Common use of Waiver of Past Defaults and Events of Default Clause in Contracts

Waiver of Past Defaults and Events of Default. Subject to Sections 2.09, 6.02, 6.07 and 8.02 hereof, the Holders of a majority in principal amount of the Notes then outstanding have the right to waive past Defaults or Events of Default under this Indenture except a default in the payment of the principal of, or interest or premium, if any, on any Note as specified in clauses (a) and (b) of Section 6.01 or in respect of a covenant or a provision which cannot be modified or amended without the consent of all Holders as provided for in Section 8.02. The Company shall deliver to the Trustee an Officers’ Certificate stating that the requisite percentage of Holders have consented to such waiver and attaching copies of such consents. In case of any such waiver, the Company, the Trustee and the Holders shall be restored to their former positions and rights hereunder and under the Notes, respectively. This paragraph of this Section 6.04 shall be in lieu of Section 316(a)(1)(B) of the TIA and such Section 316(a)(1)(B) of the TIA is hereby expressly excluded from this Indenture and the Notes, as permitted by the TIA. 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 Event of Default or impair any right consequent thereto.

Appears in 6 contracts

Samples: Indenture (CNH Industrial Capital LLC), Indenture (CNH Industrial Capital LLC), Indenture (CNH Capital LLC)

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Waiver of Past Defaults and Events of Default. Subject to Sections 2.09, 6.02, 6.07 and 8.02 hereof, the Holders of a majority in aggregate principal amount of the Notes then outstanding have the right to waive past Defaults or Events of Default under this Indenture except a default Default or Event of Default in the payment of the principal of, of or interest or premium, if any, on any Note as specified in clauses (a) and (b) of Section 6.01 or in respect of a covenant or a provision which cannot be modified or amended without the consent of all Holders as provided for in Section 8.02. The Company Issuer shall deliver to the Trustee an Officers’ Certificate stating that the requisite percentage of Holders have consented to such waiver and attaching copies of such consentswaiver. In case of any such waiver, the CompanyIssuer, the Trustee and the Holders shall be restored to their former positions and rights hereunder and under the Notes, respectively. This paragraph of this Section 6.04 shall be in lieu of Section 316(a)(1)(B) of the TIA and such Section 316(a)(1)(B) of the TIA is hereby expressly excluded from this Indenture and the Notes, as permitted by the TIA. 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 Event of Default or impair any right consequent thereto.

Appears in 5 contracts

Samples: Indenture (Hercules Offshore, Inc.), Indenture (Hercules Offshore, Inc.), Indenture (Hercules Offshore, Inc.)

Waiver of Past Defaults and Events of Default. Subject to Sections 2.09, 6.02, 6.07 and 8.02 hereof, the Holders of a majority in aggregate principal amount of the Notes then outstanding have the right to waive past Defaults or Events of Default under this Indenture except a default Default or Event of Default in the payment of the principal of, or interest or premiumon, if any, on any Note as specified in clauses (a) and (b) of Section 6.01 or in respect of a covenant or a provision which cannot be modified or amended without the consent of all Holders as provided for in Section 8.026.01. The Company Issuer shall deliver to the Trustee an Officers’ Certificate stating that the requisite percentage of Holders have consented to such waiver and attaching copies of such consents. In case of any such waiver, the CompanyIssuer, the Trustee and the Holders shall be restored to their former positions and rights hereunder and under the Notes, respectively. This paragraph of this Section 6.04 shall be in lieu of Section 316(a)(1)(B) of the TIA and such Section 316(a)(1)(B) of the TIA is hereby expressly excluded from this Indenture and the Notes, as permitted by the TIA. 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 Event of Default or impair any right consequent thereto.

