Common use of Obligations of Company Unconditional; Reinstatement Clause in Contracts

Obligations of Company Unconditional; Reinstatement. Nothing in this Article 10 or elsewhere in this Indenture or in any Debenture is intended to or shall impair, as between the Company and Holders of the Debentures, the obligations of the Company, which are absolute and unconditional, to pay to such Holders the principal of and premium, if any, and interest on the Debentures as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of such Holders of the Debentures and creditors of the Company other than the holders of the Senior Indebtedness, nor shall anything herein or therein prevent the Trustee or any Holder of Debentures or holder of Preferred Securities, as applicable, from exercising all remedies otherwise permitted by applicable law under this Indenture, subject to the rights, if any, under this Article 10 of the holders of such Senior Indebtedness in respect of cash, property or securities of the Company received upon the exercise of any such remedy. The failure to make a scheduled payment of principal of or premium, if any, or interest on the Debentures by reason of Section 10.02 shall not be construed as preventing the occurrence of an Event of Default under Section 6.01 hereof; provided, however, that if (i) the conditions preventing the making of such payment no longer exist, and (ii) such Holders of the Debentures are made whole with respect to such omitted payments, the Event of Default relating thereto (including any failure to pay any accelerated amounts) shall be automatically waived, and the provisions of the Indenture shall be reinstated as if no such Event of Default had occurred.

Appears in 4 contracts

Samples: Public Service Enterprise Group Inc, Public Service Electric & Gas Co, Public Service Electric & Gas Co

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Obligations of Company Unconditional; Reinstatement. Nothing in this Article 10 or elsewhere in this Indenture or in any Debenture is intended to or shall impair, as between the Company and Holders of the Debentures, the obligations of the Company, which are absolute and unconditional, to pay to such Holders the principal of and premium, if any, and interest on the Debentures as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of such Holders of the Debentures and creditors of the Company other than the holders of the Senior Indebtedness, nor shall anything herein or therein prevent the Trustee or any Holder of Debentures or holder of Preferred Securities, as applicable, from exercising all remedies otherwise permitted by applicable law under this Indenture, subject to the rights, if any, under this Article 10 of the holders of such Senior Indebtedness in respect of cash, property or securities of the Company received upon the exercise of any such remedy. The failure to make a scheduled payment of principal of or premium, if any, or interest on the Debentures by reason of Section 10.02 shall not be construed as preventing the occurrence of a Default or an Event of Default under Section 6.01 hereof6.01; provided, however, that if (ia) the conditions preventing the making of such payment no longer exist, and (iib) such Holders of the Debentures are made whole with respect to such omitted payments, the Default or Event of Default relating thereto (including any failure to pay any accelerated amounts) shall be automatically waived, and the provisions of the Indenture shall be reinstated as if no such Event of Default had occurred.

Appears in 3 contracts

Samples: Indenture (Radio One Licenses LLC), New York Community Bancorp Inc, Hercules Inc

Obligations of Company Unconditional; Reinstatement. Nothing in this Article 10 or elsewhere in this Indenture or in any Debenture is intended to or shall impair, as between the Company and Holders of the Debentures, the obligations of the Company, which are absolute and unconditional, to pay to such Holders the principal of and premium, if any, and interest on the Debentures as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of such Holders of the Debentures and creditors of the Company other than the holders of the Senior Indebtedness, nor shall anything herein or therein prevent the Trustee or any Holder of Debentures or holder of Preferred Securities, as applicable, from exercising all remedies otherwise permitted by applicable law under this Indenture, subject to the rights, if any, under this Article 10 of the holders of such Senior Indebtedness in respect of cash, property or securities of the Company received upon the exercise of any such remedy. The failure to make a scheduled payment of principal of or premium, if any, or interest on the Debentures by reason of Section 10.02 shall not be construed as preventing the occurrence of a Default or an Event of Default under Section 6.01 hereof6.01; provided, however, that if (i) the conditions preventing the making of such payment no longer exist, and (ii) such Holders of the Debentures are made whole with respect to such omitted payments, the Event of Default relating thereto (including any failure to pay any accelerated amounts) shall be automatically waived, and the provisions of the Indenture shall be reinstated as if no such Event of Default had occurred.if

Appears in 3 contracts

Samples: New York Community Capital Trust I, New York Community Bancorp Inc, New York Community Bancorp Inc

