Common use of Payment on Debentures Permitted Clause in Contracts

Payment on Debentures Permitted. Nothing contained in this Article 5 or elsewhere in this Indenture, or in any of the Debentures, shall affect the obligation of the Corporation to make, or prevent the Corporation from making, at any time except as prohibited by Sections 5.2 or 5.5, any payment of principal of or, premium, if any, or interest on the Debentures. The fact that any such payment is prohibited by Sections 5.2 or 5.5 shall not prevent the failure to make such payment from being an Event of Default hereunder. Subject to Section 8.6 in all respects, nothing contained in this Article 5 or elsewhere in this Indenture, or in any of the Debentures, shall prevent the conversion of the Debentures, the issuance of Common Shares to the Debentureholders in payment of or on account of the Debenture Liabilities, or the application by the Trustee of any Common Shares deposited with the Trustee hereunder to the payment of or on account of the Debenture Liabilities and the transfer by the Trustee of such Common Shares to the Debentureholders.

Payment on Debentures Permitted. Nothing contained in this Article 5 or elsewhere in this Indenture, or in any of the Debentures, shall affect the obligation of the Corporation to make, or prevent the Corporation from making, at any time except as prohibited by Sections 5.2 or 5.5Section 5.6, any payment of principal of or, premium, if any, or interest on the Debentures. The fact that any such payment is prohibited by Sections 5.2 or 5.5 Section 5.6 shall not prevent the failure to make such payment from being an Event of Default hereunder. Subject to Section 8.6 in all respects, nothing Nothing contained in this Article 5 or elsewhere in this Indenture, or in any of the Debentures, shall prevent the conversion of the Debentures, the issuance of Common Shares to the Debentureholders in payment of or on account of the Debenture Liabilitiesor, or except as prohibited by Section 5.6, the application by the Trustee of any Common Shares monies deposited with the Trustee hereunder for the purpose, to the payment of payment, or on account account, of the Debenture Liabilities Debentures. Notwithstanding the foregoing, in the event that the Corporation shall default in its obligations hereunder, the sole recourse of the Trustee, the Debentureholders and the transfer by Beneficial Holders against the Corporation shall be with respect to the first priority Security Interest granted to the Trustee in the Secured Assets, and the Trustee, the Debentureholders and the Beneficial Holders shall have no right to payment from the Corporation or against any of such Common Shares to the Debentureholdersits other property or assets, except as otherwise permitted by law.

Payment on Debentures Permitted. Nothing contained in this Article 5 or elsewhere in this Indenture, or in any of the Debentures, shall affect the obligation of the Corporation Company to make, or prevent the Corporation Company from making, at any time except as prohibited by Sections 5.2 Section 5.7, the Intercreditor Agreement or 5.5any Intercreditor Arrangement, any payment of principal of or, premium, if any, or interest on the Debentures. The fact that any such payment is prohibited by Sections 5.2 Section 5.7, the Intercreditor Agreement or 5.5 any Intercreditor Arrangement, shall not prevent the failure to make such payment from being an Event of Default hereunder. Subject to Section 8.6 in all respects, nothing Nothing contained in this Article 5 or elsewhere in this Indenture, or in any of the Debentures, shall prevent the conversion of the DebenturesDebentures or, except as prohibited by Section 5.7, the issuance of Common Shares to the Debentureholders in payment of Intercreditor Agreement or on account of the Debenture Liabilitiesany Intercreditor Arrangement, or the application by the Debenture Trustee of any Common Shares monies deposited with the Debenture Trustee hereunder for the purpose, to the payment of or on account of the Debenture Liabilities and the transfer by the Trustee of such Common Shares to the DebentureholdersLiabilities.

Payment on Debentures Permitted. Nothing contained in this Article 5 or elsewhere in this Trust Indenture, or in any of the Debentures, shall affect the obligation of the Corporation to make, or prevent the Corporation from making, at any time except as prohibited by Sections during the pendency of any dissolution, winding up or liquidation of the Corporation or reorganization proceedings specified in Section 5.2 or 5.5affecting the affairs of the Corporation, any payment of principal of orof, premium, if any, or interest on the Debentures. The fact that any such payment is prohibited by Sections 5.2 or 5.5 this Article 5 shall not prevent the failure to make such payment from being an Event of Default hereunder. Subject to Section 8.6 in all respects, nothing Nothing contained in this Article 5 or elsewhere in this Trust Indenture, or in any of the Debentures, shall prevent the conversion of the Debentures, the issuance of Common Shares to the Debentureholders in payment of or on account of the Debenture Liabilities, or the application by the Debenture Trustee of any Common Shares moneys deposited with the Debenture Trustee hereunder for the purpose, to the payment of or on account of the Debenture Liabilities and principal of, or premium, if any, or interest, if any, on the transfer by the Trustee of such Common Shares to the DebentureholdersDebentures.

Payment on Debentures Permitted. Nothing contained in this Article 5 or elsewhere in this Indenture, or in any of the Debentures, shall affect the obligation of the Corporation to make, or prevent the Corporation from making, at any time except as prohibited by Sections during the pendency of any dissolution, winding up or liquidation of the Corporation or reorganization proceedings specified in Section 5.2 or 5.5affecting the affairs of the Corporation, any payment of principal of orof, premium, if any, or interest on the Debentures. The fact that any such payment is prohibited by Sections 5.2 or 5.5 this Article 5 shall not prevent the failure to make such payment from being an Event of Default hereunder. Subject to Section 8.6 in all respects, nothing Nothing contained in this Article 5 or elsewhere in this Indenture, or in any of the Debentures, shall prevent the conversion of the Debentures, the issuance of Common Shares to the Debentureholders in payment of or on account of the Debenture Liabilities, or the application by the Trustee of any Common Shares moneys deposited with the Trustee hereunder for the purpose, to the payment of or on account of the Debenture Liabilities and principal of, or premium, if any, or interest on the transfer by the Trustee of such Common Shares to the DebentureholdersDebentures.

Payment on Debentures Permitted. Nothing contained in this Article 5 or elsewhere in this Indenture, or in any of the Debentures, shall affect the obligation of the Corporation to make, or prevent the Corporation from making, at any time except as prohibited by Sections during the pendency of any dissolution, winding up or liquidation of the Corporation or reorganization proceedings specified in Section 5.2 or affecting the affairs of the Corporation, and except in the circumstances specified in Section 5.5, any payment of principal of or, premium, if any, or interest on the Debentures. The fact that any such payment is prohibited by Sections 5.2 or 5.5 this Section 5.6 shall not prevent the failure to make such payment from being an Event of Default hereunder. Subject to Section 8.6 in all respects, nothing Nothing contained in this Article 5 or elsewhere in this Indenture, or in any of the Debentures, shall prevent the conversion of the DebenturesDebentures pursuant to Article 6. Notwithstanding the provisions of this Article 5 or any provision in this Indenture or in the Debentures contained, the issuance of Common Shares to the Debentureholders in payment of or on account Trustee shall not be charged with knowledge of the Debenture Liabilitiesexistence of any Senior Indebtedness or of any default in the payment thereof, or the application by unless and until the Trustee shall have received written notice thereof from the Corporation or from the holder of Senior Indebtedness or from the representative of any Common Shares deposited with the Trustee hereunder to the payment of or on account of the Debenture Liabilities and the transfer by the Trustee of such Common Shares to the Debentureholdersholder.