Appears in 4 contracts

Samples: Indenture (American Greetings Corp), Indenture (American Greetings Corp), Indenture (American Greetings Corp)

Waiver of Past Defaults and Events of Default. Subject to Sections 2.096.2, 6.02, 6.07 6.7 and 8.02 8.2 hereof, the Holders of not less than a majority in aggregate principal amount of the outstanding Notes then outstanding have may on behalf of the right to Holders of all the Notes waive any past Defaults or Events of Default default under this Indenture and its consequences, except a default (1) in the any payment in respect of the principal ofprincipal, or interest or premium, if any, on Redemption Price or Purchase Price of, and accrued interest on, any Notes (including any Note as specified in clauses which is required to have been purchased pursuant to an Offer to Purchase which has been made by the Issuers), or (a2) and (b) of Section 6.01 or in respect of a covenant or a provision hereof which under this Indenture cannot be modified or amended without the consent of all Holders as provided for in Section 8.02. The Company shall deliver to the Trustee an Officers’ Certificate stating that the requisite percentage Holder of Holders have consented to such waiver and attaching copies of such consents. In case of any such waiver, the Company, the Trustee and the Holders shall be restored to their former positions and rights hereunder and under the Notes, respectively. This paragraph of this Section 6.04 shall be in lieu of Section 316(a)(1)(B) of the TIA and such Section 316(a)(1)(B) of the TIA is hereby expressly excluded from this Indenture and the Notes, as permitted by the TIAeach outstanding 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 Event of Default or impair any right consequent consequence thereto.

Appears in 3 contracts

Samples: Indenture (Petro Financial Corp), Indenture (Petro Stopping Centers L P), Indenture (Petro Stopping Centers Holdings Lp)

Waiver of Past Defaults and Events of Default. Subject to Sections 2.09, 6.02, 6.07 and 8.02 hereof, the Holders of a majority in aggregate principal amount of the Notes then outstanding have the right to waive past Defaults or Events of Default under this Indenture except a default Default or Event of Default in the payment of the principal of, or interest or premiumLiquidated Damages, if any, on any Note as specified in clauses (a) and (b) of Section 6.01 or in respect of a covenant or a provision which cannot be modified or amended without the consent of all Holders as provided for in Section 8.02. The Company Issuer shall deliver to the Trustee an Officers’ Certificate stating that the requisite percentage of Holders have has consented to such waiver and attaching copies of such consentswaiver. In case of any such waiver, the CompanyIssuer, the Trustee and the Holders shall be restored to their former positions and rights hereunder and under the Notes, respectively. This paragraph of this Section 6.04 shall be in lieu of Section 316(a)(1)(B) of the TIA and such Section 316(a)(1)(B) of the TIA is hereby expressly excluded from this Indenture and the Notes, as permitted by the TIA. 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 Event of Default or impair any right consequent thereto.

Appears in 3 contracts

Samples: Indenture (Basic Energy Services Inc), Indenture (Basic Energy Services Inc), Indenture (Basic Energy Services Inc)

Waiver of Past Defaults and Events of Default. Subject to Sections 2.09, 6.02, 6.07 and 8.02 hereof8.02, the Holders of a majority in principal amount of the Notes then outstanding have the right to waive past Defaults or Events of Default under this Indenture except EXCEPT a default Default in the payment of the principal of, or interest or premium, if any, on any Note as specified in clauses (a) and (b) of Section 6.01 or in respect of a covenant or a provision which cannot be modified or amended without the consent of all Holders as provided for in Section 8.02. The Company Issuers shall deliver to the Trustee an Officers' Certificate stating that the requisite percentage of Holders have consented to such waiver and attaching copies of such consents. In case of any such waiver, the CompanyIssuers, the Trustee and the Holders shall be restored to their former positions and rights hereunder and under the Notes, respectively. This paragraph of this Section 6.04 shall be in lieu of Section 316(a)(1)(B) of the TIA and such Section 316(a)(1)(B) of the TIA is hereby expressly excluded from this Indenture and the Notes, as permitted by the TIA. 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 Event of Default or impair any right consequent thereto.

Appears in 2 contracts

Samples: Indenture (Norcross Capital Corp), Indenture (NSP Holdings Capital Corp.)

Waiver of Past Defaults and Events of Default. Subject to Sections 2.09, 6.02, 6.07 and 8.02 hereof8.02, the Holders holders of a majority in principal amount of the Notes then outstanding have the right to waive past Defaults or Events of any existing Default under this Indenture or the Notes except a default Default in the payment of the principal of, or interest or premium, if any, on any Note as specified in clauses (a) and (b) of Section 6.01 or in respect of a covenant or a provision which cannot be modified or amended without the consent of all Holders as provided for in Section 8.02. The Company shall deliver to the Trustee an Officers' Certificate stating that the requisite percentage of Holders have consented to such waiver and attaching copies of such consents. In case of any such waiver, the Company, the Trustee and the Holders shall be restored to their former positions and rights hereunder and under the Notes, respectively. This paragraph of this Section 6.04 shall be in lieu of Section 316(a)(1)(B) of the TIA and such Section 316(a)(1)(B) of the TIA is hereby expressly excluded from this Indenture and the Notes, as permitted by the TIA. 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 Event of Default or impair any right consequent thereto.

