Common use of No Payment When Guarantor Senior Debt in Default Clause in Contracts

No Payment When Guarantor Senior Debt in Default. (a) If an EPIL Default occurs and is continuing, then no payment or distribution of any kind or character shall be made (directly or indirectly) by or on behalf of the Guarantor or any other Person on its or their behalf with respect to any Guarantee Obligations or to acquire any of the Securities for cash or property or otherwise until such EPIL Default (and all other EPIL Defaults) shall have been cured or waived in accordance with the terms of the EPIL Agreements or ceased to exist or all EPIL Indebtedness with respect to which any EPIL Default has occurred and is continuing, shall have been paid in full in cash. (b) In the event that, notwithstanding the foregoing, any payment shall be received by the Company, the Trustee, any Paying Agent or any Holder when such payment is prohibited by paragraph (a) of this Section 17.2, such payment shall be held in trust (and segregated from the funds and other assets of the respective Person) for the benefit of, and shall be promptly paid over or delivered to, the holders of Guarantor Senior Debt (pro rata to such holders on the basis of the respective amount of Guarantor Senior Debt held by such holders) as their respective interests may appear. The Trustee and any Paying Agent shall be entitled to rely on information regarding amounts then due and owing on the Guarantor Senior Debt, if any, received from the holders of Guarantor Senior Debt or, if such information is not received from such holders, from the Guarantor and only amounts included in the information provided to the Trustee and any Paying Agent (as such information may be updated or corrected from time to time) shall be paid to the holders of Guarantor Senior Debt.

No Payment When Guarantor Senior Debt in Default. In the event and during the continuation of any default in the payment of principal of (aor premium, if any) If an EPIL Default occurs or interest on, or any other amounts owing with respect to, any Guarantor Senior Debt when the same becomes due and is continuingpayable or in the event any judicial proceeding shall be pending with respect to any such default, then then, unless and until such default shall have been cured or waived or shall have ceased to exist, no payment or distribution of any kind or character character, whether in cash or properties shall be made (directly or indirectly) by or on behalf of the Guarantor or any other Person on its or their behalf with respect to account of any Guarantee Obligations Payment. The Guarantor shall give prompt written notice to the Guarantee Trustee of any default in payment of principal of or interest on any Guarantor Senior Debt; provided that no failure to acquire any of the Securities for cash or property or otherwise until give such EPIL Default (and all other EPIL Defaults) a notice shall have been cured or waived in accordance with any effect whatsoever on the terms of the EPIL Agreements or ceased to exist or all EPIL Indebtedness with respect to which any EPIL Default has occurred and is continuing, shall have been paid in full in cash. (b) subordination provisions described herein. In the event that, notwithstanding the foregoing, the Guarantor shall make any payment shall be received by to the Company, the Trustee, any Paying Agent Guarantee Trustee or any Holder when such payment is prohibited by paragraph (a) the foregoing provisions of this Section, and if such fact shall, at or prior to the time of such payment, have been made known as set forth in Section 17.28.6, to the Guarantee Trustee or, as the case may be, such Holder, then and in such event such payment shall be held in trust (and segregated from the funds and other assets of the respective Person) for the benefit of, and shall be promptly paid over or and delivered to, forthwith to the holders of Guarantor Senior Debt (pro rata to such holders on the basis of the respective amount of Guarantor Senior Debt held by such holders) as their respective interests may appearGuarantor. The Trustee and provisions of this Section shall not apply to any Paying Agent shall payment with respect to which Section 8.2 would be entitled to rely on information regarding amounts then due and owing on the Guarantor Senior Debt, if any, received from the holders of Guarantor Senior Debt or, if such information is not received from such holders, from the Guarantor and only amounts included in the information provided to the Trustee and any Paying Agent (as such information may be updated or corrected from time to time) shall be paid to the holders of Guarantor Senior Debtapplicable.

