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 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 Company may 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, may pay the Securities only if this Article 10 otherwise permits payment at that time.

Appears in 3 contracts

Samples: Indenture (Ta Operating Corp), Core Mark International Inc, Carter William Co /Ga/

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Acceleration of Payment of Securities. If payment of the Securities is accelerated because of an Event of Default, the 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 outstandingoutstanding at the time of such acceleration, neither the Company nor any Subsidiary Guarantor may not pay the Securities until five Business Days after such holders or the Representative Representatives of all the issues of Designated Senior Indebtedness receive notice of such acceleration and, thereafter, may pay the Securities only if this Article 10 the Indenture otherwise permits payment at that time.

Appears in 3 contracts

Samples: Indenture (Fairchild Semiconductor International Inc), Fairchild Semiconductor International Inc, Intersil Corp

Acceleration of Payment of Securities. If payment of the Securities is accelerated because of an Event of Default, the Company or and 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 Company may shall not pay the Securities until five Business Days after such holders the holder or the Representative of the such Designated Senior Indebtedness receive receives notice of such acceleration and, thereafter, may pay the Securities Securities, only if this Article 10 otherwise permits payment payments at that time.

Appears in 2 contracts

Samples: Indenture (Viasystems Inc), Indenture (Viasystems Inc)

Acceleration of Payment of Securities. If payment of -------------------------------------- the Securities is accelerated because of an Event of Default, the 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 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, may pay the Securities only if this Article 10 otherwise permits payment at that time.

Appears in 2 contracts

Samples: Indenture (Telecorp PCS Inc), Telecorp Tritel Holding Co

Acceleration of Payment of Securities. If payment of the Securities is accelerated because of an Event of Default, the Company 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 Company may not pay the Securities until five Business Days after such holders (or the Representative their Representative) of the Designated Senior Indebtedness receive notice of such acceleration and, thereafter, may pay the Securities only if this Article 10 otherwise permits payment at that time.

Appears in 1 contract

Samples: Indenture (Argo Tech Corp)

Acceleration of Payment of Securities. If payment of the Securities is accelerated because of an Event of Default, the Company Issuers 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 Company Issuers may not pay the Securities until five Business Days after such holders or the Representative of the Designated 108 101 Senior Indebtedness receive notice of such acceleration and, thereafter, may pay the Securities only if this Article 10 otherwise permits payment at that time.

Appears in 1 contract

Samples: SFG Capital Corp

Acceleration of Payment of Securities. If payment of the Securities is accelerated because of an Event of Default, the Company or the Trustee shall promptly notify the holders of the Designated Specified Senior Indebtedness (or their Representative) of the acceleration. If any Designated Specified Senior Indebtedness is outstanding, the Company may not pay the Securities until five Business Days after such holders or the Representative of the Designated Specified Senior Indebtedness receive notice of such acceleration and, thereafter, may pay the Securities only if this Article 10 otherwise permits payment at that time.

Appears in 1 contract

Samples: Indenture (Magellan Health Services Inc)

Acceleration of Payment of Securities. If payment of the Securities is accelerated because of an Event of Default, the Company or the Trustee at the direction of the Company shall promptly notify the holders of the Designated Senior Indebtedness (or their RepresentativeRepresentatives) of the acceleration. If any Designated Senior Indebtedness is outstanding, the 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, may pay the Securities only if this Article 10 otherwise permits payment at that time.

Appears in 1 contract

Samples: Retention Agreement (Hexcel Corp /De/)

Acceleration of Payment of Securities. If payment of the Securities is accelerated because of an Event of Default, the 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 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, may pay the Securities only if this Article 10 Fifteen otherwise permits payment payments at that time.

Appears in 1 contract

Samples: Apex Silver Mines LTD

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Acceleration of Payment of Securities. If payment of -------------------------------------- the Securities is accelerated because of an Event of Default, the Company 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 Company may 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, may pay the Securities only if this Article 10 otherwise permits payment at that time.

Appears in 1 contract

Samples: Ryder TRS Inc

Acceleration of Payment of Securities. If payment of the Securities is accelerated because of an Event of Default, the Company 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 Company may 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, may shall pay the Securities only if this Article 10 otherwise permits payment at that time.

Appears in 1 contract

Samples: Corning Consumer Products Co

Acceleration of Payment of Securities. If payment of the Securities is accelerated because of an Event of Default, the Company or the Trustee shall promptly notify the known holders of the Designated Senior Indebtedness (or their Representative) of the acceleration. If any Designated Senior Indebtedness is outstanding, the Company may not pay the Securities until five Business Days after such holders (or the Representative their Representative) of the Designated Senior Indebtedness receive notice of such acceleration and, thereafter, may pay the Securities only if this Article 10 otherwise permits payment at that time.

Appears in 1 contract

Samples: Argo Tech Corp

Acceleration of Payment of Securities. If payment of the Securities is accelerated because of an Event of Default, the 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 of the Company is outstanding, the Company may not pay the Securities until five Business Days after the Representatives of all the issues of such holders or the Representative of the Designated Senior Indebtedness receive notice of such acceleration and, thereafter, may pay the Securities Securities, only if this Article 10 otherwise permits payment payments at that time.

Appears in 1 contract

Samples: Indenture (Mediq Inc)

Acceleration of Payment of Securities. If payment of the Securities is accelerated because of an Event of Default, the Company or the Trustee shall promptly notify the holders of the Designated Senior Indebtedness of the Company (or their RepresentativeRepresentatives) of the acceleration. If any Designated Senior Indebtedness is outstanding, the Company may shall not pay the Securities until five Business Days after such holders or the Representative Representatives of all the issues of Designated Senior Indebtedness receive notice of such acceleration and, thereafter, may shall be entitled to pay the Securities only if this Article 10 otherwise permits payment at that time.

Appears in 1 contract

Samples: Asset Purchase Agreement (Wix Filtration Media Specialists, Inc.)

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