Examples of Indenture Default in a sentence
Any such action shall be without prejudice to any right to claim an Indenture Default under this Indenture and any right to proceed thereafter as provided in Article Five.
Prior to the acceleration of the maturity of the Notes as provided in Section 5.02, Noteholders holding not less than a majority of the Outstanding Amount, by written notice to the Issuer and the Indenture Trustee, may waive any such Indenture Default and its consequences except an Indenture Default (i) in payment of principal of or interest on the Notes or (ii) in respect of a covenant or provision hereof that cannot be modified or amended without the consent of each Noteholder.
Notwithstanding the foregoing, a delay in or failure of performance referred to under clause (a) for a period of 45 days, under clause (b) for a period of 60 days or under clause (c) for a period of 120 days, will not constitute an Indenture Default if that failure or delay was caused by a Force Majeure.
If an Indenture Default occurs and is continuing, and a Responsible Officer of the Indenture Trustee has actual knowledge thereof, the Indenture Trustee shall mail to each Noteholder [, each Swap Counterparty] and the Administrator notice of such Indenture Default within 90 days after it occurs.
The Issuer shall promptly deliver to the Indenture Trustee, the Owner Trustee, the Vehicle Trustee, each Noteholder, and with respect to each Rating Agency shall make available, written notice in the form of an Officer’s Certificate of any Indenture Default, its status and what action the Issuer is taking or proposes to take with respect thereto.