Common use of Default on Senior Indebtedness Clause in Contracts

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, no payment shall be made by the Credit Union with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) In the event of the acceleration of the maturity of the Senior Indebtedness, then no payment shall be made by the Credit Union with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) In the event that, notwithstanding the foregoing, any payment is received by any Holder of a Senior Subordinated Security, when such payment is prohibited by the preceding paragraphs of this Section 7.2, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union in writing within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Company in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, no payment shall be made by the Credit Union Company with respect to the principal or interest on the Senior Subordinated Securities Notes or any other amounts which may be due on the Senior Subordinated Securities Notes pursuant to the terms hereof or thereof. (b) In the event of the acceleration of the maturity of the Senior Indebtedness, then no payment shall be made by the Credit Union Company with respect to the principal or interest on the Senior Subordinated Securities Notes or any other amounts which may be due on the Senior Subordinated Securities Notes pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) In the event that, notwithstanding the foregoing, any payment is received by any Holder of a Senior Subordinated SecurityNote, when such payment is prohibited by the preceding paragraphs of this Section 7.26.2, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities Notes to the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Company in writing within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union Company shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Company in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, or in the event that the maturity of any Senior Indebtedness has been accelerated because of a default, then, in either case, no payment shall be made by the Credit Union Company with respect to the principal (including redemption payments) of or premium, if any, or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) Securities. In the event of the acceleration of the maturity of the Senior IndebtednessSecurities, then no payment shall be made by the Credit Union Company with respect to the principal (including redemption payments) of or premium, if any, or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, payment in full, of all amounts due on or in respect full of such Senior Indebtedness (including any amounts due upon acceleration). (c) . In the event that, notwithstanding the foregoing, any payment is shall be received by any Holder of a Senior Subordinated Security, the Trustee when such payment is prohibited by the preceding paragraphs of this Section 7.215.02, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to to, the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Trustee in writing writing, within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, Indebtedness and only the amounts specified in such notice to the Credit Union Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Company in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, no payment shall be made by the Credit Union Company with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) In the event of the acceleration of the maturity of the Senior Indebtedness, then no payment shall be made by the Credit Union Company with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) In the event that, notwithstanding the foregoing, any payment is received by any Holder of a Senior Subordinated Security, when such payment is prohibited by the preceding paragraphs of this Section 7.26.2, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Company in writing within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union Company shall be paid to the holders of such Senior Indebtedness. The Credit Union Company shall, within ten (10) business days of receipt of such notice, provide Investor with Treasury with (i) a copy of such notice delivered to the Credit Union Company and (ii) a certificate signed on behalf of the Credit Union Company by a Senior an Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Company in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, no payment shall be made by the Credit Union Company with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) In the event of the acceleration of the maturity of the Senior Indebtedness, then no payment shall be made by the Credit Union Company with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) In the event that, notwithstanding the foregoing, any payment is received by any Holder of a Senior Subordinated Security, when such payment is prohibited by the preceding paragraphs of this Section 7.2, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Company in writing within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union Company shall be paid to the holders of such Senior Indebtedness. The Credit Union Company shall, within ten (10) business days of receipt of such notice, provide Investor with with (i) a copy of such notice delivered to the Credit Union Company and (ii) a certificate signed on behalf of the Credit Union Company by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. If there should occur any receivership insolvency, assignment for the benefit of creditors, bankruptcy, reorganization or arrangement with creditors (a) In whether or not pursuant to bankruptcy or other insolvency laws), sale of all or substantially all of the event and during the continuation of any default by the Credit Union in the payment of principalassets, premiumdissolution, interest liquidation or any other payment marshalling of the assets and liabilities of Borrower, or if this Note shall be declared due on and payable upon the occurrence of an "Event of Default" with respect to any Senior Indebtedness, then (i) no payment amount shall be made paid by the Credit Union with Xxxxxxxx in respect to of the principal of or interest on this Note at the time outstanding, unless and until the principal of and interest on the Senior Subordinated Securities Indebtedness then outstanding shall be satisfied, and (ii) no claim or proof of claim shall be filed with the Borrower by or on behalf of the Lender that shall assert any other amounts which may be due right to receive any payment in respect of the principal of and interest on the Senior Subordinated Securities pursuant this Note, except subject to the terms hereof or thereof. (b) In satisfaction of the principal of and interest on all Senior Indebtedness then outstanding. If there occurs an "event of default" (or similar event) that has been declared in writing with respect to any Senior Indebtedness, or in the acceleration instrument under which any Senior Indebtedness is outstanding, permitting the holder of such Senior Indebtedness to accelerate the maturity of the Senior Indebtednessthereof, then no payment shall be made by in respect of the Credit Union with respect Principal Amount or interest accrued but unpaid on this Note, unless and until (i) such "event of default" (or similar event) shall have been cured or waived or shall have ceased to exist, (ii) the principal or of and interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at shall have been satisfied, or (iii) the time of such acceleration shall receive payment, in full, of all amounts due on or in respect maturity of such Senior Indebtedness shall not have been accelerated within three (including any amounts due upon acceleration3) months after the occurrence of such "event of default" (or similar event). (c) In the event that, notwithstanding the foregoing, any payment is received by any Holder of a Senior Subordinated Security, when such payment is prohibited by the preceding paragraphs of this Section 7.2, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union in writing within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Company in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, no payment shall be made by the Credit Union Company with respect to the principal or interest on the CDCI Senior Subordinated Securities or any other amounts which may be due on the CDCI Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) In the event of the acceleration of the maturity of the Senior Indebtedness, then no payment shall be made by the Credit Union Company with respect to the principal or interest on the CDCI Senior Subordinated Securities or any other amounts which may be due on the CDCI Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) In the event that, notwithstanding the foregoing, any payment is received by any Holder of a CDCI Senior Subordinated Security, when such payment is prohibited by the preceding paragraphs of this Section 7.26.2, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the CDCI Senior Subordinated Securities to the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Company in writing within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union Company shall be paid to the holders of such Senior Indebtedness. The Credit Union Company shall, within ten (10) business days of receipt of such notice, provide Investor with with (i) a copy of such notice delivered to the Credit Union Company and (ii) a certificate signed on behalf of the Credit Union Company by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the CDCI Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. If there should occur any ------------------------------ receivership, insolvency, assignment for the benefit of creditors, bankruptcy, reorganization or arrangements with creditors (whether or not pursuant to bankruptcy or other insolvency laws), sale of all or substantially all of the assets, dissolution, liquidation or any other marshalling of the assets and liabilities of the Company, or if the Note shall be declared due and payable upon the occurrence of an Event of Default with respect to any Senior Indebtedness, then (a) In the event and during the continuation of any default no amount shall be paid by the Credit Union Company in respect of the principal of or interest on the Note at the time outstanding, unless and until the principal of and interest on the Senior Indebtedness then outstanding shall be paid in full, and (b) no claim or proof of claim shall be filed with the Company by or on behalf of the Holder of the Note that shall assert any right to receive any payments in respect of the principal of and interest on the Note, except subject to the payment in full of principal, premium, the principal of and interest or any other payment due on all of the Senior Indebtedness then outstanding. If there occurs an Event of Default that has been declared in writing with respect to any Senior Indebtedness, or in the instrument under which any Senior Indebtedness is outstanding, permitting the holder of such Senior Indebtedness to accelerate the maturity thereof, then, unless and until such Event of Default shall have been cured or waived or shall have ceased to exist, or all Senior Indebtedness shall have been paid in full, no payment shall be made by the Credit Union with in respect to of the principal of or interest on the Senior Subordinated Securities or any other amounts which may be due on Note, unless within three (3) months after the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) In the event happening of the acceleration such Event of Default, the maturity of the Senior Indebtedness, then no payment shall be made by the Credit Union with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) In the event that, notwithstanding the foregoing, any payment is received by any Holder of a Senior Subordinated Security, when such payment is prohibited by the preceding paragraphs of this Section 7.2, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may not have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union in writing within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified thereinaccelerated.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Company in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, or in the event that the maturity of any Senior Indebtedness has been accelerated because of a default, then, in either case, no payment shall be made by the Credit Union Company with respect to the principal (including prepayments) of or premium, if any, or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) Securities. In the event of the acceleration of the maturity of the Senior IndebtednessSecurities, then no payment shall be made by the Credit Union Company with respect to the principal (including prepayments) of or premium, if any, or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, payment in full, full of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) . In the event that, notwithstanding the foregoing, any payment is shall be received by any Holder of a Senior Subordinated Security, the Trustee when such payment is prohibited by the preceding paragraphs paragraph of this Section 7.215.02, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to to, the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts due in respect of such Senior Indebtedness and only to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Trustee in writing writing, within 90 days of such payment payment, of the amounts then due and owing on such Senior Indebtedness, Indebtedness and only the amounts specified in such notice to the Credit Union Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, no payment shall be made by the Credit Union with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof.thereof.‌ (b) In the event of the acceleration of the maturity of the Senior Indebtedness, then no payment shall be made by the Credit Union with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) In the event that, notwithstanding the foregoing, any payment is received by any Holder of a Senior Subordinated Security, when such payment is prohibited by the preceding paragraphs of this Section 7.2, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union in writing within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In Unless Section 10.02 shall be applicable, upon (i) the event occurrence of a Payment Default and during the continuation of any default (ii) receipt by the Credit Union in Trustee from the payment Company or a holder of principal, premium, interest or any other payment due on any Senior IndebtednessIndebtedness of written notice of such occurrence, no payment (other than any payments made pursuant to the provisions contained in Section 8.03 from monies or Government Securities previously deposited with the Trustee) or distribution of any assets of the Company of any kind or character from any source, whether in cash, property or securities (other than Permitted Junior Securities), shall be made by the Credit Union with Company including by way of set-off or enforcement of any guarantee or otherwise, on account of the Subordinated Obligations or on account of the purchase or redemption, deposit for defeasance or other acquisition of Securities unless and until such Payment Default shall have been cured or waived in writing or shall have ceased to exist or such Senior Indebtedness shall have been discharged or paid in full in cash or Cash Equivalents, after which the Company shall resume making any and all required payments in respect to of the principal or interest on the Senior Subordinated Securities or Securities, including any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereofmissed payments. (b) In Unless Section 10.02 shall be applicable, upon (i) the event occurrence of a Non-Payment Default and (ii) receipt by the Trustee from an authorized representative of the acceleration holders of the maturity Designated Senior Indebtedness of the Senior Indebtednesswritten notice of such occurrence, then no payment (other than any payments made pursuant to the provisions contained in Section 8.03 from monies or Government Securities previously deposited with the Trustee) or distribution of any assets of the Company of any kind or character from any source, whether in cash, property or securities (other than Permitted Junior Securities), shall be made by the Credit Union Company including by way of set-off or enforcement of any guarantee or otherwise, on account of the Subordinated Obligations or on account of the purchase or redemption, deposit for defeasance or other acquisition of Securities for a period (the “Payment Blockage Period”) commencing on the date of receipt by the Trustee of such notice from an authorized representative of the holders of Designated Senior Indebtedness or the Company at the direction of such representative unless and until (subject to any blockage of payments that may then be in effect under subsection (a) of this Section) (w) more than 179 days shall have elapsed since receipt of such written notice by the Trustee, (x) such Non-Payment Default shall have been cured or waived in writing or shall have ceased to exist, (y) such Designated Senior Indebtedness has been discharged or paid in full in cash or Cash Equivalents or (z) such Payment Blockage Period shall have been terminated by written notice to the Trustee from an authorized representative of the holders of Designated Senior Indebtedness initiating such Payment Blockage Period or from the holders of at least a majority in principal amount of such Designated Senior Indebtedness), after which, in the case of clause (w), (x), (y) or (z), the Company shall resume making any and all required payments in respect of the Securities, including any missed payments. Notwithstanding any other provision of this Indenture, in no event shall a Payment Blockage Period extend beyond 179 days from the date of the receipt by the Trustee of the notice referred to in clause (ii) above (the “Initial Blockage Period”). No more than one Payment Blockage Period may be commenced during any period of 365 consecutive days. Notwithstanding any other provision of this Indenture, no event of default with respect to the principal Designated Senior Indebtedness which existed or interest was continuing on the Senior Subordinated Securities or date of the commencement of any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until Payment Blockage Period initiated by an authorized representative of the holders of all Designated Senior Indebtedness outstanding at the time of for such acceleration shall receive payment, in full, of all amounts due on or in respect of such Designated Senior Indebtedness (including any amounts due upon acceleration)shall be, or be made, the basis for the commencement of a second Payment Blockage Period for such Designated Senior Indebtedness, whether or not within the Initial Blockage Period, unless such event of default shall have been cured or waived for a period of not less than 90 consecutive days. (c) In the event that, notwithstanding the foregoingforegoing provisions of this Section, the Company shall make any payment to the Trustee (which is received by any Holder not paid over to Holders of a Senior Subordinated Security, when such payment is Securities) prohibited by the preceding paragraphs foregoing provisions of this Section 7.2Section, then and in such event such payment shall be paid over to the authorized representatives of such Designated Senior Indebtedness initiating the Payment Blockage Period, to be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities distribution to the holders of Senior Indebtedness or their respective representativesor, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts are not then due in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union in writing within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice prompt return to the Credit Union Company, or otherwise as a court of competent jurisdiction shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified thereindirect.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Company in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, or in the event that the maturity of any Senior Indebtedness has been accelerated because of a default, then, in either case, no payment shall be made by the Credit Union Company with respect to the principal (including redemption payments) of or premium, if any, or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) Securities. In the event of the acceleration of the maturity of the Senior IndebtednessSecurities, then no payment shall be made by the Credit Union Company with respect to the principal (including redemption payments) of or premium, if any, or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, payment in full, full of all amounts Allocable Amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) . In the event that, notwithstanding the foregoing, any payment is shall be received by any Holder of a Senior Subordinated Security, the Trustee when such payment is prohibited by the preceding paragraphs paragraph of this Section 7.215.02, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to to, the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts Allocable Amounts in respect of such Senior Indebtedness and only to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Trustee in writing writing, within 90 days of such payment payment, of the amounts Allocable Amounts then due and owing on such Senior Indebtedness, Indebtedness and only the amounts Allocable Amounts specified in such notice to the Credit Union Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Company in the payment of principal, premium, interest or any other payment due on any Senior IndebtednessIndebtedness of the Company, as the case may be, or in the event that the maturity of any Senior Indebtedness of the Company, as the case may be, has been accelerated because of a default, then, in either case, no payment shall be made by the Credit Union Company with respect to the principal (including redemption payments) of, or premium, if any, or interest on on, the Senior Subordinated Securities or to acquire any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) In the event of the acceleration of the maturity of the Senior Indebtedness, then no payment shall be made by the Credit Union with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) Securities. In the event that, notwithstanding the foregoing, any payment is shall be received by the Trustee, by any Holder of a Senior Subordinated Securityor by any Paying Agent (or, if the Company is acting as its own Paying Agent, money for any such payment is segregated and held in trust) when such payment is prohibited by the preceding paragraphs paragraph of this Section 7.214.2, before all Senior Indebtedness of the Company is paid in full, or provision is made for such payment in money in accordance with its terms, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to to, the holders of Senior Indebtedness of the Company or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only ratably according to the aggregate amount remaining unpaid on account of the principal, premium, interest or any other payment due on the Senior Indebtedness held or represented by each, for application to the payment of all Senior Indebtedness of the Company, as the case may be, remaining unpaid to the extent necessary to pay such Senior Indebtedness in full in money in accordance with its terms, after giving effect to any concurrent payment or distribution to or for the benefit of the amounts in respect holders of such Senior Indebtedness and Indebtedness, but only to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Trustee in writing within 90 days of such payment of the amounts then due and owing on such the Senior Indebtedness, Indebtedness and only the amounts specified in such notice to the Credit Union Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In The Issuers may not make any payment or distribution to the event Trustee or any Holder in respect of Obligations with respect to the Notes and during may not acquire from the continuation of Trustee or any Holder any Notes for cash or property (other than Permitted Subordinated Securities) until all principal and other Obligations with respect to the Senior Indebtedness have been paid in full if: (i) a default by the Credit Union in the payment of any principal, interest or other Obligations with respect to Senior Indebtedness occurs and is continuing beyond any applicable grace period in the agreement, indenture or other document governing such Senior Indebtedness; or (ii) a default, other than a default under clause (i), on Senior Indebtedness occurs and is continuing that then permits holders of the Senior Indebtedness to accelerate its maturity and the Trustee receives a Payment Blockage Notice from a Person who may give it pursuant to Section 9.11 hereof. If the Trustee receives any such Payment Blockage Notice, no subsequent Payment Blockage Notice shall be effective for purposes of this Section unless and until (A) at least 360 days shall have elapsed since the effectiveness of the immediately prior Payment Blockage Notice and (B) all scheduled payments of principal, premium, interest or any other payment due on any Senior Indebtednessif any, no payment shall be made by the Credit Union with respect to the principal or and interest on the Senior Subordinated Securities Notes that have come due have been paid in full in cash. No nonpayment default that existed or any other amounts which may be due was continuing on the Senior Subordinated Securities pursuant date of delivery of any Payment Blockage Notice to the terms hereof Trustee shall be, or thereofbe made, the basis for a subsequent Payment Blockage Notice unless such default shall have been cured or waived for a period of not less than 90 days. (b) In the event The Issuers may and shall resume payments on and distributions in respect of the acceleration Notes and the Company may acquire the Notes upon the earlier of: (i) in the case of a default referred to in clause (i) of Section 9.03(a) hereof, the date upon which the default is cured or waived, or (ii) in the case of a default referred to in clause (ii) of Section 9.03(a) hereof, upon the earlier of the date which such default is cured or waived or 181 days after the Payment Blockage Notice was received if the maturity of the Senior Indebtedness, then no payment shall be made by the Credit Union with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all such Senior Indebtedness outstanding has not been accelerated, if this Article 9 otherwise permits the payment, distribution or acquisition at the time of such acceleration shall receive payment, in full, of all amounts due on distribution or in respect of such Senior Indebtedness (including any amounts due upon acceleration)acquisition. (c) In the event that, notwithstanding the foregoing, any payment is received by any Holder of a Senior Subordinated Security, when such payment is prohibited by the preceding paragraphs of this Section 7.2, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union in writing within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Company in the payment of principal, premium, interest or any other payment due on any Senior IndebtednessIndebtedness of the Company, as the case may be, or in the event that the maturity of any Senior Indebtedness of the Company, as the case may be, has been accelerated because of a default, then, in either case, no payment shall be made by the Credit Union Company with respect to the principal (including redemption payments) of, or premium, if any, or interest on on, the Senior Subordinated Securities or to acquire any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) In the event of the acceleration of the maturity of the Senior Indebtedness, then no payment shall be Securities (except sinking fund payments made in Securities acquired by the Credit Union with respect Company prior to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) default): In the event that, notwithstanding the foregoing, any payment is shall be received by the Trustee, by any Holder of a Senior Subordinated Securityor by any Paying Agent (or, if the Company is acting as its own Paying Agent, money for any such payment is segregated and held in trust) when such payment is prohibited by the preceding paragraphs paragraph of this Section 7.214.2, before all Senior Indebtedness of the Company is paid in full, or provision is made for such payment in money in accordance with its terms, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to to, the holders of Senior Indebtedness of the Company or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only ratably according to the aggregate amount remaining unpaid on account of the principal, premium, interest or any other payment due on the Senior Indebtedness held or represented by each, for application to the payment of all Senior Indebtedness of the Company, as the case may be, remaining unpaid to the extent necessary to pay such Senior Indebtedness in full in money in accordance with its terms, after giving effect to any concurrent payment or distribution to or for the benefit of the amounts in respect holders of such Senior Indebtedness and Indebtedness, but only to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Trustee in writing within 90 days of such payment of the amounts then due and owing on such the Senior Indebtedness, Indebtedness and only the amounts specified in such notice to the Credit Union Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. If there should occur any receivership, insolvency, assignment for the benefit of creditors, bankruptcy, reorganization or arrangements with creditors (a) In whether or not pursuant to bankruptcy or other insolvency laws), sale of all or substantially all of the event and during the continuation of any default by the Credit Union in the payment of principalassets, premiumdissolution, interest liquidation or any other payment marshaling of the assets and liabilities of the Company, or if this Note shall be declared due on and payable upon the occurrence of an event of default with respect to any Senior Indebtedness, then (i) no amount shall be paid by the Company in respect of the principal of or interest on this Note at the time outstanding, unless and until the principal of and interest on the Senior Indebtedness then outstanding shall be paid in full, and (ii) no claim or proof of claim shall be filed with the Company by or on behalf of the Holder of this Note that shall assert any right to receive any payments in respect of the principal of and interest on this Note, except subject to the payment in full of the principal of and interest on all of the Senior Indebtedness then outstanding. If there occurs an event of default that has been declared in writing with respect to any Senior Indebtedness, or in the instrument under which any Senior Indebtedness is outstanding, permitting the holder of such Senior Indebtedness to accelerate the maturity thereof, then, unless and until such event of default shall have been cured or waived or shall have ceased to exist, or all Senior Indebtedness shall have been paid in full, no payment shall be made by the Credit Union with in respect to of the principal of or interest on this Note, unless within 90 days after the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) In the happening of such event of the acceleration of default, the maturity of the Senior Indebtedness, then no payment shall be made by the Credit Union with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) In the event that, notwithstanding the foregoing, any payment is received by any Holder of a Senior Subordinated Security, when such payment is prohibited by the preceding paragraphs of this Section 7.2, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may not have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union in writing within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified thereinaccelerated.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Company in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, or in the event that the maturity of any Senior Indebtedness has been accelerated because of a default and such acceleration has not been rescinded or canceled, then, in either case, no payment shall be made by the Credit Union Company with respect to the principal (including prepayment payments) of or interest on the Senior Subordinated Securities Debentures (including Compounded Interest and Additional Sums, if any, or any other amounts which may be due on the Senior Subordinated Securities Debentures pursuant to the terms hereof or thereof. (b) ). In the event of the acceleration of the maturity of the Senior IndebtednessDebentures, then no payment shall be made by the Credit Union Company with respect to the principal (including prepayment payments) of or interest on the Senior Subordinated Securities Debentures (including Compounded Interest and Additional Sums, if any, or any other amounts which may be due on the Senior Subordinated Securities Debentures pursuant to the terms hereof or thereof thereof) until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts Allocable Amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) . In the event that, notwithstanding the foregoing, any payment is received by the Trustee, or any Holder of a Senior Subordinated SecurityDebentureholder, when such payment is prohibited by the preceding paragraphs of this Section 7.215.02, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of Trustee (if the Senior Subordinated Securities notice requested by Section 15.06 has been received by the Trustee) or by any Debentureholder, to the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts Allocable Amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Trustee in writing within 90 days prior to the Trustee's receipt of such payment of the amounts Allocable Amounts then due and owing on such Senior Indebtedness, and only the amounts Allocable Amounts specified in such notice to the Credit Union Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Recipient in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, no payment shall be made by the Credit Union Recipient with respect to the principal or interest on the Senior Subordinated Securities Debt or any other amounts which may be due on the Senior Subordinated Securities Debt pursuant to the terms hereof or thereof. (b) In the event of the acceleration of the maturity of the Senior Indebtedness, then no payment shall be made by the Credit Union Recipient with respect to the principal or interest on the Senior Subordinated Securities Debt or any other amounts which may be due on the Senior Subordinated Securities Debt pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) In the event that, notwithstanding the foregoing, any payment is received by any Holder of a Senior Subordinated Security, when such payment is prohibited by the preceding paragraphs of this Section 7.2, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities Security to the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Recipient in writing within 90 ninety (90) days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union Recipient shall be paid to the holders of such Senior Indebtedness. The Credit Union Recipient shall, within ten (10) business days of receipt of such notice, provide Investor with with (i) a copy of such notice delivered to the Credit Union Recipient and (ii) a certificate signed on behalf of the Credit Union Recipient by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities Security should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. If there should occur any receivership, insolvency, assignment for the benefit of creditors, bankruptcy, reorganization or arrangements with creditors (whether or not pursuant to bankruptcy or other insolvency laws), sale of all or substantially all of the assets, dissolution, liquidation or any other marshalling of the assets and liabilities of the Company, or if the Note shall be declared due and payable upon the occurrence of an Event of Default with respect to any Senior Indebtedness, then (a) In the event and during the continuation of any default no amount shall be paid by the Credit Union Company in respect of the principal of or interest on the Note at the time outstanding, unless and until the principal of and interest on the Senior Indebtedness then outstanding shall be paid in full, and (b) no claim or proof of claim shall be filed with the Company by or on behalf of the Holder of the Note that shall assert any right to receive any payments in respect of the principal of and interest on the Note, except subject to the payment in full of principal, premium, the principal of and interest or any other payment due on all of the Senior Indebtedness then outstanding. If there occurs an Event of Default that has been declared in writing with respect to any Senior Indebtedness, or in the instrument under which any Senior Indebtedness is outstanding, permitting the holder of such Senior Indebtedness to accelerate the maturity thereof, then, unless and until such Event of Default shall have been cured or waived or shall have ceased to exist, or all Senior Indebtedness shall have been paid in full, no payment shall be made by the Credit Union with in respect to of the principal of or interest on the Senior Subordinated Securities or any other amounts which may be due on Note, unless within three (3) months after the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) In the event happening of the acceleration such Event of Default, the maturity of the Senior Indebtedness, then no payment shall be made by the Credit Union with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) In the event that, notwithstanding the foregoing, any payment is received by any Holder of a Senior Subordinated Security, when such payment is prohibited by the preceding paragraphs of this Section 7.2, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may not have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union in writing within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified thereinaccelerated.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Corporation in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, no payment shall be made by the Credit Union Corporation with respect to the principal or interest on the Senior Subordinated Securities Notes or any other amounts which may be due on the Senior Subordinated Securities Notes pursuant to the terms hereof or thereof. (b) . In the event of the acceleration of the maturity of the Senior IndebtednessNotes of a series, then no payment shall be made by the Credit Union Corporation with respect to the principal or interest on the Senior Subordinated Securities Notes of such series or any other amounts which may be due on the Senior Subordinated Securities Notes of such series pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts Allocable Amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) . In the event that, notwithstanding the foregoing, any payment is received by the Trustee, or any Holder of a Senior Subordinated SecurityNoteholder, when such payment is prohibited by the preceding paragraphs of this Section 7.215.02, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of Trustee (if the Senior Subordinated Securities notice required by Section 15.06 has been received by the Trustee) or by any Noteholder, to the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts Allocable Amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Trustee in writing within 90 days of such payment of the amounts Allocable Amounts then due and owing on such Senior Indebtedness, and only the amounts Allocable Amounts specified in such notice to the Credit Union Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Corporation in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, or in the event that the maturity of any Senior Indebtedness has been accelerated because of a default, then, in either case, no payment shall be made by the Credit Union Corporation with respect to the principal (including prepayment payments) of (or premium, if any) or interest on the Senior Subordinated Securities (including Compounded Interest and Additional Sums (if any) and Liquidated Damages, if any, or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) ). In the event of the acceleration of the maturity of the Senior IndebtednessSecurities, then no payment shall be made by the Credit Union Corporation with respect to the principal (including prepayment payments) of (or premium, if any) or interest on the Senior Subordinated Securities (including Compounded Interest and Additional Sums (if any) and Liquidated Damages, if any, or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof thereof) until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, payment in full, of all amounts due on or in respect full of such Senior Indebtedness (including any amounts due upon acceleration). (c) . In the event that, notwithstanding the foregoing, any payment is shall be received by any Holder of a Senior Subordinated Security, the Debenture Trustee when such payment is prohibited by the preceding paragraphs of this Section 7.215.02, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to to, the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Debenture Trustee in writing within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union Debenture Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Corporation in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, or in the event that the maturity of any Senior Indebtedness has been accelerated because of a default, then, in either case, no payment shall be made by the Credit Union Corporation with respect to the principal (including prepayment payments) of (or premium, if any) or interest on the Senior Junior Subordinated Securities Debentures (including Compounded Interest and Additional Sums (if any) and Liquidated Damages, if any, or any other amounts which may be due on the Senior Junior Subordinated Securities Debentures pursuant to the terms hereof or thereof. (b) otherwise). In the event of the acceleration of the maturity of the Senior IndebtednessJunior Subordinated Debentures, then no payment shall be made by the Credit Union Corporation with respect to the principal (including prepayment payments) of (or premium, if any) or interest on the Senior Junior Subordinated Securities Debentures (including Compounded Interest and Additional Sums (if any) and Liquidated Damages, if any, or any other amounts which may be due on the Senior Junior Subordinated Securities Debentures pursuant to the terms hereof or thereof otherwise) until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, payment in full, of all amounts due on or in respect full of such Senior Indebtedness (including any amounts due upon acceleration). (c) . In the event that, notwithstanding the foregoing, any payment is shall be received by any Holder of a Senior Subordinated Security, the Debenture Trustee when such payment is prohibited by the preceding paragraphs of this Section 7.215.02, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to to, the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Debenture Trustee in writing within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union Debenture Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In No payment may be made of the event and during principal of, premium, if any, or interest on the continuation Securities, or in respect of any redemption, retirement, purchase or other acquisition of any of the Securities, at any time when (i) there is a default by the Credit Union in the payment of principalthe principal of, premium, if any, interest on or any other payment due on otherwise in respect of any Senior Indebtedness, no payment shall be made whether at maturity or at a date fixed for prepayment or by the Credit Union declaration or otherwise, or (ii) any event of default with respect to the principal or interest on the any Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities Indebtedness has occurred and is continuing, pursuant to the terms hereof or thereof. (b) In the event of the acceleration of the maturity of the Senior Indebtedness, then no payment shall be made by the Credit Union with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (cor a trustee on behalf of the holders thereof) have accelerated the maturity thereof. In the event that, notwithstanding the foregoing, any payment is shall be received by any Holder of a Senior Subordinated Security, the Debt Trustee when such payment is prohibited by the preceding paragraphs paragraph of this Section 7.215.2, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to to, the holders of Senior Indebtedness and Other Financial Obligations or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness and Other Financial Obligations may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness and Other Financial Obligations (or their representative or representatives or a trustee) notify the Credit Union Debt Trustee in writing within 90 days of such payment of the amounts then due and owing on such the Senior Indebtedness, Indebtedness and Other Financial Obligations and only the amounts specified in such notice to the Credit Union Debt Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union Indebtedness and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified thereinOther Financial Obligations.

