Common use of Event of Default; Waiver Clause in Contracts

Event of Default; Waiver. The Holders of a Majority of TARGETS may, by vote, on behalf of the Holders of all of the TARGETS, waive any past Event of Default and its consequences. Upon such waiver, any such Event of Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this TARGETS Guarantee, but no such waiver shall extend to any subsequent or other default or Event of Default or impair any right consequent thereon.