Common use of Unconditional Rights of Noteholders to Receive Principal and Interest Clause in Contracts

Unconditional Rights of Noteholders to Receive Principal and Interest. Notwithstanding any other provisions in this Indenture, the Holder of any Note shall have the right, which is absolute and unconditional, to receive payment of the principal of and interest on such Note on or after the respective due dates thereof expressed in such Note or in this Indenture (or, in the case of redemption, on or after the Redemption Date) and to institute suit for the enforcement of any such payment, and such right shall not be impaired without the consent of such Holder; provided, however, that so long as an Insurer Default shall not have occurred and be continuing, no such suit shall be instituted.

Unconditional Rights of Noteholders to Receive Principal and Interest. Notwithstanding any other provisions in this IndentureTo the extent permitted by applicable law, the Holder of any Note shall have the right, which right is absolute and unconditionalunconditional except to the extent restricted by applicable law, to receive payment of the principal each instalment of interest when due and interest payable on such Note on or after the respective due dates thereof expressed in Payment Dates of such instalments of interest and to receive payment of each instalment of principal of such Note when due (or in this Indenture (or, in the case of any Note called for redemption, on or after the Redemption Datedate fixed for such redemption) and to institute suit for the enforcement of any such payment, and except as otherwise set forth in this Indenture, such right shall not be impaired without the consent of such Holder; provided, however, that so long as an Insurer Default shall not have occurred and be continuing, no such suit shall be instituted.