Common use of Suspension of Guarantee Obligations When Guarantor Senior Indebtedness in Default Clause in Contracts

Suspension of Guarantee Obligations When Guarantor Senior Indebtedness in Default. (a) Unless Section 12.03 shall be applicable, upon (1) the occurrence of a Payment Default with respect to any Designated Senior Indebtedness or Significant Senior Indebtedness guaranteed by a Subsidiary Guarantor (which guarantee constitutes Guarantor Senior Indebtedness of such Subsidiary Guarantor) and (2) receipt by the Trustee, the Company and such Subsidiary Guarantor from the Representatives of written notice of such occurrence, then no payment (other than payments previously made pursuant to Article Nine hereof) or distribution of any assets of such Subsidiary Guarantor of any kind or character shall be made by such Subsidiary Guarantor on account of 113 -104- Obligations on the Securities or on account of the purchase, redemption or other acquisition of Securities or any of the obligations of such Subsidiary Guarantor under this Guarantee unless and until such Payment Default shall have been cured or waived or shall have ceased to exist or such Guarantor Senior Indebtedness shall have been discharged or paid in full cash or Cash Equivalents, after which such Guarantor shall resume making any and all required payments in respect of its obligations under this Guarantee.

Suspension of Guarantee Obligations When Guarantor Senior Indebtedness in Default. (a) Unless Section 12.03 shall be applicable, upon (1) the occurrence of a Payment Default with respect to any Designated Senior Indebtedness or Significant Senior Indebtedness guaranteed by a Subsidiary Guarantor (which guarantee constitutes consititutes Guarantor Senior Indebtedness of such Subsidiary Guarantor) and (2) receipt by the Trustee, the Company and such Subsidiary Guarantor from the Representatives of written notice of such occurrence, then no payment (other than payments previously made pursuant to Article Nine hereof) or distribution of any assets of such Subsidiary Guarantor of any kind or character shall be made by such Subsidiary Guarantor on account of 113 -104- any Obligations on under the Securities or on account of the purchase, redemption or other acquisition of Securities or any of the obligations of such Subsidiary Guarantor under this Guarantee unless and until such Payment Default shall have been cured or waived or shall have 112 -104- ceased to exist or such Guarantor Senior Indebtedness shall have been discharged or paid in full in cash or Cash Equivalents, after which such Guarantor shall resume making any and all required payments in respect of its obligations under this Guarantee.

Suspension of Guarantee Obligations When Guarantor Senior Indebtedness in Default. (a) Unless Section 12.03 14.05 shall be applicable, upon (1) the occurrence of a Payment Default with respect to any Designated Senior Indebtedness or Significant Senior Indebtedness guaranteed by a Subsidiary Guarantor (which guarantee constitutes Guarantor Senior Indebtedness of such Subsidiary Guarantor) and (2) receipt by the Trustee, the Company and such Subsidiary Guarantor from the Senior Representatives of written notice of such occurrence, then no payment (other than payments previously made pursuant to Article Nine hereof) or distribution of any assets of such Subsidiary Guarantor of any kind or character (excluding Permitted Junior Securities) shall be made by such Subsidiary Guarantor on account of 113 -104- Obligations principal of, premium, if any, or interest on the Securities or on account of the purchase, redemption or other acquisition of Securities or any of the obligations of such Subsidiary Guarantor under this Guarantee unless and until such Payment Default shall have been cured or waived or shall have ceased to exist or such Guarantor Senior Indebtedness shall have been discharged or paid in full cash or Cash Equivalentsfull, after which such Guarantor shall resume making any and all required payments in respect of its obligations under this Guarantee.

Suspension of Guarantee Obligations When Guarantor Senior Indebtedness in Default. (a) Unless Section 12.03 15.05 shall be applicable, upon (1) the occurrence of a Payment Default with respect to any Designated Senior Indebtedness or Significant Senior Indebtedness guaranteed by a Subsidiary Guarantor (which guarantee constitutes Guarantor Senior Indebtedness of such Subsidiary Guarantor) and (2) receipt by the Trustee, the Company and such Subsidiary Guarantor from the Senior Representatives of written notice of such occurrence, then no payment (other than payments previously made pursuant to Article Nine hereof) or distribution of any assets of such Subsidiary Guarantor of any kind or character (excluding Permitted Junior Securities) shall be made by or on behalf of such Subsidiary Guarantor on account of 113 -104- the Indenture Obligations on or for the Securities or on account of the purchaseacquisition, redemption or other acquisition purchase of Securities any Indenture Obligations for cash, property or otherwise or any of the obligations of such Subsidiary Guarantor under this Guarantee unless and until such Payment Default shall have been cured or waived or shall have ceased to exist or such Guarantor Senior Indebtedness shall have been discharged or paid in full cash or Cash Equivalentsfull, after which such Guarantor shall resume making any and all required payments in respect of its obligations under this Guarantee.

Suspension of Guarantee Obligations When Guarantor Senior Indebtedness in Default. (a) Unless Section 12.03 shall be applicable, upon (1) the occurrence of a Payment Default with respect to any Designated Senior Indebtedness no direct or Significant Senior Indebtedness guaranteed by a Subsidiary Guarantor (which guarantee constitutes Guarantor Senior Indebtedness of such Subsidiary Guarantor) and (2) receipt by the Trustee, the Company and such Subsidiary Guarantor from the Representatives of written notice of such occurrence, then no indirect payment (other than payments by a trust previously made established pursuant to Article Nine hereof) or distribution of any assets of such Subsidiary any Guarantor of any kind or character shall be made by such Subsidiary Guarantor on account of 113 -104- Obligations on the Securities or on account of the purchase, redemption or other acquisition of Securities or any on account of Guarantee Obligations on the Securities whether pursuant to the terms of the obligations Securities or upon acceleration or otherwise shall be made if, at the time of such Subsidiary payment or distribution, there exists a default in the payment of all or any portion of principal of, premium, if any, or interest on (i) any Designated Senior Indebtedness or (ii) Significant Senior Indebtedness (and the Trustee has received written notice thereof) and such Designated Senior Indebtedness or Significant Senior Indebtedness is guaranteed by such Guarantor under this Guarantee unless (which guarantee constitutes Guarantor Senior Indebtedness of such Guarantor), and such default shall not have been cured or waived by or on behalf of the holders of such Guarantor Senior Indebtedness or shall have ceased to exist, until such Payment Default default shall have been cured or waived or shall have ceased to exist or such Guarantor Senior Indebtedness shall have been discharged or paid in full in cash or Cash Equivalents, after which such Guarantor shall resume making any and all required payments in respect of its the obligations under this its Guarantee.