Default on Senior Indebtedness. (a) In Unless Section 10.02 shall be applicable, upon (i) the event occurrence of a Payment Default and during the continuation of any default (ii) receipt by the Credit Union in Trustee from the payment Company or a holder of principal, premium, interest or any other payment due on any Senior IndebtednessIndebtedness of written notice of such occurrence, no payment (other than any payments made pursuant to the provisions contained in Section 8.03 from monies or Government Securities previously deposited with the Trustee) or distribution of any assets of the Company of any kind or character from any source, whether in cash, property or securities (other than Permitted Junior Securities), shall be made by the Credit Union with Company including by way of set-off or enforcement of any guarantee or otherwise, on account of the Securities Obligations or on account of the purchase, redemption, deposit for defeasance or other acquisition of Securities unless and until such Payment Default shall have been cured or waived in writing or shall have ceased to exist or such Senior Indebtedness shall have been discharged or paid in full in cash or Cash Equivalents, after which the Company shall resume making any and all required payments in respect to of the principal or interest on the Senior Subordinated Securities or Securities, including any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereofmissed payments. (b) In Unless Section 10.02 shall be applicable, upon (i) the event occurrence of a Non-Payment Default and (ii) receipt by the Trustee from an authorized representative of the acceleration holders of the maturity Designated Senior Indebtedness of the Senior Indebtednesswritten notice of such occurrence, then no payment (other than any payments made pursuant to the provisions contained in Section 8.03 from monies or Government Securities previously deposited with the Trustee) or distribution of any assets of the Company of any kind or character from any source, whether in cash, property or securities (other than Permitted Junior Securities), shall be made by the Credit Union Company including by way of set-off or enforcement of any guarantee or otherwise, on account of the Securities Obligations or on account of the purchase, redemption, deposit for defeasance or other acquisition of Securities for a period (the “Payment Blockage Period”) commencing on the date of receipt by the Trustee of such notice from an authorized representative of the holders of Designated Senior Indebtedness or the Company at the direction of such representative unless and until (subject to any blockage of payments that may then be in effect under subsection (a) of this Section) (w) more than 179 days shall have elapsed since receipt of such written notice by the Trustee, (x) such Non-Payment Default shall have been cured or waived in writing or shall have ceased to exist, (y) such Designated Senior Indebtedness has been discharged or paid in full in cash or Cash Equivalents or (z) such Payment Blockage Period shall have been terminated by written notice to the Trustee from an authorized representative of the holders of Designated Senior Indebtedness initiating such Payment Blockage Period or from the holders of at least a majority in principal amount of such Designated Senior Indebtedness), after which, in the case of clause (w), (x), (y) or (z), the Company shall resume making any and all required payments in respect of the Securities, including any missed payments. Notwithstanding any other provision of this Indenture, in no event shall a Payment Blockage Period extend beyond 179 days from the date of the receipt by the Trustee of the notice referred to in clause (ii) above (the “Initial Blockage Period”). No more than one Payment Blockage Period may be commenced during any period of 365 consecutive days. Notwithstanding any other provision of this Indenture, no event of default with respect to the principal Designated Senior Indebtedness which existed or interest was continuing on the Senior Subordinated Securities or date of the commencement of any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until Payment Blockage Period initiated by an authorized representative of the holders of all Designated Senior Indebtedness outstanding at the time of for such acceleration shall receive payment, in full, of all amounts due on or in respect of such Designated Senior Indebtedness (including any amounts due upon acceleration)shall be, or be made, the basis for the commencement of a second Payment Blockage Period for such Designated Senior Indebtedness, whether or not within the Initial Blockage Period, unless such event of default shall have been cured or waived for a period of not less than 90 consecutive days. (c) In the event that, notwithstanding the foregoingforegoing provisions of this Section, the Company shall make any payment to the Trustee (which is received by any Holder not paid over to Holders of a Senior Subordinated Security, when such payment is Securities) prohibited by the preceding paragraphs foregoing provisions of this Section 7.2Section, then and in such event such payment shall be paid over to the authorized representatives of such Designated Senior Indebtedness initiating the Payment Blockage Period, to be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities distribution to the holders of Senior Indebtedness or their respective representativesor, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts are not then due in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union in writing within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice promptly returned to the Credit Union Company, or otherwise as a court of competent jurisdiction shall be paid to the holders of such Senior Indebtednessdirect. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed Trustee shall not be liable for any interest on behalf of the Credit Union any money received by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified thereinit.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default Default by the Credit Union Company in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, or in the event that the maturity of any Senior Indebtedness has been accelerated because of an Event of Default, or if any judicial proceeding shall be pending with respect to any such Default, then, in any such case, no payment shall be made by the Credit Union Company with respect to the principal (including redemption payments) of or interest (including contingent interest) on the Senior Subordinated Securities Debentures or any other amounts which may be due on the Senior Subordinated Securities Debentures pursuant to the terms hereof or thereof. (b) otherwise. In the event of the acceleration of the maturity of the Senior IndebtednessDebentures, then no payment shall be made by the Credit Union Company with respect to the principal (including redemption payments) or interest (including contingent interest) on the Senior Subordinated Securities Debentures or any other amounts which may be due on the Senior Subordinated Securities Debentures pursuant to the terms hereof or thereof otherwise until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, payment in full, of all amounts due on or in respect full of such Senior Indebtedness (including any amounts due upon acceleration). (c) . In the event that, notwithstanding the foregoing, any payment is shall be received by any Holder the Trustee or Holders of a Senior Subordinated Security, Debentures when such payment is prohibited by the preceding paragraphs of this Section 7.25.02 and at a time when a Responsible Officer of the Trustee or such Holder has actual knowledge that such payment should not have been made to it, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to to, the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Trustee in writing within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In Upon any Senior Indebtedness becoming due and payable, whether at the event stated maturity thereof or by acceleration or otherwise, such Senior Indebtedness shall first be irrevocably and during indefeasibly paid in full in cash, or the continuation immediate payment thereof duly provided for in cash, before the Company or any Person acting on behalf of the Company shall directly or indirectly pay, prepay, redeem, retire, repurchase or otherwise acquire for value, or make any default by deposit pursuant to Article 8 in respect of, or make any other prepayment, payment or distribution (whether in cash, property, securities or a combination thereof or otherwise) on account of the Credit Union in the payment principal of principal, (or premium, interest or any other payment due on any Senior Indebtedness, no payment shall be made by the Credit Union with respect to the principal if any) or interest on the Senior on, any Subordinated Debt Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof(each, a "SECURITY PAYMENT"). (b) In the event If there exists a default in payment of the acceleration all or any portion of the maturity any principal of the (and premium, if any) and interest and fees, expenses, costs and other obligations on Senior Indebtedness, then no payment and (i) such default shall be made not have been cured or waived in writing or the benefits of this sentence waived in writing by the Credit Union with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until behalf of the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts due on or in respect of such Senior Indebtedness or (including ii) any amounts due upon acceleration)judicial proceeding shall be pending with respect to any such default, then no Security Payment shall be made. (c) In addition, during the continuance of any event that, notwithstanding the foregoing, any payment is received by any Holder of default (other than a Senior Subordinated Security, when such payment is prohibited by the preceding paragraphs default referred to in subsection (b) of this Section 7.210.03) with respect to any Specified Senior Indebtedness, as such payment shall be held event of default is defined therein or in trust for the benefit ofinstrument under which such Specified Senior Indebtedness is outstanding, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to permitting the holders of such Specified Senior Indebtedness to accelerate the maturity thereof under the terms of such Specified Senior Indebtedness, and upon written notice of such event of default given by the Principal Agent to the Trustee, with a copy to the Company (the delivery of such shall not affect the validity of the notice to the Trustee), then, unless and until such event of default shall have been cured or their respective representativeswaived or shall have ceased to exist, no Security Payment shall be made; provided, that if the holders of the Specified Senior Indebtedness to which the default relates have not declared such Specified Senior Indebtedness to be immediately due and payable within 179 days after the occurrence of such default (or have declared such Specified Senior Indebtedness to be immediately due and payable and within such period have rescinded such declaration of acceleration), then, subject to the provisions of Section 10.02 and 10.03(a), the Company shall resume making any and all unpaid scheduled Security Payments. Any period during which any Security Payment is prohibited pursuant to the immediately preceding sentence is referred to in this Article as a "PAYMENT BLOCKAGE PERIOD." Notwithstanding any other provisions of this Article or any other provision of this Indenture, in no event shall a payment blockage period under this Article extend beyond 179 days from the date on which such payment blockage period commenced. Not more than one payment blockage period may be commenced within any consecutive 365-day period with respect to the Subordinated Debt Securities. For all purposes of this Article, no event of default that existed or was continuing on the date of the commencement of any payment blockage period with respect to the Specified Senior Indebtedness initiating such payment blockage period shall be, or be made, the basis for the commencement of a second payment blockage period by the holder or holders of such Specified Senior Indebtedness at any time after the 365-day period referred to in the previous sentence unless such event of default shall have been cured or waived for a period of not less than 90 consecutive days. (d) The Company covenants that it will, upon request of the Trustee, deliver an Officers' Certificate (with copies thereof to the trustee or trustees under any indenture pursuant to which any Representative of each class of Senior Indebtedness) showing in reasonable detail the Senior Indebtedness outstanding as of the date of such Officers' Certificate and the Representative of each class of Senior Indebtedness Indebtedness. The Trustee may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and conclusively rely thereon except to the extent that it shall have received, from the holders Representative of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union in writing within 90 days any class of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified notice in such notice to the Credit Union shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf writing controverting any of the Credit Union by a statements made therein. Not less than 10 days prior to making any distribution in respect of Senior Executive Officer certifying that Indebtedness pursuant to this Section, the information set forth in such notice is true and correct and confirming that the Holder Trustee shall deliver to each Representative of any class of Senior Indebtedness copies of the Senior Subordinated Securities should pay or deliver most recent Officers' Certificate filed with it by the amounts specified in such notice in the manner specified thereinCompany pursuant to this subsection (d).

