Common use of Defaults and Remedies Clause in Contracts

Defaults and Remedies. The Events of Default relating to the Securities are defined in Section 5.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall become due and payable immediately without further action or notice. Holders may not enforce the Indenture or the Securities except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default.

Appears in 29 contracts

Samples: Supplemental Indenture (American Tower Corp /Ma/), Supplemental Indenture (American Tower Corp /Ma/), Supplemental Indenture (American Tower Corp /Ma/)

AutoNDA by SimpleDocs

Defaults and Remedies. The Certain events of bankruptcy or insolvency are Events of Default relating that will result in the principal amount of the Securities, together with premium, if any, and accrued and unpaid interest thereon, becoming due and payable immediately upon the occurrence of such Events of Default. If any other Event of Default with respect to the Securities are defined in Section 5.01 of the Base Indenture. If any Event of Default occurs and is continuing, then in every such case the Trustee or the Holders of at least not less than 25% in aggregate principal amount of the Securities then Outstanding may declare the principal amount of all the Securities, together with premium, if any, and accrued and unpaid interest thereon, to be due and payable immediately in the manner and with the effect provided in the Indenture. Notwithstanding the preceding sentence, however, if at any time after such a declaration of acceleration has been made, the Holders of a majority in principal amount of the then outstanding Securities Outstanding Securities, by written notice to the Trustee, may declare rescind such declaration and annul its consequences if the rescission would not conflict with any judgment or decree of a court already rendered and if all Events of Default with respect to the Securities, other than the nonpayment of the principal, premium, if any, or interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall which has become due and payable immediately without further action solely by such declaration acceleration, shall have been cured or noticeshall have been waived. No such rescission shall affect any subsequent default or shall impair any right consequent thereon. Holders of Securities may not enforce the Indenture or the Securities except as provided in the Indenture. The Trustee may require indemnity or security satisfactory to it before it enforces the Indenture or the Securities. Subject to certain limitations, Holders of a majority in aggregate principal amount of the Securities then outstanding Securities Outstanding may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default (except a Default relating power with respect to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of DefaultSecurities.

Appears in 26 contracts

Samples: Supplemental Indenture (Enterprise Products Partners L.P.), Supplemental Indenture (Enterprise Products Partners L.P.), Thirty Seventh Supplemental Indenture (Enterprise Products Partners L.P.)

Defaults and Remedies. The Certain events of bankruptcy or insolvency are Events of Default relating that will result in the principal amount of the Securities, together with premium, if any, and accrued and unpaid interest thereon, becoming due and payable immediately upon the occurrence of such Events of Default. If any other Event of Default with respect to the Securities are defined in Section 5.01 of the Base Indenture. If any Event of Default occurs and is continuing, then in every such case the Trustee or the Holders of at least not less than 25% in aggregate principal amount of the Securities then outstanding may declare the principal amount of all the Securities, together with premium, if any, and accrued and unpaid interest thereon, to be due and payable immediately in the manner and with the effect provided in the Indenture. Notwithstanding the preceding sentence, however, if at any time after such a declaration of acceleration has been made, the Holders of a majority in principal amount of the then outstanding Securities Securities, by written notice to the Trustee, may declare rescind such declaration and annul its consequences if the rescission would not conflict with any judgment or decree of a court already rendered and if all Events of Default with respect to the Securities, other than the nonpayment of the principal, premium, if any, or interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall which has become due and payable immediately without further action solely by such declaration acceleration, shall have been cured or noticeshall have been waived. No such rescission shall affect any subsequent default or shall impair any right consequent thereon. Holders of Securities may not enforce the Indenture or the Securities except as provided in the Indenture. The Trustee may require indemnity or security satisfactory to it before it enforces the Indenture or the Securities. Subject to certain limitations, Holders of a majority in aggregate principal amount of the Securities then outstanding Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default.

Appears in 17 contracts

Samples: Eighth Supplemental Indenture (Energy Transfer Equity, L.P.), Seventh Supplemental Indenture (Energy Transfer Equity, L.P.), Supplemental Indenture (Energy Transfer Equity, L.P.)

Defaults and Remedies. The Events of Default relating to are set forth in the Securities are defined in Section 5.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediatelypayable. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture or the Securities Notes except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in writing in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default or Event of Default (except a Default or Event of Default relating to the payment of principal, premium, if any, principal or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding by written notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default or Event of Default and its consequences under the Indenture except a continuing Default or Event of Default in the payment of interest on, or the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting HolderNotes. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default.

Appears in 16 contracts

Samples: Global Note (Istar Financial Inc), Global Note (Istar Financial Inc), Global Note (Istar Financial Inc)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, interest on, any of the Securities Notes held by a non-consenting Holder. The Company is Issuers are required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is Issuers are required upon within ten (10) Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultand what action the Issuers propose to take with respect thereto.

Appears in 12 contracts

Samples: Indenture (OUTFRONT Media Inc.), Indenture (OUTFRONT Media Inc.), Indenture (OUTFRONT Media Inc.)

Defaults and Remedies. The Events If an Event of Default occurs (other than an Event of Default relating to the Securities are defined in Section 5.01 certain events of bankruptcy, insolvency or reorganization of the Base Indenture. If any Event of Default occurs Company) and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding the foregoingSecurities, in the case of an Event of Default arising from certain events of bankruptcy or insolvencyeach case, all outstanding Securities shall become due and payable immediately without further action or notice. Holders may not enforce the Indenture or the Securities except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee Company, may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of declare the principal of, premium, if any, and accrued but unpaid interest on all the Securities to be due and payable. If an Event of Default relating to certain events of bankruptcy, insolvency or interestreorganization of the Company occurs, the principal of, premium, if any, onand interest on all the Securities shall become immediately due and payable without any declaration or other act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in principal amount of the outstanding Securities may rescind any such acceleration with respect to the Securities and its consequences. If an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any of the Securities held by a non-consenting Holder. The Company is required to deliver rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee annually reasonable indemnity or security against any loss, liability or expense and certain other conditions are complied with. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy with respect to the Indenture or the Securities unless (i) such Holder has previously given the Trustee notice that an Event of Default is continuing, (ii) the Holders of at least 25% in principal amount of the outstanding Securities have requested the Trustee in writing to pursue the remedy, (iii) such Holders have offered the Trustee reasonable security or indemnity against any loss, liability or expense, (iv) the Trustee has not complied with such request within 60 days after the receipt of the request and the offer of security or indemnity and (v) the Holders of a statement regarding compliance majority in principal amount of the outstanding Securities have not given the Trustee a direction inconsistent with such request within such 60-day period. Subject to certain restrictions, the Holders of a majority in principal amount of the outstanding Securities are given the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may refuse to follow any direction that conflicts with law or the Indenture or that the Trustee determines is unduly prejudicial to the rights of any other Holder or that would involve the Trustee in personal liability. Prior to taking any action under the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such Default or Event of Defaultaction.

Appears in 12 contracts

Samples: Indenture (Goodman Holding CO), Indenture (MPM Silicones, LLC), Indenture (American Railcar Industries, Inc./De)

Defaults and Remedies. The Events If an Event of Default occurs (other than an Event of Default relating to the Securities are defined in Section 5.01 certain events of bankruptcy, insolvency or reorganization of the Base Indenture. If any Event of Default occurs Company) and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, principal of and accrued but unpaid interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediatelypayable. Notwithstanding the foregoing, in the case of If an Event of Default arising from relating to certain events of bankruptcy bankruptcy, insolvency or insolvencyreorganization of the Company occurs, the principal of and interest on all outstanding the Securities shall become immediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in principal amount of the outstanding Securities may not rescind any such acceleration with respect to the Securities and its consequences. If an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any of the rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee reasonable indemnity or security against any loss, liability or expense and certain other conditions are complied with. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy with respect to the Indenture or the Securities except as provided unless (i) such Holder has previously given the Trustee notice that an Event of Default is continuing, (ii) Holders of at least 25% in principal amount of the Indenture. Subject outstanding Securities have requested the Trustee in writing to certain limitationspursue the remedy, (iii) such Holders have offered the Trustee reasonable security or indemnity against any loss, liability or expense, (iv) the Trustee has not complied with such request within 60 days after the receipt of the request and the offer of security or indemnity and (v) the Holders of a majority in aggregate principal amount of the then outstanding Securities may direct have not given the Trustee in its exercise of any trust or powera direction inconsistent with such request within such 60-day period. The Trustee may withhold from Holders of Subject to certain restrictions, the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the outstanding Securities then outstanding by notice are given the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may on behalf of the Holders of all of the Securities waive refuse to follow any existing Default and its consequences under direction that conflicts with law or the Indenture except a continuing Default in payment of or that the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company Trustee determines is required to deliver unduly prejudicial to the rights of any other Holder or that would involve the Trustee annually a statement regarding compliance with in personal liability. Prior to taking any action under the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such Default or Event of Defaultaction.

Appears in 12 contracts

Samples: Indenture (TRW Automotive Holdings Corp), Indenture (TRW Automotive Inc), Indenture (TRW Automotive Inc)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 2530% in principal amount of the then outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default or and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, interest on, any of the Securities Notes held by a non-consenting Holder. The Company Holdings III is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company Holdings III is required upon within five (5) Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultand what action the Issuer proposes to take with respect thereto.

Appears in 12 contracts

Samples: Indenture (Freescale Semiconductor, Ltd.), Indenture (Freescale Semiconductor, Ltd.), Indenture (NXP Semiconductors N.V.)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 2530% in aggregate principal amount of the then outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, interest or interestAdditional Interest, if any) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding Notes by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default or and its consequences under the Indenture except a continuing Default in payment of the principal ofprincipal, premium, if any, interest or interestAdditional Interest, if any, on, any of the Securities Notes held by a non-consenting Holder. The Company Issuer and each Guarantor (to the extent that such Guarantor is so required under the Trust Indenture Act) is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company Issuer is required upon within five Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultand what action the Issuer proposes to take with respect thereto.

Appears in 11 contracts

Samples: Indenture (Energy Future Intermediate Holding CO LLC), Seventh Supplemental Indenture (Energy Future Intermediate Holding CO LLC), Second Supplemental Indenture (Energy Future Holdings Corp /TX/)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 2530.0% in principal amount of the then outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default or and its consequences under the Indenture Indenture, except a continuing Default in payment of the principal of, premium, if any, or interest, if any, interest on, any of the Securities Notes held by a non-consenting Holder. The Company Issuer is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company Issuer is required upon within five Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultand what action the Issuer proposes to take with respect thereto.

Appears in 11 contracts

Samples: Global Note (Biomet Inc), Global Note (Biomet Inc), Global Note (LVB Acquisition, Inc.)

Defaults and Remedies. The Certain events of bankruptcy or insolvency are Events of Default relating that will result in the principal amount of the Securities, together with premium, if any, and accrued and unpaid interest thereon, becoming due and payable immediately upon the occurrence of such Events of Default. If any other Event of Default with respect to the Securities are defined in Section 5.01 of the Base Indenture. If any Event of Default occurs and is continuing, then in every such case the Trustee or the Holders of at least not less than 25% in aggregate principal amount of the Securities then outstanding may declare the principal amount of all the Securities, together with premium, if any, and accrued and unpaid interest thereon, to be due and payable immediately in the manner and with the effect provided in the Indenture. Notwithstanding the preceding sentence, however, if at any time after such a declaration of acceleration has been made, the Holders of a majority in principal amount of the then outstanding Securities Securities, by written notice to the Trustee, may declare rescind such declaration and annul its consequences if the rescission would not conflict with any judgment or decree of a court of competent jurisdiction and if all existing Events of Default with respect to the Securities, other than the nonpayment of the principal, premium, if any, or interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall which has become due and payable immediately without further action solely by such declaration acceleration, shall have been cured or noticeshall have been waived. No such rescission shall affect any subsequent default or shall impair any right consequent thereon. Holders of Securities may not enforce the Indenture or the Securities except as provided in the Indenture. The Trustee may require indemnity or security satisfactory to it before it enforces the Indenture or the Securities. Subject to certain limitations, Holders of a majority in aggregate principal amount of the Securities then outstanding Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default.

Appears in 10 contracts

Samples: Fifth Supplemental Indenture (Energy Transfer LP), Third Supplemental Indenture (Energy Transfer LP), Second Supplemental Indenture (Energy Transfer LP)

Defaults and Remedies. The Certain events of bankruptcy or insolvency are Events of Default relating that will result in the principal amount of the Securities, together with premium, if any, and accrued and unpaid interest thereon, becoming due and payable immediately upon the occurrence of such Events of Default. If any other Event of Default with respect to the Securities are defined in Section 5.01 of the Base Indenture. If any Event of Default occurs and is continuing, then in every such case the Trustee or the Holders of at least not less than 25% in aggregate principal amount of the Securities then Outstanding may declare the principal amount of all the Securities, together with premium, if any, and accrued and unpaid interest thereon, to be due and payable immediately in the manner and with the effect provided in the Indenture. Notwithstanding the preceding sentence, however, if at any time after such a declaration of acceleration has been made, the Holders of a majority in principal amount of the then outstanding Securities Outstanding Securities, by written notice to the Trustee, may declare rescind such declaration and annul its consequences if the rescission would not conflict with any judgment or decree of a court already rendered and if all Events of Default with respect to the Securities, other than the nonpayment of the principal, premium, if any, or interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall which has become due and payable immediately without further action solely by such acceleration, shall have been cured or noticeshall have been waived. No such rescission shall affect any subsequent default or shall impair any right consequent thereon. Holders of Securities may not enforce the Indenture or the Securities except as provided in the Indenture. The Trustee may require reasonable indemnity or security before it enforces the Indenture or the Securities. Subject to certain limitations, Holders of a majority in aggregate principal amount of the Securities then outstanding Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default.

