Common use of Payment Permitted in Certain Situations Clause in Contracts

Payment Permitted in Certain Situations. Nothing --------------------------------------- contained in this Article 15 or elsewhere in the Indenture or in any of the Securities of any series (or any Coupons appertaining thereto) shall prevent (a) the Company, at any time except during the pendency of any dissolution, winding- up, liquidation or reorganization of the Company, whether voluntary or involuntary or any bankruptcy, insolvency, receivership or other proceedings of the Company referred to in Section 15.2 or under the conditions described in Section 15.3, from making payments at any time of principal of, or premium, if any, or interest on the Securities of such series, or (b) the application by the Trustee of any money deposited with it hereunder to the payment of or on account of the principal of, or premium, if any, or interest on the Securities of such series (or any Coupons appertaining thereto) or the retention of such payment by the Holders, if, at the time of such application by the Trustee, it did not have knowledge that such payment would have been prohibited by the provisions of this Article 15.

Payment Permitted in Certain Situations. Nothing contained --------------------------------------- contained in this Article 15 or elsewhere in the Indenture or in any of the Securities of any series (or any Coupons appertaining thereto) shall prevent (a) the Company, at any time except during the pendency of any dissolution, winding- winding-up, liquidation or reorganization of the Company, whether voluntary or involuntary or any bankruptcy, insolvency, receivership or other proceedings of the Company referred to in Section 15.2 or under the conditions described in Section 15.315.3 or 15.4, from making payments at any time of principal of, or premium, if any, or interest on the Securities of such series, or (b) the application by the Trustee of any money deposited with it hereunder to the payment of or on account of the principal of, or premium, if any, or interest on the Securities of such series (or any Coupons appertaining thereto) or the retention of such payment by the Holders, if, at the time of such application by the Trustee, it did not have knowledge that such payment would have been prohibited by the provisions of this Article 15.

Payment Permitted in Certain Situations. Nothing --------------------------------------- contained in this Article 15 or elsewhere in the Indenture or in any of the Securities of any series (or any Coupons appertaining thereto) shall prevent (a) the Company, at any time except during the pendency of any dissolution, winding- winding-up, liquidation or reorganization of the Company, whether voluntary or involuntary or any bankruptcy, insolvency, receivership or other proceedings of the Company referred to in Section 15.2 or under the conditions described in Section 15.315.3 or Section 15.4, from making payments at any time of principal of, or premium, if any, or interest on the Securities of such series, or (b) the application by the Trustee of any money deposited with it hereunder to the payment of or on account of the principal of, or premium, if any, or interest on the Securities of such series (or any Coupons appertaining thereto) or the retention of such payment by the Holders, if, at the time of such application by the Trustee, it did not have knowledge that such payment would have been prohibited by the provisions of this Article 15.

Payment Permitted in Certain Situations. Nothing contained --------------------------------------- contained in this Article 15 or elsewhere in the Indenture or in any of the Securities of any series (or any Coupons appertaining thereto) shall prevent (a) the Company, at any time except during the pendency of any dissolution, winding- winding-up, liquidation or reorganization of the Company, whether voluntary or involuntary or any bankruptcy, insolvency, receivership or other proceedings of the Company referred to in Section 15.2 or under the conditions described in Section 15.3, from making payments at any time of principal of, or premium, if any, or interest on the Securities of such series, or (b) the application by the Trustee of any money deposited with it hereunder to the payment of or on account of the principal of, or premium, if any, or interest on the Securities of such series (or any Coupons appertaining thereto) or the retention of such payment by the Holders, if, at the time of such application by the Trustee, it did not have knowledge that such payment would have been prohibited by the provisions of this Article 15.