Common use of Limitation on Payment Clause in Contracts

Limitation on Payment. (i) Upon receipt by Xxxxxx and Lender of a Blockage Notice (as defined below), then, unless and until (A) all Senior Defaults that gave rise to the Blockage Notice shall have been remedied or effectively waived or shall have ceased to exist or (B) the Senior Indebtedness in respect of which such Senior Defaults shall have occurred shall have been paid in full in cash or in a manner satisfactory to the payees of such Senior Indebtedness, no direct or indirect payment (in cash, property, securities or by set-off or otherwise) of or on account of the principal evidenced by the Secured Notes, including this Note, or accrued and unpaid interest or as a sinking fund for the Secured Notes, including this Note, or in respect of any redemption, retirement, purchase or other acquisition of the Secured Notes, including this Note, shall be made. Notwithstanding the foregoing, in the case of a Blockage Notice that relates to a Senior Covenant Default, the foregoing restrictions shall commence upon Xxxxxx'x receipt of such Blockage Notice and shall expire 270 days thereafter. Any principal and interest paid with respect to the Secured Notes, including this Note, prior to the receipt of the Blockage Notice in question by Lender hereof may be kept by such holders of the Secured Notes, including Lender; and (ii) For purposes of this Section 4, a "Blockage Notice" is a notice of the holder of Senior Indebtedness that a Senior Default has in fact occurred and is continuing, given to Xxxxxx and the holders of the Secured Notes, including Lender. Notwithstanding any provision contained herein to the contrary, once all Senior Defaults which gave rise to the Blockage Notice in question shall have been remedied or effectively waived or shall have ceased to exist, or the Senior Indebtedness in respect of which such Senior Defaults shall have occurred shall have been paid in full in cash or in a manner satisfactory to the payees of such Senior Indebtedness, thereafter (unless another Blockage Period shall then be in effect) all amounts which would have been payable under the Secured Notes, including this Note, but for the existence of the Blockage Notice delivered with respect to the Senior Default in question shall be payable in their entirety.

Limitation on Payment. (i) Upon receipt by Xxxxxx Borrower and Lender the Holder of a Blockage Notice (as defined below), then, then unless and until (A1) all Senior Defaults that gave rise to the Blockage Notice shall have been remedied or effectively waived or shall have ceased to exist exist, or (B2) the Senior Indebtedness in respect of which such Senior Defaults shall have occurred shall have been paid in full in cash or in a manner satisfactory to the payees of such Senior Indebtednessfull, no direct or indirect payment (in cash, property, securities or by set-off or otherwise) of or on account of the principal evidenced by the Secured Notes, including of or Interest on this Note, or accrued and unpaid interest Note or as a sinking fund for the Secured Notes, including this Note, Note or in respect of any redemption, retirement, purchase or other acquisition of the Secured Notes, including this Note, Note shall be mademade during any period prior to the expiration of the Blockage Period (as defined below). Notwithstanding the foregoing, in the case of a Blockage Notice that relates to a Senior Covenant Default, the foregoing restrictions shall commence upon Xxxxxx'x receipt of such Blockage Notice and shall expire 270 days thereafter. Any principal and all interest paid with respect to the Secured Notes, including this Note, Note prior to the receipt of the Blockage Notice in question by Lender the Holder hereof may be kept by such holders of the Secured Notes, including Lender; and Holder. (ii) For purposes of this Section 47, a "Blockage Notice" is a notice of the holder of Senior Indebtedness that a Senior Default has that in fact has occurred and is continuing, given to Xxxxxx Borrower and the Holder by the holders of a majority in principal amount of the Secured NotesSenior Indebtedness then outstanding (or their authorized agent). (iii) For purposes of this Section 7, including Lendera "Blockage Period" with respect to a Blockage Notice is the period commencing upon Borrower's receipt of such Blockage Notice and having a duration as follows: (1) until no Senior Payment Default exists if the Senior Default to which the Blockage Notice refers is a Senior Payment Default; or (2) 180 days if the Senior Default to which the Blockage Notice refers is a Senior Covenant Default. Notwithstanding any provision contained herein to the contrary: (A) the Borrower shall not be prohibited from making, and the Holder shall not be prohibited from receiving, payments under this Note pursuant to Section 7(c)(iii)(2) hereof for more than an aggregate of 180 days within any 360 day period, (B) there shall not be more than two Blockage Notices given in any 360 day period; (C) no Senior Covenant Default existing on the date any Blockage Notice is given to the Holder shall be used as a basis for any subsequent such notice, unless such Senior Covenant Default shall have ceased to exist for a period of at least 90 consecutive days; and (D) once all Senior Defaults which gave rise to the Blockage Notice in question shall have been remedied or effectively waived or shall have ceased to exist, or the Senior Indebtedness in respect of which such Senior Defaults shall have occurred shall have been paid in full in cash or in a manner satisfactory to the payees of such Senior Indebtednessfull, thereafter (unless another Blockage Period shall then be in effect) all amounts which would have been payable under the Secured Notes, including this Note, hereunder but for the existence of the Blockage Period effected by the Blockage Notice delivered with respect to the Senior Default in question shall be payable in their entirety.

