Common use of Waiver of Past Events Clause in Contracts

Waiver of Past Events. Subject to Section 12.2 hereof, the Noteholders of any Series owning an aggregate principal amount of Notes in excess of 66-2/3% of the aggregate principal amount of the Outstanding Notes of such Series, by notice to the Trustee, may waive any existing Potential Amortization Event or Amortization Event related to clauses (a), (b), (c), (e)(ii), (i) and (j) of Section 9.1 which relate to such Series and its consequences except a continuing Potential Amortization Event or Amortization Event in the payment of the principal of or interest on any Note. Upon any such waiver, such Potential Amortization Event shall cease to exist with respect to such Series, and any Amortization Event with respect to such Series 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 Potential Amortization Event or impair any right consequent thereon. A Potential Amortization Event or an Amortization Event related to clauses (d), (e)(i), (f), (g), or (h) of Section 9.1 shall not be subject to waiver.

Appears in 2 contracts

Samples: Republic Industries Inc, Republic Industries Inc

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Waiver of Past Events. Subject to Section 12.2 hereof12.2, the Noteholders of any Series owning an aggregate principal amount Principal Amount of Notes in excess of 66-66 2/3% of the aggregate principal amount Principal Amount of the Outstanding Notes of such Series, by notice to the Trustee, may waive any existing Potential Amortization Event or Amortization Event related to clauses described in clause (af), (bg), (c), (e)(iih), (i) and or (j) of Section 9.1 (with respect to clause (j), only to the extent subject to waiver as provided in the applicable Series Supplement) which relate to such Series and its consequences except a continuing Potential Amortization Event or Amortization Event in the payment of the principal of or interest on any Noteconsequences. Upon any such waiver, such Potential Amortization Event shall cease to exist with respect to such Series, and any Amortization Event with respect to such Series 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 Potential Amortization Event or impair any right consequent thereon. A Potential Amortization Event or an Amortization Event related to clauses described in clause (a), (b), (c), (d), (e)(i), (f), (g), e) or (hj) of Section 9.1 (with respect to clause (j), only to the extent not subject to waiver as set forth in the applicable Series Supplement) shall not be subject to waiver. The Trustee shall provide notice to each Rating Agency of any waiver by the Noteholders of any Series pursuant to Section 9.4.

Appears in 2 contracts

Samples: Credit Agreement (Hertz Corp), Hertz Global Holdings Inc

Waiver of Past Events. Subject to Section 12.2 hereof, the Noteholders of any Series owning an aggregate principal amount of Notes in excess of 66-2/3% of the aggregate principal amount of the Outstanding Notes of such Series, by notice to the Trustee, may waive any existing Potential Amortization Event or Amortization Event related to clauses clause (a), (b), (c), (e)(ii), (i) and or (jn) of Section 9.1 (with respect to clause (n), only to the extent subject to waiver as provided in the applicable Supplement) which relate to such Series and its consequences except a continuing Potential Amortization Event or Amortization Event in the payment of the principal of or interest on any Note. Upon any such waiver, such Potential Amortization Event shall cease to exist with respect to such Series, and any Amortization Event with respect to such Series 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 Potential Amortization Event or impair any right consequent thereon. A Potential Amortization Event or an Amortization Event related to clauses clause (d), (e)(ie), (f), (g), (h), (j), (k), (l), (m) or (hn) of Section 9.1 (with respect to clause (n), only to the extent not subject to waiver as set forth in the applicable Supplement) shall not be subject to waiver.

Appears in 2 contracts

Samples: Base Indenture (Avis Rent a Car Inc), Base Indenture (Avis Rent a Car Inc)

Waiver of Past Events. Subject to Section 12.2 hereof12.2, the Noteholders of any Series owning an aggregate principal amount Invested Amount of Notes in excess of 66-66 2/3% of the aggregate principal amount Invested Amount of the Outstanding Notes of such Series, by notice to the Trustee, may waive any existing Potential Amortization Event or Amortization Event related to clauses (a), described in clause (b), ) or (c), (e)(ii), (i) and (jk) of Section 9.1 (with respect to clause (k), only to the extent subject to waiver as provided in the applicable Series Supplement) which relate to such Series and its consequences except a continuing Potential Amortization Event or Amortization Event in the payment of the principal of or interest on any Noteconsequences. Upon any such waiver, such Potential Amortization Event shall cease to exist with respect to such Series, and any Amortization Event with respect to such Series 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 Potential Amortization Event or impair any right consequent thereon. A Potential Amortization Event or an Amortization Event related to clauses described in clause (a), (c), (d), (e)(ie), (f), (g), (h), (i), (j) or (hk) of Section 9.1 (with respect to clause (k) only to the extent not subject to waiver as set forth in the applicable Series Supplement) shall not be subject to waiver.

Appears in 1 contract

Samples: Cendant Corp

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Waiver of Past Events. Subject to Section 12.2 hereof, the Noteholders of any Series owning an aggregate principal amount of Notes in excess of 66-2/3% of the aggregate principal amount of the Outstanding Notes of such Series, by notice to the Trustee, may waive any existing Potential Amortization Event or Amortization Event related to clauses (a), (b), (c), (e)(ii), (i) and (j) of Section 9.1 which relate to such Series and its consequences except a continuing Potential Amortization Event or Amortization Event in the payment of the principal of or interest on any Note. Upon any such waiver, such Potential Amortization Event shall cease to exist with respect to such Series, and any Amortization Event with respect to such Series 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 Potential Amortization Event or impair any right consequent thereon. A Potential Amortization Event or an Amortization Event related to clauses (d), (e)(i), (f), (g), or ) through (h) of Section 9.1 shall not be subject to waiver.

Appears in 1 contract

Samples: Base Indenture (Team Rental Group Inc)

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