Default on Senior Indebtedness. No payment (aby set-off or otherwise) In may be made by or on behalf of the Company or a Guarantor, as applicable, on account of any Obligation in respect of the Notes, including the principal of, premium, if any, or interest on the Notes (including any repurchases of Notes), or on account of the redemption provisions of the Notes for cash or property (other than Junior Securities), (i) upon the maturity of any Senior Indebtedness of the Company or such Guarantor by lapse of time, acceleration (unless waived) or otherwise, unless and until all principal of, premium, if any, and the interest on such Senior Indebtedness are first paid in full in cash or Cash Equivalents (or such payment is duly provided for) or otherwise to the extent holders accept satisfaction of amounts due by settlement in other than cash or Cash Equivalents, or (ii) in the event and during the continuation of any default by the Credit Union in the payment of principalany principal of, premium, interest or any other payment due on any Senior Indebtednessif any, no payment shall be made by the Credit Union with respect to the principal or interest on Senior Indebtedness of the Senior Subordinated Securities Company or any other amounts which may be such Guarantor when it becomes due on and payable, whether at maturity or at a date fixed for prepayment or by declaration or otherwise (a "Payment Default"), unless and until such Payment Default has been cured or waived or otherwise has ceased to exist. Upon (i) the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) In the happening of an event of the acceleration of the maturity of the Senior Indebtedness, then no payment shall be made by the Credit Union with respect to the principal or interest on the Senior Subordinated Securities or any default other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) In the event that, notwithstanding the foregoing, any payment is received by any Holder of than a Senior Subordinated Security, when such payment is prohibited by the preceding paragraphs of this Section 7.2, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to Payment Default that permits the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of declare such Senior Indebtedness may have been issued, as their respective interests may appear, but only to be due and payable and (ii) written notice of such event of default given to the extent Company and the Trustee by the holders of an aggregate of at least $10.0 million principal amount outstanding of any Senior Indebtedness or their Representative (a "Payment Notice"), then, unless and until such event of default has been cured or waived or otherwise has ceased to exist, no payment (by set-off or otherwise) may be made by or on behalf of the amounts Company or any Guarantor which is an obligor under such Senior Indebtedness on account of any Obligation in respect of the Notes, including the principal of, premium, if any, or interest on the Notes, (including any repurchases of any of the Notes), or on account of the redemption provisions of the Notes, in any such Senior Indebtedness and to case, other than payments made with Junior Securities. Notwithstanding the extent that the holders of foregoing, unless the Senior Indebtedness in respect of which such event of default exists has been declared due and payable in its entirety within 179 days after the Payment Notice is delivered as set forth above (the "Payment Blockage Period") (and such declaration has not been rescinded or their representative or representatives or a trustee) notify waived), at the Credit Union in writing within 90 days of such payment end of the amounts then due Payment Blockage Period, the Company and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union Guarantors shall be required to pay all sums not paid to the holders of such Senior Indebtednessthe Notes during the Payment Blockage Period due to the foregoing prohibitions and to resume all other payments as and when due on the Notes. The Credit Union shallAny number of Payment Notices may be given; provided, within ten (10) business days of receipt of such noticehowever, provide Investor with that (i) not more than one Payment Notice shall be given within a copy period of such notice delivered to the Credit Union any 360 consecutive days, and (ii) no default that existed upon the date of such Payment Notice or the commencement of such Payment Blockage Period (whether or not such event of default is on the same issue of Senior Indebtedness) shall be made the basis for the commencement of any other Payment Blockage Period (it being acknowledged that any subsequent action, or any subsequent breach of any financial covenant for a certificate signed on behalf period commencing after the expiration of the Credit Union by such Payment Blockage Period that, in either case, would give rise to a Senior Executive Officer certifying new event of default, even though it is an event that the information set forth in such notice is true and correct and confirming that the Holder would also have been a separate breach pursuant to any provision under which a prior event of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified thereindefault previously existed, shall constitute a new event of default for this purpose).

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Company in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, in the event that any applicable grace period with respect to such default has ended and such default has not been cured or waived or ceased to exist, or in the event that the maturity of any Senior Indebtedness has been accelerated because of a default, then, in any of these cases, no payment shall be made by the Credit Union Company with respect to the principal (including redemption payments) of or premium, if any, or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) Securities. In the event of the acceleration of the maturity of the Senior IndebtednessSecurities, then no payment shall be made by the Credit Union Company with respect to the principal (including redemption payments) of or premium, if any, or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, payment in full, of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) . In the event that, notwithstanding the foregoing, any payment is shall be received by any Holder of a Senior Subordinated Security, the Trustee when such payment is prohibited by the preceding paragraphs of this Section 7.215.02, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to to, the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Trustee in writing writing, within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, Indebtedness and only the amounts specified in such notice to the Credit Union Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. If any portion or all of the Senior Indebtedness shall be declared due and payable, then, (a) In the event so long as such Senior Indebtedness remains due and during the continuation of any default payable, no amount shall be paid by the Credit Union Company in respect of the outstanding principal balance of this Note or accrued but unpaid interest on this Note, unless and until the portion of the Senior Indebtedness then due and payable shall be paid in full, and (b) no claim or proof of claim shall be filed with the Company by or on behalf of Xxxxxx of this Note by a Majority of the Noteholders, that shall assert any right to receive any payments in respect of the outstanding principal balance and accrued but unpaid interest on this Note, except subject to the payment in full of principal, premium, the principal of and accrued but unpaid interest or any other payment due on all of the Senior Indebtedness then outstanding. If there occurs an event of default that has been declared in writing with respect to any Senior Indebtedness, or in the instrument under which any Senior Indebtedness is outstanding, permitting the holder of such Senior Indebtedness to accelerate the maturity thereof, then, the Company shall immediately notify Holder in writing, and unless and until such event of default shall have been cured or waived or shall have ceased to exist, or all Senior Indebtedness then due and payable shall have been paid in full, no payment shall be made by in respect of the Credit Union with respect to the outstanding principal balance or accrued but unpaid interest on this Note, unless within thirty (30) days after the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) In the happening of such event of the acceleration of default, the maturity of the Senior Indebtedness, then no payment shall be made by the Credit Union with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) In the event that, notwithstanding the foregoing, any payment is received by any Holder of a Senior Subordinated Security, when such payment is prohibited by the preceding paragraphs of this Section 7.2, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may not have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union in writing within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified thereinaccelerated.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Corporation in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, or in the event that the maturity of any Senior Indebtedness has been accelerated because of a default and such acceleration has not been rescinded or canceled, then, in either case, no payment shall be made by the Credit Union Corporation with respect to the principal (including prepayment payments) of or interest on the Senior Subordinated Securities (including Compounded Interest and Additional Sums, if any, or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) ). In the event of the acceleration of the maturity of the Senior IndebtednessSecurities, then no payment shall be made by the Credit Union Corporation with respect to the principal (including prepayment payments) of or interest on the Senior Subordinated Securities (including Compounded Interest and Additional Sums, if any, or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof thereof) until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts Allocable Amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) . In the event that, notwithstanding the foregoing, any payment is received by the Debenture Trustee, or any Holder of a Senior Subordinated SecuritySecurityholder, when such payment is prohibited by the preceding paragraphs of this Section 7.215.02, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of Debenture Trustee (if the Senior Subordinated Securities Notice requested by Section 15.06 has been received by the Debenture Trustee) or by any Securityholder, to the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts Allocable Amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Debenture Trustee in writing within 90 days of such payment of the amounts Allocable Amounts then due and owing on such Senior Indebtedness, and only the amounts Allocable Amounts specified in such notice to the Credit Union Debenture Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Company in the payment of principal, premium, if any, interest or any other payment due on any Senior IndebtednessIndebtedness of the Company, as the case may be, and any applicable grace period relating to such default has ended and such default has not been cured or waived or ceased to exist, or in the event that the maturity of any Senior Indebtedness of the Company, as the case may be, has been accelerated because of a default, then, in either case, no payment shall be made by the Credit Union Company with respect to the principal (including redemption payments) of, or premium, if any, or interest on on, the Senior Subordinated Securities or to acquire any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) In the event of the acceleration of the maturity of the Senior IndebtednessSecurities (except sinking fund payments, then no payment shall be if any, made in Securities acquired by the Credit Union with respect Company prior to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon accelerationdefault). (c) . In the event that, notwithstanding the foregoing, any payment is shall be received by the Trustee, by any Holder of a Senior Subordinated Securityor by any Paying Agent (or, if the Company is acting as its own Paying Agent, money for any such payment is segregated and held in trust) when such payment is prohibited by the preceding paragraphs paragraph of this Section 7.214.2, before all Senior Indebtedness of the Company is paid in full, or provision is made for such payment in money in accordance with its terms, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to to, the holders of Senior Indebtedness of the Company or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only ratably according to the aggregate amount remaining unpaid on account of the principal, premium, interest or any other payment due on the Senior Indebtedness held or represented by each, for application to the payment of all Senior Indebtedness of the Company, as the case may be, remaining unpaid to the extent necessary to pay such Senior Indebtedness in full in money in accordance with its terms, after giving effect to any concurrent payment or distribution to or for the benefit of the amounts in respect holders of such Senior Indebtedness and Indebtedness, but only to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Trustee in writing within 90 days of such payment of the amounts then due and owing on such the Senior Indebtedness, Indebtedness and only the amounts specified in such notice to the Credit Union Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Company in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, or in the event that the maturity of any Senior Indebtedness has been accelerated because of a default, then, in either case, no payment shall be made by the Credit Union Company with respect to the principal (including prepayment) of or premium, if any, or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) Securities. In the event of the acceleration of the maturity of the Senior IndebtednessSecurities, then no payment shall be made by the Credit Union Company with respect to the principal (including prepayments) of or premium, if any, or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, payment in full, full of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) . In the event that, notwithstanding the foregoing, any payment is shall be received by any Holder of a Senior Subordinated Security, the Trustee when such payment is prohibited by the preceding paragraphs paragraph of this Section 7.215.02, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to to, the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts due in respect of such Senior Indebtedness and only to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Trustee in writing writing, within 90 days of such payment payment, of the amounts then due and owing on such Senior Indebtedness, Indebtedness and only the amounts specified in such notice to the Credit Union Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In Unless Section 10.02 shall be applicable, upon (i) the event occurrence of a Payment Default and during the continuation of any default (ii) receipt by the Credit Union in Trustee from the payment Company or a holder of principal, premium, interest or any other payment due on any Senior IndebtednessIndebtedness of written notice of such occurrence, no payment (other than any payments made pursuant to the provisions contained in Section 8.03 from monies or Government Securities previously deposited with the Trustee) or distribution of any assets of the Company of any kind or character from any source, whether in cash, property or securities (other than Permitted Junior Securities), shall be made by the Credit Union with Company including by way of set-off or enforcement of any guarantee or otherwise, on account of the Securities Obligations or on account of the purchase, redemption, deposit for defeasance or other acquisition of Securities unless and until such Payment Default shall have been cured or waived in writing or shall have ceased to exist or such Senior Indebtedness shall have been discharged or paid in full in cash or Cash Equivalents, after which the Company shall resume making any and all required payments in respect to of the principal or interest on the Senior Subordinated Securities or Securities, including any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereofmissed payments. (b) In Unless Section 10.02 shall be applicable, upon (i) the event occurrence of a Non-Payment Default and (ii) receipt by the Trustee from an authorized representative of the acceleration holders of the maturity Designated Senior Indebtedness of the Senior Indebtednesswritten notice of such occurrence, then no payment (other than any payments made pursuant to the provisions contained in Section 8.03 from monies or Government Securities previously deposited with the Trustee) or distribution of any assets of the Company of any kind or character from any source, whether in cash, property or securities (other than Permitted Junior Securities), shall be made by the Credit Union Company including by way of set-off or enforcement of any guarantee or otherwise, on account of the Securities Obligations or on account of the purchase, redemption, deposit for defeasance or other acquisition of Securities for a period (the “Payment Blockage Period”) commencing on the date of receipt by the Trustee of such notice from an authorized representative of the holders of Designated Senior Indebtedness or the Company at the direction of such representative unless and until (subject to any blockage of payments that may then be in effect under subsection (a) of this Section) (w) more than 179 days shall have elapsed since receipt of such written notice by the Trustee, (x) the date on which such Non-Payment Default shall have been cured or waived in writing or shall have ceased to exist, (y) the date on which such Designated Senior Indebtedness has been discharged or paid in full in cash or Cash Equivalents or (z) the date on which such Payment Blockage Period shall have been terminated by written notice to the Trustee from an authorized representative of the holders of Designated Senior Indebtedness initiating such Payment Blockage Period or from the holders of at least a majority in principal amount of such Designated Senior Indebtedness), after which, in the case of clause (w), (x), (y) or (z), the Company shall resume making any and all required payments in respect of the Securities, including any missed payments. Notwithstanding any other provision of this Indenture, in no event shall a Payment Blockage Period extend beyond 179 days from the date of the receipt by the Trustee of the notice referred to in clause (ii) above (the “Initial Blockage Period”). No more than one Payment Blockage Period may be commenced during any period of 365 consecutive days. Notwithstanding any other provision of this Indenture, no event of default with respect to the principal Designated Senior Indebtedness which existed or interest was continuing on the Senior Subordinated Securities or date of the commencement of any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until Payment Blockage Period initiated by an authorized representative of the holders of all Designated Senior Indebtedness outstanding at the time of for such acceleration shall receive payment, in full, of all amounts due on or in respect of such Designated Senior Indebtedness (including any amounts due upon acceleration)shall be, or be made, the basis for the commencement of a second Payment Blockage Period for such Designated Senior Indebtedness, whether or not within the Initial Blockage Period, unless such event of default shall have been cured or waived for a period of not less than 90 consecutive days. (c) In the event that, notwithstanding the foregoingforegoing provisions of this Section, the Company shall make any payment to the Trustee (which is received by any Holder not paid over to Holders of a Senior Subordinated Security, when such payment is Securities) prohibited by the preceding paragraphs foregoing provisions of this Section 7.2Section, then and in such event such payment shall be paid over to the authorized representatives of such Designated Senior Indebtedness initiating the Payment Blockage Period, to be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities distribution to the holders of Senior Indebtedness or their respective representativesor, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts are not then due in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union in writing within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice promptly returned to the Credit Union Company, or otherwise as a court of competent jurisdiction shall be paid to the holders of such Senior Indebtednessdirect. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed Trustee shall not be liable for any interest on behalf of the Credit Union any money received by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified thereinit.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Company in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, or in the event that the maturity of any Senior Indebtedness has been accelerated because of a default, then, in either case, no payment shall be made by the Credit Union Company with respect to the principal (including redemption payments) of, premium, if any, or interest on the Senior Subordinated Debt Securities of any series or any other amounts which may be due on the Senior Subordinated such Debt Securities pursuant to the terms hereof or thereof. (b) otherwise). In the event of the acceleration of the maturity of the Senior IndebtednessDebt Securities of any series, then no payment shall be made by the Credit Union Company with respect to the principal (including redemption payments) of, premium, if any, or interest on the Senior Subordinated such Debt Securities or (including any other amounts which may be due on the Senior Subordinated such Debt Securities pursuant to the terms hereof or thereof otherwise) until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, payment in full, of all amounts due on or in respect full of such Senior Indebtedness (including any amounts due upon acceleration). (c) . In the event that, notwithstanding the foregoing, any payment is shall be received by any Holder of a Senior Subordinated Security, the Debt Trustee when such payment is prohibited by the preceding paragraphs of this Section 7.215.02, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to to, the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Debt Trustee in writing within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union Debt Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In No payment may be made of the event and during principal of, premium, if any, or interest on the continuation Surplus Notes, or in respect of any default by redemption, retirement, purchase or other acquisition of any of the Credit Union Surplus Notes, at any time when (i) there is a default, after giving effect to any applicable grace period, in the payment of principalthe principal of, premium, if any, interest on or any other payment due on otherwise in respect of any Senior Indebtedness, no payment shall be made whether at maturity or at a date fixed for prepayment or by the Credit Union with respect to the principal declaration or interest on the Senior Subordinated Securities otherwise, or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (bii) In the event of the acceleration of the maturity of the Senior Indebtedness, then no payment shall be made by the Credit Union with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at of the time Company has been accelerated because of a default and such acceleration shall receive payment, in full, of all amounts due on has not been rescinded or in respect of canceled and such Senior Indebtedness (including any amounts due upon acceleration). (c) has not been paid in full. In the event that, notwithstanding the foregoing, any payment is shall be received by any Holder of a Senior Subordinated Security, the Trustee when such payment is prohibited by the preceding paragraphs paragraph of this Section 7.215.02, such payment shall be held in trust by Trustee (to the extent such payment has not aready been released to the Holders of the Surplus Notes) and by the Holders of the Surplus Notes for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to to, the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Trustee in writing within 90 days of such payment of the amounts then due and owing on such the Senior Indebtedness, Indebtedness and only the amounts specified in such notice to the Credit Union Holders of the Surplus Notes and the Trustee shall be paid by the Holders of the Surplus Notes to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Company in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, no payment shall be made by the Credit Union Company with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) In the event of the acceleration of the maturity of the Senior Indebtedness, then no payment shall be made by the Credit Union Company with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) In the event that, notwithstanding the foregoing, any payment is received by any Holder of a Senior Subordinated Security, when such payment is prohibited by the preceding paragraphs of this Section 7.26.2, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Company in writing within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union Company shall be paid to the holders of such Senior Indebtedness. The Credit Union Company shall, within ten (10) business days of receipt of such notice, provide Investor with with (i) a copy of such notice delivered to the Credit Union Company and (ii) a certificate signed on behalf of the Credit Union Company by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Company in the payment of principal, premium, interest or any other payment due on any Senior IndebtednessIndebtedness of the Company, as the case may be, or in the event that the maturity of any Senior Indebtedness of the Company, as the case may be, has been accelerated because of a default, then, in either case, no payment shall be made by the Credit Union Company with respect to the principal (including redemption payments) of, or premium, if any, or interest on or Additional Amounts on, the Senior Subordinated Securities or to acquire any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) In the event of the acceleration of the maturity of the Senior Indebtedness, then no payment shall be Securities (except sinking fund payments made by the Credit Union with respect to Securities acquired by the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant Company prior to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon accelerationdefault). (c) . In the event that, notwithstanding the foregoing, any payment is shall be received by the Trustee, by any Holder of a Senior Subordinated Securityor by any Paying Agent (or, if the Company is acting as its own Paying Agent, money for any such payment is segregated and held in trust) when such payment is prohibited by the preceding paragraphs paragraph of this Section 7.21502, before all Senior Indebtedness of the Company is paid in full, or provision is made for such payment in money in accordance with its terms, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to to, the holders of Senior Indebtedness of the Company or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only ratably according to the aggregate amount remaining unpaid on account of the principal, premium, interest or any other payment due on the Senior Indebtedness held or represented by each, for application to the payment of all Senior Indebtedness of the Company remaining unpaid to the extent necessary to pay such Senior Indebtedness in full in money in accordance with its terms, after giving effect to any concurrent payment or distribution to or for the benefit of the amounts in respect holders of such Senior Indebtedness and Indebtedness, but only to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Trustee in writing within 90 days of such payment of the amounts then due and owing on such the Senior Indebtedness, Indebtedness and only the amounts specified in such notice to the Credit Union Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Company in the payment of principal, premium, interest or any other payment due on any Senior IndebtednessIndebtedness of the Company, in the event that any applicable grace period with respect to such default has ended and such default has not been cured or waived or ceased to exist, or in the event that the maturity of any Senior Indebtedness has been accelerated because of a default, then, in any of these cases, no payment shall be made by the Credit Union Company with respect to the principal (including redemption payments) of or premium, if any, or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) Securities. In the event of the acceleration of the maturity of the Senior IndebtednessSecurities, then no payment shall be made by the Credit Union Company with respect to the principal (including redemption payments) of or premium, if any, or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, payment in full, of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) . In the event that, notwithstanding the foregoing, any payment is shall be received by any Holder of a Senior Subordinated Security, the Trustee when such payment is prohibited by the preceding paragraphs of this Section 7.215.02, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to to, the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Trustee in writing writing, within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, Indebtedness and only the amounts specified in such notice to the Credit Union Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Corporation in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, or in the event that the maturity of any Senior Indebtedness has been accelerated because of a default, then, in either case, no payment shall be made by the Credit Union Corporation with respect to the principal (including prepayment payments) of (or premium, if any) or interest on the Senior Subordinated Securities (including Compounded Interest and Additional Sums, if any, or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) ). In the event of the acceleration of the maturity of the Senior IndebtednessSecurities, then no payment shall be made by the Credit Union Corporation with respect to the principal (including prepayment payments) of (or premium, if any) or interest on the Senior Subordinated Securities (including Compounded Interest and Additional Sums, if any, or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof thereof) until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) . In the event that, notwithstanding the foregoing, any payment is received by the Debenture Trustee, or any Holder of a Senior Subordinated SecuritySecurityholder, when such payment is prohibited by the preceding paragraphs of this Section 7.215.02, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of Debenture Trustee (if the Senior Subordinated Securities Notice requested by Section 15.06 has been received by the Debenture Trustee) or by any Securityholder, to the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Debenture Trustee in writing within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union Debenture Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, no payment shall be made by the Credit Union with respect to the principal or interest on the Senior Subordinated Securities Debt or any other amounts which may be due on the Senior Subordinated Securities Debt pursuant to the terms hereof or thereof. (b) In the event of the acceleration of the maturity of the Senior Indebtedness, then no payment shall be made by the Credit Union with respect to the principal or interest on the Senior Subordinated Securities Debt or any other amounts which may be due on the Senior Subordinated Securities Debt pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) In the event that, notwithstanding the foregoing, any payment is received by any Holder of a Senior Subordinated Security, when such payment is prohibited by the preceding paragraphs of this Section 7.2, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities Security to the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union in writing within 90 ninety (90) days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.ten

