Common use of Waiver of Existing Defaults Clause in Contracts

Waiver of Existing Defaults. Subject to Sections 6.07 and 9.02, the Holders of a majority in principal amount of the then outstanding Securities of any series or of all series (acting as one class) by notice to the Trustee may waive an existing or past Default or Event of Default with respect to such series or all series, as the case may be, and its consequences (including waivers obtained in connection with a tender offer or exchange offer for Securities of such series or all series or a solicitation of consents in respect of Securities of such series or all series, provided that in each case such offer or solicitation is made to all Holders of then outstanding Securities of such series or all series (but the terms of such offer or solicitation may vary from series to series)), except (1) a continuing Default or Event of Default in the payment of the principal of, or premium, if any, or interest on or any Additional Amounts with respect to any Security or (2) a continued Default in respect of a provision that under Section 9.02 cannot be amended or supplemented without the consent of each Holder affected. Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereon.

Appears in 5 contracts

Samples: Senior Debt Indenture (Lyondell Trust Iii), Subordinated Debt Indenture (Lyondell Trust Iii), Indenture (Cabot Oil & Gas Corp)

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Waiver of Existing Defaults. Subject to Sections 6.07 5.07 and 9.028.02 hereof, the Holders of a majority in principal amount of the then outstanding Securities of any series or of all series (acting as one class) by notice to the Trustee may waive an existing or past Default or Event of Default with respect to such series or all series, as the case may be, and its consequences (including waivers obtained in connection with a tender offer or exchange offer for the Securities of such series or all series or a solicitation of consents in respect of Securities of such series or all seriesthe Securities, provided that in each case such offer or solicitation is made to all Holders of the Securities then outstanding Securities of such series or all series (but the terms of such offer or solicitation may vary from series to series)on equal terms), except except (1) a continuing Default or Event of Default in the payment of the principal of, or premium, if any, or interest on or any Additional Amounts with respect to any Security the Securities or (2) a continued continuing Default in respect of a provision that under Section 9.02 8.02 hereof cannot be amended or supplemented without the consent of each Holder affected. Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereon.

Appears in 3 contracts

Samples: Indenture (Transcontinental Gas Pipe Line Corp), Indenture (Transcontinental Gas Pipe Line Corp), Indenture (Williams Companies Inc)

Waiver of Existing Defaults. Subject to Sections 6.07 5.07 and 9.028.02, the Holders of a majority in aggregate principal amount of the then outstanding Securities of any either series or of all series (acting as one class) then outstanding, by notice to the Trustee Trustee, may waive an existing or past Default or Event of Default with respect to such that series or all series, as the case may be, and its consequences (including waivers obtained in connection with a tender offer or exchange offer for such Securities of such series or all series or a solicitation of consents in respect of Securities of such series or all seriesSecurities, provided that in each case such offer or solicitation is made to all Holders of the Securities of that series then outstanding Securities of such series or all series (but the terms of such offer or solicitation may vary from series to series)on equal terms), except except (1) a continuing Default or Event of Default in the payment of the principal of, of or premium, if any, Additional Amounts, if any, or interest on or any Additional Amounts with respect to any Security the Securities of that series or (2) a continued continuing Default relating to that series in respect of a provision that under Section 9.02 8.02 cannot be amended or supplemented without the consent of each Holder affected. Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereon.

Appears in 2 contracts

Samples: Indenture (Nabors Industries LTD), Indenture (Nabors Industries LTD)

Waiver of Existing Defaults. Subject to Sections 6.07 5.07 and 9.028.02, the Holders of a majority in aggregate principal amount of the then outstanding Securities of any series or of all series (acting as one class) then outstanding, by notice to the Trustee given in conformity with Section 11.02, may waive an existing or past Default or Event of Default with respect to such that series or all series, as the case may be, and its consequences (including waivers obtained in connection with a tender offer or exchange offer for such Securities of such series or all series or a solicitation of consents in respect of Securities of such series or all seriesSecurities, provided that in each case such offer or solicitation is made to all Holders of the Securities of that series then outstanding Securities of such series or all series (but the terms of such offer or solicitation may vary from series to series)on equal terms), except except (1) a continuing Default or Event of Default in the payment of the principal of, of or premium, if any, or interest on or any Additional Amounts with respect to any Security the Securities of that series or (2) a continued continuing Default relating to that series in respect of a provision that under Section 9.02 8.02 cannot be amended or supplemented without the consent of each Holder affected. Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereon.

