Common use of Control by Securityholders; Waiver of Past Defaults Clause in Contracts

Control by Securityholders; Waiver of Past Defaults. The Holders of a majority in principal amount of the Securities of any series at the time Outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee hereunder, or of exercising any trust or power hereby conferred upon the Trustee with respect to the Securities of such series; provided, however, that, subject to the provisions of Section 11.02, the Trustee shall have the right to decline to follow any such direction if the Trustee being advised by counsel determines that the action so directed may not lawfully be taken or would involve the Trustee in personal liability. The Holders of not less than a majority in aggregate principal amount of such series of Securities at the time Outstanding may on behalf of all Holders of the Securities of such series waive any existing or past Default or Event of Default and its consequences hereunder, except a continuing Default or Event of Default (i) in the payment of principal of, premium, if any, or interest on (or Additional Amount payable in respect of), the Securities of such series then Outstanding, in which event the consent of all Holders of the Securities of such series then Outstanding affected thereby is required, or (ii) in respect of a covenant or provision which under Section 14.02 cannot be modified or amended without the consent of the Holder of each Security of such series then Outstanding affected thereby. Upon any such waiver, the Company, the Trustee and the Holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively; provided that no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. Whenever any Default or Event of Default hereunder shall have been waived as permitted by this Section 7.06, said Default or Event of Default shall for all purposes of the Securities of such series and this Indenture be deemed to have been cured and to be not continuing.

Appears in 8 contracts

Samples: Indenture (MicroCloud Hologram Inc.), Indenture (Fanhua Inc.), Indenture (iQIYI, Inc.)

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Control by Securityholders; Waiver of Past Defaults. The Holders of a majority in principal amount of the Securities of any series at the time Outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee hereunder, or of exercising any trust or power hereby conferred upon the Trustee with respect to the Securities of such series; , provided, however, that, subject to the provisions of Section 11.02Sections 11.1 and 11.2, the Trustee shall have the right to decline to follow any such direction if the Trustee being advised by counsel determines that the action so directed may not lawfully be taken or would be unduly prejudicial to Holders not joining in such direction or would involve the Trustee in personal liability. The Prior to any declaration accelerating the Maturity of the Securities of any series, the Holders of not less than a majority in aggregate principal amount of such series of Securities at the time Outstanding may on behalf of the Holders of all Holders of the Securities of such series waive any existing or past Default or Event of Default hereunder and its consequences hereunder, except a continuing Default or Event of Default (ia) in the payment of interest or any premium on or the principal of, premium, if any, or interest on (or Additional Amount payable in respect of), the Securities of such series then Outstanding, in which event the consent of all Holders of the Securities of such series, (b) arising from the failure to redeem or purchase any Security of such series then Outstanding affected thereby is required, when required pursuant to the terms of this Indenture or (iic) in respect of a covenant or provision which that under Section 14.02 14.2 cannot be modified or amended without the consent of the each Holder of each Security Securities of such series then Outstanding affected therebyaffected. Upon any such waiver, waiver the Company, the Trustee and the Holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively; provided that but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. Whenever any Default or Event of Default hereunder shall have been waived as permitted by this Section 7.067.6, said Default or Event of Default shall for all purposes of the Securities of such series and this Indenture be deemed to have been cured and to be not continuing.

Appears in 8 contracts

Samples: Indenture (Molson Coors Beverage Co), Coors Brewing Co, Coors International Holdco 2, ULC

Control by Securityholders; Waiver of Past Defaults. The Holders of a majority in principal amount of the Securities of any series at the time Outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee hereunder, or of exercising any trust or power hereby conferred upon the Trustee with respect to the Securities of such series; provided, however, that, subject to the provisions of Section 11.02, the Trustee shall have the right to decline to follow any such direction if the Trustee being advised by counsel determines that the action so directed may not lawfully be taken or would involve the Trustee in personal liability. The Prior to any declaration accelerating the Maturity of the Securities of any series, the Holders of not less than a majority in aggregate principal amount of such series of Securities at the time Outstanding may on behalf of the Holders of all Holders of the Securities of such series waive any existing or past Default or Event of Default hereunder and its consequences hereunder, except a continuing Default or Event of Default (i) in the payment of interest or any premium on or the principal of, premium, if any, or interest on (or Additional Amount payable in respect of), the Securities of such series then Outstanding, in which event the consent of all Holders of the Securities of such series then Outstanding affected thereby is required, or (ii) a Default in respect of a covenant or provision which that under Section 14.02 cannot be modified or amended without the consent of the Holder of each Security Outstanding Securities of such series then Outstanding affected therebyaffected. Upon any such waiver, the Company, the Trustee and the Holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively; provided that no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. Whenever any Default or Event of Default hereunder shall have been waived as permitted by this Section 7.06, said Default or Event of Default shall for all purposes of the Securities of such series and this Indenture be deemed to have been cured and to be not continuing.

Appears in 6 contracts

Samples: Indenture (Concentrix Corp), Indenture (Synnex Corp), Concentrix Corp

Control by Securityholders; Waiver of Past Defaults. The Holders of a majority in principal amount of the Securities of any series at the time Outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee hereunder, or of exercising any trust or power hereby conferred upon the Trustee with respect to the Securities of such series; , provided, however, that, subject to the provisions of Section Sections 11.01 and 11.02, the Trustee shall have the right to decline to follow any such direction if the Trustee being advised by counsel determines that the action so directed may not lawfully be taken or would be unduly prejudicial to Holders not joining in such direction or would involve the Trustee in personal liability. The Prior to any declaration accelerating the Maturity of the Securities of any series, the Holders of not less than a majority in aggregate principal amount of such series of Securities at the time Outstanding may on behalf of the Holders of all Holders of the Securities of such series waive any existing or past Default or Event of Default hereunder and its consequences hereunder, except a continuing Default or Event of Default (i) in the payment of interest or any premium on or the principal of, premium, if any, or interest on (or Additional Amount payable in respect of), the Securities of such series then Outstanding, in which event the consent of all Holders of the Securities of such series then Outstanding affected thereby is required, or (ii) in respect of a covenant or provision which under Section 14.02 cannot be modified or amended without the consent of the Holder of each Security of such series then Outstanding affected therebyseries. Upon any such waiver, waiver the Company, the Trustee and the Holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively; provided that but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. Whenever any Default or Event of Default hereunder shall have been waived as permitted by this Section 7.06, said Default or Event of Default shall for all purposes of the Securities of such series and this Indenture be deemed to have been cured and to be not continuing.