Default on Senior Indebtedness. (a) In Upon any Senior Indebtedness becoming due and payable, whether at the event stated maturity thereof or by acceleration or otherwise, such Senior Indebtedness shall first be irrevocably and during indefeasibly paid in full in cash, or the continuation immediate payment thereof duly provided for in cash, before the Company or any Person acting on behalf of the Company shall directly or indirectly pay, prepay, redeem, retire, repurchase or otherwise acquire for value, or make any default by deposit pursuant to Article 8 in respect of, or make any other prepayment, payment or distribution (whether in cash, property, securities or a combination thereof or otherwise) on account of the Credit Union in the payment principal of principal, (or premium, interest or any other payment due on any Senior Indebtedness, no payment shall be made by the Credit Union with respect to the principal if any) or interest on the Senior Subordinated on, any Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof(each, a "Security Payment"). (b) In No Security Payment shall be made if, at the event time of the acceleration such Security Payment there exists a default in payment of the maturity all or any portion of the any principal of (and premium, if any) and interest and fees, expenses, costs and other obligations on Senior Indebtedness, then and such default shall not have been cured or waived in writing or the benefits of this sentence waived in writing by or on behalf of the holders of such Senior Indebtedness. (c) In addition, during the continuance of any event of default (other than a default referred to in subsection (b) of this Section 10.03) with respect to any Specified Senior Indebtedness, as such event of default is defined therein or in the instrument under which such Specified Senior Indebtedness is outstanding, permitting the holders of such Specified Senior Indebtedness to accelerate the maturity thereof under the terms of such Specified Senior Indebtedness, and upon written notice of such event of default given by the Principal Agent to the Trustee, with a copy to the Company (the delivery of such shall not affect the validity of the notice to the Trustee), then, unless and until such event of default shall have been cured or waived or shall have ceased to exist, no payment Security Payment shall be made by made; provided, that if the Credit Union holders of the Specified Senior Indebtedness to which the default relates have not declared such Specified Senior Indebtedness to be immediately due and payable within 179 days after the occurrence of such default (or have declared such Specified Senior Indebtedness to be immediately due and payable and within such period have rescinded such declaration of acceleration), then, subject to the provisions of Section 10.02 and 10.03(a), the Company shall resume making any and all unpaid scheduled Security Payments. Any period during which any Security Payment is prohibited pursuant to the immediately preceding sentence is referred to in this Article as a "payment blockage period." Notwithstanding any other provisions of this Article or any other provision of this Indenture, in no event shall a payment blockage period under this Article extend beyond 179 days from the date on which such payment blockage period commenced. Not more than one payment blockage period may be commenced within any consecutive 365-day period with respect to the principal Securities. For all purposes of this Article, no event of default that existed or interest was continuing on the date of the commencement of any payment blockage period with respect to the Specified Senior Subordinated Securities Indebtedness initialing such payment blockage period shall be, or be made, the basis for the commencement of a second payment blockage period by the holder or holders of such Specified Senior Indebtedness at any other amounts which may be due on time after the 365-day period referred to in the previous sentence unless such event of default shall have been cured or waived for a period of not less than 90 consecutive days. (d) The Company covenants that it will, upon request of the Trustee, deliver an Officers' Certificate (with copies thereof to the Representative of each class of Senior Indebtedness) showing in reasonable detail the Senior Subordinated Securities Indebtedness outstanding as of the date of such Officers' Certificate and the Representative of each class of Senior Indebtedness. The Trustee may conclusively rely thereon except to the extent that it shall have received, from the Representative of any class of Senior Indebtedness, notice in writing controverting any of the statements made therein. Not less than 10 days prior to making any distribution in respect of Senior Indebtedness pursuant to this Section, the terms hereof or thereof until Trustee shall deliver to each Representative of any class of Senior Indebtedness copies of the most recent Officers' Certificate filed with it by the Company pursuant to this subsection (d). (e) In the event that the Securities are declared due and payable before their Stated Maturity in accordance with Article 6, then and in such event the holders of all Senior Indebtedness outstanding at the time of such acceleration the Securities so become due and payable shall be entitled to receive payment, payment in full, full in cash of all amounts due or to become due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) In the whether or not an event that, notwithstanding the foregoing, any payment is received by any Holder of a Senior Subordinated Security, when such payment is prohibited by the preceding paragraphs of this Section 7.2, such payment shall be held in trust for the benefit of, and shall be paid over default has occurred thereunder or delivered by the Holder of the Senior Subordinated Securities to the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have is, or has been issueddeclared to be, as their respective interests may appear, but only due and payable prior to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union in writing within 90 days of such payment of the amounts then date on which it otherwise would have become due and owing on such Senior Indebtedness, and only payable) before the amounts specified in such notice to the Credit Union Holders shall be paid entitled to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified thereinreceive any Security Payment.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union in the No payment of principalprincipal (including prepayment payments) of, premium, interest or any other payment due on any Senior Indebtednessif any, no payment shall be made by the Credit Union with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on made at any time when (i) any Senior Indebtedness is not paid when due, (ii) any applicable grace period with respect to such default has ended and such default has not been cured or waived or ceased to exist, or (iii) the maturity of any Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) Indebtedness has been accelerated because of a default. In the event of the acceleration of the maturity of the Senior IndebtednessSecurities, then no payment shall be made by the Credit Union Company with respect to the principal (including prepayment payments) of or premium, if any, or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, payment in full, full of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) . In the event that, notwithstanding the foregoing, any payment is shall be received by any Holder of a Senior Subordinated Security, the Trustee when such payment is prohibited by the preceding paragraphs of this Section 7.215.02, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to to, the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Trustee in writing writing, within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, Indebt edness and only the amounts specified in such notice to the Credit Union Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Company in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, or in the event that the maturity of any Senior Indebtedness has been accelerated because of a default, then, in either case, no payment shall be made by the Credit Union Company with respect to the principal (including redemption payments) of, premium, if any, or interest on the Senior Subordinated Securities Debentures of any series or any other amounts which may be due on the Senior Subordinated Securities such Debentures pursuant to the terms hereof or thereof. (b) In the event of the acceleration of the maturity of the Senior Indebtedness, then no payment shall be made by the Credit Union with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof otherwise until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, payment in full, of all amounts due on or in respect full of such Senior Indebtedness (including any amounts due upon acceleration). . In the event of the acceleration of the maturity of the Debentures of any series, then no payment shall be made by the Company with respect to the principal (cincluding redemption payments) of, premium, if any, or interest on such Debentures (including any other amounts which may be due on such Debentures pursuant to the terms hereof or otherwise) until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment in full of such Senior Indebtedness (including any amounts due upon acceleration). In the event that, notwithstanding the foregoing, any payment is shall be received by the Trustee or any Holder of a Senior Subordinated Security, when such payment is prohibited by the preceding paragraphs of this Section 7.215.02, such payment shall be held in trust for the benefit of, and shall be paid over or delivered delivered, by the Holder of Trustee (if the Senior Subordinated Securities Notice required by Section 15.06 has been received by the Trustee) or by the Holder, to the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Trustee in writing within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Company in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, or in the event that the maturity of any Senior Indebtedness has been accelerated because of a default, then, in either case, no payment shall be made by the Credit Union Company with respect to the principal (including redemption payments) of or premium, if any, or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) Securities. In the event of the acceleration of the maturity of the Senior IndebtednessSecurities, then no payment shall be made by the Credit Union Company with respect to the principal (including redemption payments) of or premium, if any, or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, payment in full, full (or amounts sufficient to make such payment have been irrevocably deposited or placed in trust for the sole benefit of all amounts due on or in respect the Senior Indebtedness) of such Senior Indebtedness (including any amounts due upon acceleration). (c) . In the event that, notwithstanding the foregoing, any payment is shall be received by any Holder of a Senior Subordinated Security, the Trustee when such payment is prohibited by the preceding paragraphs of this Section 7.215.02, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to to, the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Trustee in writing writing, within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, Indebtedness and only the amounts specified in such notice to the Credit Union Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Company in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, or in the event that the maturity of any Senior Indebtedness has been accelerated because of a default, then, in either case, no payment shall be made by the Credit Union Company with respect to the principal (including redemption payments) of or premium, if any, or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) Securities. In the event of the acceleration of the maturity of the Senior IndebtednessSecurities, then no payment shall be made by the Credit Union Company with respect to the principal (including redemption payments) of or premium, if any, or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, payment in full, full of all amounts Allocable Amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) . In the event that, notwithstanding the foregoing, any payment is shall be received by any Holder of a Senior Subordinated Security, the Trustee when such payment is prohibited by the preceding paragraphs of this Section 7.215.02, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to to, the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees trust- ees under any indenture pursuant to which any of such Senior Indebtedness In- debtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts Allocable Amounts in respect of such Senior Indebtedness and only to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Trustee in writing writing, within 90 days of such payment of the amounts Allocable Amounts then due and owing on such Senior Indebtedness, Indebtedness and only the amounts Allocable Amounts specified in such notice to the Credit Union Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. If there should occur any receivership, insolvency, assignment for the benefit of creditors, bankruptcy, reorganization or arrangements with creditors (awhether or not pursuant to bankruptcy or other insolvency laws) In sale of all or substantially all of the event and during the continuation of any default by the Credit Union in the payment of principalassets, premiumdissolution, interest liquidation or any other payment marshaling of the assets and liabilities of the Company, or if this Note shall be declared due on and payable upon the occurrence of an event of default with respect to any Senior Indebtedness, then (i) no amount shall be paid by the Company in respect of the principal of or interest on this Note at the time outstanding, unless and until the principal of and interest on the Senior Indebtedness then outstanding shall be paid in full, except that the Lender shall have the right to proceed against and receive the Securities pledged by the Company as security for this Note pursuant to the Security Agreement between the Company and the Lender dated as of the same date as this Note, and (ii) no claim or proof of claim shall be filed with the Company by or on behalf of the Holder of this Note that shall assert any right to receive any payments in respect of the principal of and interest on this Note, except subject to the payment in full of the principal of and interest on all of the Senior Indebtedness then outstanding. If there occurs an event of default that has been declared in writing with respect to any Senior Indebtedness, or in the instrument under which any Senior Indebtedness is outstanding, permitting the lender of such Senior Indebtedness to accelerate the maturity thereof, then, unless and until such event of default shall have been cured or waived or shall have ceased to exist, or all Senior Indebtedness shall have been paid in full, no payment shall be made by the Credit Union with in respect to of the principal of or interest on this Note, unless within 90 days after the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) In the happening of such event of the acceleration of default, the maturity of the Senior Indebtedness, then no payment shall be made by the Credit Union with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) In the event that, notwithstanding the foregoing, any payment is received by any Holder of a Senior Subordinated Security, when such payment is prohibited by the preceding paragraphs of this Section 7.2, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may not have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union in writing within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified thereinaccelerated.

Default on Senior Indebtedness. ‌ (a) In the event and during the continuation of any default by the Credit Union in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, no payment shall be made by the Credit Union with respect to the principal or interest on the Senior Subordinated Securities Debt or any other amounts which may be due on the Senior Subordinated Securities Debt pursuant to the terms hereof or thereof. (b) In the event of the acceleration of the maturity of the Senior Indebtedness, then no payment shall be made by the Credit Union with respect to the principal or interest on the Senior Subordinated Securities Debt or any other amounts which may be due on the Senior Subordinated Securities Debt pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) In the event that, notwithstanding the foregoing, any payment is received by any Holder of a Senior Subordinated Security, when such payment is prohibited by the preceding paragraphs of this Section 7.2, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities Security to the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union in writing within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union Union‌‌ shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities Security should pay or deliver the amounts specified in such notice in the manner specified therein.therein.‌‌

