Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if (1) the Company has paid or deposited with the Trustee a sum sufficient to pay (A) all overdue interest on all Securities of that series, (B) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities, (C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and (D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and (2) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 24 contracts
Sources: Indenture (Progress Software Corp /Ma), Indenture (BrightSpring Health Services, Inc.), Indenture (BrightSpring Health Services, Inc.)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereofof that series) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if
(1a) the Company has paid or deposited with the Trustee a sum sufficient to pay
(Ai) all overdue interest on all Securities of that series,
(Bii) the principal of (and premium, if any, on) and any sinking fund payments with respect to any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(Ciii) to the extent that payment of such interest is lawfulenforceable under applicable law, interest upon overdue interest to the date of such payment or deposit at the rate or rates prescribed therefor in such SecuritiesSecurities or, if no such rate or rates are so prescribed, at the rate borne by the Securities during the period of such default, and
(Div) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2b) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such waiver or rescission and annulment shall affect any subsequent default or impair any right consequent thereon.
Appears in 14 contracts
Sources: Indenture (Carnival PLC), Indenture (Carnival PLC), Indenture (Carnival PLC)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then and in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may (and the Trustee shall at the request of such Holders) declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities or Indexed Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by the Holders), and upon any such declaration such principal amount (or specified amount) portion thereof shall become immediately due and payable. Any application by the Trustee for written instructions from the requisite amount of Holders (as determined pursuant to this Indenture) may, at the option of the Trustee, set forth in writing any action proposed to be taken or omitted by the Trustee under this Indenture and the date on and/or after which such action shall be taken or such omission shall be effective. The Trustee shall not be liable for any action taken by, or omission of, the Trustee in accordance with a proposal included in such application on or after the date specified in such application unless prior to taking any such action (or the effective date in the case of an omission), the Trustee shall have received written instructions from the requisite amount of Holders (as determined pursuant to this Indenture) in response to such application specifying the action to be taken or omitted. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter provided in this Article providedV, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if:
(1) the Company has paid or deposited with the Trustee a sum sufficient to paypay in the Currency in which the Securities of such series are payable (except as otherwise specified pursuant to Section 3.01 for the Securities of such series and except, if applicable, as provided in Sections 3.12(b), 3.12(d) and 3.12(e)):
(A) all overdue interest installments of interest, if any, on all Outstanding Securities of that series,;
(B) the principal of (and premium, if any, on) any all Outstanding Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor borne by or provided for in such Securities,;
(C) to the extent that payment of such interest is lawful, interest upon overdue installments of interest at the rate or rates prescribed therefor borne by or provided for in such Securities, ; and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2) all Events of Default with respect to Securities of that series, other than the non-payment nonpayment of the principal of (or premium, if any) or interest on Securities of that series which that have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 10 contracts
Sources: Indenture (North Haven Private Income Fund LLC), Indenture (Apollo Debt Solutions BDC), Indenture (HPS Corporate Lending Fund)
Acceleration of Maturity; Rescission and Annulment. If Unless the Board Resolution, supplemental indenture or Officers’ Certificate establishing such series provides otherwise, if an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount of all the Securities of that series (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in by the terms thereof) of all of the Securities of that series and premium, if any, together with accrued and unpaid interest, if any, thereon, and Additional Amounts, if any, with respect thereto, to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by the Holders), and upon any such declaration such principal amount (or specified amount) and premium, if any, together with accrued and unpaid interest, if any, thereon, and Additional Amounts, if any, with respect thereto, shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article 5 provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if
(1) the Company has paid or deposited with the Trustee a sum sufficient to pay
(A) all overdue interest on on, and any Additional Amounts with respect to, all Securities of that series (or of all series, as the case may be),