Appears in 2 contracts

Samples: Indenture (Affinity Group Inc), Indenture (Affinity Group Holding, Inc.)

Waiver of Past Defaults and Events of Default. Subject to Sections 2.09, 6.02, 6.07 and 8.02 hereof, the Holders of a majority in aggregate principal amount of the Notes then outstanding have the right to waive past Defaults or Events of Default under this Indenture except a default Default or Event of Default in the payment of the principal of, or interest or premiumLiquidated Damages, if any, on any Note as specified in clauses (a) and (b) of Section 6.01 or in respect of a covenant or a provision which cannot be modified or amended without the consent of all Holders as provided for in Section 8.02. The Company Issuer shall deliver to the Trustee an Officers’ Certificate stating that the requisite percentage of Holders have consented to such waiver and attaching copies of such consentswaiver. In case of any such waiver, the CompanyIssuer, the Trustee and the Holders shall be restored to their former positions and rights hereunder and under the Notes, respectively. This paragraph of this Section 6.04 shall be in lieu of Section 316(a)(1)(B) of the TIA and such Section 316(a)(1)(B) of the TIA is hereby expressly excluded from this Indenture and the Notes, as permitted by the TIA. 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 Event of Default or impair any right consequent thereto.

Appears in 2 contracts

Samples: Indenture (Basic Energy Services Inc), Indenture (Hercules Offshore, Inc.)

Waiver of Past Defaults and Events of Default. Subject to Sections 2.09, 6.02, 6.07 and 8.02 hereof, the Holders of a majority in principal amount of the Notes then outstanding have the right to waive past Defaults or Events of Default under this Indenture except a default Default in the payment of the principal of, or interest or premium, if any, on any Note as specified in clauses (a) and (b) of Section 6.01 or in respect of a covenant or a provision which cannot be modified or amended without the consent of all Holders as provided for in Section 8.02. The Company Case New Holland shall deliver to the Trustee an Officers’ Certificate stating that the requisite percentage of Holders have consented to such waiver and attaching copies of such consents. In case of any such waiver, the CompanyCase New Holland, the Trustee and the Holders shall be restored to their former positions and rights hereunder and under the Notes, respectively. This paragraph of this Section 6.04 shall be in lieu of Section 316(a)(1)(B) of the TIA and such Section 316(a)(1)(B) of the TIA is hereby expressly excluded from this Indenture and the Notes, as permitted by the TIA. 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 Event of Default or impair any right consequent thereto.

Appears in 2 contracts

Samples: Indenture (CNH Global N V), Indenture (CNH Global N V)

Waiver of Past Defaults and Events of Default. Subject to Sections 2.09, 6.02, 6.07 and 8.02 hereof, the Holders of a majority in aggregate principal amount of the Notes then outstanding have the right to waive past Defaults or Events of Default under this Indenture except a default Default or Event of Default in the payment of the principal of, or interest or premiumAdditional Interest, if any, on any Note as specified in clauses (a) and (b) of Section 6.01 or in respect of a covenant or a provision which cannot be modified or amended without the consent of all Holders as provided for in Section 8.02. The Company Issuers shall deliver to the Trustee an Officers’ Certificate stating that the requisite percentage of Holders have consented to such waiver and attaching copies of such consents. In case of any such waiver, the CompanyIssuers, the Trustee and the Holders shall be restored to their former positions and rights hereunder and under the Notes, respectively. This paragraph of this Section 6.04 shall be in lieu of Section 316(a)(1)(B) of the TIA and such Section 316(a)(1)(B) of the TIA is hereby expressly excluded from this Indenture and the Notes, as permitted by the TIA. 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 Event of Default or impair any right consequent thereto.

