Common use of Rights of Holders of Senior Indebtedness Not Impaired Clause in Contracts

Rights of Holders of Senior Indebtedness Not Impaired. No rights of any present or future holder of any Senior Indebtedness to enforce subordination as herein provided shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Trustee or any Holder of the Debentures then Outstanding, or by any act or failure to act, in good faith, by any such holder, or by any noncompliance by any such holder, with the terms, provisions or covenants of this First Supplemental Indenture, regardless of any knowledge thereof which any such holder may have or otherwise be charged with. Without in any way limiting the generality of the foregoing paragraph, the holders of Senior Indebtedness may, at any time and from time to time, without the consent of or notice to the Holders of the Debentures, without incurring responsibility to the Holders of the Debentures and without impairing or releasing the subordination provided in this Article or in the Original Indenture or the obligations of the Holders of the Debentures to the holders of Senior Indebtedness, do any one or more of the following: (i) change the manner, place or terms of payment of, or increase the amount of, or interest rate(s) applicable to, renew or alter, or waiver any provision of, Senior Indebtedness, or otherwise amend or supplement in any manner Senior Indebtedness or any instrument evidencing the same or any agreement under which Senior Indebtedness is outstanding; (ii) sell, exchange, release or otherwise deal with any property pledged, mortgaged or otherwise securing Senior Indebtedness; (iii) release any Person liable in any manner for the collection of Senior Indebtedness; and (iv) exercise or refrain from exercising any rights against the Issuer and any other Person.

Appears in 5 contracts

Samples: First Supplemental Indenture (Source One Mortgage Services Corp), First Supplemental Indenture (Source One Mortgage Services Corp), First Supplemental Indenture (Source One Mortgage Services Corp)

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Rights of Holders of Senior Indebtedness Not Impaired. No rights right of any present or future holder of any Senior Indebtedness to enforce subordination as herein provided shall at any time or in any way be prejudiced or impaired by any act or failure to act on the part of the Trustee or any Holder of Company, as the Debentures then Outstandingcase may be, or by any act or failure to act, in good faith, by any such holder, or by any noncompliance non-compliance by any such holderthe Company, as the case may be, with the terms, provisions or and covenants of this First Supplemental Indenture, regardless of any knowledge thereof which that any such holder may have or otherwise be charged with. Without in any way limiting the generality of the foregoing paragraph, the holders of Senior Indebtedness may, at any time and from time to time, without the consent of or notice to the Trustee or the Holders of the DebenturesSecurities, without incurring responsibility to the Holders of the Debentures Securities and without impairing or releasing the subordination provided in this Article or in the Original Indenture Fourteen or the obligations hereunder of the Holders of the Debentures Securities to the holders of Senior Indebtedness, do any one or more of the following: (i) change the manner, place or terms of payment or extend the time of payment of, or increase the amount of, or interest rate(s) applicable to, renew or alter, or waiver any provision of, Senior Indebtedness, or otherwise amend or supplement in any manner Senior Indebtedness or any instrument evidencing the same or any agreement under which Senior Indebtedness is outstanding; (ii) sell, exchange, release or otherwise deal with any property pledged, mortgaged or otherwise securing Senior Indebtedness; (iii) release any Person liable in any manner for the collection of Senior Indebtedness; and (iv) exercise or refrain from exercising any rights against the Issuer Company and any other Person.

Appears in 2 contracts

Samples: Indenture (Nipsco Industries Inc), Indenture (Nipsco Industries Inc)

Rights of Holders of Senior Indebtedness Not Impaired. No rights right of any present or future holder of any Senior Indebtedness of the Company to enforce the subordination as herein provided shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Trustee or any Holder of the Debentures then Outstanding, Company or by any act or failure to act, in good faith, by any such holder, or by any noncompliance non-compliance by any such holder, the Company with the terms, provisions or and covenants of this First Supplemental Indenture, regardless of any knowledge thereof which any such holder may have or be otherwise be charged with. Without in any way limiting the generality The provisions of the foregoing paragraph, the holders of Senior Indebtedness may, at any time and from time to time, without the consent of or notice to the Holders of the Debentures, without incurring responsibility to the Holders of the Debentures and without impairing or releasing the subordination provided in this Article or in Fourteen are intended to be for the Original Indenture or the obligations benefit of the Holders of the Debentures to and shall be enforceable directly by the holders of Senior Indebtedness. Each holder of any Security by his acceptance thereof acknowledges and agrees that the foregoing subordination provisions are, do and are intended to be, an inducement and a consideration to each holder of any one or more of the following: (i) change the manner, place or terms of payment of, or increase the amount of, or interest rate(s) applicable to, renew or alter, or waiver any provision of, Senior Indebtedness, whether such Senior Indebtedness was created or otherwise amend acquired before or supplement after the issuance of the Securities, to acquire and continue to hold, or to continue to hold, such Senior Indebtedness, and such holder of Senior Indebtedness shall be deemed conclusively to have relied on such subordination provisions in acquiring and continuing to hold, or in continuing to hold, such Senior Indebtedness. Notice of any manner default in the payment of any Senior Indebtedness and notice of acceptance of the provisions hereof are hereby expressly waived. No waiver, forbearance or release by any holder of Senior Indebtedness under such Senior Indebtedness or under this Article Fourteen shall constitute a release of any instrument evidencing of the same obligations or any agreement under which Senior Indebtedness is outstanding; (ii) sell, exchange, release liabilities of the Trustee or otherwise deal with any property pledged, mortgaged or otherwise securing Senior Indebtedness; (iii) release any Person liable holders of the Securities provided in any manner for the collection of Senior Indebtedness; and (iv) exercise or refrain from exercising any rights against the Issuer and any other Personthis Article Fourteen.

Appears in 2 contracts

Samples: Indenture (Ferro Corp), Indenture (Ferro Corp)

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Rights of Holders of Senior Indebtedness Not Impaired. No rights of any present or future holder of any Senior Indebtedness to enforce subordination as herein provided shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Trustee or any Holder of the Debentures QUICS then Outstanding, or by any act or failure to act, in good faith, by any such holder, or by any noncompliance by any such holder, with the terms, provisions or covenants of this First Supplemental Indenture, regardless of any knowledge thereof which any such holder may have or otherwise be charged with. Without in any way limiting the generality of the foregoing paragraph, the holders of Senior Indebtedness may, at any time and from time to time, without the consent of or notice to the Holders of the DebenturesQUICS, without incurring responsibility to the Holders of the Debentures QUICS and without impairing or releasing the subordination provided in this Article or in the Original Indenture or the obligations of the Holders of the Debentures QUICS to the holders of Senior Indebtedness, do any one or more of the following: (i) change the manner, place or terms of payment of, or increase the amount of, or interest rate(s) applicable to, renew or alter, or waiver any provision of, Senior Indebtedness, or otherwise amend or supplement in any manner Senior Indebtedness or any instrument evidencing the same or any agreement under which Senior Indebtedness is outstanding; (ii) sell, exchange, release or otherwise deal with any property pledged, mortgaged or otherwise securing Senior Indebtedness; (iii) release any Person liable in any manner for the collection of Senior Indebtedness; and (iv) exercise or refrain from exercising any rights against the Issuer Company and any other Person.

Appears in 2 contracts

Samples: Supplemental Indenture (Source One Mortgage Services Corp), Supplemental Indenture (Source One Mortgage Services Corp)

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