Common use of Events of Default; Acceleration of Maturity; Rescission and Annulment Clause in Contracts

Events of Default; Acceleration of Maturity; Rescission and Annulment. (a) An Event of Default with respect to the Debt Securities of any Series shall consist of the events specified in the form of Debt Securities for such Series as Events of Default. (b) If an Event of Default under any Series of Debt Securities shall have occurred and be continuing then in each and every such case, the Trustee or the Holders (the “Demanding Holders”) (acting individually or together) of not less than 25% of the aggregate Outstanding principal amount of the Debt Securities of such Series, upon notice in writing to the Republic, with a copy to the Trustee, of any such Event of Default and its continuance, may declare the principal (and premium, if any) amount of all the Debt Securities of such Series due and payable immediately, and the same shall become and shall be due and payable upon the date that such written notice is received by or on behalf of the Republic, unless prior to such date all Events of Default in respect of all the Debt Securities of such Series shall have been cured; provided that if, at any time after the principal (and premium, if any) of the Debt Securities of such Series shall have been so declared due and payable, and before the sale of any property pursuant to any judgment, decree or the execution of an arbitral award for the payment of monies due which shall have been obtained or entered in connection with the Debt Securities of such Series, pursuant to Section 9.8 hereby and paragraph 16 of the Terms, the Republic shall pay or shall deposit (or cause to be paid or deposited) with the Trustee a sum sufficient to pay all matured installments of interest and principal (and premium, if any) upon all the Debt Securities of such Series that shall have become due otherwise than solely by acceleration (with interest on overdue installments of interest, to the extent permitted by law, and on such principal (and premium, if any) of each Debt Security of such Series at the rate of interest specified herein, to the date of such payment of interest or principal (and premium, if any)) and such amount as shall be sufficient to cover reasonable compensation to the Demanding Holders, the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and all other documented expenses and liabilities reasonably incurred, and all advances made for documented expenses and legal fees, reasonably incurred by the Demanding Holders, the Trustee and each predecessor Trustee, and if any and all Events of Default under the Debt Securities of such Series, other than the nonpayment of the principal of the Debt Securities of such Series which shall have become due solely by acceleration, shall have been cured, waived or otherwise remedied as provided herein, then, and in every such case, the Holders of more than 50% in aggregate principal amount of the Debt Securities of such Series then Outstanding, by written notice to the Republic and to the Trustee, may, on behalf of all of the Holders of Debt Securities of such Series, waive all defaults and rescind and annul such declaration and its consequences, but no such waiver or rescission and annulment shall extend to or shall affect any subsequent default, or shall impair any right consequent thereon.

Events of Default; Acceleration of Maturity; Rescission and Annulment. (a) An Event of Default with respect to the Debt Securities of any Series shall consist of the events specified in the form of Debt Securities for such Series as Events of Default. (b) If an Event of Default under any Series of Debt Securities shall have occurred and be continuing then in each and every such case, the Trustee or the Holders (the “Demanding Holders”) (acting individually or together) of not less than 25% of the aggregate Outstanding principal amount of the Debt Securities of such Series, upon notice in writing to the Republic, with a copy to the Trustee, of any such Event of Default and its continuance, may declare the principal (and premium, if any) amount of all the Debt Securities of such Series due and payable immediately, and the same shall become and shall be due and payable upon the date that such written notice is received by or on behalf of the Republic, unless prior to such date all Events of Default in respect of all the Debt Securities of such Series shall have been cured; provided that if, at any time after the principal (and premium, if any) of the Debt Securities of such Series shall have been so declared due and payable, and before the sale of any property pursuant to any judgment, judgment or decree or the execution of an arbitral award for the payment of monies due which shall have been obtained or entered in connection with the Debt Securities of such Series, pursuant to Section 9.8 hereby and paragraph 16 of the Terms, the Republic shall pay or shall deposit (or cause to be paid or deposited) with the Trustee a sum sufficient to pay all matured installments of interest and principal (and premium, if any) upon all the Debt Securities of such Series that which shall have become due otherwise than solely by acceleration (with interest on overdue installments of interest, to the extent permitted by law, and on such principal (and premium, if any) of each Debt Security of such Series at the rate of interest specified herein, to the date of such payment of interest or principal (and premium, if any)) and such amount as shall be sufficient to cover reasonable compensation to the Demanding Holders, the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and all other documented expenses and liabilities reasonably incurred, and all advances made for documented expenses and legal fees, reasonably incurred by the Demanding Holders, the Trustee and each predecessor Trustee, and if any and all Events of Default under the Debt Securities of such Series, other than the nonpayment of the principal of the Debt Securities of such Series which shall have become due solely by acceleration, shall have been cured, waived or otherwise remedied as provided herein, then, and in every such case, the Holders of more than 50% in aggregate principal amount of the Debt Securities of such Series then Outstanding, by written notice to the Republic and to the Trustee, may, on behalf of all of the Holders of Debt Securities of such Series, waive all defaults and rescind and annul such declaration and its consequences, but no such waiver or rescission and annulment shall extend to or shall affect any subsequent default, or shall impair any right consequent thereon.

Events of Default; Acceleration of Maturity; Rescission and Annulment. (a) An Event of Default with respect to the Debt Securities of any Series shall consist of the events specified in the form of Debt Securities for such Series as Events of Default. (b) If an Event of Default under any Series of Debt Securities shall have occurred and be continuing then in each and every such case, the Trustee or upon notice in writing by the Holders (the “Demanding Holders”) (acting individually or together) of not less than 25% of the aggregate Outstanding principal amount of the Debt Securities of such Series, upon notice in writing Series to the RepublicProvince, with a copy to the Trustee, of any such Event of Default and its continuance, the Demanding Holders may declare the principal (and premium, if any) amount of all the Debt Securities of such Series due and payable immediately, and the same shall become and shall be due and payable upon the date that such written notice is received by or on behalf of the RepublicProvince, unless prior to such date all Events of Default in respect of all the Debt Securities of such Series shall have been cured; provided that if, at any time after the principal (and premium, if any) of the Debt Securities of such Series shall have been so declared due and payable, and before the sale of any property pursuant to any judgment, judgment or decree or the execution of an arbitral award for the payment of monies due which shall have been obtained or entered in connection with the Debt Securities of such Series, pursuant to Section 9.8 hereby and paragraph 16 of the Terms, the Republic Province shall pay or shall deposit (or cause to be paid or deposited) with the Trustee a sum sufficient to pay all matured installments of interest and principal (and premium, if any) upon all the Debt Securities of such Series that which shall have become due otherwise than solely by acceleration (with interest on overdue installments of interest, to the extent permitted by law, and on such principal (and premium, if any) of each Debt Security of such Series at the rate of interest specified herein, to the date of such payment of interest or principal (and premium, if any)principal) and such amount as shall be sufficient to cover the reasonable compensation to fees and expenses of the Demanding HoldersTrustee, including, without limitation, the Trustee fees and each predecessor Trustee, their respective agents, attorneys and expenses of its counsel, and all other documented expenses and liabilities reasonably incurred, and all advances made for documented expenses and legal fees, reasonably incurred by the Demanding Holders, the Trustee and each predecessor Trustee, and if any and all Events of Default under the Debt Securities of such Series, other than the nonpayment of the principal of the Debt Securities of such Series which shall have become due solely by acceleration, shall have been cured, waived or otherwise remedied as provided herein, then, and in every such case, the Holders of more than at least 50% in aggregate principal amount of the Debt Securities of such Series then Outstanding, by written notice to the Republic Province and to the Trustee, may, on behalf of all of the Holders of Debt Securities of such Series, waive all defaults and rescind and annul such declaration and its consequences, but no such waiver or rescission and annulment shall extend to or shall affect any subsequent default, or shall impair any right consequent thereon.

