Common use of Section 602 Notice of Defaults Clause in Contracts

Section 602 Notice of Defaults. If a Default occurs hereunder with respect to Securities of any series, the Trustee shall give the Holders of Securities of such series notice of such Default as and to the extent provided by the Trust Indenture Act; provided, however, that in the case of any Default of the character specified in Section 501(4) with respect to Securities of such series, no such notice to Holders shall be given until at least 30 days after the occurrence thereof. Except in the case of any Default of the character specified in Section 501(1) or Section 501(2) with respect to Securities of such series, the Trustee may withhold notice if and so long as the Trustee in good faith determines that withholding notice is in the interest of the Holders (it being understood that the Trustee does not have an affirmative duty to determine whether any action is not in the interest of any Holder) or that would involve the Trustee in personal liability. The Trustee shall not be required to take notice or be deemed to have notice or knowledge of any Default or Event of Default with respect to the Securities of a series, except an Event of Default under Section 501(1) or Section 501(2) hereof (provided, that the Trustee is the principal Paying Agent with respect to the Securities of such series), unless a Responsible Officer has received written notice at the Corporate Trust Office of such Default or Event of Default in accordance with Section 105 from the Company, any Subsidiary or the Holder of any Security, which notice states that the event referred to therein constitutes a Default or Event of Default and references this Indenture and the relevant Securities.

Section 602 Notice of Defaults. If a Default default occurs hereunder with respect to Securities of any series, the Trustee shall give the Holders of Securities of such series notice of such Default default as and to the extent provided by the Trust Indenture Act; provided, however, that in the case of any Default default of the character specified in Section 501(4) with respect to Securities of such series, no such notice to Holders shall be given until at least 30 days after the occurrence thereof. Except in the case of any Default default of the character specified in Section 501(1) or Section 501(2) with respect to Securities of such series, the Trustee may withhold notice if and so long as the Trustee in good faith determines that withholding notice is in the interest of the Holders (it being understood that Holders. For the Trustee does not have purpose of this Section 602, the term “default” means any event which is, or after notice or lapse of time or both would become, an affirmative duty Event of Default with respect to determine whether any action is not in the interest Securities of any Holder) or that would involve the Trustee in personal liabilitysuch series. The Trustee shall not be required to take notice or be deemed to have notice or knowledge of any Default or Event of Default with respect to the Securities of a series, except an Event of Default under Section 501(1) or Section 501(2) hereof (provided, that the Trustee is the principal Paying Agent with respect to the Securities of such series), unless a Responsible Officer has received written notice at the Corporate Trust Office of such Default or Event of Default in accordance with Section 105 from the Company, any Subsidiary or the Holder of any Security, which notice states that the event referred to therein constitutes a Default or an Event of Default and references this Indenture and the relevant Securities.

Section 602 Notice of Defaults. If Within 90 days after a Default occurs Responsible Officer of the Trustee has actual knowledge of the occurrence of any default hereunder with respect to the Securities of any series, the Trustee shall give the transmit by mail or electronically to all Holders of Securities of such series series, notice of such Default as and default hereunder actually known to the extent provided by the Trust Indenture ActTrustee, unless such default shall have been cured or waived; provided, however, that in the case of any Default default of the character specified in Section 501(4501(3) with respect to Securities of such series, no such notice to Holders shall be given until at least 30 90 days after the occurrence thereof. Except in the case of a default or Event of Default in payment of principal of, premium, if any, or interest on any Default Security, or in the payment of the character specified in Section 501(1) or Section 501(2) with respect to Securities of such seriesany sinking fund installment, the Trustee may withhold such notice if and so long as the Trustee in good faith determines that withholding the notice is in the interest of the Holders (it being understood of the Securities. For the purpose of this Section, the term “default” means any event which is, or after notice or lapse of time or both would become, an Event of Default with respect to Securities of such series; provided that any default that results solely from the Trustee does not have taking of an affirmative duty to determine whether any action is not in the interest of any Holder) or that would involve have been permitted but for the Trustee in personal liabilitycontinuation of a previous default will be deemed to be cured if such previous default is cured prior to becoming an Event of Default. The Trustee shall not be required to take notice or be deemed to have notice or charged with knowledge of any Default default or Event of Default with respect to the Securities of a series, except an Event of Default under Section 501(1this Indenture or related documents unless (i) or Section 501(2) hereof (provided, that the Trustee is the principal Paying Agent with respect to the Securities of such series), unless a Responsible Officer has received written notice at of the Corporate Trust Office Trustee shall have actual knowledge of such Default or Event of Default or (ii) the Trustee shall have received notice in accordance with Section 105 from the Company, any Subsidiary or the Holder writing of any Security, which notice states that the event referred to therein constitutes a Default such default or Event of Default by the Operating Partnership or by the Holders of at least 25% in aggregate principal amount of the Securities then Outstanding of the affected series, and such notice is received by the Trustee at the Corporate Trust Office of the Trustee, and such notice references the Securities and this Indenture and the relevant SecuritiesIndenture.