Common use of Acceleration of Securities Clause in Contracts

Acceleration of Securities. In the event that any Securities are declared due and payable before their Stated Maturity pursuant to Section 6.2, then and in each such event the Company and the Guarantor (if the Securities are Guaranteed Securities) shall promptly notify holders of Senior Indebtedness of such acceleration. The Company or the Guarantor, as the case may be, may not pay the Securities until 120 days have passed after such acceleration occurs and may thereafter pay the Securities if this Article XII permits the payment at that time. In the event that, notwithstanding the foregoing, the Company and the Guarantor (if the Securities are Guaranteed Securities) shall make any payment to the Trustee or the Holder of any Securities prohibited by the foregoing provisions of this Section 12.3, and if such facts then shall have been known or thereafter shall have been made known to the Trustee (as provided in Section 12.10) or to such Holder, as the case may be, pursuant to the terms of this Indenture, then and in each such event such payment shall be paid over and delivered forthwith to the Company or the Guarantor, as the case may be, for the benefit of the holders of Senior Indebtedness by or on behalf of the person holding such payment. The provisions of this Section 12.3 shall not apply to any payment with respect to which Section 12.2 would be applicable.

Acceleration of Securities. In the event that any Securities are declared due and payable before their Stated Maturity pursuant to Section 6.2Maturity, then and in each such event the Company and holders of Senior Debt shall be entitled to receive payment in full of all amounts due or to become due on or in respect of all Senior Debt or provision shall be made for such payment in cash, before the Guarantor (if Holders of the Securities are Guaranteed entitled to receive any payment (including any payment which may be payable by reason of the payment of any other indebtedness of the Company being subordinated to the payment of the Securities) by the Company on account of the principal of, premium, if any, Additional Amounts, if any or interest on the Securities or on account of the purchase or other acquisition of Securities; provided, however, that nothing in this Section shall promptly notify prevent the satisfaction of any sinking fund payment in accordance with Article Twelve by delivering and crediting pursuant to Section 1202 Securities which have been acquired (upon redemption or otherwise) prior to such declaration of acceleration; provided, further, money deposited pursuant to Section 402 not in violation of this Indenture shall not be subject to the claims of holders of Senior Indebtedness of such acceleration. The Company or the Guarantor, as the case may be, may not pay the Securities until 120 days have passed after such acceleration occurs and may thereafter pay the Securities if this Article XII permits the payment at that timeDebt. In the event that, notwithstanding the foregoingforgoing, the Company and the Guarantor (if the Securities are Guaranteed Securities) shall make any payment to the Trustee or the Holder of any Securities Security prohibited by the foregoing provisions of this Section 12.3Section, and if such facts then shall have been known fact shall, at or thereafter shall prior to the time of such payment, have been made known to a Responsible Officer of the Trustee (as provided in Section 12.10) or to such Holderwriting or, as the case may be, pursuant to the terms of this Indenturesuch Holder, then and in each such event such payment shall be paid over and delivered forthwith to the Company or the Guarantor, as the case may be, for the benefit of the holders of Senior Indebtedness by or on behalf of the person holding such payment. The provisions of this Section 12.3 shall not apply to any payment with respect to which Section 12.2 would be applicableCompany.