Appears in 1 contract

Samples: Indenture (Stonemor Partners Lp)

Waiver of Past Defaults and Events of Default. Subject to Sections 2.09, 6.02, 6.07 2.10 and 8.02 6.02 hereof, the Holders of a majority in principal amount of the Notes then outstanding have the right to waive past Defaults or Events of Default under this Indenture except a default Default in the payment of the principal of, or interest or premium, if any, on any Note as specified in clauses (a) and (b) of Section 6.01 or in respect of a covenant or a provision which cannot be modified or amended without the consent of all Holders as provided for in Section 8.02. The Company shall deliver to the Trustee an Officers’ Officer’s Certificate stating that the requisite percentage of Holders have consented to such waiver and attaching copies of such consents. In case of any such waiver, the Company, the Trustee and the Holders shall be restored to their former positions and rights hereunder and under the Notes, respectively. This paragraph of this Section 6.04 6.03 shall be in lieu of Section § 316(a)(1)(B) of the TIA and such Section § 316(a)(1)(B) of the TIA is hereby expressly excluded from this Indenture and the Notes, as permitted by the TIA. 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 Event of Default or impair any right consequent thereto.

Appears in 1 contract

Samples: Indenture (Constellation Brands, Inc.)

Waiver of Past Defaults and Events of Default. Subject to Sections 2.09, 6.02, 6.07 and 8.02 hereofNotwithstanding Section 316(a)(1)(B) of the TIA, the Holders of a majority in principal amount of the outstanding Notes then outstanding have the right to may waive any past Defaults or Events under the Indenture except: (a) a default relating to the non-payment of Default under principal of interest (including Additional Interest, if any); (b) a failure to convert any Notes as provided in this Indenture except Supplemental Indenture; (c) a default arising from the Company’s failure to redeem on the Redemption Date any Notes that are the subject of a Notice of Redemption; (d) a default arising from the Company’s failure to repurchase any Notes when required pursuant to the terms of this Supplemental Indenture; or (e) a default in the payment of the principal of, or interest or premium, if any, on any Note as specified in clauses (a) and (b) of Section 6.01 or in respect of a any covenant or a provision which that cannot be modified or amended without the consent of all Holders each Holder affected, as provided for in Section 8.02. The Company shall deliver to the Trustee an Officers’ Certificate stating that the requisite percentage of Holders have consented to such waiver and attaching copies of such consents. In case of any such waiver, the Company, the Trustee and the Holders shall be restored to their former positions and rights hereunder and under the Notes, respectively. This paragraph of this Section 6.04 shall be in lieu of Section 316(a)(1)(B10.02(b) of the TIA and such Section 316(a)(1)(B) of the TIA is hereby expressly excluded from this Indenture and the Notes, as permitted by the TIAhereof. 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 the Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Appears in 1 contract

Samples: Supplemental Indenture (M I Homes Inc)

Waiver of Past Defaults and Events of Default. Subject to Sections 2.09, 6.02, 6.07 and 8.02 hereof, the Holders holders of a majority in principal amount of the Notes then outstanding have the right to waive past Defaults or Events of Default under this Indenture except EXCEPT a default Default in the payment of the principal of, or interest or premium, if any, on any Note as specified in clauses (a) and (b) of Section 6.01 6.10 or in respect of a covenant or a provision which cannot be modified or amended without the consent of all Holders as provided for in Section 8.02. The Company shall deliver to the Trustee an Officers' Certificate stating that the requisite percentage of Holders have consented to such waiver and attaching copies of such consents. In case of any such waiver, the Company, the Trustee and the Holders shall be restored to their former positions and rights hereunder and under the Notes, respectively. This paragraph of this Section 6.04 shall be in lieu of Section 316(a)(1)(B) of the TIA and such Section 316(a)(1)(B) of the TIA is hereby expressly excluded from this Indenture and the Notes, as permitted by the TIA. 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 Event of Default or impair any right consequent thereto.

