Common use of Acceleration on Default Clause in Contracts

Acceleration on Default. If any Event of Default has occurred and is continuing, the Trustee may in its discretion, and shall upon receipt, of a Debentureholders' Request, subject to section 7.4, by notice in writing to the Corporation declare the principal of and interest on the Debentures then outstanding and any other moneys payable hereunder to be due and payable and the same shall forthwith become immediately due and payable to the Trustee, notwithstanding anything contained therein or herein to the contrary, and the Corporation shall pay forthwith to the Trustee for the benefit of the Debentureholders the principal of and accrued and unpaid interest (including interest on amounts in default) on such Debentures and all other moneys payable hereunder, together with subsequent interest thereon at the rate borne by the Debentures from the date of such declaration until payment is received by the Trustee. Such payment when made shall be deemed to have been made in discharge of the Corporation's obligations hereunder and any moneys so received by the Trustee shall be applied as provided in section 7.7.

Acceleration on Default. If In case any Event of Default has occurred and is continuing, the Trustee may in its discretion, discretion and shall upon receipt, receipt of a Debentureholders' Request’ Request or if so directed by an Extraordinary Resolution, subject to the provisions of section 7.48.03, by notice in writing to the Corporation declare the principal of and interest on the all Debentures then outstanding and any all other moneys payable hereunder to be due and payable and the same shall forthwith become immediately due and payable to the TrusteeTrustee on written demand, notwithstanding anything contained therein or herein to the contrary, and the Corporation contrary notwithstanding. The Company shall in either case forthwith pay forthwith to the Trustee for the benefit of the Debentureholders the principal of and accrued and unpaid interest (including interest on amounts in default) on such Debentures together with the Remaining Interest Premium and all other moneys payable hereunder, together with subsequent interest thereon at the rate borne by the Debentures from the date of such the said declaration until payment is received by the Trustee, such subsequent interest to be payable at the times and places and according to the tenor of the Debentures. Such payment when made shall be deemed to have been made in discharge of the Corporation's obligations Company’s obligation hereunder and any moneys so received by the Trustee shall be applied as in the manner provided in section 7.78.06.

Acceleration on Default. If any Event of Default has occurred and is continuing, the Trustee may in its discretion, and shall upon receipt, receipt of a Debentureholders' RequestRequest (but subject to sufficient funds and/or indemnity having been provided in accordance with section 12.3(2)), subject to section 7.4, by notice in writing to the Corporation declare the principal of and interest on the Debentures then outstanding and any other moneys payable hereunder to be due and payable and the same shall forthwith become immediately due and payable to the Trustee, notwithstanding anything contained therein or herein to the contrary, and the Corporation shall pay forthwith to the Trustee for the benefit of the Debentureholders the principal of and accrued and unpaid interest (including interest on amounts in default) on such Debentures and all other moneys payable hereunder, together with subsequent interest thereon at the rate borne by the Debentures from the date of such declaration until payment is received by the Trustee. Such payment when made shall be deemed to have been made in discharge of the Corporation's obligations hereunder and any moneys so received by the Trustee shall be applied as provided in section 7.7.

Acceleration on Default. If any Event of Default has occurred and is continuing, the Trustee may in its discretion, and shall upon receipt, of a Debentureholders' Request, then subject to section 7.4Article 7, by notice in writing to the Corporation declare the principal amount of and accrued and unpaid interest on the Debentures then outstanding and any other moneys payable hereunder to shall be due and payable and immediately without any declaration or other action by the same shall forthwith become immediately due and payable to Debenture Trustee or the Trustee, notwithstanding Holders. Notwithstanding anything contained therein in this Debenture Indenture or herein the Debentures to the contrary, if the principal amount and any accrued and unpaid interest on the Corporation Debentures are due and payable automatically or by a declaration pursuant to this section 9.3, then, subject to Article 7, the Company shall pay forthwith to the Debenture Trustee for the benefit of the Debentureholders Debentureholders, the principal of and accrued and unpaid interest (including interest on amounts in default) on such Debentures and all other moneys fees and expenses payable hereunder, together with subsequent interest thereon at the rate borne by the Debentures from the date of such amounts are due and payable automatically or by declaration pursuant to this section 9.3 until payment is received by the Debenture Trustee. Such payment when made shall be deemed to have been made in discharge of the Corporation's Company’s obligations hereunder and any moneys so received by the Debenture Trustee shall be applied as provided in section 7.79.7.

Acceleration on Default. If any Event of Default has occurred and is continuing, the Trustee may in its discretion, and shall upon receipt, receipt of a DebentureholdersNoteholders' Request, subject to section 7.4subsection 6.4 and paragraph 9.11(d), by written notice in writing to the Corporation declare the principal of and interest on the Debentures Notes then outstanding and any other moneys payable hereunder to be due and payable and the same shall forthwith become immediately due and payable to the Trustee, notwithstanding anything contained therein or herein to the contrary, and the Corporation shall pay forthwith to the Trustee for the benefit of the Debentureholders Noteholders the principal of and accrued and unpaid interest (including interest on amounts in default) on such Debentures Notes and all other moneys payable hereunder, together with subsequent interest thereon at the rate borne by the Debentures Notes from the date of such declaration until payment is received by the Trustee. Such payment when made shall be deemed to have been made in discharge of the Corporation's obligations hereunder and any moneys so received by the Trustee shall be applied as provided in section 7.7subsection 6.7.

Acceleration on Default. If any Event of Default has occurred and is continuing, the Trustee may in its discretion, and shall upon receipt, receipt of a DebentureholdersNoteholders' Request, subject to section 7.4sections 6.4 and subsection 9.11(d), by notice in writing to the Corporation declare the principal of and interest on the Debentures Notes then outstanding and any other moneys payable hereunder to be due and payable and the same shall forthwith become immediately due and payable to the Trustee, notwithstanding anything contained therein or herein to the contrary, and the Corporation shall pay forthwith to the Trustee for the benefit of the Debentureholders Noteholders the principal of and accrued and unpaid interest (including interest on amounts in default) on such Debentures Notes and all other moneys payable hereunder, together with subsequent interest thereon at the rate borne by the Debentures Notes from the date of such declaration until payment is received by the Trustee. Such payment when made shall be deemed to have been made in discharge of the Corporation's obligations hereunder and any moneys so received by the Trustee shall be applied as provided in section 7.76.7.

Acceleration on Default. If any Event of Default has occurred and is continuing, the Trustee may in its discretion, and shall upon receipt, receipt of a Debentureholders' Request, subject to section 7.4sections 7.4 and 10.11(d), by notice in writing to the Corporation declare the principal amount of and interest on the Debentures then outstanding and any other moneys payable hereunder to be due and payable and the same shall forthwith become immediately due and payable to the Trustee, notwithstanding anything contained therein or herein to the contrary, and the Corporation shall pay forthwith to the Trustee for the benefit of the Debentureholders the principal amount of and accrued and unpaid interest (including interest on amounts in default) on such Debentures and all other moneys payable hereunder, together with subsequent interest thereon at the rate borne by the Debentures from the date of such declaration until payment is received by the Trustee. Such payment when made shall be deemed to have been made in discharge of the Corporation's obligations hereunder and any moneys so received by the Trustee shall be applied as provided in section 7.7.