Common use of Default in Senior Indebtedness Clause in Contracts

Default in Senior Indebtedness. In the event and during the continuation of any default by the Company in the payment of principal, premium, if any, interest or any other payment due on any Senior Indebtedness of the Company, as the case may be, beyond any applicable grace period with respect thereto, or in the event that the maturity of any Senior Indebtedness of the Company has been accelerated because of any default, then, in any such case, no payment shall be made by the Company with respect to the principal (including redemption payments, if any) of, premium or make-whole amount, if any, or interest or other amounts on the Securities until such default is cured or waived or ceases to exist or any such acceleration or demand for payment has been rescinded. In the event that, notwithstanding the foregoing, the Company shall make any payment to the Trustee or the Holder of any Securities of any series prohibited by the foregoing provisions of this Section [1.04], and if such facts then shall have been known or thereafter shall have been made known to the Trustee (as provided in Section [1.11]) or to such Holder, as the case may be, pursuant to the terms of this Indenture, then and in such event such payment shall be paid over and delivered forthwith to the Company by or on behalf of the person holding such payment for the benefit of the holders of Senior Indebtedness. The provisions of this Section [1.04] shall not apply to any payment with respect to which Section [1.02] would be applicable.

Default in Senior Indebtedness. In the event and during the continuation of any default by the Company in the payment of principal, principal of (or premium, if any, ) or interest or any other payment due on any Senior Indebtedness of the Company, as the case may be, beyond any applicable grace period with respect thereto, or in the event that the maturity any event of default with respect to any Senior Indebtedness shall have occurred and be continuing permitting the holders of such Senior Indebtedness (or a trustee on behalf of the Company has holders thereof) to declare such Senior Indebtedness due and payable prior to the date on which it would otherwise have become due and payable, unless and until such event of default shall have been accelerated because cured or waived or shall have ceased to exist and, if any such Senior Indebtedness shall have been accelerated, such acceleration shall have been rescinded or annulled, or (b) in the event any judicial proceeding shall be pending with respect to any default in payment or event of any default, then, in any such case, then no payment shall be made by the Company with respect to the on account of principal of (including redemption paymentsor premium, if any) of, premium or make-whole amount, if any, or interest or other amounts on the Securities until such default is cured or waived on account of the purchase or ceases other acquisition of Securities (except that Holders of the Securities may receive (A) Permitted Junior Securities and (B) payments and other distributions made from any trust created pursuant to exist or any such acceleration or demand for payment has been rescindedArticle VIII). In the event that, notwithstanding the foregoing, the Company shall make any payment to the Trustee or the Holder of any Securities of any series Security prohibited by the foregoing provisions of this Section [1.04], and if such facts then shall have been known or thereafter shall have been made known to the Trustee (as provided in Section [1.11]) or to such Holder, as the case may be, pursuant to the terms of this Indenture, then and in such event such payment shall be paid over and delivered forthwith to the Company by or on behalf of the person holding such payment for the benefit of the holders of Senior Indebtedness. The provisions of this Section [1.04] shall not apply to any payment with respect to which Section [1.02] would be applicable.Section

Default in Senior Indebtedness. In the event and during the continuation of any default by the Company in the payment of principal, premium, if any, interest or any other payment due on any Senior Indebtedness of the Company, as the case may be, beyond any applicable grace period with respect thereto, or in the event that the maturity of any Senior Indebtedness of the Company has been accelerated because of any default, then, in any such case, no payment shall be made by the Company with respect to the principal (including redemption payments, if any) of, premium or make-whole amount, if any, or interest or other amounts on the Securities until such default is cured or waived or ceases to exist or any such acceleration or demand for payment has been rescinded. In the event that, notwithstanding the foregoing, the Company shall make any payment to the Trustee or the Holder of any Securities of any series prohibited by the foregoing provisions of this Section [1.04], and if such facts then shall have been known or thereafter shall have been made known to the Trustee (as provided in Section [1.11]) or to such Holder, as the case may be, pursuant to the terms of this Indenture, then and in such event such payment shall be paid over and delivered forthwith to the Company by or on behalf of the person holding such payment for the benefit of the holders of Senior senior Indebtedness. The provisions of this Section [1.04] 1.04 shall not apply to any payment with respect to which Section [1.02] 1.02 would be applicable.