Common use of Sub Debt Clause in Contracts

Sub Debt. No Restricted Party shall: (a) make any payment on, or under any guarantee of, or purchase, repurchase, redeem, defease or otherwise acquire for value, any Sub Debt if a Default has occurred and is continuing or would result from doing so, except that if the terms of any Sub Debt allow the Lenders to give a "Payment Blockage Notice" to prevent certain mandatory payments, those mandatory payments will only be prevented by the preceding part of this sentence if a Payment Blockage Notice is in effect; (b) amend, supplement, restate, modify, replace, terminate or waive the original terms of any Sub Debt or any guarantee of any Sub Debt, if doing so would amend, supplement, restate, modify, replace, terminate, waive or relinquish the benefit of the related subordination provisions referred to in item (b) of the definition of Sub Debt; or (c) amend, supplement, restate, modify, replace, terminate or waive the original terms of any Sub Debt or any guarantee of any Sub Debt, if doing so would shorten, reduce or accelerate the maturity date or payment date of any payment of principal or would affect any mandatory redemption, prepayment, repurchase or offer to repurchase requirement, implement any additional such requirement or affect any other principal payment requirement, except for an extension of the maturity date of the Sub Debt.

Sub Debt. No Restricted Party shall: (a) make any payment on, or under any guarantee of, or purchase, repurchase, redeem, defease or otherwise acquire for value, any Sub Debt if a Default has occurred and is continuing or would result from doing so, except that if the terms of any Sub Debt allow the Lenders to give a "“Payment Blockage Notice" ” to prevent certain mandatory payments, those mandatory payments will only be prevented by the preceding part of this sentence if a Payment Blockage Notice is in effect; (b) amend, supplement, restate, modify, replace, terminate or waive the original terms of any Sub Debt or any guarantee of any Sub Debt, if doing so would amend, supplement, restate, modify, replace, terminate, waive or relinquish the benefit of the related subordination provisions referred to in item (b) of the definition of Sub Debt; or (c) amend, supplement, restate, modify, replace, terminate or waive the original terms of any Sub Debt or any guarantee of any Sub Debt, if doing so would shorten, reduce or accelerate the maturity date or payment date of any payment of principal or would affect any mandatory redemption, prepayment, repurchase or offer to repurchase requirement, implement any additional such requirement or affect any other principal payment requirement, except for an extension of the maturity date of the Sub Debt.