Common use of Payments on Securities Permitted Clause in Contracts

Payments on Securities Permitted. Nothing contained in this Article XV or elsewhere in this Indenture, or in any of the Securities (or any Coupons appertaining thereto), shall (a) affect the obligation of the Company to make, or prevent the Company from making, at any time except in the event of any event specified in Section 15.2, payments at any time of principal of (or premium, if any) or interest, if any, on the Securities of any series (or any Coupons appertaining thereto) or of any sinking fund payments with respect to the Securities of any series, or (b) prevent the application by the Trustee or any Paying Agent of any moneys held by the Trustee or such Paying Agent in trust for the benefit of the holders of Securities of any series (and any Coupons appertaining thereto) as to which notice of redemption shall have been mailed or published at least once prior to the happening of an event specified in paragraph (b) or (c) of Section 15.2 to the payment of or on account of the principal of (and premium, if any on) and interest, if any, on such Securities (and any Coupons appertaining thereto), or (c) prevent the application by the Trustee or any Paying Agent of any moneys deposited prior to the happening of any event specified in paragraph (b) or (c) of Section 15.2 with the Trustee or such Paying Agent in trust for the purpose of paying a specified installment or installments of interest on the Securities of any series (or any Coupons appertaining thereto), to the payment of such installments of interest on the Securities of any series (or any Coupons appertaining thereto).

Payments on Securities Permitted. Nothing contained in this Article XV or elsewhere in this Indenture, Indenture or in any of the Securities (or any Coupons appertaining thereto), shall (ai) affect impair, as between the Company and Holders of Securities, the obligation of the Company to make, or prevent the Company from making, at any time except as provided in the event of any event specified in Section 15.2Sections 14.02, 14.03 and 14.09, payments at any time of principal of (or premium, if any, or interest (including interest accruing subsequent to the commencement of any proceeding for the bankruptcy or reorganization of the Company under any applicable bankruptcy, insolvency or similar law now or hereafter in effect) or intereston the Securities, as and when the same shall become due and payable in accordance with the terms of the Securities, (ii) affect the relative rights of the Holders of the Securities and creditors of the Company other than the holders of the Senior Indebtedness of the Company and the creditors in respect of General Obligations, (iii) prevent the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default thereunder, subject to the rights, if any, on the Securities of any series (or any Coupons appertaining thereto) or of any sinking fund payments with respect to the Securities of any series, or (b) prevent the application by the Trustee or any Paying Agent of any moneys held by the Trustee or such Paying Agent in trust for the benefit under Article Fourteen of the holders of Securities Senior Indebtedness and the creditors in respect of any series (and any Coupons appertaining thereto) as to which notice General Obligations in respect of redemption shall have been mailed cash, property or published at least once prior to the happening of an event specified in paragraph (b) or (c) of Section 15.2 to the payment of or on account securities of the principal Company received upon the exercise of (and premium, if any on) and interest, if any, on such Securities (and any Coupons appertaining thereto)remedy, or (civ) prevent the application by the Trustee or any Paying Agent of any moneys deposited with it hereunder to the payment of or on account of the principal of or premium, if any, or interest on the Securities or prevent the receipt by the Trustee or any Paying Agent of such moneys, if, prior to the happening of any event specified in paragraph (b) or (c) of Section 15.2 with second Business Day prior to such deposit, the Trustee or such Paying Agent in trust for the purpose of paying a specified installment or installments of interest on the Securities did not have written notice of any series (or any Coupons appertaining thereto), to event prohibiting the payment making of such installments of interest on deposit by the Securities of any series (or any Coupons appertaining thereto)Company.

