Common use of Annulment of Acceleration of Notes Clause in Contracts

Annulment of Acceleration of Notes. If notice is delivered (a) pursuant to clause (ii) of Section 13.1 hereof by any holder or holders of a Note or Notes, then such holder or each of such holders, as the case may be, may, by written instrument filed with the Company, rescind and annul its respective declaration and the consequences thereof; or (b) pursuant to clause (iii) of Section 13.1 hereof, by any holder or holders of a Note or Notes, then the holders of more than 50% of the Notes then outstanding may, in respect of all the Notes, by written instrument filed with the Company, rescind and annul such declaration and the consequences thereof or of such Event of Default pursuant to this Agreement; provided, however, that at the time of an annulment and rescission pursuant to the foregoing clause (a) or (b) of this Section 13.4: (i) no judgment or decree shall have been entered for payment of any monies due pursuant to the Notes or this Agreement; (ii) all arrears of principal, premium and interest upon all the Notes and all other sums payable under the Notes and this Agreement (including reasonable costs and expenses of the holders incurred in connection with such notice under Section 15.1 hereof or annulment under this Section 13.4, but excluding any principal of or interest on the Notes that shall have become due and payable by reason of such notice under Section 13.1 hereof or occurrence of such Event of Default) shall have been duly paid; and (iii) each and every other Default and Event of Default hereunder shall have been waived pursuant to Section 13.4 hereof or cured; and provided, further, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right or power consequent thereon.

Annulment of Acceleration of Notes. If notice is delivered (a) ------------------------------------- pursuant to clause (ii) of Section 13.1 ss.11.1 hereof by any holder or holders of a Note or Notes, Notes then such holder or each of such holders, as the case may be, may, by written instrument filed with the Company, rescind and annul its respective declaration and the consequences thereof; or and (b) pursuant to clause (iii) of Section 13.1 ss.11.1 hereof, by any holder or holders of a Note or Notes, then the holders of more than 50% sixty six and two-thirds percent (66 2/3%) of the aggregate principal amount of the Notes then outstanding (excluding any Notes directly or indirectly owned by the Company or any Affiliate thereof) may, in respect of all the Notes, by written instrument filed with the Company, rescind and annul such declaration and the consequences thereof or of such Event of Default pursuant to this Agreement; provided, however, that at the time of an annulment and -------- ------- rescission pursuant to the foregoing clause (a) or (b) of this Section 13.4:ss.11.4(b): (i) no judgment or decree shall have been entered for payment of any monies due pursuant to the Notes or this Agreement; (ii) all arrears of principal, premium and interest upon all the Notes and all other sums payable under the Notes and this Agreement (including reasonable costs and expenses of the holders incurred in connection with such notice under Section 15.1 ss.11.1 hereof or annulment under this Section 13.4ss.11.4, but excluding any principal of or interest on the Notes that shall have become due and payable by reason of such notice under Section 13.1 ss.11.1 hereof or occurrence the happening of such Event of Default) shall have been duly paid; and (iii) each and every other Default hereunder and Event of Default hereunder shall have been waived pursuant to Section 13.4 hereof this ss.11.4 or cured; and provided, further, that no . No such rescission and or annulment pursuant to this ss.11.4 shall extend to or affect any subsequent Default or Event of Default or impair any right or power consequent thereon.

Annulment of Acceleration of Notes. If notice a declaration is delivered (a) made pursuant to clause Section 6.2(a)(i)(B), then and in every such case, the holders of sixty-six and two-thirds percent (ii66b%) in principal amount of Section 13.1 hereof the Notes at the time outstanding (exclusive of Notes then owned by any holder one or holders more of a Note the Company, any Restricted Subsidiary, any Affiliate or Notes, then such holder or each of such holders, as the case may be, Able International) may, by written instrument filed with the Company, rescind and annul its respective declaration such declaration, and the consequences thereof; or (b) pursuant to clause (iii) of Section 13.1 hereofPROVIDED, by any holder or holders of a Note or Notes, then the holders of more than 50% of the Notes then outstanding may, in respect of all the Notes, by written instrument filed with the Company, rescind and annul such declaration and the consequences thereof or of such Event of Default pursuant to this Agreement; provided, howeverHOWEVER, that at the time of an annulment such declaration is annulled and rescission pursuant to the foregoing clause (a) or (b) of this Section 13.4rescinded: (ia) no judgment or decree shall have been entered for the payment of any monies moneys due on or pursuant to hereto or the Notes or this AgreementNotes; (iib) all arrears of principal, premium and interest upon all of the Notes and all of the other sums payable hereunder and under the Notes and this Agreement (including reasonable costs and expenses of the holders incurred in connection with such notice under Section 15.1 hereof or annulment under this Section 13.4, but excluding except any principal of of, or interest on or Prepayment Compensation Amount on, the Notes that which shall have become due and payable by reason of such notice declaration under Section 13.1 hereof or occurrence of such Event of Default6.2(a)(i)(B)) shall have been duly paidpaid or waived (it being understood that any such waiver is given without prejudice to the right of any individual holder which has not joined in such waiver to accelerate the Notes held by such holder pursuant to Section 6.2(a)(ii)); and (iiic) each and every other Default and Event of Default hereunder shall have been waived pursuant to Section 13.4 hereof 9.5 or otherwise made good or cured; and provided, further, PROVIDED FURTHER that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right or power consequent thereon.

