Default on Senior Indebtedness of the Company. The Company shall not pay principal of, premium, if any, or interest on the Securities (or pay any other obligations relating to the Securities, including additional interest, fees, costs, expenses, indemnities and rescission or damage claims) or make any deposit pursuant to Article Four or Article Thirteen hereof and may not purchase, redeem or otherwise retire any Securities (collectively, “pay the Securities”) (except in the form of Permitted Junior Securities) if either of the following occurs (a “Payment Default”):
Appears in 2 contracts
Samples: Indenture (Peabody Energy Corp), Cottonwood Land Co
Default on Senior Indebtedness of the Company. The Company shall not pay the principal of, premium, if any, or interest interest, if any, on the Securities (or pay any other obligations relating to the Securities, including additional interest, fees, costs, expenses, indemnities and rescission or damage claims) Subordinated Securities Obligations or make any deposit pursuant to Article Four or Article Thirteen hereof Section 8.01 and may not purchase, redeem or otherwise retire any Securities or other Subordinated Securities Obligations (collectively, “pay the Securities”) (except in the form of Permitted Junior Securities) if either of the following occurs (a “Payment Default”):) occurs:
Appears in 2 contracts
Samples: Purchase Agreement (Amh Holdings, LLC), Indenture (Associated Materials, LLC)
Default on Senior Indebtedness of the Company. The Company shall not pay the principal of, premium, if any, of or interest on the Securities (or pay any other obligations relating to the Securities, including additional interest, fees, costs, expenses, indemnities and rescission or damage claims) or make any deposit pursuant to Article Four or Article Thirteen hereof Section 8.01 and may not purchase, redeem or otherwise retire any Securities (collectively, “"pay the Securities”) (except in the form of Permitted Junior Securities") if either of the following (a "Payment Default") occurs (a “Payment Default”):1) any Designated Senior Indebtedness of the Company is not paid in cash when due; or (2) any other default on
Appears in 1 contract
Samples: Indenture (GSV Inc /Fl/)
