Common use of Notice of Default or Events of Default Clause in Contracts

Notice of Default or Events of Default. If a Default or an Event of Default occurs and is continuing and if it is known to the Trustee in the manner described in Section 8.02(a)(9), the Trustee shall send to each Holder of a Security notice of all uncured Defaults or Events of Default known to it within 90 days after it occurs or, if later, within 15 days after it becomes known to the Trustee. However, the Trustee may withhold the notice if and for so long as a committee of its Trust Officers in good faith determines that withholding notice is in the interests of Holders of Securities, except in the case of a Default or an Event of Default in payment of the principal of or interest on any Security when due or in the payment of any redemption or purchase obligation, or the Issuer’s failure to exchange Securities when obligated to exchange them.