Common use of Payment of Subordinated Indebtedness Clause in Contracts

Payment of Subordinated Indebtedness. Not, and not permit any Subsidiary to: make any prepayment of principal of, or acquire, redeem or otherwise retire any Subordinated Indebtedness, if an Event of Default or Unmatured Event of Default has occurred and is continuing or will exist as a result of such prepayment or if such prepayment, acquisition, redemption or retirement would be inconsistent with the subordination provisions thereof; make any payment of principal or interest on any Subordinated Indebtedness if an Event of Default or Unmatured Event of Default exists or otherwise in any manner inconsistent with the subordination provisions thereof; amend or cancel or consent to or permit the amendment or cancellation of, or the subordination provisions thereof; take or omit to take any action whereby the subordination of such Indebtedness or any part thereof to the Notes might be terminated, impaired or adversely affected; or omit to give the Banks prompt written notice of any notice received from any holder of Subordinated Indebtedness of any default under any agreement or instrument relating to any Subordinated Indebtedness by reason whereof such Subordinated Indebtedness might become or be declared to be due or payable.

Payment of Subordinated Indebtedness. Not, and not permit any Subsidiary to: make any prepayment of principal of, or acquire, redeem or otherwise retire any Subordinated Indebtedness, if an Event of Default or Unmatured Event of Default has occurred and is continuing or will exist as a result of such prepayment or if such prepayment, acquisition, redemption or retirement would be inconsistent with the subordination provisions thereof; make any payment of principal or interest on any Subordinated Indebtedness if an Event of Default or Unmatured Event of Default exists or otherwise in any manner inconsistent with the subordination provisions thereof; amend or cancel or consent to or permit the amendment or cancellation of, or the subordination provisions thereof; take or omit to take any action whereby the subordination of such Indebtedness or any part thereof to the Notes might be terminated, impaired or adversely affected; or omit to give the Banks prompt written notice of any notice received from any holder of Subordinated Indebtedness of any default under any agreement or instrument relating to any Subordinated Indebtedness by reason whereof such Subordinated Indebtedness might become or be declared to be due or payable.

Payment of Subordinated Indebtedness. Not, and not permit any Subsidiary to: make any prepayment of principal of, or acquire, redeem or otherwise retire (except, in the case of the MIPS Debenture, retirement upon the conversion or exchange of all or any part of the MIPS Debenture for common or preferred stock of the Company, and retirement of up to five percent (5%) of the original principal balance of the MIPS Debenture for cash after the conversion or exchange of the remaining balance thereof for common or preferred stock of the Company after November, 1997), any Subordinated Indebtedness, if an Event of Default or Unmatured Event of Default has occurred and is continuing or will exist as a result of such prepayment or if such prepayment, acquisition, redemption or retirement would be inconsistent with the subordination provisions thereof; make any payment of principal or interest on any Subordinated Indebtedness if an Event of Default or Unmatured Event of Default exists or otherwise in any manner inconsistent with the subordination provisions thereofexists; amend or cancel or consent to or permit the amendment or cancellation of, or the subordination provisions thereof; take or omit to take any action whereby the subordination of such Indebtedness indebtedness or any part thereof to the Notes might be terminated, impaired or adversely affected; or omit to give the Banks prompt written notice of any notice received from any holder of Subordinated Indebtedness of any default under any agreement or instrument relating to any Subordinated Indebtedness by reason whereof such Subordinated Indebtedness might become or be declared to be due or payable.

Payment of Subordinated Indebtedness. NotThe Company will not, and will not permit any Subsidiary of its Subsidiaries to: make any permissive prepayment of principal of, or acquirepurchase, redeem or otherwise retire any Subordinated Indebtedness, if an Event of Default or Unmatured Event of Default has occurred and is continuing or will exist as a result of such prepayment or if such prepayment, acquisition, redemption or retirement would be inconsistent with the subordination provisions thereof; make any payment of principal or interest on any Subordinated Indebtedness if an Event of Default or Unmatured Event of Default exists exists; amend or otherwise in any manner inconsistent with cancel the subordination provisions thereof; supplement, modify or otherwise amend any instrument or cancel or consent agreement related to or permit the amendment or cancellation of, or the subordination provisions thereofany Subordinated Indebtedness; take or omit to take any action whereby the subordination of such Indebtedness indebtedness or any part thereof to the Notes Note might be terminated, impaired or adversely affected; or omit to give the Banks Bank prompt written notice of any notice received from any holder of Subordinated Indebtedness or of any default under any agreement or instrument relating to any Subordinated Indebtedness by reason whereof such Subordinated Indebtedness might become or be declared to be due or payable.