Common use of Suspension of Payment When Senior Debt Is in Default Clause in Contracts

Suspension of Payment When Senior Debt Is in Default. (a) Unless Section 10.3 shall be applicable, if any default occurs and is continuing in the payment when due, whether at maturity, upon any redemption, by declaration or otherwise, of any principal of, interest on, or premium, if any, liquidated damages, if any, or other Obligations with respect to, any Designated Senior Debt of the Issuers (a “Payment Default”), then no payment or distribution of any kind or character shall be made by or on behalf of the Issuers or any other Person on their behalf with respect to any Obligations on or relating to the Securities or to purchase, repurchase, redeem or otherwise acquire or retire any of the Securities for cash or property or otherwise or set aside any funds or make any deposit with the Trustee for any such purpose (collectively, “pay the Securities”) until such Payment Default shall have been cured or waived or shall have ceased to exist or such Senior Debt as to which such Payment Default relates shall have been paid in full in cash or Cash Equivalents, after which the Issuers shall (subject to other provisions of this Article Ten) resume making any and all required payments in respect of the Securities, including any missed payments.

Suspension of Payment When Senior Debt Is in Default. (a) Unless Section 10.3 shall be applicable, if any default occurs and is continuing in the payment when due, whether at maturity, upon any redemption, by declaration or otherwise, of any principal of, interest on, or premium, if any, liquidated damages, if any, or other Obligations with respect to, any Designated Senior Debt of the Issuers Issuer (a “Payment Default”"PAYMENT DEFAULT"), then no payment or distribution of any kind or character shall be made by or on behalf of the Issuers Issuer or any other Person on their its behalf with respect to any Obligations on or relating to the Securities or to purchase, repurchase, redeem or otherwise acquire or retire any of the Securities for cash or property or otherwise or set aside any funds or make any deposit with the Trustee for any such purpose (collectively, “pay the Securities”"PAY THE SECURITIES") until such Payment Default shall have been cured or -104- waived or shall have ceased to exist or such Senior Debt as to which such Payment Default relates shall have been paid in full in cash or Cash Equivalents, after which the Issuers Issuer shall (subject to other provisions of this Article Ten) resume making any and all required payments in respect of the Securities, including any missed payments.

Suspension of Payment When Senior Debt Is in Default. (a) Unless Section 10.3 10.03 shall be applicable, if any default occurs and is continuing in the payment when due, whether at maturity, upon any redemption, by declaration or otherwise, of any principal of, interest on, or premium, if any, liquidated damages, if any, or other Obligations with respect to, any Designated Senior Debt of the Issuers (a “Payment Default”), then no payment or distribution of any kind or character shall be made by or on behalf of the Issuers or any other Person on their behalf with respect to any Obligations on or relating to the Securities or to purchase, repurchase, redeem or otherwise acquire or retire any of the Securities for cash or property or otherwise or set aside any funds or make any deposit with the Trustee for any such purpose (collectively, “pay the Securities”) until such Payment Default shall have been cured or waived or shall have ceased to exist or such Senior Debt as to which such Payment Default relates shall have been paid in full in cash or Cash Equivalents, after which the Issuers shall (subject to other provisions of this Article Ten) resume making any and all required payments in respect of the Securities, including any missed payments.

Suspension of Payment When Senior Debt Is in Default. (a) Unless Section 10.3 shall be applicable, if any default occurs and is continuing in the payment when due, whether at maturity, upon any redemption, by declaration or otherwise, of any principal of, interest on, or premium, if any, liquidated damages, if any, or other Obligations with respect to, any Designated Senior Debt of the Issuers Issuer (a “"Payment Default”"), then no payment or distribution of any --------------- kind or character shall be made by or on behalf of the Issuers Issuer or any other Person on their its behalf with respect to any Obligations on or relating to the Securities or to purchase, repurchase, redeem or otherwise acquire or retire any of the Securities for cash or property or otherwise or set aside any funds or make any deposit with the Trustee for any such purpose (collectively, “"pay the Securities”------- securities") until such Payment Default shall have been cured or waived or shall ---------- have ceased to exist or such Senior Debt as to which such Payment Default relates shall have been paid in full in cash or Cash Equivalents, after which the Issuers Issuer shall (subject to other provisions of this Article Ten) resume making any and all required payments in respect of the Securities, including any missed payments.