Rescission and Annulment. The provisions in Section 6.01 are subject to the condition that if, at any time after the principal of the Securities of any one or more of all series, as the case may be, shall have been so declared due and payable, and before any judgment or decree for the payment of the moneys due shall have been obtained or entered as hereinafter provided, the Company shall pay or shall deposit with the Trustee a sum sufficient to pay all matured installments of interest upon all the Securities of such series or of all the Securities, as the case may be, and the principal of (and premium, if any, on) all Securities of such series or of all the Securities, as the case may be (or, with respect to Original Issue Discount Securities, such lesser amount as may be specified in the terms of such Securities), which shall have become due otherwise than by acceleration (with interest upon such principal and premium, if any) and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest, at the same rate as the rate of interest specified in the Securities of such series or all Securities, as the case may be (or, with respect to Original Issue Discount Securities, at the rate specified in the terms of such Securities for interest on overdue principal thereof upon maturity, redemption or acceleration of such series, as the case may be), to the date of such payment or deposit, and such amount as shall be sufficient to cover reasonable compensation to the Trustee, its agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by the Trustee except as a result of its negligence, bad faith or willful misconduct, and any and all defaults under the Indenture, other than the non-payment of the principal of Securities that has become due by acceleration, shall have been remedied; then and in every such case the holders of a majority in aggregate principal amount of the Securities of such series (or of all the Securities, as the case may be) then Outstanding, by written notice to the Company and to the Trustee, may waive all defaults with respect to that series or with respect to all Securities, as the case may be in such case, treated as a single class and rescind and annul such declaration and its consequences; but no such waiver or rescission and annulment shall extend to or shall affect any subsequent default or shall impair any right consequent thereon. In case the Trustee shall have proceeded to enforce any right under this Indenture and such proceedings shall have been discontinued or abandoned because of such rescission and annulment or for any other reason or shall have been determined adversely to the Trustee, then and in every such case the Company, the Trustee and the securityholders, as the case may be, shall be restored respectively to their former positions and rights hereunder, and all rights, remedies and powers of the Company, the Trustee and the securityholders, as the case may be, shall continue as though no such proceedings had been taken.
Appears in 10 contracts
Samples: Subordinated Indenture (NewAmsterdam Pharma Co N.V.), Senior Indenture (NewAmsterdam Pharma Co N.V.), Subordinated Indenture (Summit Financial Group, Inc.)
Rescission and Annulment. The provisions in Section 6.01 are subject to the condition that if, at any time after the principal of the Securities of any one or more of all series, as the case may be, shall have been so declared due and payable, and before any judgment or decree for the payment of the moneys due shall have been obtained or entered as hereinafter provided, the Company shall pay or shall deposit with the Trustee a sum sufficient to pay all matured installments of interest upon all the Securities of such series or of all the Securities, as the case may be, and the principal of (and premium, if any, on) all Securities of such series or of all the Securities, as the case may be (or, with respect to Original Issue Discount Securities, such lesser amount as may be specified in the terms of such Securities), which shall have become due otherwise than by acceleration (with interest upon such principal and premium, if any) and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest, at the same rate as the rate of interest specified in the Securities of such series or all Securities, as the case may be (or, with respect to Original Issue Discount Securities, at the rate specified in the terms of such Securities for interest on overdue principal thereof upon maturity, redemption or acceleration of such series, as the case may be), to the date of such payment or deposit, and such amount as shall be sufficient to cover reasonable compensation to the Trustee, its agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by the Trustee except as a result of its negligence, bad faith negligence or willful misconduct, and any and all defaults under the Indenture, other than the non-payment of the principal of Securities that has become due by acceleration, shall have been remedied; then and in every such case the holders of a majority in aggregate principal amount of the Securities of such series (or of all the Securities, as the case may be) then Outstanding, by written notice to the Company and to the Trustee, may waive all defaults with respect to that series or with respect to all Securities, as the case may be in such case, treated as a single class and rescind and annul such declaration and its consequences; but no such waiver or rescission and annulment shall extend to or shall affect any subsequent default or shall impair any right consequent thereon. In case the Trustee shall have proceeded to enforce any right under this Indenture and such proceedings shall have been discontinued or abandoned because of such rescission and annulment or for any other reason or shall have been determined adversely to the Trustee, then and in every such case the Company, the Trustee and the securityholders, as the case may be, shall be restored respectively to their former positions and rights hereunder, and all rights, remedies and powers of the Company, the Trustee and the securityholders, as the case may be, shall continue as though no such proceedings had been taken.
Appears in 9 contracts
Samples: Subordinated Indenture (Flushing Financial Corp), Subordinated Indenture (Flushing Financial Corp), Subordinated Indenture (Hanmi Financial Corp)
Rescission and Annulment. The provisions in Section 6.01 are subject to the condition that if, at any time after the principal of the Securities of any one or more of all series, as the case may be, shall have been so declared due and payable, and before any judgment or decree for the payment of the moneys due shall have been obtained or entered as hereinafter provided, the Company shall pay or shall deposit with the Trustee a sum sufficient to pay all matured installments of interest upon all the Securities of such series or of all the Securities, as the case may be, and the principal of (and premium, if any, on) all Securities of such series or of all the Securities, as the case may be (or, with respect to Original Issue Discount Securities, such lesser amount as may be specified in the terms of such Securities), which shall have become due otherwise than by acceleration (with interest upon such principal and premium, if any) and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest, at the same rate as the rate of interest specified in the Securities of such series or all Securities, as the case may be (or, with respect to Original Issue Discount Securities, at the rate specified in the terms of such Securities for interest on overdue principal thereof upon maturity, redemption or acceleration of such series, as the case may be), to the date of such payment or deposit, and such amount as shall be sufficient to cover reasonable compensation to the Trustee, its agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by the Trustee except as a result of its negligence, negligence or bad faith or willful misconductfaith, and any and all defaults under the Indenture, other than the non-payment of the principal of Securities that has become due by acceleration, shall have been remedied; then and in every such case the holders of a majority in aggregate principal amount of the Securities of such series (or of all the Securities, as the case may be) then Outstanding, by written notice to the Company and to the Trustee, may waive all defaults with respect to that series or with respect to all Securities, as the case may be in such case, treated as a single class and rescind and annul such declaration and its consequences; but no such waiver or rescission and annulment shall extend to or shall affect any subsequent default or shall impair any right consequent thereon. In case the Trustee shall have proceeded to enforce any right under this Indenture and such proceedings shall have been discontinued or abandoned because of such rescission and annulment or for any other reason or shall have been determined adversely to the Trustee, then and in every such case the Company, the Trustee and the securityholders, as the case may be, shall be restored respectively to their former positions and rights hereunder, and all rights, remedies and powers of the Company, the Trustee and the securityholders, as the case may be, shall continue as though no such proceedings had been taken.