Appears in 5 contracts

Samples: Indenture (Aircastle LTD), Indenture (Pdi Inc), Indenture (Kenexa Corp)

Control by Securityholders; Waiver of Past Defaults. The Holders of a majority in principal amount of the Securities of any series at the time Outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee hereunder, or of exercising any trust or power hereby conferred upon the Trustee with respect to the Securities of such series; , provided, however, that, subject to the provisions of Section Sections 11.01 and 11.02, the Trustee shall have the right to decline to follow any such direction if the Trustee being advised by counsel determines that the action so directed may not lawfully be taken or would be unduly prejudicial to Holders not joining in such direction or would involve the Trustee in personal liability. The Prior to any acceleration of the Maturity of the Securities of any series, the Holders of not less than a majority in aggregate principal amount of such series of Securities at the time Outstanding may on behalf of the Holders of all Holders of the Securities of such series waive any existing or past Default or Event of Default hereunder and its consequences hereunder, except a continuing Default or Event of Default (i) in the payment of interest or any premium on or the principal of, premium, if any, or interest on (or Additional Amount payable in respect of), the Securities of such series then Outstanding, in which event the consent of all Holders of the Securities of such series then Outstanding affected thereby is required, or (ii) in respect of and except as to a covenant or provision condition which under Section 14.02 cannot be modified or amended without the consent of the Holder of each Outstanding Security of such series then affected, in which case the consent of the Holder of each Outstanding Security of such series affected therebyshall be required for such waiver. Upon any such waiver, waiver the Company, the Trustee and the Holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively; provided that but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. Whenever any Default or Event of Default hereunder shall have been waived as permitted by this Section 7.06, said Default or Event of Default shall for all purposes of the Securities of such series and this Indenture be deemed to have been cured and to be not continuing.

Appears in 5 contracts

Samples: Indenture (Myriad Genetics Inc), FREYR Battery, Inc. /DE/, Indenture (DowDuPont Inc.)

Control by Securityholders; Waiver of Past Defaults. The Holders of a majority in principal amount of the Securities of any series at the time Outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee hereunder, or of exercising any trust or power hereby conferred upon the Trustee with respect to the Securities of such series; provided, however, that, subject to the provisions of Section 11.02, the Trustee shall have the right to decline to follow any such direction if the Trustee being advised by counsel determines that the action so directed may not lawfully be taken or would involve the Trustee in personal liability. The Prior to any declaration accelerating the Maturity of the Securities of any series, the Holders of not less than a majority in aggregate principal amount of such series of Securities at the time Outstanding may on behalf of the Holders of all Holders of the Securities of such series waive any existing or past Default or Event of Default hereunder and its consequences hereunder, except a continuing Default or Event of Default (i) in the payment of interest or any premium on or the principal of, premium, if any, or interest on (or Additional Amount payable in respect of), the Securities of such series then Outstanding, in which event the consent of all Holders of the Securities of such series then Outstanding affected thereby is required, or (ii) a Default in respect of a covenant or provision which that under Section 14.02 cannot be modified or amended without the consent of the Holder of each Outstanding Security of such series then Outstanding affected therebyaffected. Upon any such waiver, the Company, the Trustee and the Holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively; provided that no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. Whenever any Default or Event of Default hereunder shall have been waived as permitted by this Section 7.06, said Default or Event of Default shall for all purposes of the Securities of such series and this Indenture be deemed to have been cured and to be not continuing.

Appears in 5 contracts

Samples: Indenture (Alphabet Inc.), Indenture (Alphabet Inc.), Indenture (Higher One Holdings, Inc.)

Control by Securityholders; Waiver of Past Defaults. The Holders of a majority in principal amount of the Securities of any series at the time Outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee hereunder, or of exercising any trust or power hereby conferred upon the Trustee with respect to the Securities of such series; , provided, however, that, subject to the provisions of Section Sections 10.01 and 11.02, the Trustee shall have the right to decline to follow any such direction if the Trustee being advised by counsel determines that the action so directed is in conflict with this Indenture or may not lawfully be taken or would be unduly prejudicial to Holders not joining in such direction or would involve the Trustee in personal liability, provided further that the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction. The Holders of not less than a majority in aggregate principal amount of such the Securities of any series of Securities at the time Outstanding may on behalf of the Holders of all Holders of the Securities of such series waive any existing or past Default or Event of Default hereunder and its consequences hereunder, except a continuing Default or Event of Default (i) in the payment of interest or any premium on or the principal of, premium, if any, or interest on (or Additional Amount payable in respect of), the Securities of such series then Outstanding, in which event the consent of all Holders of the Securities of such series then Outstanding affected thereby is required, or (ii) in respect of a covenant or provision which under Section 14.02 cannot be modified or amended without the consent of the Holder of each Security of such series then Outstanding affected therebyseries. Upon any such waiver, waiver the Company, the Trustee and the Holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively; provided that but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. Whenever any Default or Event of Default hereunder shall have been waived as permitted by this Section 7.06, said Default or Event of Default shall for all purposes of the Securities of such series and this Indenture be deemed to have been cured and to be not continuing.

Appears in 4 contracts

Samples: Shake Shack Inc., Shake Shack Inc., Shake Shack Inc.

Control by Securityholders; Waiver of Past Defaults. The Holders of a majority in principal amount of the Securities of any series at the time Outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee hereunder, or of exercising any trust or power hereby conferred upon the Trustee with respect to the Securities of such series; , provided, however, that, subject to the provisions of Section 11.02, the Trustee shall have the right to decline to follow any such direction if the Trustee being advised by counsel determines that the action so directed may not lawfully be taken or would be unduly prejudicial to Holders not joining in such direction or would involve the Trustee in personal liability. The Holders of not less than a majority in aggregate principal amount of such series of Securities at the time Outstanding may on behalf of the Holders of all Holders of the Securities of such series waive any existing or past Default or with respect to such series of Securities, and any Event of Default with respect to such series of Securities and its consequences hereunderconsequences, except a continuing Default or Event of Default (i) in the payment of the principal of, premium, if any, of or interest on (or Additional Amount payable in respect of)such series of Securities; provided that, subject to Section 8.02, the Securities Holders of a majority in aggregate principal amount of such series then Outstandingof Securities at the time Outstanding may rescind an acceleration and its consequences, in which event the consent of all Holders of the Securities of including any related payment default that resulted from such series then Outstanding affected thereby is required, or (ii) in respect of a covenant or provision which under Section 14.02 cannot be modified or amended without the consent of the Holder of each Security of such series then Outstanding affected therebyacceleration. Upon any such waiver, waiver the Company, the Trustee and the Holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively; provided that but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. Whenever any Default or Event of Default hereunder shall have been waived as permitted by this Section 7.068.06, said Default or Event of Default shall for all purposes of the Securities of such series and this Indenture be deemed to have been cured and to be not continuing.