Acceleration of Securities. In the event that any Securities are declared due and payable before their Stated Maturity pursuant to Section 6.26.02, then and in each such event the Company and the Guarantor (if the Securities are Guaranteed Securities) shall promptly notify holders of Senior Indebtedness of such acceleration. The Company or the Guarantor, as the case may be, may not pay the Securities until the earlier of (i) 120 or more days have passed after such acceleration occurs or (ii) the payment in full in cash of all Senior Indebtedness or as payment thereof is otherwise provided for (as such phrase is defined below), and may thereafter pay the Securities if this Article XII Indenture permits the payment at that time; provided, however, that with respect to payments made after the 120-day period referred to in clause (i) of this Section 10.03, the Trustee or the Holder of any Securities shall pay over and deliver forthwith to the Company for the benefit of the holders of Senior Indebtedness any amounts received by the Trustee or any such Holder to the extent necessary to pay all holders of Senior Indebtedness in full in cash or otherwise provide for such payment thereof (as such phrase is defined above). In the event that, notwithstanding the foregoing, (a) the Company and the Guarantor (if the Securities are Guaranteed Securities) shall make any payment to the Trustee or the Holder of any Securities prohibited by the foregoing provisions of this Section 12.310.03, and (b) with respect to any payment made after 120 or more days have passed after such acceleration occurs if such facts then shall have been known shall, at or thereafter shall prior to the time of such payment, have been made known to the Trustee (as provided in Section 12.10) or to such Holderor, as the case may be, pursuant to the terms of this Indenturesuch Holder, then and in each such event such payment shall be paid over and delivered forthwith to the Company or the Guarantor, as the case may be, for the benefit of the holders of Senior Indebtedness by or on behalf of the person holding such paymentpayment for the benefit of the holders of Senior Indebtedness. The provisions of this Section 12.3 10.03 shall not apply to any payment with respect to which Section 12.2 10.02 would be applicable.

Acceleration of Securities. In the event that any Securities are declared due and payable before their Stated Maturity pursuant to Section 6.2stated maturity, then and in each such event the Company and the Guarantor (if the Securities are Guaranteed Securities) shall promptly notify holders of Senior Indebtedness outstanding at the time such Securities become due and payable shall be entitled to receive payment in full of all amounts due or to become due on or in respect of all Senior Indebtedness, or provision shall be made for such acceleration. The Company payment in money or money's worth, before the Guarantor, as the case may be, may not pay Holders of the Securities until 120 days have passed after such acceleration occurs and are entitled to receive any payment (including any payment which may thereafter pay be payable by reason of the payment of any other indebtedness of the Company being subordinated to the payment of the Securities) by the Company on account of the principal of (or premium, if any) or interest on the Securities if this or on account of the purchase or other acquisition of Securities (except that Holders of the Securities may receive (A) Permitted Junior Securities and (B) payments and other distributions made from any trust created pursuant to Article XII permits the payment at that timeX). In the event that, notwithstanding the foregoing, the Company and the Guarantor (if the Securities are Guaranteed Securities) shall make any payment to the Trustee or the Holder of any Securities prohibited by the foregoing provisions of this Section 12.314.3, and if such facts then shall have been known or thereafter shall have been made known to the Trustee (as provided in Section 12.1014.10) or to such Holder, as the case may be, pursuant to the terms of this Indenture, then and in each such event such payment shall be paid over and delivered forthwith to the Company by or on behalf of the Guarantor, as the case may be, Person holding such payment for the benefit of the holders of Senior Indebtedness by or on behalf of the person holding such paymentIndebtedness. The provisions of this Section 12.3 14.3 shall not apply to any payment with respect to which Section 12.2 14.2 would be applicable.

Acceleration of Securities. In the event that any Securities are declared due and payable before their Stated Maturity pursuant to Section 6.2Maturity, then and in each such event the Company and the Guarantor (if the Securities are Guaranteed Securities) shall promptly notify holders of Senior Indebtedness outstanding at the time such Securities become due and payable shall be entitled to receive payment in full of all amounts due or to become due on or in respect of all Senior Indebtedness, or provision shall be made for such acceleration. The Company payment in money or money's worth, before the Guarantor, as the case may be, may not pay Holders of the Securities until 120 days have passed after such acceleration occurs and are entitled to receive any payment (including any payment which may thereafter pay be payable by reason of the payment of any other indebtedness of the Company being subordinated to the payment of the Securities) by the Company on account of the principal of (or premium, if any) or interest on the Securities if this or on account of the purchase or other acquisition of Securities (except that Holders of the Securities may receive (A) Permitted Junior Securities and (B) payments and other distributions made from any trust created pursuant to Article XII permits the payment at that timeVIII). In the event that, notwithstanding the foregoing, the Company and the Guarantor (if the Securities are Guaranteed Securities) shall make any payment to the Trustee or the Holder of any Securities prohibited by the foregoing provisions of this Section 12.3, and if such facts then shall have been known or thereafter shall have been made known to the Trustee (as provided in Section 12.10) or to such Holder, as the case may be, pursuant to the terms of this Indenture, then and in each such event such payment shall be paid over and delivered forthwith to the Company or the Guarantor, as the case may be, for the benefit of the holders of Senior Indebtedness by or on behalf of the person holding such paymentpayment for the benefit of the holders of Senior Indebtedness. The provisions of this Section 12.3 shall not apply to any payment with respect to which Section 12.2 would be applicable.