Appears in 6 contracts
Samples: Subordinated Indenture (Veritex Holdings, Inc.), Subordinated Indenture (BCB Bancorp Inc), Subordinated Indenture (Howard Bancorp Inc)
Rescission and Annulment. The provisions in Section 6.01 are subject to the condition that if, at any time after the principal of the Securities of any one or more of all series, as the case may be, shall have been so declared due and payable, and before any judgment or decree for the payment of the moneys due shall have been obtained or entered as hereinafter provided, the Company shall pay or shall deposit with the Trustee a sum sufficient to pay all matured installments of interest upon all the Securities of such series or of all the Securities, as the case may be, and the principal of (and premium, if any, on) all Securities of such series or of all the Securities, as the case may be (or, with respect to Original Issue Discount Securities, such lesser amount as may be specified in the terms of such Securities), which shall have become due otherwise than by acceleration (with interest upon such principal and premium, if any) and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest, at the same rate as the rate of interest specified in the Securities of such series or all Securities, as the case may be (or, with respect to Original Issue Discount Securities, at the rate specified in the terms of such Securities for interest on overdue principal thereof upon maturity, redemption or acceleration of such series, as the case may be), to the date of such payment or deposit, and such amount as shall be sufficient to cover reasonable compensation to the Trustee, its agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by the Trustee except as a result of its negligence, bad faith gross negligence or willful misconduct, and any and all defaults under the Indenture, other than the non-payment of the principal of Securities that has become due by acceleration, shall have been remedied; then and in every such case the holders of a majority in aggregate principal amount of the Securities of such series (or of all the Securities, as the case may be) then Outstanding, by written notice to the Company and to the Trustee, may waive all defaults with respect to that series or with respect to all Securities, as the case may be in such case, treated as a single class and rescind and annul such declaration and its consequences; but no such waiver or rescission and annulment shall extend to or shall affect any subsequent default or shall impair any right consequent thereon. In case the Trustee shall have proceeded to enforce any right under this Indenture and such proceedings shall have been discontinued or abandoned because of such rescission and annulment or for any other reason or shall have been determined adversely to the Trustee, then and in every such case the Company, the Trustee and the securityholders, as the case may be, shall be restored respectively to their former positions and rights hereunder, and all rights, remedies and powers of the Company, the Trustee and the securityholders, as the case may be, shall continue as though no such proceedings had been taken.
Appears in 4 contracts
Samples: Subordinated Indenture (Amalgamated Financial Corp.), Subordinated Indenture (Simmons First National Corp), Senior Indenture (Simmons First National Corp)
Rescission and Annulment. The provisions in Section 6.01 are subject to the condition that if, at any time after the principal of the Securities of any one or more of all series, as the case may be, shall have been so declared due and payable, and before any judgment or decree for the payment of the moneys due shall have been obtained or entered as hereinafter provided, the Company shall pay or shall deposit with the Trustee a sum sufficient to pay all matured installments of interest upon all the Securities of such series or of all the Securities, as the case may be, and the principal of (and premium, if any, on) all Securities of such series or of all the Securities, as the case may be (or, with respect to Original Issue Discount Securities, such lesser amount as may be specified in the terms of such Securities), which shall have become due otherwise than by acceleration (with interest upon such principal and premium, if any) and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest, at the same rate as the rate of interest specified in the Securities of such series or all Securities, as the case may be (or, with respect to Original Issue Discount Securities, at the rate specified in the terms of such Securities for interest on overdue principal thereof upon maturity, redemption or acceleration of such series, as the case may be), to the date of such payment or deposit, and such amount as shall be sufficient to cover reasonable compensation to the Trustee, its agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by the Trustee except as a result of its negligence, negligence or bad faith or willful misconductfaith, and any and all defaults under the Indenture, other than the non-payment of the principal of Securities that has Securities, which shall have become due by acceleration, shall have been remedied; then and in every such case the holders of a majority in aggregate principal amount of the Securities of such series (or of all the Securities, as the case may be) then Outstanding, by written notice to the Company and to the Trustee, may waive all defaults with respect to that series or with respect to all Securities, as the case may be in such case, treated as a single class and rescind and annul such declaration and its consequences; but no such waiver or rescission and annulment shall extend to or shall affect any subsequent default or shall impair any right consequent thereon. In case the Trustee shall have proceeded to enforce any right under this Indenture and such proceedings shall have been discontinued or abandoned because of such rescission and annulment or for any other reason or shall have been determined adversely to the Trustee, then and in every such case the Company, the Trustee and the securityholders, as the case may be, shall be restored respectively to their former positions and rights hereunder, and all rights, remedies and powers of the Company, the Trustee and the securityholders, as the case may be, shall continue as though no such proceedings had been taken.
Appears in 3 contracts
Samples: Indenture (Citizens & Northern Corp), Indenture (Citizens & Northern Corp), Indenture (Raymond James Financial Inc)
Rescission and Annulment. The provisions in Section 6.01 are subject to the condition that if, at At any time after the principal a declaration of acceleration of the Securities of any one or more of all seriesSenior Notes has been made, as the case may be, shall have been so declared due and payable, and but before any a judgment or decree for the of payment of the moneys money due shall have has been obtained or entered as hereinafter providedby the Trustee, the Company shall pay Required Holders of at least a majority in aggregate principal amount of the then Outstanding Senior Notes, by written notice to the Issuer and the Trustee, may rescind and annul such declaration and its consequences, but only if:
(1) the Issuer has paid or shall deposit deposited with the Trustee a sum sufficient to pay (a) all matured installments of interest upon all sums paid or advanced by the Securities of such series or of all the Securities, as the case may be, Trustee under this Indenture and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, (b) all overdue interest on all Senior Notes then Outstanding, (c) the principal of (of, and premium, if any, on) all Securities of such series or of all the Securitiesand Additional Amounts, as the case may be (orif any, with respect to Original Issue Discount Securities, such lesser amount as may be specified in the terms of such Securities), on any Senior Notes then Outstanding which shall have become due otherwise than by such declaration of acceleration and interest thereon at the rate borne by the Senior Notes, and (with interest upon such principal and premium, if anyd) and, to the extent that payment of such interest is enforceable under applicable lawlawful, on interest upon overdue installments of interest, interest at the same rate as Default Rate;
(2) the rate rescission would not conflict with any judgment or decree of interest specified in the Securities a court of such series or competent jurisdiction; and
(3) all Securities, as the case may be (or, with respect to Original Issue Discount Securities, at the rate specified in the terms Events of such Securities for interest on overdue principal thereof upon maturity, redemption or acceleration of such series, as the case may be), to the date of such payment or deposit, and such amount as shall be sufficient to cover reasonable compensation to the Trustee, its agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by the Trustee except as a result of its negligence, bad faith or willful misconduct, and any and all defaults under the IndentureDefault, other than the non-payment of principal of, premium, if any, and interest and Additional Amounts, if any, on the principal of Securities that has Senior Notes which have become due solely by such declaration of acceleration, shall have been remedied; then and cured or waived as provided in every this Indenture. No such case the holders of a majority in aggregate principal amount of the Securities of such series (or of all the Securities, as the case may be) then Outstanding, by written notice to the Company and to the Trustee, may waive all defaults with respect to that series or with respect to all Securities, as the case may be in such case, treated as a single class and rescind and annul such declaration and its consequences; but no such waiver or rescission and annulment shall extend to or shall affect any subsequent default Default or shall impair any right consequent thereon. In case the Trustee shall have proceeded to enforce any right under this Indenture and such proceedings shall have been discontinued or abandoned because of such rescission and annulment or for any other reason or shall have been determined adversely to the Trustee, then and in every such case the Company, the Trustee and the securityholders, as the case may be, shall be restored respectively to their former positions and rights hereunder, and all rights, remedies and powers of the Company, the Trustee and the securityholders, as the case may be, shall continue as though no such proceedings had been taken.
