Common use of Disputes with Holders of Certain Senior Indebtedness Clause in Contracts

Disputes with Holders of Certain Senior Indebtedness. Any failure by the Company to make any payment on or perform any other obligation in respect of Senior Indebtedness, other than any indebtedness incurred by the Company or assumed or guaranteed, directly or indirectly, by the Company for money borrowed (or any deferral, renewal, extension or refunding thereof) or any other obligation as to which the provisions of this Section shall have been waived by the Company in the instrument or instruments by which the Company incurred, assumed, guaranteed or otherwise created such indebtedness or obligation, shall not be deemed a default under clause (b) of Section 1502 if (i) the Company shall be disputing its obligation to make such payment or perform such obligation and (ii) either (A) no final judgment relating to such dispute shall have been issued against the Company which is in full force and effect and is not subject to further review, including a judgment that has become final by reason of the expiration of the time within which a party may seek further appeal or review, or (B) in the event that a judgment that is subject to further review or appeal has been issued, the Company shall in good faith be prosecuting an appeal or other proceeding for review and a stay or execution shall have been obtained pending such appeal or review.

Disputes with Holders of Certain Senior Indebtedness. Any failure by the Company Issuer to make any payment on or perform any other obligation in respect of under Senior Indebtedness, other than any indebtedness incurred by the Company Issuer or assumed or guaranteed, directly or indirectly, by the Company Issuer for money borrowed (or any deferral, renewal, extension or refunding thereof) or any other indebtedness or obligation as to which the provisions of this Section shall have been waived by the Company Issuer in the instrument or instruments by which the Company Issuer incurred, assumed, guaranteed or otherwise created such indebtedness or obligation, shall not be deemed a default or event of default under clause (bSection 13.01(b) of Section 1502 if (ia) the Company Issuer shall be disputing its obligation to make such payment or perform such obligation and (iib) either (Ai) no final judgment relating to such dispute shall have been issued against the Company Issuer which is in full force and effect and is not subject to further review, including a judgment that has become final by reason of the expiration of the time within which a party may seek further appeal or review, or and (Bii) in the event that of a judgment that is subject to further review or appeal has been issued, the Company Issuer shall in good faith be prosecuting an appeal or other proceeding for review and a stay or of execution shall have been obtained pending such appeal or review.

Disputes with Holders of Certain Senior Indebtedness. Any failure by the Company Issuer to make any payment on or perform any other obligation in respect of under Senior Indebtedness, other than any indebtedness incurred by the Company Issuer or assumed or guaranteed, directly or indirectly, by the Company Issuer for money borrowed (or any deferral, renewal, extension or refunding thereof) or any other indebtedness or obligation as to which the provisions of this Section shall have been waived by the Company Issuer in the instrument or instruments by which the Company Issuer incurred, assumed, guaranteed or otherwise created such indebtedness or obligation, shall not be deemed a default or event of default under clause (bSection 13.1(b) of Section 1502 if (i) the Company Issuer shall be disputing its obligation to make such payment or perform such obligation and (ii) either (A) no final judgment relating to such dispute shall have been issued against the Company Issuer which is in full force and effect and is not subject to further review, including a judgment that has become final by reason of the expiration of the time within which a party may seek further appeal or review, or and (B) in the event that of a judgment that is subject to further review or appeal has been issued, the Company Issuer shall in good faith be prosecuting an appeal or other proceeding for review and a stay or of execution shall have been obtained pending such appeal or review.

Disputes with Holders of Certain Senior Indebtedness. Any failure by the Company Corporation to make any payment on or perform any other obligation in respect of under Senior Indebtedness, other than any indebtedness incurred by the Company Corporation or assumed or guaranteed, directly or indirectly, by the Company Corporation for money borrowed (or any deferral, renewal, extension or refunding thereof) or any other indebtedness or obligation as to which the provisions of this Section shall have been waived by the Company Corporation in the instrument or instruments by which the Company Corporation incurred, assumed, guaranteed or otherwise created such indebtedness or obligation, shall not be deemed a default or event of default under clause (bSection 1401(b) of Section 1502 if (i) the Company Corporation shall be disputing its obligation to make such payment or perform such obligation and (ii) either (A) no final judgment relating to such dispute shall have been issued against the Company Corporation which is in full force and effect and is not subject to further review, including a judgment that has become final by reason of the expiration of the time within which a party may seek further appeal or review, or and (B) in the event that of a judgment that is subject to further review or appeal has been issued, the Company Corporation shall in good faith be prosecuting an appeal or other proceeding for review and a stay or of execution shall have been obtained pending such appeal or review.

