Common use of This Article Twelve Not To Prevent Events of Default Clause in Contracts

This Article Twelve Not To Prevent Events of Default. The failure to make a payment on account of Obligations of any Subsidiary Guarantor by reason of any provision of this Article Twelve will not be construed as preventing the occurrence of an Event of Default. Nothing contained in this Article Twelve shall limit the right of the Trustee or the Holders to take any action or accelerate the maturity of the Notes pursuant to Article Six or to pursue any rights or remedies hereunder or under applicable law, subject to the rights, if any, under this Article Twelve of the holders from time to time, of Senior Indebtedness of any Subsidiary Guarantor. ARTICLE THIRTEEN

Appears in 3 contracts

Samples: Indenture (Terex Corp), Indenture (Terex Corp), Indenture (Amida Industries Inc)

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This Article Twelve Not To Prevent Events of Default. The failure to make a payment on account of Obligations of any Subsidiary Guarantor by reason of any provision of this Article Twelve will not be construed as preventing the occurrence of an Event of Default. Nothing contained in this Article Twelve shall limit the right of the Trustee or the Holders to take any action or accelerate the maturity of the Notes pursuant to Article Six or to pursue any rights or remedies hereunder or under applicable law, subject to the rights, if any, under this Article Twelve of the holders from time to time, of Senior Indebtedness of any Subsidiary Guarantor. ARTICLE THIRTEEN.

Appears in 2 contracts

Samples: Indenture (Terex Corp), HCC Industries International

This Article Twelve Not To Prevent Events of Default. The failure to make a payment on account of Obligations of any Subsidiary Guarantor by reason of any provision of this Article Twelve will shall not be construed as preventing the occurrence of an Event of Default. Nothing contained in this Article Twelve shall limit the right of the Trustee or the Holders to take any action or accelerate the maturity of the Notes pursuant to Article Six or to pursue any rights or remedies hereunder or under applicable law, subject to the rights, if any, under this Article Twelve of the holders from time to time, of Senior Indebtedness of any Subsidiary Guarantor. ARTICLE THIRTEEN

Appears in 1 contract

Samples: Indenture (Wellman North America Inc)

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This Article Twelve Not To Prevent Events of Default. The failure to make a payment on account in respect of Obligations of any Subsidiary Guarantor the Guarantees by reason of any provision of this Article Twelve will not be construed as preventing the occurrence of an Event of Default. Nothing contained in this Article Twelve shall limit the right of the Trustee or the Holders of Notes to take any action or to accelerate the maturity of the Notes pursuant to Article Six or to pursue any rights or remedies hereunder or under applicable law, subject to the rights, if any, under this Article Twelve Ten of the holders holders, from time to time, of Guarantor Senior Indebtedness of any Subsidiary Guarantor. ARTICLE THIRTEENDebt.

Appears in 1 contract

Samples: Covenants (Railworks Corp)

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