Common use of Enumerated Defaults Clause in Contracts

Enumerated Defaults. 3.1 Each of the following is an “Enumerated Default”: (a) an Event of Default under Clause 30.4.1 of the Facility Agreement, but only insofar as it arises as a result of: (i) Parent’s failure to deliver the financial information required under Clause 27.1.1 of the Facility Agreement; (ii) Parent’s failure to deliver a Compliance Certificate as required under Clause 27.2 of the Facility Agreement in relation to the immediately preceding sub-clause (i) above; (iii) Parent’s failure to the notify the Agent of any Default or Event of Default as required under Clause 27.10 of the Facility Agreement, but only insofar as such Default or Event of Default constitutes an Enumerated Default and excluding, for the avoidance of doubt, any Early Termination Event that also constitutes a Default or Event of Default; or (iv) a breach of any financial covenant set forth in Clause 28 of the Facility Agreement; (b) an Event of Default under Clause 30.5 of the Facility Agreement, but only insofar as it arises as a result of a failure to comply with Clause 29.2 of the Facility Agreement due to Parent’s failure to file any required filing with the SEC in the prescribed time frame; (c) an Event of Default under Clause 30.14 of the Facility Agreement arising as a result of a “going concern” or like qualification or exception; (d) an Event of Default under Clause 30.7 of the Facility Agreement, but only insofar as it arises as a result of: (i) A Default or Event of Default under the indenture governing the 2022 Notes arising as a result of either: (1) Parent’s failure to pay scheduled interest or coupon amounts as required by the indenture governing the 2022 Notes (the “Notes Non-Payment”); or (2) the Case; or (ii) a Default or Event of Default under the NOK Facility arising as a result of either: (1) the Notes Non-Payment; (2) the Case; or (3) any of the Enumerated Defaults; (e) an Event of Default under Clause 30.8 of the Facility Agreement, but only insofar as it arises as a result of: (i) Parent or any of its Subsidiaries (other than the Borrower and the Pledgor) entering into negotiations with one or more of its creditors with a view to rescheduling any of its indebtedness; (ii) the Case; or (iii) the Notes Non-Payment; (f) an Event of Default under Clause 30.9.1 of the Facility Agreement, but only insofar as it applies directly to the Parent and as a result of the Case or the Notes Non-Payment; (g) an Event of Default under Clause 30.6 of the Facility Agreement but only insofar as it arises as a result of the representation at Clause 26.11 being repeated in relation to an Enumerated Default during the Forbearance Period; and (h) an Event of Default under Clause 30.19 of the Facility Agreement. 3.2 The Forbearance Period in respect of the Enumerated Defaults is limited in nature and nothing in this Second Long-Term Forbearance Letter is intended, or will be deemed to: (a) constitute a waiver of any Defaults or Events of Default other than the Enumerated Defaults during the Forbearance Period or compliance with any term or provision of the Finance Documents or applicable law, except to the extent expressly provided for herein; or (b) establish a custom or course of dealing between you, on the one hand, and the Agent or any Lender, on the other hand.

Enumerated Defaults. 3.1 Each of the following is an “Enumerated Default”: (a) an Event of Default under Clause 30.4.1 of the Facility Agreement, but only insofar as it arises as a result of: (i) Parent’s failure to deliver the financial information required under Clause 27.1.1 of the Facility Agreement; (ii) Parent’s failure to deliver a Compliance Certificate as required under Clause 27.2 of the Facility Agreement in relation to the immediately preceding sub-clause (i) above; (iii) Parent’s failure to the notify the Agent of any Default or Event of Default as required under Clause 27.10 of the Facility Agreement, but only insofar as such Default or Event of Default constitutes an Enumerated Default and excluding, for the avoidance of doubt, any Early Termination Event that also constitutes a Default or Event of Default; or (iv) a breach of any financial covenant set forth in Clause 28 of the Facility Agreement; (b) an Event of Default under Clause 30.5 of the Facility Agreement, but only insofar as it arises as a result of a failure to comply with Clause 29.2 of the Facility Agreement due to Parent’s failure to file any required filing with the SEC in the prescribed time frame; (c) an Event of Default under Clause 30.14 of the Facility Agreement arising as a result of a “going concern” or like qualification or exception; (d) an Event of Default under Clause 30.7 of the Facility Agreement, but only insofar as it arises as a result of: (i) A Default or Event of Default under the indenture governing the 2022 Notes arising as a result of either: (1) Parent’s failure to pay scheduled interest or coupon amounts as required by the indenture governing the 2022 Notes (the “Notes Non-Payment”); or (2) the Case; or (ii) a Default or Event of Default under the NOK Facility arising as a result of either: (1) the Notes Non-Payment; (2) the Case; or (3) any of the Enumerated Defaults; (e) an Event of Default under Clause 30.8 of the Facility Agreement, but only insofar as it arises as a result of: (i) Parent or any of its Subsidiaries (other than the Borrower and the Pledgor) entering into negotiations with one or more of its creditors with a view to rescheduling any of its indebtedness; (ii) the Case; or (iii) the Notes Non-Payment; (f) an Event of Default under Clause 30.9.1 of the Facility Agreement, but only insofar as it applies directly to the Parent and as a result of the Case or the Notes Non-Payment; (g) an Event of Default under Clause 30.6 of the Facility Agreement but only insofar as it arises as a result of the representation at Clause 26.11 being repeated in relation to an Enumerated Default during the Forbearance Period; and (h) an Event of Default under Clause 30.19 of the Facility Agreement. 