Obligations of Company Unconditional; Reinstatement. Nothing in this Article 10 10, or elsewhere in this Indenture or in any Debenture Security, is intended to or shall impair, as between the Company and the Holders of the DebenturesSecurities, the obligations of the Company, which are absolute and unconditional, to pay to such the Holders the principal of and premium, if anyof, and interest on on, the Debentures Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of such the Holders of the Debentures Securities and creditors of the Company other than the holders of the Senior Indebtedness, nor shall anything herein or therein prevent the Trustee Trustee, the Special Representative or any Holder of Debentures or holder of Preferred Securities, as applicable, from exercising all remedies otherwise permitted by applicable law upon Default under this Indenture, subject to the rights, if any, under this Article 10 of the holders of such Senior Indebtedness in respect of cash, property or securities of the Company received upon the exercise of any such remedy. The failure to make a scheduled payment of principal of or premium, if anyof, or interest on on, the Debentures Securities by reason of Section 10.02 hereof shall not be construed as preventing the occurrence of an Event of Default under Section 6.01 hereof; provided, however, that if (i) a the conditions preventing the making of such payment no longer exist, and (ii) such b the Holders of the Debentures Securities are made whole with respect to such omitted payments, the Event of Default relating thereto (including any failure to pay any accelerated amounts) shall be automatically waived, and the provisions of the Indenture shall be reinstated as if no such Event of Default had occurred.

Appears in 2 contracts

Samples: Indenture (Penelec Capital Trust), Indenture (Met Ed Capital Trust)

Obligations of Company Unconditional; Reinstatement. Nothing in this Article 10 or elsewhere in this Indenture or in any Debenture Trust Debt Security is intended to or shall impair, as between the Company and Holders of the DebenturesTrust Debt Securities, the obligations of the Company, which are absolute and unconditional, to pay to such Holders the principal of and premium, if any, and interest on the Debentures Trust Debt Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of such Holders of the Debentures Trust Debt Securities and creditors of the Company other than the holders of the Senior Indebtedness, nor shall anything herein or therein prevent the Trustee or any Holder of Debentures Trust Debt Securities or holder of Preferred Trust Securities, as applicable, from exercising all remedies otherwise permitted by applicable law under this Indenture, subject to the rights, if any, under this Article 10 of the holders of such Senior Indebtedness in respect of cash, property or securities of the Company received upon the exercise of any such remedy. The failure to make a scheduled payment of principal of or premium, if any, or interest on the Debentures Trust Debt Securities by reason of Section 10.02 hereof shall not be construed as preventing the occurrence of an Event of Default under Section 6.01 hereof; provided, however, that if (i) the conditions preventing the making of such payment no longer exist, and (ii) such Holders of the Debentures Trust Debt Securities are made whole with respect to such omitted payments, the Event of Default relating thereto (including any failure to pay any accelerated amounts) shall be automatically waived, and the provisions of the Indenture shall be reinstated as if no such Event of Default had occurred.

Appears in 1 contract

Samples: Successor (Southwest Gas Corp)

Obligations of Company Unconditional; Reinstatement. Nothing in this Article 10 Seventeen or elsewhere in this Indenture or in any Debenture Security is intended to or shall impair, as between among the Company, its creditors other than holders of Company Senior Indebtedness and Holders of the DebenturesSecurities, the obligations of the Company, which are absolute and unconditional, to pay to such Holders the principal of and premium, if any, any premium and interest Interest on and Additional Amounts with respect to the Debentures Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of such Holders of the Debentures Securities and creditors of the Company other than the holders of the Company Senior Indebtedness, nor shall anything herein or therein prevent the Trustee or any Holder of Debentures Securities or holder of Preferred Securities, as applicable, from exercising all remedies otherwise permitted by applicable law under this Indenture, subject to the rights, if any, under this Article 10 Seventeen of the holders of such Company Senior Indebtedness in respect of cash, property or securities of the Company received upon the exercise of any such remedy. The failure to make a scheduled payment of principal of or premium, if any, any premium or interest Interest on or Additional Amounts with respect to the Debentures Securities by reason of Section 10.02 1702 shall not be construed as preventing the occurrence of a Default or an Event of Default under Section 6.01 hereof501; provided, however, that if (i1) the conditions preventing the making of such payment no longer exist, and (ii2) such Holders of the Debentures Securities are made whole with respect to such omitted payments, the Default or Event of Default relating thereto (including any failure to pay any accelerated amounts) shall be automatically waived, and the provisions of the Indenture shall be reinstated as if no such Event of Default had occurred.

Appears in 1 contract

Samples: Apache Corp

Obligations of Company Unconditional; Reinstatement. Nothing in this Article 10 10, or elsewhere in this Indenture or in any Debenture Debenture, is intended to or shall impair, as between the Company and Holders of the Debentures, the obligations of the Company, which are absolute and unconditional, to pay to such Holders the principal of and premium, if anyof, and interest on on, the Debentures as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of such Holders of the Debentures and creditors of the Company other than the holders of the Senior Indebtedness, nor shall anything herein or therein prevent the Trustee Trustee, the Special Representative or any Holder of Debentures or holder of Preferred Securities, as applicable, from exercising all remedies otherwise permitted by applicable law upon Default under this Indenture, subject to the rights, if any, under this Article 10 of the holders of such Senior Indebtedness in respect of cash, property or securities of the Company received upon the exercise of any such remedy. The failure to make a scheduled payment of principal of or premium, if anyof, or interest on on, the Debentures by reason of Section 10.02 shall not be construed as preventing the occurrence of an Event of Default under Section 6.01 hereof; provided, however, that if (i) the conditions preventing the making of such payment no longer exist, and (ii) such Holders of the Debentures are made whole with respect to such omitted payments, the Event of Default relating thereto (including any failure to pay any accelerated amounts) shall be automatically waived, and the provisions of the Indenture shall be reinstated as if no such Event of Default had occurred.

