interest, if any) on all outstanding Securities Notes (including but not limited to any outstanding accrued but not yet capitalized PIK Interest and all outstanding capitalized PIK Interest) and any outstanding Make-Whole Payment (and all other Obligations), will automatically become immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. Any payments by the Company on the Securities following any such acceleration will be subject to the subordination provisions of Article 14 to the extent provided therein. (b) The Holders of not less than a majority in aggregate principal amount of the outstanding SecuritiesRequisite Holders, by written notice to the Company and the Trustee Trustee, may (x) on behalf of the Holders of the Securities, waive any past Default and its consequences and (y) 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 in this Article 8 9 provided, rescind any such acceleration with respect to the Securities Notes and its consequences, except, in each case, an uncured with respect to a Default described in Sections 8.01(aSection 9.01(a), Section 9.01(b) or 8.01(bSection 9.01(c) (which, in each case shall require the approval of each Holder directly affected by such Default), or in respect of a covenant or provision hereof which under Section 13.02 Article 14 cannot be modified or amended without the consent of the Holder of each outstanding Security Note affected, if: (i) such rescission will not conflict with any judgment or decree of a court of competent jurisdiction; and (ii) all existing Events of Default, Default (other than the non-payment of the principal amount plus accrued and unpaid any Principal Amount or interest (including Additional Interest, if any) on Securities or any other Obligation that have become became due solely by such declaration of acceleration, ) have been cured or waived. Upon any such waiver, the Default which has been waived shall cease to exist and any Event of Default arising therefrom shall be deemed to have been cured, for every other purpose of the Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent. No such rescission shall affect any subsequent Default default or impair any right consequent thereon.

Appears in 3 contracts

Samples: Indenture (Gevo, Inc.), Exchange and Purchase Agreement (Gevo, Inc.), Exchange and Purchase Agreement (Gevo, Inc.)

Acceleration of Maturity: Waiver of Past Defaults and Rescission. (a) If an Event of Default (other than those specified in Section 8.01(i) and Section 8.01(j)) involving the Company, and as otherwise provided in Section 8.03) occurs and is continuing, then and in every such case the Trustee by written notice to the Company, or the Holders of not less than 25% in aggregate principal amount Principal Amount of the outstanding Securities by written notice to the Company or the Trustee, may, and the Trustee at the request of such Holders shall, Notes may declare 100% of the principal amount Principal Amount plus accrued and unpaid interest (including Additional Interest, if any) on all the outstanding Securities Notes to be due and payablepayable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount Principal Amount plus accrued and unpaid interest plus, except to the extent prohibited by applicable law, a payment equal to the remaining scheduled payments of interest that would have been made on the Notes from the date of the Event of Default (including Additional Interestor, if anyin the case of an Event of Default between a Regular Record Date and the following Interest Payment Date, from such Interest Payment Date) until the first to occur of the Maturity Date and September 23, 2019, shall become immediately due and payable. Notwithstanding the foregoing, in the case of an Event of Default specified in Section 8.01(i) or Section 8.01(j) with respect to the Company (but not with respect to any Significant Subsidiary of the Company or any group of Subsidiaries of the Company that, in the aggregate, would constitute a Significant Subsidiary of the Company), 100% of the principal amount Principal Amount plus accrued and unpaid interest (including Additional Interest, if any) on all outstanding Securities Notes plus, except to the extent prohibited by applicable law, a payment equal to the remaining scheduled payments of interest that would have been made on the Notes from the date of the Event of Default (or, in the case of an Event of Default between a Regular Record Date and the following Interest Payment Date, from such Interest Payment Date) until the first to occur of the Maturity Date and September 23, 2019, will automatically become immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. Any payments by the Company on the Securities following any such acceleration will be subject to the subordination provisions of Article 14 to the extent provided therein. (b) The Holders of not less than a majority in aggregate principal amount Principal Amount of the outstanding SecuritiesNotes, by written notice to the Company and the Trustee Trustee, may (x) on behalf of the Holders of the Securities, waive any past Default and its consequences and (y) 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 in this Article 8 provided, rescind any such acceleration with respect to the Securities Notes and its consequences, except, in each case, an uncured with respect to a Default described in Sections Section 8.01(a), Section 8.01(b) or 8.01(bSection 8.01(c), or in respect of a covenant or provision hereof which under Section 13.02 Article 13 cannot be modified or amended without the consent of the Holder of each outstanding Security Note affected, if: (i) such rescission will not conflict with any judgment or decree of a court of competent jurisdiction; and (ii) all existing Events of Default, other than the non-payment of the principal amount plus accrued and unpaid interest (including Additional Interest, if any) on Securities that have become due solely by such declaration of acceleration, Default have been cured or waived. Upon any such waiver, the Default which has been waived shall cease to exist and any Event of Default arising therefrom shall be deemed to have been cured, for every other purpose of the this Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent. No such rescission shall affect any subsequent Default default or impair any right consequent thereon.

Appears in 3 contracts

Samples: First Supplemental Indenture (Digital Turbine Usa, Inc.), Indenture (Digital Turbine, Inc.), Indenture (Digital Turbine, Inc.)