(B) the principal of or premium (and premium, if any, on) on any Securities of that series (or of all series, as the case may be) which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities (in the case of Original Issue Discount Securities, the Securities’ Yield to Maturity),
(C) to the extent that payment of such interest is lawful, interest upon overdue interest and any Additional Amounts at the rate or rates prescribed therefor in such Securities (in the case of Original Issue Discount Securities, the Securities’ Yield to Maturity), and
(D) all sums paid or advanced by the Trustee hereunder and hereunder, the reasonable compensation, expenses, disbursements and advances of the Trusteedue to Trustee under Section 6.7, its agents and counsel; andall other amounts due under Section 6.7;
(2) all Events of Default with respect to Securities of that series (or of all series, as the case may be), other than the non-payment nonpayment of the principal of Securities of that series (or of all series, as the case may be) which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13; and
(3) the rescission would not conflict with any final judgment or decree of a court of competent jurisdiction. No such rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 10 contracts
Sources: Indenture (LTC Properties Inc), Indenture (LTC Properties Inc), Indenture (LTC Properties Inc)
Acceleration of Maturity; Rescission and Annulment. If Unless the Board Resolution, supplemental indenture or Officers’ Certificate establishing such series provides otherwise, if an Event of Default (other than an Event of Default specified in Section 5.1(5) or 5.1(6)) with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount of all the Securities of that series (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in by the terms thereof) of all of the Securities of that series and premium, if any, together with accrued and unpaid interest, if any, thereon, and Additional Amounts, if any, with respect thereto, to be due and payable immediately, by a notice in writing to the Company Corporation (and to the Trustee if given by the Holders), and upon any such declaration such principal amount (or specified amount) and premium, if any, together with accrued and unpaid interest, if any, thereon, and Additional Amounts, if any, with respect thereto, shall become immediately due and payable. Unless the Board Resolution, supplemental indenture or Officers’ Certificate establishing such series provides otherwise, if an Event of Default specified in Section 5.1(5) or 5.1(6) with respect to Securities of any series at the time Outstanding occurs, the principal amount of all the Securities of that series (or, if any Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified by the terms thereof) and premium, if any, together with accrued and unpaid interest, if any, thereon, and Additional Amounts, if any, with respect thereto, shall automatically, and without any declaration or other action on the part of the Trustee or any Holder, become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article 5 provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company Corporation and the Trustee, may rescind and annul such declaration and its consequences if:
(1) the Company The Corporation has paid or deposited with the Trustee a sum sufficient to pay:
(A) all All overdue interest on on, and any Additional Amounts with respect to, all Securities of that series (or of all series, as the case may be),
(B) the The principal of or premium (and premium, if any, on) on any Securities of that series (or of all series, as the case may be) which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities (in the case of Original Issue Discount Securities, the Securities’ Yield to Maturity),
(C) to To the extent that payment of such interest is lawful, interest upon overdue interest and any Additional Amounts at the rate or rates prescribed therefor in such Securities (in the case of Original Issue Discount Securities, the Securities’ Yield to Maturity), and
(D) all All sums paid or advanced by the Trustee hereunder and hereunder, the reasonable compensation, expenses, disbursements and advances of the Trusteedue to Trustee under Section 6.7, its agents and counsel; andall other amounts due under Section 6.7;
(2) all All Events of Default with respect to Securities of that series (or of all series, as the case may be), other than the non-payment nonpayment of the principal of Securities of that series (or of all series, as the case may be) which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13; and
(3) The rescission would not conflict with any final judgment or decree of a court of competent jurisdiction. No such rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 9 contracts
Sources: Indenture (FNB Corp/Pa/), Indenture (FNB Corp/Fl/), Indenture (FNB Corp/Fl/)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default Default, other than a Bankruptcy Default, with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if
(1) the Company has paid or deposited with the Trustee a sum sufficient to pay
(A) all overdue interest on all Securities of that series,
(B) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon. If a Bankruptcy Default occurs, the principal of and accrued but unpaid interest on all Securities then outstanding will become immediately due and payable without any declaration or other act on the part of the Trustee or any Holder.
