Acceleration of Payment of Securities. If payment of the Securities of any series is accelerated because of an Event of Default, the Issuer or the Trustee shall promptly notify the holders of the Designated Senior Indebtedness (or their Representative) of the acceleration. If any Designated Senior Indebtedness is outstanding, the Issuer shall not pay the Securities until five Business Days after such holders or the Representative of the Designated Senior Indebtedness receive notice of such acceleration and, thereafter, shall pay the Securities only if this Article Four otherwise permits payment at that time.
Appears in 12 contracts
Samples: Indenture (Willis Netherlands Holdings B.V.), Indenture (Willis Netherlands Holdings B.V.), Indenture (Willis Netherlands Holdings B.V.)
Acceleration of Payment of Securities. If payment of the Securities of any series is accelerated because of an Event of Default, the Issuer Company or the Trustee shall promptly notify the holders of the Designated Senior Indebtedness of the Company (or their Representative) of the acceleration. If any Designated Senior Indebtedness of the Company is outstanding, the Issuer shall Company may not pay the Securities until five Business Days after such holders or the Representative of the such Designated Senior Indebtedness receive notice of such acceleration and, thereafter, shall may pay the Securities only if this Article Four 10 otherwise permits payment at that time.
Appears in 3 contracts
Samples: Indenture (Volume Services America Inc), Indenture (Volume Services America Holdings Inc), Indenture (Pliant Corp International)
Acceleration of Payment of Securities. If payment of the Securities of any series is accelerated because of an Event of Default, the Issuer or the Trustee shall promptly notify the holders of the Designated Senior Indebtedness (or their Representative) of the acceleration. If Default and if any Designated Senior Indebtedness is outstanding, the Issuer Guarantor shall not pay the Securities until five Business Days after such the holders or the Representative of the Designated Senior Indebtedness receive receives notice of such acceleration as provided in the Indenture and, thereafter, shall may pay the Securities only if this Article Four III otherwise permits payment payments at that time.
Appears in 3 contracts
Samples: Indenture (Nebraska Book Co), Indenture (NBC Acquisition Corp), Subsidiary Guarantee (Nebraska Book Co)
Acceleration of Payment of Securities. If payment of the Securities of any series is accelerated because of an Event of Default, the Issuer Company or the Trustee shall promptly notify the holders of the Designated Senior Indebtedness (or their RepresentativeRepresentatives) of the acceleration. If any Designated Senior Indebtedness is outstanding, the Issuer shall Company may not pay the Securities until five Business Days after such holders or the Representative Representatives of the Designated Senior Indebtedness receive notice of such acceleration and, thereafter, shall may pay the Securities only if this Article Four Twelve otherwise permits payment payments at that time.
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