Common use of Suspension of Payment When Senior Indebtedness in Default Clause in Contracts

Suspension of Payment When Senior Indebtedness in Default. (a) Unless Section 1202 shall be applicable, upon the occurrence of a Payment Default, no payment (other than any payments previously made pursuant to the provisions described in Article Four) or distribution of any assets of the Company of any kind or character (excluding Permitted Junior Securities) shall be made by the Company on account of principal of, premium, if any, or interest on, the Securities of any series or any other Indenture Obligations or on account of the purchase, redemption, defeasance (whether under Section 402 or 403) or other acquisition of or in respect of the Securities unless and until such Payment Default shall have been cured or waived or shall have ceased to exist or the Designated Senior Indebtedness with respect to which such Payment Default shall have occurred shall have been discharged or paid in full in cash or Cash Equivalents or in any other form as acceptable to the Holders of Senior Indebtedness, after which the Company shall resume making any and all required payments in respect of the Securities, including any missed payments.

Suspension of Payment When Senior Indebtedness in Default. (a) Unless Section 1202 shall be applicable, upon the occurrence of a Payment Default, no payment (other than any payments previously made pursuant to the provisions described in Article Four) or distribution of any assets of the Company of any kind or character (excluding Permitted Junior Securities) shall be made by the Company on account of principal of, premium, if any, or interest on, the Securities of any series or any other Indenture Obligations or on account of the purchase, redemption, defeasance (whether under Section 402 or 403) or other acquisition of or in respect of the Securities unless and until such Payment Default shall have been cured or waived or shall have ceased to exist or the Designated Senior Indebtedness with respect to which such Payment Default shall have occurred shall have been discharged or paid in full in cash or Cash Equivalents or in any other form as acceptable to the Holders of Senior Indebtedness, after which the Company shall resume making any and all required payments in respect of the Securities, including any missed payments.

Suspension of Payment When Senior Indebtedness in Default. (a) Unless Section 1202 shall be applicable, upon the occurrence of a Payment Default, no payment (other than any payments previously made pursuant to the provisions described in Article Four) or distribution of any assets of the Company of any kind or character (excluding Permitted Junior Securities) shall be made by the Company on account of principal of, premium, if any, or 55 interest on, the Securities of any series or any other Indenture Obligations or on account of the purchase, redemption, defeasance (whether under Section 402 or 403) or other acquisition of or in respect of the Securities unless and until such Payment Default shall have been cured or waived or shall have ceased to exist or the Designated Senior Indebtedness with respect to which such Payment Default shall have occurred shall have been discharged or paid in full in cash or Cash Equivalents or in any other form as acceptable to the Holders of Senior Indebtedness, after which the Company shall resume making any and all required payments in respect of the Securities, including any missed payments.

Suspension of Payment When Senior Indebtedness in Default. (a) Unless Section 1202 12.02 shall be applicable, upon the occurrence of a Payment Default, no payment (other than any payments previously made pursuant to the provisions described in Article Four) or distribution of any assets of the Company Company, of any any, kind or character (excluding Permitted Junior Securities) shall be made by the Company on account of principal of, premium, if any, or interest on, the Securities of any series or any other Indenture Obligations or on account of the purchase, redemption, defeasance (whether under Section 402 4.02 or 4034.03) or other acquisition of or in respect of the Securities unless and until such Payment Default shall have been cured or waived or shall have ceased to exist or the Designated Senior Indebtedness with respect to which such Payment Default shall have occurred shall have been discharged or paid in full in cash or Cash Equivalents or in any other form as acceptable to the Holders of such Designated Senior Indebtedness, after which the Company shall resume making any and all required payments in respect of the Securities, including any missed payments.

Suspension of Payment When Senior Indebtedness in Default. (ai) Unless the preceding Section 1202 1 shall be applicable, upon the occurrence of a default in the payment when due of principal, premium, if any, or interest on any Senior Indebtedness (a "Payment Default"), no payment (other than any payments previously made pursuant to the provisions described in Article Four) or distribution of any assets of the Company of any kind or character (excluding Permitted Junior Securities) shall be made by or on behalf of the Company on account of principal of, premium, if any, or interest on, on the Securities of any series or any other Indenture Obligations Subordinated Indebtedness or on account of the purchase, redemption, defeasance (whether under Section 402 or 403) redemption or other acquisition of or in respect any Subordinated Indebtedness (other than payments previously made pursuant to the satisfaction and discharge provisions of the Securities any document governing such Subordinated Indebtedness) unless and until such Payment Default shall have been cured or waived or shall have ceased to exist or the Designated such Senior Indebtedness with respect as to which such Payment Default shall have occurred relates shall have been discharged or paid in full in cash or Cash Equivalents or in any other form as acceptable Equivalents, after which, subject to the Holders of Senior Indebtednesspreceding Section 1 (if applicable), after which the Company shall resume making any and all required payments in respect of the SecuritiesSubordinated Indebtedness, including any missed payments.