Payments on Securities Permitted. Nothing contained in this Article XV or elsewhere in this Indenture, Indenture or in any of the Securities (or any Coupons appertaining thereto), shall (ai) affect impair, as between the Company and Holders of Securities, the obligation of the Company to make, or prevent the Company from making, at any time except as provided in the event of any event specified in Section 15.2Sections 14.02, 14.03, 14.08 and 14.09, payments at any time of principal of (or premium, if any, or interest (including interest accruing subsequent to the commencement of any proceeding for the bankruptcy or reorganization of the Company under any applicable bankruptcy, insolvency or similar law now or hereafter in effect) on the Securities, as and when the same shall become due and payable in accordance with the terms of the Securities, (ii) affect the relative rights of the Holders of the Securities and creditors of the Company other than the holders of the Senior Indebtedness of the Company and the creditors in respect of General Obligations, (iii) prevent the Trustee or interestthe Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default thereunder, subject to the rights, if any, on the Securities of any series (or any Coupons appertaining thereto) or of any sinking fund payments with respect to the Securities of any series, or (b) prevent the application by the Trustee or any Paying Agent of any moneys held by the Trustee or such Paying Agent in trust for the benefit under Article Fourteen of the holders of Securities Senior Indebtedness and the creditors in respect of any series (and any Coupons appertaining thereto) as to which notice General Obligations in respect of redemption shall have been mailed cash, property or published at least once prior to the happening of an event specified in paragraph (b) or (c) of Section 15.2 to the payment of or on account securities of the principal Company received upon the exercise of (and premium, if any on) and interest, if any, on such Securities (and any Coupons appertaining thereto)remedy, or (civ) prevent the application by the Trustee or any Paying Agent of any moneys deposited with it hereunder to the payment of or on account of the principal of or premium, if any, or interest on the Securities or prevent the receipt by the Trustee or any Paying Agent of such moneys, if, prior to the happening of any event specified in paragraph (b) or (c) of Section 15.2 with second Business Day prior to such deposit, the Trustee or such Paying Agent in trust for the purpose of paying a specified installment or installments of interest on the Securities did not have written notice of any series (or any Coupons appertaining thereto), to event prohibiting the payment making of such installments of interest on deposit by the Securities of any series (or any Coupons appertaining thereto)Company.

Payments on Securities Permitted. Nothing Subject to Section 15.01, nothing contained in this Indenture, any other supplemental indenture entered into in accordance with Article XV or elsewhere in XIV of this Indenture, or in any of the Securities will: (or any Coupons appertaining thereto)i) impair, shall (a) affect as between the obligation Company and the Holders, the obligations of the Company Company, to make, or prevent the Company from making, at any time except as provided in Section 15.02 and Section 15.03, payments of principal of, or interest (including interest accruing subsequent to the commencement of any proceeding for the bankruptcy or reorganization of the Company under any applicable bankruptcy, insolvency, or similar law now or hereafter in effect) on, the Securities, as and when the same will become due and payable in accordance with the terms of the Securities; (ii) affect the relative rights of the Holders and creditors of the Company other than the holders of the Senior Indebtedness; (iii) except as otherwise expressly provided in the event Securities with respect to the limitation on the rights of the Trustee and the Holders, to accelerate the maturity of the Securities and pursue remedies upon such an acceleration, prevent the Holder of any event specified in Section 15.2Securities or the Trustee from exercising all remedies otherwise permitted by applicable law upon default thereunder, payments at any time of principal of (or premium, if any) or interestsubject to the rights, if any, on the Securities of any series (or any Coupons appertaining thereto) or of any sinking fund payments with respect to the Securities of any series, or (b) prevent the application by the Trustee or any Paying Agent of any moneys held by the Trustee or such Paying Agent in trust for the benefit under this Article XV of the holders of Securities Senior Indebtedness in respect of any series (and any Coupons appertaining thereto) as to which notice cash, property or securities of redemption shall have been mailed or published at least once prior to the happening Company received upon the exercise of an event specified in paragraph (b) such remedy; or (c) of Section 15.2 to the payment of or on account of the principal of (and premium, if any on) and interest, if any, on such Securities (and any Coupons appertaining thereto), or (civ) prevent the application by the Trustee or any Paying Agent of any moneys deposited with it hereunder to the payment of or on account of the principal of, or interest on, the Securities or prevent the receipt by the Trustee or any Paying Agent of such moneys, if, prior to the happening of any event specified in paragraph (b) or (c) of Section 15.2 with third Business Day prior to such deposit, the Trustee or such Paying Agent in trust for the purpose of paying a specified installment or installments of interest on the Securities did not have written notice of any series (or any Coupons appertaining thereto), to event prohibiting the payment making of such installments of interest on deposit by the Securities of any series (or any Coupons appertaining thereto)Company.