Appears in 2 contracts
Samples: Indenture (Marconi Corp PLC), Indenture (Marconi Corp PLC)
Rescission and Annulment. The provisions in Section 6.01 are subject to the condition that if, at any time after the principal of the Securities of any one or more of all series, as the case may be, shall have been so declared due and payable, and before any judgment or decree for the payment of the moneys due shall have been obtained or entered as hereinafter provided, the Company shall pay or shall deposit with the Trustee a sum sufficient to pay all matured installments of interest upon all the Securities of such series or of all the Securities, as the case may be, and the principal of (and premium, if any, on) all the Securities of such series or of all the Securities, as the case may be (or, with respect to Original Issue Discount Securities, such lesser amount as may be specified in the terms of such Securities), which shall have become due otherwise than by acceleration (with interest upon such principal and premium, if any) and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest, at the same rate as the rate of interest specified in the Securities of such series or all the Securities, as the case may be (or, with respect to Original Issue Discount Securities, at the rate specified in the terms of such Securities for interest on overdue principal thereof upon maturity, redemption or acceleration of such series, as the case may be), to the date of such payment or deposit, and such amount as shall be sufficient to cover reasonable compensation to the Trustee, its agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by the Trustee except as a result of its negligence, negligence or bad faith or willful misconductfaith, and any and all defaults under the Indenture, other than the non-payment of the principal of Securities that has the Securities, which shall have become due by acceleration, shall have been remedied; then and in every such case the holders of a majority in aggregate principal amount of the Securities of such series (or of all the Securities, as the case may be) then Outstanding, by written notice to the Company and to the Trustee, may waive all defaults with respect to that series or with respect to all the Securities, as the case may be in such case, treated as a single class and rescind and annul such declaration and its consequences; but no such waiver or rescission and annulment shall extend to or shall affect any subsequent default or shall impair any right consequent thereon. In case the Trustee shall have proceeded to enforce any right under this Indenture and such proceedings shall have been discontinued or abandoned because of such rescission and annulment or for any other reason or shall have been determined adversely to the Trustee, then and in every such case the Company, the Trustee and the securityholders, as the case may be, shall be restored respectively to their former positions and rights hereunder, and all rights, remedies and powers of the Company, the Trustee and the securityholders, as the case may be, shall continue as though no such proceedings had been taken.
Appears in 2 contracts
Samples: Indenture (Biomimetic Therapeutics, Inc.), Indenture (Biomimetic Therapeutics, Inc.)
Rescission and Annulment. The provisions in Section 6.01 are subject to the condition that if, at (i) At any time after the principal such declaration of the Securities of any one or more of all series, as the case may be, shall have acceleration has been so declared due and payable, made and before any a judgment or decree for the payment of the moneys money due shall have has been obtained or entered as hereinafter providedby the Noteholders, the Required Noteholders, by written notice to Company, may rescind and annul such declaration and its consequences if:
(A) Company shall pay has paid or shall deposit deposited with the Trustee Noteholders, in Dollars, a sum sufficient to pay pay:
(1) all matured installments of overdue interest upon all on the Securities of such series or of all the Securities, as the case may be, and Note;
(2) the principal of (and premium, if any, on) all Securities of such series or of all the Securities, as the case may be (or, with respect to Original Issue Discount Securities, such lesser amount as may be specified in the terms of such Securities), Note which shall have become due otherwise other than by such declaration of acceleration and interest thereon at the rate set forth in the Note;
(with interest upon such principal and premium, if any3) and, to the extent that payment of such interest is enforceable under applicable lawlawful, on interest upon overdue installments of interest, at the same rate as the rate of interest specified in the Securities of such series or all Securities, as the case may be (or, with respect to Original Issue Discount Securities, at the rate specified set forth in the terms Note;
(4) any other amount which has become due hereunder, under the Note or any Ancillary Documents other than by such declaration of acceleration and interest applicable thereon; and
(5) all sums paid or advanced by each such Securities for interest on overdue principal thereof upon maturityNoteholder and the reasonable compensation, redemption or acceleration expenses, disbursements and advances of each such series, as the case may be), to the date of such payment or deposit, and such amount as shall be sufficient to cover reasonable compensation to the TrusteeNoteholder, its agents, attorneys and counsel, and ; and
(B) all other expenses and liabilities incurred, and all advances made, by the Trustee except as a result Events of its negligence, bad faith or willful misconduct, and any and all defaults under the IndentureDefault, other than the non-payment of the principal of Securities that has the Note which have become due solely by such declaration of acceleration, shall have been remedied; then and in every cured or waived. No such case the holders of a majority in aggregate principal amount of the Securities of such series (or of all the Securities, as the case may be) then Outstanding, by written notice to the Company and to the Trustee, may waive all defaults with respect to that series or with respect to all Securities, as the case may be in such case, treated as a single class and rescind and annul such declaration and its consequences; but no such waiver or rescission and annulment shall extend to or shall affect any subsequent default Default or shall impair any right consequent thereon. In case .