Appears in 1 contract

Samples: Peco Energy Co

Obligations of Company Unconditional; Reinstatement. Nothing in this Article 10 or elsewhere in this Indenture or in any Debenture is intended to or shall impair, as between the Company and Holders of the Debentures, the obligations of the Company, which are absolute and unconditional, to pay to such Holders the principal of and premium, if any, and interest on the Debentures as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of such Holders of the Debentures and creditors of the Company other than the holders of the Senior Indebtedness, nor shall anything herein or therein prevent the Trustee or any Holder of Debentures or holder of Preferred Securities, as applicable, from exercising all remedies otherwise permitted by applicable law under this Indenture, subject to the rights, if any, under this Article 10 of the holders of such Senior Indebtedness in respect of cash, property or securities of the Company received upon the exercise of any such remedy. The failure to make a scheduled payment of principal of or premium, if any, or interest on the Debentures by reason of Section 10.02 shall not be construed as preventing the occurrence of a Default or an Event of Default under Section 6.01 hereof6.01; provided, however, that if (ia) the conditions preventing the making of such payment no longer exist, and (iib) such Holders of the Debentures are made whole with respect to such omitted payments, the Default or Event of Default relating thereto (including any failure to pay any accelerated amounts) shall be automatically waived, and the provisions of the Indenture shall be reinstated as if no such Event of Default had occurred.relating

Appears in 1 contract

Samples: Indenture (Cox Trust Ii)

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Obligations of Company Unconditional; Reinstatement. Nothing in this Article 10 Seventeen or elsewhere in this Indenture or in any Debenture Security is intended to or shall impair, as between among the Company, its creditors other than holders of Company Senior Indebtedness and Holders of the DebenturesSecurities, the obligations of the Company, which are absolute and unconditional, to pay to such Holders the principal of and premium, if any, any premium and interest Interest on and Additional Amounts with respect to the Debentures Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of such Holders of the Debentures Securities and creditors of the Company other than the holders of the Company Senior Indebtedness, nor shall anything herein or therein prevent the Trustee or any Holder of Debentures Securities or holder of Preferred Securities, as applicable, from exercising all remedies otherwise permitted by applicable law under this Indenture, subject to the rights, if any, under this Article 10 Seventeen of the holders of such Company Senior Indebtedness in respect of cash, property or securities of the Company received upon the exercise of any such remedy. 97 The failure to make a scheduled payment of principal of or premium, if any, any premium or interest Interest on or Additional Amounts with respect to the Debentures Securities by reason of Section 10.02 1702 shall not be construed as preventing the occurrence of a Default or an Event of Default under Section 6.01 hereof501; provided, however, that if (i1) the conditions preventing the making of such payment no longer exist, and (ii2) such Holders of the Debentures Securities are made whole with respect to such omitted payments, the Default or Event of Default relating thereto (including any failure to pay any accelerated amounts) shall be automatically waived, and the provisions of the Indenture shall be reinstated as if no such Event of Default had occurred.

Appears in 1 contract

Samples: Apache Corp

Obligations of Company Unconditional; Reinstatement. Nothing in this Article 10 or elsewhere in this Indenture or in any Debenture is intended to or shall impair, as between the Company and Holders of the Debentures, the obligations of the Company, which are absolute and unconditional, to pay to such Holders the principal of and premium, if any, and interest on the Debentures as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of such Holders of the Debentures and creditors of the Company other than the holders of the Senior Indebtedness, nor shall anything herein or therein prevent the Trustee or any Holder of Debentures or holder of Preferred Securities, as applicable, from exercising all remedies otherwise permitted by applicable law under this Indenture, subject to the rights, if any, under this Article 10 of the holders of such Senior Indebtedness in respect of cash, property or securities of the Company received upon the exercise of any such remedy. The failure to make a scheduled payment of principal of or premium, if any, or interest on the Debentures by reason of Section 10.02 shall not be construed as preventing the occurrence of a Default or an Event of Default under Section 6.01 hereof6.01; provided, however, that if (ia) the conditions preventing the making of such payment no longer exist, and (iib) such Holders of the Debentures are made whole with respect to such omitted payments, the Default or Event of Default relating thereto (including any failure 45 52 to pay any accelerated amounts) shall be automatically waived, and the provisions of the Indenture shall be reinstated as if no such Event of Default had occurred.