3.2 The Forbearance Period in respect of the Enumerated Defaults is limited in nature and nothing in this Second Long-Term Forbearance Letter is intended, or will be deemed to: (a) constitute a waiver of any Defaults or Events of Default other than the Enumerated Defaults during the Forbearance Period or compliance with any term or provision of the Finance Documents or applicable law, except to the extent expressly provided for herein; or (b) establish a custom or course of dealing between you, on the one hand, and the Agent or any Lender, on the other hand.

Enumerated Defaults. 3.1 Each of the following is an “Enumerated Default”: (a) an Event of Default under Clause 30.4.1 of the Facility Agreement, but only insofar as it arises as a result of: (i) Parent’s failure to deliver the financial information required under Clause 27.1.1 of the Facility Agreement; (ii) Parent’s failure to deliver a Compliance Certificate as required under Clause 27.2 of the Facility Agreement in relation to the immediately preceding sub-clause (i) above; (iii) Parent’s failure to the notify the Agent of any Default or Event of Default as required under Clause 27.10 of the Facility Agreement, but only insofar as such Default or Event of Default constitutes an Enumerated Default and excluding, for the avoidance of doubt, any Early Termination Event that also constitutes a Default or Event of Default; or (iv) a breach of any financial covenant set forth in Clause 28 of the Facility Agreement; (b) an Event of Default under Clause 30.5 of the Facility Agreement, but only insofar as it arises as a result of a failure to comply with Clause 29.2 of the Facility Agreement due to Parent’s failure to file any required filing with the SEC in the prescribed time frame; (c) an Event of Default under Clause 30.14 of the Facility Agreement arising as a result of a “going concern” or like qualification or exception; (d) an Event of Default under Clause 30.7 of the Facility Agreement, but only insofar as it arises as a result of: (i) A Default or Event of Default under the indenture governing the 2022 Notes arising as a result of either: (1) Parent’s failure to pay scheduled interest or coupon amounts as required by the indenture governing the 2022 Notes (the “Notes Non-Payment”); or (2) the Case; or (ii) a Default or Event of Default under the NOK Facility arising as a result of either: (1) the Notes Non-Payment; (2) the Case; or (3) any of the Enumerated Defaults; (e) an Event of Default under Clause 30.8 of the Facility Agreement, but only insofar as it arises as a result of: (i) Parent or any of its Subsidiaries (other than the Borrower and the Pledgorany Americas Entity) entering into negotiations with one or more of its creditors with a view to rescheduling any of its indebtedness; (ii) the Case; or (iii) the Notes Non-Payment; (f) an Event of Default under Clause 30.9.1 of the Facility Agreement, but only insofar as it applies directly to the Parent and as a result of the Case or the Notes Non-Payment; (g) an Event of Default under Clause 30.6 of the Facility Agreement but only insofar as it arises as a result of the representation at Clause 26.11 being repeated in relation to an Enumerated Default during the Forbearance Period; and (h) an Event of Default under Clause 30.19 of the Facility Agreement. 3.2 The Forbearance Period in respect of the Enumerated Defaults is limited in nature and nothing in this Second Long-Term Forbearance Letter is intended, or will be deemed to: (a) constitute a waiver of any Defaults or Events of Default other than the Enumerated Defaults during the Forbearance Period or compliance with any term or provision of the Finance Documents or applicable law, except to the extent expressly provided for herein; or (b) establish a custom or course of dealing between you, on the one hand, and the Agent or any Lender, on the other hand. 3.3 Notwithstanding anything to the contrary in this Forbearance Letter, but subject to (a) clause 3.4 below and (b) any action otherwise permitted by paragraph 22 of the Interim Order, the forbearances (during the Forbearance Period) in respect of any Enumerated Default shall not constitute a waiver, amendment, termination or forbearance or concession with respect to any Default or Event of Default for the purposes of Clause 27 (Information Undertakings) or Clause 29 (General Undertakings) of the Facility Agreement, in each case to the extent that (x) any permissions referred to in such clauses are conditioned on or subject to there being no Default or Event of Default or (y) any actions referred to in Clause 29 could be taken in the absence of a Default or Event of Default; and for the avoidance of doubt no such transactions or actions in either case shall be undertaken during the Forbearance Period. 3.4 In addition to the restriction on the actions and transactions imposed by Clause 3.4, during the Forbearance Period, no Obligor shall take any of the actions prohibited by paragraph 22 of the Interim Order.

