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

No Payment on Notes in Certain Circumstances. (a) No direct or indirect payment on account of the Notes or on account of the purchase or other acquisition of Notes by or on behalf of the Issuer shall be made if, at the time of such payment, there shall have occurred and be continuing a default in the payment of principal of (or premium, if any) or interest on Senior Debt (including without limitation upon acceleration of the maturity thereof) when due (a “Senior Payment Default”).

No Payment on Notes in Certain Circumstances. (a) No direct or indirect payment on account of the Notes or on account of the purchase or redemption or other acquisition of Notes by or on behalf of the Issuer shall be made if, at the time of such payment, there shall have occurred and be continuing a default in the payment of principal of (or premium, if any) or interest on Senior Debt (including without limitation upon acceleration of the maturity thereof) when due (a “Senior Payment Default”).

No Payment on Notes in Certain Circumstances. (a) No direct or indirect payment on account of the Notes or on account of the purchase or other acquisition of Notes by or on behalf of the Issuer and no deposit pursuant to Section 4.1 shall be made if, at the time of such paymentpayment or deposit, there shall have occurred and be continuing a default in the payment of principal of (or premium, if any) or interest on Senior Debt (including without limitation upon acceleration of the maturity thereof) when due (a “Senior Payment Default”).

No Payment on Notes in Certain Circumstances. (a) No direct or indirect payment on account of the Notes or on account of the purchase or redemption or other acquisition of Notes by or on behalf of the Issuer shall be made if, at the time of such payment, there shall have occurred and be continuing a default in the payment of principal of (or premium, if any) or interest on Senior Debt (including without limitation upon acceleration of the maturity thereof) when due (a “"Senior Payment Default”").