Common use of Remedies for Events of Default Clause in Contracts

Remedies for Events of Default. If an Event of Default, as defined in the Indenture (other than an Event of Default specified in Section 5.01(6) of the Indenture), occurs and is continuing, the Trustee or the Holders of at least 30% in aggregate principal amount of the then total Outstanding Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then Outstanding Notes to be due and payable immediately by a notice in writing to the Issuer (and to the Trustee if given by Holders). Notwithstanding the foregoing, in the case of an Event of Default arising under Section 5.01(6) of the Indenture, all Outstanding Notes will become due and payable without further action or notice. Subject to the provisions of the Indenture relating to the duties of the Trustee, in case an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered indemnity or security against any loss, liability, claim or expense satisfactory to the Trustee. Subject to certain restrictions, the Holders of a majority in principal amount of the Outstanding Notes are given the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may refuse to follow any direction that conflicts with law or the Indenture or that the Trustee determines is unduly prejudicial to the rights of any other Holder of a Note or that would involve the Trustee in personal liability.

Remedies for Events of Default. If an Event of Default, as defined in the Indenture Default (other than an Event of Default specified in Section 5.01(66.01(g) or (h) of the Indenture), Indenture that occurs with respect to the Company or a Subsidiary Guarantor) occurs and is continuingcontinuing under this Indenture, then in every such case the Trustee or the Holders of at least 3025% in aggregate principal amount of the then total Outstanding Notes may Notes, by written notice to the Company (and to the Trustee if such notice is given by the Holders), may, and the Trustee at the written request of such Holders shall, declare the principalprincipal of, premium, if any, and accrued interest and any other monetary obligations on all of the then Outstanding Notes to be immediately due and payable payable. Upon a declaration of acceleration, such principal of, premium, if any, and accrued interest shall be immediately by a notice in writing to the Issuer (due and to the Trustee if given by Holders)payable. Notwithstanding the foregoing, in the case of If an Event of Default arising under specified in Section 5.01(66.01(g) or (h) of the IndentureIndenture occurs with respect to the Company or a Subsidiary Guarantor, all the principal of, premium, if any, and accrued interest on the Outstanding Notes will shall ipso facto become and be immediately due and payable without further action any declaration or notice. Subject to other act on the provisions part of the Indenture relating to the duties of the Trustee, in case an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise or any rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered indemnity or security against any loss, liability, claim or expense satisfactory to the TrusteeHolder. Subject to certain restrictions, the The Holders of at least a majority in aggregate principal amount of the Outstanding Notes are given by written notice to the right Company and to the Trustee, may waive all past defaults and rescind and annul a declaration of acceleration and its consequences if (1) all existing Events of Default, other than the nonpayment of the principal of, premium, if any, and interest on the Notes that have become due solely by such declaration of acceleration, have been cured or waived and (2) the rescission would not conflict with any judgment or decree of a court of competent jurisdiction. Holders may not enforce the Indenture, the Notes or the Subsidiary Guarantees except as provided in the Indenture. The Trustee may require security or indemnity satisfactory to it before it enforces the Indenture, the Notes or the Subsidiary Guarantees. The Holders of at least a majority in aggregate principal amount of the Notes then Outstanding may direct the time, method and place Trustee in the exercise of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on in accordance with the Trustee. The Trustee, however, may refuse to follow any direction that conflicts with law or terms of the Indenture or that the Trustee determines is unduly prejudicial to the rights of any other Holder of a Note or that would involve the Trustee in personal liabilityIndenture.

Remedies for Events of Default. If Subject to Section 502 of the Indenture, if an Event of Default, as defined in the Indenture (other than an Event of Default specified in Section 5.01(6) of the Indenture), occurs and is continuing, the Trustee or the Holders of at least 3025% in aggregate principal amount of the then total Outstanding Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then Outstanding Notes to be immediately due and payable immediately payable, by a notice in writing to the Issuer (and to the Trustee if given by Holders); provided that no such declaration may occur with respect to any action taken, and reported publicly or to Holders, more than two years prior to the date of such declaration. Notwithstanding If a bankruptcy or insolvency default with respect to the foregoingIssuer or any of its Significant Subsidiaries occurs and is continuing, in the case of an Event of Default arising under Section 5.01(6) of the Indenture, all Outstanding Notes will automatically become immediately due and payable without further action or noticepayable. Subject to the provisions of the Indenture relating to the duties of the Trustee, in case an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any rights or powers under the Indenture at the request or direction of any of the Holders of the Notes unless such Holders have offered to the Trustee reasonable security or indemnity or security against any loss, liability, claim liability or expense satisfactory to the Trusteeexpense. Subject to certain restrictions, the Holders of a majority in principal amount of the Outstanding outstanding Notes are given the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or the Notes Collateral Agents or of exercising any trust or power conferred on the TrusteeTrustee or the Notes Collateral Agents. The TrusteeTrustee or the Notes Collateral Agents, however, may refuse to follow any direction that conflicts with law or the Indenture or that the Trustee or the Notes Collateral Agents determines is unduly prejudicial to the rights of any other Holder of a Note or that would involve the Trustee or the Notes Collateral Agents, as applicable, in personal liability.