Enumerated Defaults. 3.1 Each of the following is an “Enumerated Default”: (a) an Event of Default under Clause 30.4.1 23.1.2 (Financial covenants) or Clause 23.1.3 (Other obligations) of the Facility Agreement, but only insofar as it arises as a result of: (i) Parent’s the Borrower's failure to deliver the financial statements and information required under Clause 27.1.1 19.1.1 (Financial statements) of the Facility Agreement; (ii) Parentthe Borrower’s failure to deliver a Compliance Certificate as required under Clause 27.2 19.1.2 (Compliance Certificate) of the Facility Agreement in relation to the immediately preceding sub-clause (i) above; (iii) Parentthe Borrower’s failure to the notify the Agent of any Default or Event of Default as required under Clause 27.10 19.1.5 (Notification of default) of the Facility Agreement, but only insofar as such Default (or Event of Default Default) constitutes an Enumerated Default and excluding, for the avoidance of doubt, any Early Termination Event that also constitutes a Default or Event of Default; or (iv) a breach of any financial covenant set forth in Clause 28 20 (Financial covenants) of the Facility Agreement; (b) an Event of Default under Clause 30.5 23.1.3 (Other obligations) of the Facility Agreement, but only insofar as it arises as a result of a failure to comply with Clause 29.2 21.1.2 (Compliance with laws) of the Facility Agreement due to Parentthe Parent Guarantor’s failure to file any required filing with the SEC Securities Exchange Commission in the prescribed time frame; (c) an Event of Default under Clause 30.14 23.1.3 (Other obligations) of the Facility Agreement arising Agreement, but only insofar as it arises as a result of a “going concern” or like qualification or exceptionfailure to comply with Clause 21.1.11 (Listing) of the Agreement; (d) an Event of Default under Clause 30.7 23.1.5 (Cross default) of the Facility Agreement, but only insofar as it arises as a result of: (i) A Default or Event of Default under the indenture governing the 2022 Notes arising as a result of either: (1) ParentParent Guarantor’s failure to pay scheduled interest or coupon amounts as required by the indenture governing the 2022 Notes (the “Notes Non-Payment”); or (2) the Case; or (ii) a Default default or Event event of Default default under the NOK Facility arising as a result of either: (1) the Notes Non-Payment; (2) the Case; or (3) any of the Enumerated DefaultsRBS Facility; (e) an Event of Default under Clause 30.8 23.1.6 (Insolvency), paragraph a) or Clause 23.1.15 (UK Guarantor), paragraph c) of the Facility Agreement, but only insofar as it arises as a result of: (i) the Parent Guarantor, the UK Guarantor or any of its Subsidiaries (other than the Borrower and the Pledgor) entering into negotiations with one or more of its creditors with a view to rescheduling any of its indebtedness; (ii) the Case; or (iiiii) the Notes Non-Payment; (f) an Event of Default that constitutes a “suspension of payments” under Clause 30.9.1 23.1.7 (Insolvency proceedings), paragraph a) or Clause 23.1.15 (UK Guarantor), paragraph c) of the Facility Agreement, but only insofar as it applies directly to the Parent and as a result of the Case or Agreement arising from the Notes Non-Payment; (g) an Event of Default under Clause 30.6 23.1.4 (Misrepresentation) of the Facility Agreement but only insofar as it arises as a result of the representation at in Clause 26.11 18.1.7 (No Default) being repeated in relation to an Enumerated Default during the Forbearance Support Period; and (h) an Event of Default under Clause 30.19 23.1.13 (Material Adverse Effect) of the Facility Agreement. 3.2 The Forbearance Support Period in respect of the Enumerated Defaults is limited in nature and nothing in this Second Long-Term Forbearance Support Letter is intended, or will be deemed deemed, to: (a) constitute a waiver of (i) any Defaults or Events of Default other than the Enumerated Defaults during the Forbearance Support Period or (ii) compliance with any term or provision of the Finance Documents or applicable law, except to the extent expressly provided for herein; or (b) establish a custom or course of dealing between you, on the one hand, and the Agent or any Lender, on the other hand.