Default on Senior Indebtedness. (a) In the event and during the continuation of 91 - The Company may not make any default by the Credit Union in the payment of principal, the principal (and premium, interest if any) or any other payment due on any Senior Indebtednessinterest, no payment shall be made by the Credit Union with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) In the event of the acceleration of the maturity of the Senior Indebtednessif any, then no payment shall be made by the Credit Union with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts due on or in respect of such a series of the Securities and may not acquire any Securities of that series for cash or property if: (1) a Senior Indebtedness (including any amounts due upon acceleration).Default shall have happened and shall not have been cured or waived or shall not have ceased to exist, or (c2) such payment in respect of the Securities of that series would, immediately after giving effect thereto, result in a Senior Indebtedness Default. In the event that, notwithstanding the foregoing, the Company shall make any payment is received by any to the Trustee or the Holder of a Senior Subordinated Security, when such payment is any Security prohibited by the preceding paragraphs foregoing provisions of this Section 7.216.03, and if such fact then shall have been known or thereafter shall have been made known to the Trustee or such Holder, as the case may be, pursuant to the terms of this Indenture, then except as hereinafter provided, unless and until any such Senior Indebtedness Default shall have been cured or waived or shall cease to exist, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to the holders of Senior Indebtedness or their respective representatives, representative or representatives or to the trustee or trustees under any indenture pursuant to under which any of such instrument evidencing the Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts necessary to pay in respect of such full all Senior Indebtedness and then due, after giving effect to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union in writing within 90 days of such any concurrent payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such Unless and until written notice delivered shall be given to the Credit Union and (ii) a certificate signed Trustee by or on behalf of the Credit Union by a any holder of Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder Indebtedness notifying it of the Senior Subordinated Securities should pay existence of one or deliver more of the amounts specified circumstances described in clause (1) or (2), above, the Trustee shall be entitled to assume that no such notice circumstances exist. Notwithstanding the existence of any one or more of such circumstances, nothing in this Article Sixteen or elsewhere in this Indenture shall prevent the Trustee from applying, for the purposes for which the same were received, any moneys that may at any time be received by the Trustee in trust pursuant to any provision of this Indenture, if (x) in the manner specified thereincase of a redemption of Securities, the Trustee shall not have received, prior to the giving of notice of such redemption, written notice from or on behalf of any holder of any Senior Indebtedness of the existence of one or more of the circumstances described in clause (1) or (2), above, or (y) in the case of a deposit for the purpose of any other payment to Holders, the Trustee shall not have received, at least ten days prior to the date on which such payment is to be made, written notice from or on behalf of any holder of any Senior Indebtedness of the existence of one or more of such circumstances. The provisions of this Section 16.03 shall not apply to any payment with respect to which Section 16.02 would be applicable.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Company in the payment of principal, premium, interest or any other payment due on any Senior IndebtednessIndebtedness of the Company, as the case may be, or in the event that the maturity of any Senior Indebtedness of the Company, as the case may be, has been accelerated because of a default, then, in either case, no payment shall be made by the Credit Union Company with respect to the principal (including redemption payments) of, or premium, if any, or interest on on, the Senior Subordinated Securities or to acquire any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) In the event of the acceleration of the maturity of the Senior Indebtedness, then no payment shall be Securities (except sinking fund payments made in Securities acquired by the Credit Union with respect Company prior to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon accelerationdefault). (c) . In the event that, notwithstanding the foregoing, any payment is shall be received by the Trustee, by any Holder of a Senior Subordinated Securityor by any Paying Agent (or, if the Company is acting as its own Paying Agent, money for any such payment is segregated and held in trust) when such payment is prohibited by the preceding paragraphs paragraph of this Section 7.214.2, before all Senior Indebtedness of the Company is paid in full, or provision is made for such payment in money in accordance with its terms, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to to, the holders of Senior Indebtedness of the Company or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only ratably according to the aggregate amount remaining unpaid on account of the principal, premium, interest or any other payment due on the Senior Indebtedness held or represented by each, for application to the payment of all Senior Indebtedness of the Company, as the case may be, remaining unpaid to the extent necessary to pay such Senior Indebtedness in full in money in accordance with its terms, after giving effect to any concurrent payment or distribution to or for the benefit of the amounts in respect holders of such Senior Indebtedness and Indebtedness, but only to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Trustee in writing within 90 days of such payment of the amounts then due and owing on such the Senior Indebtedness, Indebtedness and only the amounts specified in such notice to the Credit Union Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Corporation in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, or in the event that the maturity of any Senior Indebtedness has been accelerated because of a default and such acceleration has not been resined or canceled, then, in either case, no payment shall be made by the Credit Union Corporation with respect to the principal (including prepayment payments) of or interest on the Senior Subordinated Securities (including Compounded Interest and Additional Sums, if any, and Liquidated Damages, if any, or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) ). In the event of the acceleration of the maturity of the Senior IndebtednessSecurities, then no payment shall be made by the Credit Union Corporation with respect to the principal (including prepayment payments) of or interest on the Senior Subordinated Securities (including Compounded Interest and Additional Sums, if any, and Liquidated Damages, if any, or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof thereof) until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts Allocable Amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) . In the event that, notwithstanding the foregoing, any payment is shall be received by the Debenture Trustee, or any Holder of a Senior Subordinated SecuritySecurityholder, when such payment is prohibited by the preceding paragraphs of this Section 7.215.02, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of Debenture Trustee (if the Senior Subordinated Securities Notice requested by Section 15.06 has been received by the Debenture Trustee) or by any Securityholder, to the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts Allocable Amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Debenture Trustee in writing within 90 days of such payment of the amounts Allocable Amounts then due and owing on such Senior Indebtedness, and only the amounts Allocable Amounts specified in such notice to the Credit Union Debenture Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. If there should occur any receivership, insolvency, assignment for the benefit of creditors, bankruptcy, reorganization or arrangements with creditors (a) In whether or not pursuant to bankruptcy or other insolvency laws), sale of all or substantially all of the event and during the continuation of any default by the Credit Union in the payment of principalassets, premiumdissolution, interest liquidation or any other payment marshaling of the assets and liabilities of the Company, or if this Debenture shall be declared due on and payable upon the occurrence of an Event of Default with respect to any Senior Indebtedness, then (i) no amount shall be paid by the Company in respect of the principal of or interest on this Debenture at the time outstanding, unless and until the principal of and interest on the Senior Indebtedness then outstanding shall be paid in full, and (ii) no claim or proof of claim shall be filed with the Company by or on behalf of the holder of this Debenture that shall assert any right to receive any payments in respect of the principal of and interest on this Debenture, except subject to the payment in full of the principal of and interest on all of the Senior Indebtedness then outstanding. If there occurs an event of default that has been declared in writing with respect to any Senior Indebtedness, or in the instrument under which any Senior Indebtedness is outstanding, permitting the holder of such Senior Indebtedness to accelerate the maturity thereof, then, unless and until such event of default shall have been cured or waived or shall have ceased to exist, or all Senior Indebtedness shall have been paid in full, no payment shall be made by the Credit Union with in respect to of the principal of or interest on this Debenture, unless within three (3) months after the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) In the event happening of the acceleration such Event of Default, the maturity of the Senior Indebtedness, then no payment shall be made by the Credit Union with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) In the event that, notwithstanding the foregoing, any payment is received by any Holder of a Senior Subordinated Security, when such payment is prohibited by the preceding paragraphs of this Section 7.2, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may not have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union in writing within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified thereinaccelerated.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Corporation in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, or in the event that the maturity of any Senior Indebtedness has been accelerated because of a default and such acceleration has not been rescinded or canceled, then, in either case, no payment shall be made by the Credit Union Corporation with respect to the principal (including prepayment payments) of (or premium, if any) or interest on the Senior Subordinated Securities (including Compounded Interest and Additional Sums, if any, and Liquidated Damages, if any, or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) ). In the event of the acceleration of the maturity of the Senior IndebtednessSecurities, then no payment shall be made by the Credit Union Corporation with respect to the principal (including prepayment payments) of (or premium, if any) or interest on the Senior Subordinated Securities (including Compounded Interest and Additional Sums, if any, and Liquidated Damages, if any, or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof thereof) until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts Allocable Amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) . In the event that, notwithstanding the foregoing, any payment is received by the Debenture Trustee, or any Holder of a Senior Subordinated SecuritySecurityholder, when such payment is prohibited by the preceding paragraphs of this Section 7.215.02, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of Debenture Trustee (if the Senior Subordinated Securities notice requested by Section 15.06 has been received by the Debenture Trustee) or by any Securityholder, to the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts Allocable Amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Debenture Trustee in writing within 90 days of such payment of the amounts Allocable Amounts then due and owing on such Senior Indebtedness, and only the amounts Allocable Amounts specified in such notice to the Credit Union Debenture Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Bank in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, no payment shall be made by the Credit Union Bank with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) In the event of the acceleration of the maturity of the Senior Indebtedness, then no payment shall be made by the Credit Union Bank with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) In the event that, notwithstanding the foregoing, any payment is received by any Holder of a Senior Subordinated Security, when such payment is prohibited by the preceding paragraphs of this Section 7.2, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Bank in writing within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union Bank shall be paid to the holders of such Senior Indebtedness. The Credit Union Bank shall, within ten (10) business days of receipt of such notice, provide Investor with with (i) a copy of such notice delivered to the Credit Union Bank and (ii) a certificate signed on behalf of the Credit Union Bank by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Corporation in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, or in the event that the maturity of any Senior Indebtedness has been accelerated because of a default and such acceleration has not been rescinded or canceled, then, in either case, no payment shall be made by the Credit Union Corporation with respect to the principal (including prepayment payments) of or interest on the Senior Subordinated Securities (including Compounded Interest and Additional Sums, if any, or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) ). In the event of the acceleration of the maturity of the Senior IndebtednessSecurities, then no payment shall be made by the Credit Union Corporation with respect to the principal (including prepayment payments) of or interest on the Senior Subordinated Securities (including Compounded Interest and Additional Sums, if any, or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof thereof) until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts Allocable Amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) . In the event that, notwithstanding the foregoing, any payment is received by the Debenture Trustee, or any Holder of a Senior Subordinated SecuritySecurityholder, when such payment is prohibited by the preceding paragraphs of this Section 7.215.02, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of Debenture Trustee (if the Senior Subordinated Securities notice requested by Section 15.06 has been received by the Debenture Trustee) or by any Securityholder, to the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts Allocable Amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Debenture Trustee in writing within 90 days prior to the Debenture Trustee's receipt of such payment of the amounts Allocable Amounts then due and owing on such Senior Indebtedness, and only the amounts Allocable Amounts specified in such notice to the Credit Union Debenture Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event and during the continuation of The Company may not make any default by the Credit Union in the payment of principalthe Principal Amount at Maturity, premiumIssue Price, interest Accrued Original Issue Discount, cash due upon conversion, Redemption Price or any other payment due on any Senior IndebtednessContingent Cash Interest, no payment shall be made by if any, in respect of the Credit Union Securities and may not pay cash with respect to the principal Purchase Price of any Security (other than for fractional shares) or interest otherwise acquire any Securities for cash or property (except as set forth in this Indenture) if: (1) any payment default on any Senior Indebtedness has occurred and is continuing beyond any applicable grace period with respect thereto; or (2) a default (other than a default referred to in the preceding clause (1)) on any Senior Subordinated Securities Indebtedness occurs and is continuing that permits holders of such Senior Indebtedness to accelerate the maturity thereof and the default is the subject of judicial proceedings or the Company receives a notice of default thereof from any other amounts which person who may be due on the Senior Subordinated Securities give such notice pursuant to the instrument evidencing or document governing such Senior Indebtedness. If the Company receives any such notice, then a similar notice received within nine months thereafter relating to the same default on the same issue of Senior Indebtedness shall not be effective for purposes of this Section 11.04. Notwithstanding the foregoing, the Company may resume payment on the Securities and may acquire Securities if and when: (a) the default referred to above is cured or waived as provided or permitted in accordance with the terms hereof or thereof.of the applicable Senior Indebtedness; or (b) In in the event case of a default referred to in clause (2) of the acceleration preceding paragraph, 179 or more days pass after the receipt by the Company of the maturity of notice described in clause (2) above; and this Indenture otherwise permits the Senior Indebtednesspayment or acquisition at that time; provided, then no payment shall be made by the Credit Union however, that with respect to payments made after the principal 179-day period referred to in clause (b) of this Section 11.04, the Trustee or interest on the Senior Subordinated Holder of any Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant shall pay over and deliver forthwith to the terms hereof or thereof until Company for the benefit of the holders of all Senior Indebtedness outstanding at any amounts received by the time Trustee or any such Holder to the extent necessary to pay all holders of such acceleration shall receive payment, in full, of all amounts due on or in respect of such Senior Indebtedness in full in cash or otherwise provide for such payment thereof (including any amounts due upon accelerationas such phrase is defined above). (c) . In the event that, notwithstanding the foregoing, (a) the Company shall make any payment is received by any to the Trustee or the Holder of a Senior Subordinated Security, when such payment is any Security prohibited by the preceding paragraphs foregoing provisions of this Section 7.2Section, and (b) with respect to any payment made after the expiration of the 179-day period if such fact shall then have been made known to the Trustee or, as the case may be, such Holder, then and in such event such payment shall (to the extent permitted by law) be held in trust paid over and delivered forthwith to the Company by or on behalf of the person holding such payment for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union in writing within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days provisions of receipt of such notice, provide Investor with (i) a copy of such notice delivered this Section shall not apply to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified thereinany payment with respect to which Section 11.02 would be applicable.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Company in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, or in the event that the maturity of any Senior Indebtedness has been accelerated because of a default, then, in either case, no payment shall be made by the Credit Union Company with respect to the principal (including redemption payments) of or premium, if any, or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) Securities. In the event of the acceleration of the maturity of the Senior IndebtednessSecurities, then no payment shall be made by the Credit Union Company with respect to the principal (including prepayment payments) of or premium, if any, or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, payment in full, full of all amounts Allocable Amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) . In the event that, notwithstanding the foregoing, any payment is shall be received by any Holder of a Senior Subordinated Security, the Trustee when such payment is prohibited by the preceding paragraphs paragraph of this Section 7.213.2, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to to, the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts Allocable Amounts in respect of such Senior Indebtedness and only to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Trustee in writing writing, within 90 days of such payment payment, of the amounts Allocable Amounts then due and owing on such Senior Indebtedness, Indebtedness and only the amounts Allocable Amounts specified in such notice to the Credit Union Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. The Company may not make any payment or distribution to the Trustee or any Securityholder in respect of principal 57 of or interest on the Securities and may not acquire from the Trustee or any Securityholder any Securities for cash or property (aother than securities that are subordinated to at least the same extent as the Securities to (i) In the event Senior Indebtedness and during the continuation of (ii) any securities issued in exchange for Senior Indebtedness) until all Senior Indebtedness has been paid in full if: (1) a default by the Credit Union in the payment of principalany principal of, premium, interest or any other payment due on any Senior Indebtednessif any, no payment shall be made by the Credit Union with respect to the principal or interest on Senior Indebtedness occurs and is continuing beyond any applicable grace period in the agreement, indenture or other document governing such Senior Indebtedness; or (2) a default, other than a default referred to in subsection (1) above (a "Nonpayment Default"), on Senior Indebtedness occurs and is continuing that then permits holders of the Senior Subordinated Securities Indebtedness to accelerate its maturity and the Trustee receives a notice of the default from the Representative or Representatives of holders of at least a majority in principal amount of Senior Indebtedness then outstanding, or if none is outstanding, of at least a majority in principal amount of the commitments therefor. If the Trustee receives any other amounts which may such notice of a Nonpayment Default, a subsequent notice received within 360 days thereafter shall not be due effective for purposes of this Section. No Nonpayment Default that existed or was continuing on the Senior Subordinated Securities pursuant date of delivery of any such notice to the terms hereof Trustee shall be, or thereof.be made, the basis for a subsequent notice unless such default shall have been cured or waived for a period of not less than 180 days. The Company may and shall resume payments on and distributions in respect of the Securities and may acquire them upon the earlier of: (bi) In the event date upon which the default is cured or waived, or (ii) in the case of a default referred to in Section 11.4(2) hereof, 179 days after the acceleration of date on which the notice is received if the maturity of the Senior Indebtedness, then no payment shall be made by the Credit Union with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all such Senior Indebtedness outstanding has not been accelerated, if this Article otherwise permits the payment, distribution or acquisition at the time of such acceleration shall receive payment, in full, of all amounts due on payment or in respect of such Senior Indebtedness (including any amounts due upon acceleration)acquisition. (c) In the event that, notwithstanding the foregoing, any payment is received by any Holder of a Senior Subordinated Security, when such payment is prohibited by the preceding paragraphs of this Section 7.2, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union in writing within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (ai) In If there exists any event of default under any agreement or instrument pursuant to which any Senior Indebtedness is issued, in each instance as now in effect or as hereafter from time to time modified or amended, without the event and during the continuation necessity of any default consent by the Credit Union in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, no payment shall be made by the Credit Union with respect notice to the principal Holders (a “Senior Indebtedness Default”) and such Senior Indebtedness Default shall not have been cured or interest waived in writing by or on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) In the event behalf of the acceleration requisite percentage of the maturity holders of the such Senior Indebtedness, then no any payment shall be made by the Credit Union with respect to the on account of principal of or interest on this Debenture which the Senior Subordinated Securities or any other amounts which may Holder would then be due on entitled to receive, but for the Senior Subordinated Securities pursuant provisions of this Section 3(c), shall instead be paid over to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts due on or in respect of such Senior Indebtedness (including until all amounts of Senior Indebtedness then due and payable have been paid in full, prior to any amounts due upon acceleration)direct or indirect payment by or on behalf of the Company to the Holder of any principal of or interest on this Debenture. (cii) The Company may not, directly or indirectly, make, and the Holder may not ask, demand, take or receive from or on behalf of the Company, any payment on account of the principal of or interest on this Debenture during the period (a “Deferral Period”) from the date the Company and/or the Holder receive from a holder of Senior Indebtedness a notice (a “Deferral Notice”) of the existence of any Senior Indebtedness Default until the date such Senior Indebtedness Default is cured, waived in writing or otherwise ceases to exist. (iii) Upon termination of any Deferral Period the Company shall resume payments on account of the principal of and interest on this Debenture subject to the obligation of the Company and the Holder to pay over to the holders of Senior Indebtedness amounts otherwise payable on account of the principal of and interest on this Debenture pursuant to the provisions of, and in the circumstances specified in, this Section 3. (iv) In the event that, notwithstanding the foregoingforegoing provisions of this Section 3, any payment is shall be made by or on behalf of the Company and received by any the Holder at a time after the giving of a Senior Subordinated SecurityDeferral Notice and during a Deferral Period, when such payment is prohibited by the preceding paragraphs of this Section 7.2, then such payment shall be held in trust for the benefit of, of and shall be immediately paid over or delivered by the Holder of the Senior Subordinated Securities to the holders of Senior Indebtedness remaining unpaid or their respective representativesRepresentatives, or for application to the trustee or trustees under any indenture pursuant to which any payment in full of such all Senior Indebtedness may have been issued, as their respective interests may appear, but only in accordance with its terms (after giving effect to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (any prior or their representative or representatives or a trustee) notify the Credit Union in writing within 90 days of such substantially concurrent payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein).

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Bank in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, no payment shall be made by the Credit Union Bank with respect to the principal or interest on the Senior Subordinated Securities Notes or any other amounts which may be due on the Senior Subordinated Securities Notes pursuant to the terms hereof or thereof. (b) In the event of the acceleration of the maturity of the Senior Indebtedness, then no payment shall be made by the Credit Union Bank with respect to the principal or interest on the Senior Subordinated Securities Notes or any other amounts which may be due on the Senior Subordinated Securities Notes pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration).acceleration).‌ (c) In the event that, notwithstanding the foregoing, any payment is received by any Holder of a Senior Subordinated SecurityNote, when such payment is prohibited by the preceding paragraphs of this Section 7.26.2, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities Notes to the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Bank in writing within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union Bank shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union in the payment of principal, premium, principal or interest or any other payment due on any Senior Indebtedness, no payment shall be made by or in the Credit Union event that any event of default with respect to the principal any Senior Indebtedness shall have occurred and be continuing and shall have resulted in such Senior Indebtedness becoming or interest on the Senior Subordinated Securities or any other amounts which may be being declared due on the Senior Subordinated Securities pursuant and payable prior to the terms hereof date on which it would otherwise have become due and payable (unless and until such event of default shall have been cured or thereof. (bwaived or shall have ceased to exist and such acceleration shall have been rescinded or annulled) In or in the event any judicial proceeding shall be pending with respect to any such default in payment or such event of the acceleration of the maturity of the Senior Indebtednessdefault, then no payment shall be made by the Credit Union Company with respect to the principal (including redemption payments) of or interest on on, the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) Securities. In the event that, notwithstanding the foregoing, any payment is on the Securities shall be received by the Trustee or any Holder of a Senior Subordinated Security, when such payment is prohibited by the preceding paragraphs paragraph of this Section 7.21102, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to to, the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union in writing Trustee within 90 days of such payment of the amounts then due and owing on such the Senior Indebtedness, Indebtedness and only the amounts specified in such notice to the Credit Union Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Company in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, or in the event that the maturity of any Senior Indebtedness has been accelerated because of a default, then, in either case, no payment shall be made by the Credit Union Company with respect to the principal (including redemption payments) of or premium, if any, or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) Securities. In the event of the acceleration of the maturity of the Senior IndebtednessSecurities, then no payment shall be made by the Credit Union Company with respect to the principal (including redemption payments) of or premium, if any, or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, payment in full, full of all amounts Allocable Amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) . In the event that, notwithstanding the foregoing, any payment is shall be received by any Holder of a Senior Subordinated Security, the Trustee when such payment is prohibited by the preceding paragraphs of this Section 7.215.2, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to to, the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Trustee in writing writing, within 90 days of such payment of the amounts Allocable Amounts then due and owing on such Senior Indebtedness, Indebtedness and only the amounts Allocable Amounts specified in such notice to the Credit Union Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Company in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, or in the event that the maturity of any Senior Indebtedness has been accelerated because of a default, or if any judicial proceeding shall be pending with respect to any such default, then, in any case, no payment shall be made by the Credit Union Company with respect to the principal (including prepayment) of or premium, if any, or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) Securities. In the event of the acceleration of the maturity of the Senior IndebtednessSecurities, then no payment shall be made by the Credit Union Company with respect to the principal (including prepayments) of or premium, if any, or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, payment in full, full of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) . In the event that, notwithstanding the foregoing, any payment is shall be received by any Holder of a Senior Subordinated Security, the Trustee when such payment is prohibited by the preceding paragraphs paragraph of this Section 7.215.02, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to to, the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts due in respect of such Senior Indebtedness and only to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Trustee in writing writing, within 90 days of such payment payment, of the amounts then due and owing on such Senior Indebtedness, Indebtedness and only the amounts specified in such notice to the Credit Union shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.the

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Company in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, or in the event that the maturity of any Senior Indebtedness has been accelerated because of a default, then, in either case, no payment shall be made by the Credit Union Company with respect to the principal (including prepayment payments) of or premium, if any, or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) Securities. In the event of the acceleration of the maturity of the Senior IndebtednessSecurities, then no payment shall be made by the Credit Union Company with respect to the principal (including prepayment payments) of or premium, if any, or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, payment in full, of all amounts due on or in respect full of such Senior Indebtedness (including any amounts due upon acceleration). (c) . In the event that, notwithstanding the foregoing, any payment is shall be received by any Holder of a Senior Subordinated Security, the Trustee when such payment is prohibited by the preceding paragraphs of this Section 7.215.02, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to to, the holders of Senior Indebtedness or their respective representatives, ; or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Trustee in writing writing, within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, Indebtedness and only the amounts specified in such notice to the Credit Union Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event of and during the continuation of any default by the Credit Union in the payment of principal, premiumprincipal of, interest or any other payment due premium, if any, on any Senior Indebtedness, no or any Obligation owing from time to time under or in respect of Senior Indebtedness, or in the event that any event of default (other than a payment shall be made by the Credit Union default) with respect to the principal any Senior Indebtedness shall have occurred and be continuing and shall have resulted in such Senior Indebtedness becoming or interest on the Senior Subordinated Securities or any other amounts which may be being declared due on the Senior Subordinated Securities pursuant and payable prior to the terms hereof or thereof. (b) In the event of the acceleration of the maturity of the Senior Indebtednessdate on which it would otherwise have become due and payable, then no payment shall be made by or on behalf of the Credit Union Company on account of principal of, premium, if any, and interest (and Additional Interest, if any) on the Securities (other than payments in the form of Reorganization Securities), unless and until such default shall have been cured or waived in writing in accordance with the instruments governing such Senior Indebtedness or such acceleration shall have been rescinded or annulled; (b) If any event of default other than as described in clause (a) above with respect to the principal or interest on the any Designated Senior Subordinated Securities or any other amounts which may Indebtedness shall have occurred and be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until continuing permitting the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts due on or in respect of such Designated Senior Indebtedness (including or their Representative or Representatives) to declare such Designated Senior Indebtedness due and payable prior to the date on which it would otherwise have become due and payable, then no payment shall be made by or on behalf of the Company on account of the principal of, premium, if any, and interest (and Additional Interest, if any) on the Securities (other than payments in the form of Reorganization Securities) during the period (a “Payment Blockage Period”) commencing on the date the Company or the Trustee receives written notice (a “Payment Notice”) of such event of default (which notice shall be binding on the Trustee and the Holders as to the occurrence of such a payment default or nonpayment event of default) from the Credit Agent (or other holders of Designated Senior Indebtedness or their Representative or Representatives) and ending on the earliest of: (A) 179 days after such date; (B) the date, if any, on which such Designated Senior Indebtedness to which such default relates is paid in full in cash or such default is cured or waived in writing in accordance with the instruments governing such Designated Senior Indebtedness by the holders of such Designated Senior Indebtedness; and (C) the date on which the Trustee receives written notice from the Credit Agent (or other holders of Designated Senior Indebtedness or their Representative or Representatives), as the case may be, terminating the Payment Blockage Period, unless the maturity of any amounts due upon acceleration)Designated Senior Indebtedness has been accelerated. (c) In During any consecutive 360-day period, the event that, notwithstanding the foregoing, any payment is received by any Holder aggregate of a Senior Subordinated Security, when such payment is prohibited by the preceding paragraphs of this Section 7.2, such payment all Payment Blockage Periods shall not exceed 179 days and there shall be held a period of at least 181 consecutive days in trust for the benefit of, and shall be paid over each consecutive 360-day period when no Payment Blockage Period is in effect. No event of default which existed or delivered by the Holder of the Senior Subordinated Securities was continuing with respect to the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or for which notice commencing a trustee) notify Payment Blockage Period was given on the Credit Union in writing within 90 days of date such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union Payment Blockage Period commenced shall be paid to or be made the holders basis for the commencement of any subsequent Payment Blockage Period unless such Senior Indebtedness. The Credit Union shall, within ten (10) business days event of receipt default is cured or waived for a period of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified thereinnot less than 90 consecutive days.