Events of Default; Acceleration of Maturity; Rescission and Annulment. (a) An Event of Default with respect to the Debt Securities of any Series shall consist of the events specified in the form Terms of Debt Securities for such Series as “Events of Default”. (b) If an Event of Default under any Series of Debt Securities shall have occurred and be continuing then in each and every such case, the Trustee or upon notice in writing by the Holders (the “Demanding Holders”) (acting individually or together) of not less than 25% of the aggregate Outstanding principal amount of the Debt Securities of such Series, upon notice in writing Series to the Republic, with a copy to the Trustee, of any such Event of Default and its continuance, the Demanding Holders may declare the principal (and premium, if any) amount of all the Debt Securities of such Series due and payable immediately, and the same shall become and shall be due and payable upon the date that such written notice is received by or on behalf of the Republic, unless prior to such date all Events of Default in respect of all the Debt Securities of such Series shall have been cured; provided that if, at any time after the principal (and premium, if any) of the Debt Securities of such Series shall have been so declared due and payable, and before the sale of any property pursuant to any judgment, judgment or decree or the execution of an arbitral award for the payment of monies due which shall have been obtained or entered in connection with the Debt Securities of such Series, pursuant to Section 9.8 hereby and paragraph 16 of the Terms, the Republic shall pay or shall deposit (or cause to be paid or deposited) with the Trustee a sum sufficient to pay all matured installments of interest and principal (and premium, if any) upon all the Debt Securities of such Series that which shall have become due otherwise than solely by acceleration (with interest on overdue installments of interest, to the extent permitted by law, and on such principal (and premium, if any) of each Debt Security of such Series at the rate of interest specified herein, to the date of such payment of interest or principal (and premium, if any)principal) and such amount as shall be sufficient to cover the reasonable compensation to the Demanding Holders, the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and all other documented expenses and liabilities reasonably incurred, and all advances made for documented expenses and legal fees, reasonably incurred by the Demanding Holders, Holders and the Trustee and each predecessor Trustee, and if any and all Events of Default under the Debt Securities of such Series, other than the nonpayment of the principal of the Debt Securities of such Series which shall have become due solely by acceleration, shall have been cured, waived or otherwise remedied as provided herein, then, and in every such case, the Holders of more than 50% in aggregate principal amount of the Debt Securities of such Series then Outstanding, by written notice to the Republic and to the Trustee, may, on behalf of all of the Holders of Debt Securities of such Series, waive all defaults and rescind and annul such declaration and its consequences, but no such waiver or rescission and annulment shall extend to or shall affect any subsequent default, or shall impair any right consequent thereon.

Events of Default; Acceleration of Maturity; Rescission and Annulment. (a) An Event of Default with respect to the Debt Securities of any Series shall consist of the events specified in the form of Debt Securities for such Series as Events of Default. (b) If an Event of Default under any Series of Debt Securities shall have occurred and be continuing then in each and every such case, the Trustee or upon notice in writing by the Holders (the “Demanding Holders”) (acting individually or together) of not less than 25% of the aggregate Outstanding principal amount of the Debt Securities of such Series, upon notice in writing Series to the RepublicJamaica, with a copy to the Trustee, of any such Event of Default and its continuance, the Demanding Holders may declare the principal (and premium, if any) amount of all the Debt Securities of such Series due and payable immediately, and the same shall become and shall be due and payable upon the date that such written notice is received by or on behalf of the RepublicJamaica, unless prior to such date all Events of Default in respect of all the Debt Securities of such Series shall have been cured; provided that if, at any time after the principal (and premium, if any) of the Debt Securities of such Series shall have been so declared due and payable, and before the sale of any property pursuant to any judgment, judgment or decree or the execution of an arbitral award for the payment of monies due which shall have been obtained or entered in connection with the Debt Securities of such Series, pursuant to Section 9.8 hereby and paragraph 16 of the Terms, the Republic Jamaica shall pay or shall deposit (or cause to be paid or