(ii) Notwithstanding the Trustee preceding paragraph, in the event of a declaration of acceleration in respect of the Note because an Event of Default specified in Section 7.1(c) or 7.1(g) shall have proceeded to enforce any right under this Indenture occurred and be continuing, such proceedings declaration of acceleration shall have been discontinued or abandoned because be automatically annulled if the Debt that is the subject of such rescission Event of Default has been discharged or paid in full or if the holders thereof have rescinded their declaration of acceleration in respect of such Debt or have rescinded their notification to sell or dispose of the Assets of Company or its Subsidiaries, as applicable, and annulment written notice of such discharge, payment, or for any other reason or shall have been determined adversely to the Trustee, then and in every such case the Company, the Trustee and the securityholdersrescission, as the case may be, shall be restored respectively have been given to their former positions and rights hereunder, and all rights, remedies and powers each of the Company, Noteholders by Company and by the Trustee holders of such Debt or by a Representative for such holders within thirty (30) calendar days after such declaration of acceleration in respect of the Note and prior to the securityholders, as the case may be, shall continue as though sale or other disposition of any Assets of Company or its Subsidiaries and no other Event of Default has occurred during such proceedings had thirty (30) calendar day period which has not been takencured or waived during such period.
Appears in 2 contracts
Samples: Note Purchase Agreement (Interpool Inc), Note Issuance Agreement (Interpool Inc)
Rescission and Annulment. If one or more Events of Default shall have occurred and be continuing (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body), then, and in each and every such case (other than an Event of Default specified in Section 6.01(i) or Section 6.01(j) with respect to the Company or any of its Significant Subsidiaries), unless the principal of all of the Notes shall have already become due and payable, either the Trustee or the Holders of not less than 25.00% in aggregate principal amount of the Notes then outstanding, by notice in writing to the Company (and to the Trustee if given by Holders), may (and the Trustee, at the written request of such Holders, shall) declare 100.00% of the principal of, premium, if any, of and accrued and unpaid interest on, all the Notes to be due and payable immediately, and upon any such declaration the same shall become and shall automatically be immediately due and payable, anything contained in this Indenture or in the Notes to the contrary notwithstanding. If an Event of Default specified in Section 6.01(i) or Section 6.01(j) with respect to the Company or any of its Significant Subsidiaries occurs and is continuing, 100.00% of the principal of, and accrued and unpaid interest, if any, on, all Notes shall become and shall automatically be immediately due and payable. The provisions in Section 6.01 are immediately preceding paragraph, however, is subject to the condition conditions that if, at any time after the principal or interest of the Securities of any one or more of all series, as the case may be, Notes shall have been so declared due and payable, and before any judgment or decree for the payment of the moneys monies due shall have been obtained or entered as hereinafter provided, the Company shall pay or shall deposit with the Trustee a sum sufficient to pay all matured installments of accrued and unpaid interest upon all the Securities of such series or of all the Securities, as the case may be, Notes and the principal of (any and premium, if any, on) all Securities of such series or of all the Securities, as the case may be (or, with respect to Original Issue Discount Securities, such lesser amount as may be specified in the terms of such Securities), which Notes that shall have become due otherwise than by acceleration (with interest upon such principal on overdue installments of accrued and premium, if any) and, unpaid interest to the extent that payment of such interest is enforceable under applicable law, and on overdue installments of interest, at the same rate as the rate of interest specified in the Securities of such series or all Securities, as the case may be (or, with respect to Original Issue Discount Securities, principal at the rate specified in borne by the terms of Notes at such Securities for interest on overdue principal thereof upon maturitytime, redemption or acceleration of such series, as the case may be), plus one percent) and amounts due to the date of such payment or depositTrustee and Collateral Agent pursuant to Section 7.06, and such amount as shall be sufficient to cover reasonable compensation to the Trustee, its agents, attorneys if (1) rescission would not conflict with any judgment or decree of a court of competent jurisdiction and counsel, and all other expenses and liabilities incurred, and all advances made, by the Trustee except as a result of its negligence, bad faith or willful misconduct, and (2) any and all defaults existing Events of Default under the this Indenture, other than the non-payment nonpayment of the principal of Securities and accrued and unpaid interest, if any, on Notes that has shall have become due solely by such acceleration, shall have been remedied; cured or waived pursuant to Section 6.09 and amounts due to the Trustee or the Collateral Agent pursuant to Section 7.06 have been paid, then and in every such case (except as provided in the holders immediately succeeding sentence) the Holders of a majority in aggregate principal amount of the Securities of such series (or of all the Securities, as the case may be) Notes then Outstandingoutstanding, by written notice to the Company and to the Trustee, may waive all defaults Defaults or Events of Default with respect to that series or with respect to all Securities, as the case may be in such case, treated as a single class Notes and rescind and annul such declaration and its consequencesconsequences and such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver or rescission and annulment shall extend to or shall affect any subsequent default Default or Event of Default, or shall impair any right consequent thereon. In case Notwithstanding anything to the Trustee shall have proceeded to enforce any right under this Indenture and contrary herein, no such proceedings shall have been discontinued waiver or abandoned because of such rescission and annulment or for any other reason shall extend to or shall have been determined adversely to affect any Default or Event of Default resulting from (i) the Trustee, then and in every such case nonpayment of the Companyprincipal (including the Redemption Price, the Trustee Repurchase Price, the Asset Sale Offer Repurchase Price and the securityholdersFundamental Change Repurchase Price, if applicable) of, or accrued and unpaid interest on, any Notes, (ii) a failure to repurchase any Notes when required or (iii) a failure to pay or deliver, as the case may be, shall be restored respectively to their former positions and rights hereunder, and all rights, remedies and powers the consideration due upon conversion of the Company, the Trustee and the securityholders, as the case may be, shall continue as though no such proceedings had been takenNotes.
Appears in 2 contracts
Samples: Indenture (Porch Group, Inc.), Subscription Agreement (Porch Group, Inc.)