Default on Senior Indebtedness. (a) In No direct or indirect payment by or on behalf of the event and during Guarantor (other than on Permitted Junior Securities of the continuation Guarantor (such term being defined herein in terms of any default by Senior Indebtedness of the Credit Union Guarantor)) in respect of the payment of principalGuarantee, premium, interest or any other payment due on any Senior Indebtedness, no payment shall be made by the Credit Union with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities whether pursuant to the terms hereof of the Guarantee or thereofupon acceleration of the Notes, by way of repurchase, redemption, defeasance or otherwise, will be made if, at the time of such payment, there exists a default in the payment when due of all or any portion of the obligations under or in respect of any Senior Indebtedness of the Guarantor, whether at maturity, on account of mandatory redemption or prepayment, acceleration or otherwise, and such default shall not have been cured or waived or the benefits of this Section 3.02(a) waived by or on of the holders of such Senior Indebtedness. (b) In addition, during the continuance of a Payment Blockage Period after receipt by the Company and the Trustee of a Blockage Notice under Section 13.02 of the Base Indenture from a holder or holders of Designated Senior Indebtedness of the Company or the trustee or agent acting on behalf of such Designated Senior Indebtedness of the Company, then, unless and until such default or event of the acceleration default has been cured or waived or has ceased to exist or such Designated Senior Indebtedness of the maturity Company has been discharged or repaid in full in cash, or the requisite holders of such Designated Senior Indebtedness of the Company have otherwise agreed in writing, (a) no payment of any kind or character will be made by or on behalf of the Guarantor on account of or with respect to its Guarantee (other than in Permitted Junior Securities of the Guarantor) and (b) the Guarantor may not acquire any Notes for cash, property or otherwise, during, in the case of both clauses (a) and (b), the Payment Blockage Period. (c) In addition, during the continuance of any non-payment default or non-payment event of default with respect to any Designated Senior Indebtedness of the Guarantor pursuant to which the maturity thereof may be accelerated, and upon receipt by the Trustee of written notice (a “Guarantor Payment Blockage Notice”) from a holder or holders of such Designated Senior Indebtedness or the trustee or agent acting on behalf of such Designated Senior Indebtedness, then then, unless and until such default or event of default has been cured or waived or has ceased to exist or such Designated Senior Indebtedness has been discharged or repaid in full in cash, or the requisite holders of such Designated Senior Indebtedness have otherwise agreed in writing, (a) no payment shall of any kind or character will be made by or on behalf of the Credit Union Guarantor on account of or with respect to its Guarantee (other than in Permitted Junior Securities of the Guarantor) and (b) the Guarantor may not acquire any Notes for cash, property or otherwise, during, in the case of both clauses (a) and (b), a period (a “Guarantor Payment Blockage Period”) commencing on the date of receipt of such Payment Blockage Notice by the Trustee and ending 179 days thereafter. Notwithstanding anything herein to the contrary, (x) in no event will a Guarantor Payment Blockage Period extend beyond 179 days from the date the Guarantor Payment Blockage Notice in respect thereof was given. Not more than one Guarantor Payment Blockage Period may be commenced with respect to the principal Guarantor during any period of 360 consecutive days. No default or interest event of default that existed or was continuing on the date of commencement of any Guarantor Payment Blockage Period with respect to the Designated Senior Subordinated Securities Indebtedness of the Guarantor initiating such Guarantor Payment Blockage Period may be, or be made, the basis for the commencement of any other amounts which may be due on Guarantor Payment Blockage Period by the Senior Subordinated Securities pursuant to the terms hereof holder or thereof until the holders of all such Designated Senior Indebtedness outstanding at or the time trustee or agent acting on behalf of such acceleration shall receive paymentDesignated Senior Indebtedness, in fullwhether or not within a period of 360 consecutive days, unless such default or event of all amounts due on default has been cured or in respect waived for a period of such Senior Indebtedness (including any amounts due upon acceleration)not less than 90 consecutive days. (cd) In the event that, notwithstanding the foregoing, any payment is under the Guarantee shall be received by any Holder of a Senior Subordinated Security, the Trustee when such payment is prohibited by the preceding paragraphs paragraph of this Section 7.23.02, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to to, the holders of Senior Indebtedness of the Guarantor or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of instruments evidencing such Senior Indebtedness may have been issued, as their respective interests may appear, but only as calculated by the Guarantor, to the extent of the amounts in respect of necessary to pay such Senior Indebtedness and in full, in cash, after giving effect to any concurrent payment or distribution to or for the extent that the holders benefit of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union in writing within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered before any payment or distribution is made to the Credit Union and (ii) a certificate signed on behalf of Holders or to the Credit Union by a Senior Executive Officer certifying that Trustee under the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified thereinGuarantee.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default Default by the Credit Union Corporation in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, or in the event that the maturity of any Senior Indebtedness has been accelerated because of an Event of Default, or if any judicial proceeding shall be pending with respect to any such Default, then, in any such case, no payment shall be made by the Credit Union Corporation with respect to the principal (including redemption payments) of or interest Interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) otherwise. In the event of the acceleration of the maturity of the Senior IndebtednessSecurities, then no payment shall be made by the Credit Union Corporation with respect to the principal (including redemption payments) or interest Interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof otherwise until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, payment in full, of all amounts due on or in respect full of such Senior Indebtedness (including any amounts due upon acceleration). (c) . In the event that, notwithstanding the foregoing, any payment is shall be received by any Holder of a Senior Subordinated Security, the Debenture Trustee when such payment is prohibited by the preceding paragraphs of this Section 7.215.02, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to to, the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Debenture Trustee in writing within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union Debenture Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Corporation in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, or in the event that the maturity of any Senior Indebtedness has been accelerated because of a default and such acceleration has not been resined or canceled, then, in either case, no payment shall be made by the Credit Union Corporation with respect to the principal (including prepayment payments) of or interest on the Senior Subordinated Securities (including Compounded Interest and Additional Sums, if any, and Liquidated Damages, if any, or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) ). In the event of the acceleration of the maturity of the Senior IndebtednessSecurities, then no payment shall be made by the Credit Union Corporation with respect to the principal (including prepayment payments) of or interest on the Senior Subordinated Securities (including Compounded Interest and Additional Sums, if any, and Liquidated Damages, if any, or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof thereof) until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts Allocable Amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) . In the event that, notwithstanding the foregoing, any payment is shall be received by the Debenture Trustee, or any Holder of a Senior Subordinated SecuritySecurityholder, when such payment is prohibited by the preceding paragraphs of this Section 7.215.2, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of Debenture Trustee (if the Senior Subordinated Securities Notice requested by Section 15.6 has been received by the Debenture Trustee) or by any Securityholder, to the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts Allocable Amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Debenture Trustee in writing within 90 days of such payment of the amounts Allocable Amounts then due and owing on such Senior Indebtedness, and only the amounts Allocable Amounts specified in such notice to the Credit Union Debenture Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. Unless Section 11.03 shall be applicable, (a) In the event and during the continuation of that any default by the Credit Union in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, no payment shall be made by the Credit Union with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) In the event of the acceleration of the maturity of the Senior Indebtedness, then no payment shall be made by the Credit Union with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) In the event that, notwithstanding the foregoing, any payment is received by any Holder of a Senior Subordinated Security, when such payment is prohibited by the preceding paragraphs of this Section 7.2, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to the holders of Senior Indebtedness or their respective representativesany Obligation or claim relating thereto shall have occurred and be continuing, whether at maturity (by lapse of time, acceleration or to the trustee otherwise), upon redemption or trustees under any indenture pursuant to which any of otherwise (a "Payment Default") unless and until such Senior Indebtedness may Payment Default shall have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (cured or their representative or representatives or a trustee) notify the Credit Union waived in writing within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union shall be paid to by the holders of such Senior Indebtedness. The Credit Union shall, within ten no direct or indirect payment or distribution (10including, without limitation, any payment or distribution which may be payable or deliverable by reason of the payment of any other Indebtedness of the Company being subordinated to payment of the Securities) business days except for the issuance of receipt Secondary Securities in lieu of such noticecash interest on the Securities in accordance with Paragraph 2 thereof, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed shall be made by or on behalf of the Credit Union Company for or on account of any Obligations with respect to the Securities or on account of any Claim, and neither the Trustee nor any Holders shall receive from the Company, directly or indirectly, any payment or distribution, including, without limitation, from or by way of collateral, on account of any Obligations with respect to the Securities or on account of any Claim. (b) Upon receipt by the Company and the Trustee of written notice from the Minimum Payment Guarantor of any default (including an unmatured event of default) under the Minimum Payment Guaranty Documents, other than a Senior Executive Officer certifying Payment Default, or that a payment or distribution by the information set forth Company with respect to any Security would, immediately after giving effect thereto, result in such notice is true a default, and correct and confirming that unless such default shall have been cured or waived in writing in accordance with the Holder terms of the Senior Subordinated Minimum Payment Guaranty Documents and written notice thereof is delivered to the Trustee, no direct or indirect payment or distribution (including, without limitation, any payment or distribution which may be payable or deliverable by reason of the payment of any other Indebtedness of the Company being subordinated to payment of the Securities), except for the issuance of Secondary Securities should pay in lieu of cash interest on the Securities in accordance with Paragraph 2 thereof, may be made by or deliver on behalf of the amounts specified Company for or on account of the Obligations with respect to the Securities or on account of any Claim and neither the Trustee nor any Holder shall receive from the Company, directly or indirectly, any payment or distribution, including, without limitation, from or by way of collateral, in respect of the Obligations with respect to the Securities or on account of any Claim during a period (a "MPG Payment Blockage Period") commencing on the receipt by the Company and the Trustee of such notice and ending on the earlier of (i) 179 days thereafter or (ii) the day on which all such defaults shall have been cured or waived or on which the Minimum Payment Guaranty Obligations are discharged or paid in full or, as acceptable to the Minimum Payment Guarantor, in any other manner, after which, in the case of clauses (i) and (ii), the Company shall promptly resume making (subject to the provisions of Section 11.03 and the other provisions of this Section 11.04) any and all required payments in respect of the Securities, including any missed payments. (c) Upon receipt by the Company and the Trustee of written notice from the Credit Agent of any default (including an unmatured event of default) under the Credit Agreement, other than a Payment Default, or that a payment or distribution by the Company with respect to any Security would, immediately after giving effect thereto, result in such a default, and unless such default shall have been cured or waived in writing in accordance with the terms of the Credit Agreement and written notice thereof is delivered to the Trustee, no direct or indirect payment or distribution (including, without limitation, any payment or distribution which may be payable or deliverable by reason of the payment of any other Indebtedness of the Company being subordinated to payment of the Securities), except for the issuance of Secondary Securities in lieu of cash interest on the Securities in accordance with Paragraph 2 thereof, may be made by or on behalf of the Company for or on account of the Obligations with respect to the Securities or on account of any Claim and neither the Trustee nor any Holder shall receive from the Company, directly or indirectly, any payment or distribution, including, without limitation, from or by way of collateral, in respect of the Obligations with respect to the Securities or on account of any Claim during a period (a "CA Payment Blockage Period") commencing on the receipt by the Company and the Trustee of such notice and ending on the earlier of (i) 179 days thereafter or (ii) the day on which all such defaults shall have been cured or waived or on which such Specified Senior Indebtedness is discharged or paid in full or, as acceptable to the holders of such Specified Senior Indebtedness, in any other manner, after which, in the manner specified thereincase of clauses (i) and (ii), the Company shall promptly resume making (subject to the provisions of Section 11.03 and the other provisions of this Section 11.04) any and all required payments in respect of the Securities, including any missed payments. (d) Upon receipt by the Company and the Trustee of written notice from the New Indenture Trustee of any default (including an unmatured event of default) under the New Indentures, other than a Payment Default, or that a payment or distribution by the Company with respect to any Security would, immediately after giving effect thereto, result in such a default, and unless such default shall have been cured or waived in writing in accordance with the terms of the applicable New Indenture and written notice thereof is delivered to the Trustee, no direct or indirect payment or distribution (including, without limitation, any payment or distribution which may be payable or deliverable by reason of the payment of any other Indebtedness of the Company being subordinated to payment of the Securities), except for the issuance of Secondary Securities in lieu of cash interest on the Securities in accordance with Paragraph 2 thereof, may be made by or on behalf of the Company for or on account of the Obligations with respect to the Securities or on account of any Claim and neither the Trustee nor any Holder shall receive from the Company, directly or indirectly, any payment or distribution, including, without limitation, from or by way of collateral, in respect of the Obligations with respect to the Securities or on account of any Claim during a period (each such period and each MPG Payment Blockage Period and CA Payment Blockage Period are referred to herein as a "Payment Blockage Period") commencing on the receipt by the Company and the Trustee of such notice and ending on the earlier of (i) 179 days thereafter or (ii) the day on which all such defaults shall have been cured or waived or on which such Specified Senior Indebtedness is discharged or paid in full or, as acceptable to the holders of such Specified Senior Indebtedness, in any other manner, after which, in the case of clauses (i) and (ii), the Company shall promptly resume making (subject to the provisions of Section 11.03 and the other provisions of this Section 11.04) any and all required payments in respect of the Securities, including any missed payments. (e) Any number of payment blockage notices may be given; provided, however, that (i) during any 360 consecutive days, the aggregate length of all Payment Blockage Periods shall not exceed 180 days, (ii) there shall be a period of at least 180 consecutive days during each continuous 360-day period when no Payment Blockage Period is in effect under any of clauses (b), (c) and (d), and (iii) no default which, to the knowledge of the Representative of Specified Senior Indebtedness existed or was continuing on the date of the commencement of any Payment Blockage Period by such Representative shall be, or be made, the basis for the commencement of a second or other subsequent Payment Blockage Period by such Representative, whether or not within a period of 360 consecutive days, unless such default shall have been cured or waived for a period of not less than 90 consecutive days during which no Payment Blockage Period was in effect; provided, however, that (A) a default or event of default that resulted in the commencement of a 180-day period may be the basis for the commencement of another 180-day period if such default or event of default was cured or waived for at least 90 days, (B) for the purposes of this clause (iii), separate breaches of the same covenant shall be deemed to give rise to separate defaults or events of default, and (C) for the purposes of this clause (iii), any breach of a financial covenant for a subsequent period shall be deemed to give rise to a separate default or event of default. (f) The Company shall deliver a notice to the Trustee promptly after the date on which any non-payment Default is cured or waived or ceases to exist or on which the Specified Senior Indebtedness related thereto is discharged or paid in full, in cash or Cash Equivalents or, as acceptable to the holders of Senior Indebtedness, in any other manner, and the Trustee is authorized to act in reliance on such notice, but failure to give such notice shall not affect the subordination of the Securities and all Claims to the Senior Indebtedness provided in this Article.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union in the No payment of principalprincipal (including prepayment) of, premium, interest or any other payment due on any Senior Indebtednessif any, no payment shall be made by the Credit Union with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on made at any time when (i) any Senior Indebtedness is not paid when due, (ii) any applicable grace period with respect to such default has ended and such default has not been cured or waived or ceased to exist, or (iii) the maturity of any Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) Indebted- ness has been accelerated because of a default. In the event of the acceleration of the maturity of the Senior IndebtednessSecurities, then no payment shall be made by the Credit Union Company with respect to the principal (including prepayments) of or premium, if any, or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, payment in full, full of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) . In the event that, notwithstanding the foregoing, any payment is shall be received by any Holder of a Senior Subordinated Security, the Trustee when such payment is prohibited by the preceding paragraphs of this Section 7.215.02, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to to, the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness Indebted- ness (or their representative or representatives or a trustee) notify the Credit Union Trustee in writing writing, within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, Indebtedness and only the amounts specified in such notice to the Credit Union Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Issuer in the payment of principal, premium, if any, interest or any other payment due on any Senior IndebtednessIndebtedness of the Issuer and any applicable grace period relating to such default has ended and such default has not been cured or waived or ceased to exist, or in the event that the maturity of any Senior Indebtedness of the Issuer has been accelerated because of a default, then, in either case, no payment shall be made by the Credit Union Issuer with respect to the principal (including redemption payments) of, or premium, if any, or interest on on, the Senior Subordinated Debt Securities or to acquire any of the Subordinated Debt Securities (except sinking fund payments, if any, made in respect of Subordinated Debt Securities acquired by the Issuer prior to such default and any payments or other amounts which may be due on the Senior Subordinated Securities distributions from any defeasance trust created pursuant to the terms hereof Section 1301 or thereof1302 prior to such default). (b) In the event of the acceleration of the maturity of the Senior Indebtedness, then no payment shall be made by the Credit Union with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) In the event that, notwithstanding the foregoing, any payment is shall be received by the Trustee, by any Holder of a Senior Subordinated Securityor by any Paying Agent (or, if the Issuer is acting as its own Paying Agent, money for any such payment is segregated and held in trust) when such payment is prohibited by the preceding paragraphs paragraph of this Section 7.21502, before all Senior Indebtedness of the Issuer is paid in full, or provision is made for such payment in money in accordance with its terms, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to to, the holders of Senior Indebtedness of the Issuer or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only ratably according to the aggregate amount remaining unpaid on account of the principal, premium, interest or any other payment due on the Senior Indebtedness held or represented by each, for application to the payment of all Senior Indebtedness of the Issuer remaining unpaid to the extent necessary to pay such Senior Indebtedness in full in money in accordance with its terms, after giving effect to any concurrent payment or distribution to or for the benefit of the amounts in respect holders of such Senior Indebtedness and Indebtedness, but only to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Trustee in writing within 90 days of such payment of the amounts then due and owing on such the Senior Indebtedness, Indebtedness and only the amounts specified in such notice to the Credit Union Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Corporation in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, or in the event that the maturity of any Senior Indebtedness has been accelerated because of a default, then, in either case, no payment shall be made by the Credit Union Corporation with respect to the principal (including prepayment payments) of (or premium, if any) or interest on the Senior Subordinated Securities (including Compounded Interest and Additional Sums (if any) and Liquidated Damages, if any, or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) otherwise). In the event of the acceleration of the maturity of the Senior IndebtednessSecurities, then no payment shall be made by the Credit Union Corporation with respect to the principal (including prepayment payments) of (or premium, if any) or interest on the Senior Subordinated Securities (including Compounded Interest and Additional Sums (if any) and Liquidated Damages, if any, or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof otherwise) until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, payment in full, of all amounts due on or in respect full of such Senior Indebtedness (including any amounts due upon acceleration). (c) . In the event that, notwithstanding the foregoing, any payment is shall be received by any Holder of a Senior Subordinated Security, the Debenture Trustee when such payment is prohibited by the preceding paragraphs of this Section 7.215.02, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to to, the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Debenture Trustee in writing within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union Debenture Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Corporation in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, or in the event that the maturity of any Senior Indebtedness has been accelerated because of a default and such acceleration has not been rescinded or canceled, then, in either case, no payment shall be made by the Credit Union Corporation with respect to the principal (including prepayment payments) of (or premium, if any) or interest on the Senior Subordinated Securities (including Compounded Interest and Additional Sums, if any, or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) ). In the event of the acceleration of the maturity of the Senior IndebtednessSecurities, then no payment shall be made by the Credit Union Corporation with respect to the principal (including prepayment payments) of (or premiums if any) or interest on the Senior Subordinated Securities (including Compounded Interest and Additional Sums, if any, or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof thereof) until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts Allocable Amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) . In the event that, notwithstanding the foregoing, any payment is received by the Debenture Trustee, or any Holder of a Senior Subordinated SecuritySecurityholder, when such payment is prohibited by the preceding paragraphs of this Section 7.215.02, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of Debenture Trustee (if the Senior Subordinated Securities notice required by Section 15.06 has been received by the Debenture Trustee) or by any Securityholder, to the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts Allocable Amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Debenture Trustee in writing within 90 days of such payment of the amounts Allocable Amounts then due and owing on such Senior Indebtedness, and only the amounts Allocable Amounts specified in such notice to the Credit Union Debenture Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Company in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, or in the event that the maturity of any Senior Indebtedness has been accelerated because of a default, then, in either case, no payment shall be made by the Credit Union Company with respect to the principal (including redemption payments) of or premium, if any, or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) Securities. In the event of the acceleration of the maturity of the Senior IndebtednessSecurities, then no payment shall be made by the Credit Union Company with respect to the principal (including redemption payments) of or premium, if any, or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, payment in full, full of all amounts Allocable Amounts due on or in respect of such Senior Indebtedness (including includ- ing any amounts due upon acceleration). (c) . In the event that, notwithstanding the foregoing, any payment is shall be received by any Holder of a Senior Subordinated Security, the Trustee when such payment is prohibited by the preceding paragraphs paragraph of this Section 7.215.02, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to to, the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts Allocable Amounts in respect of such Senior Indebtedness and only to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Trustee in writing writing, within 90 days of such payment payment, of the amounts Allocable Amounts then due and owing on such Senior Indebtedness, Indebtedness and only the amounts Allocable Amounts specified in such notice to the Credit Union Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Company in the payment of principal, premium, interest or any other payment due on any Senior IndebtednessIndebtedness of the Company, as the case may be, or in the event that the maturity of any Senior Indebtedness of the Company, as the case may be, has been accelerated because of a default, then, in either case, no payment shall be made by the Credit Union Company with respect to the principal (including redemption payments) of, or premium, if any, or interest on on, the Senior Subordinated Securities or to acquire any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) In the event of the acceleration of the maturity of the Senior Indebtedness, then no payment shall be Securities (except sinking fund payments made in Securities acquired by the Credit Union with respect Company prior to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon accelerationdefault). (c) . In the event that, notwithstanding the foregoing, any payment is shall be received by the Trustee, by any Holder of a Senior Subordinated Securityor by any Paying Agent (or, if the Company is acting as its own Paying Agent, money for any such payment is segregated and held in trust) when such payment is prohibited by the preceding paragraphs paragraph of this Section 7.214.2, before all Senior Indebtedness of the Company is paid in full, or provision is made for such payment in money in accordance with its terms, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to to, the holders of Senior Indebtedness of the Company or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only ratably according to the aggregate amount remaining unpaid on account of the principal, premium, interest or any other payment due on the Senior Indebtedness held or represented by each, for application to the payment of all Senior Indebtedness of the Company, as the case may be, remaining unpaid to the extent necessary to pay such Senior Indebt- edness in full in money in accordance with its terms, after giving effect to any concurrent payment or distribution to or for the benefit of the amounts in respect holders of such Senior Indebtedness and Indebtedness, but only to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Trustee in writing within 90 days of such payment of the amounts then due and owing on such the Senior Indebtedness, Indebtedness and only the amounts specified in such notice to the Credit Union Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In Unless Section 4.3 shall be applicable, in the event and during the continuation of any default by the Credit Union Company in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, or in the event that the maturity of any Senior Indebtedness has been or would be permitted upon notice or the passage of time to be accelerated because of a default, then, unless and until such event of default shall have been cured or waived or shall have ceased to exist and such acceleration shall have been rescinded or annulled, no payment or distribution of any kind or character, whether in cash, property or securities shall be made by the Credit Union Company with respect to the principal (including redemption payments) of or premium, if any, or interest on the Senior Subordinated Securities Debentures or on account of the purchase or other acquisition of Debentures by the Company or any other Subsidiary of the Company, in each case unless and until all amounts which may be due or to become due on the such Senior Subordinated Securities pursuant Indebtedness are paid in full in cash or other consideration satisfactory to the terms hereof or thereof. (b) In the event of the acceleration of the maturity of the Senior Indebtedness, then no payment shall be made by the Credit Union with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) Indebtedness. In the event that, notwithstanding the foregoing, any payment is shall be received by any the Trustee or a Holder of a Senior Subordinated Security, any Debenture when such payment is prohibited by the preceding paragraphs paragraph of this Section 7.24.2, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to to, the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify a Responsible Officer of the Credit Union Trustee in writing at its Corporate Trust Office, within 90 days of such payment of the amounts then due and owing on such Senior Indebtednesspayment, and only the amounts amount specified in such notice to the Credit Union Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Company in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, or in the event that the maturity of any Senior Indebtedness has been accelerated because of a default, then, in either case, no payment shall be made by the Credit Union Company with respect to the principal (including redemption payments) of or premium, if any, or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) Securities. In the event of the acceleration of the maturity of the Senior IndebtednessSecurities, then no payment shall be made by the Credit Union Company with respect to the principal (including redemption payments) of or premium, if any, or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, payment in full, full of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) . In the event that, notwithstanding the foregoing, any payment is shall be received by any Holder of a Senior Subordinated Security, the Trustee when such payment is prohibited by the preceding paragraphs paragraph of this Section 7.215.02, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to to, the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Trustee in writing writing, within 90 days of such payment payment, of the amounts then due and owing on such Senior Indebtedness, Indebtedness and only the amounts specified in such notice to the Credit Union Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Company in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, or in the event that the maturity of any Senior Indebtedness has been accelerated because of a default, or if any judicial proceeding shall be pending with respect to any such default, then, in any case, no payment shall be made by the Credit Union Company with respect to the principal (including prepayment) of or premium, if any, or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) Securities. In the event of the acceleration of the maturity of the Senior IndebtednessSecurities, then no payment shall be made by the Credit Union Company with respect to the principal (including prepayments) of or premium, if any, or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, payment in full, full of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) . In the event that, notwithstanding the foregoing, any payment is shall be received by any Holder of a Senior Subordinated Security, the Trustee when such payment is prohibited by the preceding paragraphs paragraph of this Section 7.215.02, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to to, the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts due in respect of such Senior Indebtedness and only to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Trustee in writing writing, within 90 days of such payment payment, of the amounts then due and owing on such Senior Indebtedness, Indebtedness and only the amounts specified in such notice to the Credit Union Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, no payment shall be made by or in the Credit Union event that any event of default with respect to the principal any Senior Indebtedness shall have occurred and be continuing and shall have resulted in such Senior Indebtedness becoming or interest on the Senior Subordinated Securities or any other amounts which may be being declared due on the Senior Subordinated Securities pursuant and payable prior to the terms hereof date on which it would otherwise have become due and payable (unless and until such event of default shall have been cured or thereof. (bwaived or shall have ceased to exist and such acceleration shall have been rescinded or annulled) In or in the event any judicial proceeding shall be pending with respect to any such default in payment or such event of the acceleration of the maturity of the Senior Indebtednessdefault, then no payment shall be made by the Credit Union Company with respect to the principal (including redemption payments) of, or interest on on, the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) Securities. In the event that, notwithstanding the foregoing, any payment is shall be received by the Trustee or any Holder of a Senior Subordinated Security, when such payment is prohibited by the preceding paragraphs paragraph of this Section 7.21102, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to to, the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union in writing Trustee within 90 days of such payment of the amounts then due and owing on such the Senior Indebtedness, Indebtedness and only the amounts specified in such notice to the Credit Union Trustee shall be paid to the holders of Senior Indebtedness; PROVIDED, HOWEVER, that holders of Senior Indebtedness shall not be entitled to receive payment of any such amounts to the extent that such holders would be required by the subordination provisions of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of Indebtedness to pay such notice, provide Investor with (i) a copy of such notice delivered amounts over to the Credit Union and (ii) a certificate signed obligees on behalf trade accounts payable or other liabilities arising in the ordinary course of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified thereinCompany's business.