Appears in 10 contracts

Samples: Supplemental Indenture (Sunoco Logistics Partners L.P.), Thirteenth Supplemental Indenture (Sunoco Logistics Partners L.P.), Twelfth Supplemental Indenture (Sunoco Logistics Partners L.P.)

Defaults and Remedies. The Events of Default relating to the Securities are defined in Section 5.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall will become due and payable immediately without further action or notice. Holders may not enforce the Indenture or the Securities except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default or and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default.

Appears in 9 contracts

Samples: Supplemental Indenture (American Tower Corp /Ma/), Supplemental Indenture (American Tower Corp /Ma/), Supplemental Indenture (American Tower Corp /Ma/)

Defaults and Remedies. The Events of Default relating to are set forth in the Securities are defined in Section 5.01 of the Base Supplemental Indenture. If any Event of Default occurs with respect to the Notes and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediatelypayable. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture or the Securities Notes except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in writing in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default or Event of Default (except a Default or Event of Default relating to the payment of principal, premium, if any, principal or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding Notes by written notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default or Event of Default and its consequences under the Indenture except a continuing Default or Event of Default in the payment of interest on, or the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting HolderNotes. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Supplemental Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default.

Appears in 9 contracts

Samples: Global Note (Istar Inc.), Global Note (Istar Inc.), Global Note (Istar Inc.)

Defaults and Remedies. The Certain events of bankruptcy or insolvency are Events of Default relating that will result in the principal amount of the Securities, together with premium, if any, and accrued and unpaid interest thereon, becoming due and payable immediately upon the occurrence of such Events of Default. If any other Event of Default with respect to the Securities are defined in Section 5.01 of the Base Indenture. If any Event of Default occurs and is continuing, then in every such case the Trustee or the Holders of at least not less than 25% in aggregate principal amount of the Securities then Outstanding may declare the principal amount of all the Securities, together with premium, if any, and accrued and unpaid interest thereon, to be due and payable immediately in the manner and with the effect provided in the Indenture. Notwithstanding the preceding sentence, however, if at any time after such a declaration of acceleration has been made, the Holders of a majority in principal amount of the then outstanding Securities Outstanding Securities, by written notice to the Trustee, may declare rescind such declaration and annul its consequences if the rescission would not conflict with any judgment or decree of a court already rendered and if all Events of Default with respect to the Securities, other than the nonpayment of the principal, premium, if any, or interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall which has become due and payable immediately without further action solely by such declaration acceleration, shall have been cured or noticeshall have been waived. No such rescission shall affect any subsequent default or shall impair any right consequent thereon. Holders of Securities may not enforce the Indenture or the Securities except as provided in the Indenture. The Trustee may require indemnity or security satisfactory to it before it enforces the Indenture or the Securities. Subject to certain limitations, Holders of a majority in aggregate principal amount of the Securities then outstanding Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default.

Appears in 7 contracts

Samples: Seventh Supplemental Indenture (Enterprise Products Partners L P), Second Supplemental Indenture (Enterprise Products Partners L P), Fifth Supplemental Indenture (Enterprise Products Partners L P)

Defaults and Remedies. The Events If an Event of Default occurs (other than an Event of Default relating to the Securities are defined in Section 5.01 certain events of bankruptcy, insolvency or reorganization of the Base Indenture. If any Event of Default occurs Company) and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, principal of and accrued but unpaid interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediatelypayable. Notwithstanding the foregoing, in the case of If an Event of Default arising from relating to certain events of bankruptcy bankruptcy, insolvency or insolvencyreorganization of the Company occurs, the principal of and interest on all outstanding the Securities shall become immediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in principal amount of the outstanding Securities may not rescind any such acceleration with respect to the Securities and its consequences. If an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any of the rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee reasonable indemnity or security against any loss, liability or expense. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy with respect to the Indenture or the Securities except as provided unless (i) such Holder has previously given the Trustee notice that an Event of Default is continuing, (ii) Holders of at least 25% in principal amount of the Indenture. Subject outstanding Securities have requested the Trustee in writing to certain limitationspursue the remedy, (iii) such Holders have offered the Trustee reasonable security or indemnity against any loss, liability or expense, (iv) the Trustee has not complied with such request within 60 days after the receipt of the request and the offer of security or indemnity and (v) the Holders of a majority in aggregate principal amount of the then outstanding Securities may direct have not given the Trustee in its exercise of any trust or powera direction inconsistent with such request within such 60-day period. The Trustee may withhold from Holders of Subject to certain restrictions, the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the outstanding Securities then outstanding by notice are given the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may on behalf of the Holders of all of the Securities waive refuse to follow any existing Default and its consequences under direction that conflicts with law or the Indenture except a continuing Default in payment of or that the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company Trustee determines is required to deliver unduly prejudicial to the rights of any other Holder or that would involve the Trustee annually a statement regarding compliance with in personal liability. Prior to taking any action under the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such Default or Event of Defaultaction.

Appears in 7 contracts

Samples: Indenture (Imperial Home Decor Group Holdings I LTD), Indenture (Telecorp Tritel Holding Co), Indenture (Volume Services America Holdings Inc)

Defaults and Remedies. The Events If an Event of Default occurs (other than an Event of Default relating to the Securities are defined in Section 5.01 certain events of bankruptcy, insolvency or reorganization of either of the Base Indenture. If any Event of Default occurs Issuers) and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, principal of and accrued but unpaid interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediatelypayable. Notwithstanding the foregoing, in the case of If an Event of Default arising from relating to certain events of bankruptcy bankruptcy, insolvency or insolvencyreorganization of either of the Issuers occurs, the principal of and interest on all outstanding the Securities shall become immediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in principal amount of the outstanding Securities may not rescind any such acceleration with respect to the Securities and its consequences. If an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any of the rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee reasonable indemnity or security against any loss, liability or expense and certain other conditions are complied with. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy with respect to the Indenture or the Securities except as provided unless (i) such Holder has previously given the Trustee written notice that an Event of Default is continuing, (ii) Holders of at least 25% in principal amount of the Indenture. Subject outstanding Securities have requested the Trustee in writing to certain limitationspursue the remedy, (iii) such Holders have offered the Trustee reasonable security or indemnity against any loss, liability or expense, (iv) the Trustee has not complied with such request within 60 days after the receipt of the request and the offer of security or indemnity and (v) the Holders of a majority in aggregate principal amount of the then outstanding Securities may direct have not given the Trustee in its exercise of any trust or powera direction inconsistent with such request within such 60-day period. The Trustee may withhold from Holders of Subject to certain restrictions, the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the outstanding Securities then outstanding by notice are given the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may on behalf of the Holders of all of the Securities waive refuse to follow any existing Default and its consequences under direction that conflicts with law or the Indenture except a continuing Default in payment of or that the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company Trustee determines is required to deliver unduly prejudicial to the rights of any other Holder or that would involve the Trustee annually a statement regarding compliance with in personal liability. Prior to taking any action under the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such Default or Event of Defaultaction.

Appears in 6 contracts

Samples: Indenture (Dex Media Inc), Indenture (Dex Media International Inc), Indenture (Dex Media Inc)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 2525.0% in principal amount of the then outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities Notes shall become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal ofinterest on, premium, if any, or interest, if any, onthe principal of, any of the Securities Notes held by a non-consenting Holder. The Company Issuer is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company Issuer is required upon within five (5) Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultand what action the Issuer proposes to take with respect thereto.

Appears in 6 contracts

Samples: Indenture (Clear Channel Communications Inc), Indenture (Clear Channel Communications Inc), Indenture (Clear Channel Communications Inc)

Defaults and Remedies. The If an Event of Default (other than certain bankruptcy Events of Default relating with respect to the Securities are defined in Section 5.01 Issuer or any of the Base Indenture. If any Event of Default Cable Guarantors) occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of the Securities then outstanding Securities may declare all of the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding the foregoing, immediately in the case of an manner and with the effect provided in the Indenture. If a bankruptcy Event of Default arising from certain events with respect to the Issuer or any of bankruptcy or insolvencythe Cable Guarantors occurs and is continuing, all outstanding the Securities shall become be immediately due and payable immediately in the manner and with the effect provided in the Indenture without further any notice or other action on the part of the Trustee or noticeany Holder. Holders of Securities may not enforce the Indenture Indenture, the Securities or the Securities Cable Guarantees except as provided in the Indenture. Subject The Trustee is not obligated to enforce the Indenture, the Securities or the Cable Guarantees unless it has received indemnity satisfactory to it. The Indenture permits, subject to certain limitationslimitations therein provided, Holders of a majority in aggregate principal amount of the Securities then outstanding Securities may to direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any certain continuing Defaults or Events of Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default.

Appears in 5 contracts

Samples: Security Agreement (Comcast Corp), Exhibit (Comcast Corp), New Broadband Notes (Mediaone Group Inc)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, interest on, any of the Securities Notes held by a non-consenting Holder. The Company Issuer is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company Issuer is required upon within ten (10) Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultand what action the Issuer proposes to take with respect thereto.

Appears in 5 contracts

Samples: Indenture (Entercom Communications Corp), Indenture (Entercom Communications Corp), Indenture (CBS Radio Inc.)

Defaults and Remedies. The Certain events of bankruptcy or insolvency are Events of Default relating that will result in the principal amount of the Securities, together with premium, if any, and accrued and unpaid interest thereon, becoming due and payable immediately upon the occurrence of such Events of Default. If any other Event of Default with respect to the Securities are defined in Section 5.01 of the Base Indenture. If any Event of Default occurs and is continuing, then in every such case the Trustee or the Holders of at least not less than 25% in aggregate principal amount of the Securities then outstanding Securities may declare the principal amount of all the Securities, together with premium, if any, and accrued and unpaid interest thereon, to be due and payable immediately in the manner and with the effect provided in the Indenture. Notwithstanding the preceding sentence, however, if at any time after such a declaration of acceleration has been made, the Holders of a majority in aggregate principal amount of the outstanding Securities, by written notice to the Trustee, may rescind such acceleration and its consequences if the rescission would not conflict with any judgment or decree of a court of competent jurisdiction already rendered and if all existing Events of Default with respect to the Securities have been cured or waived except nonpayment of principal, premium, if any, or interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall that has become due and payable immediately without further action solely by the declaration of acceleration. No such rescission shall affect any subsequent default or noticeshall impair any right consequent thereon. Holders of Securities may not enforce the Indenture or the Securities except as provided in the Indenture. The Trustee may require reasonable indemnity or security satisfactory to it before it enforces the Indenture or the Securities. Subject to certain limitations, Holders of a majority in aggregate principal amount of the Securities then outstanding Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default.

Appears in 5 contracts

Samples: Fifth Supplemental Indenture (EnLink Midstream Partners, LP), Fourth Supplemental Indenture (EnLink Midstream Partners, LP), Third Supplemental Indenture (EnLink Midstream Partners, LP)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 2530.0% in principal amount of the then outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities Notes shall become due and payable immediately without further action or notice. Holders of Notes may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal ofinterest on, premium, if any, or interest, if any, onthe principal of, any of the Securities Notes held by a non-consenting Holder. The Company Issuer is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company Issuer is required upon within five (5) Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultand what action the Issuer proposes to take with respect thereto.

Appears in 5 contracts

Samples: Indenture (Clear Channel Outdoor Holdings, Inc.), Indenture (Clear Channel Outdoor Holdings, Inc.), Indenture (Clear Channel Outdoor Holdings, Inc.)

Defaults and Remedies. The If an Event of Default (other than certain bankruptcy Events of Default relating with respect to the Securities are defined in Section 5.01 of the Base Indenture. If Issuer or any Event of Default Guarantor) occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of the Securities then outstanding Securities may declare all of the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding the foregoing, immediately in the case of an manner and with the effect provided in the Indenture. If a bankruptcy Event of Default arising from certain events of bankruptcy with respect to the Issuer or insolvencyany Guarantor occurs and is continuing, all outstanding the Securities shall become be immediately due and payable immediately in the manner and with the effect provided in the Indenture without further any notice or other action on the part of the Trustee or noticeany Holder. Holders of Securities may not enforce the Indenture Indenture, the Securities or the Securities Guarantees except as provided in the Indenture. Subject The Trustee is not obligated to enforce the Indenture, the Securities or the Guarantees unless it has received indemnity satisfactory to it. The Indenture permits, subject to certain limitationslimitations therein provided, Holders of a majority in aggregate principal amount of the Securities then outstanding Securities may to direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any certain continuing Defaults or Events of Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines in good faith that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default.

