No Payment on Securities in Certain Circumstances. (a) No direct or indirect payment by or on behalf of the Company of any Senior Subordinated Obligations, whether pursuant to the terms of the Securities or upon acceleration or otherwise, shall be made if, at the time of such payment, there exists a default in the payment of all or any portion of the obligations on any Senior Indebtedness, and such default shall not have been cured or waived, or the benefits of this sentence waived by or on behalf of, the holders of such Senior Indebtedness.
Appears in 5 contracts
Samples: Indenture (Winstar Communications Inc), Indenture (International Fast Food Corp), Indenture (International Fast Food Corp)
No Payment on Securities in Certain Circumstances. (a) No direct or indirect payment by or on behalf of the Company of any Senior Subordinated Obligations, whether pursuant to the terms of the Securities Notes or upon acceleration or otherwise, otherwise shall be made if, at the time of such payment, payment there exists a default in the payment of all or any portion of the obligations on any Senior Indebtedness, Debt and such default shall not have been cured or waived, waived or the benefits of this sentence waived by or on behalf of, of the holders holder of such Senior IndebtednessDebt.
Appears in 3 contracts
Samples: Subordination Agreement (Dovebid Inc), Stock Purchase Agreement (Dovebid Inc), Subordination Agreement (Dovebid Inc)
No Payment on Securities in Certain Circumstances. (a) No direct or indirect payment by or on behalf of the Company of any Senior Subordinated Obligations, whether pursuant to the terms of the Securities Note or upon acceleration or otherwise, otherwise shall be made if, at the time of such payment, payment there exists a default in the payment of all or any portion of the obligations on any Senior Indebtedness, Debt and such default shall not have been cured or waived, waived or the benefits of this sentence waived by or on behalf of, of the holders holder of such Senior IndebtednessDebt.
Appears in 2 contracts
Samples: Subordination Agreement (Dovebid Inc), Subordination Agreement (Dovebid Inc)
No Payment on Securities in Certain Circumstances. (a) No direct or indirect payment by or on behalf of the Company Holdings or a Successor Corporation of any Senior Subordinated Obligations, whether pursuant to the terms of the Securities or upon acceleration or otherwise, shall be made if, at the time of such payment, there exists a default in the payment of all or any portion of the obligations on any Senior Indebtedness, Indebtedness and such default shall not have been cured or waived, waived or the benefits of this sentence waived by or on behalf of, of the holders of such Senior Indebtedness.
Appears in 1 contract
Samples: Indenture (Silgan Holdings Inc)
No Payment on Securities in Certain Circumstances. (a) No direct or indirect payment by or on behalf of the Company of any Senior Subordinated Obligations, whether pursuant to the terms of the Securities or upon acceleration or otherwise, shall be made if, at the time of such payment, there exists a default in the payment of all or any portion of the obligations on under any Designated Senior IndebtednessIndebtedness has occurred and is continuing beyond any applicable grace period therefor, and such default shall not have been cured or waived, or the benefits of this sentence waived by or on behalf of, the holders of such Designated Senior Indebtedness.
Appears in 1 contract
