Common use of Waiver of Existing Defaults Clause in Contracts

Waiver of Existing Defaults. Subject to Sections 5.07 and 8.02, the Holders of a majority in aggregate principal amount of the Securities then outstanding, by notice to the Trustee, may waive an existing Default or Event of Default and its consequences (including waivers obtained in connection with a tender offer or exchange offer for such Securities or a solicitation of consents in respect of such Securities, provided that in each case such offer or solicitation is made to all Holders of the Securities 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, Additional Amounts, if any, or interest on the Securities or (2) a continuing Default in respect of a provision that under Section 8.02 cannot be amended 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 (Nabors Industries LTD), Indenture (Nabors Industries LTD), Indenture (Nabors Industries LTD)

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Waiver of Existing Defaults. Subject to Sections 5.07 and 8.02, the Holders of a majority in aggregate principal amount of the Securities then outstanding, outstanding by notice to the Trustee, Trustee may waive an existing Default or Event of Default and its consequences (including waivers obtained in connection with a tender offer or exchange offer for such the Securities or a solicitation of consents in respect of such the Securities, provided that in each case such offer or solicitation is made to all Holders of the Securities then outstanding on equal terms), except except (1) a continuing Default or Event of Default in the payment of the principal of or premium, if any, Additional Amounts, if any, or interest on the Securities or (2) a continuing Default in respect of a provision that under Section 8.02 cannot be amended 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 5.07 and 8.02, the Holders of a majority in aggregate principal amount of the Securities then outstanding, by notice to the Trustee, may waive an existing Default or Event of Default and its consequences (including waivers obtained in connection with a tender offer or exchange offer for such the Securities or a solicitation of consents in respect of such the Securities, provided that in each case such offer or solicitation is made to all Holders of the Securities 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, Additional Amounts, if any, or interest on the Securities or (2) a continuing Default in respect of a provision that under Section 8.02 cannot be amended 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 5.07 and 8.02, the Holders of a majority in aggregate principal amount of the Securities then outstanding, by notice to the Trustee, may waive an existing Default or Event of Default and its consequences (including waivers obtained in connection with a tender offer or exchange offer for such the Securities or a solicitation of consents in respect of such the Securities, provided that in each case such offer or solicitation is made to all Holders of the Securities then outstanding on equal terms), except except (1) a continuing Default or Event of Default in the payment of the principal of or premium, if any, Additional Amounts, if any, or interest on the Securities or (2) a continuing Default in respect of a provision that under Section 8.02 cannot be amended 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 Section 5.07 and Section 8.02, the Holders of a majority in aggregate principal amount of the outstanding Securities then outstanding, by notice to the Trustee, Trustee may waive an existing Default or Event of Default and its consequences (including waivers obtained in connection with a tender offer or exchange offer for such the Securities or a solicitation of consents in respect of such the Securities, provided that in each case such offer or solicitation is made to all Holders of the Securities then outstanding on equal terms), except except (1) a continuing Default De- fault or Event of Default in the payment of the principal of of, or premium, if any, Additional Amountsor Liquidated Damages, if any, or interest on the Securities or (2) a continuing Default in respect of a provision that under Section 8.02 hereof cannot be amended 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 (Southern Natural Gas Co)

Waiver of Existing Defaults. Subject to Sections 5.07 and 8.02, the Holders of a majority in aggregate principal amount of the Securities then outstanding, by written notice to the Trustee, may waive an existing Default or Event of Default and its consequences (including waivers obtained in connection with a tender offer or exchange offer for such Securities or a solicitation of consents in respect of such Securities, provided that in each case such offer or solicitation is made to all Holders of the Securities then outstanding on equal terms), except except (1) a continuing Default or Event of Default in the payment of the principal of or premium, if any, Additional Amounts, if any, or interest on the Securities or (2) a continuing Default in respect of a provision that under Section 8.02 cannot be amended 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 (Nabors Industries LTD)

Waiver of Existing Defaults. Subject to Sections Section 5.07 and Section 8.02, the Holders of a majority in aggregate principal amount of the outstanding Securities then outstanding, of the affected series by notice to the Trustee, Trustee may waive an existing Default or Event of Default and its consequences (including waivers obtained in connection with a tender offer or exchange offer for such Securities or a solicitation of consents in respect of such Securities, provided that in each case such offer or solicitation is made to all Holders of the such Securities then outstanding on equal terms), except, (1a) a continuing Default or Event of Default in the payment of the principal of of, or premium, if any, Additional Amountsor Liquidated Damages, if any, or interest on the such Securities or (2b) a continuing Default in respect of a provision that under Section 8.02 hereof cannot be amended 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 (El Paso Natural Gas Co)

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Waiver of Existing Defaults. Subject to Sections Section 5.07 and Section 8.02, the Holders of a majority in aggregate principal amount of the outstanding Securities then outstanding, of the affected series by notice to the Trustee, Trustee may waive an existing Default or Event of Default and its consequences (including waivers obtained in connection with a tender offer or exchange offer for such Securities or a solicitation of consents in respect of such Securities, provided that in each case such offer or solicitation is made to all Holders of the such Securities then outstanding on equal terms), except except (1a) a continuing Default or Event of Default in the payment of the principal of of, or premium, if any, Additional Amountsor Liquidated Damages, if any, or interest on the such Securities or (2b) a continuing Default in respect of a provision that under Section 8.02 hereof cannot be amended 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 (El Paso Natural Gas Co)

Waiver of Existing Defaults. Subject to Sections 5.07 and 8.02, the Holders of a majority in aggregate principal amount of the Securities then outstanding, by written notice to the Trustee, may waive an existing Default or Event of Default and its consequences (including waivers obtained in connection with a tender offer or exchange offer for such Securities or a solicitation of consents in respect of such Securities, provided that in each case such offer or solicitation is made to all Holders of the Securities 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, Additional Amounts, if any, or interest on the Securities or (2) a continuing Default in respect of a provision that under Section 8.02 cannot be amended 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 (Nabors Industries LTD)

Waiver of Existing Defaults. Subject to Sections Section 5.07 and Section 8.02, the Holders of a majority in aggregate principal amount of the outstanding Securities then outstanding, by notice to the Trustee, Trustee may waive an existing Default or Event of Default and its consequences (including waivers obtained in connection with a tender offer or exchange offer for such the Securities or a solicitation of consents in respect of such the Securities, provided that in each case such offer or solicitation is made to all Holders of the Securities 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, Additional Amountsor Liquidated Damages, if any, or interest on the Securities or (2) a continuing Default in respect of a provision that under Section 8.02 hereof cannot be amended 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 (Anr Pipeline Co)

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