Disputes with Holders of Certain Senior Indebtedness. Any failure by the Company to make any payment on or perform any other obligation in respect of Senior Indebtedness, other than any indebtedness incurred by the Company or assumed or guaranteed, directly or indirectly, by the Company for money borrowed (or any deferral, renewal, extension or refunding thereof) or any other obligation as to which the provisions of this Section shall have been waived by the Company in the instrument or instruments by which the Company incurred, assumed, guaranteed or otherwise created such indebtedness or obligation, shall not be deemed a default under clause (b) of Section 1502 15.02 if (i) the Company shall be disputing its obligation to make such payment or perform such obligation and (ii) either (A) no final judgment relating to such dispute shall have been issued against the Company which is in full force and effect and is not subject to further review, including a judgment that has become final by reason of the expiration of the time within which a party may seek further appeal or review, or (B) in the event that a judgment that is subject to further review or appeal has been issued, the Company shall in good faith be prosecuting an appeal or other proceeding for review and a stay or execution shall have been obtained pending such appeal or review.

Disputes with Holders of Certain Senior Indebtedness. Any failure by the Company to make any payment on or perform any other obligation in respect of Senior Indebtedness, other than any indebtedness incurred by the Company or assumed or guaranteed, directly or indirectly, by the Company for money borrowed (or any deferral, renewal, extension or refunding thereof) or any other obligation as to which the provisions of this Section shall have been waived by the Company in the instrument or instruments by which the Company incurred, assumed, guaranteed or otherwise created such indebtedness or obligation, shall not be deemed a default under clause (b) of Section 1502 1602 if (i) the Company shall be disputing its obligation to make such payment or perform such obligation and (ii) either (A) no final judgment relating to such dispute shall have been issued against the Company which is in full force and effect and is not subject to further review, including a judgment that has become final by reason of the expiration of the time within which a party may seek further appeal or review, or (B) in the event that a judgment that is subject to further review or appeal has been issued, the Company shall in good faith be prosecuting an appeal or other proceeding for review and a stay or execution shall have been obtained pending such appeal or review.

Disputes with Holders of Certain Senior Indebtedness. Any failure by the Company to make any payment on or perform any other obligation in respect of Senior Indebtedness, other than any indebtedness incurred by the Company or assumed or guaranteed, directly or indirectly, by the Company for money borrowed (or any deferral, renewal, extension or refunding thereof) or any other obligation as to which the provisions of this Section shall have been waived by the Company in the instrument or instruments by which the Company incurred, assumed, guaranteed or otherwise created such indebtedness or obligation, shall not be deemed a default under clause (b) of Section 1502 1402 if (i) the Company shall be disputing its obligation to make such payment or perform such obligation and (ii) either (A) no final judgment relating to such dispute shall have been issued against the Company which is in full force and effect and is not subject to further review, including a judgment that has become final by reason of the expiration of the time within which a party may seek further appeal or review, or (B) in the event that a judgment that is subject to further review or appeal has been issued, the Company shall in good faith be prosecuting an appeal or other proceeding for review and a stay or execution shall have been obtained pending such appeal or review.

Disputes with Holders of Certain Senior Indebtedness. Any failure by the Company Issuer to make any payment on or perform any other obligation in respect of under Senior Indebtedness, other than any indebtedness incurred by the Company Issuer or assumed or guaranteed, directly or indirectly, by the Company Issuer for money borrowed (or any deferral, renewal, extension or refunding thereof) or any other indebtedness or obligation as to which the provisions of this Section shall have been waived by the Company Issuer in the instrument or instruments by which the Company Issuer incurred, assumed, guaranteed or otherwise created such indebtedness or obligation, shall not be deemed a default or event of default under clause (bSection 6.1(b)(ii) of Section 1502 if (i1) the Company Issuer shall be disputing its obligation to make such payment or perform such obligation and (ii2) either (Ai) no final judgment relating to such dispute shall have been issued against the Company Issuer which is in full force and effect and is not subject to further review, including a judgment that has become final by reason of the expiration of the time within which a party may seek further appeal or review, or and (Bii) in the event that of a judgment that is subject to further review or appeal has been issued, the Company Issuer shall in good faith be prosecuting an appeal or other proceeding for review and a stay or of execution shall have been obtained pending such appeal or review.

