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 aggregate principal amount of the Securities then outstanding of a series by notice to the Trustee may waive an existing default or Event of Default and its consequence with respect to such series, except a default or Event of Default in the payment of the principal of, premium, if any, or interest or Additional Interest, if any, on any Security when due, a failure by the Obligors to convert any Securities into Common Stock or any default or Event of Default in respect of any provision of this Indenture or the Securities which, under Section 11.2, 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 (Valeant Pharmaceuticals International, Inc.), Indenture (Valeant Pharmaceuticals International)

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Waiver of Defaults and Events of Default. Subject to Sections 8.7 8.02, 8.07 and 11.211.02, the Holders of a majority in aggregate principal amount of the Securities then outstanding of a series by notice to the Trustee may waive an existing default Default or Event of Default and its consequence with respect to such seriesconsequences, except a default an uncured Default or Event of Default in the payment of the principal of, premium, if any, or any accrued but unpaid interest or Additional Interest, if any, on any Security when dueSecurity, a an uncured failure by the Obligors Company to convert any Securities into Common Stock or any default Default or Event of Default in respect of any provision of this Indenture Indenture, the Guarantee or the Securities which, under Section 11.211.02, cannot be modified or amended without the consent of the Holder of each Security affected. When a default Default or Event of Default is waived, it is cured and ceasesceases to exist.

Appears in 2 contracts

Samples: Indenture (AbitibiBowater Inc.), Indenture (Bowater Inc)

Waiver of Defaults and Events of Default. Subject to Sections 8.7 7.07 and 11.210.02, the Holders of a majority in aggregate principal amount of the Securities then outstanding of a series by notice to the Trustee may waive an existing default Default or Event of Default and its consequence with respect to such seriesDefault, except a default or Event of Default in if the payment of Company fails to pay the principal of, premium, if any, or interest or Additional any accrued but unpaid interest, including Contingent Interest, if any, on any Security when dueSecurity, a failure by the Obligors Company fails to convert any Securities into cash or, if applicable, Common Stock Stock, or any default Default or Event of Default in respect of any provision of this Indenture or the Securities which, under Section 11.210.02, cannot be modified or amended without the consent of the Holder of each Security affected. When a default Default or Event of Default is waived, it is cured and ceasesceases to exist.

Appears in 1 contract

Samples: Indenture (American Medical Systems Holdings Inc)

Waiver of Defaults and Events of Default. Subject to Sections 8.7 7.07 and 11.210.02, the Holders of a majority in aggregate principal amount of the Securities then outstanding of a series by notice to the Trustee may waive an existing default Default or Event of Default and its consequence with respect to such seriesconsequences, except a default or Event of Default in if the payment of Company fails to pay the principal of, premium, if any, or interest or Additional any accrued but unpaid interest, including Contingent Interest, if any, on any Security when dueSecurity, a failure by the Obligors Company fails to convert any Securities into cash or, if applicable, Common Stock Stock, or any default Default or Event of Default in respect of any provision of this Indenture or the Securities which, under Section 11.210.02, cannot be modified or amended without the consent of the Holder of each Security affected. When a default Default or Event of Default is waived, it is cured and ceasesceases to exist.

Appears in 1 contract

Samples: Indenture (American Medical Systems Holdings Inc)

Waiver of Defaults and Events of Default. Subject to Sections 8.7 7.07 and 11.210.02, the Holders of a majority in aggregate principal amount of the Securities then outstanding of a series by notice to the Trustee may waive an existing default Default or Event of Default and its consequence with respect to such seriesconsequences, except a default an uncured Default or Event of Default in the payment of the principal of, premium, if any, or any accrued but unpaid interest or Additional Interest, if any, on any Security when dueSecurity, a an uncured failure by the Obligors Company to convert any Securities into Common Stock or any default Default or Event of Default in respect of any provision of this Indenture or the Securities which, under Section 11.210.02, cannot be modified or amended without the consent of the Holder of each Security affected. When a default Default or Event of Default is waived, it is cured and ceases.

Appears in 1 contract

Samples: Indenture (Pinnacle Airlines Corp)

Waiver of Defaults and Events of Default. Subject to Sections 8.7 7.07 and 11.210.02 hereof, the Holders of a majority in aggregate principal amount of the Securities then outstanding of a series by notice to the Trustee may waive an existing default Default or Event of Default and its consequence with respect to such seriesconsequences, except a default an uncured Default or Event of Default in the payment of the principal of, premium, if any, or any accrued but unpaid interest or Additional Interest, if any, on any Security when dueSecurity, a an uncured failure by the Obligors Company to convert any Securities into Common Stock or any default Default or Event of Default in respect of any provision of this the Indenture or the Securities which, under Section 11.210.02 hereof, cannot be modified or amended without the consent of the Holder of each Security affected. When a default Default or Event of Default is waived, it is cured and ceases.