Default on Senior Indebtedness. (a) In Subject to the provisions of Section 11.05 hereof, in the event and during the continuation of any default by the Credit Union in the payment of principalprincipal of, or premium, if any, or interest on or any other payment due on monetary obligation with respect to, any Senior IndebtednessIndebtedness beyond any applicable period of grace, or in the event that any event of default with respect to any Senior Indebtedness shall have occurred and be continuing, then, unless and until such event of default or default shall have been cured or waived or shall have ceased to exist, no payment of Maturity Payment Amount, any Note Redemption Price or, if applicable, the Acceleration Price or interest shall be made by the Credit Union Corporation with respect to the principal Notes. Nothing contained in this Article XI or elsewhere in this Indenture, or in any of the Notes, shall, however, (a) prevent the Corporation from setting aside in trust as provided in Section 2.04 or depositing with the Trustee or any paying agent, at any time, except during the pendency of any of the proceedings or upon the happening of any of the events referred to in the first paragraph of Section 11.03, or during the continuation of any such default or event of default (not cured or waived), moneys for the payment of the Maturity Payment Amount, any Note Redemption Price or, if applicable, the Acceleration Price of or interest on the Senior Subordinated Securities Notes, or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) In prevent the event application by the Trustee or any paying agent of any moneys deposited with it hereunder by the Corporation to the payment of or on account of the acceleration Maturity Payment Amount, any Note Redemption Price or, if applicable, the Acceleration Price of the maturity of the Senior Indebtedness, then no payment shall be made by the Credit Union with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding Notes, if, at the time of such acceleration shall receive paymentdeposit, in fullthe Trustee or such paying agent, as the case may be, did not have written notice of all amounts due on or in respect any event prohibiting the making of such deposit by the Corporation. The Corporation shall give prompt written notice to the Trustee of any facts which would prohibit the making of any payment of moneys to or by the Trustee, including any dissolution, winding up, liquidation or reorganization of the Corporation within the meaning of this Article XI. Anything in this Article XI or elsewhere in this Indenture contained to the contrary notwithstanding, the Trustee shall not be charged with knowledge of the existence of any Senior Indebtedness (including or of any amounts due upon acceleration). (c) In default or event of default with respect to any Senior Indebtedness or of any other facts which would prohibit the event that, notwithstanding the foregoing, making of any payment is received by any Holder of a Senior Subordinated Security, when such payment is prohibited moneys to or by the preceding paragraphs of this Section 7.2Trustee, such payment unless and until the Trustee shall be held have received notice in trust for the benefit of, and shall be paid over or delivered writing to that effect signed by the Holder an officer of the Senior Subordinated Securities to the holders Corporation or by a holder of Senior Indebtedness who shall have been certified by the Corporation or their respective representativesotherwise established to the reasonable satisfaction of the Trustee to be such holder, or to the trustee or trustees under any indenture pursuant to which any by a Representative of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union in writing within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Company in the payment of principal, premium, interest or any other payment due on any Senior IndebtednessIndebtedness of the Company, in the event that any applicable grace period with respect to such default has ended and such default has not been cured or waived or ceased to exist, or in the event that the maturity of any Senior Indebtedness of the Company has been accelerated because of a default, then, in any of these cases, no payment shall be made by the Credit Union Company with respect to the principal (including redemption payments) of or premium, if any, or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) Securities. In the event of the acceleration of the maturity of the Senior IndebtednessSecurities, then no payment shall be made by the Credit Union Company with respect to the principal (including redemption payments) of or premium, if any, or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness of the Company outstanding at the time of such acceleration shall receive payment, payment in full, of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) . In the event that, notwithstanding the foregoing, any payment is shall be received by any Holder of a Senior Subordinated Security, the Trustee when such payment is prohibited by the preceding paragraphs of this Section 7.215.02, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to to, the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Trustee in writing writing, within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, Indebtedness and only the amounts specified in such notice to the Credit Union Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event of and during the continuation of any default by the Credit Union in the payment of principal, premiumprincipal of, interest or any other payment due premium, if any, on any Senior Indebtedness, no or any Obligation owing from time to time under or in respect of Senior Indebtedness, or in the event that any event of default (other than a payment shall be made by the Credit Union default) with respect to the principal any Senior Indebtedness shall have occurred and be continuing and shall have resulted in such Senior Indebtedness becoming or interest on the Senior Subordinated Securities or any other amounts which may be being declared due on the Senior Subordinated Securities pursuant and payable prior to the terms hereof or thereof. (b) In the event of the acceleration of the maturity of the Senior Indebtednessdate on which it would otherwise have become due and payable, then no payment shall be made by or on behalf of the Credit Union Company on account of principal of, premium, if any, and interest (and Liquidated Damages, if any) on the Notes (other than payments in the form of Reorganization Securities), unless and until such default shall have been cured or waived in writing in accordance with the instruments governing such Senior Indebtedness or such acceleration shall have been rescinded or annulled; (b) If any event of default other than as described in clause (a) above with respect to the principal or interest on the any Designated Senior Subordinated Securities or any other amounts which may Indebtedness shall have occurred and be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until continuing permitting the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts due on or in respect of such Designated Senior Indebtedness (including any amounts or their Representative or Representatives) to declare such Designated Senior Indebtedness due upon accelerationand payable prior to the date on which it would otherwise have become due and payable, then no payment shall be made by or on behalf of the Company on account of the principal of, premium, if any, and interest (and Liquidated Damages, if any) on the Notes (other than payments in the form of Reorganization Securities) during the period (a "Payment Blockage Period") commencing on the date the Company or the Trustee receives written notice (a "Payment Notice") of such event of default (which notice shall be binding on the Trustee and the Holders as to the occurrence of such a payment default or nonpayment event of default) from the Credit Agent (or other holders of Designated Senior Indebtedness or their Representative or Representatives) and ending on the earliest of: (A) 179 days after such date; (B) the date, if any, on which such Designated Senior Indebtedness to which such default relates is paid in full in cash or such default is cured or waived in writing in accordance with the instruments governing such Designated Senior Indebtedness by the holders of such Designated Senior Indebtedness; and (C) the date on which the Trustee receives written notice from the Credit Agent (or other holders of Designated Senior Indebtedness or their Representative or Representatives), as the case may be, terminating the Payment Blockage Period. (c) In During any consecutive 360-day period, the event that, notwithstanding the foregoing, any payment is received by any Holder aggregate of a Senior Subordinated Security, when such payment is prohibited by the preceding paragraphs of this Section 7.2, such payment all Payment Blockage Periods shall not exceed 179 days and there shall be held a period of at least 181 consecutive days in trust for the benefit of, and shall be paid over each consecutive 360-day period when no Payment Blockage Period is in effect. No event of default which existed or delivered by the Holder of the Senior Subordinated Securities was continuing with respect to the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or for which notice commencing a trustee) notify Payment Blockage Period was given on the Credit Union in writing within 90 days of date such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union Payment Blockage Period commenced shall be paid to or be made the holders basis for the commencement of any subsequent Payment Blockage Period unless such Senior Indebtedness. The Credit Union shall, within ten (10) business days event of receipt default is cured or waived for a period of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified thereinnot less than 90 consecutive days.

Default on Senior Indebtedness. (a) In Upon any Senior Indebtedness becoming due and payable, whether at the event stated maturity thereof or by acceleration or otherwise, such Senior Indebtedness shall first be irrevocably and during indefeasibly paid in full in cash, or the continuation immediate payment thereof duly provided for in cash, before the Company or any Person acting on behalf of the Company shall directly or indirectly pay, prepay, redeem, retire, repurchase or otherwise acquire for value, or make any default by deposit pursuant to Article 8 in respect of, or make any other prepayment, payment or distribution (whether in cash, property, securities or a combination thereof or otherwise) on account of the Credit Union in the payment principal of principal, (or premium, interest or any other payment due on any Senior Indebtedness, no payment shall be made by the Credit Union with respect to the principal if any) or interest on the Senior Subordinated on, any Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof(each, a "Security Payment"). (b) In the event of the acceleration of the maturity of the Senior Indebtedness, then no payment No Security Payment shall be made by the Credit Union with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding if, at the time of such acceleration shall receive payment, Security Payment there exists a default in full, payment of all amounts due or any portion of any principal of (and premium, if any) and interest and fees, expenses, costs and other obligations on Senior Indebtedness, and such default shall not have been cured or waived in respect writing or the benefits of this sentence waived in writing by or on behalf of the holders of such Senior Indebtedness (including any amounts due upon acceleration)Indebtedness. (c) In addition, during the continuance of any event that, notwithstanding the foregoing, any payment is received by any Holder of default (other than a Senior Subordinated Security, when such payment is prohibited by the preceding paragraphs default referred to in subsection (b) of this Section 7.210.03) with respect to any Specified Senior Indebtedness, as such payment shall be held event of default is defined therein or in trust for the benefit ofinstrument under which such Specified Senior Indebtedness is outstanding, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to permitting the holders of such Specified Senior Indebtedness or their respective representativesto accelerate the maturity thereof under the terms of such Specified Senior Indebtedness, or and upon written notice of such event of default given by the Principal Agent to the trustee or trustees under any indenture pursuant Trustee, with a copy to which any the Company (the delivery of such Senior Indebtedness may shall not affect the validity of the notice to the Trustee), then, unless and until such event of default shall have been issuedcured or waived or shall have ceased to exist, as their respective interests may appearno Security Payment shall be made; provided, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that if the holders of the Specified Senior Indebtedness to which the default relates have not declared such Specified Senior Indebtedness to be immediately due and payable within 179 days after the occurrence of such default (or their representative have declared such Specified Senior Indebtedness to be immediately due and payable and within such period have rescinded such declaration of acceleration), then, subject to the provisions of Section 10.02 and 10.03(a), the Company shall resume making any and all unpaid scheduled Security Payments. Any period during which any Security Payment is prohibited pursuant to the immediately preceding sentence is referred to in this Article as a "payment blockage period." Notwithstanding any other provisions of this Article or representatives or any other provision of this Indenture, in no event shall a trustee) notify payment blockage period under this Article extend beyond 179 days from the Credit Union in writing within 90 days of date on which such payment blockage period commenced. Not more than one payment blockage period may be commenced within any consecutive 365-day period with respect to the Securities. For all purposes of this Article, no event of default that existed or was continuing on the date of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice commencement of any payment blockage period with respect to the Credit Union Specified Senior Indebtedness initialing such payment blockage period shall be, or be paid to made, the basis for the commencement of a second payment blockage period by the holder or holders of such Specified Senior Indebtedness at any time after the 365-day period referred to in the previous sentence unless such event of default shall have been cured or waived for a period of not less than 90 consecutive days. (d) The Company covenants that it will, upon request of the Trustee, deliver an Officers' Certificate (with copies thereof to the Representative of each class of Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth showing in such notice is true and correct and confirming that the Holder of reasonable detail the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.Indebtedness

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union in the No payment of principalprincipal (including prepayment) of, premium, interest or any other payment due on any Senior Indebtednessif any, no payment shall be made by the Credit Union with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on made at any time when (i) any Senior Indebtedness is not paid when due, and any applicable grace period with respect to such default has ended and such default has not been cured or waived or ceased to exist, or (ii) the maturity of any Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) Indebtedness has been accelerated because of a default. In the event of the acceleration of the maturity of the Senior IndebtednessSecurities due to an Event of Default, then no payment shall be made by the Credit Union Company with respect to the principal (including prepayments) of or premium, if any, or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, payment in full, full of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) . In the event that, notwithstanding the foregoing, any payment is shall be received by any Holder of a Senior Subordinated Security, the Trustee when such payment is prohibited by the preceding paragraphs of this Section 7.215.02, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to to, the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Trustee in writing writing, within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, Indebtedness and only the amounts specified in such notice to the Credit Union Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. If there should occur any receivership, insolvency, assignment for the benefit of creditors, bankruptcy, reorganization or arrangements with creditors (a) In whether or not pursuant to bankruptcy or other insolvency laws), sale of all or substantially all of the event and during the continuation of any default by the Credit Union in the payment of principalassets, premiumdissolution, interest liquidation or any other payment due marshalling of the assets and liabilities of the Company, then no amount shall be paid by the Company in respect of the principal of or interest on the Notes at the time outstanding, unless and until the principal of and interest on the Senior Indebtedness then outstanding shall be paid in full. If there occurs an event of default that has been declared in writing to the Registered Holders with respect to any Senior Indebtedness, or in the instrument under which any Senior Indebtedness is outstanding, permitting the holder of such Senior Indebtedness to accelerate the maturity thereof, no payment shall be made by the Credit Union with in respect to of the principal of or interest on the Senior Subordinated Securities Notes, and no litigation, bankruptcy proceeding, foreclosure, set-off or action to take possession of Collateral shall be commenced by Century to enforce any other amounts which may be due on of its remedies under the Senior Subordinated Securities pursuant to the terms hereof or thereof. Notes, unless (bi) In the such event of the acceleration of the maturity of the Senior Indebtedness, then no payment default shall be made have been cured or waived by the Credit Union with respect holder of such Senior Indebtedness or shall have ceased to the principal exist, or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders (ii) payment of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, have been accelerated and all Senior Indebtedness shall have been paid in full, or (iii) within three (3) months after the happening of all amounts due on or in respect such event of default (a “Payment Blockage Period”), the maturity of such Senior Indebtedness shall not have been accelerated, or (including iv) the holder of any amounts due upon acceleration). (c) In the event that, notwithstanding the foregoing, any payment is received by any Holder of a Senior Subordinated Security, when such payment is prohibited by the preceding paragraphs of this Section 7.2, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to the holders of Indebtedness other than Senior Indebtedness shall have commenced any litigation, bankruptcy proceeding, foreclosure, set-off or their respective representativesaction to take possession of Collateral to enforce its remedies at law, in equity or to under the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union in writing within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union shall be paid to the holders of such Senior Indebtednessrelevant loan [*] = CERTAIN INFORMATION ON THIS PAGE HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified thereinCONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS.