Disputes with Holders of Certain Senior Indebtedness. Any failure by the Company to make any payment on or perform any other obligation in respect of under Senior Indebtedness, other than any indebtedness incurred by the Company or assumed or guaranteed, directly or indirectly, by the Company for money borrowed (or any deferral, renewal, extension or refunding thereof) or any other indebtedness or obligation as to which the provisions of this Section shall have been waived by the Company in the instrument or instruments by which the Company incurred, assumed, guaranteed or otherwise created such indebtedness or obligation, shall not be deemed a default or event of default under clause (bSection 1402(b) of Section 1502 if (i) the Company shall be disputing its obligation to make such payment or perform such obligation and (ii) either (A) no final judgment relating to such dispute shall have been issued against the Company which is in full force and effect and is not subject to further review, including a judgment that has become final by reason of the expiration of the time within which a party may seek further appeal or review, or (B) in the event that of a judgment that is subject to further review or appeal has been issued, the Company shall in good faith be prosecuting an appeal or other proceeding for review and a stay or of execution shall have been obtained pending such appeal or review.

Disputes with Holders of Certain Senior Indebtedness. Any failure by the Company Issuer to make any payment on or perform any other obligation in respect of under Senior Indebtedness, other than any indebtedness incurred by the Company Issuer or assumed or guaranteed, directly or indirectly, by the Company Issuer for money borrowed (or any deferral, renewal, extension or refunding thereof) or any other indebtedness or obligation as to which the provisions of this Section shall have been waived by the Company Issuer in the instrument or instruments by which the Company Issuer incurred, assumed, guaranteed or otherwise created such indebtedness or obligation, shall not be deemed a default or event of default under clause (bSection 4.1.2(b) of Section 1502 if (ia) the Company Issuer shall be disputing its obligation to make such payment or perform such obligation and (iib) either (Ai) no final judgment relating to such dispute shall have been issued against the Company Issuer which is in full force and effect and is not subject to further review, including a judgment that has become final by reason of the expiration of the time within which a party may seek further appeal or review, or and (Bii) in the event that of a judgment that is subject to further review or appeal has been issued, the Company Issuer shall in good faith be prosecuting an appeal or other proceeding for review and a stay or of execution shall have been obtained pending such appeal or review.

Disputes with Holders of Certain Senior Indebtedness. Any failure by the Company to make any payment on or perform any other obligation in respect of under Senior Indebtedness, other than any indebtedness incurred by the Company or assumed or guaranteed, directly or indirectly, by the Company for money borrowed (or any deferral, renewal, extension or refunding thereof) or any other indebtedness or obligation as to which the provisions of this Section shall have been waived by the Company in the instrument or instruments by which the Company incurred, assumed, guaranteed or otherwise created such indebtedness or obligation, shall not be deemed a default or event of default under clause (bSection 1401(b) of Section 1502 if (i) the Company shall be disputing its obligation to make such payment or perform such obligation and (ii) either (A) no final judgment relating to such dispute shall have been issued against the Company which is in full force and effect and is not subject to further review, including a judgment that has become final by reason of the expiration of the time within which a party may seek further appeal or review, or and (B) in the event that of a judgment that is subject to further review or appeal has been issued, the Company shall in good faith be prosecuting an appeal or other proceeding for review and a stay or of execution shall have been obtained pending such appeal or review.