Appears in 9 contracts
Sources: Indenture (Southside Bancshares Inc), Indenture (Wesbanco Inc), Indenture (Wesbanco Inc)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if
(1) the Company has paid or deposited with the Trustee a sum sufficient to pay
(A) all overdue interest on all Securities of that series,
(B) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and;
(2) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 7 contracts
Sources: Indenture (Jefferies Group Inc /De/), Indenture (Philadelphia Suburban Corp), Indenture (Jefferies Group Inc /De/)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Debt Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders holders of not less than 25% in principal amount of the Outstanding Debt Securities of that such series may declare the principal amount (or, if any of the Debt Securities of that such series are Original Issue Discount Securities, such portion of the principal amount of such Discount Securities as may be specified in the terms thereofof such Discount Securities) of all of the Debt Securities of that such series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holdersholders), and upon any such declaration such principal amount (or specified amount) plus accrued and unpaid interest (and premium, if payable) shall become immediately due and payable. Upon payment of such amount all obligations of the Company in respect of the payment of principal of the Debt Securities of such series shall terminate. At any time after such a declaration of acceleration with respect to Debt Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders holders of at least a majority in principal amount of the Outstanding Debt Securities of that such series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if:
(1a) the Company has paid or deposited with the Trustee a sum sufficient to pay
(A1) all overdue installments of interest on all Debt Securities of that such series,
(B2) the principal of (and premium, if any, on) any Debt Securities of that such series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Debt Securities,
(C3) to the extent that payment of such interest is lawful, interest upon overdue installments of interest on each Debt Security of such series at the rate or rates prescribed therefor in such SecuritiesOverdue Rate, and
(D4) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and;
(2b) all All Events of Default with respect to Debt Securities of that such series, other than the non-payment nonpayment of the principal of Debt Securities of that such series which have has become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission and waiver shall affect any subsequent default or impair any right consequent thereon.
Appears in 6 contracts
Sources: Indenture (Pinnacle Entertainment Inc), Indenture (Pinnacle Entertainment Inc), Indenture (Metro-Goldwyn-Mayer Inc)
Acceleration of Maturity; Rescission and Annulment. (a) If an Event of Default with respect to Securities of any series at the time Outstanding (other than an Event of Default specified in clause (5) or (6) of Section 7.1) occurs and is continuing, then and in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may may, and, subject to Section 8.3(e) of this Indenture, the Trustee at the request of such Holders shall, declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) of of, and accrued and unpaid interest on, all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. If an Event of Default specified in clause (5) or (6) of Section 7.1 occurs, the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) of, and accrued and unpaid interest on, all of the Outstanding Securities of that series shall be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder of any Security of that series.
(b) At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if:
(1) the Company has paid or deposited with the Trustee a sum sufficient to pay:
(A) all overdue interest on all Securities of that series,
(B) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(C) to the extent that payment of such interest is lawful, interest upon overdue principal (and premium, if any) and overdue interest at the rate or rates prescribed therefor in such Securities, and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. 7.13.
(c) No such rescission shall affect any subsequent default or impair any right consequent thereon.
(d) Upon receipt by the Trustee of any declaration of acceleration, or rescission and annulment thereof, with respect to Securities of a series all or part of which is represented by a Global Security, the record date for determining Holders of Outstanding Securities of such series entitled to join in such declaration of acceleration, or rescission and annulment, as the case may be, shall be the day the Trustee receives such declaration of acceleration, or rescission and annulment, as the case may be, or, if such receipt occurs after the close of business or on a day that is not a Business Day, the next succeeding Business Day. The Holders on such record date, or their duly designated proxies, and only such Persons, shall be entitled to join in such declaration of acceleration, or rescission and annulment, as the case may be, whether or not such Holders remain Holders after such record date; provided that unless such declaration of acceleration, or rescission and annulment, as the case may be, shall have become effective by virtue of the requisite percentage having been obtained prior to the day which is 90 days after such record date, such declaration of acceleration, or rescission and annulment, as the case may be, shall automatically and without further action by any Holder be canceled and of no further effect. The Trustee may conclusively rely on any representation by the Holders delivering such declaration of acceleration, or rescission and annulment, as the case may be, that such Holders constitute the requisite percentage to deliver such declaration. Nothing in this paragraph shall prevent a Holder, or a proxy of a Holder, from giving, after expiration of such 90-day period, a new declaration of acceleration, or rescission or annulment thereof, as the case may be, that is identical to a declaration of acceleration, or rescission or annulment thereof, which has been canceled pursuant to the provision to the preceding sentence, in which event a new record date shall be established pursuant to the provision of this Section 7.2.