Acceleration of Securities. In the event that any Securities are declared due and payable before their Stated Maturity pursuant to Section 6.2stated maturity, then and in each such event the Company and the Guarantor (if the Securities are Guaranteed Securities) shall promptly notify holders of Senior Indebtedness outstanding at the time such Securities become due and payable shall be entitled to receive payment in full of all amounts due or to become due on or in respect of all Senior Indebtedness, or provision shall be made for such acceleration. The Company payment in money or money's worth, before the Guarantor, as the case may be, may not pay Holders of the Securities until 120 days have passed after such acceleration occurs and are entitled to receive any payment (including any payment which may thereafter pay be payable by reason of the payment of any other indebtedness of the Company being subordinated to the payment of the Securities) by the Company on account of the principal of (or premium, if any) or interest on the Securities if this or on account of the purchase or other acquisition of Securities (except that Holders of the Securities may receive (A) Permitted Junior Securities and (B) payments and other distributions made from any trust created pursuant to Article XII permits the payment at that timeTen). In the event that, notwithstanding the foregoing, the Company and the Guarantor (if the Securities are Guaranteed Securities) shall make any payment to the Trustee or the Holder of any Securities prohibited by the foregoing provisions of this Section 12.315.3, and if such facts then shall have been known or thereafter shall have been made known to the Trustee (as provided in Section 12.1015.10) or to such Holder, as the case may be, pursuant to the terms of this Indenture, then and in each such event such payment shall be paid over and delivered forthwith to the Company by or on behalf of the Guarantor, as the case may be, Person holding such payment for the benefit of the holders of Senior Indebtedness by or on behalf of the person holding such paymentIndebtedness. The provisions of this Section 12.3 15.3 shall not apply to any payment with respect to which Section 12.2 15.2 would be applicable.

Acceleration of Securities. In the event that any Securities are declared due and payable before their Stated Maturity pursuant to Section 6.2Maturity, then and in each such event the Company and holders of Senior Debt shall be entitled to receive payment in full of all amounts due or to become due on or in respect of all Senior Debt or provision shall be made for such payment in cash, before the Guarantor (if Holders of the Securities are Guaranteed entitled to receive any payment (including any payment which may be payable by reason of the payment of any other indebtedness of the Company being subordinated to the payment of the Securities) shall promptly notify holders by the Company on account of Senior Indebtedness of such acceleration. The Company the principal of, premium, if any, Additional Amounts, if any or the Guarantor, as the case may be, may not pay interest on the Securities until 120 days or on account of the purchase or other acquisition of Securities; provided, however, that nothing in this Section shall prevent the satisfaction of any sinking fund payment in accordance with Article V by delivering and crediting pursuant to Section 5.2 Securities which have passed after been acquired (upon redemption or otherwise) prior to such acceleration occurs and may thereafter pay the Securities if this Article XII permits the payment at that timedeclaration of acceleration. In the event that, notwithstanding the foregoingforgoing, the Company and the Guarantor (if the Securities are Guaranteed Securities) shall make any payment to the Trustee or the Holder of any Securities Security prohibited by the foregoing provisions of this Section 12.3Section, and if such facts then shall have been known fact shall, at or thereafter shall prior to the time of such payment, have been made known to a Responsible Officer of the Trustee (as provided in Section 12.10) or to such Holderwriting or, as the case may be, pursuant to the terms of this Indenturesuch Holder, then and in each such event such payment shall be paid over and delivered forthwith to the Company or the Guarantor, as the case may be, for the benefit of the holders of Senior Indebtedness by or on behalf of the person holding such payment. The provisions of this Section 12.3 shall not apply to any payment with respect to which Section 12.2 would be applicableCompany.