Common use of Acceleration of Notes Clause in Contracts

Acceleration of Notes. If payment of the Notes is accelerated because of an Event of Default, the Company or the Trustee shall promptly notify the holders of the Designated Senior Indebtedness or the Representative of such holders of the acceleration. The Company may not pay the Notes until five Business Days after such holders or the Representative of the Designated Senior Indebtedness receive notice of such acceleration and, thereafter, may pay the Notes only if the subordination provisions of this Indenture otherwise permit payment at that time.

Appears in 2 contracts

Samples: Indenture (Colortyme Inc), Paragon Health Network Inc

AutoNDA by SimpleDocs

Acceleration of Notes. If payment of the Notes is accelerated because of an Event of Default, the Company or the Trustee shall will promptly notify the holders of the Designated Senior Indebtedness or the Representative of such holders of the acceleration. The Company may is not permitted to pay the Notes until five Business Days after such holders or the Representative of the Designated Senior Indebtedness receive notice of such acceleration andacceleration. At that time, thereafter, the Company may pay the Notes only if the subordination provisions of in this Indenture Article 10 otherwise permit payment at that time.

Appears in 1 contract

Samples: General Nutrition Companies Inc

Acceleration of Notes. If The Company or the Trustee shall promptly notify holders of Designated Senior Indebtedness or their Representative if payment of the Notes is accelerated because of an Event of Default, the Company or the Trustee shall promptly notify the holders of the Designated Senior Indebtedness or the Representative of such holders of the acceleration. The Company may not pay Pay the Notes until five Business Days after such holders or the Representative of the Designated Senior Indebtedness receive receives notice of such acceleration and, thereafterafter that five Business Day period, may pay Pay the Notes only if the subordination provisions of this Indenture Article Ten otherwise permit permits payment at that time.

Appears in 1 contract

Samples: First Supplemental Indenture (Berry Petroleum Co)

Acceleration of Notes. If payment of the Notes is accelerated because of an Event of Default, the Company or the Trustee shall promptly notify the holders of the Designated Senior Indebtedness or the Representative of such holders Debt of the acceleration. The Neither the Company nor any Guarantor may not pay make any payment with respect to the Notes or the Note Guarantees until five Business Days after such the holders or the Representative of the Designated Senior Indebtedness Debt receive notice of such acceleration and, thereafter, may pay make payments with respect to the Notes only if the subordination provisions of this Indenture Article 10 otherwise permit payment at that the time.

Appears in 1 contract

Samples: Pledge and Security Agreement (Unwired Telecom Corp)

Acceleration of Notes. If payment of the Notes is accelerated because of an Event of Default, the Company or the Trustee shall will promptly notify the holders of the Designated Senior Indebtedness or the Representative of such holders of the acceleration. The Company may is not permitted to pay 85 the Notes until five Business Days after such holders or the Representative of the Designated Senior Indebtedness receive notice of such acceleration andacceleration. At that time, thereafter, the Company may pay the Notes only if the subordination provisions of in this Indenture Article 10 otherwise permit payment at that time.

Appears in 1 contract

Samples: Indenture (Nutra Sales Corp)

AutoNDA by SimpleDocs

Acceleration of Notes. If payment of the Notes is accelerated because of an Event of Default, the Company or the Trustee shall promptly notify the holders of the Designated Senior Indebtedness or the Representative of such holders of the acceleration. The Company may not pay the Notes until five Business Days after such holders or the Representative of the Designated Senior Indebtedness receive notice of such acceleration and, thereafter, may pay the Notes only if the subordination provisions of this the Indenture otherwise permit payment at that time.

Appears in 1 contract

Samples: Details Inc

Acceleration of Notes. If payment of the Notes is accelerated because of an Event of Default, the Company or the Trustee Xxxxx Xxxxx GP shall promptly notify the Representative or holders of the Designated Senior Indebtedness or the Representative of such holders of the acceleration. The Company If any Designated Senior Indebtedness is outstanding, neither the Company, Xxxxx Xxxxx GP nor any of the Guarantors may not pay the Notes until five Business Days after such holders or the Representative of the such Designated Senior Indebtedness receive receives notice of such acceleration and, thereafter, may pay the Notes only if the subordination provisions of this Indenture Article Ten otherwise permit permits payment at that time.

Appears in 1 contract

Samples: Indenture (Duane Reade Inc)

Acceleration of Notes. If payment of the Notes is accelerated because of an Event of Default, the Company or the Trustee Co-Obligors shall promptly notify the holders of the Designated Senior Indebtedness or the Representative of such holders of the acceleration. The Company If any Designated Senior Indebtedness is outstanding, neither the Co-Obligors nor any of the Subsidiary Guarantors may not pay the Notes until five Business Days after such holders or the Representative of the such Designated Senior Indebtedness receive receives notice of such acceleration and, thereafter, may pay the Notes only if the subordination provisions of this Indenture Article Ten otherwise permit permits payment at that time.

Appears in 1 contract

Samples: Indenture (Central Credit, LLC)

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