Appears in 6 contracts
Sources: Indenture (Tiptree Inc.), Indenture (Tiptree Inc.), Senior Indenture (Affiliated Managers Group, Inc.)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series or Tranche of Senior Securities at the time Outstanding occurs and is continuing, then in every then, unless the principal of and interest on such case series or Tranche of Senior Securities has already become due and payable, either the Trustee or the Holders of not less a majority in aggregate principal amount of such series or Tranche of Senior Securities then outstanding, by notice in writing to the Company (and to the Trustee if given by such Holders), may declare the principal of and interest on all the Senior Securities of such series or Tranche (or if any of the Senior Securities are Original Issue Discount Securities or Indexed Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) to be due and payable immediately and upon any such declaration the same shall become immediately due and payable, anything in this Indenture or in the Senior Securities of such series or Tranche contained to the contrary notwithstanding; provided, however, that if an Event of Default has occurred and is continuing with respect to more than 25% one series or Tranche of Senior Securities, the Trustee or the Holders of a majority in aggregate principal amount of the Outstanding Senior Securities of that series may declare the principal amount (or, or if any of the Senior Securities of that series are Original Issue Discount Securities or Indexed Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) of all such series or Tranches (voting as one class) may make such declaration of acceleration, and not the Holders of the Senior Securities of that any one of such series or Tranches. If an Event of Default with respect to be any series or Tranche of Subordinated Securities at the time Outstanding occurs and is continuing, then, unless the principal of and interest on such series or Tranche of Subordinated Securities has already become due and payable immediatelypayable, either the Trustee or the Holders of a majority in aggregate principal amount of the Subordinated Securities of such series or Tranche then outstanding, by a notice in writing to the Company (and to the Trustee if given by such Holders), may declare the principal of and interest on all the Subordinated Securities of such series or Tranche (or if any of the Subordinated Securities are Original Issue Discount Securities or Indexed Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) to be due and payable immediately and upon any such declaration such principal amount (or specified amount) the same shall become immediately due and payable, anything in this Indenture or in the Subordinated Securities of such series contained to the contrary notwithstanding; provided, however, that if an Event of Default has occurred and is continuing with respect to more than one series or Tranche of Subordinated Securities, the Trustee or the Holders of a majority in aggregate principal amount of the Outstanding Subordinated Securities (or if any of the Subordinated Securities are Original Issue Discount Securities or Indexed Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) of all such series or Tranche (voting as one class) may make such declaration of acceleration, and not the Holders of the Subordinated Securities of any one of such series or Tranches. In the case of any declaration of acceleration of the Stated Maturity of any Original Issue Discount Securities or Indexed Securities of a series, the Company shall furnish the Trustee with an Officer’s Certificate stating the amount of principal to be paid to a Holder of $1,000 principal amount of such Securities. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders Event or Events of a majority in principal amount Default giving rise to such declaration of the Outstanding Securities of that seriesacceleration shall, by written notice without further act, be deemed to the Company have been waived, and the Trustee, may rescind and annul such declaration and its consequences if
(1) the Company has paid or deposited with the Trustee a sum sufficient shall, without further act, be deemed to pay
(A) all overdue interest on all Securities of that series,
(B) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon.rescinded and annulled, if
Appears in 6 contracts
Sources: Indenture (Core Molding Technologies Inc), Indenture (Core Molding Technologies Inc), Indenture (Fox Factory Holding Corp)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than at least 25% in aggregate principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) of that series), together with any accrued and unpaid interest thereon, of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) ), together with any accrued and unpaid interest thereon, shall become immediately due and payable. Notwithstanding the foregoing, if an Event of Default specified in clause (e) or (f) of Section 5.1 occurs, the Securities of any series at the time Outstanding shall be due and payable immediately without further action or notice. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article Five provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if:
(1a) the Company has paid or deposited with the Trustee a sum sufficient to pay:
(Ai) all overdue interest on all Securities of that series,
(Bii) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(Ciii) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and
(Div) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2b) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 6 contracts
Sources: Indenture (Alto Ingredients, Inc.), Indenture (Pacific Ethanol, Inc.), Indenture (Globalstar, Inc.)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time then Outstanding occurs shall have occurred and is be continuing, then then, in each and every such case case, the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its the consequences of the Event of Default if:
(1) the Company has paid or deposited with the Trustee a sum sufficient to pay
pay (A) all overdue interest on all Securities of that series,
, (B) the principal of (and premium, if any, on) any Securities of that all affected series which have become due otherwise than by such declaration of acceleration and any interest thereon on such Securities at the rate or rates prescribed therefor in such Securities,
, (C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and
and (D) all sums paid or advanced by the Trustee hereunder under this Indenture and the reasonable compensation, expenses, disbursements disbursements, and advances of the Trustee, its agents agents, and counsel; and
(2) all Events of Default with respect to Securities of that all affected series, other than the non-payment of the principal of Securities of that the affected series which have has become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereonright. For all purposes under this Indenture, if a portion of the principal of any Original Issue Discount Securities shall have been accelerated and declared due and payable pursuant to the provisions of this Indenture, then, from and after the date of such Event of Default, unless such Event of Default has been rescinded and annulled as provided above, the principal amount of such Original Issue Discount Securities shall be deemed, for all purposes under this Indenture, to be such portion of the principal as shall be due and payable as a result of such acceleration, and the payment of such portion of the principal as shall be due and payable as a result of such acceleration, together with interest, if any, on such portion and all other amounts owing under such Original Issue Discount Security, shall constitute payment in full of such Original Issue Discount Securities.
Appears in 6 contracts
Sources: Indenture (Valley National Bancorp), Indenture (Berkshire Hills Bancorp Inc), Indenture (Valley National Bancorp)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Debt Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Debt Securities of that such series may declare the principal amount (or, if any of the Debt Securities of that such series are Original Issue Discount Securities, such portion of the principal amount of such Discount Securities as may be specified in the terms thereofof such Discount Securities) of all of the Debt Securities of that such series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) plus accrued and unpaid interest (and premium, if payable) shall become immediately due and payable. Upon payment of such amount in the Currency in which such Debt Securities are denominated (except as otherwise provided pursuant to Sections 3.01 or 3.10), all obligations of the Company in respect of the payment of principal of the Debt Securities of such series shall terminate. At any time after such a declaration of acceleration with respect to Debt Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of at least a majority in principal amount of the Outstanding Debt Securities of that such series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if:
(1) the Company has paid or deposited with the Trustee a sum in the Currency in which such Debt Securities are denominated (except as otherwise provided pursuant to Section 3.01 or 3.10) sufficient to pay
(A) all overdue installments of interest on all Debt Securities or all overdue payments with respect to any Coupons of that such series,
(B) the principal of (and premium, if any, on) any Debt Securities of that such series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Debt Securities,
(C) to the extent that payment of such interest is lawful, interest upon overdue installments of interest on each Debt Security of such series or upon overdue payments on any Coupons of such series at the rate or rates prescribed therefor in such SecuritiesOverdue Rate, and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; PROVIDED, HOWEVER, that all sums payable under this clause (D) shall be paid in Dollars; and
(2) all All Events of Default with respect to Debt Securities of that such series, other than the non-payment nonpayment of the principal of Debt Securities of that such series which have has become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission and waiver shall affect any subsequent default or impair any right consequent thereon.