Limitation on Payment. (i) Upon receipt by Xxxxxx the Borrower and Lender the Holder of a Blockage Notice (as defined below), then, then unless and until (A) all Senior Defaults that gave rise to the Blockage Notice shall have been remedied or effectively waived or shall have ceased to exist or (B) the Senior Indebtedness in respect of which such Senior Defaults shall have occurred shall have been paid in full in cash or in a manner satisfactory to the payees of such Senior Indebtednesscash, no direct or indirect payment (in cash, property, securities or by set-off or otherwise) of or on account of the principal evidenced by of or Interest on the Secured Notes, including this Note, or accrued and unpaid interest Notes or as a sinking fund for the Secured Notes, including this Note, Notes or in respect of any redemption, retirement, purchase or other acquisition of the Secured Notes, including this Note, Notes shall be mademade during any period prior to the expiration of the Blockage Period (as defined below). Notwithstanding the foregoing, in the case of a Blockage Notice that relates but subject to a Senior Covenant DefaultSection 16(b), the foregoing restrictions shall commence upon Xxxxxx'x receipt of such Blockage Notice all interest and shall expire 270 days thereafter. Any principal and interest other amounts paid with respect to the Secured Notes, including this Note, Notes prior to the receipt of the Blockage Notice in question by Lender hereof 104 the Holders thereof may be kept by such holders of the Secured Notes, including Lender; and Holders. (ii) For purposes of this Section 4Article 16, a "Blockage Notice" is a notice of the holder of Senior Indebtedness that a Senior Default has that in fact has occurred and is continuing, given to Xxxxxx the Borrower and the Holders by the Joint Collateral Agent pursuant to the terms of the TCP Intercreditor Agreement; provided that a Senior Default that occurs under either the Senior Credit Agreement or the TCP Purchase Agreement that gave rise to a Blockage Notice shall be deemed under the corresponding provisions of the other agreement constituting Senior Indebtedness to be a Senior Default giving rise to such Blockage Notice. If at any time that the TCP Intercreditor Agreement shall not be in effect (as evidenced by written notification thereof from the Joint Collateral Agent to the Holder), by the holder of either a majority in principal amount of the Senior Indebtedness then outstanding under the Senior Credit Agreement (or their authorized agent) or a majority in principal amount of the Senior Indebtedness then outstanding under the TCP Purchase Agreement; provided, however, that any such Blockage Notice sent on behalf of the holders of Senior Indebtedness under the Secured Notes, including Lender. Notwithstanding any provision contained herein Senior Credit Agreement or the TCP Purchase Agreement shall be deemed to the contrary, once all Senior Defaults which gave rise to the be a Blockage Notice in question shall have been remedied or effectively waived or shall have ceased to exist, or sent on behalf of all holders of the Senior Indebtedness in respect for all purposes of which such Senior Defaults shall have occurred shall have been paid in full in cash or in a manner satisfactory to the payees of such Senior Indebtedness, thereafter (unless another Blockage Period shall then be in effect) all amounts which would have been payable under the Secured Notes, including this Note, but for the existence of the Blockage Notice delivered with respect to the Senior Default in question shall be payable in their entiretySection 16.