No Payment When Guarantor Senior Debt in Default. (a) If an EPIL Default occurs In the event and is continuingduring the continuation of any default by the Guarantor in the payment of any amounts payable in respect of any Guarantor Senior Debt, or in the event that any event of default with respect to any Guarantor Senior Debt shall have occurred and be continuing and shall have resulted in such Guarantor Senior Debt becoming or being declared due and payable prior to the date on which it would otherwise have become due and payable, unless and until such event of default shall have been cured or waived or shall have ceased to exist and such acceleration shall have been rescinded or annulled, or in the event any judicial proceeding shall be pending with respect to any such default in payment or such event of default, then no direct or indirect payment or distribution of any kind or character character, by the Guarantor under the Guarantee or otherwise, whether in cash, property or securities shall be made (directly or indirectly) agreed to be made by the Guarantor on account of any Guaranteed Obligations or on behalf account of any redemption, repayment, retirement, purchase or other acquisition of any Securities by the Guarantor or any other Person on its or their behalf with respect to Subsidiary; provided, however, that nothing in this Section shall prevent the satisfaction of any Guarantee Obligations or to acquire any of the Securities for cash or property or otherwise until such EPIL Default (and all other EPIL Defaults) shall have been cured or waived sinking fund payment in accordance with this Indenture or as otherwise specified as contemplated by Section 2.01 for the terms Securities of any series by delivering and crediting pursuant to Section 4.02 or as otherwise specified as contemplated by Section 2.01 for the EPIL Agreements or ceased to exist or all EPIL Indebtedness with respect to Securities of any series Securities which any EPIL Default has occurred and is continuing, shall have been paid acquired (upon redemption or otherwise) prior to such default in full in cash. (b) payment or event of default. In the event that, notwithstanding the foregoing, the Guarantor shall make any payment shall be received to the Trustee or the Holder of any Security prohibited by the Companyforegoing provisions of this Section, and if, at or prior to the time of such payment, a Responsible Officer of the Trustee shall have received written notice thereof from the Holders, the Trusteeholders of any Guarantor Senior Debt, any Paying Agent or any Holder when the Guarantor (as provided in Section 15.10 below), then and in such payment is prohibited by paragraph (a) of this Section 17.2, event such payment shall be held in trust (and segregated from the funds and other assets of the respective Person) for the benefit of, and shall be promptly paid over or and delivered to, forthwith to the holders of Guarantor Senior Debt (pro rata to such holders on the basis of the respective amount of Guarantor Senior Debt held by such holders) as their respective interests may appearGuarantor. The Trustee and provisions of this Section shall not apply to any Paying Agent shall payment with respect to which Section 15.02 would be entitled to rely on information regarding amounts then due and owing on the Guarantor Senior Debt, if any, received from the holders of Guarantor Senior Debt or, if such information is not received from such holders, from the Guarantor and only amounts included in the information provided to the Trustee and any Paying Agent (as such information may be updated or corrected from time to time) shall be paid to the holders of Guarantor Senior Debtapplicable.

No Payment When Guarantor Senior Debt in Default. (a) If an EPIL Default occurs In the event and is continuingduring the continuation of any default by the Guarantor in the payment of any amounts payable in respect of any Guarantor Senior Debt, or in the event that any event of default with respect to any Guarantor Senior Debt shall have occurred and be continuing and shall have resulted in such Guarantor Senior Debt becoming or being declared due and payable prior to the date on which it would otherwise have become due and payable, unless and until such event of default shall have been cured or waived or shall have ceased to exist and such acceleration shall have been rescinded or annulled, or in the event any judicial proceeding shall be pending with respect to any such default in payment or such event of default, then no direct or indirect payment or distribution of any kind or character character, by the Guarantor under the Guarantee or otherwise, whether in cash, property or securities shall be made (directly or indirectly) agreed to be made by the Guarantor on account of any Guaranteed Obligations or on behalf account of any redemption, repayment, retirement, purchase or other acquisition of any Securities by the Guarantor or any other Person on its or their behalf with respect to any Guarantee Obligations or to acquire any Subsidiary of the Securities for cash or property or otherwise until such EPIL Default (and all other EPIL Defaults) shall have been cured or waived in accordance with the terms of the EPIL Agreements or ceased to exist or all EPIL Indebtedness with respect to which any EPIL Default has occurred and is continuing, shall have been paid in full in cash. (b) Guarantor. In the event that, notwithstanding the foregoing, the Guarantor or any Subsidiary of the Guarantor shall make any payment shall be received or distribution in payment of any Guaranteed Obligations to the Trustee or the Holder of any Security under the conditions contemplated by the Company, the Trustee, any Paying Agent or any Holder when such payment is prohibited by paragraph (a) foregoing provisions of this Section 17.215.04, and if, at or prior to the time of such payment, a Responsible Officer of the Trustee shall have received written notice thereof from the Holders, the holders of any Guarantor Senior Debt, or the Guarantor (as provided in Section 15.10 below), then and in such event such payment or distribution shall be held in trust (and segregated from the funds and other assets of the respective Person) for the benefit of, of and shall be promptly paid over or and delivered to, forthwith to the holders of Guarantor Senior Debt (pro rata to such holders on the basis of the respective amount of Guarantor Senior Debt held by such holders) as their respective interests may appearGuarantor. The Trustee and provisions of this Section shall not apply to any Paying Agent shall payment with respect to which Section 15.02 would be entitled to rely on information regarding amounts then due and owing on the Guarantor Senior Debt, if any, received from the holders of Guarantor Senior Debt or, if such information is not received from such holders, from the Guarantor and only amounts included in the information provided to the Trustee and any Paying Agent (as such information may be updated or corrected from time to time) shall be paid to the holders of Guarantor Senior Debtapplicable.

