Common use of No Payment During Events of Default Clause in Contracts

No Payment During Events of Default. There shall be no repurchase of any Notes pursuant to this Section 3.01 if there has occurred and is continuing an Event of Default with respect to the Notes (other than an Event of Default that is cured by the payment of the Fundamental Change Repurchase Price of the Notes). The Paying Agent shall promptly return to the respective Holders thereof any Definitive Notes held by it during the continuance of an Event of Default (other than an Event of Default that is cured by the payment of the Fundamental Change Repurchase Price with respect to the Notes) and shall deem canceled any instructions for book-entry transfer of the Notes in compliance with the procedures of the Depositary, in which case, upon such return and cancelation, the Fundamental Change Repurchase Notice with respect thereto shall be deemed to have been withdrawn.

Appears in 3 contracts

Samples: Supplemental Indenture (PDL Biopharma, Inc.), Supplemental Indenture (PDL Biopharma, Inc.), Supplemental Indenture (PDL Biopharma, Inc.)

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No Payment During Events of Default. There shall be no repurchase purchase of any Notes pursuant to this Section 3.01 6.6 if there has occurred and is continuing an Event of Default with respect to the Notes (other than an Event of Default that is cured by the payment of the Fundamental Change Repurchase Purchase Price of the Notes). The Paying Agent shall Company will promptly return to the respective Holders thereof any Definitive Notes held by it during the continuance of an Event of Default (other than an Event of Default that is cured by the payment of the Fundamental Change Repurchase Purchase Price with respect to the Notes) and shall deem canceled any instructions for book-entry transfer of the Notes in compliance with the procedures of the DepositaryNotes, in which case, upon such return and cancelation, the Fundamental Change Repurchase Purchase Notice with respect thereto shall be deemed to have been withdrawn.

Appears in 2 contracts

Samples: Note Purchase Agreement (Hall of Fame Resort & Entertainment Co), Note Purchase Agreement (Hall of Fame Resort & Entertainment Co)

No Payment During Events of Default. There shall be no repurchase purchase of any Notes pursuant to this Section 3.01 if there has occurred and is continuing an Event of Default with respect to the Notes (other than an Event of Default that is cured by the payment of the Fundamental Change Repurchase Purchase Price of the Notes). The Paying Agent shall will promptly return to the respective Holders thereof any Definitive Physical Notes held by it during the continuance of an Event of Default (other than an Event of Default that is cured by the payment of the Fundamental Change Repurchase Purchase Price with respect to the Notes) and shall deem canceled any instructions for book-entry transfer of the Notes in compliance with the procedures of the Depositary, in which case, upon such return and cancelationcancellation, the Fundamental Change Repurchase Purchase Notice with respect thereto shall be deemed to have been withdrawn.

Appears in 2 contracts

Samples: Indenture (Proofpoint Inc), Indenture (Proofpoint Inc)

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No Payment During Events of Default. There shall be no repurchase of any Notes pursuant to this Section 3.01 if there has occurred and is continuing an Event of Default with respect to the Notes (other than an Event of Default that is cured by the payment of the Fundamental Change Repurchase Price of the Notes). The Paying Agent shall promptly return to the respective Holders thereof any Definitive Notes held by it during the continuance of an Event of Default (other than an Event of Default that is cured by the payment of the Fundamental Change Repurchase Price with respect to the Notes) and shall deem canceled any instructions for book-entry transfer of the Notes in compliance with the procedures of the DepositaryApplicable Procedures, in which case, upon such return and cancelation, the Fundamental Change Repurchase Notice with respect thereto shall be deemed to have been withdrawn.

Appears in 1 contract

Samples: Supplemental Indenture (PDL Biopharma, Inc.)

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