deposited) with the Trustee a sum sufficient to pay all matured installments of interest and principal (and premium, if any) upon all the Debt Securities of such Series that which shall have become due otherwise than solely by acceleration (with interest on overdue installments of interest, to the extent permitted by law, and on such principal (and premium, if any) of each Debt Security of such Series at the rate of interest specified herein, to the date of such payment of interest or principal (and premium, if any)principal) and such amount as shall be sufficient to cover reasonable compensation to the Demanding Holders, the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and all other documented expenses and liabilities reasonably incurred, and all advances made for documented expenses and legal fees, reasonably incurred by the Demanding Holders, the Trustee and each predecessor Trustee, and if any and all Events of Default under the Debt Securities of such Series, other than the nonpayment of the principal of the Debt Securities of such Series which shall have become due solely by acceleration, shall have been cured, waived or otherwise remedied as provided herein, then, and in every such case, the Holders of more than 50% in aggregate principal amount of the Debt Securities of such Series then Outstanding, by written notice to the Republic Jamaica and to the Trustee, may, on behalf of all of the Holders of Debt Securities of such Series, waive all defaults and rescind and annul such declaration and its consequences, but no such waiver or rescission and annulment shall extend to or shall affect any subsequent default, or shall impair any right consequent thereon.

Events of Default; Acceleration of Maturity; Rescission and Annulment. (a) An Event of Default with respect to the Debt Securities of any Series shall consist of the events specified in the form of Debt Securities for such Series as Events of Default. (b) If an Event of Default under any Series of Debt Securities shall have occurred and be continuing then in each and every such case, the Trustee or upon notice in writing by the Holders (the “Demanding Holders”) (acting individually or together) of not less than 25% of the aggregate Outstanding principal amount of the Debt Securities of such Series, upon notice in writing Series to the Republic, with a copy to the Trustee, of any such Event of Default and its continuance, the Demanding Holders may declare the principal (and premium, if any) amount of all the Debt Securities of such Series due and payable immediately, and the same shall become and shall be due and payable upon the date that such written notice is received by or on behalf of the Republic, unless prior to such date all Events of Default in respect of all the Debt Securities of such Series shall have been cured; provided that if, at any time after the principal (and premium, if any) of the Debt Securities of such Series shall have been so declared due and payable, and before the sale of any property pursuant to any judgment, judgment or decree or the execution of an arbitral award for the payment of monies due which shall have been obtained or entered in connection with the Debt Securities of such Series, pursuant to Section 9.8 hereby and paragraph 16 of the Terms, the Republic shall pay or shall deposit (or cause to be paid or deposited) with the Trustee a sum sufficient to pay all matured installments of interest and principal (and premium, if any) upon all the Debt Securities of such Series that which shall have become due otherwise than solely by acceleration (with interest on overdue installments of interest, to the extent permitted by law, and on such principal (and premium, if any) of each Debt Security of such Series at the rate of interest specified herein, to the date of such payment of interest or principal (and premium, if any)principal) and such amount as shall be sufficient to cover reasonable compensation to the Demanding Holders, the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and all other documented expenses and liabilities reasonably incurred, and all advances made for documented expenses and legal fees, reasonably incurred by the Demanding Holders, the Trustee and each predecessor Trustee, and if any and all Events of Default under the Debt Securities of such Series, other than the nonpayment of the principal of the Debt Securities of such Series which shall have become due solely by acceleration, shall have been cured, waived or otherwise remedied as provided herein, then, and in every such case, the Holders of more than 50% (acting individually or together) in aggregate principal amount of the Debt Securities of such Series then Outstanding, by written notice to the Republic and to the Trustee, may, on behalf of all of the Holders of Debt Securities of such Series, waive all defaults and rescind and annul such declaration and its consequences, but no such waiver or rescission and annulment shall extend to or shall affect any subsequent default, or shall impair any right consequent thereon.