Appears in 4 contracts

Samples: Security Transfer Agreement (NBCUniversal Media, LLC), Security Transfer Agreement (Comcast Cable Communications LLC), Notes Purchase Agreement (Widepoint Corp)

Defaults and Remedies. The Events of Default relating include: (a) default for 30 days in the payment when due of interest on the Securities; (b) default in payment when due of principal of or premium, if any, on the Securities; (c) failure by the Company to the Securities are defined in comply with Section 5.01 of the Base Indenture; (d) failure by the Company for 60 days to comply with certain other agreements in this Indenture or the Securities; (e) certain events of bankruptcy or insolvency with respect to the Company or any of its Restricted Subsidiaries that is a Significant Subsidiary; and (f) except as permitted by the Indenture, any applicable Security Guarantee shall be held in any judicial proceeding to be unenforceable or invalid or shall cease for any reason to be in full force and effect or any Guarantor or any Person acting on its behalf shall deny or disaffirm its obligations under such Guarantor’s Security Guarantee. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediatelypayable. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvencyinsolvency involving the Company, all outstanding Securities shall will become due and payable immediately without further action or notice. Holders may not enforce the this Indenture or the Securities except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default or Event of Default (except a Default or Event of Default relating to the payment of principal, premium, if any, principal or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default or Event of Default and its consequences under the this Indenture except a continuing Default or Event of Default in the payment of interest on, or the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting HolderSecurities. The Company is required to deliver to the Trustee annually a statement regarding compliance with the this Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default.

Appears in 4 contracts

Samples: Indenture (Lifepoint Health, Inc.), Indenture (West Virginia Management Services Organization, Inc.), Indenture (West Virginia Management Services Organization, Inc.)

Defaults and Remedies. The Under the Indenture, Events of Default relating include (i) default in payment of the principal amount, or interest (including Additional Interest, if any), in respect of the Securities when the same becomes due and payable subject, in the case of interest, to the Securities are defined grace period and any extension period provided for in Section 5.01 the Indenture; (ii) failure by the Company to comply with its other covenants in the Indenture or the Securities, subject to notice and lapse of time; and (iii) certain events of bankruptcy or insolvency of the Base IndentureCompany. If any an Event of Default occurs and is continuing, the Trustee Trustee, the Special Representative, or the Holders of at least 25% a majority in aggregate principal amount of the then outstanding Securities at the time outstanding, may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain Certain events of bankruptcy or insolvency, all outstanding insolvency are Events of Default which will result in the Securities shall become becoming due and payable immediately without further action or noticeupon the occurrence of such Events of Default. Holders Securityholders may not enforce the Indenture or the Securities except as provided in the Indenture. The Trustee may refuse to enforce the Indenture or the Securities unless it receives reasonable indemnity and security. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then Securities at the time outstanding Securities or the Special Representative may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Securityholders notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or in paying principal and/or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultinterests.

Appears in 4 contracts

Samples: Indenture (Metropolitan Edison Co), Indenture (Met Ed Capital Trust), Indenture (Penelec Capital Trust)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 2530% in principal amount of the then outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, interest on, any of the Securities Notes held by a non-consenting Holder. The Company Issuer is required to deliver to the Trustee annually a statement an Officer’s Certificate regarding compliance with the Indenture, and the Company Issuer is required upon within ten (10) Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement an Officer’s Certificate specifying such Default and what action the Issuer is taking or Event of Defaultproposes to take in respect thereof.

Appears in 3 contracts

Samples: Indenture (Beasley Broadcast Group Inc), Indenture (Beasley Broadcast Group Inc), Indenture (Beasley Broadcast Group Inc)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 2530% in principal amount of the then outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default or and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, interest on, any of the Securities Notes held by a non-consenting Holder. The Company Issuer and each Guarantor is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company Issuer is required upon within five (5) Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultand what action the Issuer proposes to take with respect thereto.

Appears in 3 contracts

Samples: Indenture (Aramark), Indenture (Aramark), Indenture (Aramark)

Defaults and Remedies. The Events of Default relating to the Securities are defined in Section 5.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities of a series may declare the principal, principal of and premium, if any, interest and interest, if any, and any other monetary obligations on all the then outstanding Securities of such series to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall become due and payable immediately without further action or notice. Holders may not enforce the Indenture or the Securities except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities may direct the Trustee in its their respective exercise of any trust or power. The Trustee may withhold from Holders of the Securities of any series notice of any continuing Default (except a Default relating to the payment of principal, the principal of or premium, if any, or interest, if any, on the Securities of such series or in the payment or delivery of any consideration due upon conversion or exchange of any Security of such series (if applicable)) if it determines they determine that withholding notice is in their interest. The Holders of not less than a majority in aggregate principal amount of the Securities of any series then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities of such series waive any an existing Default or Event of Default and its consequences under the Indenture hereunder, except a continuing Default or Event of Default in the payment of the principal ofamount, premium, if any, or and any accrued and unpaid interest, if any, onon any Security of such series or, any in the case of the Securities held by of any series that are convertible or exchangeable, in the payment or delivery of any consideration due upon conversion or exchange of the Securities of such series (including in connection with an offer to purchase) provided, however, that the Holders of a non-consenting Holdermajority in aggregate principal amount of the then outstanding Securities of any series may rescind an acceleration and its consequences, including any related payment default that resulted from such acceleration in accordance with Section 5.02 of the Base Indenture. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default.

Appears in 3 contracts

Samples: Supplemental Indenture (Warner Chilcott LTD), Third Supplemental Indenture (Warner Chilcott LTD), Supplemental Indenture (Warner Chilcott LTD)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 2530% in principal amount of the then outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default or and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, interest on, any of the Securities Notes held by a non-consenting Holder. The Company Issuer is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company Issuer is required upon required, after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultand what action the Issuer proposes to take with respect thereto.

Appears in 3 contracts

Samples: Senior Subordinated Notes Indenture (Claires Stores Inc), Exchange Agreement (Claires Stores Inc), Senior Notes Indenture (Claires Stores Inc)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then total outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if and so long as it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding Notes by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default and its consequences under the Indenture (except a continuing Default in the payment of the principal ofinterest on, premium, if any, or interest, if any, on, the principal of any of the Securities Note held by a non-consenting Holder) and rescind an acceleration and its consequences if the rescission would not conflict with any judgment or decree and if all existing Events of Default (except nonpayment of principal, interest, if any, or premium that has become due solely because of the acceleration) have been cured or waived. The Company Issuer and each Subsidiary Guarantor is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company Issuer is required upon within five Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultevent.

Appears in 3 contracts

Samples: Indenture (Reliant Software, Inc.), Indenture (Reliant Software, Inc.), Indenture (Community Choice Financial Inc.)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 2530% in principal amount of the then outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, Additional Interest, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default or and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interestAdditional Interest, if any, or interest on, any of the Securities Notes held by a non-consenting Holder. The Company Issuer and each Guarantor (to the extent that such Guarantor is so required under the Trust Indenture Act) is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company Issuer is required upon within five (5) Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultand what action the Issuer proposes to take with respect thereto.

Appears in 3 contracts

Samples: Indenture (Aramark), Indenture (Aramark), Supplemental Indenture (Aramark)

Defaults and Remedies. The Events If an Event of Default occurs (other than an Event of Default relating to the Securities are defined in Section 5.01 certain events of the Base Indenture. If bankruptcy, insolvency or reorganization of any Event of Default occurs Issuer) and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, principal of and accrued but unpaid interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediatelypayable. Notwithstanding the foregoing, in the case of If an Event of Default arising from relating to certain events of bankruptcy bankruptcy, insolvency or insolvencyreorganization of any Issuer occurs, the principal of and interest on all outstanding the Securities shall become immediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in principal amount of the outstanding Securities may not rescind any such acceleration with respect to the Securities and its consequences. If an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any of the rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee indemnity or security satisfactory to it against any loss, liability or expense. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy with respect to the Indenture or the Securities except as provided unless (a) such Holder has previously given the Trustee notice that an Event of Default is continuing, (b) Holders of at least 25% in principal amount of the Indenture. Subject to certain limitationsoutstanding Securities have requested in writing that the Trustee pursue the remedy, (c) such Holders have offered the Trustee reasonable security or indemnity against any loss, liability or expense, (d) the Trustee has not complied with such request within 60 days after the receipt of the request and the offer of security or indemnity and (e) the Holders of a majority in aggregate principal amount of the then outstanding Securities have not given the Trustee a direction inconsistent with such request within such 60-day period. Subject to certain restrictions, the Holders of a majority in principal amount of the outstanding Securities may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee in its exercise or of exercising any trust or powerpower conferred on the Trustee. The Trustee, however, may refuse to follow any direction that conflicts with law or the Indenture or that the Trustee may withhold from Holders of determines is unduly prejudicial to the Securities notice rights of any continuing Default (except a Default relating to the payment of principal, premium, if any, other Holder or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to would subject the Trustee may on behalf of the Holders of all of the Securities waive to personal liability. Prior to taking any existing Default and its consequences action under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such Default or Event of Defaultaction.

Appears in 2 contracts

Samples: Indenture (Jones Group Inc), Indenture (JAG FOOTWEAR, ACCESSORIES & RETAIL Corp)

Defaults and Remedies. The Events In the case of Default relating an Event of Default, as defined in the Indenture arising from certain events of bankruptcy or insolvency with respect to the Company or any of its Significant Subsidiaries, all outstanding Securities are defined in Section 5.01 of the Base Indenturewill become due and payable immediately and automatically without further action or notice. If any other Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding Holders of the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall become due and payable immediately without further action or notice. Holders may not enforce the Indenture or the Securities except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default or Event of Default (except a Default or Event of Default relating to the payment of principal, premiumprincipal or interest or Liquidated Damages, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may may, on behalf of the Holders of all of the Securities Securities, waive any existing Default or Event of Default and its consequences under the Indenture except a continuing Default or Event of Default in the payment of the principal of, premium, if any, interest or interestLiquidated Damages, if any, on, or the principal of, the Securities. [In the case of any Event of Default occurring by reason of any willful action or inaction taken or not taken by the Company or on their behalf with the intention of avoiding payment of the premium that the Company would have had to pay if it then had elected to redeem the Securities held by a non-consenting Holder. The Company is required to deliver pursuant to the Trustee annually a statement regarding compliance with optional redemption provisions of the Indenture, an A1-8 equivalent premium shall also become and be immediately due and payable to the extent permitted by law upon the acceleration of the Securities. If an Event of Default occurs during any time that the Securities or Guarantees are outstanding, by reason of any willful action (or inaction) taken (or not taken) by the Company is required upon becoming aware or on its behalf with the intention of any Default or Event avoiding the prohibition on redemption of Defaultthe Securities, to deliver then the premium specified in the Indenture shall also become immediately due and payable to the Trustee a statement specifying such Default or Event extent permitted by law upon the acceleration of Defaultthe Securities.]

Appears in 2 contracts

Samples: Second Senior Indenture (Cihc Inc), Indenture (Cihc Inc)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Requisite Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities Notes shall become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, the Requisite Holders of a majority in aggregate principal amount of the then outstanding Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Requisite Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of all the Holders of all of the Securities waive any existing Default or and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, interest on, any of the Securities Notes held by a non-consenting Holder. The Company Issuer is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company Issuer is required upon within five Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultand what action the Issuer proposes to take with respect thereto.

Appears in 2 contracts

Samples: Seventh Supplemental Indenture (American Tire Distributors Holdings, Inc.), Senior Subordinated Notes Indenture (American Tire Distributors Holdings, Inc.)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, interest on, any of the Securities Notes held by a non-consenting HolderHolder and rescind any acceleration with respect to the Notes and its consequences (provided such rescission would not conflict with any judgment of a court of competent jurisdiction). The Company Issuers and each Guarantor is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is Issuers are required upon within five (5) Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultand what action the Issuers propose to take with respect thereto.

Appears in 2 contracts

Samples: Indenture (PBF Holding Co LLC), Indenture (PBF Energy Co LLC)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 2525.0% in principal amount of the then outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities Notes shall become due and payable immediately without further action or notice. Holders of Notes may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal ofinterest on, premium, if any, or interest, if any, onthe principal of, any of the Securities Notes held by a non-consenting Holder. The Company Issuer is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company Issuer is required upon within five (5) Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultand what action the Issuer proposes to take with respect thereto.

Appears in 2 contracts

Samples: Indenture (Clear Channel Outdoor Holdings, Inc.), Indenture (Clear Channel Outdoor Holdings, Inc.)

Defaults and Remedies. The Events of Default are set forth in the Indenture. Event of Default (other than an Event of Default relating to certain bankruptcy events specified in the Securities are defined in Section 5.01 of the Base Indenture. If any Event of Default ) occurs and is continuing, the Trustee by notice to the Company and the Issuers, or the Holders of at least 25% in principal amount of the then outstanding Securities may by notice to the Company and the Issuers and the Trustee, may, and the Trustee at the request of such Holders shall, declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding the foregoing, in the case of If an Event of Default arising from relating to certain bankruptcy events of bankruptcy or insolvencyspecified in the Indenture occurs and is continuing, the principal of, premium, if any, and accrued and unpaid interest (including Additional Interest) on all outstanding the Securities shall will become and be immediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Holders. Holders Securityholders may not enforce the Indenture or the Securities except as provided in the Indenture. Subject to the provisions of the Indenture relating to the duties of the Trustee if an Event of Default exists, the Trustee may refuse to enforce the Indenture or the Securities unless it receives indemnity or security satisfactory to it. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Securityholders notice of any continuing Default or Event of Default (except a Default relating to the or Event of Default in payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default.