Acceleration of Maturity: Waiver of Past Defaults and Rescission. (a) If an Event of Default (other than those specified in Section 8.01(i9.01(i) and Section 8.01(j)9.01(j) involving the Company, and as otherwise provided in Section 8.039.03) occurs and is continuing, then and in every such case the Trustee by written notice to the Company, or the Holders of not less than 25% in aggregate principal amount Principal Amount of the outstanding Securities by written notice to the Company or the Trustee, may, and the Trustee at the request of such Holders shall, Notes may declare 100% of the principal amount Principal Amount plus accrued and unpaid interest (including Additional Interest, if any) on all the outstanding Securities Notes to be due and payablepayable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount Principal Amount plus accrued and unpaid interest (including Additional Interest, if any) shall become immediately due and payable. Notwithstanding the foregoing, in the case of an Event of Default specified in Section 8.01(i9.01(i) or Section 8.01(j)9.01(j) with respect to the Company, 100% of the principal amount Principal Amount plus accrued and unpaid interest (including Additional Interest, if any) on all outstanding Securities Notes will automatically become immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. Any payments by the Company on the Securities following any such acceleration will be subject to the subordination provisions of Article 14 to the extent provided therein. (b) The Holders of not less than a majority in aggregate principal amount Principal Amount of the outstanding SecuritiesNotes, by written notice to the Company and the Trustee Trustee, may (x) on behalf of the Holders of the Securities, waive any past Default and its consequences and (y) 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 in this Article 8 9 provided, rescind any such acceleration with respect to the Securities Notes and its consequences, except, in each case, an uncured with respect to a Default described in Sections 8.01(aSection 9.01(a), Section 9.01(b) or 8.01(bSection 9.01(c), or in respect of a covenant or provision hereof which under Section 13.02 Article 14 cannot be modified or amended without the consent of the Holder of each outstanding Security Note affected, if: (i1) such rescission will not conflict with any judgment or decree of a court of competent jurisdiction; and (ii2) all existing Events of Default, other than the non-payment of the principal amount plus accrued and unpaid interest (including Additional Interest, if any) on Securities that have become due solely by such declaration of acceleration, Default have been cured or waivedwaived and all amounts owing to the Trustee have been paid. Upon any such waiver, the Default which has been waived shall cease to exist and any Event of Default arising therefrom shall be deemed to have been cured, for every other purpose of the Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent. No such rescission shall affect any subsequent Default default or impair any right consequent thereon.

Appears in 2 contracts

Samples: Indenture (Hc2 Holdings, Inc.), Indenture (Oclaro, Inc.)

Acceleration of Maturity: Waiver of Past Defaults and Rescission. (a) If an Event of Default (other than those specified in Section 8.01(i) and Section 8.01(j), and as otherwise provided in Section 8.03) occurs and is continuing, then and in every such case the Trustee by written notice to the Company, or the Holders of not less than 25% in aggregate principal amount of the outstanding Securities by written notice to the Company or the Trustee, may, and the Trustee at the request of such Holders shall, declare 100% of the principal amount plus accrued and unpaid interest (including Additional Interest, if any) on all the outstanding Securities to be due and payable, and upon any such declaration such principal amount plus accrued and unpaid interest (including Additional Interest, if any) shall become immediately due and payable. Notwithstanding the foregoing, in the case of an Event of Default specified in Section 8.01(i) or Section 8.01(j), 100% of the principal amount plus accrued and unpaid interest (including Additional Interest, if any) on all outstanding Securities will automatically become immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. Any payments by the Company on the Securities following any such acceleration will be subject to the subordination provisions of Article 14 to the extent provided therein. (b) The Holders of not less than a majority in aggregate principal amount of the outstanding Securities, by written notice to the Company and the Trustee may (x) on behalf of the Holders of the Securities, waive any past Default and its consequences and (y) 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 in this Article 8 provided, rescind any such acceleration with respect to the Securities and its consequences, except, in each case, an uncured Default described in Sections 8.01(a) or 8.01(b), or in respect of a covenant or provision hereof which under Section 13.02 cannot be modified or amended without the consent of the Holder of each outstanding Security affected, if: (i) such rescission will not conflict with any judgment or decree of a court of competent jurisdiction; and (ii) all existing Events of Default, other than the non-payment of the principal amount plus accrued and unpaid interest (including Additional Interest, if any) on Securities that have become due solely by such declaration of acceleration, have been cured or waived. Upon any such waiver, the Default which has been waived shall cease to exist and any Event of Default arising therefrom shall be deemed to have been cured, for every other purpose of the Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent. No such rescission shall affect any subsequent Default or impair any right consequent thereon.

Appears in 1 contract

Samples: Indenture (Evergreen Solar Inc)

Acceleration of Maturity: Waiver of Past Defaults and Rescission. (a) If an Event of Default (other than those specified in Section 8.01(i) and Section 8.01(j)) involving the Company, and as otherwise provided in Section 8.03) occurs and is continuing, then and in every such case the Trustee by written notice to the Company, or the Holders of not less than 25% in aggregate principal amount Principal Amount of the outstanding Securities by written notice to the Company or the Trustee, Notes may, and the Trustee at the request of such Holders shall, declare 100% of the principal amount Principal Amount plus accrued and unpaid interest (including Additional Interest, if any) on all the outstanding Securities Notes to be due and payablepayable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount Principal Amount plus accrued and unpaid interest (including Additional Interest, if any) shall become immediately due and payable. Notwithstanding the foregoing, in the case of an Event of Default specified in Section 8.01(i) or Section 8.01(j) with respect to the Company (but not with respect to any Significant Subsidiary of the Company or any group of Subsidiaries of the Company that, in the aggregate, would constitute a Significant Subsidiary of the Company), 100% of the principal amount Principal Amount plus accrued and unpaid interest (including Additional Interest, if any) on all outstanding Securities Notes will automatically become immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. Any payments by the Company on the Securities following any such acceleration will be subject to the subordination provisions of Article 14 to the extent provided therein. (b) The Holders of not less than a majority in aggregate principal amount Principal Amount of the outstanding SecuritiesNotes, by written notice to the Company and the Trustee Trustee, may (x) on behalf of the Holders of the Securities, waive any past Default and its consequences and (y) 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 in this Article 8 provided, rescind any such acceleration with respect to the Securities Notes and its consequences, except, in each case, an uncured with respect to a Default described in Sections Section 8.01(a), Section 8.01(b) or 8.01(bSection 8.01(c), or in respect of a covenant or provision hereof which under Section 13.02 Article 13 cannot be modified or amended without the consent of the Holder of each outstanding Security Note affected, if: (i) such rescission will not conflict with any judgment or decree of a court of competent jurisdiction; and (ii) all existing Events of Default, other than the non-payment of the principal amount plus accrued and unpaid interest (including Additional Interest, if any) on Securities that have become due solely by such declaration of acceleration, Default have been cured or waived. Upon any such waiver, the Default which has been waived shall cease to exist and any Event of Default arising therefrom shall be deemed to have been cured, for every other purpose of the Indenture; but no not such waiver shall extend to any subsequent or other Default or impair any right consequent. No such rescission shall affect any subsequent Default default or impair any right consequent thereon.