Limitation on Payment. (i) Upon receipt by Xxxxxx the Company and Lender the Payee of a Blockage Notice (as defined below), then, then unless and until (A) all defaults in the payment of any Senior Defaults Indebtedness (the "Senior Defaults") that gave rise to the Blockage Notice shall have been remedied or effectively waived or shall have ceased to exist or (B) the Senior Indebtedness in respect of which such Senior Defaults shall have occurred shall have been paid in full in cash or in (C) a manner satisfactory to notice of acceleration of the payees maturity of such Senior IndebtednessIndebtedness shall have been transmitted to the Company in respect of such Senior Defaults, no direct or indirect payment (in cash, property, securities or by set-off or otherwise) of or on account of the principal evidenced by the Secured Notes, including of or interest on this Note, or accrued and unpaid interest or as a sinking fund for the Secured Notes, including this Note, Subordinated Convertible Note or in respect of any redemption, retirement, purchase or other acquisition of the Secured Notes, including this Note, Subordinated Convertible Note shall be made. Notwithstanding the foregoing, in the case of a Blockage Notice that relates to a Senior Covenant Default, the foregoing restrictions shall commence upon Xxxxxx'x receipt of such Blockage Notice and shall expire 270 days thereafter. Any principal and interest paid with respect to the Secured Notes, including this Note, made during any period prior to the receipt expiration of the Blockage Notice in question by Lender hereof may be kept by such holders of the Secured Notes, including Lender; and Period (as defined below). (ii) For purposes of this Section 47, a "Blockage Notice" is a notice of the holder of Senior Indebtedness that a Senior Default has that in fact has occurred and is continuing, given to Xxxxxx the Company and the Payee by any holders of the Secured NotesSenior Indebtedness then outstanding (or their authorized agent); provided, including Lender. Notwithstanding any provision contained herein to the contraryhowever, once all Senior Defaults which gave rise to the that no such notice shall be effective as a Blockage Notice in question if an effective Blockage Notice shall have been remedied or effectively waived or shall have ceased given within 360 days prior thereto. (iii) For purposes of this Section 7, a "Blockage Period" with respect to exist, or a Blockage Notice is the period commencing upon the Company's receipt of such Blockage Notice and having the duration set forth in the particular agreement establishing the Senior Indebtedness in respect of to which the Company is a party; provided, that, such Senior Defaults shall have occurred shall have been paid in full in cash or in a manner satisfactory to Blockage Period is no more than 90 days. Notwithstanding the payees of such Senior Indebtednessforegoing, thereafter (unless another the Blockage Period shall then be in effectinapplicable or cease to be effective if an Event of Default pursuant to Section 6(d) all amounts which would or (e) shall have been payable under the Secured Notesoccurred. In addition, including this Note, but for the existence any Blockage Period shall cease to be effective if at any time during such period (i) substantial assets of the Company are sold or otherwise disposed of outside of the ordinary course of business for less than fair value or (ii) payment or any distribution of any character, whether in cash, securities or other property of the Company shall be made to or received by any creditor on any indebtedness which is on the same level of priority with or junior and subordinate in right of payment to this Subordinated Convertible Note. Upon the expiration or termination of any Blockage Notice delivered Period, the Payee shall be entitled to exercise any of its rights with respect to this Subordinated Convertible Note other than any right to accelerate the Senior maturity date of this Subordinated Convertible Note based upon the occurrence of any Event of Default in question shall be payable in their entiretyrespect thereto which has been cured or otherwise remedied during the Blockage Period.

