Default on Designated Senior Indebtedness. The Company may not pay the principal of, premium (if any) or interest on the Securities or make any deposit pursuant to Section 8.01 and may not otherwise repurchase, redeem or otherwise retire any Securities (except that Holders may receive and retain Permitted Junior Securities) (collectively, "pay the Securities") if (a) a default in the payment of the principal of, premium, if any, or interest on any Designated Senior Indebtedness of the Company occurs and is continuing or any other amount owing in respect of any such Designated Senior Indebtedness is not paid when due, or (b) any other default on such Designated Senior Indebtedness occurs and the maturity of such Designated Senior Indebtedness is accelerated in accordance with its terms unless, in either case, (i) the default has been cured or waived and any such acceleration has been rescinded or (ii) such Designated Senior Indebtedness has been paid in full in cash or Cash Equivalents; provided, however, that the Company may pay the Securities without regard to the foregoing if the Company and the Trustee receive written notice approving such payment from the Representative of the holders of such Designated Senior Indebtedness with respect to which either of the events set forth in clause (a) or (b) of this sentence has occurred and is continuing. During the continuance of any default (other than a default described in clause (a) or (b) of the preceding sentence) with respect to any Designated Senior Indebtedness of the Company pursuant to which the maturity thereof may be accelerated immediately without further notice (except such notice as may be required to effect such acceleration) or the expiration of any applicable grace periods, the Company may not pay the Securities for a period (a "Payment Blockage Period") commencing upon the receipt by the Trustee (with a copy to the Company) of written notice (a "Blockage Notice") of such default from the Representative of the holders of such Designated Senior Indebtedness specifying an election to effect a Payment Blockage Period and ending 179 days thereafter (or earlier if such Payment Blockage Period is terminated (i) by written notice to the Trustee and the Company from the Person or Persons who gave such Blockage Notice, (ii) because such Designated Senior Indebtedness has been repaid in full in cash or Cash Equivalents or (iii) because the default giving rise to such Blockage Notice is no longer continuing). Notwithstanding the provisions describ...
Default on Designated Senior Indebtedness. (a) The Company may not make any payment or distribution to the Trustee or any Holder in respect of Obligations with respect to the Notes and may not acquire from the Trustee or any Holder any Notes for cash or property (other than Permitted Junior Securities) until all principal and other Obligations with respect to the Senior Indebtedness have been paid in full if:
Default on Designated Senior Indebtedness. The Company may not pay principal of, premium (if any) or interest on, the Securities or make any deposit pursuant to the provisions described under Section 8.01 and may not otherwise purchase, redeem or otherwise retire any Securities (except that the Holders may receive and retain (a) Permitted Junior Securities and (b) payments made from the trust described under Article 8) (collectively, “pay the Securities”) if:
Default on Designated Senior Indebtedness. The Company may not make any payment of any kind or character upon or in respect of the Notes (other than in (i) securities that are subordinated to the same extent as the Notes to Senior Indebtedness and any securities issued in exchange for Senior Indebtedness and (ii) payments made from the trusts described in Sections 8.4 and 8.5 hereof) if:
Default on Designated Senior Indebtedness. (a) The Company may not make any payment in respect of the Notes (except in Permitted Junior Securities or from the trust pursuant to Article Eight hereof):
Default on Designated Senior Indebtedness. (a) The Company and the Subsidiary Guarantors may not make any payment in respect of any Senior Subordinated Obligations (except in (A) Permitted Junior Securities or (B) from the trust described in Article 8 hereof) nor may any amounts be set aside or deposited pursuant to Article 8 if:
Default on Designated Senior Indebtedness. 86 Section 12.04. Acceleration of Notes.........................................87 Section 12.05. Notice by Company or Guarantors...............................87 Section 12.06. Subrogation...................................................88 Section 12.07. Relative Rights...............................................88 Section 12.08. Subordination May Not Be Impaired by any Guarantor............89 Section 12.09. Distribution or Notice to Representative......................89 Section 12.10. Rights of Trustee and Paying Agent............................89 Section 12.11. Authorization to Effect Subordination.........................90 Section 12.12. Amendments....................................................90
Default on Designated Senior Indebtedness. Holdings shall not make any payment or distribution to the Trustee or any Holder of Exchange Debentures upon or in respect of Obligations with respect to the Exchange Debentures and may not acquire from the Trustee or any Holder of Exchange Debentures any Exchange Debentures for cash or property (other than securities that are subordinated, at least to the same extent as the Exchange Debentures, to (A) Senior Indebtedness and (B) any securities issued in exchange for Senior Indebtedness) until all principal and other Obligations with respect to the Senior Indebtedness have been paid in full if:
Default on Designated Senior Indebtedness. (a) The Company shall not make any payment or distribution to the Trustee or any Holder in respect of any Obligations with respect to the Notes, including any amount payable upon acceleration of the Notes, if:
Default on Designated Senior Indebtedness. (a) No payment or distribution of any assets of the Company of any kind or character, whether in cash, property or securities (other than Permitted Junior Securities), may be made by or on behalf of the Company on account of principal of or premium, if any, or interest on the Notes or on account of the purchase, redemption or other acquisition of Notes upon the occurrence of any default in payment (whether at stated maturity, upon scheduled installment, by acceleration or otherwise) of any principal of or premium, if any, or interest on any Designated Senior Indebtedness beyond any applicable grace period (a "Payment Default") until such Payment Default shall have been cured or waived or shall have ceased to exist or such Designated Senior Indebtedness shall have been discharged or paid in full in cash or cash equivalents.