Appears in 3 contracts

Samples: s23.q4cdn.com, s23.q4cdn.com, s23.q4cdn.com

Control by Securityholders; Waiver of Past Defaults. The Holders of a majority in principal amount of the Securities of any series at the time Outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee hereunderpursuant to this Indenture, or of exercising any trust or power hereby conferred upon the Trustee pursuant to this Indenture with respect to the Securities of such series; , provided, however, that, subject to the provisions of Section Sections 11.01 and 11.02, the Trustee shall have the right to decline refuse to follow any such direction if that conflicts with law or this Indenture or that the Trustee determines is unduly prejudicial to the rights of any other Holder (it being advised by counsel determines understood that the action so directed may Trustee does not lawfully be taken have an affirmative duty to ascertain whether or not such actions or forbearances are unduly prejudicial to such Holders) or that would involve the Trustee in personal liability. The Prior to taking any action under this Indenture, the Trustee shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such action. Prior to any acceleration of the Maturity of the Securities of any series, the Holders of not less than a majority in aggregate principal amount of such series of Securities at the time Outstanding may on behalf of the Holders of all Holders of the Securities of such series waive any existing or past Default or Event of Default hereunder and its consequences hereunder, except a continuing Default or Event of Default (i) in the payment of interest or any premium on or the principal of, premium, if any, or interest on (or Additional Amount payable in respect of), the Securities of such series then Outstanding, in which event the consent of all Holders of the Securities of such series then Outstanding affected thereby is required, or (ii) in respect of and except as to a covenant or provision condition which under Section 14.02 cannot be modified or amended without the consent of the Holder of each Outstanding Security of such series then affected, in which case the consent of the Holder of each Outstanding Security of such series affected therebyshall be required for such waiver. Upon any such waiver, waiver the Company, the Trustee and the Holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively; provided that but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. Whenever any Default or Event of Default hereunder shall have been waived as permitted by this Section 7.06, said Default or Event of Default shall for all purposes of the Securities of such series and this Indenture be deemed to have been cured and to be not continuing.

Appears in 2 contracts

Samples: Triton Container (TAL INTERNATIONAL CONTAINER Corp), Indenture (TAL INTERNATIONAL CONTAINER Corp)

Control by Securityholders; Waiver of Past Defaults. The Holders of a majority in principal amount of the Securities of any series at the time Outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee hereunder, or of exercising any trust or power hereby conferred upon the Trustee with respect to the Securities of such series; , provided, however, that, subject to the provisions of Section Sections 11.01 and 11.02, the Trustee shall have the right to decline to follow any such direction if the Trustee being advised by counsel determines that the action so directed may not lawfully be taken or would be unduly prejudicial to Holders not joining in such direction or would involve the Trustee in personal liability. The Prior to any acceleration of the Maturity of the Securities of any series, the Holders of not less than a majority in aggregate principal amount of such series of Securities at the time Outstanding may on behalf of the Holders of all Holders of the Securities of such series waive any existing or past Default or Event of Default hereunder and its consequences hereunder, except a continuing Default or Event of Default (i) in the payment of interest or any premium on or principal of, premium, if any, or interest on (or Additional Amount payable in respect of), the Securities of such series then Outstanding, in which event the consent of all Holders of the Securities of such series then Outstanding affected thereby is requiredor in the case of any Securities which are convertible into or exchangeable for other securities or property, a Default in any such conversion or exchange, or (ii) a Default in respect of a covenant or provision hereof which under Section 14.02 cannot be modified or amended without the consent of the Holder of each Outstanding Security of such series then Outstanding affected therebyaffected. Upon any such waiver, waiver the CompanyObligors, the Trustee and the Holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively; provided that but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. Whenever any Default or Event of Default hereunder shall have been waived as permitted by this Section 7.06, said Default or Event of Default shall for all purposes of the Securities of such series and this Indenture be deemed to have been cured and to be not continuing.

Appears in 2 contracts

Samples: Indenture (Healthpeak OP, LLC), Fourteenth Supplemental Indenture (Healthpeak Properties, Inc.)

Control by Securityholders; Waiver of Past Defaults. The Holders of a majority in principal amount of the Securities of any series at the time Outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee hereunderpursuant to this Indenture, or of exercising any trust or power hereby conferred upon the Trustee pursuant to this Indenture with respect to the Securities of such series; , provided, however, that, subject to the provisions of Section Sections 11.01 and 11.02, the Trustee shall have the right to decline to follow any such direction if the Trustee being advised by counsel determines that the action so directed may not lawfully be taken or would be unduly prejudicial to Holders not joining in such direction or would involve the Trustee in personal liability. The Prior to any acceleration of the Maturity of the Securities of any series, the Holders of not less than a majority in aggregate principal amount of such series of Securities at the time Outstanding may on behalf of the Holders of all Holders of the Securities of such series waive any existing or past Default or Event of Default hereunder and its consequences hereunder, except a continuing Default or Event of Default (i) in the payment of interest or any premium on or the principal of, premium, if any, or interest on (or Additional Amount payable in respect of), the Securities of such series then Outstanding, in which event the consent of all Holders of the Securities of such series then Outstanding affected thereby is required, or (ii) in respect of and except as to a covenant or provision condition which under Section 14.02 cannot be modified or amended without the consent of the Holder of each Outstanding Security of such series then affected, in which case the consent of the Holder of each Outstanding Security of such series affected therebyshall be required for such waiver. Upon any such waiver, waiver the Company, the Trustee and the Holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively; provided that but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. Whenever any Default or Event of Default hereunder shall have been waived as permitted by this Section 7.06, said Default or Event of Default shall for all purposes of the Securities of such series and this Indenture be deemed to have been cured and to be not continuing.