Rescission and Annulment. The provisions in Section 6.01 are subject to the condition that if, at At any time after the principal a declaration of acceleration of the Securities of any one or more of all seriesJunior Notes has been made, as the case may be, shall have been so declared due and payable, and but before any a judgment or decree for the of payment of the moneys money due shall have has been obtained or entered as hereinafter providedby the Trustee, the Company shall pay Required Holders of at least a majority in aggregate principal amount of the then Outstanding Junior Notes, by written notice to the Issuer and the Trustee, may rescind and annul such declaration and its consequences, but only if:
(1) the Issuer has paid or shall deposit deposited with the Trustee a sum sufficient to pay (a) all matured installments of interest upon all sums paid or advanced by the Securities of such series or of all the Securities, as the case may be, Trustee under this Indenture and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, (b) all overdue interest on all Junior Notes then Outstanding, (c) the principal of (of, and premium, if any, on) all Securities of such series or of all the Securitiesand Additional Amounts, as the case may be (orif any, with respect to Original Issue Discount Securities, such lesser amount as may be specified in the terms of such Securities), on any Junior Notes then Outstanding which shall have become due otherwise than by such declaration of acceleration and interest thereon at the rate borne by the Junior Notes, and (with interest upon such principal and premium, if anyd) and, to the extent that payment of such interest is enforceable under applicable lawlawful, on interest upon overdue installments of interest, interest at the same rate as Default Rate;
(2) the rate rescission would not conflict with any judgment or decree of interest specified in the Securities a court of such series or competent jurisdiction; and
(3) all Securities, as the case may be (or, with respect to Original Issue Discount Securities, at the rate specified in the terms Events of such Securities for interest on overdue principal thereof upon maturity, redemption or acceleration of such series, as the case may be), to the date of such payment or deposit, and such amount as shall be sufficient to cover reasonable compensation to the Trustee, its agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by the Trustee except as a result of its negligence, bad faith or willful misconduct, and any and all defaults under the IndentureDefault, other than the non-payment of principal of, premium, if any, and interest and Additional Amounts, if any, on the principal of Securities that has Junior Notes which have become due solely by such declaration of acceleration, shall have been remedied; then and cured or waived as provided in every this Indenture. No such case the holders of a majority in aggregate principal amount of the Securities of such series (or of all the Securities, as the case may be) then Outstanding, by written notice to the Company and to the Trustee, may waive all defaults with respect to that series or with respect to all Securities, as the case may be in such case, treated as a single class and rescind and annul such declaration and its consequences; but no such waiver or rescission and annulment shall extend to or shall affect any subsequent default Default or shall impair any right consequent thereon. In case the Trustee shall have proceeded to enforce any right under this Indenture and such proceedings shall have been discontinued or abandoned because of such rescission and annulment or for any other reason or shall have been determined adversely to the Trustee, then and in every such case the Company, the Trustee and the securityholders, as the case may be, shall be restored respectively to their former positions and rights hereunder, and all rights, remedies and powers of the Company, the Trustee and the securityholders, as the case may be, shall continue as though no such proceedings had been taken.
Appears in 2 contracts
Samples: Indenture (Marconi Corp PLC), Indenture (Marconi Corp PLC)
Rescission and Annulment. The provisions After a declaration of acceleration of the Maturity Date with respect to Securities as provided in Section 6.01 are subject to the condition that if5.02 – Acceleration of Maturity Date hereof, at any time after the principal of the Securities of any one or more of all series, as the case may be, shall have been so declared due and payable, and but before any a judgment or decree for the payment of the moneys money due shall have has been obtained or entered by the Trustee as hereinafter herein below in this Article provided, the Company Holders of not less than a majority in aggregate principal amount of the Securities then Outstanding shall pay have the power exercisable by the Act of such Holders to, by written notice to the Corporation and the Trustees, direct the Trustees to rescind and annul the default or shall deposit with cancel the declaration made by a Trustee, or to both rescind and annul such default and cancel such declaration, and the Trustee shall thereupon rescind and annul the default or cancel the declaration or do both, and cancel the consequences thereof if:
(a) the Corporation has paid or deposited with a Trustee (to an account specified by such Trustee) a sum sufficient to pay pay:
(i) all matured installments of overdue interest upon and Additional Amounts on all the Securities of such series or of all the Securities, as the case may be, and then Outstanding,
(ii) the principal of (and premium, if any, on) all on any Securities of such series or of all the Securities, as the case may be (or, with respect to Original Issue Discount Securities, such lesser amount as may be specified in the terms of such Securities), then Outstanding which shall have become due otherwise than by such declaration of acceleration and any interest thereon at the rate prescribed therefor in the Securities, and
(with interest upon such principal and premium, if anyiii) and, to the extent that payment of such interest is enforceable under applicable lawlawful, on interest upon overdue installments of interest, at the same rate as the rate of interest specified in the Securities of such series or all Securities, as the case may be (or, with respect to Original Issue Discount Securities, at the rate specified therefor in the terms Securities; and
(b) all Events of such Securities for interest on overdue principal thereof upon maturity, redemption or acceleration of such series, as the case may be), Default with respect to the date of such payment or deposit, and such amount as shall be sufficient to cover reasonable compensation to the Trustee, its agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by the Trustee except as a result of its negligence, bad faith or willful misconduct, and any and all defaults under the IndentureSecurities, other than the non-payment of the principal of of, premium, if any, and Additional Amounts and interest on the Securities that which has become due solely by such declaration of acceleration, shall have been remedied; then and in every such case the holders of a majority in aggregate principal amount of the Securities of such series (cured or of all the Securities, waived as the case may be) then Outstanding, by written notice to the Company and to the Trustee, may waive all defaults with respect to that series or with respect to all Securities, as the case may be in such case, treated as a single class and rescind and annul such declaration and its consequences; but no such waiver or rescission and annulment shall extend to or shall affect any subsequent default or shall impair any right consequent thereon. In case the Trustee shall have proceeded to enforce any right under this Indenture and such proceedings shall have been discontinued or abandoned because of such rescission and annulment or for any other reason or shall have been determined adversely to the Trustee, then and in every such case the Company, the Trustee and the securityholders, as the case may be, shall be restored respectively to their former positions and rights hereunder, and all rights, remedies and powers of the Company, the Trustee and the securityholders, as the case may be, shall continue as though no such proceedings had been taken.provided herein;
Appears in 2 contracts
Rescission and Annulment. The provisions in Section 6.01 are subject to the condition that if, at any time after the principal of the Securities Notes of any one or more of all series, as the case may be, shall have been so declared due and payable, and before any judgment or decree for the payment of the moneys due shall have been obtained or entered as hereinafter provided, the Company shall pay or shall deposit with the Trustee a sum sufficient to pay all matured installments of interest upon all the Securities Notes of such series or of all the SecuritiesNotes, as the case may be, and the principal of (and premium, if any, on) all Securities Notes of such series or of all the SecuritiesNotes, as the case may be (or, with respect to Original Issue Discount SecuritiesNotes, such lesser amount as may be specified in the terms of such SecuritiesNotes), which shall have become due otherwise than by acceleration (with interest upon such principal (and premium, if any)) and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest, at the same rate as the rate of interest specified in the Securities Notes of such series or all SecuritiesNotes, as the case may be (or, with respect to Original Issue Discount SecuritiesNotes, at the rate specified in the terms of such Securities Notes for interest on overdue principal thereof upon maturity, redemption or acceleration of such series, as the case may be), to the date of such payment or deposit, and such amount as shall be sufficient to cover reasonable compensation to the Trustee, its agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by the Trustee except as a result of its negligence, negligence or bad faith or willful misconductfaith, and any and all defaults under the Indenture, other than the non-non- payment of the principal of Securities that has Notes, which shall have become due by acceleration, shall have been remedied; then and in every such case the holders of a majority in aggregate principal amount of the Securities Notes of such series (or of all the SecuritiesNotes, as the case may be) then Outstanding, by written notice to the Company and to the Trustee, may waive all defaults with respect to that series or with respect to all SecuritiesNotes, as the case may be in such case, treated as a single class and rescind and annul such declaration and its consequences; but no such waiver or rescission and annulment shall extend to or shall affect any subsequent default or shall impair any right consequent thereon. In case the Trustee shall have proceeded to enforce any right under this Indenture and such proceedings shall have been discontinued or abandoned because of such rescission and annulment or for any other reason or shall have been determined adversely to the Trustee, then and in every such case the Company, the Trustee and the securityholdersnoteholders, as the case may be, shall be restored respectively to their former positions and rights hereunder, and all rights, remedies and powers of the Company, the Trustee and the securityholdersnoteholders, as the case may be, shall continue as though no such proceedings had been taken.
