No Payment on Guarantee in Certain Circumstances. (a) No payment shall be made by or on behalf of the Guarantor on account of any obligation or, to the extent the subordination thereof is permitted by applicable law, claim in respect of the Guarantee, including the Principal of or interest on the Securities, or to redeem (or make a deposit in redemption of), defease (other than payments made by the Trustee pursuant to Article 9 with respect to a defeasance permitted by this Indenture, including the subordination provisions herein) or acquire any of the Securities for cash, property or securities, (i) upon the maturity of the Guarantor Senior Indebtedness with an aggregate principal amount in excess of $100 million by lapse of time, acceleration or otherwise, unless and until all principal of, premium, if any, and interest on such Guarantor Senior Indebtedness and all other obligations in respect thereof shall first be paid in full in cash or cash equivalents or such payment is duly provided for, or unless and until any such maturity by acceleration has been rescinded or waived or (ii) in the event of default in payment of any principal of, premium, if any, or interest on or any other amount payable in respect of the Guarantor Senior Indebtedness with an aggregate principal amount in excess of $100 million when it becomes due and payable, whether at maturity or at a date fixed for prepayment or by declaration or otherwise, unless and until such payment default has been cured or waived or has otherwise ceased to exist.
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Samples: Default and Remedies (Credit Suisse Group), Credit Suisse Group, Credit Suisse Group
No Payment on Guarantee in Certain Circumstances. (a) No a)......If any default occurs and is continuing in the payment when due, whether at maturity, upon any redemption, by declaration or otherwise, of any principal of, interest on, unpaid drawings for letters of credit issued in respect of, or regularly accruing fees with respect to, any Guarantor Senior Indebtedness, no payment of any kind or character shall be made by or on behalf of the Guarantor or any other Person on account of the Guarantor's or its behalf with respect to any obligation orprincipal of, to the extent the subordination thereof is permitted by applicable law, claim interest on or other amounts owing in respect of the Guarantee, including Guarantor's Guarantee of the Principal of or interest on the Securities, Securities or to redeem (or make a deposit in redemption of), defease (other than payments made by the Trustee pursuant to Article 9 with respect to a defeasance permitted by this Indenture, including the subordination provisions herein) or acquire any of the Securities for cash, property or securitiesotherwise. If any other event of default occurs and is continuing with respect to any Guarantor Senior Indebtedness, (i) upon as such event of default is defined in the instrument creating or evidencing such Guarantor Senior Indebtedness, permitting the holders of such Guarantor's Senior Indebtedness then outstanding to accelerate the maturity thereof and if the Representative for the respective issue of the Guarantor Senior Indebtedness with an aggregate principal amount in excess gives written notice of $100 million by lapse the event of timedefault to the Trustee (a "default notice"), acceleration or otherwisethen, unless and until all principal of, premium, if any, and interest on such Guarantor Senior Indebtedness and all other obligations in respect thereof shall first be paid in full in cash or cash equivalents or such payment is duly provided for, or unless and until any such maturity by acceleration has been rescinded or waived or (ii) in the event events of default in payment of any principal of, premium, if any, or interest on or any other amount payable in respect of the Guarantor Senior Indebtedness with an aggregate principal amount in excess of $100 million when it becomes due and payable, whether at maturity or at a date fixed for prepayment or by declaration or otherwise, unless and until such payment default has have been cured or waived or has otherwise have ceased to exist.exist or the Trustee receives notice from the representative for the respective issue of Guarantor Senior Indebtedness terminating the blockage period (as defined below), neither the the Guarantor nor any other Person on its behalf shall:
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