Appears in 2 contracts

Samples: Green Bancorp, Inc., Green Bancorp, Inc.

Control by Securityholders; Waiver of Past Defaults. The Holders of a majority in principal amount of the Securities of any series at the time Outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee hereunder, or of exercising any trust or power hereby conferred upon the Trustee with respect to the Securities of such series; , provided, however, that, subject to the provisions of Section Sections 11.01 and 11.02, the Trustee shall have the right to decline to follow any such direction if the Trustee being advised by counsel determines that the action so directed may not lawfully be taken or would be unduly prejudicial to Holders not joining in such direction or would involve the Trustee in personal liability. The Holders of not less than a majority in aggregate principal amount of such the Securities of any series of Securities at the time Outstanding may on behalf of the Holders of all Holders of the Securities of such series waive any existing or past Default or Event of Default and its consequences hereunder, except a continuing Default or Event of Default (i) in the payment of principal of, premium, if any, or interest on (or Additional Amount payable in hereunder with respect of), to the Securities of such series then Outstanding, and its consequences except a Default in which event the consent payment of all Holders interest or any premium on or the principal of the Securities of such series then Outstanding affected thereby is required, or (ii) in respect of a covenant or provision which under Section 14.02 cannot be modified or amended without the consent of the Holder of each Security of such series then Outstanding affected therebyseries. Upon any such waiver, the CompanyIssuers, the Trustee and the Holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively; provided that but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. Whenever any Default or Event of Default hereunder shall have been waived as permitted by this Section 7.06, said Default or Event of Default shall for all purposes of the Securities of such series and this Indenture be deemed to have been cured and to be not continuing.

Appears in 2 contracts

Samples: Indenture (J C Penney Co Inc), J C Penney Co Inc

Control by Securityholders; Waiver of Past Defaults. The Holders of a majority in principal amount of the Securities of any series at the time Outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee hereunder, or of exercising any trust or power hereby conferred upon the Trustee with respect to the Securities of such series; provided, however, that, subject to the provisions of Section 11.02, the Trustee shall have the right to decline to follow any such direction if the Trustee being advised by counsel determines that the action so directed may not lawfully be taken or would be unduly prejudicial to Holders not joining in such direction or would involve the Trustee in personal liability. The Prior to any declaration accelerating the Maturity of the Securities of any series, the Holders of not less than a majority in aggregate principal amount of such series of Securities at the time Outstanding may on behalf of the Holders of all Holders of the Securities of such series waive any existing or past Default or Event of Default hereunder and its consequences hereunder, except a continuing Default or Event of Default (i) in the payment of interest or any premium on or the principal of, premium, if any, or interest on (or Additional Amount payable in respect of), the Securities of such series then Outstanding, in which event the consent of all Holders of the Securities of such series then Outstanding affected thereby is required, or (ii) in respect of a covenant or provision which under Section 14.02 cannot be modified or amended without the consent of the Holder of each Security of such series then Outstanding affected therebyseries. Upon any such waiver, the Company, the Trustee and the Holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively; provided that no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. Whenever any Default or Event of Default hereunder shall have been waived as permitted by this Section 7.06, said Default or Event of Default shall for all purposes of the Securities of such series and this Indenture be deemed to have been cured and to be not continuing.

Appears in 2 contracts

Samples: Indenture (Alkermes Plc.), Indenture (Dollar Thrifty Automotive Group Inc)

Control by Securityholders; Waiver of Past Defaults. The Holders of a majority in principal amount of the Securities of any series at the time Outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee hereunderpursuant to this Indenture, or of exercising any trust or power hereby conferred upon the Trustee pursuant to this Indenture with respect to the Securities of such series; , provided, however, that, subject to the provisions of Section Sections 11.01 and 11.02, the Trustee shall have the right to decline refuse to follow any such direction if that conflicts with law or this Indenture or that the Trustee determines is unduly prejudicial to the rights of any other Holder (it being advised by counsel determines understood that the action so directed may Trustee does not lawfully be taken have an affirmative duty to ascertain whether or not such actions or forbearances are unduly prejudicial to such Holders) or that would involve the Trustee in personal liability. The Prior to taking any action under this Indenture, the Trustee shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such action. Prior to any acceleration of the Maturity of the Securities of any series, the Holders of not less than a majority in aggregate principal amount of such series of Securities at the time Outstanding may on behalf of the Holders of all Holders of the Securities of such series waive any existing or past Default or Event of Default hereunder and its consequences hereunder, except a continuing Default or Event of Default (i) in the payment of interest or any premium on or the principal of, premium, if any, or interest on (or Additional Amount payable in respect of), the Securities of such series then Outstanding, in which event the consent of all Holders of the Securities of such series then Outstanding affected thereby is required, or (ii) in respect of and except as to a covenant or provision condition which under Section 14.02 cannot be modified or amended without the consent of the Holder of each Outstanding Security of such series then affected, in which case the consent of the Holder of each Outstanding Security of such series affected therebyshall be required for such waiver. Upon any such waiver, waiver the CompanyCompanies, the Trustee and the Holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively; provided that but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. Whenever any Default or Event of Default hereunder shall have been waived as permitted by this Section 7.06, said Default or Event of Default shall for all purposes of the Securities of such series and this Indenture be deemed to have been cured and to be not continuing.