Appears in 1 contract

Samples: Indenture (Buslease Inc /New/)

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Waiver of Past Defaults and Events of Default. Subject to Sections 2.09, 6.02, 6.07 and 8.02 hereof8.02, the Holders of a majority in principal amount of the Notes then outstanding have the right to waive past Defaults any existing Default or Events Event of Default under this Indenture Indenture, and its consequences, except a default in the payment of the principal of, or interest of or premium, if any, or interest (including Additional Interest) on any Note as specified in clauses (a) and (b) other than nonpayment of Section 6.01 principal or in respect interest that has become due solely because of a covenant or a provision declaration of acceleration which cannot be modified or amended without the consent of all Holders as provided for in Section 8.02has been rescinded). The Company shall deliver to the Trustee an Officers' Certificate stating that the requisite percentage of Holders have consented to such waiver and attaching copies of such consents. In case of any such waiver, the Company, the Trustee and the Holders shall be restored to their former positions and rights hereunder and under the Notes, respectively. This paragraph of this Section 6.04 shall be in lieu of Section 316(a)(1)(B) of the TIA and such Section 316(a)(1)(B) of the TIA is hereby expressly excluded from this Indenture and the Notes, as permitted by the TIA. 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 Event of Default or impair any right consequent thereto.

Appears in 1 contract

Samples: Indenture (Panamsat Corp /New/)

Waiver of Past Defaults and Events of Default. Subject to Sections 2.09, 6.02, 6.07 and 8.02 hereofSection 6.7, the Holders of a majority in aggregate principal amount of the Notes then outstanding have the right to waive past Defaults any existing Default or Events Event of Default under or compliance with any provision of this Indenture and its consequences hereunder, except a default (i) an existing Default or Event of Default in the payment of the principal of, or interest or premium, if any, on any Note as specified on, or interest on, the Notes (including in clauses connection with an offer to purchase) or (aii) and (b) an existing Default or Event of Section 6.01 or Default in respect of a covenant or a provision which that under Section 8.2 cannot be modified or amended without the consent of all Holders as provided each Holder affected thereby. 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 in Section 8.02every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereon. The Company shall deliver to the Trustee an Officers’ Officer's Certificate stating that the requisite percentage of Holders have consented to such waiver and attaching copies of such consents. In case of any such waiver, the Company, the Trustee and the Holders shall be restored to their former positions and rights hereunder and under the Notes, respectively. This paragraph of this Section 6.04 shall be in lieu of Section 316(a)(1)(B) of the TIA and such Section 316(a)(1)(B) of the TIA is hereby expressly excluded from this Indenture and the Notes, as permitted by the TIA. 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 Event of Default or impair any right consequent thereto.

Appears in 1 contract

Samples: Indenture (Morris Material Handling Inc)

Waiver of Past Defaults and Events of Default. Subject to Sections 2.09, 6.02, 6.07 and 8.02 hereof, the Holders of a majority in aggregate principal amount of the Notes then outstanding have the right to waive past Defaults or Events of Default under this Indenture except a default Default or Event of Default in the payment of the principal of, or interest or premiumLiquidated Damages, if any, on any Note as specified in clauses (a) and (b) of Section 6.01 or in respect of a covenant cove- nant or a provision which cannot be modified or amended without the consent of all Holders as provided for in Section 8.02. The Company Issuer shall deliver to the Trustee an Officers’ Certificate stating that the requisite percentage of Holders have consented to such waiver and attaching copies of such consents. In case of any such waiver, the CompanyIssuer, the Trustee and the Holders shall be restored to their former positions and rights hereunder and under the Notes, respectively. This paragraph of this Section 6.04 shall be in lieu of Section 316(a)(1)(B) of the TIA and such Section 316(a)(1)(B) of the TIA is hereby expressly excluded from this Indenture and the Notes, as permitted by the TIA. 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 Event of Default or impair any right consequent thereto.

Appears in 1 contract

Samples: Indenture (Basic Energy Services Inc)

Waiver of Past Defaults and Events of Default. Subject to Sections 2.09, 6.02, 6.07 and 8.02 hereof, the Holders of a majority in aggregate principal amount of the Notes then outstanding have the right to waive past Defaults or Events of Default under this Indenture except a default Default or Event of Default in the payment of the principal of, or interest or premiumAdditional Interest, if any, on any Note as specified in clauses (a) and (b) of Section 6.01 or in respect of a covenant or a provision which cannot be modified or amended without the consent of all Holders as provided for in Section 8.02. The Company Issuers shall deliver to the Trustee an Officers’ Certificate stating that the requisite percentage of Holders have consented to such waiver and attaching copies of such consentswaiver. In case of any such waiver, the CompanyIssuers, the Trustee and the Holders shall be restored to their former positions and rights hereunder and under the Notes, respectively. This paragraph of this Section 6.04 shall be in lieu of Section 316(a)(1)(B) of the TIA and such Section 316(a)(1)(B) of the TIA is hereby expressly excluded from this Indenture and the Notes, as permitted by the TIA. 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 Event of Default or impair any right consequent thereto.