No Payment When Guarantor Senior Debt in Default. (a) If an EPIL Default occurs In the event and is continuing, then no payment or distribution during the continuation of any kind default in the payment of principal of (or character shall be made (directly premium, if any) or indirectly) by interest on any Guarantor Senior Debt, or on behalf in the event that any event of the Guarantor or any other Person on its or their behalf default with respect to any Guarantee Obligations Guarantor Senior Debt shall have occurred and be continuing and shall have resulted in such Guarantor Senior Debt becoming or being declared due and payable prior to acquire any of the Securities for cash or property or date on which it would otherwise have become due and payable, unless and until such EPIL Default (and all other EPIL Defaults) event of default shall have been cured or waived or shall have ceased to exist and such acceleration shall have been rescinded or annulled, or (b) in the event any judicial proceeding shall be pending with respect to any such default in payment or such event of default, then no payment (including any payment which may be payable by reason of the payment of any other indebtedness of the Guarantor being subordinated to the payment of the Guarantees) shall be made by the Guarantor pursuant to the Guarantee on account of principal of (or premium, if any) or interest on the Guaranteed Securities or on account of the purchase or other acquisition of Guaranteed Securities by the Guarantor or any Subsidiary of the Guarantor; provided, however, that nothing in this ________ _______ Section shall prevent the satisfaction of any sinking fund payment in accordance with the terms of the EPIL Agreements or ceased Article Thirteen by delivering and crediting pursuant to exist or all EPIL Indebtedness with respect to Section 1302 Guaranteed Securities which any EPIL Default has occurred and is continuing, shall have been paid acquired (upon redemption or otherwise) prior to such default in full in cash. (b) payment or event of default. In the event that, notwithstanding the foregoing, the Guarantor shall make any payment shall be received to the Trustee or the Holder of any Guaranteed Security prohibited by the Company, the Trustee, any Paying Agent or any Holder when such payment is prohibited by paragraph (a) foregoing provisions of this Section 17.2Section, and if such fact shall, at or prior to the time of such payment, have been made known to the Trustee or, as the case may be, such Holder, then and in such event such payment shall be held in trust (and segregated from the funds and other assets of the respective Person) for the benefit of, and shall be promptly paid over or and delivered to, forthwith to the holders of Guarantor Senior Debt (pro rata to such holders on the basis of the respective amount of Guarantor Senior Debt held by such holders) as their respective interests may appearGuarantor. The Trustee and provisions of this Section shall not apply to any Paying Agent shall payment with respect to which Section 1702 would be entitled to rely on information regarding amounts then due and owing on the Guarantor Senior Debt, if any, received from the holders of Guarantor Senior Debt or, if such information is not received from such holders, from the Guarantor and only amounts included in the information provided to the Trustee and any Paying Agent (as such information may be updated or corrected from time to time) shall be paid to the holders of Guarantor Senior Debtapplicable.