Common use of Waiver of Defaults and Events of Default Clause in Contracts

Waiver of Defaults and Events of Default. Subject to Sections 8.7 and 11.2, the Holders of a majority in principal amount of the Securities then outstanding by notice to the Trustee may waive an existing default or Event of Default and its consequence, except a default in the payment of the principal of or interest on any Security as specified in clauses (1) and (2) of Section 8. 1. When a default or Event of Default is waived, it is cured and ceases.

Appears in 6 contracts

Samples: Indenture (American Skiing Co /Me), Indenture (Boston Chicken Inc), Indenture (Asc Holdings Inc)

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Waiver of Defaults and Events of Default. Subject to Sections 8.7 and 11.2Section 8.7, the Holders of a majority in principal amount of the Securities then outstanding by notice to the Trustee may waive an existing default or Event of Default and its consequenceconsequences, except a default in the payment of the principal of (or premium, if any) or interest on any Security as specified in clauses (1) and (2) of Section 8. 18.1, or a default in respect of a covenant or provision hereof which cannot be modified or amended pursuant to Section 11.2 without the consent of the Holder of each Security affected thereby. When a default or Event of Default is waived, it is cured and ceases.

Appears in 5 contracts

Samples: Indenture (Manugistics Group Inc), Indenture (Nco Group Inc), Indenture (Waste Connections Inc/De)

Waiver of Defaults and Events of Default. Subject to Sections 8.7 8.07 and 11.211.02, the Holders of a majority in principal amount of the Securities then outstanding by written notice to the Trustee may waive an existing default or Event of Default and its consequenceconsequences, except a default in the payment of the principal of or interest on any Security as specified in clauses (1) and (2) of Section 8. 18.01. When a default or Event of Default is waived, it is cured and ceases.

Appears in 2 contracts

Samples: Indenture (Smurfit Stone Container Corp), Indenture (Smurfit Stone Container Corp)

Waiver of Defaults and Events of Default. Subject to Sections 8.7 8.07 and 11.211.02, the Holders of a majority in principal amount of the Securities then outstanding by notice to the Trustee may waive an existing default or Event of Default and its consequenceconsequences, except a default in the payment of the principal of or interest on any Security as specified in clauses (1) and (2) of Section 8. 18.01. When a default or Event of Default is waived, it is cured and ceases.

Appears in 2 contracts

Samples: Indenture (Westmoreland Coal Co), Indenture (Birner Dental Management Services Inc)

Waiver of Defaults and Events of Default. Subject to Sections 8.7 and 11.2, the Holders of a majority in principal amount of the Securities Debentures then outstanding by notice to the Trustee may waive an existing default or Event of Default and its consequenceconsequences, except a default in the payment of the principal of or interest on any Security Debenture as specified in clauses (1) and (2) of Section 8. 18.1 or a failure by the Company to convert any Debenture into Common Stock in accordance with Article 4. When a default or Event of Default is waived, it is cured and ceases.

Appears in 2 contracts

Samples: Indenture (Mci Worldcom Inc), Indenture (Skytel Communications Inc)

Waiver of Defaults and Events of Default. Subject to Sections 8.7 and 11.2, the Holders of a majority in principal amount of the Securities then outstanding by notice to the Trustee may waive an existing default or Event of Default and its consequence, except a default or Event of Default in the payment of the principal of or interest on any Security as specified or any default or Event of Default in clauses (1) and (2) respect of any provision of this Indenture or the Securities which, under Section 8. 111.2, cannot be modified or amended without the consent of the Holder of each Security affected. When a default or Event of Default is waived, it is cured and ceases.

Appears in 2 contracts

Samples: Indenture (Beyond Com Corp), Indenture (Usinternetworking Inc)

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Waiver of Defaults and Events of Default. Subject to Sections Section 8.7 and 11.2, the Holders of a majority in principal amount of the Securities then outstanding by notice to the Trustee may waive an existing default or Event of Default and its consequenceconsequences, except a default in the payment of the principal of or interest on any Security as specified in clauses (1) and (2) of Section 8. 1. When a default or Event of Default is waived, it is cured and ceases.

Appears in 1 contract

Samples: Indenture (Sterling Software Inc)

Waiver of Defaults and Events of Default. Subject to Sections 8.7 7.7 and 11.210.2, the Holders of a majority in principal amount of the Securities then outstanding by notice to the Trustee may waive an existing default or Event of Default and its consequence, except a default in the payment of the principal of or interest on any Security as specified in clauses (1) and (2) of Section 8. 17.1. When a default or Event of Default is waived, it is cured and ceases.

Appears in 1 contract

Samples: Indenture (Global Telesystems Group Inc)

Waiver of Defaults and Events of Default. Subject to Sections 8.7 7.7 and 11.210.2, the Holders of a majority in principal amount of the Securities then outstanding by notice to a Trust Officer of the Trustee may waive an existing default or Event of Default and its consequence, except a default in the payment of the principal of or interest on any Security as specified in clauses (1) and (2) of Section 8.Section 17.1. When a default or Event of Default is waived, it is cured and ceases.

Appears in 1 contract

Samples: Indenture (Commonwealth Telephone Enterprises Inc /New/)

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