Common use of No Payment on Note in Certain Circumstances Clause in Contracts

No Payment on Note in Certain Circumstances. (a) During the continuance of any default in the payment of any Senior Debt, whether at maturity, upon redemption or pursuant to acceleration or otherwise (each, a "Payment Default"), no direct or indirect payment of any kind shall be made, asked for, demanded, accepted, received or retained with respect to principal, interest or other amounts due under the Note nor shall any holder thereof exercise any remedies with respect thereto.

No Payment on Note in Certain Circumstances. (a) During To the continuance extent any payment hereunder is blocked by a Payment Restriction (or there occurs and is continuing a payment default or payment event of any default in the payment of under any Senior Debt, whether at maturity, upon redemption or pursuant to acceleration or otherwise (each, a "Payment Default"Indebtedness), no direct or indirect payment of any kind shall be made, asked for, demanded, accepted, received or retained with respect to principal, interest or other amounts due under the Note nor shall any holder thereof exercise any remedies with respect thereto.

No Payment on Note in Certain Circumstances. (a) During the continuance of If any default in the payment of any principal of or interest on any Senior DebtDebt when due and payable, whether at maturity, upon redemption any redemption, by declaration or pursuant to acceleration or otherwise (eachotherwise, a "Payment Default")occurs and is continuing, no direct or indirect payment of any kind shall be made, asked for, demanded, accepted, received or retained made by the Company with respect to principal, the principal of or interest on this Note or to acquire this Note for cash or property other amounts due under than conversion of this Note into Common Stock in accordance with the Note nor shall any holder thereof exercise any remedies with respect theretoNote.