Limitation on Payment. (i) Upon receipt by Xxxxxx the Company and Lender the Payee of a Blockage Notice (as defined below), then, then unless and until (A) all defaults in the payment of any Senior Defaults Indebtedness (the "Senior Defaults") that gave rise to the Blockage Notice shall have been remedied or effectively waived or shall have ceased to exist or (B) the Senior Indebtedness in respect of which such Senior Defaults shall have occurred shall have been paid in full in cash or in (C) a manner satisfactory to notice of acceleration of the payees maturity of such Senior IndebtednessIndebtedness shall have been transmitted to the Company in respect of such Senior Defaults, no direct or indirect payment (in cash, property, securities or by set-off or otherwise) of or on account of the principal evidenced by the Secured Notes, including of or interest on this Note, or accrued and unpaid interest or as a sinking fund for the Secured Notes, including this Note, Note or in respect of any redemption, retirement, purchase or other acquisition of the Secured Notes, including this Note, Note shall be made. Notwithstanding the foregoing, in the case of a Blockage Notice that relates to a Senior Covenant Default, the foregoing restrictions shall commence upon Xxxxxx'x receipt of such Blockage Notice and shall expire 270 days thereafter. Any principal and interest paid with respect to the Secured Notes, including this Note, made during any period prior to the receipt expiration of the Blockage Notice Period (as defined below); provided, however, that in question by Lender hereof may be kept by such holders no event shall the foregoing prevent the Payee from converting this Note into shares of the Secured Notes, including Lender; and Series C Preferred Stock. (ii) For purposes of this Section 4, a "Blockage Notice" is a notice of the holder of Senior Indebtedness that a Senior Default has that in fact has occurred and is continuing, given to Xxxxxx the Company and the Payee by any holders of the Secured NotesSenior Indebtedness then outstanding (or their authorized agent); provided, including Lender. Notwithstanding any provision contained herein to the contraryhowever, once all Senior Defaults which gave rise to the that no such notice shall be effective as a Blockage Notice in question if an effective Blockage Notice shall have been remedied or effectively waived or shall have ceased given within 360 days prior thereto. (iii) For purposes of this Section 4, a "Blockage Period" with respect to exist, or a Blockage Notice is the period commencing upon the Company's receipt of such Blockage Notice and having the duration set forth in the particular agreement establishing the Senior Indebtedness in respect of to which the Company is a party; provided, that, such Senior Defaults shall have occurred shall have been paid in full in cash or in a manner satisfactory to Blockage Period is no more than 90 days. Notwithstanding the payees of such Senior Indebtednessforegoing, thereafter (unless another the Blockage Period shall then be inapplicable or cease to be effective if an Event of Default pursuant to Section 3(d) or (e) shall have occurred. In addition, any Blockage Period shall cease to be effective if at any time during such period (i) substantial assets of the Company are sold or otherwise disposed of outside of the ordinary course of business for less than fair value or (ii) payment or any distribution of any character, whether in effect) all amounts cash, securities or other property of the Company shall be made to or received by any creditor on any indebtedness which would have been payable under is on the Secured Notes, including same level of priority with or junior and subordinate in right of payment to this Note. Upon the expiration or termination of any Blockage Period, but for the existence Payee shall be entitled to exercise any of the Blockage Notice delivered its rights with respect to this Note other than any right to accelerate the Senior maturity date of this Note based upon the occurrence of any Event of Default in question shall be payable in their entiretyrespect thereto which has been cured or otherwise remedied during the Blockage Period.

Limitation on Payment. (i) Upon receipt by Xxxxxx the Borrower and Lender the Holder of a Blockage Notice (as defined below), then, then unless and until (A1) all Senior Defaults that gave rise to the Blockage Notice shall have been remedied or effectively waived in writing or shall have ceased to exist exist, or (B2) the Senior Indebtedness in respect of which such Senior Defaults shall have occurred shall have been paid in full in cash or in a manner satisfactory to the payees of such Senior Indebtednesscash, no direct or indirect payment (in cash, property, securities or by set-off or otherwise) of or on account of the principal evidenced by the Secured Notesof, including this Notepremium, if any, or accrued and unpaid interest Interest on this Note or as a sinking fund for the Secured Notes, including this Note, Note or in respect of any redemption, retirement, purchase or other acquisition of the Secured Notes, including this Note, Note or any other payment on account of Subordinated Indebtedness shall be mademade during any period prior to the expiration of the Blockage Period (as defined below). Notwithstanding the foregoing, in the case of a Blockage Notice that relates to a Senior Covenant Default, the foregoing restrictions shall commence upon Xxxxxx'x receipt of such Blockage