Appears in 2 contracts

Samples: Indenture (Alta Mesa Holdings, LP), Indenture (Alta Mesa Energy LLC)

Defaults and Remedies. The Events of Default relating to the Securities are defined in Section 5.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 2530% in principal amount of the then outstanding Securities may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall become due and payable immediately without further action or notice. Holders may not enforce the Indenture or the Securities except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default.

Appears in 2 contracts

Samples: Indenture (Western Digital Corp), Indenture (Western Digital Technologies Inc)

Defaults and Remedies. The Events If an Event of Default occurs (other than an Event of Default relating to the Securities are defined in Section 5.01 certain events of the Base Indenture. If bankruptcy, insolvency or reorganization of any Event of Default occurs Issuer) and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, principal of and accrued but unpaid interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediatelypayable. Notwithstanding the foregoing, in the case of If an Event of Default arising from relating to certain events of bankruptcy bankruptcy, insolvency or insolvencyreorganization of any Issuer occurs, the principal of and interest on all outstanding the Securities shall become immediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in principal amount of the outstanding Securities may not rescind any such acceleration with respect to the Securities and its consequences. If an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any of the rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee reasonable indemnity or security against any loss, liability or expense. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy with respect to the Indenture or the Securities except as provided unless (i) such Holder has previously given the Trustee notice that an Event of Default is continuing, (ii) Holders of at least 25% in principal amount of the Indenture. Subject to certain limitationsoutstanding Securities have requested in writing that the Trustee pursue the remedy, (iii) such Holders have offered the Trustee reasonable security or indemnity against any loss, liability or expense, (iv) the Trustee has not complied with such request within 60 days after the receipt of the request and the offer of security or indemnity and (v) the Holders of a majority in aggregate principal amount of the then outstanding Securities have not given the Trustee a direction inconsistent with such request within such 60-day period. Subject to certain restrictions, the Holders of a majority in principal amount of the outstanding Securities may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee in its exercise or of exercising any trust or powerpower conferred on the Trustee. The Trustee, however, may refuse to follow any direction that conflicts with law or the Indenture or that the Trustee may withhold from Holders of determines is unduly prejudicial to the Securities notice rights of any continuing Default (except a Default relating to the payment of principal, premium, if any, other Holder or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to would subject the Trustee may on behalf of the Holders of all of the Securities waive to personal liability. Prior to taking any existing Default and its consequences action under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such Default or Event of Defaultaction.

Appears in 2 contracts

Samples: Indenture (Jones Apparel Group Inc), Indenture (Jones Apparel Group Inc)

Defaults and Remedies. The Events of Default relating to the Securities are defined in Section 5.01 of the Base Indenture. If any an Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount at maturity of the Securities then outstanding Securities outstanding, subject to certain limitations, may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities to be immediately due and payable immediatelypayable. Notwithstanding the foregoing, in the case of If an Event of Default arising from relating to certain events of bankruptcy bankruptcy, insolvency or insolvencyreorganization of the Company occurs, the principal of and interest on all outstanding the Securities shall become immediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Holders and if such Event of Default occurs prior to the earlier of (i) the Cash Election Date and (ii) August 15, 2009, the Company will thereafter be obligated to pay cash interest on each subsequent Interest Payment Date and the Securities will cease to accrete. Under certain circumstances, the Holders of a majority in principal amount at maturity of the outstanding Securities may rescind any such acceleration with respect to the Securities and its consequences. Holders of Securities may not enforce the Indenture or the Securities except as provided in the Indenture. The Trustee may refuse to enforce the Indenture or the Securities unless it receives reasonable indemnity or security. Subject to certain limitations, Holders of a majority in aggregate principal amount at maturity of the Securities then outstanding Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of power under the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interestIndenture. The Holders of a majority in aggregate principal amount at maturity of the Securities then outstanding outstanding, by written notice to the Trustee Company and the Trustee, may on behalf rescind any declaration of the Holders of all of the Securities waive any existing Default acceleration and its consequences under if the Indenture rescission would not conflict with any judgment or decree, and if all existing Events of Default have been cured or waived except a continuing Default in payment nonpayment of principal or interest that has become due solely because of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultacceleration.

Appears in 2 contracts

Samples: Indenture (Marquee Holdings Inc.), Indenture (Amc Entertainment Inc)

Defaults and Remedies. The Events of Default relating to the Securities are defined in Section 5.01 of the Base Indenture. If any an Event of Default occurs and is continuingcontinuing under the Indenture, the Trustee or the Holders of at least 25% in aggregate principal amount of the Securities then outstanding Securities may declare all amounts owing under the principalSecurities to be due and payable immediately in the manner and with the effect provided in the Indenture. If an Event of Default results from bankruptcy, insolvency or reorganization involving the Company or any Subsidiary Guarantor, all outstanding Securities shall become immediately due and payable without any further action or notice. In certain cases, the Holders of a majority in aggregate principal amount of the Securities then outstanding may waive any past Defaults, except a Default in the payment of principal of, premium, if any, and interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediatelySecurities. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall become due and payable immediately without further action or notice. The Holders may not enforce the provisions of the Indenture or the Securities except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the Securities then outstanding Securities may direct the Trustee in its exercise of any trust or power; provided, however, that such direction does not conflict with the terms of the Indenture. The Trustee may withhold from the Holders of the Securities notice of any continuing Default or Event of Default (except a any Default relating to the payment or Event of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest on the Securities if the Trustee determines that withholding such notice is in the Holders’ interest, if any, on, . The Trustee is not obligated to exercise any of the Securities held rights or powers vested in it by a non-consenting Holder. The Company is required the Indenture at the request or direction of any of the Holders pursuant to deliver the Indenture, unless such Holders shall have offered to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default security or Event of Default, to deliver indemnity satisfactory to the Trustee a statement specifying against the costs, expenses and liabilities which might be incurred by it in compliance with such Default request or Event of Defaultdirection.

Appears in 2 contracts

Samples: Indenture (United Refining Co), Indenture (United Refining Co)

Defaults and Remedies. The Events In the case of Default relating an Event of Default, as defined in the Indenture arising from certain events of bankruptcy or insolvency with respect to the Company or any of its Significant Subsidiaries, all outstanding Securities are defined in Section 5.01 of the Base Indenturewill become due and payable immediately and automatically without further action or notice. If any other Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding Holders of the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall become due and payable immediately without further action or notice. Holders may not enforce the Indenture or the Securities except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default or Event of Default (except a Default or Event of Default relating to the payment of principal, premiumprincipal or interest or Liquidated Damages, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may may, on behalf of the Holders of all of the Securities Securities, waive any existing Default or Event of Default and its consequences under the Indenture except a continuing Default or Event of Default in the payment of the principal of, premium, if any, interest or interestLiquidated Damages, if any, on, or the principal of, the Securities. [In the case of any Event of Default occurring by reason of any willful action or inaction taken or not taken by the Company or on their behalf with the intention of avoiding payment of the premium that the Company would have had to pay if it then had elected to redeem the Securities held by a non-consenting Holder. The Company is required to deliver pursuant to the Trustee annually a statement regarding compliance with optional redemption provisions of the Indenture, an equivalent premium shall also become and be immediately due and payable to the extent permitted by law upon the acceleration of the Securities. If an Event of Default occurs during any time that the Securities or Guarantees are outstanding, by reason of any willful action (or inaction) taken (or not taken) by the Company is required upon becoming aware or on its behalf with the intention of any Default or Event avoiding the prohibition on redemption of Defaultthe Securities, to deliver then the premium specified in the Indenture shall also become immediately due and payable to the Trustee a statement specifying such Default or Event extent permitted by law upon the acceleration of Defaultthe Securities.]

Appears in 2 contracts

Samples: Indenture (Cihc Inc), Second Senior Indenture (Cihc Inc)

Defaults and Remedies. The Events If an Event of Default occurs (other than an Event of Default relating to the Securities are defined in Section 5.01 certain events of the Base Indenture. If bankruptcy, insolvency or reorganization of any Event of Default occurs Issuer) and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, principal of and accrued but unpaid interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediatelypayable. Notwithstanding the foregoing, in the case of If an Event of Default arising from relating to certain events of bankruptcy bankruptcy, insolvency or insolvencyreorganization of any Issuer occurs, the principal of and interest on all outstanding the Securities shall become immediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in principal amount of the outstanding Securities may not rescind any such acceleration with respect to the Securities and its consequences. If an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any of the rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee indemnity or security satisfactory to it against any loss, liability or expense. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy with respect to the Indenture or the Securities except as provided unless (i) such Holder has previously given the Trustee notice that an Event of Default is continuing, (ii) Holders of at least 25% in principal amount of the Indenture. Subject to certain limitationsoutstanding Securities have requested in writing that the Trustee pursue the remedy, (iii) such Holders have offered the Trustee reasonable security or indemnity against any loss, liability or expense, (iv) the Trustee has not complied with such request within 60 days after the receipt of the request and the offer of security or indemnity and (v) the Holders of a majority in aggregate principal amount of the then outstanding Securities have not given the Trustee a direction inconsistent with such request within such 60-day period. Subject to certain restrictions, the Holders of a majority in principal amount of the outstanding Securities may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee in its exercise or of exercising any trust or powerpower conferred on the Trustee. The Trustee, however, may refuse to follow any direction that conflicts with law or the Indenture or that the Trustee may withhold from Holders of determines is unduly prejudicial to the Securities notice rights of any continuing Default (except a Default relating to the payment of principal, premium, if any, other Holder or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to would subject the Trustee may on behalf of the Holders of all of the Securities waive to personal liability. Prior to taking any existing Default and its consequences action under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such Default or Event of Defaultaction.

Appears in 2 contracts

Samples: Indenture (Jones Apparel Group Inc), Indenture (Jones Apparel Group Inc)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 2530% in principal amount of the then outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default or and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, interest on, any of the Securities Notes held by a non-consenting Holder. The Company Issuer is required to deliver to the Trustee and the Collateral Agent annually a statement regarding compliance with the Indenture, and the Company Issuer is required upon required, after becoming aware of any Default or Event of Default, to deliver to the Trustee and the Collateral Agent a statement specifying such Default or Event of Defaultand what action the Issuer proposes to take with respect thereto.

Appears in 2 contracts

Samples: Senior Secured First Lien Notes Indenture (Claires Stores Inc), Second Supplemental Indenture (Claires Stores Inc)

Defaults and Remedies. The Events of Default relating to the Securities are defined in Section 5.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee Trustee, by notice to the Company, or the Holders of at least 25% in aggregate principal amount of the then outstanding Securities Notes, by notice to the Company and the Trustee, may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoingpreceding, in the case of an Event of Default arising from certain such events of bankruptcy bankruptcy, insolvency or insolvencyreorganization described in Section 6.01(j) or (k) of the Indenture with respect to the Company or a Subsidiary Guarantor, all outstanding Securities Notes shall become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Collateral Agreements except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or powerpower conferred on it with respect to the Notes. The Trustee may withhold from Holders of the Securities Holder notice of any continuing Default (except a or Event of Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest, except a Default or Event of Default relating to the payment of principal of, or interest or premium, if any, on, the Notes. The Holders of a majority in aggregate principal amount of the Securities then outstanding Notes by notice to the Trustee may may, on behalf of the Holders of all of the Securities Notes, rescind an acceleration or waive any existing Default or Event of Default and its consequences under the Indenture Indenture, except a continuing Default as provided in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting HolderIndenture. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and within 10 Days of any of its Officers or any of the Company is required upon Company’s Officers becoming aware of any Default or Event of Default, the Company is required to deliver to the Trustee a statement specifying such Default or Event of Default.

Appears in 2 contracts

Samples: Indenture (Comstock Oil & Gas, LP), Indenture (Comstock Oil & Gas, LP)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Required Holders of at least 2530% in aggregate principal amount of the then outstanding Securities Required Debt may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Required Holders of a majority in aggregate principal amount of the then outstanding Securities Required Debt may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, Additional Interest, if any, or interest) if it determines that withholding notice is in their interest. The Required Holders of a majority in aggregate principal amount of the Securities then outstanding Required Debt by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default or and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interestAdditional Interest, if any, or interest on, any of the Securities Notes held by a non-consenting Holder. The Company Issuer and each Guarantor (to the extent that such Guarantor is so required under the Trust Indenture Act) is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company Issuer is required upon within five (5) Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultand what action the Issuer proposes to take with respect thereto.

Appears in 2 contracts

Samples: Indenture (Texas Competitive Electric Holdings CO LLC), First Supplemental Indenture (Energy Future Holdings Corp /TX/)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, interest on, any of the Securities Notes held by a non-consenting Holder. The Company Issuer is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company Issuer is required upon within ten (10) Business Days after becoming aware of any Default or Event of Defaultthat is continuing, to deliver to the Trustee a statement specifying such Default or Event of Defaultand what action the Issuer proposes to take with respect thereto.

