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 Representatives) of the acceleration. If any Designated Senior Indebtedness is outstanding at the time of such acceleration, neither the Company nor any Subsidiary Guarantor may pay the Securities until five Business Days after the Representatives of all the issues of Designated Senior Indebtedness receive notice of such acceleration and, thereafter, may pay the Securities only if the Indenture otherwise permits payment at that time.

Appears in 3 contracts

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

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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 of the Company (or their Representatives) of the acceleration. If any Designated Senior Indebtedness is outstanding at the time of such accelerationoutstanding, neither the Company nor any Subsidiary Guarantor may shall not be permitted to pay the Securities until five Business Days after the Representatives of all the issues of Designated Senior Indebtedness receive notice of such acceleration and, thereafter, may pay the Securities only if the this Indenture otherwise permits payment at that time.

Appears in 2 contracts

Samples: Indenture (Brand Services), Indenture (Brand Services)

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 Representatives) of the acceleration. If any Designated Senior Indebtedness is outstanding at the time of such accelerationoutstanding, neither the Company nor any Subsidiary Guarantor may not pay the Securities until five Business Days after the Representatives of all the issues of Designated Senior Indebtedness receive notice of such acceleration and, thereafter, may pay the Securities only if the Indenture this Article Twelve otherwise permits payment payments at that time.

Appears in 2 contracts

Samples: Indenture (COLORADO INTERSTATE ISSUING Corp), Indenture (Hillenbrand Industries Inc)

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 their Representatives) of the acceleration. If any Designated Senior Indebtedness is outstanding at the time of such acceleration, neither the Company nor any Subsidiary Guarantor may pay the Securities until five Business Days after the Representatives of all the issues of Designated Senior Indebtedness receive notice of such acceleration and, thereafter, may pay the Securities only if the Indenture otherwise permits payment at that time.

Appears in 1 contract

Samples: Indenture (Chippac LTD)

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 Representatives) of the acceleration. If any Designated Senior Indebtedness is outstanding at the time of such acceleration, neither the Company nor any Subsidiary Guarantor may not pay the Securities Securityholders until five Business Days after the Representatives of all the issues of Designated Senior Indebtedness receive notice of such acceleration and, thereafter, may pay the Securities Securityholders only if the Indenture otherwise permits payment at that time.

Appears in 1 contract

Samples: Indenture (King Pharmaceuticals Inc)

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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 Representatives) of the acceleration. If any Designated Senior Indebtedness is outstanding at the time of such acceleration, neither the Company nor any Subsidiary Guarantor may pay the Securities until five Business Days after the Representatives of all the issues of Designated Senior Indebtedness receive notice of such acceleration and, thereafter, may pay the Securities only if the Indenture otherwise permits payment at that time.. 85 77

Appears in 1 contract

Samples: Indenture (Fairchild Semiconductor International 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 Representatives) of the acceleration. If any Designated Senior Indebtedness is outstanding at the time of such acceleration, neither the Company nor any Subsidiary Guarantor may not pay the Securities until five Business Days after the Representatives of all the issues of Designated Senior Indebtedness receive notice of such acceleration and, thereafter, may pay the Securities only if the Indenture otherwise permits payment at that time.

Appears in 1 contract

Samples: Indenture (Skyworks Solutions 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 Representatives) of the acceleration. If any Designated Senior Indebtedness is outstanding at the time of such acceleration, neither the Company nor any Subsidiary Guarantor may pay the Securities until five Business Days after the respective Representatives of all each of the issues of Designated Senior Indebtedness receive notice of such acceleration and, thereafter, may pay the Securities only if the this Indenture otherwise permits payment at that time.

Appears in 1 contract

Samples: Indenture (Interactive Media Corp)

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