Appears in 2 contracts

Samples: Indenture (Columbia Pipeline Group, Inc.), Indenture (Nisource Inc/De)

Waiver of Existing Defaults. Subject to Sections 6.07 5.07 and 9.028.02, the Holders of a majority in aggregate principal amount of the Securities then outstanding Securities of any series or of all series (acting as one class) by notice to the Trustee may waive an existing or past Default or Event of Default with respect to such series or all series, as the case may be, and its consequences (including waivers obtained in connection with a tender offer or exchange offer for the Securities of such series or all series or a solicitation of consents in respect of Securities of such series or all seriesthe Securities, provided that in each case such offer or solicitation is made to all Holders of the Securities then outstanding Securities of such series or all series (but the terms of such offer or solicitation may vary from series to series)on equal terms), except except (1) a continuing Default or Event of Default in the payment of the principal of, of or premium, if any, Liquidated Damages, if any, Additional Amounts, if any, or interest on or any Additional Amounts with respect to any Security the Securities or (2) a continued continuing Default in respect of a provision that under Section 9.02 8.02 cannot be amended or supplemented without the consent of each Holder affected. Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereon.

Appears in 2 contracts

Samples: Indenture (Nabors Industries LTD), Indenture (Nabors Industries LTD)

Waiver of Existing Defaults. Subject to Sections 6.07 5.07 and 9.028.02 hereof, the Holders of a majority in principal amount of the then outstanding Securities of any series or of all series (acting as one class) then outstanding by notice to the Trustee may waive an existing or past Default or Event of Default with respect to such series or all series, as the case may be, and its consequences (including waivers obtained in connection with a tender offer or exchange offer for the Securities of such series or all series or a solicitation of consents in respect of the Securities of such series or all series, provided that in each case such offer or solicitation is made to all Holders of then outstanding the Securities of such series or all series (but the terms of such offer or solicitation may vary from series to series)then outstanding on equal terms), except (1) a continuing Default or Event of Default in the payment of the principal of, or premium, if any, or interest on or the Securities of any Additional Amounts with respect to any Security series or (2) a continued continuing Default in respect of a provision that under Section 9.02 8.02 hereof cannot be amended or supplemented without the consent of each Holder affected. Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereon.

Appears in 2 contracts

Samples: Indenture (R&b Falcon Corp), Indenture (R&b Falcon Corp)

Waiver of Existing Defaults. Subject to Sections 6.07 5.07 and 9.028.02 hereof, the Holders of a majority in principal amount of the then outstanding Securities of any series or of all series (acting as one class) by notice to the Trustee may waive an existing or past Default or Event of Default with respect to such series or all series, as the case may be, and its consequences (including waivers obtained in connection with a tender offer or exchange offer for Securities of such series or all series or a solicitation of consents in respect of Securities of such series or all seriesSecurities, provided that in each case such offer or solicitation is made to all Holders of then outstanding Securities of such series or all series (but the terms of such offer or solicitation may vary from series to series)on equal terms), except except (1) a continuing Default or Event of Default in the payment of the principal of, or premium, if any, or interest on or any Additional Amounts with respect to any Security or (2) a continued Default in respect of a provision that under Section 9.02 8.02 hereof cannot be amended or supplemented without the consent of each Holder affected. Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereon.

Appears in 1 contract

Samples: Indenture (Environmental Procedures Inc)

Waiver of Existing Defaults. Subject to Sections 6.07 5.07 and 9.028.02 hereof, the Holders of a majority in principal amount of the then outstanding Securities of any series or of all series (acting as one class) by notice to the Trustee may waive an existing or past Default or Event of Default with respect to such series or all series, as the case may be, and its consequences (including waivers obtained in connection with a tender offer or exchange offer for Securities of such series or all series or a solicitation of consents in respect of Securities of such series or all seriesSecurities, provided that in each case such offer or solicitation is made to all Holders of then outstanding Securities of such series or all series (but the terms of such offer or solicitation may vary from series to series)on equal terms), except (1) a continuing Default or Event of Default in the payment of the principal of, or premium, if any, or interest on or any Additional Amounts with respect to any Security or (2) a continued continuing Default in respect of a provision that under Section 9.02 8.02 hereof cannot be amended or supplemented without the consent of each Holder affected. Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereon.

Appears in 1 contract

Samples: Indenture (Pure Resources Inc)

Waiver of Existing Defaults. Subject to Sections 6.07 5.07 and 9.028.02 hereof, the Holders of a majority in principal amount of the then outstanding Securities of any series or of all series (acting as one class) by notice to the Trustee may waive an existing or past Default or Event of Default with respect to such series or all series, as the case may be, and its consequences (including waivers obtained in connection with a tender offer or exchange offer for Securities of such series or all series or a solicitation of consents in respect of Securities of such series or all seriesSecurities, provided that in each case such offer or solicitation is made to all Holders of then outstanding Securities of such series or all series (but the terms of such offer or solicitation may vary from series to series)on equal terms), except (1) a continuing Default or Event of Default in the payment of the principal of, or premium, if any, or interest on or any Additional Amounts with respect to any Security or (2) a continued Default in respect of a provision that under Section 9.02 8.02 hereof cannot be amended or supplemented without the consent of each Holder affected. Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereon.

