Common use of Payments After a Default Clause in Contracts

Payments After a Default. Upon the occurrence of an Event of Default with respect to the Securities of a Series and the subsequent declaration by the Trustee or the relevant Holders that the principal amount of all the Securities of such Series is due and payable immediately, the Trustee may by notice in writing: to IRSA PC and any Paying Agent, require each Paying Agent to deliver all Securities of such Series and all moneys, documents and records held by it with respect to the Securities of such Series to the Trustee or as the Trustee otherwise directs in such notice; and require any Paying Agent to act as agent of the Trustee under this Indenture and the Securities of such Series, and thereafter to hold all Securities of such Series and all moneys, documents and records held by it in respect to such Securities of such Series to the order of the Trustee; provided that the Trustee shall not thereby become obligated, or have any obligation, to compensate or indemnify such Paying Agent or to reimburse such Paying Agent for any expense.

Payments After a Default. Upon the occurrence of an Event of Default with respect to the Securities of a Series and the subsequent declaration by the Trustee or the relevant Holders that the principal amount of all the Securities of such Series is due and payable immediately, the Trustee may by notice in writing: (a) to IRSA PC and any Paying Agent, require each Paying Agent to deliver all Securities of such Series and all moneys, documents and records held by it with respect to the Securities of such Series to the Trustee or as the Trustee otherwise directs in such notice; and (b) require any Paying Agent to act as agent of the Trustee under this Indenture and the Securities of such Series, and thereafter to hold all Securities of such Series and all moneys, documents and records held by it in respect to such Securities of such Series to the order of the Trustee; provided that the Trustee shall not thereby become obligated, or have any obligation, to compensate or indemnify such Paying Agent or to reimburse such Paying Agent for any expense.

Payments After a Default. Upon the occurrence of an Event of Default with respect to the Securities of a Series and the subsequent declaration by the Trustee or the relevant Holders that the principal amount of all the Securities of such Series is due and payable immediately, the Trustee may by notice in writing: (a) to IRSA PC APSA and any Paying Agent, require each Paying Agent to deliver all Securities of such Series and all moneys, documents and records held by it with respect to the Securities of such Series to the Trustee or as the Trustee otherwise directs in such notice; and (b) require any Paying Agent to act as agent of the Trustee under this Indenture and the Securities of such Series, and thereafter to hold all Securities of such Series and all moneys, documents and records held by it in respect to such Securities of such Series to the order of the Trustee; provided that the Trustee shall not thereby become obligated, or have any obligation, to compensate or indemnify such Paying Agent or to reimburse such Paying Agent for any expense.

Payments After a Default. Upon the occurrence of an Event of Default with respect to the Securities of a Series and the subsequent declaration by the Trustee or the relevant Holders that the principal amount of all the Securities of such Series is due and payable immediately, the Trustee may by notice in writing: (a) to IRSA PC the Bank and any Paying Agent, require each Paying Agent to deliver all Securities of such Series and all moneys, documents and records held by it with respect to the Securities of such Series to the Trustee or as the Trustee otherwise directs in such notice; and (b) require any Paying Agent to act as agent of the Trustee under this Indenture and the Securities of such Series, and thereafter to hold all Securities of such Series and all moneys, documents and records held by it in respect to such Securities of such Series to the order of the Trustee; provided that the Trustee shall not thereby become obligated, or have any obligation, to compensate or indemnify such Paying Agent or to reimburse such Paying Agent for any expense.