Appears in 1 contract

Samples: Indenture (Amyris, Inc.)

Acceleration of Maturity: Waiver of Past Defaults and Rescission. (a) If an Event of Default (other than those specified in Section 8.01(i9.01(i) and Section 8.01(j)9.01(j) involving the Company, and as otherwise provided in Section 8.039.03) occurs and is continuing, then and in every such case the Trustee by written notice to the Company, or the Holders of not less than 25% in aggregate principal amount Principal Amount of the outstanding Securities by written notice to the Company or the Trustee, may, and the Trustee at the request of such Holders shall, Notes may declare 100% of the principal amount Principal Amount plus accrued and unpaid interest (interest, including Additional Interest, if any) , on all the outstanding Securities Notes to be due and payablepayable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount Principal Amount plus accrued and unpaid interest (interest, including Additional Interest, if any) shall become immediately due and payable. Notwithstanding the foregoing, in the case of an Event of Default specified in Section 8.01(i9.01(i) or Section 8.01(j)9.01(j) with respect to the Company, 100% of the principal amount Principal Amount plus accrued and unpaid interest (including Additional Interest, if any) on all outstanding Securities Notes will automatically become immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. Any payments by the Company on the Securities following any such acceleration will be subject to the subordination provisions of Article 14 to the extent provided therein. (b) The Holders of not less than a majority in aggregate principal amount Principal Amount of the outstanding SecuritiesNotes, by written notice to the Company and the Trustee Trustee, may (x) on behalf of the Holders of the Securities, waive any past Default and its consequences and (y) 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 in this Article 8 9 provided, rescind any such acceleration with respect to the Securities Notes and its consequences, except, in each case, an uncured with respect to a Default described in Sections 8.01(aSection 9.01(a), Section 9.01(b) or 8.01(bSection 9.01(c), or in respect of a covenant or provision hereof which under Section 13.02 Article 14 cannot be modified or amended without the consent of the Holder of each outstanding Security Note affected, if: (i) such rescission will not conflict with any judgment or decree of a court of competent jurisdiction; and (ii) all existing Events of Default, other than the non-payment of the principal amount plus accrued and unpaid interest (including Additional Interest, if any) on Securities that have become due solely by such declaration of acceleration, Default have been cured or waivedwaived and all amounts owing to the Trustee have been paid. Upon any such waiver, the Default which has been waived shall cease to exist and any Event of Default arising therefrom shall be deemed to have been cured, for every other purpose of the this Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent. No such rescission shall affect any subsequent Default default or impair any right consequent thereon.

Appears in 1 contract

Samples: Indenture (Oclaro, Inc.)

Acceleration of Maturity: Waiver of Past Defaults and Rescission. (a) If an Event of Default (other than those specified in Section 8.01(i10.01(h) and Section 8.01(j10.01(i), and as otherwise provided in Section 8.0310.03) occurs and is continuing, then and in every such case the Trustee by written notice to the Company, or the Holders of not less than 25% in aggregate principal amount Principal Amount of the outstanding Securities by written notice to the Company or the Trustee, may, and the Trustee at the request of such Holders shall, may declare 100% of the principal amount Principal Amount plus accrued and unpaid interest (including Additional Interest, if any) on all the outstanding Securities to be due and payablepayable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount Principal Amount plus accrued and unpaid interest (including Additional Interest, if any) shall become immediately due and payable. Notwithstanding the foregoing, in the case of an Event of Default specified in Section 8.01(i10.01(h) or Section 8.01(j10.01(i), 100% of the principal amount Principal Amount plus accrued and unpaid interest (including Additional Interest, if any) on all outstanding Securities will automatically become immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. Any payments by the Company on the Securities following any such acceleration will be subject to the subordination provisions of Article 14 to the extent provided therein. (b) The Holders of not less than a majority in aggregate principal amount Principal Amount of the outstanding Securities, by written notice to the Company and the Trustee Trustee, may (x) on behalf of the Holders of the Securities, waive any past Default and its consequences and (y) 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 in this Article 8 10 provided, rescind any such acceleration with respect to the Securities and its consequences, except, in each case, an uncured Default described in Sections 8.01(aSection 10.01(a) or 8.01(bSection 10.01(b), or in respect of a covenant or provision hereof which under Section 13.02 15.02 cannot be modified or amended without the consent of the Holder of each outstanding Security affected, if: (i) such rescission will not conflict with any judgment or decree of a court of competent jurisdiction; and (ii) all existing Events of Default, other than the non-payment of the principal amount Principal Amount plus accrued and unpaid interest (including Additional Interest, if any) on Securities that have become due solely by such declaration of acceleration, have been cured or waived. Upon any such waiver, the Default which has been waived shall cease to exist and any Event of Default arising therefrom shall be deemed to have been cured, for every other purpose of the Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent. No such rescission shall affect any subsequent Default or impair any right consequent thereon.

