Guarantor Payment Default definition
Examples of Guarantor Payment Default in a sentence
A Subsidiary Guarantor may pay its Subsidiary Guarantee, after such Guarantor Payment Blockage Period ends, unless the holders of such Designated Senior Indebtedness have or the Representative of such holders has accelerated the maturity of such Designated Senior Indebtedness, or any Guarantor Payment Default otherwise exists.
Notwithstanding the foregoing, the Designated Guarantors are permitted to pay on the Guarantees of the Notes if the Designated Guarantors and the Trustee receive written notice approving such payment from the Representative of such Designated Senior Indebtedness with respect to which the Designated Guarantor Payment Default has occurred and is continuing.
A Note Guarantor may pay its Note Guarantee, after such Guarantor Payment Blockage Period ends, unless the holders of such Designated Senior Indebtedness or the Representative of such holders have accelerated the maturity of such Designated Senior Indebtedness, or any Guarantor Payment Default otherwise exists.
A Subsidiary Guarantor shall promptly pay its Subsidiary Guarantee, after such Subsidiary Guarantor Payment Blockage Period ends, unless the holders of such Designated Guarantor Senior Indebtedness or the Representative of such holders have accelerated the maturity of such Designated Guarantor Senior Indebtedness, or any Subsidiary Guarantor Payment Default otherwise exists.
Regardless of the foregoing, such Guarantor is permitted to pay its Guarantee if such Guarantor and the Trustee receive written notice approving such payment from the Representatives of all Designated Senior Indebtedness with respect to which the Guarantor Payment Default has occurred and is continuing.
The Issuer or such Guarantor will promptly give notice to the Trustee of any occurrence of a Guarantor Payment Default.
The Parent Guarantor may pay the Parent Senior Subordinated Guarantee, after such Parent Guarantor Payment Blockage Period ends, unless the holders of such Parent Guarantor Designated Senior Indebtedness have or the Parent Guarantor Representative of such holders has accelerated the maturity of such Parent Guarantor Designated Senior Indebtedness, or any Parent Guarantor Payment Default otherwise exists.
A Subsidiary Guarantor shall promptly resume payment under its Subsidiary Guarantee, after such Guarantor Payment Blockage Period ends, unless the holders of such Designated Senior Indebtedness have or the Representative of such holders has accelerated the maturity of such Designated Senior Indebtedness, or any Guarantor Payment Default otherwise exists.
Regardless of the foregoing, such Guarantor is permitted to make payments on its Guaranty if such Guarantor and the Trustee receive written notice approving such payment from the Representatives of all Designated Senior Indebtedness with respect to which the Guarantor Payment Default has occurred and is continuing.
A Guarantor may pay its Parent Guarantee or Note Guarantee, after such Guarantor Payment Blockage Period ends, unless the holders of such Guarantor Designated Senior Indebtedness or the Representative of such holders have accelerated the maturity of such Guarantor Designated Senior Indebtedness, or any Guarantor Payment Default otherwise exists.