Appears in 1 contract

Samples: Indenture (Fiber Glass Systems Lp)

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Waiver of Existing Defaults. Subject to Sections 6.07 and 9.02, the Holders of a majority in principal amount of the then outstanding Securities of any series or of all series (acting as one class) by notice to the Trustee may waive an existing or past Default or Event of Default with respect to such series or all series, as the case may be, and its consequences (including waivers obtained in connection with a tender offer or exchange offer for Securities of such series or all series or a solicitation of consents in respect of Securities of such series or all series, provided that in each case such offer or solicitation is made to all Holders of then outstanding Securities of such series or all series (but the terms of such offer or solicitation may vary from series to series)), except except (1) a continuing Default or Event of Default in the payment of the principal of, or premium, if any, or interest on or any Additional Amounts with respect to any Security or (2) a continued Default in respect of a provision that under Section 9.02 cannot be amended or supplemented without the consent of each Holder affected. Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereon.

Appears in 1 contract

Samples: Subordinated Indenture (Cabot Oil & Gas Corp)

Waiver of Existing Defaults. Subject to Sections 6.07 5.07 and 9.028.02 hereof, the Holders of a majority in principal amount of the then outstanding Securities of any series or of all series (acting as one class) then outstanding by notice to the Trustee may waive an existing or past Default or Event of Default with respect to such series or all series, as the case may be, and its consequences (including waivers obtained in connection with a tender offer or exchange offer for the Securities of such series or all series or a solicitation of consents in respect of the Securities of such series or all series, provided that in each case such offer or solicitation is made to all Holders of then outstanding Securities of such series or all series (but the terms of such offer or solicitation may vary from series to series)), except, (1) a continuing Default or Event of Default in the payment of the principal of, or premium, if any, Liquidated Damages, if any, or interest on or the Securities of any Additional Amounts with respect to any Security series or (2) a continued continuing Default in respect of a provision that under Section 9.02 8.02 hereof cannot be amended or supplemented without the consent of each Holder affected. Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereon.

Appears in 1 contract

Samples: Indenture (Anadarko Petroleum Corp)

Waiver of Existing Defaults. Subject to Sections 6.07 5.07 and 9.028.02, the Holders of a majority in principal amount of the then outstanding Securities of any series or of all series (acting as one class) then outstanding by notice to the Trustee may waive an existing or past Default or Event of Default with respect to such series or all series, as the case may be, and its consequences (including waivers obtained in connection with a tender offer or exchange offer for the Securities of such series or all series or a solicitation of consents in respect of the Securities of such series or all series, provided that in each case such offer or solicitation is made to all Holders of then outstanding the Securities of such series or all series (but the terms of such offer or solicitation may vary from series to series)then outstanding on equal terms), except except (1) a continuing Default or Event of Default in the payment of the principal of, of or premium, if any, Liquidated Damages, if any, Additional Amounts, if any, or interest on or the Securities of any Additional Amounts with respect to any Security series or (2) a continued continuing Default in respect of a provision that under Section 9.02 8.02 cannot be amended or supplemented without the consent of each Holder affected. Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereon.

Appears in 1 contract

Samples: Indenture (Devon Energy Corp/De)

Waiver of Existing Defaults. Subject to Sections 6.07 5.07 and 9.028.02 hereof, the Holders of a majority in principal amount of the then outstanding Securities of any series or of all series (acting as one class) by notice to the Trustee may waive an existing or past Default or Event of Default with respect to such series or all series, as the case may be, and its consequences (including waivers obtained in connection with a tender offer or exchange offer for the Securities of such series or all series or a solicitation of consents in respect of Securities of such series or all seriesthe Securities, provided that in each case such offer or solicitation is made to all Holders of the Securities then outstanding Securities of such series or all series (but the terms of such offer or solicitation may vary from series to series)on equal terms), except (1) a continuing Default or Event of Default in the payment of the principal of, or premium, if any, or interest on or any Additional Amounts with respect to any Security the Securities or (2) a continued continuing Default in respect of a provision that under Section 9.02 8.02 hereof cannot be amended or supplemented without the consent of each Holder affected. Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereon.

Appears in 1 contract

Samples: Indenture (Transcontinental Gas Pipe Line Corp)

Waiver of Existing Defaults. Subject to Sections 6.07 and 9.02, the Holders of a majority in principal amount of the then outstanding Securities of any series or of all series (acting as one class) by notice to the Trustee may waive an existing or past Default or Event of Default with respect to such series or all series, as the case may be, and its consequences (including waivers obtained in connection with a tender offer or exchange offer for Securities of such series or all series or a solicitation of consents in respect of Securities of such series or all series, provided that in each case such offer or solicitation is made to all Holders of then outstanding Securities of such series or all series (but the terms of such offer or solicitation may vary from series to series)), except (1) a continuing Default or Event of Default in the payment of the principal of, or premium, if any, or interest on or any Additional Amounts with respect to any Security of such series or (2) a continued Default in respect of a provision that under Section 9.02 cannot be amended or supplemented without the consent of the Holder of each Holder outstanding Security of such series affected. Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereon.

Appears in 1 contract

Samples: Indenture (Pogo Producing Co)

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