Appears in 1 contract

Samples: Indenture (Evergreen Solar Inc)

Acceleration of Maturity: Waiver of Past Defaults and Rescission. (a) If an Event of Default (other than those specified in Section 8.01(i) and Section 8.01(j), and as otherwise provided in Section 8.03) occurs and is continuing, then and in every such case the Trustee by written notice to the Company, or the Holders of not less than 25% in aggregate principal amount of the outstanding Securities by written notice to the Company or the Trustee, may, and the Trustee at the request of such Holders shall, declare 100% of the principal amount plus accrued and unpaid interest (including Additional Interest, if any) on all the outstanding Securities to be due and payable, and upon any such declaration such principal amount plus accrued and unpaid interest (including Additional Interest, if any) shall become immediately due and payable. Notwithstanding the foregoing, in the case of an Event of Default specified in Section 8.01(i) or Section 8.01(j), 100% of the principal amount plus accrued and unpaid interest (including Additional Interest, if any) on all outstanding Securities will automatically become immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. Any payments by the Company on the Securities following any such acceleration will be subject to the subordination provisions of Article 14 to the extent provided therein. (b) The Holders of not less than a majority in aggregate principal amount of the outstanding Securities, by written notice to the Company and the Trustee may (x) on behalf of the Holders of the Securities, waive any past Default and its consequences and (y) 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 in this Article 8 7 provided, rescind any such acceleration with respect to the Securities and its consequences, except, in each case, an uncured Default described in Sections 8.01(a) or 8.01(b), or in respect of a covenant or provision hereof which under Section 13.02 cannot be modified or amended without the consent of the Holder of each outstanding Security affected, if: (i) such rescission will not conflict with any judgment or decree of a court of competent jurisdiction; and (ii) all existing Events of Default, other than the non-payment of the principal amount plus accrued and unpaid interest (including Additional Interest, if any) on Securities that have become due solely by such declaration of acceleration, have been cured or waived. Upon any such waiver, the Default which has been waived shall cease to exist and any Event of Default arising therefrom shall be deemed to have been cured, for every other purpose of the Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent. No such rescission shall affect any subsequent Default or impair any right consequent thereon.

Appears in 1 contract

Samples: Indenture (Evergreen Solar Inc)

Acceleration of Maturity: Waiver of Past Defaults and Rescission. (a) If an Event of Default (other than those specified in Section 8.01(i10.01(i) and Section 8.01(j10.01(j), and as otherwise provided in Section 8.0310.03) occurs and is continuing, then and in every such case the Trustee by written notice to the Company, or the Holders of not less than 25% in aggregate principal amount of the outstanding Securities by written notice to the Company or the Trustee, may, and the Trustee at the request of such Holders shall, declare 100% of the principal amount plus accrued and unpaid interest (including Additional Interest, if any) on all the outstanding Securities to be due and payable, and upon any such declaration such principal amount plus accrued and unpaid interest (including Additional Interest, if any) shall become immediately due and payable. Notwithstanding the foregoing, in the case of an Event of Default specified in Section 8.01(i10.01(i) or Section 8.01(j10.01(j), 100% of the principal amount plus accrued and unpaid interest (including Additional Interest, if any) on all outstanding Securities will automatically become immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. Any payments by the Company on the Securities following any such acceleration will be subject to the subordination provisions of Article 14 to the extent provided therein. (b) The Holders of not less than a majority in aggregate principal amount of the outstanding Securities, by written notice to the Company and the Trustee may (x) on behalf of the Holders of the Securities, waive any past Default and its consequences and (y) 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 in this Article 8 10 provided, rescind any such acceleration with respect to the Securities and its consequences, except, in each case, an uncured Default described in Sections 8.01(a10.01(a) or 8.01(b10.01(b), or in respect of a covenant or provision hereof which under Section 13.02 15.02 cannot be modified or amended without the consent of the Holder of each outstanding Security affected, if: (i) such rescission will not conflict with any judgment or decree of a court of competent jurisdiction; and (ii) all existing Events of Default, other than the non-payment of the principal amount plus accrued and unpaid interest (including Additional Interest, if any) on Securities that have become due solely by such declaration of acceleration, have been cured or waived. Upon any such waiver, the Default which has been waived shall cease to exist and any Event of Default arising therefrom shall be deemed to have been cured, for every other purpose of the Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent. No such rescission shall affect any subsequent Default or impair any right consequent thereon.

Appears in 1 contract

Samples: Indenture (Evergreen Solar Inc)

Acceleration of Maturity: Waiver of Past Defaults and Rescission. (a) If an Event of Default (other than those specified in Section 8.01(i9.01(i) and Section 8.01(j)9.01(j) involving the Company, and as otherwise provided in Section 8.039.03) occurs and is continuing, then and in every such case the Trustee by written notice to the Company, or the Holders of not less than 25% in aggregate principal amount Principal Amount of the outstanding Securities by written notice to the Company or the Trustee, Notes may, and the Trustee at the request of such Holders shall, declare 100% of the principal amount Principal Amount plus accrued and unpaid interest (including Additional Interest, if any) on all the outstanding Securities Notes to be due and payablepayable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount Principal Amount plus accrued and unpaid interest (including Additional Interest, if any) shall become immediately due and payable. Notwithstanding the foregoing, in the case of an Event of Default specified in Section 8.01(i9.01(i) or Section 8.01(j9.01(j) with respect to the Company (but not with respect to any Significant Subsidiary of the Company or any group of Subsidiaries of the Company that, in the aggregate, would constitute a Significant Subsidiary of the Company), 100% of the principal amount Principal Amount plus accrued and unpaid interest (including Additional Interest, if any) on all outstanding Securities Notes will automatically become immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. Any payments by the Company on the Securities following any such acceleration will be subject to the subordination provisions of Article 14 to the extent provided therein. (b) The Holders of not less than a majority in aggregate principal amount Principal Amount of the outstanding SecuritiesNotes, by written notice to the Company and the Trustee Trustee, may (x) on behalf of the Holders of the Securities, waive any past Default and its consequences and (y) 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 in this Article 8 9 provided, rescind any such acceleration with respect to the Securities Notes and its consequences, except, in each case, an uncured with respect to a Default described in Sections 8.01(aSection 9.01(a), Section 9.01(b) or 8.01(bSection 9.01(c), or in respect of a covenant or provision hereof which under Section 13.02 Article 14 cannot be modified or amended without the consent of the Holder of each outstanding Security Note affected, if: (i) such rescission will not conflict with any judgment or decree of a court of competent jurisdiction; and (ii) all existing Events of Default, other than the non-payment of the principal amount plus accrued and unpaid interest (including Additional Interest, if any) on Securities that have become due solely by such declaration of acceleration, Default have been cured or waived. Upon any such waiver, the Default which has been waived shall cease to exist and any Event of Default arising therefrom shall be deemed to have been cured, for every other purpose of the Indenture; but no not such waiver shall extend to any subsequent or other Default or impair any right consequent. No such rescission shall affect any subsequent Default default or impair any right consequent thereon.