Appears in 2 contracts

Samples: Triton Container (TAL INTERNATIONAL CONTAINER Corp), Triton International LTD

Control by Securityholders; Waiver of Past Defaults. The Holders of a majority in principal amount of the Securities of any series at the time Outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee hereunder, or of exercising any trust or power hereby conferred upon the Trustee with respect to the Securities of such series; , provided, however, that, subject to the provisions of Section Sections 11.01 and 11.02, the Trustee shall have the right to decline to follow any such direction if the Trustee being advised by counsel determines that the action so directed may not lawfully be taken or would be unduly prejudicial to Holders not joining in such direction or would involve the Trustee in personal liability. The Prior to any declaration accelerating the Maturity of the Securities of any series, the Holders of not less than a majority in aggregate principal amount of such series of Securities at the time Outstanding may on behalf of the Holders of all Holders of the Securities of such series waive any existing or past Default or Event of Default hereunder and its consequences hereunder, except a continuing Default or Event of Default (i) in the payment of interest or any premium on or the principal of, premium, if any, or interest on (or Additional Amount payable in respect of), the Securities of such series then Outstanding, in which event the consent of all Holders of the Securities of such series then Outstanding affected thereby is required, or (ii) in respect of a covenant or provision which under Section 14.02 cannot be modified or amended without the consent of the Holder of each Security of such series then Outstanding affected therebyseries. Upon any such waiver, waiver the CompanyIssuer, the Trustee and the Holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively; provided that but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. Whenever any Default or Event of Default hereunder shall have been waived as permitted by this Section 7.06, said Default or Event of Default shall for all purposes of the Securities of such series and this Indenture be deemed to have been cured and to be not continuing.

Appears in 2 contracts

Samples: Indenture (SL Green Operating Partnership, L.P.), SL Green Operating Partnership, L.P.

Control by Securityholders; Waiver of Past Defaults. The Holders of not less than a majority in principal amount of the Securities of any series at the time Outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee hereunderpursuant to this Indenture, or of exercising any trust or power hereby conferred upon the Trustee pursuant to this Indenture with respect to the Securities of such series; provided, however, that, subject to the provisions of Section 11.02, that the Trustee shall have the right to decline to follow any such direction if the Trustee being advised by counsel determines that the action so directed may not lawfully be taken taken, conflicts with this Indenture, or would be unduly prejudicial to Holders not joining in such direction (it being understood that the Trustee does not have an affirmative duty to ascertain whether or not any such directions are unduly prejudicial to such Holders) or would involve the Trustee in personal liability. The Prior to any acceleration of the Maturity of the Securities of any series, the Holders of not less than a majority in aggregate principal amount of such series of Securities at the time Outstanding (voting as a single class) may on behalf of the Holders of all Holders of the Securities of such series waive any existing or past Default or Event of Default hereunder and its consequences hereunder, except a continuing Default or Event of Default (i) in the payment of interest or any premium on or the principal of, premium, if any, or interest on (or Additional Amount payable in respect of), the Securities of such series then Outstanding, in which event the consent of all Holders of the Securities of such series then Outstanding affected thereby is required, or (ii) in the payment of any sinking fund installment or analogous obligation with respect to Securities of such series and except as to a covenant or provision condition which under Section 14.02 cannot be modified or amended without the consent of the Holder of each Outstanding Security of such series then affected, in which case the consent of the Holder of each Outstanding Security of such series affected therebyshall be required for such waiver. Upon any such waiverwaiver the Issuer, the CompanyParent Guarantor, the Trustee and the Holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively; provided that but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. Whenever any Default or Event of Default hereunder shall have been waived as permitted by this Section 7.06, said Default or Event of Default shall for all purposes of the Securities of such series and this Indenture be deemed to have been cured and to be not continuing.

Appears in 2 contracts

Samples: Indenture (Pfizer Inc), Pfizer Investment Enterprises PTE LTD

Control by Securityholders; Waiver of Past Defaults. The Holders of a majority in principal amount of the Securities of any series at the time Outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee hereunder, or of exercising any trust or power hereby conferred upon the Trustee with respect to the Securities of such series; provided, however, that, subject to the provisions of Section Sections 11.01 and 11.02, the Trustee shall have the right to decline to follow any such direction if the Trustee being advised by counsel determines that the action so directed may not lawfully be taken or would be unduly prejudicial to Holders not joining in such direction or would involve the Trustee in personal liability. The Prior to any acceleration of the Maturity of the Securities of any series, the Holders of not less than a majority in aggregate principal amount of such series of Securities at the time Outstanding may on behalf of the Holders of all Holders of the Securities of such series waive any existing or past Default or Event of Default hereunder and its consequences hereunder, except a continuing Default or Event of Default (i) in the payment of interest or any premium on or the principal of, premium, if any, or interest on (or Additional Amount payable in respect of), the Securities of such series then Outstanding, in which event the consent of all Holders of the Securities of such series then Outstanding affected thereby is required, or (ii) in respect of a covenant or provision which under Section 14.02 cannot be modified or amended without the consent of the Holder of each Security of such series then Outstanding affected therebyseries. Upon any such waiver, waiver the CompanyCompanies, the Trustee and the Holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively; provided that but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. Whenever any Default or Event of Default hereunder shall have been waived as permitted by this Section 7.06, said Default or Event of Default shall for all purposes of the Securities of such series and this Indenture be deemed to have been cured and to be not continuing.

Appears in 1 contract

Samples: NXP Funding LLC

Control by Securityholders; Waiver of Past Defaults. The Holders of a majority in principal amount of the Securities of any series at the time Outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee hereunder, or of exercising any trust or power hereby conferred upon the Trustee with respect to the Securities of such series; , provided, however, that, subject to the provisions of Section Sections 11.01 and 11.02, the Trustee shall have the right to decline to follow any such direction if the Trustee being advised by counsel determines in good faith that the action so directed may not lawfully be taken or would be unduly prejudicial to Holders not joining in such direction or would involve the Trustee in personal liability. The Prior to any acceleration of the Maturity of the Securities of any series, the Holders of not less than a majority in aggregate principal amount of such series of Securities at the time Outstanding may on behalf of the Holders of all Holders of the Securities of such series waive any existing or past Default or Event of Default hereunder and its consequences hereunder, except a continuing Default or Event of Default (i) in the payment of interest or any premium on or the principal of, premium, if any, or interest on (or Additional Amount payable in respect of), the Securities of such series then Outstanding, in which event the consent of all Holders of the Securities of such series then Outstanding affected thereby is required, or (ii) in respect of a covenant or provision which under Section 14.02 cannot be modified or amended without the consent of the Holder of each Security of such series then Outstanding affected therebyseries. Upon any such waiver, waiver the Company, the Trustee and the Holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively; provided that but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. Whenever any Default or Event of Default hereunder shall have been waived as permitted by this Section 7.06, said Default or Event of Default shall for all purposes of the Securities of such series and this Indenture be deemed to have been cured and to be not continuing.