Notice and shall expire 270 days thereafter. Any principal and all interest paid with respect to the Secured Notes, including this Note, Note prior to the receipt giving of the Blockage Notice in question by Lender the Holder hereof may be kept by such holders of the Secured Notes, including Lender; and Holder. (ii) For purposes of this Section 47, a "Blockage NoticeBLOCKAGE NOTICE" is a notice of the holder of Senior Indebtedness that a Senior Default that has in fact occurred and is continuing, given to Xxxxxx the Borrower and the Holder by the Administrative Agent, on behalf of holders of a majority in principal amount of the Secured NotesSenior Indebtedness then outstanding (or their authorized agent); PROVIDED, including Lender. Notwithstanding HOWEVER, that not more than two (2) effective Blockage Notices shall be given within any provision contained herein 365 day period and not more than four (4) effective Blockage Notices shall be given pursuant to the contraryprovisions of this Section 7; and PROVIDED, once all FURTHER, HOWEVER, that no Senior Defaults Default existing on the date on which gave rise to the any Blockage Notice in question shall have been remedied or effectively waived or is given shall, unless the same shall have ceased to existexist for a period of at least 90 consecutive days, or be used as a basis for any subsequent Blockage Notice. (iii) For purposes of this Section 7, a "BLOCKAGE PERIOD" with respect to a Blockage Notice is the period commencing upon the date of the Borrower's receipt of such Blockage Notice and having a duration as follows: (1) 360 days, if the Senior Indebtedness in respect of Default to which such Senior Defaults shall have occurred shall have been paid in full in cash or in a manner satisfactory to the payees of such Senior Indebtedness, thereafter (unless another Blockage Period shall then be in effect) all amounts which would have been payable under the Secured Notes, including this Note, but for the existence of the Blockage Notice delivered with respect to refers is a Senior Payment Default; or (2) 180 days if the Senior Default in question shall be payable in their entiretyto which the Blockage Notice refers is a Senior Covenant Default.

Limitation on Payment. (i) Upon receipt by Xxxxxx the Borrower and Lender the Holder of a Blockage Notice (as defined below), then, then unless and until (A1) all Senior Defaults that gave rise to the Blockage Notice shall have been remedied or effectively waived or shall have ceased to exist exist, or (B2) the Senior Indebtedness in respect of which such Senior Defaults shall have occurred shall have been paid in full in cash or in a manner satisfactory to the payees of such Senior Indebtednessfull, no direct or indirect payment (in cash, property, securities or by set-off or otherwise) of or on account of the principal evidenced by the Secured Notes, including of or interest on this Note, or accrued and unpaid interest Note or as a sinking fund for the Secured Notes, including this Note, Note or in respect of any redemption, retirement, purchase or other acquisition of the Secured Notes, including this Note, Note shall be made. Notwithstanding the foregoing, in the case of a Blockage Notice that relates to a Senior Covenant Default, the foregoing restrictions shall commence upon Xxxxxx'x receipt of such Blockage Notice and shall expire 270 days thereafter. Any principal and interest paid with respect to the Secured Notes, including this Note, made during any period prior to the receipt expiration of the Blockage Notice in question by Lender hereof may be kept by such holders of the Secured Notes, including Lender; and Period (as defined below). (ii) For purposes of this Section 47, a "Blockage Notice" is a notice of the holder of Senior Indebtedness that a Senior Default has that in fact has occurred and is continuing, given to Xxxxxx the Borrower and the Holder by the holders of a majority in principal amount of the Secured NotesSenior Indebtedness then outstanding (or their authorized agent); provided, including Lender. Notwithstanding any provision contained herein to the contraryhowever, once all that no such notice of a Senior Defaults which gave rise to the Covenant Default shall be effective as a Blockage Notice in question if an effective Blockage Notice based on a Senior Covenant Default shall have been remedied or effectively waived or given within 360 days prior thereto; and provided further, however, that no Senior Default on which a Blockage Notice is based shall be used as the basis of any subsequent Blockage Notice unless the same shall have ceased to existexist for a period of at least 90 consecutive days. (iii) For purposes of this Section 7, or a "Blockage Period" with respect to a Blockage Notice is the period commencing upon the Borrower's receipt of such Blockage Notice and having a duration as follows: (1) 179 days if the Senior Indebtedness in respect of Default to which such Senior Defaults shall have occurred shall have been paid in full in cash or in a manner satisfactory to the payees of such Senior Indebtedness, thereafter (unless another Blockage Period shall then be in effect) all amounts which would have been payable under the Secured Notes, including this Note, but for the existence of the Blockage Notice delivered with respect to refers is a Senior Payment Default; or (2) 89 days if the Senior Default in question shall be payable in their entiretyto which the Blockage Notice refers is a Senior Covenant Default.