Common use of Acceleration of Payment of Securities Clause in Contracts

Acceleration of Payment of Securities. If payment of the Securities is accelerated because of an Event of Default, the Company shall promptly notify the holders of the Designated Senior Indebtedness or the Representative of such holders of the acceleration and provide copies of such notices to the Trustee. If any Designated Senior Indebtedness is outstanding at the time of such acceleration, the Company may not pay the Securities until the earlier of five Business Days after the holder or Representative of such Designated Senior Indebtedness receives notice of such acceleration or the date of acceleration of such Designated Senior Indebtedness and, thereafter, may pay the Securities only if this Article X otherwise permits payments at that time.

Acceleration of Payment of Securities. If payment of the Securities is accelerated because of an Event of Default, the Company Issuer or the Trustee shall promptly notify the holders of the Designated Senior Indebtedness or the Representative of such holders Designated Senior Indebtedness of the acceleration and provide copies acceleration; provided that any failure to give such notice shall have no effect whatsoever on the provisions of such notices to the Trusteethis Article 12. If any Designated Senior Indebtedness is outstanding at the time of such accelerationoutstanding, the Company Issuer may not pay the Securities until the earlier of five Business Days after the holder or Representative Representatives of all such Designated Senior Indebtedness receives receive notice of such acceleration or the date of acceleration of such Designated Senior Indebtedness and, thereafter, may pay the Securities only if this Article X Indenture otherwise permits payments payment at that time.