Disputes with Holders of Certain Senior Indebtedness. Any failure by the Company to make any payment on or perform any other obligation in respect of Senior Indebtedness, other than any indebtedness incurred by the Company or assumed or guaranteed, directly or indirectly, by the Company for money borrowed (or any deferral, renewal, extension or refunding thereof) or any other obligation as to which the provisions of this Section shall have been waived by the Company in the instrument or instruments by which the Company incurred, assumed, guaranteed or otherwise created such indebtedness or obligation, shall not be deemed a default under clause (b) of Section 1502 if (i) the Company shall be disputing its obligation to make such payment or perform such obligation and (ii) either (A) no final judgment relating to such dispute shall have been issued against the Company which is in full force and effect and is not subject to further review, including a judgment that has become final by reason of the expiration of the time within which a party may seek further appeal or review, or (B) in the event that a judgment that is subject to further review or appeal has been issued, the Company shall in good faith be prosecuting an appeal or other proceeding for review and a stay or of execution shall have been obtained pending such appeal or review.

Disputes with Holders of Certain Senior Indebtedness. Any failure by the Company Issuer to make any payment on or perform any other obligation in respect of under Senior Indebtedness, other than any indebtedness incurred by the Company Issuer or assumed or guaranteed, directly or indirectly, by the Company Issuer for money borrowed (or any deferral, renewal, extension or refunding thereof) or any other indebtedness or obligation as to which the provisions of this Section shall have been waived by the Company Issuer in the instrument or instruments by which the Company Issuer incurred, assumed, guaranteed or otherwise created such indebtedness or obligation, shall not be deemed a default or event of default under clause (bSection 14.01(b) of Section 1502 if (ia) the Company shall be Issuer is disputing its obligation to make such payment or perform such obligation and (iib) either (Ai) no final judgment relating to such dispute shall have been issued against the Company which Issuer that is in full force and effect and is not subject to further review, including a judgment that has become final by reason of the expiration of the time within which a party may seek further appeal or review, or (Bii) in the event that a judgment that is subject to further review or appeal has been issued, the Company Issuer shall in good faith be prosecuting an appeal or other proceeding for review and a stay or of execution shall have been obtained pending such appeal or review.

Disputes with Holders of Certain Senior Indebtedness. Any failure by the Company to make any payment on or perform any other obligation in respect of Senior Indebtedness, other than any indebtedness incurred by the Company or assumed or guaranteed, directly or indirectly, by the Company for money borrowed (or any deferral, renewal, extension or refunding thereof) or any other obligation as to which the provisions of this Section shall have been waived by the Company in the instrument or instruments by which the Company incurred, assumed, guaranteed or otherwise created such indebtedness or obligation, shall not be deemed a default under clause (b) of Section 1502 if (i) the Company shall be disputing its obligation to make such payment or perform such obligation and (ii) either (A) no final judgment relating to such dispute shall have been issued against the Company which that is in full force and effect and is not subject to further review, including a judgment that has become final by reason of the expiration of the time within which a party may seek further appeal or review, or (B) in the event that a judgment that is subject to further review or appeal has been issued, the Company shall in good faith be prosecuting an appeal or other proceeding for review and a stay or of execution shall have been obtained pending such appeal or review.

Disputes with Holders of Certain Senior Indebtedness. Any failure by the Company to make any payment on or perform any other obligation in respect of under Senior Indebtedness, other than any indebtedness incurred by the Company or assumed or guaranteed, directly or indirectly, by the Company for money borrowed (or any deferral, renewal, extension or refunding thereof) or any other indebtedness or obligation as to which the provisions of this Section shall have been waived by the Company in the instrument or instruments by which the Company incurred, assumed, guaranteed or otherwise created such indebtedness or obligation, shall not be deemed a default or event of default under clause (bSection 7.1.2(b) of Section 1502 if (ia) the Company shall be disputing its obligation to make such payment or perform such obligation and (iib) either (Ai) no final judgment relating to such dispute shall have been issued against the Company which is in full force and effect and is not subject to further review, including a judgment that has become final by reason of the expiration of the time within which a party may seek further appeal or review, or and (Bii) in the event that of a judgment that is subject to further review or appeal has been issued, the Company shall in good faith be prosecuting an appeal or other proceeding for review and a stay or of execution shall have been obtained pending such appeal or review.