Appears in 1 contract

Samples: Indenture (LHC Group, Inc)

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Control by Securityholders; Waiver of Past Defaults. The Holders of a majority in principal amount of the Securities of any series at the time Outstanding outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee hereunder, or of exercising any trust or power hereby conferred upon the Trustee with respect to the Securities of such series; , provided, however, that, subject to the provisions of Section Sections 11.01 and 11.02, the Trustee shall have the right to decline to follow any such direction if the Trustee being advised by counsel determines in good faith that the action so directed may not lawfully be taken or would be unduly prejudicial to Holders not joining in such direction or would involve the Trustee in personal liability. The Prior to any declaration accelerating the Maturity of the Securities of any series, the Holders of not less than a majority in aggregate principal amount of such series of Securities at the time Outstanding may on behalf of the Holders of all Holders of the Securities of such series waive any existing or past Default or Event of Default hereunder and its consequences hereunder, except a continuing Default or Event of Default (i) in the payment of interest or any premium on or the principal of, premium, if any, or interest on (or Additional Amount payable in respect of), the Securities of such series then Outstanding, in which event the consent of all Holders of the Securities of such series then Outstanding affected thereby is required, or (ii) in respect of a covenant or provision which under Section 14.02 cannot be modified or amended without the consent of the Holder of each Security of such series then Outstanding affected therebyseries. Upon any such waiver, waiver the Company, the Trustee and the Holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively; provided that but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. Whenever any Default or Event of Default hereunder shall have been waived as permitted by this Section 7.06, said Default or Event of Default shall for all purposes of the Securities of such series and this Indenture be deemed to have been cured and to be not continuing.

Appears in 1 contract

Samples: Indenture (Merit Medical Systems Inc)

Control by Securityholders; Waiver of Past Defaults. The Holders of a majority in principal amount of the Securities of any series at the time Outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee hereunder, or of exercising any trust or power hereby conferred upon the Trustee with respect to the Securities of such series; , provided, however, that, subject to the provisions of Section Sections 11.01 and 11.02, the Trustee shall have the right to decline to follow any such direction if the Trustee being advised by counsel determines that the action so directed may not lawfully be taken or would be unduly prejudicial to Holders not joining in such direction or would involve the Trustee in personal liability. The Holders of not less than a majority in aggregate principal amount of such the Securities of any series of Securities at the time Outstanding may on behalf of the Holders of all Holders of the Securities of such series waive any existing or past Default or Event of Default and its consequences hereunder, except a continuing Default or Event of Default (i) in the payment of principal of, premium, if any, or interest on (or Additional Amount payable in hereunder with respect of), to the Securities of such series then Outstanding, and its consequences except a Default in which event the consent payment of all Holders interest or any premium on or the principal of the Securities of such series then Outstanding affected thereby is required, or (ii) in respect of a covenant or provision which under Section 14.02 cannot be modified or amended without the consent of the Holder of each Security of such series then Outstanding affected therebyseries. Upon any such waiver, the Company, the Trustee and the Holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively; provided that but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. Whenever any Default or Event of Default hereunder shall have been waived as permitted by this Section 7.06, said Default or Event of Default shall for all purposes of the Securities of such series and this Indenture be deemed to have been cured and to be not continuing.. Section 7.07

Appears in 1 contract

Samples: KEMPER Corp

Control by Securityholders; Waiver of Past Defaults. The Holders of a majority in principal amount of the Securities of any series at the time Outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee hereunder, or of exercising any trust or power hereby conferred upon the Trustee with respect to the Securities of such series; , provided, however, that, subject to the provisions of Section Sections 11.01 and 11.02, the Trustee shall have the right to decline to follow any such direction if the Trustee being advised by counsel determines that the action so directed may not lawfully be taken or would be unduly prejudicial to Holders not joining in such direction or would involve the Trustee in personal liability. The Holders of not less than a majority in aggregate principal amount of such the Securities of any series of Securities at the time Outstanding may on behalf of the Holders of all Holders of the Securities of such series waive any existing or past Default or Event of Default and its consequences hereunder, except a continuing Default or Event of Default (i) in the payment of principal of, premium, if any, or interest on (or Additional Amount payable in hereunder with respect of), to the Securities of such series then Outstanding, and its consequences except a Default in which event the consent payment of all Holders interest or any premium on or the principal of the Securities of such series then Outstanding affected thereby is required, or (ii) in respect of a covenant or provision which under Section 14.02 cannot be modified or amended without the consent of the Holder of each Security of such series then Outstanding affected therebyseries. Upon any such waiver, the CompanyIssuer, the Guarantors, the Trustee and the Holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively; provided that but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. Whenever any Default or Event of Default hereunder shall have been waived as permitted by this Section 7.06, said Default or Event of Default shall for all purposes of the Securities of such series and this Indenture be deemed to have been cured and to be not continuing.

Appears in 1 contract

Samples: J C Penney Co Inc

Control by Securityholders; Waiver of Past Defaults. The Holders of a majority in principal amount of the Securities of any series at the time Outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee hereunder, or of exercising any trust or power hereby conferred upon the Trustee with respect to the Securities of such series; , provided, however, that, subject to the provisions of Section Sections 11.01 and 11.02, the Trustee shall have the right to decline to follow any such direction if the Trustee being advised by counsel determines that the action so directed may not lawfully be taken or would be unduly prejudicial to Holders not joining in such direction or would involve the Trustee in personal liability. The Prior to any acceleration of the Maturity of the Securities of any series, the Holders of not less than a majority in aggregate principal amount of such series of Securities at the time Outstanding may on behalf of the Holders of all Holders of the Securities of such series waive any existing or past Default or Event of Default hereunder and its consequences hereunder, except a continuing Default or Event of Default (i) in the payment of interest or any premium on or the principal of, premium, if any, or interest on (or Additional Amount payable in respect of), the Securities of such series then Outstanding, in which event the consent of all Holders of the Securities of such series then Outstanding affected thereby is required, or (ii) in respect of and except as to a covenant or provision condition which under Section 14.02 cannot be modified or amended without the consent of the Holder of each Outstanding Security of such series then affected, in which case the consent of the Holder of each Outstanding Security of such series affected therebyshall be required for such waiver. Upon any such waiver, waiver the Company, the Trustee and the Holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively; provided that but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. Whenever any Default or Event of Default hereunder shall have been waived as permitted by this Section 7.06, said Default or Event of Default shall for all purposes of the Securities of such series and this Indenture be deemed to have been cured and to be not continuing.. Section 7.07

Appears in 1 contract

Samples: SmileDirectClub, Inc.