Appears in 2 contracts
Samples: Indenture (Bank of America Corp /De/), Restated Indenture (Bank of America Corp /De/)
Rescission and Annulment. The provisions in Section 6.01 are subject to the condition that if, at any time after the principal of the Securities of any one or more of all series, as the case may be, shall have been so declared due and payable, and before any judgment or decree for the payment of the moneys due shall have been obtained or entered as hereinafter provided, the Company shall pay or shall deposit with the Trustee a sum sufficient to pay all matured installments of interest upon all the Securities of such series or of all the Securities, as the case may be, and the principal of (and premium, if any, on) all Securities of such series or of all the Securities, as the case may be (or, with respect to Original Issue Discount Securities, such lesser amount as may be specified in the terms of such Securities), which shall have become due otherwise than by acceleration (with interest upon such principal and premium, if any) and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest, at the same rate as the rate of interest specified in the Securities of such series or all Securities, as the case may be (or, with respect to Original Issue Discount Securities, at the rate specified in the terms of such Securities for interest on overdue principal thereof upon maturity, redemption or acceleration of such series, as the case may be), to the date of such payment or deposit, and such amount as shall be sufficient to cover reasonable compensation to the Trustee, its agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by the Trustee except as a result of its negligence, bad faith gross negligence or willful misconduct, and any and all defaults under the Indenture, other than the non-payment of the principal of Securities that has Securities, which shall have become due by acceleration, shall have been remedied; then and in every such case the holders of a majority in aggregate principal amount of the Securities of such series (or of all the Securities, as the case may be) then Outstanding, by written notice to the Company and to the Trustee, may waive all defaults with respect to that series or with respect to all Securities, as the case may be in such case, treated as a single class and rescind and annul such declaration and its consequences; but no such waiver or rescission and annulment shall extend to or shall affect any subsequent default or shall impair any right consequent thereon. In case the Trustee shall have proceeded to enforce any right under this Indenture and such proceedings shall have been discontinued or abandoned because of such rescission and annulment or for any other reason or shall have been determined adversely to the Trustee, then and in every such case the Company, the Trustee and the securityholders, as the case may be, shall be restored respectively to their former positions and rights hereunder, and all rights, remedies and powers of the Company, the Trustee and the securityholders, as the case may be, shall continue as though no such proceedings had been taken.
Appears in 1 contract
Samples: Indenture (Chemours Co)
Rescission and Annulment. The provisions If an Event of Default described in paragraph (1), (2), (3), (4) or (7) (if the Event of Default under paragraph (4) or (7) is with respect to less than all series of Securities then Outstanding) of Section 6.01 are subject 501 occurs and is continuing with respect to the condition that ifany series, at any time after then and in each and every such case, unless the principal of the Securities of any one or more of all series, as the case may be, shall have been so declared due and payable, and before any judgment or decree for the payment of the moneys due shall have been obtained or entered as hereinafter provided, the Company shall pay or shall deposit with the Trustee a sum sufficient to pay all matured installments of interest upon all the Securities of such series or of all the Securities, as the case may be, and the principal of (and premium, if any, on) all Securities of such series or of all the Securities, as the case may be (or, with respect to Original Issue Discount Securities, such lesser amount as may be specified in the terms of such Securities), which shall have already become due otherwise than by acceleration (with interest upon such principal and premiumpayable, if any) and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest, at the same rate as the rate of interest specified in the Securities of such series or all Securities, as the case may be (or, with respect to Original Issue Discount Securities, at the rate specified in the terms of such Securities for interest on overdue principal thereof upon maturity, redemption or acceleration of such series, as the case may be), to the date of such payment or deposit, and such amount as shall be sufficient to cover reasonable compensation to the Trustee, its agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by either the Trustee except as a result or the Holders of its negligence, bad faith or willful misconduct, and any and all defaults under the Indenture, other not less than the non-payment of the principal of Securities that has become due by acceleration, shall have been remedied; then and in every such case the holders of a majority 25% in aggregate principal amount of the Securities of such series then Outstanding hereunder (or each such series acting as a separate class), by notice in writing to the Company (and to the Trustee if given by Holders), may declare the principal amount (or, if the Securities of such series are Original Issue Discount Securities, such portion of the principal amount as may be specified in the terms of that series) of all the Securities of such series then Outstanding and all accrued interest thereon to be due and payable immediately, and upon any such declaration the same shall become and shall be immediately due and payable, anything in this Indenture or in the Securities of such series contained to the contrary notwithstanding. If an Event of Default described in paragraph (4) or (7) (if the Event of Default under paragraph (4) or (7) is with respect to all series of Securities then Outstanding), (5) or (6) of Section 501 occurs and is continuing, then and in each and every such case, unless the principal of all the Securities shall have already become due and payable, either the Trustee or the Holders of not less than 25% in aggregate principal amount of all the Securities then Outstanding hereunder (treated as one class), by notice in writing to the Company (and to the Trustee if given by Holders), may declare the principal amount (or, if any Securities are Original Issue Discount Securities, such portion of the principal amount as may be specified in the terms thereof) of all the Securities then Outstanding and all accrued interest thereon to be due and payable immediately, and upon any such declaration the same shall become and shall be immediately due and payable, anything in this Indenture or in the Securities contained to the contrary notwithstanding. At any time after such a declaration of acceleration has been made with respect to the Securities of any series and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of such series (subject to, in the case of any series of Securities held as trust assets of a CCCI Capital Trust and with respect to which a Security Exchange has not theretofore occurred, such consent of the holders of the Preferred 48 40 Securities and the Common Securities of such