Appears in 1 contract

Samples: Indenture (Callidus Software Inc)

Acceleration of Maturity: Waiver of Past Defaults and Rescission. (a) If an Event of Default (other than those specified in Section 8.01(iSections 9.01(i) and Section 8.01(j)9.01(j) involving the Company, and as otherwise provided in Section 8.039.03) occurs and is continuing, then and in every such case the Trustee by written notice to the Company, or the Holders of not less than 25% in aggregate principal amount Principal Amount of the outstanding Securities by written notice to the Company or the Trustee, Notes may, and the Trustee at the request of such Holders shall, declare 100% of the principal amount Principal Amount plus accrued and unpaid interest (including Additional Interest, if any) on all the outstanding Securities Notes to be due and payablepayable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount Principal Amount plus accrued and unpaid interest (including Additional Interest, if any) shall become immediately due and payable. Notwithstanding the foregoing, in the case of an Event of Default specified in Section 8.01(i9.01(i) or Section 8.01(j9.01(j) with respect to the Company (but not with respect to any Significant Subsidiary of the Company or any group of Subsidiaries of the Company that, in the aggregate, would constitute a Significant Subsidiary of the Company), 100% of the principal amount Principal Amount plus accrued and unpaid interest (including Additional Interest, if any) on all outstanding Securities Notes will automatically become immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. Any payments by the Company on the Securities following any such acceleration will be subject to the subordination provisions of Article 14 to the extent provided therein. (b) The Holders of not less than a majority in aggregate principal amount Principal Amount of the outstanding SecuritiesNotes, by written notice to the Company and the Trustee Trustee, may (x) on behalf of the Holders of the Securities, waive any past Default and its consequences and (y) 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 in this Article 8 9 provided, rescind any such acceleration with respect to the Securities Notes and its consequences, except, in each case, an uncured with respect to a Default described in Sections 8.01(aSection 9.01(a), Section 9.01(b) or 8.01(bSection 9.01(c), or in respect of a covenant or provision hereof which under Section 13.02 Article 14 cannot be modified or amended without the consent of the Holder of each outstanding Security Note affected, if: (i) such rescission will not conflict with any judgment or decree of a court of competent jurisdiction; and (ii) all existing Events of Default, Default (other than the non-payment of the principal amount plus accrued and unpaid any Principal Amount or interest (including Additional Interest, if any) on Securities that have become became due solely by such declaration of acceleration, ) have been cured or waived. Upon any such waiver, the Default which has been waived shall cease to exist and any Event of Default arising therefrom shall be deemed to have been cured, for every other purpose of the Indenture; but no not such waiver shall extend to any subsequent or other Default or impair any right consequent. No such rescission shall affect any subsequent Default default or impair any right consequent thereon.

Appears in 1 contract

Samples: Indenture (Endeavour International Corp)

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Acceleration of Maturity: Waiver of Past Defaults and Rescission. (a) If an Event of Default (other than those an event of default pursuant to Section 9.01(k), as to which the provisions of Section 9.03(b) will apply, and other than an Event of Default specified in Section 8.01(i9.01(h) or Section 9.01(i) with respect to the Company and Section 8.01(j), and as otherwise provided in Section 8.03not solely with respect to any Significant Subsidiaries of the Company) occurs and is continuing, then and in every such case the Trustee by written notice to the Company, or the Holders of not less than 25% at least a majority in the aggregate principal amount Principal Amount of the outstanding Securities by written notice to the Company or the Trustee, may, and the Trustee at the request of such Holders shall, Notes may declare 100% of the principal amount Principal Amount plus the Repayment Premium plus accrued and unpaid interest (including Additional Interest, if any) on all the outstanding Securities Notes to be due and payablepayable immediately, by a notice in writing to the Company (and to the other Holders if given by any Holder), and upon any such declaration declaration, such principal amount plus Principal Amount, Repayment Premium and accrued and unpaid interest (including Additional Interest, if any) shall become immediately due and payable. Notwithstanding the foregoing, in the case of an Event of Default specified in Section 8.01(i9.01(h) or Section 8.01(j9.01(i) with respect to the Company (and not solely with respect to any Significant Subsidiaries of the Company), 100% of the principal amount Principal Amount plus the Repayment Premium plus accrued and unpaid interest (including Additional Interest, if any) on all outstanding Securities Notes will automatically become immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. Any payments by the Company on the Securities following any such acceleration will be subject to the subordination provisions of Article 14 to the extent provided therein. (b) The If any representation or warranty of the Company or any of its Subsidiaries in any Note Document to which it is party or in any certificate, financial statement or other document delivered by the Company or such Subsidiary in connection with this Agreement proves to have not been true and correct in any material respect at the time it was made (except that any representation or warranty that is qualified as to “materiality” or “Material Adverse Effect” shall be true and correct in all respects), then Holders of not less than a majority in aggregate principal amount Principal Amount of Notes then outstanding which are held by any of the Investors (or their Affiliates) will have the right to designate such event to constitute an Event of Default and the right to declare 100% of the Principal Amount plus the Repayment Premium plus accrued and unpaid interest on all the outstanding Notes to be due and payable immediately, in each case by a notice in writing to the Company (and to the other Holders if given by any Holder), and upon any such declaration, such Principal Amount, Repayment Premium and accrued and unpaid interest shall become immediately due and payable. (c) The Holders of a majority in aggregate Principal Amount of the outstanding SecuritiesNotes, by written notice to the Company and the Trustee each other Holder, may (x) on behalf of the Holders of the Securities, waive any past Default and its consequences and (y) 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 in this Article 8 providedobtained, rescind any such acceleration with respect to the Securities Notes and its consequences, except, in each case, an uncured with respect to a Default described in Sections 8.01(aSection 9.01(a), Section 9.01(b) or 8.01(bSection 9.01(d), or in respect of a covenant or provision hereof which under Section 13.02 Article 13 cannot be modified or amended without the consent of the Holder of each outstanding Security Note affected, if: (i) such rescission will not conflict with any judgment or decree of a court of competent jurisdiction; and (ii) all existing Events of Default, other than Default (except the non-payment of the principal amount plus Principal Amount, Repayment Premium and accrued and unpaid interest (including Additional Interest, if any) on Securities that have has become due solely by because of such declaration of acceleration, ) have been cured or waived. Upon any such waiver, the Default which has been waived shall cease to exist and any Event of Default arising therefrom shall be deemed to have been cured, for every other purpose of the IndentureAgreement; but no such waiver shall extend to any subsequent or other Default or impair any right consequent. No such rescission shall affect any subsequent Default default or impair any right consequent thereon.