Appears in 1 contract

Samples: First Supplemental Indenture (Hutchinson Technology Inc)

Waiver of Defaults and Events of Default. Subject to Sections 8.7 Section 9.07 and 11.212.02, the Holders of a majority in aggregate principal amount of the Securities then outstanding of a series by notice to the Trustee may waive an existing default or Event of Default and its consequence with respect to such seriesconsequence, except a default or Event of Default in the payment of the principal of, or premium, if any, or interest or Additional Intereston, if any, on any Security when dueSecurity, a failure by the Obligors Company to convert any Securities into Cash or shares of Common Stock Stock, if any, or any default or Event of Default in respect of any provision of this Indenture or the Securities which, under Section 11.212.02, 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 1 contract

Samples: Indenture (Polymedica Corp)

Waiver of Defaults and Events of Default. Subject to Sections 8.7 7.07 and 11.210.02, the Holders of a majority in aggregate principal amount of the Securities then outstanding of a series by notice to the Trustee may waive an existing default Default or Event of Default and its consequence with respect to such seriesconsequences, except a default an uncured Default or Event of Default in the payment of the principal of, premium, if any, or any accrued but unpaid interest or Additional Interest, if any, on any Security when dueSecurity, a an uncured failure by the Obligors Company to convert any Securities into Common Stock and cash, as applicable, or any default Default or Event of Default in respect of any provision of this Indenture or the Securities which, under Section 11.210.02, cannot be modified or amended without the consent of the Holder of each Security affected. When a default Default or Event of Default is waived, it is cured and ceasesceases to exist.

Appears in 1 contract

Samples: Indenture (American Oriental Bioengineering Inc)

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Waiver of Defaults and Events of Default. Subject to Sections 8.7 Section 7.08 and 11.2Section 10.02, the Holders of a majority in aggregate principal amount of the Securities then outstanding of a series by written notice to the Trustee may waive an existing default or Event of Default and its consequence consequences, except with respect to such series, except a default or Event of Default in the payment (a) nonpayment of the principal of, premium, if any, or interest or Additional Interestof and accrued and unpaid interest, if any, on any Security when dueSecurity, (b) a failure by the Obligors Company to convert any pay or deliver the consideration due upon conversion in accordance with the provisions of the Securities into Common Stock or and this Indenture, (c) any default or Event of Default in respect of any provision of this Indenture or the Securities whichthat, under Section 11.210.02, cannot be modified or amended without the consent of each affected Holder or (d) a failure by the Holder Company to make any repurchase of each Security affectedSecurities when required by this Indenture. When a default or Event of Default is waived, it is cured and ceases.

Appears in 1 contract

Samples: Indenture (Ezcorp Inc)

Waiver of Defaults and Events of Default. Subject to Sections 8.7 6.7 and 11.29.2 hereof, the Holders of a majority in aggregate principal amount of the Securities then outstanding of a series by notice to the Trustee may waive an existing default Default or Event of Default and its consequence with respect to such seriesconsequence, except a default Default or Event of Default in the payment of the principal of, premium, if any, or interest or Additional Interest, if any, on any Security when due, a failure by the Obligors to convert any Securities into Common Stock due or any default Default or Event of Default in respect of any provision of this Indenture or the Securities which, under Section 11.29.2 hereof, cannot be modified or amended without the consent of the Holder of each Security affected. When a default Default or Event of Default is waived, it is cured and ceases.

Appears in 1 contract

Samples: Indenture (Ribapharm Inc)

Waiver of Defaults and Events of Default. Subject to Sections 8.7 Section 8.02, Section 8.07 and 11.2Section 11.02, the Holders of a majority in aggregate principal amount of the Securities then outstanding of a series by notice to the Trustee may waive an existing default Default or Event of Default and its consequence with respect to such seriesconsequence, except a default Default or Event of Default in the payment of the principal of, premium, if any, interest on or interest or Additional Interestthe Make Whole Premium, if any, on any Security when dueSecurity, a failure by the Obligors Company to convert any Securities into Cash and Common Stock (if any), as the case may be, or any default Default or Event of Default in respect of any provision of this Indenture or the Securities whichthat, under Section 11.211.02, cannot be modified or amended without the consent of the Holder of each Security affected. When a default Default or Event of Default is waived, it is cured and ceases.

Appears in 1 contract

Samples: Indenture (Century Aluminum Co)

Waiver of Defaults and Events of Default. Subject to Sections 8.7 7.7 and 11.210.2, the Holders of a majority in aggregate principal amount of the Securities then outstanding of a series by notice to the Trustee may waive an existing default Default or Event of Default and its consequence with respect to such seriesconsequences, except a default an uncured Default or Event of Default in the payment of the principal of, premium, if any, or any accrued but unpaid interest or Additional Interest, if any, on any Security when dueSecurity, a an uncured failure by the Obligors Company to convert any Securities into Common Stock Shares or any default Default or Event of Default in respect of any provision of this Indenture or the Securities which, under Section 11.210.2, cannot be modified or amended without the consent of the Holder of each Security affected. When a default Default or Event of Default is waived, it is cured and ceases.

Appears in 1 contract

Samples: Indenture (ACE Aviation Holdings Inc.)

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