Payment Permitted Clause Samples

Payment Permitted. Nothing contained in this Article IX or elsewhere in this Indenture, any indenture supplemental hereto or in any Securities issued hereunder shall prevent the Company at any time, except as expressly provided in Section 9.02, Section 9.03, Section 9.04 or Section 9.06, from making payments of principal of or premium, if any, or interest on Securities of any series in accordance with the terms thereof.

Payment Permitted. 47 Section 10.03

Payment Permitted. Nothing contained in this Section 10 or elsewhere in this Agreement or in any of the Notes shall prevent the Company from making, or any holder of Subordinated Debt from accepting, at any time except as expressly provided in Section 10.2, Section 10.3 or Section 10.4, payments of principal of (and Make-Whole Amount, if any) or interest on the Notes and other payments in respect thereof in accordance with the terms thereof.

Payment Permitted. Except under the conditions described in Sections 13.01(b), (c) or (d), nothing contained in this Article XIII or otherwise in this Indenture or in any other Note Document shall limit or prevent, or be construed to limit or prevent, the Issuer or any Subsidiary Guarantor from at any time making payments of principal of (and premium, if any) or interest on the Notes or making payments in respect of any other Note Obligations.

Payment Permitted. 48 Section 10.05 Provisions Solely to Define Relative Rights....................48 Section 10.05 Provisions Solely to Define Relative Rights....................49 ARTICLE XI.

Payment Permitted if No Default Nothing contained in this Article XII or elsewhere in this Indenture or in any of the Securities shall prevent (a) the Company or the Guarantor (if the Securities are Guaranteed Securities), at any time except during the pendency of any case, proceeding, dissolution, liquidation or other winding up, assignment for the benefit of creditors or other marshalling of assets and liabilities of the Company or the Guarantor, as the case may be, referred to in Section 12.2 or under the conditions described in Section 12.3 or 12.4, from making payments at any time of the Principal Amount, interest or such other amounts as may be provided for in Section 2.3(a), if any, as the case may be, in respect of the Securities, or (b) the application by the Trustee or the retention by any Holder of any money deposited with it hereunder to the - 55 - 64 payment of or on account of the Principal Amount, interest or such other amounts as may be provided for in Section 2.3(a), if any, as the case may be, in respect of the Securities if the Trustee did not have, at the time provided in the proviso to the first paragraph of Section 12.10, notice that such payment would have been prohibited by the provisions of this Article XII.

Payment Permitted. If No Default. ------------------------------- Nothing contained in this Article or elsewhere in this Indenture or in any of the Securities shall prevent the Company, at any time except during the pendency of any case, proceeding, dissolution, liquidation or other winding up, assignment for the benefit of creditors or other marshalling of assets and liabilities of the Company referred to in Section 1302 or under the conditions described in Section 1303, from making payments at any time of principal of (and premium, if any, on) or interest on the Securities.

Payment Permitted. 48 Section 10.05 Provisions Solely to Define Relative Rights.......

Payment Permitted. If No Default. Nothing contained in this Article XIII or elsewhere in this Indenture, or in any of the Securities, shall prevent (a) the Corporation at any time, except during the pendency of any default in the payment of any principal of or interest on any Senior Indebtedness as described in Section 13.1 or of any of the events described in clauses (a) and (b) of Section 13.1, from making payments of the principal of or interest, if any, on the Securities, or (b) the application by the Trustee or any Paying Agent of any moneys deposited with it hereunder to payments of the principal of or interest, if any, on the Securities, if, at the time of such deposit, the Trustee or such paying agent, as the case may be, did not have the written notice provided for in Section 13.4 of any event prohibiting the making of such deposit, or if, at the time of such deposit (whether or not in trust) by the Corporation with the Trustee or Paying Agent (other than the Corporation) such payment would not have been prohibited by the provisions of this Article XIII, and the Trustee or any Paying Agent shall not be affected by any notice to the contrary received by it on or after such date.