Disputes with Holders of Certain Senior Indebtedness. Any failure by the Company to make any payment on or perform any other obligation in respect of under Senior Indebtedness, other than any indebtedness incurred by the Company or assumed or guaranteed, directly or indirectly, by the Company for money borrowed (or any deferral, renewal, extension or refunding thereof) or any other indebtedness or obligation as to which the provisions of this Section shall have been waived by the Company in the instrument or instruments by which the Company incurred, assumed, guaranteed or otherwise created such indebtedness or obligation, shall not be deemed a default or event of default under clause (bSection 1401(b) of Section 1502 if (i) the Company shall be disputing its obligation to make such payment or perform 60 62 such obligation and (ii) either (A) no final judgment relating to such dispute shall have been issued against the Company which is in full force and effect and is not subject to further review, including a judgment that has become final by reason of the expiration of the time within which a party may seek further appeal or review, or and (B) in the event that of a judgment that is subject to further review or appeal has been issued, the Company shall in good faith be prosecuting an appeal or other proceeding for review and a stay or of execution shall have been obtained pending such appeal or review.

Disputes with Holders of Certain Senior Indebtedness. Any failure by the Company to make any payment on or perform under any other obligation in respect of Senior Indebtedness, other than any indebtedness incurred by the Company or assumed or guaranteed, directly or indirectly, by the Company for money borrowed (or any deferral, renewal, extension or refunding thereof) or any other obligation Senior Indebtedness as to which the provisions of this Section 13.04 shall have been waived by the Company in the instrument or instruments by which the Company incurred, assumed, guaranteed or otherwise created such indebtedness or obligationSenior Indebtedness, shall not be deemed a default under clause (b) of Section 1502 13.01 if (i) the Company shall be disputing its obligation to make such payment or perform such obligation obligation, and (ii) either (A) no final judgment relating to such dispute shall have been issued against the Company which is in full force and effect and is not subject to further review, including a judgment that has become final by reason of the expiration of the time within which a party may seek further appeal or review, or (B) in the event that of a judgment that is subject to further review or appeal has been issued, the Company shall in good faith be prosecuting an appeal or other proceeding for review review, and a stay or of execution shall have been obtained pending such appeal or review.

Disputes with Holders of Certain Senior Indebtedness. Any failure by the Company Issuer to make any payment on or perform any other obligation in respect of under Senior Indebtedness, other than any indebtedness incurred by the Company Issuer or assumed or guaranteed, directly or indirectly, by the Company Issuer for money borrowed (or any deferral, renewal, extension or refunding thereof) or any other indebtedness or obligation as to which the provisions of this Section shall have been waived by the Company Issuer in the instrument or instruments by which the Company Issuer incurred, assumed, guaranteed or otherwise created such indebtedness or obligation, shall not be deemed a default or event of default under clause (b‎Section 13.01(b) of Section 1502 if (ia) the Company Issuer shall be disputing its obligation to make such payment or perform such obligation and (iib) either (Ai) no final judgment relating to such dispute shall have been issued against the Company Issuer which is in full force and effect and is not subject to further review, including a judgment that has become final by reason of the expiration of the time within which a party may seek further appeal or review, or and (Bii) in the event that of a judgment that is subject to further review or appeal has been issued, the Company Issuer shall in good faith be prosecuting an appeal or other proceeding for review and a stay or of execution shall have been obtained pending such appeal or review.

Disputes with Holders of Certain Senior Indebtedness. Any failure by the Company to make any payment on or perform any other obligation in respect of Senior Indebtedness, other than any indebtedness incurred by the Company or assumed or guaranteed, directly or indirectly, by the Company for money borrowed (or any -72- deferral, renewal, extension or refunding thereof) or any other obligation as to which the provisions of this Section shall have been waived by the Company in the instrument or instruments by which the Company incurred, assumed, guaranteed or otherwise created such indebtedness or obligation, shall not be deemed a default under clause (b) of Section 1502 if (i) the Company shall be disputing its obligation to make such payment or perform such obligation and (ii) either (A) no final judgment relating to such dispute shall have been issued against the Company which is in full force and effect and is not subject to further review, including a judgment that has become final by reason of the expiration of the time within which a party may seek further appeal or review, or (B) in the event that a judgment that is subject to further review or appeal has been issued, the Company shall in good faith be prosecuting an appeal or other proceeding for review and a stay or execution shall have been obtained pending such appeal or review.