Payments on Securities Permitted. Nothing contained in this Article XV or elsewhere in this Indenture, or in any of the Securities (or any Coupons appertaining thereto), shall (a) affect the obligation of the Company to make, or prevent the Company from making, at any time except in the event of any event specified in Section 15.21502, payments at any time of principal of (or premium, if any) or interest, if any, on the Securities of any series (or any Coupons appertaining thereto) or of any sinking fund payments with respect to the Securities of any series, or (b) prevent the application by the Trustee or any Paying Agent -67- 76 of any moneys held by the Trustee or such Paying Agent in trust for the benefit of the holders of Securities of any series (and any Coupons appertaining thereto) as to which notice of redemption shall have been mailed or published at least once prior to the happening of an event specified in paragraph (b) or (c) of Section 15.2 1502 to the payment of or on account of the principal of (and premium, if any on) and interest, if any, on such Securities (and any Coupons appertaining thereto), or (c) prevent the application by the Trustee or any Paying Agent of any moneys deposited prior to the happening of any event specified in paragraph (b) or (c) of Section 15.2 1502 with the Trustee or such Paying Agent in trust for the purpose of paying a specified installment or installments of interest on the Securities of any series (or any Coupons appertaining thereto), to the payment of such installments of interest on the Securities of any series (or any Coupons appertaining thereto).

Payments on Securities Permitted. Nothing contained in this Article XV or elsewhere in this Indenture, or in any of the Securities (or any Coupons appertaining thereto), shall (a) affect the obligation of the Company to make, or prevent the Company from making, at any time except in the event of any event specified in Section 15.2, payments at any time of principal of (or premium, if any) or interest, if any, on the Securities of any series (or any Coupons appertaining thereto) or of any sinking fund payments with respect to the Securities of any series, or (b) prevent the application by the Trustee or any Paying Agent of any moneys held by the Trustee or such Paying Agent in trust for the benefit of the holders of Securities of any series (and any Coupons appertaining thereto) as to which notice of redemption shall have been mailed or published at least once prior to the happening of an event specified in paragraph (b) or (c) of Section 15.2 to the payment of or on account of the principal of (and premium, if any any, on) and interest, if any, on such Securities (and any Coupons appertaining thereto), or (c) prevent the application by the Trustee or any Paying Agent of any moneys deposited prior to the happening of any event specified in paragraph (b) or (c) of Section 15.2 with the Trustee or such Paying Agent in trust for the purpose of paying a specified installment or installments of interest on the Securities of any series (or any Coupons appertaining thereto), to the payment of such installments of interest on the Securities of any series (or any Coupons appertaining thereto).

Payments on Securities Permitted. Nothing contained in --------------------------------- this Article XV or elsewhere in this Indenture, Indenture or in any of the Securities (or any Coupons appertaining thereto), shall (ai) affect impair, as between the Company and Holders of Securities, the obligation of the Company to make, or prevent the Company from making, at any time except as provided in the event of any event specified in Section 15.2Sections 14.02, 14.03, 14.08 and 14.09, payments at any time of principal of (or premium, if any, or interest (including interest accruing subsequent to the commencement of any proceeding for the bankruptcy or reorganization of the Company under any applicable bankruptcy, insolvency or similar law now or hereafter in effect) on the Securities, as and when the same shall become due and payable in accordance with the terms of the Securities, (ii) affect the relative rights of the Holders of the Securities and creditors of the Company other than the holders of the Senior Indebtedness of the Company and the creditors in respect of General Obligations, (iii) prevent the Trustee or interestthe Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default thereunder, subject to the rights, if any, on the Securities of any series (or any Coupons appertaining thereto) or of any sinking fund payments with respect to the Securities of any series, or (b) prevent the application by the Trustee or any Paying Agent of any moneys held by the Trustee or such Paying Agent in trust for the benefit under Article Fourteen of the holders of Securities Senior Indebtedness and the creditors in respect of any series (and any Coupons appertaining thereto) as to which notice General Obligations in respect of redemption shall have been mailed cash, property or published at least once prior to the happening of an event specified in paragraph (b) or (c) of Section 15.2 to the payment of or on account securities of the principal Company received upon the exercise of (and premium, if any on) and interest, if any, on such Securities (and any Coupons appertaining thereto)remedy, or (civ) prevent the application by the Trustee or any Paying Agent of any moneys deposited with it hereunder to the payment of or on account of the principal of or premium, if any, or interest on the Securities or prevent the receipt by the Trustee or any Paying Agent of such moneys, if, prior to the happening of any event specified in paragraph (b) or (c) of Section 15.2 with second Business Day prior to such deposit, the Trustee or such Paying Agent in trust for the purpose of paying a specified installment or installments of interest on the Securities did not have written notice of any series (or any Coupons appertaining thereto), to event prohibiting the payment making of such installments of interest on deposit by the Securities of any series (or any Coupons appertaining thereto)Company.