CCCI Capital Trust as may be) then Outstandingbe required under the Declaration of Trust of such CCCI Capital Trust), by written notice to the Company and to the Trustee, may waive all defaults with respect to that series or with respect to all Securities, as the case may be in such case, treated as a single class and rescind and annul such declaration and its consequences; but no such waiver or rescission and annulment shall extend to or shall affect any subsequent default or shall impair any right consequent thereon. In case the Trustee shall have proceeded to enforce any right under this Indenture and such proceedings shall have been discontinued or abandoned because of such rescission and annulment or for any other reason or shall have been determined adversely to the Trustee, then and in every such case the Company, the Trustee and the securityholders, as the case may be, shall be restored respectively to their former positions and rights hereunder, and all rights, remedies and powers of the Company, the Trustee and the securityholders, as the case may be, shall continue as though no such proceedings had been taken.consequences if
Appears in 1 contract
Samples: Junior Subordinated Indenture (Ccci Capital Trust Iii)
Rescission and Annulment. The provisions in Section 6.01 are subject to the condition that if, at any time after the principal of the Securities of any one or more of all series, as the case may be, shall have been so declared due and payable, and before any judgment or decree for the payment of the moneys due shall have been obtained or entered as hereinafter provided, the Company shall pay or shall deposit with the Trustee a sum sufficient to pay all matured installments of accrued and unpaid interest upon all the Securities of such series or of all the Securities, as the case may be, and the principal of (and premium, if any, on) all Securities of such series or of all the Securities, as the case may be (or, with respect to Original Issue Discount Securities, such lesser amount as may be specified in the terms of such Securities), which shall have become due otherwise than by acceleration (with interest upon such principal and premium, if any) and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest, at the same rate as the rate of interest specified in the Securities of such series or all Securities, as the case may be (or, with respect to Original Issue Discount Securities, at the rate specified in the terms of such Securities for interest on overdue principal thereof upon maturity, redemption or acceleration of such series, as the case may be), to the date of such payment or deposit, and such amount as shall be sufficient to cover reasonable compensation to the Trustee, its agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by the Trustee except as a result of its negligence, bad faith negligence or willful misconduct, and any and all defaults under the Indenture, other than the non-payment of the principal of Securities that has become due by acceleration, shall have been remedied; then and in every such case the holders of a majority in aggregate principal amount of the Securities of such series (or of all the Securities, as the case may be) then Outstanding, by written notice to the Company and to the Trustee, may waive all defaults with respect to that series or with respect to all Securities, as the case may be in such case, treated as a single class and rescind and annul such declaration and its consequences; but no such waiver or rescission and annulment shall extend to or shall affect any subsequent default or shall impair any right consequent thereon. In case the Trustee shall have proceeded to enforce any right under this Indenture and such proceedings shall have been discontinued or abandoned because of such rescission and annulment or for any other reason or shall have been determined adversely to the Trustee, then and in every such case the Company, the Trustee and the securityholders, as the case may be, shall be restored respectively to their former positions and rights hereunder, and all rights, remedies and powers of the Company, the Trustee and the securityholders, as the case may be, shall continue as though no such proceedings had been taken.
Appears in 1 contract
Rescission and Annulment. The Except as may otherwise be provided pursuant to Section 2.03(b) for all or any particular Securities of any series, the provisions in Section 6.01 are subject to the condition that ifthat, if at any time after the principal of the Securities of to which any one or more Events of all series, as the case may be, Default are applicable shall have been so declared due and payable, and before any judgment or decree for the payment of the moneys money due shall have been obtained or entered as hereinafter provided, the Company shall pay or shall deposit with the Trustee a sum of money sufficient to pay all matured installments of interest upon or other amounts due on all the such Securities of such series or of all the Securities, as the case may be, and the principal of (and premium, if any, on) all Securities of such series or of all the Securities, as the case may be (or, with respect to Original Issue Discount Securities, such lesser amount as may be specified in the terms of such Securities)) all such Securities, which shall have become due otherwise than by acceleration (with interest upon such principal and premium, if any) and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest, at the same rate as the rate of interest specified in the such Securities of such series or all Securities, as the case may be (or, with respect to Original Issue Discount Securities, at the rate specified in the terms of such Securities for interest on overdue principal thereof upon maturity, redemption or acceleration of such series, as the case may be), to the date of such payment or deposit, and such amount as shall be sufficient to cover reasonable compensation to the Trustee, its agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by the Trustee except as a result of its negligence, negligence or bad faith or willful misconductfaith, and any and all defaults under the Indenture, other than the non-payment nonpayment of the principal of such Securities that has which shall have become due by acceleration, shall have been remedied; then and in every such case the holders of a majority in aggregate principal amount of the such affected Securities of such series (or of all the Securities, as the case may be) then Outstanding, by written notice to the Company Company, the Guarantor and to the Trustee, may waive all defaults with respect to that series or with respect to all Securities, as the case may be in such case, affected Securities treated as a single class and rescind and annul such declaration and its consequences; but provided that no such waiver or rescission and annulment shall extend to or shall affect any subsequent default or shall impair any right consequent thereon. In case the Trustee shall have proceeded to enforce any right under this Indenture and such proceedings shall have been discontinued or abandoned because of such rescission and annulment or for any other reason or shall have been determined adversely to the Trustee, then and in every such case the Company, the Trustee and the securityholders, as the case may be, shall be restored respectively to their former positions and rights hereunder, and all rights, remedies and powers of the Company, the Trustee and the securityholders, as the case may be, shall continue as though no such proceedings had been taken.