Appears in 2 contracts

Samples: Indenture (Cumulus Media Inc), Indenture (Cumulus Media Inc)

Defaults and Remedies. The Events If an Event of Default occurs (other than an Event of Default relating to the Securities are defined in Section 5.01 certain events of bankruptcy, insolvency or reorganization of the Base Indenture. If any Event of Default occurs Company) and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principalprincipal of, premiumand accrued but unpaid interest on, if any, interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediatelypayable. Notwithstanding the foregoing, in the case of If an Event of Default arising from relating to certain events of bankruptcy bankruptcy, insolvency or insolvencyreorganization of the Company occurs, the principal of, and interest on, all outstanding the Securities shall become immediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in principal amount of the outstanding Securities may not rescind any such acceleration with respect to the Securities and the consequences of any such acceleration. If an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any of the rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee indemnity or security satisfactory to it in its reasonable discretion against any loss, liability or expense and certain other conditions are complied with. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy with respect to the Indenture or the Securities except as provided unless (i) such Holder has previously given the Trustee notice that an Event of Default is continuing, (ii) Holders of at least 25% in principal amount of the Indenture. Subject outstanding Securities have requested the Trustee in writing to certain limitationspursue the remedy, (iii) such Holders have offered the Trustee security or indemnity satisfactory to it in its reasonable discretion against any loss, liability or expense, (iv) the Trustee has not complied with such request within 60 days after the receipt of the request and the offer of security or indemnity and (v) the Holders of a majority in aggregate principal amount of the then outstanding Securities may direct have not given the Trustee in its exercise of any trust or powera direction inconsistent with such request within such 60-day period. The Trustee may withhold from Holders of Subject to certain restrictions, the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the outstanding Securities then outstanding by notice are given the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may on behalf of the Holders of all of the Securities waive refuse to follow any existing Default and its consequences under direction that conflicts with law or the Indenture except a continuing Default in payment of or that the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company Trustee determines is required to deliver unduly prejudicial to the rights of any other Holder or that would involve the Trustee annually a statement regarding compliance with in personal liability. Prior to taking any action under the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such Default or Event of Defaultaction.

Appears in 2 contracts

Samples: Indenture (Kansas City Southern), Indenture (Kansas City Southern)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 2530% in principal amount of the then total outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if and so long as it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding Notes by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default and its consequences under the Indenture (except a continuing Default in the payment of the principal ofinterest on, premium, if any, or interest, if any, on, the principal of any of the Securities Note held by a non-consenting Holder) and rescind an acceleration and its consequences if the rescission would not conflict with any judgment or decree and if all existing Events of Default (except nonpayment of principal, interest, if any, or premium that has become due solely because of the acceleration) have been cured or waived. The Company Issuer is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company Issuer is required upon within five Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default.

Appears in 1 contract

Samples: Indenture (Patheon Holdings Cooperatief U.A.)

Defaults and Remedies. The Events If an Event of Default relating with respect to the Securities are defined in Section 5.01 of a series issued pursuant to the Base Indenture. If any Event of Default First Supplemental Indenture occurs and is continuingcontinuing (other than certain events of bankruptcy, insolvency or reorganization of the Company), the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall become due and payable immediately without further action or notice. Holders may not enforce the Indenture or the Securities except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities of such series then outstanding outstanding, by notice in writing to the Company (and to the Trustee if notice is given by such Holders), may on behalf of declare the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the unpaid principal of, premium, if any, or and accrued interest, if any, ondue and payable immediately. In the case of certain events of bankruptcy, insolvency or reorganization of the Company, the principal and accrued and unpaid interest, if any, on all outstanding Securities will become and be immediately due and payable. Subject to the terms of the Indenture, if an Event of Default under the Indenture shall occur and be continuing, the Trustee will be under no obligation to exercise any of its rights or powers under the Indenture at the request or direction of any of the Securities held by a non-consenting Holder. The Company is required to deliver to Holders, unless such Holders have offered the Trustee annually a statement regarding compliance with indemnity satisfactory to it. Upon satisfaction of certain conditions set forth in the Indenture, and the Company is required upon becoming aware Holders of any Default or Event a majority in principal amount of Default, to deliver the outstanding Securities of a series issued pursuant to the Trustee a statement specifying First Supplemental Indenture will have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the Securities of such Default or Event of Defaultseries.

Appears in 1 contract

Samples: First Supplemental Indenture (ServiceNow, Inc.)

Defaults and Remedies. The Events If an Event of Default occurs (other than an Event of Default relating to the Securities are defined in Section 5.01 certain events of bankruptcy, insolvency or reorganization of the Base Indenture. If any Event of Default occurs Company) and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, principal of and accrued but unpaid interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediatelypayable. Notwithstanding the foregoing, in the case of If an Event of Default arising from relating to certain events of bankruptcy bankruptcy, insolvency or insolvencyreorganization of the Company occurs, the principal of and interest on all outstanding the Securities shall become immediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in principal amount of the outstanding Securities may not rescind any such acceleration with respect to the Securities and its consequences. If an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any of the rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee indemnity or security reasonably satisfactory to it against any loss, liability or expense and certain other conditions are complied with. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy with respect to the Indenture or the Securities except as provided unless (i) such Holder has previously given the Trustee notice that an Event of Default is continuing, (ii) Holders of at least 25% in principal amount of the Indenture. Subject outstanding Securities have requested the Trustee in writing to certain limitationspursue the remedy, (iii) such Holders have offered the Trustee security or indemnity reasonably satisfactory to it against any loss, liability or expense, (iv) the Trustee has not complied with such request within 60 days after the receipt of the request and the offer of security or indemnity and (v) the Holders of a majority in aggregate principal amount of the then outstanding Securities may direct have not given the Trustee in its exercise of any trust or powera direction inconsistent with such request within such 60-day period. The Trustee may withhold from Holders of Subject to certain restrictions, the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the outstanding Securities then outstanding by notice are given the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may on behalf of the Holders of all of the Securities waive refuse to follow any existing Default and its consequences under direction that conflicts with law or the Indenture except a continuing Default in payment of or that the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company Trustee determines is required to deliver unduly prejudicial to the rights of any other Holder or that would involve the Trustee annually a statement regarding compliance with in personal liability. Prior to taking any action under the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such Default or Event of Defaultaction.

Appears in 1 contract

Samples: Indenture (Alliant Techsystems Inc)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default (other than an Event of Default arising from certain events of bankruptcy or insolvency) occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities Notes may declare the principal, premium, if any, principal of and accrued but unpaid interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediatelyimmediately by notice in writing to the Company and the Trustee (if given by the Holders) specifying the respective Event of Default and that it is a “notice of acceleration”, and the same shall become immediately due and payable. Notwithstanding the foregoing, in the case of If an Event of Default arising from certain events of bankruptcy or insolvencyinsolvency occurs and is continuing, then all unpaid principal of, and premium, if any, and accrued and unpaid interest on all the outstanding Securities Notes shall ipso facto become and be immediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Holder. Holders may not enforce the Indenture Indenture, the Notes or the Securities Note Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default or and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, interest on, any of the Securities Notes held by a non-consenting Holder. The Company Issuer is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company Issuer is required upon within 30 Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultand what action the Issuer proposes to take with respect thereto.

Appears in 1 contract

Samples: Indenture Agreement (Delphi Automotive PLC)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in writing in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, interest on, any of the Securities Notes held by a non-consenting Holder. The Company Issuer is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company Issuer is required upon within ten Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultand what action the Issuer proposes to take with respect thereto.

Appears in 1 contract

Samples: Indenture (Halyard Health, Inc.)

Defaults and Remedies. The Events of Default relating to the Securities are defined in Section 5.01 of the Base Indenture. If any an Event of Default occurs and is continuing, the Trustee Trustee, or the Holders of at least 25% in principal amount aggregate Original Principal Amount of the then outstanding Securities at the time outstanding, may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain Certain events of bankruptcy or insolvency, all outstanding insolvency are Events of Default which will result in the Securities shall become becoming due and payable immediately without further action or noticeupon the occurrence of such Events of Default. Holders may not enforce the Indenture or the Securities except as provided in the Indenture. The Trustee may refuse to enforce the Indenture or the Securities unless it receives reasonable indemnity or security. Subject to certain limitations, Holders of a majority in aggregate principal amount Original Principal Amount of the then Securities at the time outstanding Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default (except a Default relating to the in payment of principal, premium, if any, or interest) on any Security if it determines that withholding notice is in their interestinterests. The Holders of a majority in aggregate principal amount of Trustee Dealings with the Securities then outstanding Company. Subject to certain limitations imposed by notice to the TIA, the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, in its individual or any other capacity, may become the owner or pledgee of Securities and may otherwise deal with and collect obligations owed to it by the Company is required upon becoming aware or its Affiliates and may otherwise deal with the Company or its Affiliates with the same rights it would have if it were not Trustee. No Recourse Against Others. A director, officer, employee or stockholder, as such, of the Company shall not have any Default liability for any obligations of the Company under the Securities or Event the Indenture or for any claim based on, in respect of Defaultor by reason of such obligations or their creation. By accepting a Security, to deliver to each Holder waives and releases all such liability. The waiver and release are part of the Trustee a statement specifying such Default or Event consideration for the issue of Defaultthe Securities.

Appears in 1 contract

Samples: Indenture (Lockheed Martin Corp)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 2530% in principal amount of the then outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default or and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, interest on, any of the Securities Notes held by a non-consenting Holder. The Company is Issuers are required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is Issuers are required upon within ten (10) Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultand what action the Issuers propose to take with respect thereto.

Appears in 1 contract

Samples: Indenture (Nielsen CO B.V.)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the Notes then outstanding Securities may declare the principal, principal of and premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default or and its consequences under the Indenture except a continuing Default in payment of the principal of, of or premium, if any, or interest, if any, on, interest on any of the Securities Notes held by a non-consenting Holder. The Company Issuer is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company Issuer is required upon within five Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultand what action the Issuer proposes to take with respect thereto.

Appears in 1 contract

Samples: Indenture (Petco Holdings Inc)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then total outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or powerpower and may direct the Notes Collateral Agent to take certain actions. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if and so long as it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding Notes by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default and its consequences under the Indenture (except a continuing Default in the payment of the principal ofinterest on, premium, if any, or interest, if any, on, the principal of any of the Securities Note held by a non-consenting Holder) and rescind an acceleration and its consequences if the rescission would not conflict with any judgment or decree and if all existing Events of Default (except nonpayment of principal, interest, if any, or premium that has become due solely because of the acceleration) have been cured or waived. The Company Issuer and each Guarantor is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company Issuer is required upon within five Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultevent.

Appears in 1 contract

Samples: Indenture (BMC Stock Holdings, Inc.)

Defaults and Remedies. The Events If an Event of Default occurs (other than an Event of Default relating to the Securities are defined in Section 5.01 certain events of the Base Indenture. If bankruptcy, insolvency or reorganization of any Event of Default occurs Issuer) and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, principal of and accrued but unpaid interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediatelypayable. Notwithstanding the foregoing, in the case of If an Event of Default arising from relating to certain events of bankruptcy bankruptcy, insolvency or insolvencyreorganization of any Issuer occurs, the principal of and interest on all outstanding the Securities shall become immediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Holders. Under certain circumstances. the Holders of a majority in principal amount of the outstanding Securities may not rescind any such acceleration with respect to the Securities and its consequences. If an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any of the rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee indemnity or security satisfactory to it against any loss, liability or expense. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy with respect to the Indenture or the Securities except as provided unless (i) such Holder has previously given the Trustee notice that an Event of Default is continuing, (ii) Holders of at least 25% in principal amount of the Indenture. Subject to certain limitationsoutstanding Securities have requested in writing that the Trustee pursue the remedy, (iii) such Holders have offered the Trustee reasonable security or indemnity against any loss, liability or expense, (iv) the Trustee has not complied with such request within 60 days after the receipt of the request and the offer of security or indemnity and (v) the Holders of a majority in aggregate principal amount of the then outstanding Securities have not given the Trustee a direction inconsistent with such request within such 60-day period. Subject to certain restrictions, the Holders of a majority in principal amount of the outstanding Securities may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee in its exercise or of exercising any trust or powerpower conferred on the Trustee. The Trustee, however, may refuse to follow any direction that conflicts with law or the Indenture or that the Trustee may withhold from Holders of determines is unduly prejudicial to the Securities notice rights of any continuing Default (except a Default relating to the payment of principal, premium, if any, other Holder or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to would subject the Trustee may on behalf of the Holders of all of the Securities waive to personal liability. Prior to taking any existing Default and its consequences action under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such Default or Event of Defaultaction.