Disputes with Holders of Certain Senior Indebtedness. Any failure by the Company to make any payment on or perform any other obligation in respect of Senior Indebtedness, other than any indebtedness incurred by the Company or assumed or guaranteed, directly or indirectly, by the Company for money borrowed (or any deferral, renewal, extension or refunding thereof) or any other obligation as to which the provisions of this Section shall have been waived by the Company in the instrument or instruments by which the Company incurred, assumed, guaranteed or otherwise created such indebtedness or obligation, shall not be deemed a default under clause (b) of Section 1502 15.02 if (i) the Company shall be disputing its obligation to make such payment or perform such obligation and (ii) either (A) no final judgment relating to such dispute shall have been issued against the Company which that is in full force and effect and is not subject to further review, including a judgment that has become final by reason of the expiration of the time within which a party may seek further appeal or review, or (B) in the event that a judgment that is subject to further review or appeal has been issued, the Company shall in good faith be prosecuting an appeal or other proceeding for review and a stay or of execution shall have been obtained pending such appeal or review.

Disputes with Holders of Certain Senior Indebtedness. Any failure by the Company Issuer to make any payment on or perform any other obligation in respect of under Senior Indebtedness, other than any indebtedness incurred by the Company Issuer or assumed or guaranteed, directly or indirectly, by the Company Issuer for money borrowed (or any deferral, renewal, extension or refunding thereof) or any other indebtedness or obligation as to which the provisions of this Section shall have been waived by the Company Issuer in the instrument or instruments by which the Company Issuer incurred, assumed, guaranteed or otherwise created such indebtedness or obligation, shall not be deemed a default under clause (bSection 13.01(b) of Section 1502 if (ia) the Company Issuer shall be disputing its obligation to make such payment or perform such obligation and (iib) either (Ai) no final judgment relating to such dispute shall have been issued against the Company Issuer which is in full force and effect and is not subject to further review, including a judgment that has become final by reason of the expiration of the time within which a party may seek further appeal or review, or and (Bii) in the event that of a judgment that is subject to further review or appeal has been issued, the Company Issuer shall in good faith be prosecuting an appeal or other proceeding for review and a stay or of execution shall have been obtained pending such appeal or review.

Disputes with Holders of Certain Senior Indebtedness. Any failure by the Company Corporation to make any payment of or on or perform any other obligation in respect of under any Senior Indebtedness, other than any indebtedness Senior Indebtedness incurred by the Company Corporation or assumed or guaranteed, directly or indirectly, by the Company Corporation for money borrowed (or any deferral, renewal, extension or refunding thereof) or any other indebtedness or obligation as to which the provisions of this Section shall have been waived by the Company Corporation in the instrument or instruments by which the Company Corporation incurred, assumed, guaranteed or otherwise created such indebtedness or obligation, shall not be deemed a default or event of default with respect to such Senior Indebtedness under clause (b) of the second paragraph of Section 1502 1401 if (i) the Company Corporation shall be disputing its obligation to make such payment or perform such obligation and (ii) either (A) no final judgment relating to such dispute shall have been issued against the Company Corporation which is in full force and effect and is not subject to further review, including a judgment that has become final by reason of the expiration of the time within ​ which a party may seek further appeal or review, or (B) in the event that of a judgment that is subject to further review or appeal has been issued, the Company Corporation shall in good faith be prosecuting an appeal or other proceeding for review and a stay or of execution shall have been obtained pending such appeal or review.

Disputes with Holders of Certain Senior Indebtedness. Any failure by the Company Corporation to make any payment on or perform any other obligation in respect of under Senior Indebtedness, other than any indebtedness incurred by the Company Corporation or assumed or guaranteed, directly or indirectly, by the Company Corporation for money borrowed (or any deferral, renewal, extension or refunding thereof) or any other indebtedness or obligation as to in which the provisions of this Section 11.05 shall have been waived by the Company Corporation in the instrument or instruments by which the Company Corporation incurred, assumed, guaranteed or otherwise created such indebtedness or obligation, shall not be deemed a default or event of default under clause (b) of Section 1502 if 11.04 hereof for so long as (i) the Company Corporation shall be disputing its obligation to make such payment or perform such obligation and (ii) either (A) no final judgment relating to such dispute shall not have been issued resulted in a judgment against the Company which is Corporation or the applicable Subsidiary that shall have remained undischarged or unbonded and have remained in full force and effect and is not subject to further review, including a judgment that has become final by reason of for more than the expiration of the time within which a party may seek further applicable appeal or review, period or (B) in the event that of such a judgment that is subject to further review or appeal has been issuedjudgment, the Company Corporation or the applicable Subsidiary shall in good faith be prosecuting an appeal or other proceeding for review and upon which a stay or of execution shall have been obtained pending such appeal or review.

