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 Sections 9.01(i) and 9.01(j) involving the Company, and as otherwise provided in Section 9.03) 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, and the Trustee at the request of such Holders shall, declare 100% of the Principal Amount plus accrued and unpaid interest on all the outstanding Notes to be due and payable 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 plus accrued and unpaid interest shall become immediately due and payable. Notwithstanding the foregoing, in the case of an Event of Default specified in Section 9.01(i) or Section 9.01(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 plus accrued and unpaid interest on all outstanding Notes will automatically become due and payable without any declaration or other act on the part of the Trustee or any Holder.

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 specified in Sections 9.01(iSection 8.01(i) and 9.01(jSection 8.01(j) involving the Company, and as otherwise provided in Section 9.038.03) 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, and the Trustee at the request of such Holders shall, declare 100% of the Principal Amount plus accrued and unpaid interest on all the outstanding Notes to be due and payable 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 plus accrued and unpaid interest shall become immediately due and payable. Notwithstanding the foregoing, in the case of an Event of Default specified in Section 9.01(i8.01(i) or Section 9.01(j8.01(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 plus accrued and unpaid interest on all outstanding Notes will automatically become due and payable without any declaration or other act on the part of the Trustee or any Holder.

Appears in 1 contract

Samples: Amyris, Inc.

Acceleration of Maturity: Waiver of Past Defaults and Rescission. (a) If an Event of Default (other than those specified in Sections Section 9.01(i) and 9.01(j) involving the Company, and as otherwise provided in Section 9.03) occurs and is continuing, then and in every such case the Trustee or the Holders of not less than 25% at least a majority in the aggregate Principal Amount of the outstanding Notes may, and the Trustee at the request of such Holders shall, may 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, by a notice in writing to the Company (and to the Trustee other Holders if given by Holdersany Holder), and upon any such declaration such Principal Amount plus accrued and unpaid interest shall become immediately due and payable. Notwithstanding the foregoing, in the case of an Event of Default specified in Section 9.01(i) or Section 9.01(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 plus accrued and unpaid interest on all outstanding Notes will automatically become due and payable without any declaration or other act on the part of the Trustee or any Holder.

Appears in 1 contract

Samples: Convertible Note Purchase Agreement (Raptor Pharmaceutical Corp)

Acceleration of Maturity: Waiver of Past Defaults and Rescission. (a) If an Event of Default (other than those specified in Sections Section 9.01(i) and 9.01(j) involving the Company, and as otherwise provided in Section 9.03) 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, and the Trustee at the request of such Holders shall, declare 100% of the Principal Amount plus accrued and unpaid interest on all the outstanding Notes to be due and payable 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 plus accrued and unpaid interest shall become immediately due and payable. Notwithstanding the foregoing, in the case of an Event of Default specified in Section 9.01(i) or Section 9.01(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 plus accrued and unpaid interest on all outstanding Notes will automatically become due and payable without any declaration or other act on the part of the Trustee or any Holder.

Appears in 1 contract

Samples: Callidus Software Inc

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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 Sections Section 9.01(h) or Section 9.01(i) with respect to the Company and 9.01(j) involving not solely with respect to any Significant Subsidiaries of the Company, and as otherwise provided in Section 9.03) occurs and is continuing, then and in every such case the Trustee or the Holders of not less than 25% at least a majority in the aggregate Principal Amount of the outstanding Notes may, and the Trustee at the request of such Holders shall, may 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, by a notice in writing to the Company (and to the Trustee other Holders if given by Holdersany Holder), and upon any such declaration declaration, such Principal Amount plus Amount, Repayment Premium and accrued and unpaid interest shall become immediately due and payable. Notwithstanding the foregoing, in the case of an Event of Default specified in Section 9.01(i9.01(h) or Section 9.01(j9.01(i) with respect to the Company (but and not solely 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 plus the Repayment Premium plus accrued and unpaid interest on all outstanding Notes will automatically become due and payable without any declaration or other act on the part of the Trustee or any Holder.

Appears in 1 contract

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

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