Appears in 1 contract

Samples: Indenture (Jones Apparel Group Inc)

AutoNDA by SimpleDocs

Defaults and Remedies. The If an Event of Default (other than certain bankruptcy Events of Default relating with respect to the Securities are defined in Section 5.01 Issuer or any of the Base Indenture. If any Event of Default Guarantors) occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of the Securities then outstanding Securities may declare all of the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding the foregoing, immediately in the case of an manner and with the effect provided in the Indenture. If a bankruptcy Event of Default arising from certain events with respect to the Issuer or any of bankruptcy or insolvencythe Guarantors occurs and is continuing, all outstanding the Securities shall become be immediately due and payable immediately in the manner and with the effect provided in the Indenture without further any notice or other action on the part of the Trustee or noticeany Holder. Holders of Securities may not enforce the Indenture Indenture, the Securities or the Securities Guarantees except as provided in the Indenture. Subject The Trustee is not obligated to enforce the Indenture, the Securities or the Guarantees unless it has received indemnity satisfactory to it. The Indenture permits, subject to certain limitationslimitations therein provided, Holders of a majority in aggregate principal amount of the Securities then outstanding Securities may to direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any certain continuing Defaults or Events of Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default.

Appears in 1 contract

Samples: Security Transfer Agreement (Comcast Cable Communications LLC)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined set forth in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may Notes may, subject to certain conditions and limitations set forth in the Indenture, declare the principalprincipal of, premium, if any, and interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvencyinsolvency described in the Indenture, all outstanding Securities shall Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Note Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default or Event of Default (except a Default or Event of Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing or past Default or Event of Default and its consequences under the Indenture except a continuing Default or Event of Default in payment of the principal of, premium, if any, or interest, if any, interest on, any of the Securities Notes (other than nonpayment of principal or interest that has become due solely because of acceleration) held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultand what action the Company proposes to take with respect thereto.

Appears in 1 contract

Samples: Indenture (WEX Inc.)

Defaults and Remedies. The Events of Default relating to the Securities are defined in Section 5.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities of a series may declare the principal, principal of and premium, if any, interest and interest, if any, and any other monetary obligations on all the then outstanding Securities of such series to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall become due and payable immediately without further action or notice. Holders may not enforce the Indenture or the Securities except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities may direct the Trustee in its their respective exercise of any trust or power. The Trustee may withhold from Holders of the Securities of any series notice of any continuing Default (except a Default relating to the payment of principal, the principal of or premium, if any, or interest, if any, on the Securities of such series or in the payment or delivery of any consideration due upon conversion or exchange of any Security of such series (if applicable)) if it determines they determine that withholding notice is in their interest. The Holders of not less than a majority in aggregate principal amount of the Securities of any series then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities of such series waive any an existing Default or Event of Default and its consequences under the Indenture hereunder, except a continuing Default or Event of Default in the payment of the principal ofamount, premium, if any, or and any accrued and unpaid interest, if any, onon any Security of such series or, any in the case of the Securities held by of any series that are convertible or exchangeable, in the payment or delivery of any consideration due upon conversion or exchange of the Securities of such series (including in connection with an offer to purchase) provided, however, that the Holders of a non-consenting Holdermajority in aggregate principal amount of the then outstanding Securities of any series may rescind an acceleration and its consequences, including any related payment default that resulted from such acceleration in accordance with Section 5.02. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default.

Appears in 1 contract

Samples: Indenture (Warner Chilcott LTD)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, Additional Interest, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default or and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interestAdditional Interest, if any, or interest on, any of the Securities Notes held by a non-consenting Holder. The Company Issuer and each Guarantor (to the extent that such Guarantor is so required under the Trust Indenture Act) is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company Issuer is required upon within five (5) Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultand what action the Issuer proposes to take with respect thereto.

Appears in 1 contract

Samples: Supplemental Indenture (Michaels Stores Inc)

Defaults and Remedies. The Events of Default relating to are set forth in the Securities are defined in Section 5.01 of the Base Indenture. If any Subject to certain limitations in the Indenture, if an Event of Default (other than an Event of Default specified in Section 6.1(d) or (e) of the Indenture with respect to the Company) occurs and is continuing, then the Trustee or the Holders holders of at least not less than 25% in aggregate principal amount of the then outstanding Securities may Series A Convertible Debentures may, or the Trustee may, declare the principalprincipal of, premium, if any, interest and any other monetary obligations on all the then outstanding Securities plus accrued interest, if any, to be due and payable immediately. Notwithstanding the foregoing, in the case of If an Event of Default arising from certain events specified in Section 6.1(d) or (e) of bankruptcy or insolvencythe Indenture with respect to the Company occurs and is continuing, the principal of, premium, if any, and accrued interest on all outstanding Securities of the Series A Convertible Debentures shall ipso facto become and be immediately due and payable immediately subject to the prior payment in full of Senior and Subordinated Debt without further action any declaration or noticeother act on the part of the Trustee or any Holder. Holders Series A Convertible Debentureholders may not enforce the Indenture or the Securities Series A Convertible Debentures except as provided in the Indenture. The Trustee may require indemnity reasonably satisfactory to it before it enforces the Indenture or the Series A Convertible Debentures. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Series A Convertible Debentures may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Series A Convertible Debentureholders notice of any continuing Default default (except a Default relating to the default in payment of principal, premium, if any, principal or interestinterest or a failure to comply with Article V of the Indenture) if it determines in good faith that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holderinterests. The Company is required to deliver must furnish an annual compliance certificate to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of DefaultTrustee.

Appears in 1 contract

Samples: First Supplemental Indenture (Aes Corporation)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then total outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if and so long as it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding Notes by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default and its consequences under the Indenture (except a continuing Default in the payment of the principal ofinterest on, premium, if any, or interest, if any, on, the principal of any of the Securities Note held by a non-consenting Holder) and rescind an acceleration and its consequences if the rescission would not conflict with any judgment or decree and if all existing Events of Default (except nonpayment of principal, interest, if any, or premium that has become due solely because of the acceleration) have been cured or waived. The Company Issuer and each Guarantor is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company Issuer is required upon within five Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultevent.

Appears in 1 contract

Samples: Indenture (Builders FirstSource, Inc.)

Defaults and Remedies. The Events If an Event of Default occurs (other than an Event of Default relating to the Securities are defined in Section 5.01 certain events of bankruptcy, insolvency or reorganization of the Base Indenture. If any Event of Default occurs Company) and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, principal of and accrued but unpaid interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediatelypayable. Notwithstanding the foregoing, in the case of If an Event of Default arising from relating to certain events of bankruptcy bankruptcy, insolvency or insolvencyreorganization of the Company occurs, the principal of and interest on all outstanding the Securities shall become immediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in principal amount of the outstanding Securities may not rescind any such acceleration with respect to the Securities and its consequences. If an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any of the rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee indemnity or security satisfactory to it in its reasonable discretion against any loss, liability or expense and certain other conditions are complied with. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy with respect to the Indenture or the Securities except as provided unless (i) such Holder has previously given the Trustee notice that an Event of Default is continuing, (ii) Holders of at least 25% in principal amount of the Indenture. Subject outstanding Securities have requested the Trustee in writing to certain limitationspursue the remedy, (iii) such Holders have offered the Trustee security or indemnity satisfactory to it in its reasonable discretion against any loss, liability or expense, (iv) the Trustee has not complied with such request within 60 days after the receipt of the request and the offer of security or indemnity and (v) the Holders of a majority in aggregate principal amount of the then outstanding Securities may direct have not given the Trustee in its exercise of any trust or powera direction inconsistent with such request within such 60-day period. The Trustee may withhold from Holders of Subject to certain restrictions, the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the outstanding Securities then outstanding by notice are given the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may on behalf of the Holders of all of the Securities waive refuse to follow any existing Default and its consequences under direction that conflicts with law or the Indenture except a continuing Default in payment of or that the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company Trustee determines is required to deliver unduly prejudicial to the rights of any other Holder or that would involve the Trustee annually a statement regarding compliance with in personal liability. Prior to taking any action under the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such Default or Event of Defaultaction.

Appears in 1 contract

Samples: Indenture (Kansas City Southern Industries Inc)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities Notes shall become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or or, without duplication, interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default or and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, interest on, any of the Securities Notes held by a non-consenting Holder. The Company Issuer is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company Issuer is required upon within five (5) Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default and what action the Issuer is taking or Event of Defaultproposes to take with respect thereto.

Appears in 1 contract

Samples: Indenture (American Media Inc)

Defaults and Remedies. (a) The Events of Default relating to the Securities Notes are defined in Section 5.01 7.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of the then outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture or the Securities Notes except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if and so long as it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding Notes by written notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default and its consequences under the Indenture (except a continuing Default in the payment of the principal ofinterest on, premium, if any, or interest, if any, on, the principal of any of the Securities Note held by a non-consenting Holder) and rescind an acceleration and its consequences if the rescission would not conflict with any judgment or decree and if all existing Events of Default (except nonpayment of principal, interest, if any, or premium that has become due solely because of the acceleration) have been cured or waived. The Company Issuer is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company Issuer is required upon within five Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default event. (b) If the Notes are accelerated or otherwise become due prior to the stated maturity, in each case, as a result of an Event of Default, the amount of principal of, accrued and unpaid interest and premium on the Notes that becomes due and payable shall equal 100% of the outstanding principal amount of the Notes on the date of such acceleration, plus accrued and unpaid interest.

Appears in 1 contract

Samples: Indenture (Community Choice Financial Inc.)

Defaults and Remedies. The Events If an Event of Default occurs (other than an Event of Default relating to the Securities are defined in Section 5.01 certain events of bankruptcy, insolvency or reorganization of either of the Base Indenture. If any Event of Default occurs Issuers) and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, principal of and accrued but unpaid interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediatelypayable. Notwithstanding the foregoing, in the case of If an Event of Default arising from relating to certain events of bankruptcy bankruptcy, insolvency or insolvencyreorganization of either of the Issuers occurs, the principal of and interest on all outstanding the Securities shall become immediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in principal amount of the outstanding Securities may not rescind any such acceleration with respect to the Securities and its consequences. 125 If an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any of the rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee reasonable indemnity or security against any loss, liability or expense and certain other conditions are complied with. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy with respect to the Indenture or the Securities except as provided unless (i) such Holder has previously given the Trustee notice that an Event of Default is continuing, (ii) Holders of at least 25% in principal amount of the Indenture. Subject outstanding Securities have requested the Trustee in writing to certain limitationspursue the remedy, (iii) such Holders have offered the Trustee reasonable security or indemnity against any loss, liability or expense, (iv) the Trustee has not complied with such request within 60 days after the receipt of the request and the offer of security or indemnity and (v) the Holders of a majority in aggregate principal amount of the then outstanding Securities may direct have not given the Trustee in its exercise of any trust or powera direction inconsistent with such request within such 60-day period. The Trustee may withhold from Holders of Subject to certain restrictions, the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the outstanding Securities then outstanding by notice are given the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may on behalf of the Holders of all of the Securities waive refuse to follow any existing Default and its consequences under direction that conflicts with law or the Indenture except a continuing Default in payment of or that the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company Trustee determines is required to deliver unduly prejudicial to the rights of any other Holder or that would involve the Trustee annually a statement regarding compliance with in personal liability. Prior to taking any action under the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such Default or Event of Defaultaction.

Appears in 1 contract

Samples: Indenture (Donjoy LLC)

Defaults and Remedies. The Events If an Event of Default occurs (other than an Event of Default relating to the Securities are defined in Section 5.01 certain events of bankruptcy, insolvency or reorganization of the Base Indenture. If any Event of Default occurs Company) and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, principal of and accrued but unpaid interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediatelypayable. Notwithstanding the foregoing, in the case of If an Event of Default arising from relating to certain events of bankruptcy bankruptcy, insolvency or insolvencyreorganization of the Company occurs, the principal of and interest on all outstanding the Securities shall become immediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in principal amount of the outstanding Securities may not rescind any such acceleration with respect to the Securities and its consequences. If an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any of the rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered to a Responsible Officer of the Trustee reasonable indemnity or security reasonably satisfactory to the Trustee against any loss, liability or expense and certain other conditions are complied with. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy with respect to the Indenture or the Securities except as provided unless (i) such Holder has previously given the Trustee notice that an Event of Default is continuing, (ii) Holders of at least 25% in principal amount of the Indenture. Subject outstanding Securities have requested the Trustee in writing to certain limitationspursue the remedy, (iii) such Holders have offered the Trustee reasonable security or indemnity reasonably satisfactory to the Trustee against any loss, liability or expense, (iv) the Trustee has not complied with such request within 60 days after the receipt of the request and the offer of security or indemnity and (v) the Holders of a majority in aggregate principal amount of the then outstanding Securities may direct have not given the Trustee in its exercise of any trust or powera direction inconsistent with such request within such 60-day period. The Trustee may withhold from Holders of Subject to certain restrictions, the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the outstanding Securities then outstanding by notice are given the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may on behalf of the Holders of all of the Securities waive refuse to follow any existing Default and its consequences under direction that conflicts with law or the Indenture except a continuing Default in payment of or that the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company Trustee determines is required to deliver unduly prejudicial to the rights of any other Holder or that would involve the Trustee annually a statement regarding compliance with in personal liability. Prior to taking any action under the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such Default or Event of Defaultaction.

