Common use of Payment Events Clause in Contracts

Payment Events. Unless otherwise provided in the Board Resolution or supplemental indenture pursuant to Section 3.01 establishing the terms of the particular series of Securities, if the Issuer fails to pay the amount due to satisfy any principal or interest payment that would have become due with respect to such Securities but for the Solvency Condition not being satisfied, such failure continues for fourteen days and the Solvency Condition is not satisfied at the end of such fourteen-day period, such failure will not constitute a “Payment Default” or a “Capital Security Default”, as the case may be, but instead will constitute a “Payment Event”, together with any other Payment Event with respect to any other series of Securities.

Payment Events. Unless otherwise provided in the Board Resolution or supplemental indenture executed pursuant to Section 3.01 establishing the terms of the particular series of Securities, if the Issuer fails to pay the amount due to satisfy any principal or interest payment that would have become due with respect to such Securities but for the Issuer Solvency Condition not being satisfied, such failure continues for fourteen 14 days and the Issuer Solvency Condition is not satisfied at the end of such fourteen14-day period, such failure will not constitute a “Payment Default” or a “Capital Perpetual Security Default”, as the case may be, but instead will constitute a “Payment Event”, together with any other Payment Event with respect to any other series of Securities.

Payment Events. Unless otherwise provided in the Board Resolution or supplemental indenture executed pursuant to Section 3.01 establishing the terms of the particular series of Securities, if the Issuer fails to pay the amount due to satisfy any principal or interest payment that would have become due with respect to such Securities but for the Solvency Condition not being satisfied, such failure continues for fourteen days and the Solvency Condition is not satisfied at the end of such fourteen-day period, such failure will not constitute a “Payment Default” or a “Capital Perpetual Security Default”, as the case may be, but instead will constitute a “Payment Event”, together with any other Payment Event with respect to any other series of Securities.

Payment Events. Unless otherwise provided in the Board Resolution or supplemental indenture executed pursuant to Section 3.01 establishing the terms of the particular series of Securities, if the Issuer fails to pay the amount due to satisfy any principal or interest payment that would have become due with respect to such Securities but for the Solvency Condition not being satisfied, such failure continues for fourteen 14 days and the Solvency Condition is not satisfied at the end of such fourteen14-day period, such failure will not constitute a “Payment Default” or a “Capital Perpetual Security Default”, as the case may be, but instead will constitute a “Payment Event”, together with any other Payment Event with respect to any other series of Securities.