Appears in 1 contract

Samples: Senior Convertible Note Purchase Agreement (Coherus BioSciences, Inc.)

Acceleration of Maturity: Waiver of Past Defaults and Rescission. (a) If an Event of Default (other than those specified in Section 8.01(i) and Section 8.01(j), and as otherwise provided in Section 8.03) occurs and is continuing, then and in every such case the Trustee by written notice to the Company, or the Holders of not less than 25% in aggregate principal amount of the outstanding Securities by written notice to the Company or the Trustee, may, and the Trustee at the request of such Holders shall, declare 100% of the principal amount plus accrued and unpaid interest (including Additional Interest, if any) on all the outstanding Securities to be due and payable, and upon any such declaration such principal amount plus accrued and unpaid interest (including Additional Interest, if any) shall become immediately due and payable. Notwithstanding the foregoing, in the case of an Event of Default specified in Section 8.01(i) or Section 8.01(j), 100% of the principal amount plus accrued and unpaid interest (including Additional Interest, if any) on all outstanding Securities will automatically become immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. Any payments by the Company on the Securities following any such acceleration will be subject to the subordination provisions of Article 14 to the extent provided therein. (b) The Holders of not less than a majority in aggregate principal amount of the outstanding Securities, by written notice to the Company and the Trustee may (x) on behalf of the Holders of the Securities, waive any past Default and its consequences and (y) 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 in this Article 8 7 provided, rescind any such acceleration with respect to the Securities and its consequences, except, in each case, an uncured Default described in Sections 8.01(a) or 8.01(b), or in respect of a covenant or provision hereof which under Section 13.02 cannot be modified or amended without the consent of the Holder of each outstanding Security affected, if: (i) such rescission will not conflict with any judgment or decree of a court of competent jurisdiction; and (ii) all existing Events of Default, other than the non-payment of the principal amount plus accrued and unpaid interest (including Additional Interest, if any) on Securities that have become due solely by such declaration of acceleration, have been cured or waived. Upon any such waiver, the Default which has been waived shall cease to exist and any Event of Default arising therefrom shall be deemed to have been cured, for every other purpose of the Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent. No such rescission shall affect any subsequent Default or impair any right consequent thereon.

Appears in 1 contract

Samples: First Supplemental Indenture (Evergreen Solar Inc)

Acceleration of Maturity: Waiver of Past Defaults and Rescission. (a) If an Event of Default (other than those specified in Section 8.01(i) and Section 8.01(j)) involving the Company, and as otherwise provided in Section 8.03) occurs and is continuing, then and in every such case the Trustee by written notice to the Company, or the Holders of not less than 25% in aggregate principal amount Principal Amount of the outstanding Securities by written notice to the Company or the Trustee, Notes may, and the Trustee at the request of such Holders shallwill, declare 100% of the principal amount Principal Amount plus accrued and unpaid interest (including Additional Interest, if any) on all the outstanding Securities Notes to be due and payablepayable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount Principal Amount plus accrued and unpaid interest (including Additional Interest, if any) shall become immediately due and payable. Notwithstanding the foregoing, in the case of an Event of Default specified in Section 8.01(i) or Section 8.01(j) with respect to the Company (but not with respect to any Significant Subsidiary of the Company or any group of Subsidiaries of the Company that, in the aggregate, would constitute a Significant Subsidiary of the Company), 100% of the principal amount Principal Amount plus accrued and unpaid interest (including Additional Interest, if any) on all outstanding Securities Notes will automatically become immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. Any payments by the Company on the Securities following any such acceleration will be subject to the subordination provisions of Article 14 to the extent provided therein. (b) The Holders of not less than a majority in aggregate principal amount Principal Amount of the outstanding SecuritiesNotes, by written notice to the Company and the Trustee Trustee, may (x) on behalf of the Holders of the Securities, waive any past Default and its consequences and (y) 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 in this Article 8 provided, rescind any such acceleration with respect to the Securities Notes and its consequences, except, in each case, an uncured with respect to a Default described in Sections Section 8.01(a), Section 8.01(b) or 8.01(bSection 8.01(c), or in respect of a covenant or provision hereof which under Section 13.02 Article 13 cannot be modified or amended without the consent of the Holder of each outstanding Security Note affected, if: (i) such rescission will not conflict with any judgment or decree of a court of competent jurisdiction; and (ii) all existing Events of Default, other than the non-payment of the principal amount plus accrued and unpaid interest (including Additional Interest, if any) on Securities that have become due solely by such declaration of acceleration, Default have been cured or waived. Upon any such waiver, the Default which has been waived shall cease to exist and any Event of Default arising therefrom shall be deemed to have been cured, for every other purpose of the this Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent. No such rescission shall affect any subsequent Default default or impair any right consequent thereon.