Appears in 1 contract

Samples: Indenture (Commercial Aggregates Transportation & Sales LLC)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 2530% in principal amount of the then total outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if and so long as it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding Notes by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default and its consequences under the Indenture (except a continuing Default in the payment of the principal ofinterest on, premium, if any, or interest, if any, on, the principal of any of the Securities Note held by a non-consenting Holder) and rescind an acceleration and its consequences if the rescission would not conflict with any judgment or decree and if all existing Events of Default (except nonpayment of principal, interest, if any, or premium that has become due solely because of the acceleration) have been cured or waived. The Company Issuers and each Guarantor (to the extent that such Guarantor is so required under the Trust Indenture Act) is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is Issuers are required upon within five (5) Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultevent.

Appears in 1 contract

Samples: First Supplemental Indenture (Associated Materials, LLC)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default (other than an Event of Default arising from certain events of bankruptcy or insolvency) occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities Notes may declare the principal, premium, if any, principal of and accrued but unpaid interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediatelyimmediately by notice in writing to the Issuer and the Trustee (if given by the Holders) specifying the respective Event of Default and that it is a “notice of acceleration”, and the same shall become immediately due and payable. Notwithstanding the foregoing, in the case of If an Event of Default arising from certain events of bankruptcy or insolvencyinsolvency occurs and is continuing, then all unpaid principal of, and premium, if any, and accrued and unpaid interest on all the outstanding Securities Notes shall ipso facto become and be immediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Holder. Holders may not enforce the Indenture Indenture, the Notes or the Securities Note Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default or and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, interest on, any of the Securities Notes held by a non-consenting Holder. The Company Issuer is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company Issuer is required upon within 30 Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultand what action the Issuer proposes to take with respect thereto.

Appears in 1 contract

Samples: Indenture (Delphi Technologies PLC)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 2530.0% in principal amount of the then outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities Notes shall become due and payable immediately without further action or notice. Holders of the Notes may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the IndentureIndenture (and subject to the Intercreditor Agreement and any Additional Intercreditor Agreement) and may not enforce the Security Documents except as provided in such Security Documents (and subject to the Intercreditor Agreement and any Additional Intercreditor Agreement). Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal ofinterest on, premium, if any, or interest, if any, onthe principal of, any of the Securities Notes held by a non-consenting Holder. The Company Issuer is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company Issuer is required upon within five (5) Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultand what action the Issuer proposes to take with respect thereto.

Appears in 1 contract

Samples: Indenture (Clear Channel Outdoor Holdings, Inc.)

Defaults and Remedies. The Events If an Event of Default occurs (other than an Event of Default relating to the Securities are defined in Section 5.01 certain events of bankruptcy, insolvency or reorganization of the Base Indenture. If any Event of Default occurs Company) and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, principal of and accrued but unpaid interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediatelypayable. Notwithstanding the foregoing, in the case of If an Event of Default arising from relating to certain events of bankruptcy bankruptcy, insolvency or insolvencyreorganization of the Company occurs, the principal of and interest on all outstanding the Securities shall become immediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in principal amount of the outstanding Securities may not rescind any such acceleration with respect to the Securities and its consequences. If an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any of the rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee reasonable indemnity or security against any loss, liability or expense and certain other conditions are complied with. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy with respect to the Indenture or the Securities except as provided unless (i) such Holder has previously given the Trustee notice that an Event of Default is continuing, (ii) Holders of at least 25% in principal amount of the Indenture. Subject outstanding Securities have requested the Trustee in writing to certain limitationspursue the remedy, (iii) such Holders have offered the Trustee reasonable security or indemnity reasonably satisfactory to the Trustee against any loss, liability or expense, (iv) the Trustee has not complied with such request within 60 days after the receipt of the request and the offer of security or indemnity and (v) the Holders of a majority in aggregate principal amount of the then outstanding Securities may direct have not given the Trustee in its exercise of any trust or powera direction inconsistent with such request within such 60-day period. The Trustee may withhold from Holders of Subject to certain restrictions, the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the outstanding Securities then outstanding by notice are given the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may on behalf of the Holders of all of the Securities waive refuse to follow any existing Default and its consequences under direction that conflicts with law or the Indenture except a continuing Default in payment of or that the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company Trustee determines is required to deliver unduly prejudicial to the rights of any other Holder or that would involve the Trustee annually a statement regarding compliance with in personal liability. Prior to taking any action under the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such Default or Event of Defaultaction.

Appears in 1 contract

Samples: Indenture (Commercial Aggregates Transportation & Sales LLC)

Defaults and Remedies. The Events of Default relating to the Securities are defined in Section 5.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall become due and payable immediately without further action or notice. Holders may not enforce the Indenture or the Securities except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities may direct Table of Contents the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default.

Appears in 1 contract

Samples: Supplemental Indenture (American Tower Corp /Ma/)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 2525.0% in principal amount of the then outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities Notes shall become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding by notice to the Trustee may on behalf of the all Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal ofinterest on, premium, if any, or interest, if any, onthe principal of, any of the Securities Notes held by a non-consenting Holder. The Company Issuer is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company Issuer is required upon within five (5) Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultand what action the Issuer proposes to take with respect thereto.

Appears in 1 contract

Samples: Indenture (RR Donnelley & Sons Co)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 2525.0% in principal amount of the then outstanding Securities Notes by notice to the Issuer and the Trustee, in either case specifying in such notice the respective Event of Default and that such notice is a “notice of acceleration” may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding by notice to the Trustee (with a copy to the Issuer, provided that any waiver or rescission under Section 6.04 of the Indenture shall be valid and binding notwithstanding the failure to provide a copy of such notice to the Issuer) may on behalf of all the Holders of all of the Securities waive any existing Default default or and its consequences under the Indenture (except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, interest on any of the Securities Notes held by a non-consenting Holder) (including in connection with an Asset Sale Offer or a change of Control Offer) and rescind any acceleration with respect to the Notes and its consequences (except if such rescission would conflict with any judgment of a court of competent jurisdiction). The Company Issuer is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company Issuer is required upon within fifteen days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultand what action the Issuer proposes to take with respect thereto.

Appears in 1 contract

Samples: Supplemental Indenture (Campbell Alliance Group Inc)

Defaults and Remedies. The Events If an Event of Default occurs (other than an Event of Default relating to the Securities are defined in Section 5.01 certain events of the Base Indenture. If any Event of Default occurs bankruptcy, insolvency or reorganization) and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, principal of and accrued but unpaid interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediatelypayable. Notwithstanding the foregoing, in the case of If an Event of Default arising from relating to certain events of bankruptcy bankruptcy, insolvency or insolvencyreorganization occurs and is continuing, the principal of and interest on all outstanding the Securities shall ipso facto become and be immediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in principal amount of the outstanding Securities may not rescind any such acceleration with respect to the Securities and its consequences. If an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any of the rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee reasonable indemnity or security against any loss, liability or expense and certain other conditions are complied with. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy with respect to the Indenture or the Securities except as provided unless (i) such Holder has previously given to the Trustee written notice stating that an Event of Default is continuing, (ii) Holders of at least 25% in principal amount of the Indenture. Subject outstanding Securities have made a written request to certain limitationsthe Trustee to pursue the remedy, (iii) such Holder or Holders have offered to the Trustee reasonable security or indemnity against any loss, liability or expense, (iv) the Trustee has not complied with such request within 60 days after the receipt thereof and the offer of security or indemnity and (v) Holders of a majority in aggregate principal amount of the then outstanding Securities may direct have not given the Trustee in its exercise of any trust or powera direction inconsistent with such request during such 60-day period. The Trustee may withhold from Holders of Subject to certain restrictions, the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the outstanding Securities then outstanding by notice are given the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may on behalf of the Holders of all of the Securities waive refuse to follow any existing Default and its consequences under direction that conflicts with law or the Indenture except a continuing Default in payment of or that the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company Trustee determines is required to deliver unduly prejudicial to the rights of any other Holder or that would involve the Trustee annually a statement regarding compliance with in personal liability. Prior to taking any action under the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such Default or Event of Defaultaction.

Appears in 1 contract

Samples: Indenture (Murphy USA Inc.)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 2525.0% in principal amount of the then outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvencyinsolvency as set forth in the Indenture, all outstanding Securities Notes shall become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes (excluding any Notes directly or indirectly held by the Issuer or its Affiliates) may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding by notice to the Trustee may on behalf of all the Holders of all of the Securities waive any existing Default or and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, interest on, any of the Securities Notes held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon within five Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultand what action the Issuer proposes to take with respect thereto.

Appears in 1 contract

Samples: Indenture (SunOpta Inc.)

Defaults and Remedies. The Securities have the Events of Default relating to the Securities are defined as set forth in Section 5.01 6.1 of the Base Indenture. If any an Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount aggregate Principal Amount of the then outstanding Securities Securities, subject to certain limitations, may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain Certain events of bankruptcy or insolvency, all outstanding insolvency are Events of Default and shall result in the Securities shall become being due and payable immediately without further action or noticeupon the occurrence of such Events of Default. Holders of Securities may not enforce the Indenture or the Securities except as provided in the Indenture. The Trustee may refuse to enforce the Indenture or the Securities unless it receives reasonable indemnity or security. Subject to certain limitations, Holders of a majority in aggregate principal amount Principal Amount of the then outstanding Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount Principal Amount of the Securities then outstanding Securities, by written notice to the Trustee Trustee, may on behalf of the Holders of all of the Securities waive any existing Default rescind an acceleration and its consequences under if the Indenture rescission would not conflict with any judgment or decree and if all existing Events of Default (except a continuing Default in payment nonpayment of principal or interest that has become due solely because of the principal of, premium, if any, acceleration) have been cured or interest, if any, on, any waived. Except in the case of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default default or Event of DefaultDefault in the payment of any amount with respect to any Security, to deliver to the Trustee a statement specifying shall be protected in withholding notice of such Default default or Event of DefaultDefault from the Holders, if the Trustee in good faith determines that the withholding of such notice is in the interests of the Holders. The above description of Events of Default and remedies is qualified by reference, and subject in its entirety, to the more complete description thereof contained in the Indenture.

Appears in 1 contract

Samples: Indenture (Piedmont Management Co Inc)

Defaults and Remedies. The Events If an Event of Default occurs (other than an Event of Default relating to the Securities are defined in Section 5.01 certain events of bankruptcy, insolvency or reorganization of the Base Indenture. If any Event of Default occurs Issuer) and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, principal of and accrued but unpaid interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediatelypayable. Notwithstanding the foregoing, in the case of If an Event of Default arising from relating to certain events of bankruptcy bankruptcy, insolvency or insolvencyreorganization of the Issuer occurs, the principal of and interest on all outstanding the Securities shall become immediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in principal amount of the outstanding Securities may not rescind any such acceleration with respect to the Securities and its consequences. If an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any of the rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee reasonable indemnity or security against any loss, liability or expense. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy with respect to the Indenture or the Securities except as provided unless (i) such Holder has previously given the Trustee notice that an Event of Default is continuing, (ii) Holders of at least 25% in principal amount of the Indenture. Subject outstanding Securities have requested the Trustee in writing to certain limitationspursue the remedy, (iii) such Holders have offered the Trustee reasonable security or indemnity against any loss, liability or expense, (iv) the Trustee has not complied with such request within 60 days after the receipt of the request and the offer of security or indemnity and (v) the Holders of a majority in aggregate principal amount of the then outstanding Securities may direct have not given the Trustee in its exercise of any trust or powera direction inconsistent with such request within such 60-day period. The Trustee may withhold from Holders of Subject to certain restrictions, the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the outstanding Securities then outstanding by notice are given the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may on behalf of the Holders of all of the Securities waive refuse to follow any existing Default and its consequences under direction that conflicts with law or the Indenture except a continuing Default in payment of or that the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company Trustee determines is required to deliver unduly prejudicial to the rights of any other Holder or that would involve the Trustee annually a statement regarding compliance with in personal liability. Prior to taking any action under the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such Default or Event of Defaultaction.

Appears in 1 contract

Samples: Indenture (Acs Infosource Inc)

Defaults and Remedies. The Events of Default relating to the Securities are defined in Section 5.01 of the Base Indenture. If any an Event of Default occurs and is continuingcontinuing (other than an Event of Default relating to certain events of bankruptcy, insolvency or reorganization in which events all principal, accrued interest and Additional Amounts, if any, with respect to the Securities will be immediately due and payable without any declaration or other act on the part of the Trustee or the Holders), then in every such case, unless the principal of all of the Securities shall have already become due and payable, either the Trustee or the Holders of at least 25% in aggregate principal amount of the Securities then outstanding Securities may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding the foregoing, immediately in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall become due manner and payable immediately without further action or noticewith the effect pro- vided in the Indenture. Holders of Securities may not enforce the Indenture or the Securities except as provided in the Indenture. The Trustee may require indemnity satisfactory to it before it enforces the Indenture or the Securities. Subject to certain limitations, Holders of a majority in aggregate principal amount of the Securities then outstanding Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default or Event of Default (except a Default relating to the in payment of principal, premiuminterest or Additional Amounts), if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default11.