Control by Securityholders; Waiver of Past Defaults. The Holders of a majority in principal amount of the Securities of any series at the time Outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee hereunder, or of exercising any trust or power hereby conferred upon the Trustee with respect to the Securities of such series; , provided, however, that, subject to the provisions of Section Sections 11.01 and 11.02, the Trustee shall have the right to decline to follow any such direction if the Trustee being advised by counsel determines that the action so directed may not lawfully be taken or would be unduly prejudicial to Holders not joining in such direction (it being understood that the Trustee does not have an affirmative duty to ascertain whether or not such actions or forbearances are unduly prejudicial to such Holders) or would involve the Trustee in personal liability. The Prior to any acceleration of the Maturity of the Securities of any series, the Holders of not less than a majority in aggregate principal amount of such series of Securities at the time Outstanding may on behalf of the Holders of all Holders of the Securities of such series waive any existing or past Default or Event of Default hereunder and its consequences hereunder, except a continuing Default or Event of Default (i) in the payment of interest or any premium on or the principal of, premium, if any, or interest on (or Additional Amount payable in respect of), the Securities of such series then Outstanding, in which event the consent of all Holders of the Securities of such series then Outstanding affected thereby is required, or (ii) in respect of and except as to a covenant or provision 41 condition which under Section 14.02 cannot be modified or amended without the consent of the Holder of each Outstanding Security of such series then affected, in which case the consent of the Holder of each Outstanding Security of such series affected therebyshall be required for such waiver. Upon any such waiver, waiver the Company, the Trustee and the Holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively; provided that but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. Whenever any Default or Event of Default hereunder shall have been waived as permitted by this Section 7.06, said Default or Event of Default shall for all purposes of the Securities of such series and this Indenture be deemed to have been cured and to be not continuing.

Appears in 1 contract

Samples: Western Asset Mortgage Capital Corp

Control by Securityholders; Waiver of Past Defaults. The Holders of a majority in principal amount of the Securities of any series at the time Outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee hereunder, or of exercising any trust or power hereby conferred upon the Trustee with respect to the Securities of such series; provided, however, that, subject to the provisions of Section Sections 11.01 and 11.02, the Trustee shall have the right to decline to follow any such direction if the Trustee being advised by counsel determines that the action so directed may not lawfully be taken or would be unduly prejudicial to Holders not joining in such direction or would involve the Trustee in personal liability. The Prior to any acceleration of the Maturity of the Securities of any series, the Holders of not less than a majority in aggregate principal amount of such series of Securities at the time Outstanding may on behalf of the Holders of all Holders of the Securities of such series waive any past or existing or past Default or Event of Default and its consequences hereunder, hereunder (except a continuing Default or Event of Default (i) in the payment of interest or any premium on or the principal of, premiumor Additional Amounts, if any, or interest on (or Additional Amount payable in respect of), the Securities of such series then Outstanding, in which event the consent of all Holders of the Securities of series) and rescind any such series then Outstanding affected thereby is required, acceleration with respect to such Notes and its consequences if rescission would not conflict with any judgment or (ii) in respect decree of a covenant or provision which under Section 14.02 cannot be modified or amended without the consent court of the Holder of each Security of such series then Outstanding affected therebycompetent jurisdiction. Upon any such waiver, waiver the CompanyCompanies, the Trustee and the Holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively; provided that but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. Whenever any Default or Event of Default hereunder shall have been waived as permitted by this Section 7.06, said Default or Event of Default shall for all purposes of the Securities of such series and this Indenture be deemed to have been cured and to be not continuing.

Appears in 1 contract

Samples: NXP Semiconductors N.V.

Control by Securityholders; Waiver of Past Defaults. The Holders of a majority in principal amount of the Securities of any series at the time Outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee hereunder, or of exercising any trust or power hereby conferred upon the Trustee with respect to the Securities of such series; , provided, however, that, subject to the provisions of Section Sections 11.01 and 11.02, the Trustee shall have the right to decline to follow any such direction if the Trustee being advised by counsel determines that the action so directed may not lawfully be taken or would be unduly prejudicial to Holders not joining in such direction or would involve the Trustee in personal liability. The Prior to any acceleration of the Maturity of the Securities of any series, the Holders of not less than a majority in aggregate principal amount of such series of Securities at the time Outstanding may on behalf of the Holders of all Holders of the Securities of such series waive any existing or past Default or Event of Default hereunder and its consequences hereunder, except a continuing Default or Event of Default (i) in the payment of interest or any premium on or principal of, premium, if any, or interest on (or Additional Amount payable in respect of), the Securities of such series then Outstanding, in which event the consent of all Holders of the Securities of such series then Outstanding affected thereby is requiredor in the case of any Securities which are convertible into or exchangeable for other securities or property, a Default in any such conversion or exchange, or (ii) a Default in respect of a covenant or provision hereof which under Section 14.02 cannot be modified or amended without the consent of the Holder of each Outstanding Security of such series then Outstanding affected therebyaffected. Upon any such waiver, waiver the Company, the Trustee and the Holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively; provided that but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. Whenever any Default or Event of Default hereunder shall have been waived as permitted by this Section 7.06, said Default or Event of Default shall for all purposes of the Securities of such series and this Indenture be deemed to have been cured and to be not continuing.