Disputes with Holders of Certain Senior Indebtedness. Any failure by the Company to make any payment on or perform any other obligation in respect of under Senior Indebtedness, other than any indebtedness incurred by the Company or assumed or guaranteed, directly or indirectly, by the Company for money borrowed (or any deferral, renewal, extension or refunding thereof) or any other indebtedness or obligation as to which the provisions of this Section shall have been waived by the Company in the instrument or instruments by which the Company incurred, assumed, guaranteed or otherwise created such indebtedness or obligation, shall not be deemed a default or event of default under clause (bSection 1401(b) of Section 1502 if (i) the Company shall be disputing its obligation to make such payment or perform 60 63 such obligation and (ii) either (A) no final judgment relating to such dispute shall have been issued against the Company which is in full force and effect and is not subject to further review, including a judgment that has become final by reason of the expiration of the time within which a party may seek further appeal or review, or and (B) in the event that of a judgment that is subject to further review or appeal has been issued, the Company shall in good faith be prosecuting an appeal or other proceeding for review and a stay or of execution shall have been obtained pending such appeal or review.

Disputes with Holders of Certain Senior Indebtedness. Any failure by the Company to make any payment on or perform any other obligation in respect of under Senior Indebtedness, other than any indebtedness incurred by the Company or assumed or guaranteed, directly or indirectly, by the Company for money borrowed (or any deferral, renewal, extension or refunding thereof) or any other indebtedness or obligation as to which the provisions of this Section shall have been waived by the Company in the instrument or instruments by which the Company incurred, assumed, guaranteed or otherwise created such indebtedness or obligation, shall not be deemed a default or event of default under clause (bSection 1301(b) of Section 1502 if (ia) the Company shall be disputing its obligation to make such payment or perform such obligation and (iib) either (Ai) no final judgment relating to such dispute shall have been issued against the Company which is in full force and effect and is not subject to further review, including a judgment that has become final by reason of the expiration of the time within which a party may seek further appeal or review, or and (Bii) in the event that of a judgment that is subject to further review or appeal has been issued, the Company shall in good faith be prosecuting an appeal or other proceeding for review and a stay or of execution shall have been obtained pending such appeal or review.

Disputes with Holders of Certain Senior Indebtedness. Any failure by the Company to make any payment on or perform any other obligation in respect of under Senior Indebtedness, other than any indebtedness incurred by the Company or assumed or guaranteed, directly or indirectly, by the Company for money borrowed (or any deferral, renewal, extension or refunding thereof) or any other indebtedness or obligation as to in which the provisions of this Section shall have been waived by the Company in the instrument or instruments by which the Company incurred, assumed, guaranteed or otherwise created such indebtedness or obligation, shall not be deemed a default or event of default under clause Section 13.03 hereof for so long as (b) of Section 1502 if (ia) the Company shall be disputing its obligation to make such payment or perform such obligation and (iib) either (Ai) no final judgment relating to such dispute shall not have been issued resulted in a judgment against the Company which is or the applicable Subsidiary that shall have remained undischarged or unbonded and have remained in full force and effect and is not subject to further review, including a judgment that has become final by reason of for more than the expiration of the time within which a party may seek further applicable appeal or review, period or (Bii) in the event that of such a judgment that is subject to further review or appeal has been issuedjudgment, the Company or the applicable Subsidiary shall in good faith be prosecuting an appeal or 107 other proceeding for review and which a stay or of execution shall have been obtained pending such appeal or review.

