Additional Event of Default. With respect to the Notes, the occurrence of any of the following events shall, in addition to the other events or circumstances described as Events of Default in Section 5.1 of the Original Indenture, constitute an Event of Default: default under any mortgage, indenture or instrument under which there may be issued or by which there may be secured or evidenced any Indebtedness of the Company or any of its Significant Subsidiaries (or the payment of which is guaranteed by the Company or any of its Significant Subsidiaries), whether such Indebtedness or guarantee now exists or is created after the date of issuance of the Notes, if (a) that default (x) is caused by a failure to pay principal of or premium, if any, or interest on such Indebtedness prior to the expiration of the grace period provided in such Indebtedness on the date of such default (a “Payment Default”), or (y) results in the acceleration of such Indebtedness prior to its express maturity, and (b) in each case described in clauses (x) or (y) above, the principal amount of any such Indebtedness, together with the principal amount of any other such Indebtedness under which there has been a Payment Default or the maturity of which has been so accelerated, aggregates $35.0 million or more.
Appears in 6 contracts
Samples: Seventh Supplemental Indenture (Rowan Companies PLC), Sixth Supplemental Indenture (Rowan Companies PLC), Fifth Supplemental Indenture (Rowan Companies PLC)
Additional Event of Default. With respect to the Notes, the occurrence of any of the following events shall, in addition to the other events or circumstances described as Events of Default in Section 5.1 5.01 of the Original Indenture, constitute an Event of Default: default under any mortgage, indenture or instrument under which there may be issued or by which there may be secured or evidenced any Indebtedness of the Company Partnership or any of its Significant Subsidiaries (or the payment of which is guaranteed by the Company Partnership or any of its Significant Subsidiaries), whether such Indebtedness or guarantee now exists or is created after the date of issuance of the any Notes, if (a) that default (x) is caused by a failure to pay principal of or premium, if any, or interest on such Indebtedness prior to the expiration of the any grace period provided in such Indebtedness on the date of such default (a “Payment Default”), or (y) results in the acceleration of the maturity of such Indebtedness to a date prior to its express originally stated maturity, and and, (b) in each case described in clauses (x) or (y) above, the principal amount of any such Indebtedness, together with the principal amount of any other such Indebtedness under which there has been a Payment Default or the maturity of which has been so accelerated, aggregates $35.0 million 50,000,000 or more.
Appears in 6 contracts
Samples: Eleventh Supplemental Indenture (Buckeye Partners, L.P.), Tenth Supplemental Indenture (Buckeye Partners, L.P.), Ninth Supplemental Indenture (Buckeye Partners, L.P.)
Additional Event of Default. With respect to the Notes, the occurrence of any of the following events shall, in addition to the other events or circumstances described as Events of Default in Section 5.1 5.01 of the Original Indenture, constitute an Event of Default: default under any mortgage, indenture or instrument under which there may be issued or by which there may be secured or evidenced any Indebtedness of the Company Partnership or any of its Significant Subsidiaries (or the payment of which is guaranteed by the Company Partnership or any of its Significant Subsidiaries), whether such Indebtedness or guarantee now exists or is created after the date of issuance of the any Notes, if (a) that default (x) is caused by a failure to pay principal of or premium, if any, or interest on such Indebtedness prior to the expiration of the any grace period provided in such Indebtedness on the date of such default (a “Payment Default”"PAYMENT DEFAULT"), or (y) results in the acceleration of the maturity of such Indebtedness to a date prior to its express originally stated maturity, and and, (b) in each case described in clauses (x) or (y) above, the principal amount of any such Indebtedness, together with the principal amount of any other such Indebtedness under which there has been a Payment Default or the maturity of which has been so accelerated, aggregates $35.0 million 50,000,000 or more.
Appears in 3 contracts
Samples: First Supplemental Indenture (Buckeye Partners L P), Third Supplemental Indenture (Buckeye Partners L P), Second Supplemental Indenture (Buckeye Partners L P)
Additional Event of Default. With respect to the Notes, the occurrence of any of the following events shall, in addition to the other events or circumstances described as Events of Default in Section 5.1 5.01 of the Original Indenture, constitute an Event of Default: default under any mortgage, indenture or instrument under which there may be issued or by which there may be secured or evidenced any Indebtedness of the Company Partnership or any of its Significant Subsidiaries (or the payment of which is guaranteed by the Company Partnership or any of its Significant Subsidiaries), whether such Indebtedness or guarantee now exists or is created after the date of issuance of the any Notes, if (a) that default (x) is caused by a failure to pay principal of or premium, if any, or interest on such Indebtedness prior to the expiration of the any grace period provided in such Indebtedness on the date of such default (a “Payment Default”), or (y) results in the acceleration of the maturity of such Indebtedness to a date prior to its express originally stated maturity, and and, (b) in each case described in clauses (x) or (y) above, the principal amount of any such Indebtedness, together with the principal amount of any other such Indebtedness under which there has been a Payment Default or the maturity of which has been so accelerated, aggregates $35.0 million 50,000,000 or more.. 3 Eighth Supplemental Indenture
Appears in 1 contract
Samples: Eighth Supplemental Indenture (Buckeye Partners, L.P.)