Default on Senior Indebtedness. ‌ (a) In the event and during the continuation of any default by the Credit Union in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, no payment shall be made by the Credit Union with respect to the principal or interest on the Senior Subordinated Securities Debt or any other amounts which may be due on the Senior Subordinated Securities Debt pursuant to the terms hereof or thereof. (b) In the event of the acceleration of the maturity of the Senior Indebtedness, then no payment shall be made by the Credit Union with respect to the principal or interest on the Senior Subordinated Securities Debt or any other amounts which may be due on the Senior Subordinated Securities Debt pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) In the event that, notwithstanding the foregoing, any payment is received by any Holder of a Senior Subordinated Security, when such payment is prohibited by the preceding paragraphs of this Section 7.2, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities Security to the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union in writing within 90 ninety (90) days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.ten‌‌

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Company in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, in the event that any applicable grace period with respect to such default has ended and such default has not been cured or waived or ceased to exist, or in the event that the maturity of any Senior Indebtedness has been accelerated because of a default, then, in any of these cases, no payment shall be made by the Credit Union Company with respect to the principal (including redemption payments) of or premium, if any, or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) Securities. In the event of the acceleration of the maturity of the Senior IndebtednessSecurities, then no payment shall be made by the Credit Union Company with respect to the principal (including redemption payments) of or premium, if any, or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, payment in full, of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) . In the event that, notwithstanding the foregoing, any payment is shall be received by any Holder of a Senior Subordinated Security, the Trustee when such payment is prohibited by the preceding paragraphs of this Section 7.215.2, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to to, the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Trustee in writing writing, within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, Indebtedness and only the amounts specified in such notice to the Credit Union Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default Default by the Credit Union Company in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, or in the event that the maturity of any Senior Indebtedness has been accelerated because of an Event of Default, or if any judicial proceeding shall be pending with respect to any such Default, then, in any such case, no payment shall be made by the Credit Union Company with respect to the principal (including redemption payments) of or interest (including contingent interest) on the Senior Subordinated Securities Debentures or any other amounts which may be due on the Senior Subordinated Securities Debentures pursuant to the terms hereof or thereof. (b) otherwise. In the event of the acceleration of the maturity of the Senior IndebtednessDebentures, then no payment shall be made by the Credit Union Company with respect to the principal (including redemption payments) or interest (including contingent interest) on the Senior Subordinated Securities Debentures or any other amounts which may be due on the Senior Subordinated Securities Debentures pursuant to the terms hereof or thereof otherwise until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, payment in full, of all amounts due on or in respect full of such Senior Indebtedness (including any amounts due upon acceleration). (c) . In the event that, notwithstanding the foregoing, any payment is shall be received by any Holder of a Senior Subordinated Security, the Trustee when such payment is prohibited by the preceding paragraphs of this Section 7.25.02 and at a time when a Responsible Office of the Trustee or such Holder has actual knowledge that such payment should not have been made to it, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to to, the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Trustee in writing within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event and during the continuation of any If there exists a default by the Credit Union in the payment of principalwhen due (whether at maturity or upon acceleration or mandatory prepayment, premium, interest or any other payment due on any Senior Indebtedness, no principal installment payment shall be made by the Credit Union with respect to the principal date or interest payment date, or otherwise) of any Senior Indebtedness and such default shall not have been cured, or such default, or the benefits of this sentence, shall not have been waived in writing by or on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) In the event behalf of the acceleration of the maturity of the Senior Indebtedness, then no payment shall be made by the Credit Union with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon accelerationor their Representative, if any). (c) In the event that, notwithstanding the foregoing, then any payment is received by any Holder on account of a Senior Subordinated Securityprincipal of, when such payment is prohibited by or interest on this Security which the preceding paragraphs holder of this Section 7.2Security would then be entitled to receive, such payment shall be held in trust but for the benefit ofprovisions of this subsection 3.3(a), and shall instead be paid over or delivered by over, in the Holder following order of the Senior Subordinated Securities to the holders of Senior Indebtedness or their respective representativespriority, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union in writing within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union shall be paid to the holders of such Senior Indebtedness. The Indebtedness (or their Representative, if any) until all amounts of Senior Indebtedness then due and payable have been paid in full, prior to any direct or indirect payment by the Company or such holders of any principal of or interest on the Security: first, so long as any Senior Indebtedness then due and payable under or with respect to the Credit Union shallAgreement is outstanding, within ten (10) business days of receipt to the holders of such noticeSenior Indebtedness (pro rata on the basis of the respective amounts of such Senior Indebtedness held by them) (or their respective Representatives) and, provide Investor withsecond, if and only if all Senior Indebtedness then due and payable under or with respect to the Credit Agreement is paid in full, to the holders of any other Senior Indebtedness then due and payable (pro rata on the basis of the respective amounts of such other Senior Indebtedness held by them) or their respective Representatives. (b) The Company may not, directly or indirectly, make any payment on account of the principal of or interest on this Security during the period (a "Deferral Period") from the date the Company receives (1) from the Agent under the Credit Agreement, (2) from a Representative or (3) from a holder of Senior Indebtedness that has no Representative, an effective notice (a "Deferral Notice") of: (i) the existence of a copy default in the payment when due (whether at maturity or upon acceleration or mandatory prepayment or on any principal installment payment date or interest payment date, or otherwise) of such notice delivered to the Credit Union and any Senior Indebtedness (a "Payment Default"); or (ii) the existence of any event of default (other than a certificate signed on behalf Payment Default) of the general type referred to in, or resulting from the Company's failure to perform obligations of the general type referred to in Sections 6.01(iii), 6.01(iv)(B), 7.01 (except the last sentence thereof), 7.02, 7.06, 7.09, 8.01 through 8.05, 8.07 through 8.12, 8.14, 8.15, 8.16, 9.01 through 9.06, 11.01(e), 11.01(f) through 11.01(n), and 11.01(p) of the Credit Union Agreement as originally executed, whether such event of default arises under the Credit Agreement or under any other agreement or instrument pursuant to which any other Senior Indebtedness is issued, in each instance as now in effect or as hereafter from time to time modified or amended, without necessity of consent by or notice or the holder of this Security (a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein."Specified Covenant Default"),

Default on Senior Indebtedness. No payment on account of principal of, premium or interest on, or other amounts due with respect to this Note shall be made, during a single continuous period of 179 days (athe "Standstill Period") In (x) commencing on the first date on which the Borrower and the Holder have each received written notice from the Designated Representative declaring the commencement of the Standstill Period as a result of (i) there having occurred a default in any payment of principal of, premium or interest on, or fees or other expenses incurred to the holders of the Designated Senior Indebtedness with respect to, any Designated Senior Indebtedness beyond any applicable grace period with respect thereto, or (ii) there having occurred an event and during the continuation of any default by the Credit Union (other than a default in the payment of principal, premium, interest or amounts due thereon) with respect to any other payment due on any Designated Senior Indebtedness, no payment as defined in the instrument under which the same is outstanding, beyond any applicable grace period with respect thereto, permitting the holders thereof to accelerate the maturity thereof, and such event of default shall be made not have been cured or waived or shall not have ceased to exist and (y) ending on the earliest of (i) 179 days following the commencement of such period, (ii) the date on which all such defaults and events of default are cured, waived or cease to exist, (iii) the date on which the Designated Senior Indebtedness is paid in full or otherwise discharged or (iv) the date on which the Standstill Period shall have been terminated in writing by the Credit Union Designated Representative, after which the Borrower shall promptly resume making any and all required payments in respect of this Note, including any missed payments. In the event that notwithstanding the provisions of this Section 7.3, the Borrower shall during the Standstill Period make any payment of principal of, interest on, or other amounts due with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant this Note to the terms hereof or thereof. (b) In Holder after receipt by the event Holder of written notice from the Designated Representative of the acceleration commencement of the maturity of the Senior IndebtednessStandstill Period, then no payment shall be made by the Credit Union with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) In the event that, notwithstanding the foregoing, any payment is received by any Holder of a Senior Subordinated Security, when such payment is prohibited by the preceding paragraphs of this Section 7.2, such payment shall be held by the Holder in trust for the benefit of, and shall be paid forthwith over or and delivered by the Holder of the Senior Subordinated Securities to to, the holders of Senior Indebtedness (pro rata as to each of such holders on the basis of the respective amounts of Senior Indebtedness held by them after due written notice of the names of such holders and the respective amount of the indebtedness held by such holders) or their respective representative or representatives, or for application to the trustee or trustees under any indenture pursuant payment of all Senior Indebtedness remaining unpaid, to which any the extent necessary to pay all Senior Indebtedness remaining unpaid in full in accordance with the terms of such Senior Indebtedness may have been issued, as their respective interests may appear, but only after giving effect to the extent of the amounts in respect of such Senior Indebtedness and any concurrent payment or distribution to the extent that or for the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union in writing within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Corporation in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, or in the event that the maturity of any Senior Indebtedness has been accelerated because of a default, then, in either case, no payment shall be made by the Credit Union Corporation with respect to the principal (including prepayment payments) of or interest on the Senior Subordinated Securities (including Compounded Interest and Additional Sums, if any, or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) ). In the event of the acceleration of the maturity of the Senior IndebtednessSecurities, then no payment shall be made by the Credit Union Corporation with respect to the principal (including prepayment payments) of or interest on the Senior Subordinated Securities (including Compounded Interest and Additional Sums, if any, or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof thereof) until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, payment in full, full (or amounts sufficient to make such payment have been irrevocably deposited or placed in trust for the sole benefit of all amounts due on or in respect the holders of the Senior Indebtedness) of such Senior Indebtedness (including any amounts due upon acceleration). (c) . In the event that, notwithstanding the foregoing, any payment is received by the Debenture Trustee, or any Holder of a Senior Subordinated SecuritySecurityholder, when such payment is prohibited by the preceding paragraphs of this Section 7.215.02, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of Debenture Trustee (if the Senior Subordinated Securities Notice requested by Section 15.06 has been received by the Debenture Trustee) or by any Securityholder, to the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Debenture Trustee in writing within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union Debenture Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Company in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, or in the event that the maturity of any Senior Indebtedness has been accelerated because of a default and such acceleration has not been rescinded or canceled, then, in either case, no payment shall be made by the Credit Union Company with respect to the principal (including redemption payments) of or interest on the Senior Subordinated Securities Debentures (including Compounded Interest and Additional Sums, if any, or any other amounts which may be due on the Senior Subordinated Securities Debentures pursuant to the terms hereof or thereof. (b) ). In the event of the acceleration of the maturity of the Senior IndebtednessDebentures, then no payment shall be made by the Credit Union Company with respect to the principal (including redemption payments) of or interest on the Senior Subordinated Securities Debentures (including Compounded Interest and Additional Sums, if any, or any other amounts which may be due on the Senior Subordinated Securities Debentures pursuant to the terms hereof or thereof thereof) until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts Allocable Amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) . In the event that, notwithstanding the foregoing, any payment is received by the Trustee, or any Holder of a Senior Subordinated SecurityHolder, when such payment is prohibited by the preceding paragraphs of this Section 7.215.02, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of Trustee (if the Senior Subordinated Securities notice requested by Section 15.06 has been received by the Trustee) or by any Holder, to the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts Allocable Amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Trustee in writing within 90 days prior to the Trustee's receipt of such payment of the amounts Allocable Amounts then due and owing on such Senior Indebtedness, and only the amounts Allocable Amounts specified in such notice to the Credit Union Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Bank in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, no payment shall be made by the Credit Union Bank with respect to the principal or interest on the CDCI Senior Subordinated Securities or any other amounts which may be due on the CDCI Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) In the event of the acceleration of the maturity of the Senior Indebtedness, then no payment shall be made by the Credit Union Bank with respect to the principal or interest on the CDCI Senior Subordinated Securities or any other amounts which may be due on the CDCI Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) In the event that, notwithstanding the foregoing, any payment is received by any Holder of a CDCI Senior Subordinated Security, when such payment is prohibited by the preceding paragraphs of this Section 7.26.2, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the CDCI Senior Subordinated Securities to the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Bank in writing within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union Bank shall be paid to the holders of such Senior Indebtedness. The Credit Union Bank shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union Bank and (ii) a certificate signed on behalf of the Credit Union Bank by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the CDCI Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. In (a) In the event and during the continuation of any default by the Credit Union Corporation in the payment of principal, premium, principal of or interest or any other payment due on any Senior Indebtedness, or in the event that the maturity of any Senior Indebtedness has been accelerated because of a default and such default shall not have been cured or waived and such acceleration has not been rescinded or canceled or (b) the event any judicial proceeding shall be pending with respect to any such default in payment or event of default, then, in either case, no payment of any kind or character, whether in cash, properties or securities (including any Junior Subordinated Payment (as defined in Section 15.3 hereto)) shall be made by the Credit Union Corporation with respect to the principal (including prepayment payments) of or interest on the Senior Subordinated Securities (including Compounded Interest and Additional Sums, if any, or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) or on account of the purchase or other acquisition of Securities by the Corporation or any Subsidiary, in each case unless and until the holders of such Senior Indebtedness are paid in full all Allocable Amounts due on or in respect of such Senior Indebtedness. In the event of the acceleration of the maturity of the Senior IndebtednessSecurities, then no payment of any kind or character, whether in cash, properties or securities (including any Junior Subordinated Payment) shall be made by the Credit Union Corporation with respect to the principal (including prepayment payments) of or interest on the Senior Subordinated Securities (including Compounded Interest and Additional Sums, if any, or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof thereof) or on account of the purchase or other acquisition of Securities by the Corporation or any Subsidiary, in each case until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts Allocable Amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) . In the event that, notwithstanding the foregoing, the Corporation shall make any payment is received by to the Debenture Trustee or any Holder of a Senior Subordinated Security, when such payment is Securityholder prohibited by the preceding paragraphs foregoing provisions of this Section 7.2Section, and if such fact shall, at or prior to the time of such payment, have been made known to the Debenture Trustee or, as the case may be, such Securityholder, then and in such event such payment shall be held in trust for the benefit of, and shall be paid over or and delivered by the Holder of the Senior Subordinated Securities forthwith to the holders Corporation. The provisions of Senior Indebtedness or their respective representatives, or this Section 15.2 shall not apply to the trustee or trustees under any indenture pursuant payment with respect to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union in writing within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified thereinSection 15.3 applies.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union in the No payment of principalprincipal (including redemption payments) of, premium, interest or any other payment due on any Senior Indebtednessif any, no payment shall be made by the Credit Union with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on made at any time when (i) any Senior Indebtedness is not paid when due, (ii) any applicable grace period with respect to such default has ended and such default has not been cured or waived or ceased to exist, or (iii) the maturity of any Senior Subordinated Securities pursuant to the terms hereof or thereof. (b) Indebtedness has been accelerated because of a default. In the event of the acceleration of the maturity of the Senior IndebtednessSecurities, then no payment shall be made by the Credit Union Company with respect to the principal (including redemption payments) of or premium, if any, or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, payment in full, full of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) . In the event that, notwithstanding the foregoing, any payment is shall be received by any Holder of a Senior Subordinated Security, the Trustee when such payment is prohibited by the preceding paragraphs paragraph of this Section 7.215.02, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated Securities to to, the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Trustee in writing writing, within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, Indebtedness and only the amounts specified in such notice to the Credit Union Trustee shall be paid to the holders of such Senior Indebtedness. The Credit Union shall, within ten (10) business days of receipt of such notice, provide Investor with (i) a copy of such notice delivered to the Credit Union and (ii) a certificate signed on behalf of the Credit Union by a Senior Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated Securities should pay or deliver the amounts specified in such notice in the manner specified therein.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Company in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, no payment shall be made by the Credit Union Company with respect to the principal or interest on the Senior Subordinated EQ2 Securities or any other amounts which may be due on the Senior Subordinated EQ2 Securities pursuant to the terms hereof or thereof. (b) In the event of the acceleration of the maturity of the Senior Indebtedness, then no payment shall be made by the Credit Union Company with respect to the principal or interest on the Senior Subordinated EQ2 Securities or any other amounts which may be due on the Senior Subordinated EQ2 Securities pursuant to the terms hereof or thereof until the holders of all Senior Indebtedness outstanding at the time of such acceleration shall receive payment, in full, of all amounts due on or in respect of such Senior Indebtedness (including any amounts due upon acceleration). (c) In the event that, notwithstanding the foregoing, any payment is received by any Holder of a Senior Subordinated an EQ2 Security, when such payment is prohibited by the preceding paragraphs of this Section 7.26.2, such payment shall be held in trust for the benefit of, and shall be paid over or delivered by the Holder of the Senior Subordinated EQ2 Securities to the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent of the amounts in respect of such Senior Indebtedness and to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Credit Union Company in writing within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness, and only the amounts specified in such notice to the Credit Union Company shall be paid to the holders of such Senior Indebtedness. The Credit Union Company shall, within ten (10) business days of receipt of such notice, provide Investor with Treasury with (i) a copy of such notice delivered to the Credit Union Company and (ii) a certificate signed on behalf of the Credit Union Company by a Senior an Executive Officer certifying that the information set forth in such notice is true and correct and confirming that the Holder of the Senior Subordinated EQ2 Securities should pay or deliver the amounts specified in such notice in the manner specified therein.