Appears in 1 contract

Samples: Indenture (Stonemor Partners Lp)

Waiver of Past Defaults and Events of Default. Subject to Sections 2.09, 6.02, 6.07 and 8.02 hereof8.02, the Holders holders of a majority in principal amount of the Notes then outstanding have the right to waive past Defaults or Events of any existing Default under this Indenture or the Notes except a default Default in the payment of the principal of, or interest or premium, if any, on any Note as specified in clauses (a) and (b) of Section 6.01 or in respect of a covenant or a provision which cannot be modified or amended without the consent of all Holders as provided for in Section 8.02. The Company Issuers shall deliver to the Trustee an Officers’ Certificate stating that the requisite percentage of Holders have consented to such waiver and attaching copies of such consents. In case of any such waiver, the CompanyIssuers, the Trustee and the Holders shall be restored to their former positions and rights hereunder and under the Notes, respectively. This paragraph of this Section 6.04 shall be in lieu of Section 316(a)(1)(B) of the TIA and such Section 316(a)(1)(B) of the TIA is hereby expressly excluded from this Indenture and the Notes, as permitted by the TIA. 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 Event of Default or impair any right consequent thereto.

Appears in 1 contract

Samples: Indenture (3055854 Nova Scotia Co)

Waiver of Past Defaults and Events of Default. Subject to Sections 2.09, 6.02, 6.07 and 8.02 hereof8.02, the Holders of a majority in principal amount of the Notes then outstanding have the right to waive past Defaults or Events of Default under this Indenture except a default Default in the payment of the principal of, or interest or premium, if any, on any Note as specified in clauses (a) and (b) of Section 6.01 or in respect of a covenant or a provision which cannot be modified or amended without the consent of all Holders as provided for in Section 8.02. The Company shall deliver to the Trustee an Officers’ Certificate stating that the requisite percentage of Holders have consented to such waiver and attaching copies of such consents. In case of any such waiver, the Company, the Trustee and the Holders shall be restored to their former positions and rights hereunder and under the Notes, respectively. This paragraph of this Section 6.04 shall be in lieu of Section 316(a)(1)(B) of the TIA and such Section 316(a)(1)(B) of the TIA is hereby expressly excluded from this Indenture and the Notes, as permitted by the TIA. 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 Event of Default or impair any right consequent thereto.

Appears in 1 contract

Samples: Indenture (Transportation Technologies Industries Inc)

Waiver of Past Defaults and Events of Default. Subject to Sections 2.09, 6.02, 6.07 6.08 and 8.02 hereof8.02, the Holders of a majority in aggregate principal amount of the Notes then outstanding have the right to waive past Defaults any existing Default or Events compliance with any provision of this Indenture or the Notes, other than (a) a Default or Event of Default under this Indenture except a default in the payment of the principal of, or interest or premium, if any, on or interest or additional interest on, any Note Note, or in the payment of the Change of Control Purchase Price (or accrued and unpaid interest, if any, payable as specified in clauses (a) and herein provided, upon repurchase upon Change of Control), (b) a Default or Event of Default described in clause (7) or (8) of Section 6.01 6.01, or (c) any Default or Event of Default in respect of a covenant any provision of this Indenture or a provision which the Notes which, under Section 8.02, cannot be modified or amended without the consent of all Holders as provided for in Section 8.02. The Company shall deliver to the Trustee an Officers’ Certificate stating that the requisite percentage Holder of Holders have consented to such waiver and attaching copies of such consents. In case of any such waiver, the Company, the Trustee and the Holders shall be restored to their former positions and rights hereunder and under the Notes, respectively. This paragraph of this Section 6.04 shall be in lieu of Section 316(a)(1)(B) of the TIA and such Section 316(a)(1)(B) of the TIA is hereby expressly excluded from this Indenture and the Notes, as permitted by the TIAeach outstanding Notes 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 Event of Default or impair any right consequent thereto.

Appears in 1 contract

Samples: Indenture (Gsi Group Inc)

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