Appears in 1 contract

Samples: Hercules Inc

Obligations of Company Unconditional; Reinstatement. Nothing in this Article 10 10, or elsewhere in this Indenture or in any Debenture Security, is intended to or shall impair, as between the Company and the Holders of the DebenturesSecurities, the obligations of the Company, which are absolute and unconditional, to pay to such the Holders the principal of and premium, if anyof, and interest on on, the Debentures Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of such the Holders of the Debentures Securities and creditors of the Company other than the holders of the Senior Indebtedness, nor shall anything herein or therein prevent the Trustee Trustee, the Special Representative or any Holder of Debentures or holder of Preferred Securities, as applicable, from exercising all remedies otherwise permitted by -43- applicable law upon Default under this Indenture, subject to the rights, if any, under this Article 10 of the holders of such Senior Indebtedness in respect of cash, property or securities of the Company received upon the exercise of any such remedy. The failure to make a scheduled payment of principal of or premium, if anyof, or interest on on, the Debentures Securities by reason of Section 10.02 hereof shall not be construed as preventing the occurrence of an Event of Default under Section 6.01 hereof; provided, however, that if (i) a the conditions preventing the making of such payment no longer exist, and (ii) such b the Holders of the Debentures Securities are made whole with respect to such omitted payments, the Event of Default relating thereto (including any failure to pay any accelerated amounts) shall be automatically waived, and the provisions of the Indenture shall be reinstated as if no such Event of Default had occurred.

Appears in 1 contract

Samples: Indenture (Pennsylvania Electric Co)

Obligations of Company Unconditional; Reinstatement. Nothing in this Article 10 Sixteen or elsewhere in this Indenture or in any Debenture Security is intended to or shall impair, as between among the Company Company, its creditors other than holders of Senior Indebtedness and Holders of the DebenturesSecurities, the obligations of the Company, which are absolute and unconditional, to pay to such Holders the principal of and premium, if any, any premium and interest on and Additional Amounts with respect to the Debentures Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of such Holders of the Debentures Securities and creditors of the Company other than the holders of the Senior Indebtedness, nor shall anything herein or therein prevent the Trustee or any Holder of Debentures Securities or holder of Preferred Securities, as applicable, from exercising all remedies otherwise permitted by applicable law under this Indenture, subject to the rights, if any, under this Article 10 Sixteen of the holders of such Senior Indebtedness in respect of cash, property or securities of the Company received upon the exercise of any such remedy. The failure to make a scheduled payment of principal of or premium, if any, any premium or interest on or Additional Amounts with respect to the Debentures Securities by reason of Section 10.02 1602 shall not be construed as preventing the occurrence of a Default or an Event of Default under Section 6.01 hereof501; provided, however, that if (i1) the conditions preventing the making of such payment no longer exist, and (ii2) such Holders of the Debentures Securities are made whole with respect to such omitted payments, the Default or Event of Default relating thereto (including any failure to pay any accelerated amounts) shall be automatically waived, and the provisions of the Indenture shall be reinstated as if no such Event of Default had occurred.

Appears in 1 contract

Samples: Apache Trust Ii

Obligations of Company Unconditional; Reinstatement. Nothing in this Article 10 10, or elsewhere in this Indenture or in any Debenture Security, is intended to or shall impair, as between the Company and the Holders of the DebenturesSecurities, the obligations of the -45- Company, which are absolute and unconditional, to pay to such the Holders the principal of and premium, if anyof, and interest on on, the Debentures Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of such the Holders of the Debentures Securities and creditors of the Company other than the holders of the Senior Indebtedness, nor shall anything herein or therein prevent the Trustee Trustee, the Special Representative or any Holder of Debentures or holder of Preferred Securities, as applicable, from exercising all remedies otherwise permitted by applicable law upon Default under this Indenture, subject to the rights, if any, under this Article 10 of the holders of such Senior Indebtedness in respect of cash, property or securities of the Company received upon the exercise of any such remedy. The failure to make a scheduled payment of principal of or premium, if anyof, or interest on on, the Debentures Securities by reason of Section 10.02 hereof shall not be construed as preventing the occurrence of an Event of Default under Section 6.01 hereof; provided, however, that if (i) a the conditions preventing the making of such payment no longer exist, and (ii) such b the Holders of the Debentures Securities are made whole with respect to such omitted payments, the Event of Default relating thereto (including any failure to pay any accelerated amounts) shall be automatically waived, and the provisions of the Indenture shall be reinstated as if no such Event of Default had occurred.

Appears in 1 contract

Samples: Indenture (Metropolitan Edison Co)

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