Common use of Rescission and Annulment Clause in Contracts

Rescission and Annulment. If an Event of Default with respect to the Securities of any series at the time Outstanding (other than an Event of Default specified in clause (g) or (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 At any time after such a declaration of acceleration has been made 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 not less than a majority in aggregate principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if (1) the Company or any of the Guarantors has paid or deposited with the Trustee a sum sufficient to pay (A) all overdue interest on all Securities of that series, (B) the principal of and premium, if any, on any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate borne by the Securities of that series, (C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate provided therefor in the Securities of that series, and (D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and (2) all Events of Default, other than the nonpayment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.7. No such rescission shall affect any subsequent default or impair any right consequent thereon.

Rescission and Annulment. If an Event of Default with respect to the Securities of any series at the time Outstanding (other than an Event of Default specified in clause (g) or (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 At any time after such a declaration Notes of acceleration has any series have been made accelerated 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 holders of not less than a majority in aggregate principal amount of the Outstanding Securities Notes of that such series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if: (1) the Company or any of the Guarantors has paid or deposited with the Trustee a sum of money sufficient to pay (or, to the extent that the terms of the Notes of such series established pursuant to Section 2.01 expressly provide for payment to be made in shares of Common Stock or other securities or property, shares of Common Stock or other securities or property, together with cash in lieu of fractional shares or securities, sufficient to pay) (Aa) all overdue installments of any interest on all Securities any Notes of that seriessuch series which have become due otherwise than by such declaration of acceleration, (Bb) the principal of and premium, if any, any premium on any Securities Notes of that such series which have become due otherwise than by such declaration of acceleration and any and, to the extent permitted by applicable law, interest thereon at the rate or respective rates, as the case may be, provided for in or with respect to such Notes, or, if no such rate or rates are so provided, at the rate or respective rates, as the case may be, of interest borne by the Securities of that seriessuch Notes, (Cc) to the extent that payment of such interest is lawfulpermitted by applicable law, interest upon overdue interest installments of any interest, if any, which have become due otherwise than by such declaration of acceleration at the rate or respective rates, as the case may be, provided therefor for in or with respect to such Notes or, if no such rate or rates are so provided, at the Securities rate or respective rates, as the case may be, of that seriesinterest borne by such Notes, and (Dd) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counselcounsel and all other amounts due the Trustee under Section 7.06; and (2) all Events of DefaultDefault with respect to Notes of such series, other than the nonpayment non-payment of the principal of, and premium and interest, if any, on, the Notes of Securities of that such series which shall have become due solely by such declaration of acceleration, shall have been cured or waived as provided in Section 5.76.13. "No such rescission shall affect any subsequent default or impair any right consequent thereon." (c) Section 6.03 of the Original Indenture is hereby amended by deleting clause (2) of the first paragraph of Section 6.03 and all of the text in such first paragraph following such clause (2) and replacing the same it in its entirety with the following:

Rescission and Annulment. (a) If an any Event of Default with respect to the Securities of any series at the time Outstanding (other than an Event of Default specified in clause (gSection 6.01(f) or (hSection 6.01(g)) of Section 5.1) with respect to the Bonds occurs and is continuing, either the Trustee or the Holders of at least 25% in aggregate principal amount of the then Outstanding Bonds may declare all of the Bonds to be due and payable immediately. Upon any such declaration, the Bonds shall become due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders). Notwithstanding the foregoing, if an Event of Default specified in Section 6.01(f) or Section 6.01(g) above occurs, all Outstanding Bonds shall become due and payable without further action or notice. (b) At any time after such a declaration of acceleration with respect to Bonds has been made and made, but before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter provided in this Article provided6, the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities of that seriesBonds, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if: (1i) the Company or any of the Guarantors has paid or deposited with the Trustee a sum sufficient to paypay in U.S. dollars, (A1) all overdue interest interest, if any, on all Securities of that seriesOutstanding Bonds, (B2) the all unpaid principal of (and premium, if any, on on) any Securities of that series Outstanding Bonds which have has become due otherwise than by such declaration of acceleration acceleration, and any interest thereon interest, if any, on such unpaid principal (and premium, if any) at the rate borne by the Securities of that seriesor rates prescribed therefor in such Bonds, (C3) to the extent that payment of such interest is lawful, interest upon on overdue interest interest, if any, at the rate provided or rates prescribed therefor in the Securities of that seriessuch Bonds, and (D4) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and (25) all Events of Default, Default with respect to Bonds other than the nonpayment non-payment of the amounts of principal of Securities of that series (or premium, if any, on) or interest on Bonds which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.76.13. No such rescission shall affect any subsequent default or impair any right consequent thereon. (c) Upon the Trustee providing any declaration of acceleration, or rescission and annulment thereof pursuant to this Section 6.02 with respect to Bonds all or part of which is represented by a Global Bond, a record date shall automatically and without any other action by any Person be set for the purpose of determining the Holders of Outstanding Bonds entitled to join such declaration of acceleration, or rescission and annulment, as the case may be, which record date shall be the close of business on the date the Trustee shall have provided such declaration of acceleration, or rescission and annulment, as the case may be. The Holders of Outstanding Bonds on such record date (or their duly appointed agents), and only such Persons, shall be entitled to join in such declaration of acceleration, or rescission and annulment, as the case may be, whether or not such Holders remain Holders after such record date; provided that, unless such declaration of acceleration, or rescission and annulment, as the case may be, shall have become effective by virtue of the requisite percentage having been obtained prior to the day which is 90 days after such record date (or their duly appointed agents), such declaration of acceleration, or rescission and annulment, as the case may by, shall automatically and without any action by any Person be cancelled and of no further effect. Nothing in this paragraph shall prevent a Holder (or duly appointed agent thereof)

Rescission and Annulment. If an Event of Default with respect to the Securities of any series at the time Outstanding (other than an Event of Default specified in clause (g) or (h) of Section 5.1) occurs and is continuing, then in every such case the Trustee or the Holders of at least not less than 25% in aggregate principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by the Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made 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 not less than a majority in aggregate principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if (1) the Company or any if all Events of the Guarantors has paid or deposited Default with the Trustee a sum sufficient respect to pay (A) all overdue interest on all Securities of that series, (B) the principal of and premium, if any, on any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate borne by the Securities of that series, (C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate provided therefor in the Securities of that series, and (D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and (2) all Events of Default, other than the nonpayment non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.7513. No such rescission shall affect any subsequent default or impair any right consequent thereon. Section 503.