Common use of When Treasury Senior Notes Disregarded Clause in Contracts

When Treasury Senior Notes Disregarded. In determining whether the Holders of the required aggregate principal amount of Senior Notes have concurred in any direction, waiver or consent, (i) Senior Notes owned by the Issuers, any Guarantor or any other obligor on the Senior Notes shall be disregarded as though they were not outstanding and (ii) solely to the extent required by TIA Section 316(a) and TIA Section 315(d), Senior Notes owned by Affiliates shall be disregarded as though they were not outstanding, except that for the purposes of determining whether the Trustee shall be protected in relying on any such direction, waiver or consent, only Senior Notes which the Trustee actually knows are so owned shall be so disregarded. Senior Notes so owned which have been pledged in good faith shall not be disregarded if the pledgee establishes to the satisfaction of the Trustee the pledgee's right so to act with respect to the Senior Notes and that the pledgee is not the Issuers, a Guarantor or any other obligor upon the Senior Notes or any Affiliate of any of them.

When Treasury Senior Notes Disregarded. In determining whether the Holders of the required aggregate principal amount of Senior Notes have concurred in any direction, waiver or consent, (i) Senior Notes owned by the Issuers, any Guarantor or any other obligor on the Senior Notes shall be disregarded as though they were not outstanding and (ii) solely to the extent required by TIA Section 316(a) and TIA Section 315(d), Senior Notes owned by Affiliates shall be disregarded as though they were not outstanding, except that for the purposes of determining whether the Trustee shall be protected in relying on any such direction, waiver or consent, only Senior Notes which the Trustee actually knows are so owned shall be so disregarded. Senior Notes so owned which have been pledged in good faith shall not be disregarded if the pledgee establishes to the satisfaction of the Trustee the pledgee's ’s right so to act with respect to the Senior Notes and that the pledgee is not the Issuers, a Guarantor or any other obligor upon the Senior Notes or any Affiliate of any of them.

When Treasury Senior Notes Disregarded. In determining whether the Holders of the required aggregate principal amount of Senior Notes have concurred in any direction, waiver or consent, (i) Senior Notes owned by the IssuersCompany, any Guarantor or any other obligor on the Senior Notes shall be disregarded as though they were not outstanding and (ii) solely to the extent required by TIA Section 316(a) and TIA Section 315(d), Senior Notes owned by Affiliates shall be disregarded as though they were not outstanding, except that for the purposes of determining whether the Trustee shall be protected in relying on any such direction, waiver or consent, only Senior Notes which the Trustee actually knows are so owned shall be so disregarded. Senior Notes so owned which have been pledged in good faith shall not be disregarded if the pledgee establishes to the satisfaction of the Trustee the pledgee's right so to act with respect to the Senior Notes and that the pledgee is not the IssuersCompany, a Guarantor or any other obligor upon the Senior Notes or any Affiliate of any of them.