Appears in 1 contract

Samples: Indenture (Amyris, Inc.)

Acceleration of Maturity: Waiver of Past Defaults and Rescission. (a) If an Event of Default (other than those specified in Section 8.01(i9.01(h) and Section 8.01(j)9.01(i) involving the Company, and as otherwise provided in Section 8.039.03) occurs and is continuing, then and in every such case the Trustee by written notice to the Company, or the Holders of not less than 25% in aggregate principal amount Principal Amount of the outstanding Securities by written notice to the Company or the Trustee, may, and the Trustee at the request of such Holders shall, may declare 100% of the principal amount Principal Amount plus accrued and unpaid interest (including Additional Interest, if any) on all the outstanding Securities to be due and payablepayable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount Principal Amount plus accrued and unpaid interest (including Additional Interest, if any) shall become immediately due and payable. Notwithstanding the foregoing, in the case of an Event of Default specified in Section 8.01(i9.01(h) or Section 8.01(j)9.01(i) involving the Company, 100% of the principal amount Principal Amount plus accrued and unpaid interest (including Additional Interest, if any) on all outstanding Securities will automatically become immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. Any payments by the Company on the Securities following any such acceleration will be subject to the subordination provisions of Article 14 to the extent provided therein. (b) The Holders of not less than a majority in aggregate principal amount Principal Amount of the outstanding Securities, by written notice to the Company and the Trustee Trustee, may (x) on behalf of the Holders of the Securities, waive any past Default and its consequences and (y) 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 in this Article 8 9 provided, rescind any such acceleration with respect to the Securities and its consequences, except, in each case, an uncured Default described in Sections 8.01(aSection 9.01(a) or 8.01(bSection 9.01(b), or in respect of a covenant or provision hereof which under Section 13.02 Article 14 cannot be modified or amended without the consent of the Holder of each outstanding Security affected, if: (i) such rescission will not conflict with any judgment or decree of a court of competent jurisdiction; and (ii) all existing Events of Default, other than the non-payment of the principal amount Principal Amount plus accrued and unpaid interest (including Additional Interest, if any) on Securities that have become due solely by such declaration of acceleration, have been cured or waived. Upon any such waiver, the Default which has been waived shall cease to exist and any Event of Default arising therefrom shall be deemed to have been cured, for every other purpose of the Indenture; but no not such waiver shall extend to any subsequent or other Default or impair any right consequent. No such rescission shall affect any subsequent Default default or impair any right consequent thereon.

Appears in 1 contract

Samples: Indenture (Verigy Ltd.)

Acceleration of Maturity: Waiver of Past Defaults and Rescission. (a) If an Event of Default (other than those an Event of Default specified in Section 8.01(i9.01(h) or Section 9.01(i) with respect to the Company and Section 8.01(j), and as otherwise provided in Section 8.03not solely with respect to any Significant Subsidiaries of the Company) occurs and is continuing, then and in every such case the Trustee by written notice to the Company, or the Holders of not less than 25% at least a majority in the aggregate principal amount of the outstanding Securities by written notice to the Company or the Trustee, may, and the Trustee at the request of such Holders shall, Notes may declare 100% of the principal amount plus accrued and unpaid interest (including Additional Interest, if any) on all the outstanding Securities Notes to be due and payablepayable immediately, by a notice in writing to the Company (and to the other Holders if given by any Holder), and upon any such declaration declaration, such principal amount plus amount, and accrued and unpaid interest (including Additional Interest, if any) shall become immediately due and payable. Notwithstanding the foregoing, in the case of an Event of Default specified in Section 8.01(i9.01(h) or Section 8.01(j9.01(i) with respect to the Company (and not solely with respect to any Significant Subsidiaries of the Company), 100% of the principal amount plus accrued and unpaid interest (including Additional Interest, if any) on all outstanding Securities Notes will automatically become immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. Any payments by the Company on the Securities following any such acceleration will be subject to the subordination provisions of Article 14 to the extent provided therein. (b) [Reserved]. (c) The Holders of not less than a majority in aggregate principal amount of the outstanding SecuritiesNotes, by written notice to the Company and the Trustee each other Holder, may (x) on behalf of the Holders of the Securities, waive any past Default and its consequences and (y) 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 in this Article 8 providedobtained, rescind any such acceleration with respect to the Securities Notes and its consequences, except, in each case, an uncured with respect to a Default described in Sections 8.01(a) Section 9.01(a), or 8.01(bSection 9.01(b), or in respect of a covenant or provision hereof which under Section 13.02 Article 13 cannot be modified or amended without the consent of the Holder of each outstanding Security Note affected, if: (i) such rescission will not conflict with any judgment or decree of a court of competent jurisdiction; and (ii) all existing Events of Default, other than Default (except the non-payment of the principal amount plus and accrued and unpaid interest (including Additional Interest, if any) on Securities that have has become due solely by because of such declaration of acceleration, ) have been cured or waived. Upon any such waiver, the Default which has been waived shall cease to exist and any Event of Default arising therefrom shall be deemed to have been cured, for every other purpose of the IndentureAgreement; but no such waiver shall extend to any subsequent or other Default or impair any right consequent. No such rescission shall affect any subsequent Default default or impair any right consequent thereon.