Appears in 1 contract

Samples: Indenture (Healthpeak OP, LLC)

Control by Securityholders; Waiver of Past Defaults. The Holders of a majority in principal amount of the Securities of any series at the time Outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee hereunder, or of exercising any trust or power hereby conferred upon the Trustee with respect to the Securities of such series; provided, however, that, subject to the provisions of Section 11.02, the Trustee shall have the right to decline to follow any such direction if the Trustee being advised by counsel determines that the action so directed may not lawfully be taken or would involve the Trustee in personal liability. The Prior to any declaration accelerating the Maturity of the Securities of any series, the Holders of not less than a majority in aggregate principal amount of such series of Securities at the time Outstanding may on behalf of the Holders of all Holders of the Securities of such series waive any existing or past Default or Event of Default hereunder and its consequences hereunder, except a continuing Default or Event of Default (i) in the payment of interest or any premium on or the principal of, premium, if any, or interest on (or Additional Amount payable in respect of), the Securities of such series then Outstanding, in which event the consent of all Holders of the Securities of such series then Outstanding affected thereby is required, or (ii) in respect of a covenant or provision which under Section 14.02 cannot be modified or amended without the consent of the Holder of each Security of such series then Outstanding affected therebyseries. Upon any such waiver, the Company, the Trustee and the Holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively; provided that no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. Whenever any Default or Event of Default hereunder shall have been waived as permitted by this Section 7.06, said Default or Event of Default shall for all purposes of the Securities of such series and this Indenture be deemed to have been cured and to be not continuing.

Appears in 1 contract

Samples: Indenture (Pall Corp)

Control by Securityholders; Waiver of Past Defaults. The Holders of a majority in principal amount of the Securities of any series at the time Outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee hereunder, or of exercising any trust or power hereby conferred upon the Trustee with respect to the Securities of such series; , provided, however, that, subject to the provisions of Section Sections 11.01 and 11.02, the Trustee shall have the right to decline to follow any such direction if the Trustee being advised by counsel determines that the action so directed may not lawfully be taken or would be unduly prejudicial to Holders not joining in such direction (it being understood that the Trustee does not have an affirmative duty to ascertain whether or not any such directions are unduly prejudicial to such Holders) or could involve the Trustee in personal liability. The Prior to taking any action as directed under this Section 7.06, the Trustee shall be entitled to security or indemnity satisfactory to it against the costs, expenses and liabilities that might be incurred by it in compliance with such request or direction. Prior to any acceleration of the Maturity of the Securities of any series, the Holders of not less than a majority in aggregate principal amount of such series of Securities at the time Outstanding may on behalf of the Holders of all Holders of the Securities of such series waive any existing or past Default or Event of Default hereunder and its consequences hereunder, except a continuing Default or Event of Default (i) in the payment of interest or any premium on or the principal of, premium, if any, or interest on (or Additional Amount payable in respect of), the Securities of such series then Outstanding, in which event the consent of all Holders of the Securities of such series then Outstanding affected thereby is required, or (ii) in respect of and except as to a covenant or provision condition which under Section 14.02 cannot be modified or amended without the consent of the Holder of each Outstanding Security of such series then affected, in which case the consent of the Holder of each Outstanding Security of such series affected therebyshall be required for such waiver. Upon any such waiver, waiver the Company, the Trustee and the Holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively; provided that no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. Whenever any Default or Event of Default hereunder shall have been waived as permitted by this Section 7.06, said Default or Event of Default shall for all purposes of the Securities of such series and this Indenture be deemed to have been cured and to be not continuing.40

Appears in 1 contract

Samples: Vectrus, Inc.

Control by Securityholders; Waiver of Past Defaults. The Holders of a majority in principal amount of the Securities of any series at the time Outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee hereunder, or of exercising any trust or power hereby conferred upon the Trustee with respect to the Securities of such series; , provided, however, that, subject to the provisions of Section Sections 11.01 and 11.02, the Trustee shall have the right to decline to follow any such direction if the Trustee being advised by counsel determines that the action so directed may not lawfully be taken or would be unduly prejudicial to Holders not joining in such direction or would involve the Trustee in personal liability. The Prior to any acceleration of the Maturity of the Securities of any series, the Holders of not less than a majority in aggregate principal amount of such series of Securities at the time Outstanding may on behalf of the Holders of all Holders of the Securities of such series waive any existing or past Default or Event of Default hereunder and its consequences hereunder, except a continuing Default or Event of Default (i) in the payment of interest or any premium on or the principal of, premium, if any, or interest on (or Additional Amount payable in respect of), the Securities of such series then Outstanding, in which event the consent of all Holders of the Securities of such series then Outstanding affected thereby is required, or (ii) in respect of and except as to a covenant or provision condition which under Section 14.02 cannot be modified or amended without the consent of the Holder of each Outstanding Security of such series then affected, in which case the consent of the Holder of each Outstanding Security of such series affected therebyshall be required for such waiver. Upon any such waiver, waiver the Company, the Trustee and the Holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively; provided that but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. Whenever any Default or Event of Default hereunder shall have been waived as permitted by this Section 7.06, said Default or Event of Default shall for all purposes of the Securities of such series and this Indenture be deemed to have been cured and to be not continuing.

Appears in 1 contract

Samples: MorphoSys AG

Control by Securityholders; Waiver of Past Defaults. The Holders of a majority in principal amount of the Securities of any series at the time Outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee hereunder, or of exercising any trust or power hereby conferred upon the Trustee with respect to the Securities of such series; , provided, however, that, subject to the provisions of Section 11.02Sections 11.1 and 11.2, the Trustee shall have the right to decline to follow any such direction if the Trustee being advised by counsel determines that the action so directed may not lawfully be taken or would be unduly prejudicial to Holders not joining in such direction or would involve the Trustee in personal liability. The Prior to any declaration accelerating the Maturity of the Securities of any series, the Holders of not less than a majority in aggregate principal amount of such series of Securities at the time Outstanding may on behalf of the Holders of all Holders of the Securities of such series waive any existing or past Default or Event of Default hereunder and its consequences hereunder, except a continuing Default or Event of Default (ia) in the payment of interest or any premium on or the principal of, premium, if any, or interest on (or Additional Amount payable in respect of), the Securities of such series then Outstanding, in which event the consent of all Holders of the Securities of such series, (b) arising from the failure to redeem or purchase any Security of such series then Outstanding affected thereby is required, when required pursuant to the terms of this Indenture or (iic) in respect of a covenant or provision which that under Section 14.02 14.2 cannot be modified or amended without the consent of the each Holder of each Security Securities of such series then Outstanding affected therebyaffected. Upon any such waiver, waiver the CompanyIssuer, the Trustee and the Holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively; provided that but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. Whenever any Default or Event of Default hereunder shall have been waived as permitted by this Section 7.067.6, said Default or Event of Default shall for all purposes of the Securities of such series and this Indenture be deemed to have been cured and to be not continuing.

Appears in 1 contract

Samples: Indenture (Molson Coors Brewing Co)

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