Appears in 1 contract
Rescission and Annulment. The provisions Subject to Section 6.04, if one or more Events of Default shall have occurred and be continuing (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body), then, and in each and every such case (other than an Event of Default specified in Section 6.01 are 6.02(i) or Section 6.02(j) with respect to the Company or any of its Significant Subsidiaries), unless the principal of all of the Notes shall have already become due and payable, the Trustee by notice in writing to the Company, or the Holders of at least 25% in aggregate principal amount of the Notes then outstanding determined in accordance with Section 8.04, by notice in writing to the Company and to the Trustee, may, and the Trustee at the request of such Holders accompanied by security, pre-funding and/or indemnity satisfactory to the Trustee and otherwise subject to the condition limitations set forth in this Supplemental Indenture, shall, declare 100% of the principal of, and any accrued and unpaid Special Interest on all the Notes to be due and payable immediately, and upon any such declaration the same shall become and shall automatically be immediately due and payable, notwithstanding anything contained in this Supplemental Indenture or in the Notes to the contrary. If an Event of Default specified in Section 6.02(i) or Section 6.02(j) with respect to the Company or any of its Significant Subsidiaries occurs and is continuing, 100% of the principal of, and accrued and unpaid Special Interest, if any, on, all Notes shall become and shall automatically be immediately due and payable without any action on the part of the Trustee. If an Event of Default occurs and is continuing, the Agents and any other agents of the Company appointed under this Supplemental Indenture will be required to act on the direction of the Trustee. The immediately preceding paragraph, however, is subject to the conditions that if, at any time after the principal of the Securities of any one or more of all series, as the case may be, Notes shall have been so declared due and payable, and before any judgment or decree for the payment of the moneys monies due shall have been obtained or entered as hereinafter provided, the Company shall pay or shall deposit with the Trustee a sum in immediately available funds sufficient to pay all matured installments of interest any accrued and unpaid Special Interest upon all the Securities of such series or of all the Securities, as the case may be, Notes and the principal of (any and premium, if any, on) all Securities of such series or of all the Securities, as the case may be (or, with respect to Original Issue Discount Securities, such lesser amount as may be specified in the terms of such Securities), which Notes that shall have become due otherwise than by acceleration (with interest upon on overdue installments of any accrued and unpaid Special Interest and on such principal at the then applicable Special Interest rate only and premium, if any) and, to the extent any Special Interest is payable at such time and to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest, at the same rate as the rate of interest specified in the Securities of such series or all Securities, as the case may be (or, with respect to Original Issue Discount Securities, at the rate specified in the terms of such Securities for interest on overdue principal thereof upon maturity, redemption or acceleration of such series, as the case may be), ) and amounts due to the date of such payment or depositTrustee pursuant to Section 7.07, and such amount as shall be sufficient to cover reasonable compensation to the Trusteeif (1) rescission would not conflict with any judgment or decree of a court of competent jurisdiction, its agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by the Trustee except as a result of its negligence, bad faith or willful misconduct, and (2) any and all defaults existing Events of Default under the this Supplemental Indenture, other than the non-payment nonpayment of the principal of Securities and accrued and unpaid Special Interest, if any, on Notes that has shall have become due solely by such acceleration, shall have been remedied; cured or waived pursuant to Section 6.10 and (3) the Issuer has paid or deposited with the Trustee a sum sufficient to pay all sums paid or advanced by the Trustee under this Supplemental Indenture and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, then and in every such case (except as provided in the holders immediately succeeding sentence) the Holders of a majority in aggregate principal amount of the Securities of such series (or of all the Securities, as the case may be) Notes then Outstandingoutstanding, by written notice to the Company and to the Trustee, may waive all defaults Defaults or Events of Default with respect to that series or with respect to all Securities, as the case may be in such case, treated as a single class Notes and rescind and annul such declaration and its consequences; consequences and such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of the Indenture; but no such waiver or rescission and annulment shall extend to or shall affect any subsequent default Default or Event of Default, or shall impair any right consequent thereon. In case Notwithstanding anything to the Trustee shall have proceeded to enforce any right under this Indenture and contrary herein, no such proceedings shall have been discontinued waiver or abandoned because of such rescission and annulment or for any other reason shall extend to or shall have been determined adversely affect any Default or Event of Default resulting from (i) the nonpayment of the principal of, or any accrued and unpaid Special Interest on, any Notes, (ii) a failure to the Trustee, then and in every such case the Company, the Trustee and the securityholdersrepurchase any Notes when required or (iii) a failure to pay or deliver, as the case may be, shall be restored respectively to their former positions and rights hereunder, and all rights, remedies and powers the consideration due upon conversion of the Company, the Trustee and the securityholders, as the case may be, shall continue as though no such proceedings had been takenNotes.
Appears in 1 contract
Rescission and Annulment. The provisions in Section 6.01 are subject If an Event of Default with respect to the condition that if, at any time after the principal of the Securities of any one series at the time Outstanding (other than an Event of Default specified in clause (g) or more (h) of Section 5.1) occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of all of the Outstanding Securities of that series, by written notice received by the Company (and, if given by the Holders, received by the Trustee), may declare the principal (or, if the Securities of that series are Original Issue Discount Securities or Indexed Securities, such portion of the principal amount as may be specified in the terms of that series) of, premium, if any, and accrued interest, if any, on all the Securities of that series to be due and payable and upon any such declaration such principal (or, in the case may beof Original Issue Discount Securities or Indexed Securities, such specified amount), premium, if any, and interest, if any, shall have been so declared be immediately due and payable. If an Event of Default specified in clause (g) or (h) of Section 5.1 with respect to the Securities of any series at the time Outstanding occurs and is continuing, then the principal (or, if the Securities of that series are Original Issue Discount Securities or Indexed Securities, such portion of the principal amount as may be specified in the terms of that series) of, premium, if any, and accrued interest, if any, on all the Securities of that series shall be immediately due and payable without any declaration or act on the part of the Trustee or any Holder of such Securities. At any time after such a declaration of acceleration has been made and before any a judgment or decree for the payment of the moneys money due shall have has been obtained or entered by the Trustee as hereinafter in this Article provided, the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities of that series, by written notice to the Company shall pay and the Trustee, may rescind and annul such declaration and its consequences if
(1) the Company or shall deposit any of the Guarantors has paid or deposited with the Trustee a sum sufficient to pay pay
(A) all matured installments of overdue interest upon on all the Securities of such series or of all the Securities, as the case may be, and that series,
(B) the principal of (and premium, if any, on) all any Securities of such that series or of all the Securities, as the case may be (or, with respect to Original Issue Discount Securities, such lesser amount as may be specified in the terms of such Securities), which shall have become due otherwise than by such declaration of acceleration and any interest thereon at the rate borne by the Securities of that series,
(with interest upon such principal and premium, if anyC) and, to the extent that payment of such interest is enforceable under applicable lawlawful, on interest upon overdue installments of interest, interest at the same rate as the rate of interest specified provided therefor in the Securities of such series or all Securities, as the case may be (or, with respect to Original Issue Discount Securities, at the rate specified in the terms of such Securities for interest on overdue principal thereof upon maturity, redemption or acceleration of such that series, as and
(D) all sums paid or advanced by the case may be)Trustee hereunder and the reasonable compensation, to the date expenses, disbursements and advances of such payment or deposit, and such amount as shall be sufficient to cover reasonable compensation to the Trustee, its agents, attorneys agents and counsel, and ;
(2) all other expenses and liabilities incurred, and all advances made, by the Trustee except as a result Events of its negligence, bad faith or willful misconduct, and any and all defaults under the IndentureDefault, other than the non-payment nonpayment of the principal of Securities of that has series which have become due solely by such declaration of acceleration, shall have been remedied; then and cured or waived as provided in every Section 5.7. No such case the holders of a majority in aggregate principal amount of the Securities of such series (or of all the Securities, as the case may be) then Outstanding, by written notice to the Company and to the Trustee, may waive all defaults with respect to that series or with respect to all Securities, as the case may be in such case, treated as a single class and rescind and annul such declaration and its consequences; but no such waiver or rescission and annulment shall extend to or shall affect any subsequent default or shall impair any right consequent thereon. In case the Trustee shall have proceeded to enforce any right under this Indenture and such proceedings shall have been discontinued or abandoned because of such rescission and annulment or for any other reason or shall have been determined adversely to the Trustee, then and in every such case the Company, the Trustee and the securityholders, as the case may be, shall be restored respectively to their former positions and rights hereunder, and all rights, remedies and powers of the Company, the Trustee and the securityholders, as the case may be, shall continue as though no such proceedings had been taken.
Appears in 1 contract