Appears in 1 contract

Samples: Indenture (Checkpoint Systems Inc)

Defaults and Remedies. The Events of Default relating to the Securities are defined in Section 5.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee Trustee, by notice to the Company, or the Holders of at least 25% in aggregate principal amount of the then outstanding Securities Notes, by notice to the Company and the Trustee, may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoingpreceding, in the case of an Event of Default arising from certain such events of bankruptcy bankruptcy, insolvency or insolvencyreorganization described in Section 6.01(i) or 6.01(j) of the Indenture with respect to the Company or a Guarantor, all outstanding Securities Notes shall become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Collateral Documents except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or powerpower conferred on it with respect to the Notes. The Trustee may withhold from Holders of the Securities Holder notice of any continuing Default (except a or Event of Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest, except a Default or Event of Default relating to the payment of principal of, or interest or premium, if any, on, the Notes. The Holders of a majority in aggregate principal amount of the Securities then outstanding Notes by notice to the Trustee may may, on behalf of the Holders of all of the Securities Notes, rescind an acceleration or waive any existing Default or Event of Default and its consequences under the Indenture Indenture, except a continuing Default as provided in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting HolderIndenture. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and within 10 Business Days of any of its Officers or any of the Company is required upon Company’s Officers becoming aware of any Default or Event of Default, the Company is required to deliver to the Trustee a statement specifying such Default or Event of Default.

Appears in 1 contract

Samples: Indenture (Vantage Drilling International)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the Notes then outstanding Securities may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, interest on, any of the Securities Notes held by a non-consenting Holder. The Company Issuer is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company Issuer is required upon becoming aware within 30 days after the occurrence of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultand what action the Issuer proposes to take with respect thereto.

Appears in 1 contract

Samples: Indenture (Patheon Inc)

Defaults and Remedies. The Events If an Event of Default occurs (other than an Event of Default relating to the Securities are defined in Section 5.01 certain events of bankruptcy, insolvency or reorganization of the Base Indenture. If any Event of Default occurs Company) and is continuing, the Trustee or the Holders of at least 2530% in principal amount of the then outstanding Securities may declare the principal, premium, if any, principal of and accrued but unpaid interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediatelypayable. Notwithstanding the foregoing, in the case of If an Event of Default arising from relating to certain events of bankruptcy bankruptcy, insolvency or insolvencyreorganization of the Company occurs, the principal of and interest on all outstanding the Securities shall become immediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in principal amount of the outstanding Securities may not rescind any such acceleration with respect to the Securities and its consequences. If an Event of Default occurs and is continuing, the Trustee will be under no obligation to exercise any of the rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee reasonable indemnity or security against any loss, liability or expense. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy with respect to the Indenture or the Securities except as provided unless (i) such Holder has previously given the Trustee notice that an Event of Default is continuing, (ii) Holders of at least 30% in principal amount of the Indenture. Subject outstanding Securities have requested the Trustee in writing to certain limitationspursue the remedy, (iii) such Holders have offered the Trustee reasonable security or indemnity against any loss, liability or expense, (iv) the Trustee has not complied with such request within 60 days after the receipt of the request and the offer of security or indemnity and (v) the Holders of a majority in aggregate principal amount of the then outstanding Securities may direct have not given the Trustee in its exercise of any trust or powera direction inconsistent with such request within such 60-day period. The Trustee may withhold from Holders of Subject to certain restrictions, the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the outstanding Securities then outstanding by notice are given the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may on behalf of the Holders of all of the Securities waive refuse to follow any existing Default and its consequences under direction that conflicts with law or the Indenture except a continuing Default in payment of or that the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company Trustee determines is required to deliver unduly prejudicial to the rights of any other Holder or that would involve the Trustee annually a statement regarding compliance with in personal liability. Prior to taking any action under the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying will be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such Default or Event of Defaultaction.

Appears in 1 contract

Samples: Indenture (Evenflo Co Inc)

Defaults and Remedies. The Events If an Event of Default occurs (other than an Event of Default relating to certain events of bankruptcy, insolvency or reorganization of the Company) and is continuing, the Trustee or the Noteholders of at least 25% in principal amount of the outstanding Securities may declare the principal of and accrued but unpaid interest on all the Securities are defined in Section 5.01 to be due and payable. If an 109 Event of Default relating to certain events of bankruptcy, insolvency or reorganization of the Base IndentureCompany occurs, the principal of and interest on all the Securities shall become immediately due and payable without any declaration or other act on the part of the Trustee or any Noteholders. Under certain circumstances, the Noteholders of a majority in principal amount of the outstanding Securities may rescind any such acceleration with respect to the Securities and its consequences. If any an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any of the rights or powers under the Indenture at the request or direction of any of the Noteholders unless such Noteholders have offered to the Trustee reasonable indemnity or security against any loss, liability or expense and certain other conditions are complied with. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Noteholder may pursue any remedy with respect to the Indenture or the Holders Securities unless (i) such Noteholder has previously given the Trustee notice that an Event of Default is continuing, (ii) Noteholders of at least 25% in principal amount of the then outstanding Securities may declare have requested the principalTrustee in writing to pursue the remedy, premium(iii) such Noteholders have offered the Trustee reasonable security or indemnity against any loss, if anyliability or expense, interest (iv) the Trustee has not complied with such request within 60 days after the receipt of the request and any other monetary obligations on all the then offer of security or indemnity and (v) the Noteholders of a majority in principal amount of the outstanding Securities to be due and payable immediately. Notwithstanding have not given the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall become due and payable immediately without further action or notice. Holders may not enforce the Indenture or the Securities except as provided in the IndentureTrustee a direction inconsistent with such request within such 60-day period. Subject to certain limitationsrestrictions, Holders the Noteholders of a majority in aggregate principal amount of the then outstanding Securities are given the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may direct refuse to follow any direction that conflicts with law or the Indenture or that the Trustee determines is unduly prejudicial to the rights of any other Noteholder or that would involve the Trustee in its exercise of personal liability. Prior to taking any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences action under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such Default or Event of Defaultaction.

Appears in 1 contract

Samples: Indenture (Wki Holding Co Inc)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then total outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if and so long as it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding Notes by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default and its consequences under the Indenture (except a continuing Default in the payment of the principal ofinterest on, premium, if any, or interest, if any, on, the principal of any of the Securities Note held by a non-consenting Holder) and rescind an acceleration and its consequences if the rescission would not conflict with any judgment or decree and if all existing Events of Default (except nonpayment of principal, interest, if any, or premium that has become due solely because of the acceleration) have been cured or waived. The Company Issuer and each Subsidiary Guarantor is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company Issuer is required upon within ten Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default event. If the Notes are accelerated or otherwise become due prior to the stated maturity, in each case, as a result of an Event of Default, the amount of principal of, accrued and unpaid interest and premium on the Notes that becomes due and payable shall equal 100% of the outstanding principal amount of the Notes on the date of such acceleration plus accrued and unpaid interest.

Appears in 1 contract

Samples: Indenture (Community Choice Financial Inc.)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the Notes then outstanding Securities may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, Additional Interest, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default or and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interestAdditional Interest, if any, or interest on, any of the Securities Notes held by a non-consenting Holder. The Company Issuer and each Guarantor (to the extent that such Guarantor is so required under the Trust Indenture Act) is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company Issuer is required upon within five (5) Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultand what action the Issuer proposes to take with respect thereto.

Appears in 1 contract

Samples: Indenture (Merge Healthcare Inc)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. .If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 2525.0% in principal amount of the then outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities Notes shall become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal ofinterest on, premium, if any, or interest, if any, onthe principal of, any of the Securities Notes held by a non-consenting Holder. The Company Issuer is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company Issuer is required upon within five (5) Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultand what action the Issuer proposes to take with respect thereto.

Appears in 1 contract

Samples: Indenture (iHeartCommunications, Inc.)

Defaults and Remedies. The Events of Default relating to the Securities Senior PIK Election Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 2530% in principal amount of the then outstanding Securities Senior Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Senior Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall Senior Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Senior PIK Election Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Senior Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Senior PIK Election Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, Special Interest, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities Senior Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities Senior Notes waive any existing Default or and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interestSpecial Interest, if any, or interest on, any of the Securities Senior Notes held by a non-consenting Holder. The Company and each Guarantor (to the extent that such Guarantor is so required under the Trust Indenture Act) is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon within five (5) Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultand what action the Company proposes to take with respect thereto.

Appears in 1 contract

Samples: Indenture (Hawker Beechcraft Quality Support Co)

Defaults and Remedies. The Events An Event of Default relating to includes the Securities are defined in Section 5.01 occurrence of any of the Base Indenturefollowing: default in payment of principal or Change in Control Price or Redemption Price of any Security, when the same becomes due and payable; default for 30 days in payment of accrued and unpaid interest, Additional Interest Amount or Additional Amounts; failure by the Company for 30 days after notice to it to comply with any of its other agreements in the Indenture or the Securities; certain payment defaults or the acceleration of other Indebtedness of the Company and its Subsidiaries and certain events of bankruptcy or insolvency involving the Company or its Significant Subsidiaries. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of the Securities then outstanding Securities may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding the foregoing, except as provided in the case of Indenture. If an Event of Default arising from certain events specified in Section 601(v) or (vi) of bankruptcy or insolvencythe Indenture with respect to the Company occurs, the principal of and accrued interest on all outstanding the Securities shall IPSO FACTO become and be immediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Security Holder. Security Holders may not enforce the Indenture or the Securities except as provided in the Indenture. The Trustee may require indemnity satisfactory to it before it enforces the Indenture or the Securities. Subject to certain limitations, Holders of a majority in aggregate principal amount of the Securities then outstanding Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Security Holders of the Securities notice of any continuing Default or Event of Default (except a Default relating to the payment or Event of principal, premium, if any, or interestDefault in payment) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount the interests of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting HolderSecurity Holders. The Company is required to deliver must furnish an annual compliance certificate to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of DefaultTrustee.

Appears in 1 contract

Samples: Indenture (Axcan Pharma Inc)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default or and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, interest on, any of the Securities Notes held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon within five (5) Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultand what action the Company proposes to take with respect thereto.

Appears in 1 contract

Samples: Indenture (Brightstar Corp.)

Defaults and Remedies. The Events of Default relating include: default in payment of interest on the Debentures for thirty (30) days; default in payment of principal on the Debentures at maturity, upon acceleration, redemption or otherwise; failure by the Company for the period specified in the Indenture after notice to it to perform certain covenants and to comply with any of its other agreements in the Securities are defined in Section 5.01 Indenture or the Debentures; certain final judgments which remain undischarged; and certain events of bankruptcy of the Base IndentureCompany. If any an Event of Default resulting from such events of bankruptcy of the Company occurs and is continuing, the Trustee or the Holders of at least 2530% in principal amount of the then outstanding Securities Debentures may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Debentures to be due and payable immediately. Notwithstanding If other Events of Default under the foregoingIndenture shall have occurred and be continuing, the Trustee may, in its discretion and subject to the case indemnity provisions referenced hereinafter, proceed to protect and enforce its rights and the rights of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities the Holders by such appropriate judicial proceedings as the Trustee shall become due and payable immediately without further action or noticedeem most effectual under the circumstances. Holders Debentureholders may not enforce the Indenture or the Securities Debentures except as provided in the Indenture. The Trustee may require indemnity satisfactory to it before it enforces the Indenture or the Debentures. Subject to certain limitationslimitations (including the indemnity referenced in the foregoing sentence), Holders of a majority in aggregate principal amount of the then outstanding Securities Debentures may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Debentureholders notice of any continuing Default default (except a Default relating to the default in payment of principal, premium, if any, principal or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holderinterests. The Company is required to deliver must furnish an annual compliance certificate to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of DefaultTrustee.

Appears in 1 contract

Samples: Indenture (Republic Bancshares Inc)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 2530% in principal amount of the then outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, Additional Interest, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interestAdditional Interest, if any, or interest on, any of the Securities Notes held by a non-consenting Holder. The Company Issuers and each Guarantor (to the extent that such Guarantor is so required under the Trust Indenture Act) is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company Issuers is required upon within five (5) Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultand what action the Issuers proposes to take with respect thereto.

Appears in 1 contract

Samples: Indenture (Avago Technologies LTD)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 2530% in principal amount of the then outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default or and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, interest on, any of the Securities Notes held by a non-consenting Holder. The Company Issuer is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company Issuer is required upon within five (5) Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultand what action the Issuer intends to take with respect thereto.

Appears in 1 contract

Samples: Indenture (West Corp)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 2530% in aggregate principal amount of the then outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding Notes by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default or and its consequences under the Indenture except a continuing Default in payment of the principal ofprincipal, premium, if any, or interest, if any, interest on, any of the Securities Notes held by a non-consenting Holder. The Company EFIH is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company EFIH is required upon within five Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultand what action the EFIH proposes to take with respect thereto.

Appears in 1 contract

Samples: Indenture (EFIH Finance Inc.)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 2530.0% in principal amount of the then outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default or and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, interest on, any of the Securities Notes held by a non-consenting Holder. The Company Issuer is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company Issuer is required upon within ten Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultand what action the Issuer proposes to take with respect thereto.

Appears in 1 contract

Samples: Senior Notes Indenture (Surgical Care Affiliates, Inc.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!