Disputes with Holders of Certain Senior Indebtedness. Any failure by the Company Issuers to make any payment on or perform any other obligation in respect of under Senior Indebtedness, other than any indebtedness incurred by the Company an Issuer or assumed or guaranteed, directly or indirectly, by the Company an Issuer for money borrowed (or any deferral, renewal, extension or refunding thereof) or any other indebtedness or obligation as to which the provisions of this Section shall have been waived by the Company an Issuer in the instrument or instruments by which the Company such Issuer incurred, assumed, guaranteed or otherwise created such indebtedness or obligation, shall not be deemed a default or event of default under clause (bSection 7.01(b) of Section 1502 if (ia) the Company shall be Issuer is disputing its obligation to make such payment or perform such obligation and (iib) either (Ai) no final judgment relating to such dispute shall have been issued against the Company which Issuer that is in full force and effect and is not subject to further review, including a judgment that has become final by reason of the expiration of the time within which a party may seek further appeal or review, or (Bii) in the event that a judgment that is subject to further review or appeal has been issued, the Company Issuer shall in good faith be prosecuting an appeal or other proceeding for review and a stay or of execution shall have been obtained pending such appeal or review.

Disputes with Holders of Certain Senior Indebtedness. Any failure by the Company PEC to make any payment on or perform any other obligation in respect of Senior IndebtednessIndebtedness of PEC, other than any indebtedness incurred by the Company PEC or assumed or guaranteed, directly or indirectly, by the Company PEC for money borrowed (or any deferral, renewal, extension or refunding thereof) or any other obligation as to which the provisions of this Section shall have been waived by the Company PEC in the instrument or instruments by which the Company PEC incurred, assumed, guaranteed or otherwise created such indebtedness or obligation, shall not be deemed a default under clause (b) of Section 1502 if (i) the Company PEC shall be disputing its obligation to make such payment or perform such obligation and (ii) either (A) no final judgment relating to such dispute shall have been issued against the Company PEC which is in full force and effect and is not subject to further review, including a judgment that has become final by reason of the expiration of the time within which a party may seek further appeal or review, or (B) in the event that a judgment that is subject to further review or appeal has been issued, the Company PEC shall in good faith be prosecuting an -70- appeal or other proceeding for review and a stay or of execution shall have been obtained pending such appeal or review.

Disputes with Holders of Certain Senior Indebtedness. Any ---------------------------------------------------- failure by the Company Issuer to make any payment on or perform any other obligation in respect of under Senior Indebtedness, other than any indebtedness incurred by the Company Issuer or assumed or guaranteed, directly or indirectly, by the Company Issuer for money borrowed (or any deferral, renewal, extension or refunding thereof) or any other indebtedness or obligation as to which the provisions of this Section shall have been waived by the Company Issuer in the instrument or instruments by which the Company Issuer incurred, assumed, guaranteed or otherwise created such indebtedness or obligation, shall not be deemed a default or event of default under clause (bSection 10.1(b) of Section 1502 if (i) the Company Issuer shall be disputing its obligation to make such payment or perform such obligation and (ii) either (A) no final judgment relating to such dispute shall have been issued against the Company Issuer which is in full force and effect and is not subject to further review, including a judgment that has become final by reason of the expiration of the time within which a party may seek further appeal or review, or and (B) in the event that of a judgment that is subject to further review or appeal has been issued, the Company Issuer shall in good faith be prosecuting an appeal or other proceeding for review and a stay or of execution shall have been obtained pending such appeal or review.

Disputes with Holders of Certain Senior Indebtedness. Any failure by the Company to make any payment on or perform any other obligation in respect of Senior Indebtedness, other than any indebtedness incurred by the Company or assumed or guaranteed, directly or indirectly, by the Company for money borrowed (or any deferral, renewal, extension or refunding thereof) or any other obligation as to which the provisions of this Section shall have been waived by the Company in the instrument or instruments by which the Company incurred, assumed, guaranteed or otherwise created such indebtedness or obligation, shall not be deemed a default under clause (b) of Section 1502 1202 if (i) the Company shall be disputing its obligation to make such payment or perform such obligation and (ii) either (A) no final judgment relating to such dispute shall have been issued against the Company which is in full force and effect and is not subject to further review, including a judgment that has become final by reason of the expiration of the time within which a party may seek further appeal or review, or (B) in the event that a judgment that is subject to further review or appeal has been issued, the Company shall in good faith be prosecuting an appeal or other proceeding for review and a stay or execution shall have been obtained pending such appeal or review.