Enumerated Defaults. 3.1 Each of the following is an “Enumerated Default”: (a) an Event of Default under Clause 30.4.1 of the Facility Agreement, but only insofar as it arises as a result of: (i) Parent’s failure to deliver the financial information required under Clause 27.1.1 of the Facility Agreement; (ii) Parent’s failure to deliver a Compliance Certificate as required under Clause 27.2 of the Facility Agreement in relation to the immediately preceding sub-clause (i) above; (iii) Parent’s failure to the notify the Agent of any Default or Event of Default as required under Clause 27.10 of the Facility Agreement, but only insofar as such Default or Event of Default constitutes an Enumerated Default and excluding, for the avoidance of doubt, any Early Termination Event that also constitutes a Default or Event of Default; or (iv) a breach of any financial covenant set forth in Clause 28 of the Facility Agreement; (b) an Event of Default under Clause 30.5 of the Facility Agreement, but only insofar as it arises as a result of a failure to comply with Clause 29.2 of the Facility Agreement due to Parent’s failure to file its Form 10-K or any other required filing with the SEC in the prescribed time frame; (c) an Event of Default under Clause 30.14 of the Facility Agreement arising as a result of a “going concern” or like qualification or exception; (d) an Event of Default under Clause 30.7 of the Facility Agreement, but only insofar as it arises as a result of: (i) A Default or Event of Default under the indenture governing the 2022 Notes arising as a result of either: (1) Parent’s failure to pay scheduled interest or coupon amounts as required by the indenture governing the 2022 2020 Notes (the “Notes Non-Payment”); or (2) the Case; or (ii) a Default or Event of Default under the NOK Facility arising as a result of either: (1) the Notes Non-Payment; (2) the Case; or (32) any of the Enumerated Defaults; (e) an Event of Default under Clause 30.8 30.8.1 of the Facility Agreement, but only insofar as it arises as a result of: (i) Parent or any of its Subsidiaries (other than the Borrower and the Pledgor) entering into negotiations with one or more of its creditors with a view to rescheduling any of its indebtedness; (ii) the Case; or (iiiii) the Notes Non-Payment; (f) an Event of Default that constitutes a “suspension of payments” under Clause 30.9.1 30.9.1(a) of the Facility Agreement, but only insofar as it applies directly to the Parent and as a result of the Case or Agreement arising from the Notes Non-Payment; (g) an Event of Default under Clause 30.6 of the Facility Agreement but only insofar as it arises as a result of the representation at Clause 26.11 being repeated in relation to an Enumerated Default during the Forbearance Support Period; and (h) an Event of Default under Clause 30.19 of the Facility Agreement. 3.2 The Forbearance Support Period in respect of the Enumerated Defaults is limited in nature and nothing in this Second Long-Term Forbearance Support Letter is intended, or will be deemed to: (a) constitute a waiver of any Defaults or Events of Default other than the Enumerated Defaults during the Forbearance Support Period or compliance with any term or provision of the Finance Documents or applicable law, except to the extent expressly provided for herein; or (b) establish a custom or course of dealing between you, on the one hand, and the Agent or any Lender, on the other hand. 3.3 The Majority Lenders confirm that during the Support Period the limitations on intra-group payments that apply upon the occurrence of an Event of Default as set out in Clause 29.14 of the Facility Agreement shall not apply.