Appears in 1 contract

Samples: Securities Purchase Agreement (Graf Acquisition Corp. IV)

Acceleration of Maturity: Waiver of Past Defaults and Rescission. (a) If an Event of Default (other than those specified in Section 8.01(iSections 9.01(i) and Section 8.01(j), and as otherwise provided in Section 8.039.01(j) involving any Credit Party) occurs and is continuing, then and in every such case the Trustee by written notice to the CompanyRequisite Holders may, or the Holders of not less than 25% in aggregate principal amount of the outstanding Securities by written notice to the Company or the Trustee, may, and the Trustee at the written request of such Holders the Requisite Holders, shall, declare 100% of the principal amount Principal Amount plus accrued and unpaid interest (including Additional Interest, if any) on all the outstanding Securities Notes (including but not limited to any outstanding accrued but not yet capitalized PIK Interest and all outstanding capitalized PIK Interest) and any outstanding Make-Whole Payment (and all other Obligations), to be due and payablepayable immediately, by a notice in writing to the Company (and to the Trustee if given by such Holders), and upon any such declaration such principal amount Principal Amount plus accrued and unpaid interest and outstanding Make-Whole Payment (including Additional Interest, if anyand all other Obligations) shall become immediately due and payable. Notwithstanding the foregoing, in the case of an Event of Default specified in Section 8.01(i9.01(i) or Section 8.01(j)9.01(j) with respect to any Credit Party, 100% of the principal amount Principal Amount plus accrued and unpaid interest (including Additional Interest, if any) on all outstanding Securities Notes (including but not limited to any outstanding accrued but not yet capitalized PIK Interest and all outstanding capitalized PIK Interest) and any outstanding Make-Whole Payment (and all other Obligations), will automatically become immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. Any payments If the Obligations are repaid, in whole or in part, following the incurrence and during the continuance of an Event of Default (whether by acceleration or otherwise and including, but not limited to, an insolvency event described in Sections 9.01(i) and Section 9.01(j)), the Company on Issuer shall pay, together with such payment, an additional amount (the Securities following any “Acceleration Make-Whole Payment”) equal to 14% of the Principal Amount so repaid and until so paid such acceleration Acceleration Make-Whole Payment will be subject to part of the subordination provisions of Article 14 to the extent provided thereinObligations then due and payable. (b) The Holders of not less than a majority in aggregate principal amount of the outstanding SecuritiesRequisite Holders, by written notice to the Company and the Trustee Trustee, may (x) on behalf of the Holders of the Securities, waive any past Default and its consequences and (y) 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 in this Article 8 9 provided, rescind any such acceleration with respect to the Securities Notes and its consequences, except, in each case, an uncured with respect to a Default described in Sections 8.01(aSection 9.01(a), Section 9.01(b) or 8.01(bSection 9.01(c) (which, in each case shall require the approval of each Holder directly affected by such Default), or in respect of a covenant or provision hereof which under Section 13.02 Article 14 cannot be modified or amended without the consent of the Holder of each outstanding Security Note affected, if: (i) such rescission will not conflict with any judgment or decree of a court of competent jurisdiction; and (ii) all existing Events of Default, Default (other than the non-payment of the principal amount plus accrued and unpaid any Principal Amount or interest (including Additional Interest, if any) on Securities or any other Obligation that have become became due solely by such declaration of acceleration, ) have been cured or waived. Upon any such waiver, the Default which has been waived shall cease to exist and any Event of Default arising therefrom shall be deemed to have been cured, for every other purpose of the Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent. No such rescission shall affect any subsequent Default default or impair any right consequent thereon.

Appears in 1 contract

Samples: Indenture (Gevo, Inc.)

Acceleration of Maturity: Waiver of Past Defaults and Rescission. (a) If an Event of Default (other than those specified in Section 8.01(i9.01(i) and Section 8.01(j), and as otherwise provided in Section 8.039.01(j) involving the Company) occurs and is continuing, then and in every such case the Trustee by written notice to the Company, or the Holders of not less than 25% at least a majority in the aggregate principal amount Principal Amount of the outstanding Securities by written notice to the Company or the Trustee, may, and the Trustee at the request of such Holders shall, Notes may declare 100% of the principal amount Principal Amount plus the Repayment Premium plus accrued and unpaid interest (including Additional Interest, if any) on all the outstanding Securities Notes to be due and payablepayable immediately, by a notice in writing to the Company (and to the other Holders if given by any Holder), and upon any such declaration such principal amount Principal Amount plus accrued and unpaid interest (including Additional Interest, if any) shall become immediately due and payable. Notwithstanding the foregoing, in the case of an Event of Default specified in Section 8.01(i9.01(i) or Section 8.01(j9.01(j) with respect to the Company (but not with respect to any Subsidiary of the Company or any group of Subsidiaries of the Company that, in the aggregate, would constitute a Subsidiary of the Company), 100% of the principal amount Principal Amount plus accrued and unpaid interest (including Additional Interest, if any) on all outstanding Securities Notes will automatically become immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. Any payments by the Company on the Securities following any such acceleration will be subject to the subordination provisions of Article 14 to the extent provided therein. (b) The Holders of not less than a majority in aggregate principal amount Principal Amount of the outstanding SecuritiesNotes, by written notice to the Company and the Trustee each other Holder, may (x) on behalf of the Holders of the Securities, waive any past Default and its consequences and (y) 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 in this Article 8 providedobtained, rescind any such acceleration with respect to the Securities Notes and its consequences, except, in each case, an uncured with respect to a Default described in Sections 8.01(aSection 9.01(a), Section 9.01(b) or 8.01(bSection 9.01(c), or in respect of a covenant or provision hereof which under Section 13.02 Article 14 cannot be modified or amended without the consent of the Holder of each outstanding Security Note affected, if: (i) such rescission will not conflict with any judgment or decree of a court of competent jurisdiction; and (ii) all existing Events of Default, other than the non-payment of the principal amount plus accrued and unpaid interest (including Additional Interest, if any) on Securities that have become due solely by such declaration of acceleration, Default have been cured or waived. Upon any such waiver, the Default which has been waived shall cease to exist and any Event of Default arising therefrom shall be deemed to have been cured, for every other purpose of the IndentureAgreement; but no not such waiver shall extend to any subsequent or other Default or impair any right consequent. No such rescission shall affect any subsequent Default default or impair any right consequent thereon.

Appears in 1 contract

Samples: Convertible Note Purchase Agreement (Raptor Pharmaceutical Corp)

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