Common use of Reporting Defaults Clause in Contracts

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 XXXXX service (or its successor) nor shall the Trustee have any liability or responsibility for the content of such reports.

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 XXXXX EXXXX service (or its successor) nor shall the Trustee have any liability or responsibility for the filing, timeliness or content of such reports. For avoidance of doubt, for purposes of the foregoing, any failure by the Company to comply with Section 4.2 shall constitute a failure by the Company to comply with Section 4.2.

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 Issuer 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 Issuer with Section 4.2 is continuing on the day that is 60 days following the CompanyIssuer’s receipt of notice of such failure to comply in accordance with Section 6.1(d) (such notice, the “Reports Default Notice”), the Company Issuer 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 CompanyIssuer’s receipt of the Reports Default Notice and (y) the date on which the failure to comply by the Company Issuer 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 Issuer with Section 4.2 shall not have been cured or waived on or before the 121st day following the CompanyIssuer’s receipt of the Reports Default Notice, then the failure to comply by the Company Issuer 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 Issuer 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 XXXXX EXXXX service (or its successor) nor shall the Trustee have any liability or responsibility for the filing, timeliness or content of such reports. For avoidance of doubt, for purposes of the foregoing, any failure by Iron Mountain to comply with Section 4.2 shall constitute a failure by the Issuer to comply with Section 4.2.