Remedies for Events of Default. If an Event of Default, as defined in the Indenture (other than an any Event of Default specified in Section 5.01(6) of the Indenture), occurs and is continuing, the Trustee or the Holders of at least 3025% in aggregate of principal amount of the Notes then total Outstanding Notes outstanding may declare the principal, premium, if any, interest and any other monetary obligations on all the then Outstanding Notes to be due and payable immediately by a notice in writing to the Issuer (and to the Trustee if given by Holders)immediately. Notwithstanding the foregoingforegoing sentence, in the case of an Event of Default arising under Section 5.01(6) from certain events of bankruptcy or insolvency, as provided in the Indenture, all Outstanding outstanding Notes will become due and payable immediately without further action or notice. Subject to the provisions of Holders may not enforce the Indenture relating to or the duties of Notes except as provided in the Trustee, in case an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered indemnity or security against any loss, liability, claim or expense satisfactory to the TrusteeIndenture. Subject to certain restrictionslimitations, the Holders holders of a majority in principal amount of the Outstanding then-outstanding Notes are given the right to may direct the timeTrustee of Notes in its exercise of any trust or power. The Trustee may withhold from Holders notice of any continuing Default or Event of Default, method except a Default or Event of Default relating to the payment of principal or interest, if a committee of Responsible Officers of the Trustee determines in good faith that withholding notice is in the interest of the Holders. At any time after declaration of acceleration but before a judgment or decree for the payment of the money due has been obtained by the Trustee, the holders of a majority in aggregate principal amount of Notes then outstanding by written notice to the Company and place the Trustee may waive any existing Default or Event of conducting Default for all Holders, except a continuing Default or Event of Default in the payment of any proceeding for any remedy available principal of, premium, if any, or interest on the Notes or in respect of a covenant or provision of the Indenture which cannot be modified or amended without the consent of the Holder of each outstanding Note affected. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture. In addition, upon becoming aware of any Default or Event of exercising any trust or power conferred on Default, the Trustee. The Trustee, however, may refuse Company is required to follow any direction that conflicts with law or the Indenture or that deliver to the Trustee determines is unduly prejudicial to a statement specifying the rights Default or Event of any other Holder of a Note or that would involve the Trustee in personal liabilityDefault.

Remedies for Events of Default. If an Event of Default, as defined in the Indenture (other than an Event of Default specified in Section 5.01(6) of the Indenture), occurs and is continuing, the Trustee or the Holders of at least 3025% in aggregate principal amount of the then total Outstanding Notes may may, and the Trustee at the request of such Holders shall (subject to being indemnified, secured and/or prefunded to its satisfaction), declare the principal, premium, if any, interest and any other monetary obligations on all the then Outstanding Notes to be immediately due and payable immediately by payable. If a notice in writing bankruptcy or insolvency default with respect to the Issuer (Issuers or Parent occurs and to is continuing, the Trustee if given by Holders). Notwithstanding the foregoing, in the case of an Event of Default arising under Section 5.01(6) of the Indenture, all Outstanding Notes will automatically become immediately due and payable without further action or noticepayable. Subject to the provisions of the Indenture relating to the duties of the Trustee, in case an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any rights or powers under the Indenture at the request or direction of any of the Holders of the Notes unless such Holders have offered indemnity or indemnity, security and/or prefunding against any loss, liability, claim liability or expense satisfactory to the Trustee. Subject to certain restrictions, the Holders of a majority in principal amount of the Outstanding outstanding Notes are given the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may refuse to follow any direction that conflicts with law or the this Indenture or that the Trustee determines is unduly prejudicial to the rights of any other Holder of a Note or that would involve the Trustee in personal liability.

Remedies for Events of Default. If Subject to Section 502 of the Indenture, if an Event of Default, as defined in the Indenture (other than an Event of Default specified in Section 5.01(6) of the Indenture), occurs and is continuing, the Trustee or the Holders of at least 3025% in aggregate principal amount of the then total Outstanding Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then Outstanding Notes to be immediately due and payable immediately payable, by a notice in writing to the Issuer (and to the Trustee if given by Holders); provided that no such declaration may occur with respect to any action taken, and reported publicly or to Holders, more than two years prior to the date of such declaration. Notwithstanding If a bankruptcy or insolvency default with respect to the foregoingIssuer or any of its Significant Subsidiaries occurs and is continuing, in the case of an Event of Default arising under Section 5.01(6) of the Indenture, all Outstanding Notes will automatically become immediately due and payable without further action or noticepayable. Subject to the provisions of the Indenture relating to the duties of the Trustee, in case an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any rights or powers under the Indenture at the request or direction of any of the Holders of the Notes unless such Holders have offered to the Trustee reasonable security or indemnity or security against any loss, liability, claim liability or expense satisfactory to the Trusteeexpense. Subject to certain restrictions, the Holders of a majority in principal amount of the Outstanding outstanding Notes are given the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may refuse to follow any direction that conflicts with law or the Indenture or that the Trustee determines is unduly prejudicial to the rights of any other Holder of a Note or that would involve the Trustee in personal liability.

Remedies for Events of Default. If an Event of Default, as defined in the Indenture (other than an Event of Default specified in Section 5.01(6) of the Indenture), occurs and is continuing, the Trustee or the Holders of at least 30% in aggregate principal amount of the then total Outstanding Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then Outstanding Notes to be due and payable immediately by a notice in writing to the Issuer (and to the Trustee if given by Holders). Notwithstanding the foregoing, in the case of an Event of Default arising under Section 5.01(6) of the Indenture, all Outstanding Notes will become due and payable without further action or notice. Subject to the provisions of the Indenture relating to the duties of the Trustee, in case an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered indemnity or security against any cost, loss, liability, damage, claim or expense satisfactory to the Trustee. Subject to certain restrictions, the Holders of a majority in principal amount of the Outstanding Notes are given the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may refuse to follow any direction that conflicts with law or the Indenture or that the Trustee determines is unduly prejudicial to the rights of any other Holder of a Note or that would involve the Trustee in personal liability.