Guarantee Event of Default; Waiver. The Holders of a Majority in Liquidation Amount of the Trust Preferred Securities may, by vote or written consent, on behalf of the Holders of all of the Trust Preferred Securities, waive any past Guarantee Event of Default and its consequences. Upon such waiver, any such Guarantee Event of Default shall cease to exist, and any Guarantee Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Guarantee, but no such waiver shall extend to any subsequent or other default or Guarantee Event of Default or impair any right consequent thereon.
Appears in 5 contracts
Samples: Guarantee Agreement (Virginia Electric & Power Co), Trust Preferred Securities Guarantee Agreement (CSX Capital Trust 1), Trust Preferred Securities Guarantee Agreement (Markel Corp)
Guarantee Event of Default; Waiver. The Holders of a Majority in Liquidation Amount of the Trust Preferred Securities may, by vote or written consent, on behalf of the Holders of all of the Trust Preferred Securities, waive any past Guarantee Event of Default and its consequences. Upon such waiver, any such Guarantee Event of Default shall cease to exist, and any Guarantee Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Guarantee, but no such waiver shall extend to any subsequent or other default or Guarantee Event of Default or impair any right consequent thereon.
Appears in 4 contracts
Samples: Guarantee Agreement (Capital One Financial Corp), Guarantee Agreement (City National Corp), Guarantee Agreement (City National Capital Trust I)
