Common use of Acceleration; Rescission and Annulment Clause in Contracts

Acceleration; Rescission and Annulment. If one or more Events of Default shall have occurred and be continuing (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body), then, and in each and every such case (other than an Event of Default specified in Section 6.02(h) or Section 6.02(i)), unless the principal of all of the Securities shall have already become due and payable, either the Trustee or the holders of at least 25% in aggregate principal amount of the Securities then Outstanding, by notice in writing to the Company (and to the Trustee if given by the Holders), may declare 100% of the principal of, and accrued and unpaid interest, if any, on all the Securities to be due and payable immediately. If an Event of Default specified in Section 6.02(h) or Section 6.02(i) occurs and is continuing, the principal of, and accrued and unpaid interest, if any, on all Securities shall be immediately due and payable.

Appears in 3 contracts

Samples: First Supplemental Indenture (Mfa Financial, Inc.), First Supplemental Indenture (Granite Point Mortgage Trust Inc.), First Supplemental Indenture (Granite Point Mortgage Trust Inc.)

AutoNDA by SimpleDocs

Acceleration; Rescission and Annulment. If one or more Events of Default shall have occurred and be continuing (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body), then, and in each and every such case (other than an Event of Default specified in Section 6.02(h6.01(g) or Section 6.02(i))6.01(h) with respect to the Company, unless the principal of all of the Securities Notes shall have already become due and payable), either the Trustee Representative or the holders Holders of at least 25% in aggregate principal amount of the Securities Notes then Outstandingoutstanding determined in accordance with Section 8.01 and Section 8.02, in each case, by notice in writing to the Company (and to the Trustee Representative if given by the Holders), may declare 100% of the principal amount of, and accrued and unpaid interest, if any, on all the Securities Notes (as well as all other Agreement Obligations) to be due and payable in cash immediately, and upon any such declaration the same shall become and shall automatically be immediately due and payable, anything contained in this Agreement or in the Notes to the contrary notwithstanding. If an Event of Default specified in Section 6.02(h6.01(g) or Section 6.02(i6.01(h) with respect to the Company occurs and is continuing, 100% of the principal amount of, and accrued and unpaid interest, if any, on on, all Securities Notes (as well as all other Agreement Obligations) shall automatically become and be immediately due and payablepayable in cash without any declaration or other act on the part of the Representative or any Holder.

Appears in 3 contracts

Samples: Note Issuance Agreement (Appgate, Inc.), Note Issuance Agreement (Appgate, Inc.), Note Issuance Agreement (Appgate, Inc.)

Acceleration; Rescission and Annulment. If In case one or more Events of Default shall have occurred and be continuing (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body), then, and in each and every such case (other than an Event of Default specified in Section 6.02(h6.01(h) or Section 6.02(i6.01(i) with respect to the Company or any of its Significant Subsidiaries)), unless the principal of all of the Securities shall have already become due and payable, either the Trustee by notice in writing to the Company, or the holders Holders of at least 25% in aggregate principal amount of the Securities Notes then Outstandingoutstanding, by notice in writing to the Company (and to the Trustee if given by the Holders)Trustee, may declare 100% of the principal of, and accrued and unpaid interest, if any, on on, all the Securities Notes to be due and payable immediately, and upon any such declaration the same shall become and shall be immediately due and payable. If an Event of Default specified in Section 6.02(h6.01(h) or Section 6.02(i6.01(i) with respect to the Company or any of its Significant Subsidiaries occurs and is continuing, 100% of the principal of, and accrued and unpaid interest, if any, on on, all Securities Notes shall become and shall automatically be immediately due and payable.

Appears in 1 contract

Samples: Indenture (Unisys Corp)

Acceleration; Rescission and Annulment. If one or more Events of Default shall have occurred and be continuing (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body), then, and in each and every such case (other than an Event of Default specified in Section 6.02(h6.01(h) or Section 6.02(i)6.01(i) with respect to the Company), unless the principal of all of the Securities Notes shall have already become due and payable, either the Trustee or the holders Holders of at least 25% in aggregate principal amount of the Securities Notes then Outstandingoutstanding determined in accordance with Section 8.04, by notice in writing to the Company (and to the Trustee if given by the Holders), may declare 100% of the principal of, premium, if any, of and accrued and unpaid interest on, all the Notes to be due and payable immediately, and upon any such declaration the same shall become and shall automatically be immediately due and payable, anything contained in this Indenture or in the Notes to the contrary notwithstanding. If an Event of Default specified in Section 6.01(h) or Section 6.01(i) with respect to the Company occurs and is continuing, 100% of the principal of, and accrued and unpaid interest, if any, on on, all the Securities to be due Notes shall become and payable immediately. If an Event of Default specified in Section 6.02(h) or Section 6.02(i) occurs and is continuing, the principal of, and accrued and unpaid interest, if any, on all Securities shall automatically be immediately due and payable.

Appears in 1 contract

Samples: Indenture (Kaleyra, Inc.)

AutoNDA by SimpleDocs

Acceleration; Rescission and Annulment. If one or more Events of Default shall have occurred and be continuing (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body), then, and in each and every such case (other than an Event of Default specified in Section 6.02(h5.01(i) or Section 6.02(i)5.01(j) with respect to the Company or any of its Significant Subsidiaries), unless the principal of all of the Securities Notes shall have already become due and payable, either the Trustee or the holders Holders of at least 25% in aggregate principal amount of the Securities Notes then Outstandingoutstanding determined subject to Section 6.04 (Requisite Aggregate Principal Amount; Company-Owned Notes Disregarded) may, by notice in writing to the Company (and Company, declare up to the Trustee if given by the Holders), may declare 100% of the principal of, and accrued and unpaid interestinterest on, if any, on all the Securities Notes to be due and payable immediately, and upon any such declaration the same shall become and shall automatically be immediately due and payable, notwithstanding anything contained in these Conditions or in the Notes to the contrary. If an Event of Default specified in Section 6.02(h5.01(i) or Section 6.02(i5.01(j) with respect to the Company or any of its Significant Subsidiaries occurs and is continuing, 100% of the principal of, and accrued and unpaid interestinterest on, if any, on all Securities Notes shall become and shall automatically be immediately due and payable.

Appears in 1 contract

Samples: Subscription Agreement (Oatly Group AB)

Acceleration; Rescission and Annulment. If one or more Events of Default shall have occurred and be continuing (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body), then, and in each and every such case (other than an Event of Default specified in Section 6.02(h6.01(j) or Section 6.02(i)6.01(k) with respect to the Company or any of its Material Subsidiaries), unless the principal of all of the Securities Notes shall have already become due and payable, either the Trustee or the holders Holders of at least 25% in aggregate principal amount of the Securities Notes then OutstandingOutstanding determined in accordance with Section 8.04, by notice in writing to the Company (and to the Trustee if given by the Holders), may declare 100% of the principal of, and accrued and unpaid interestinterest on, if any, on all the Securities Notes to be due and payable immediately, and upon any such declaration the same shall automatically become and shall automatically be immediately due and payable, anything contained in this Indenture or in the Notes to the contrary notwithstanding. If an Event of Default specified in Section 6.02(h6.01(j) or Section 6.02(i6.01(k) with respect to the Company or any of its Material Subsidiaries occurs and is continuing, 100% of the principal of, and accrued and unpaid interest, if any, on on, all Securities Notes shall automatically become and shall automatically be immediately due and payable.

Appears in 1 contract

Samples: Indenture (Karyopharm Therapeutics Inc.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!