Annulment of Acceleration of Notes. If notice is delivered (a) pursuant to clause (iiy) of Section 13.1 11.1 hereof by any holder or holders of a Note or Notes, then such holder or each may, in respect of the Notes held by such holders, as the case may be, mayholder, by written instrument filed with the Company, rescind and annul its respective such declaration and the consequences thereof; thereof or of such Event of Default pursuant to this Agreement (b) and such Event of Default shall, for the purposes of this Agreement, be deemed not to have occurred and such declaration to have no further effect under this Agreement), and, if notice is delivered pursuant to clause (iiiz) of Section 13.1 hereof, 11.1 hereof by any holder or holders of a Note or Notes, then the holders of more than 5066-2/3% of the aggregate unpaid principal amount of Notes then outstanding may, in respect of all of the Notes, by written instrument filed with the Company, rescind and annul such declaration and the consequences thereof or of such Event of Default pursuant to this Agreement; providedPROVIDED, howeverHOWEVER, that at the time of an any such annulment and rescission pursuant to the foregoing clause rescission: (a) or (b) of this Section 13.4: (i) no final judgment or decree shall have been entered for payment of or any monies due pursuant to the Notes or this Agreement; (iib) all arrears of principal, premium and interest upon all the Notes and all other sums payable under the Notes and this Agreement (including including, promptly upon the receipt by the Company of a written request for the payment thereof, reasonable costs and expenses of the holders incurred in connection with such notice under Section 15.1 11.1 hereof or annulment under this Section 13.411.4, but excluding any principal of or interest on the Notes that shall have become due and payable by reason of such notice under Section 13.1 11.1 hereof or occurrence happening of such Event of Default) shall have been duly paid; and (iiic) each and every other Default hereunder and Event of Default hereunder shall have been duly waived pursuant to Section 13.4 hereof or cured; and providedand, furtherPROVIDED FURTHER, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right or power consequent thereon.

Annulment of Acceleration of Notes. If notice is delivered The provisions of SECTION ---------------------------------- 10.1 are subject to the condition that if the principal of, Modified Yield Maintenance Amount, if any, and accrued interest on all Outstanding Notes shall have been declared immediately due and payable (a) pursuant to other than by reason of an Event of Default of the character described in clause (iif) or (g) of Section 13.1 hereof by any holder or holders of a Note or NotesSECTION 10.1), then such holder or each of such holders, as the case may be, Requisite Holders may, by written instrument filed with the Company, rescind and annul its respective declaration and the consequences thereof; or (b) pursuant to clause (iii) of Section 13.1 hereof, by any holder or holders of a Note or Notes, then the holders of more than 50% of the Notes then outstanding may, in respect of all the Notes, by written instrument filed with the Company, rescind and annul such declaration and the consequences thereof or of such Event of Default pursuant to this Agreementthereof; provided, however, that at the time of an annulment such declaration is rescinded and rescission pursuant to the foregoing clause (a) or (b) of this Section 13.4annulled: (ia) no judgment or decree shall have been entered for the payment of any monies money due pursuant to the Notes or this Agreement; (iib) all arrears of principal, premium Yield Maintenance Amount, if any, and interest upon all of the Notes and all other sums payable under the Notes and under this Agreement (including reasonable costs and expenses of the holders Noteholders incurred in connection with such notice under Section 15.1 hereof or annulment SECTION 10.1 and the exercise of remedies under this Section 13.4SECTION 10.2, but excluding any principal of or interest on the Notes that shall have or Modified Yield Maintenance Amount which has become due and payable solely by reason of such notice under Section 13.1 hereof or occurrence of such Event of DefaultSECTION 10.1) shall have been duly paid; and (iiic) each and every other Default and Event of Default hereunder shall have been remedied or waived pursuant to Section 13.4 hereof SECTION 14 or otherwise made good or cured; and provided, further, that no such rescission and annulment shall extend to or -------- ------- affect any subsequent Default or of Event of Default or impair any right or power consequent thereon.