Common use of Waiver of Existing Defaults Clause in Contracts

Waiver of Existing Defaults. Subject to Section 9.02, the Holders of a majority in principal amount of the outstanding Securities of a Series on behalf of all the Holders of the Series by notice to the Trustee may waive an existing Default on such Series and its consequences. When a Default is waived, it is cured and stops continuing, and any Event of Default arising therefrom shall be deemed to have been cured; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereon.

Appears in 18 contracts

Samples: Indenture (Standard Pacific Corp /De/), Indenture (Key Production Co Inc), Indenture (Richmond American Homes of Northern California Inc)

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Waiver of Existing Defaults. Subject to Section 9.0210.02, the Holders of a majority in principal amount of the outstanding Securities of a Series on behalf of all the Holders of the Series by notice to the Trustee may waive an existing Default on such Series and its consequences. When a Default is waived, it is cured and stops continuing, and any Event of Default arising therefrom shall be deemed to have been cured; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereon.

Appears in 12 contracts

Samples: Indenture (Horton D R Inc /De/), Indenture (Horton D R Inc /De/), Indenture (Collins & Aikman Products Co)

Waiver of Existing Defaults. Subject to Section 9.02, the Holders of a majority in aggregate principal amount of the outstanding Securities of a Series on behalf of all the Holders of the Series any series by notice to the Trustee may waive on behalf of the Holders of all the Securities of such series and any related coupons an existing Default on such Series or Event of Default and its consequences. When a Default or Event of Default is waived, it is cured and stops continuing, and any Event of Default arising therefrom shall be deemed to have been cured; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereon.

Appears in 2 contracts

Samples: Tele Communications Inc /Co/, Tele Communications Inc /Co/

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Waiver of Existing Defaults. Subject to Section 9.029.2, and unless a Bond Resolution or Supplemental Indenture otherwise provides, the Holders of a majority in principal amount of the outstanding Securities of a Series on behalf of all the Holders of the Series series by notice to the Trustee may waive an consent to the waiver of a past or existing Default or Event of Default on such Series the series and its consequences. When a Default or Event of Default is waived, it is cured and stops continuing, and any Event of Default arising therefrom shall be deemed to have been cured; but no . No such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent or consequence thereon.

Appears in 1 contract

Samples: Subordinated Indenture (Delphi Financial Group Inc/De)

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