Common use of Waiver of Past Default Clause in Contracts

Waiver of Past Default. Subject to Section 6.8, the Holder or Holders of not less than a majority in aggregate principal amount of the outstanding Securities may, on behalf of all Holders, prior to the declaration of the acceleration of the maturity of the Securities, waive any past default hereunder and its consequences, except a default (A) in the payment of the principal of, premium, if any, or interest on, any Security as specified in clauses (1) and (2) of Section 6.1, or (B) in respect of a covenant or provision hereof which, under Article IX, cannot be modified or amended without the consent of the Holder of each outstanding Security 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 the exercise of any right arising therefrom.

Appears in 6 contracts

Samples: Indenture and Assumption Agreement (Centennial Cellular Corp), Indenture (Pricellular Corp), American Cellular Corp /De/

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Waiver of Past Default. Subject to Section 6.8, the The Holder or Holders of not less than a majority in aggregate principal amount of the then outstanding Securities may, on behalf of all Holders, prior to the declaration of the acceleration of the maturity of the Securities, waive any past default hereunder and its consequences, except a default (A) in the payment of the principal of, premium, if any, or interest on, on any Security not yet cured as specified in clauses (1) and (2) of Section 6.1, or (B) in respect of a covenant or provision hereof which, under Article IX, cannot be modified or amended without the consent of the Holder of each outstanding Security 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 the exercise of any right arising therefrom.

Appears in 1 contract

Samples: Arris Group Inc

Waiver of Past Default. Subject to Section 6.8, the Holder or Holders of not less than a majority in aggregate principal amount of the outstanding Securities may, on behalf of all Holders, prior to the declaration of the acceleration of the maturity of the Securities, waive any past default hereunder and its consequences, except a default (A) in the payment of the principal of, premium, if any, or interest on, any Security as specified in clauses (1) and (2) of Section 6.1, or (B) in respect of a covenant or provision hereof which, under Article IXVIII, cannot be modified or amended without the consent of the Holder of each outstanding Security 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 the exercise of any right arising therefrom.

Appears in 1 contract

Samples: Centennial Communications Corp /De

Waiver of Past Default. Subject to Section 6.86.8 hereof, the Holder or Holders of not less than a majority in aggregate principal amount of the outstanding Securities Notes may, on behalf of all Holders, prior to the declaration of the acceleration of the maturity of the SecuritiesNotes, waive any past default hereunder and its consequences, except a default (Aa) in the payment of the principal of, premium, if any, or interest on, on any Security Note not yet cured as specified in clauses Section 6.1(a) or (1) and (2) of Section 6.1b), or (Bb) in respect of a covenant or provision hereof which, under Article IXIX hereof, cannot be modified or amended without the consent of the Holder of each outstanding Security Note 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 the exercise of any right arising therefrom.

Appears in 1 contract

Samples: Indenture (Southern Pacific Funding Corp)

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Waiver of Past Default. Subject to Section 6.87.8, the Holder or Holders of not less than a majority in aggregate principal amount of the outstanding Securities may, on behalf of all Holders, prior to the declaration of the acceleration of the maturity of the Securities, waive any past default hereunder and its consequences, except a default (A) in the payment of the principal of, premium, if any, or interest on, any Security as specified in clauses (1) and (2) of Section 6.17.1 and not yet cured, or (B) in respect of a covenant or provision hereof which, under Article IXX, cannot be modified or amended without the consent of the Holder of each outstanding Security affected, unless all such affected Holders agree, in writing, to waive such Event of Default or other event. 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 the exercise of any right arising therefrom.. SECTION 7.13

Appears in 1 contract

Samples: Laboratory Corp of America Holdings

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