Reporting Defaults Sample Clauses
Reporting Defaults. Notwithstanding any other provision of this Indenture, the sole remedy for an Event of Default relating to the failure to comply with the reporting obligations under Section 3.10, will for the 365 days after the occurrence of such an Event of Default consist exclusively, to the extent permitted by applicable law, of the right to receive additional interest on the principal amount of the Notes at a rate equal to 0.50% per annum. This additional interest, if any, will be payable in the same manner and subject to the same terms as other interest payable under this Indenture. This additional interest, if any, will accrue on all outstanding Notes from and including the date on which an Event of Default relating to a failure to comply with the reporting obligations under Section 3.10 first occurs to, but excluding, the 365th day thereafter (or such earlier date on which the Event of Default relating to such reporting obligations is cured or waived). If the Event of Default resulting from such failure to comply with the reporting obligations is continuing on such 365th day, such additional interest will cease to accrue and the Notes will be subject to the other remedies provided under this Article VI.
Reporting Defaults. Notwithstanding Section 6.2, except as provided in the second to last sentence of this paragraph, the sole remedy for any failure to comply by the Company with Section 4.2 shall be the payment of liquidated damages as described in the following sentence, such failure to comply shall not constitute an Event of Default, and Holders shall not have any right to accelerate the maturity of the Notes as a result of any such failure to comply. If a failure to comply by the Company with Section 4.2 is continuing on the day that is 60 days following the Company’s receipt of notice of such failure to comply in accordance with Section 6.1(d) (such notice, the “Reports Default Notice”), the Company will pay liquidated damages to all Holders at a rate per annum equal to 0.25% of the principal amount of the Notes then outstanding from such date to, but not including, the earlier of (x) the 121st day following the Company’s receipt of the Reports Default Notice and (y) the date on which the failure to comply by the Company with Section 4.2 shall have been cured or waived. On the earlier of the dates specified in the immediately preceding clauses (x) and (y), such liquidated damages will cease to accrue. If the failure to comply by the Company with Section 4.2 shall not have been cured or waived on or before the 121st day following the Company’s receipt of the Reports Default Notice, then the failure to comply by the Company with Section 4.2 shall on such 121st day constitute an Event of Default. A failure to comply with Section 4.2 automatically shall cease to be continuing and shall be deemed cured at such time as the Company furnishes to the Trustee the applicable information or report; provided, however, that the Trustee shall have no obligation whatsoever to determine whether or not such information, documents or reports have been filed pursuant to the ▇▇▇▇▇ service (or its successor) nor shall the Trustee have any liability or responsibility for the content of such reports.
Reporting Defaults. (a) Notwithstanding anything to the contrary, the Company may elect that the sole remedy for any Event of Default (a “Reporting Event of Default”) pursuant to Section 9.01(e) arising from the Company’s failure to comply with Section 4.03 will, for each of the first one hundred and eighty (180) calendar days on which a Reporting Event of Default has occurred and is continuing, consist exclusively of the accrual of Special Interest on the Notes. If the Company has made such an election, then the Notes will be subject to acceleration pursuant to Section 9.03 on account of the relevant Reporting Event of Default from, and including, the one hundred and eighty first (181st) calendar day on which a Reporting Event of Default has occurred and is continuing or if the Company fails to pay any accrued and unpaid Special Interest when due.
(b) Any Special Interest that accrues on a Note pursuant to Section 9.02(a) will be payable on the same dates and in the same manner as the Stated Interest on such Note and will accrue at a rate per annum equal to (i) one quarter of one percent (0.25%) of the principal amount thereof for the first one hundred eighty (180) calendar days following the Reporting Event of Default and (ii) one half of one percent (0.50%) thereafter until such Reporting Event of Default shall have been cured; provided, however, that in no event will Special Interest accrue on any day on a Note at a combined rate per annum that exceeds one-half of one percent (0.50%). For the avoidance of doubt, any Special Interest that accrues on a Note will be in addition to the Stated Interest that accrues on such Note.
(c) To make the election set forth in Section 9.02(a), the Company must send to the Holders, before the date on which each Reporting Event of Default first occurs, a written notice that states that the Company is electing that the sole remedy for such Reporting Event of Default consist of the accrual of Special Interest.
Reporting Defaults. 167 ARTICLE VII TRUSTEE SECTION 7.1. Duties of Trustee ............................................................................................167 SECTION 7.2. Rights of Trustee ............................................................................................168 SECTION 7.3. Individual Rights of Trustee ..........................................................................170 SECTION 7.4. Trustee’s Disclaimer ......................................................................................170 SECTION 7.5. Notice of Defaults ..........................................................................................170 SECTION 7.6. [Reserved] ......................................................................................................171 SECTION 7.7. Compensation and Indemnity ........................................................................171 SECTION 7.8. Replacement of Trustee..................................................................................172 SECTION 7.9. Successor Trustee by Merger .........................................................................173 SECTION 7.10. Eligibility; Disqualification ...........................................................................173 SECTION 7.11. [Reserved] ......................................................................................................173 SECTION 7.12. Trustee’s Application for Instruction from the Issuers ...................................173 SECTION 7.13. Collateral Documents; Intercreditor Agreements ..........................................173 ARTICLE VIII