Appears in 5 contracts
Sources: Indenture (Harrahs Entertainment Inc), Indenture (Hilton Hotels Corp), Indenture (Hilton Hotels Corp)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% a specified percentage in aggregate principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereofof that series) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. Notwithstanding the foregoing, if an Event of Default specified in clause (5) or (6) of Section 5.1 occurs, the Securities of any series at the time Outstanding shall be due and payable immediately without further action or notice. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article Five provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if:
(1) the Company or, if applicable, one or more of the Guarantors has paid or deposited with the Trustee a sum sufficient to pay:
(Aa) all overdue interest on all Securities of that series,
(Bb) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(Cc) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and
(Dd) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 5 contracts
Sources: Indenture (Frontier Oil Corp /New/), Indenture (Comstock Resources Inc), Indenture (Frontier Oil Corp /New/)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in aggregate principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereofof that series) and all accrued and unpaid interest of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. Notwithstanding the foregoing, if an Event of Default specified in clause (e) or (f) of Section 5.1 occurs, the Securities of any series at the time Outstanding shall be due and payable immediately without further action or notice. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article Five provided, the Holders of a majority in aggregate principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if:
(1a) the Company or, if applicable, one or more of the Guarantors has paid or deposited with the Trustee a sum sufficient to pay:
(Ai) all overdue interest on all Securities of that series,;
(Bii) the principal of (and premium, if any, on) any Securities of that series which have that has become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,;
(Ciii) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, ; and
(Div) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2b) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have that has become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 5 contracts
Sources: Indenture (Sun Communities Inc), Indenture (Sun Communities Operating Limited Partnership), Indenture (Just Energy Group Inc.)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to any particular series of Debt Securities of any series at the time Outstanding occurs and is continuing, then and in every such case either the Trustee for the Debt Securities of such series or the Holders of not less than 25% in principal amount of the Outstanding Debt Securities of that series may declare the entire principal amount (or, if any in the case of the Securities of that series are Original Issue Discount Discounted Debt Securities, such portion of the principal lesser amount of such Securities as may be specified provided for in the terms thereofof that series) of all of the Debt Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the such Trustee if given by Holders), and upon any such declaration of acceleration such principal amount (or specified such lesser amount) , as the case may be, together with accrued interest and all other amounts owing hereunder, shall become immediately due and payable, without presentment, demand, protest or notice of any kind, all of which are hereby expressly waived. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee for the Debt Securities of any series as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Debt Securities of that series, by written notice to the Company and the such Trustee, may rescind and annul such declaration and its consequences if:
(1) the Company has paid or deposited with the such Trustee a sum sufficient to pay
(A) all overdue interest on all Debt Securities of that series,;
(B) the principal of (and premium, if any, on) any Debt Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon from the date such principal became due at a rate per annum equal to the rate or rates prescribed therefor borne by the Debt Securities of such series (or, in the case of Discounted Debt Securities, the Debt Securities' Yield to Maturity), to the extent that the payment of such Securities,interest shall be legally enforceable;
(C) to the extent that payment of such interest is lawful, interest upon overdue interest at a rate per annum equal to the rate or rates prescribed therefor borne by the Debt Securities of such series (or, in such the case of Discounted Debt Securities, the Debt Securities' Yield to Maturity); and
(D) all sums paid or advanced by the such Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the such Trustee, its agents and counselcounsel and all other amounts due to such Trustee under Section 6.7; and
(2) all Events of Default with respect to the Debt Securities of that such series, other than the non-payment nonpayment of the principal of Debt Securities of that series which have has become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 5 contracts
Sources: Indenture (American Financial Group Inc), Indenture (Provident Capital Trust Iv), Indenture (American Financial Group Inc)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default (other than an Event of Default under Section 5.01(vi)) occurs and is continuing with respect to Securities of any series at the time Outstanding occurs and is continuingSeries, then and in every such case either the Indenture Trustee or the Holders of Environmental Control Bonds representing not less than 25% in principal amount a majority of the Outstanding Securities Amount of that series may the Environmental Control Bonds of such Series may, but need not, declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount Environmental Control Bonds of such Securities as may be specified in the terms thereof) of all of the Securities of that series Series to be immediately due and payable immediatelypayable, by a notice in writing to the Company Issuer (and to the Indenture Trustee and the PSCWV if given by HoldersEnvironmental Control Bondholders), and upon any such declaration such the unpaid principal amount (or specified amount) of the Environmental Control Bonds of such Series, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Environmental Control Bonds representing a majority in principal amount of the Outstanding Securities Amount of that seriesthe Environmental Control Bonds of such Series, by written notice to the Company Issuer, the PSCWV and the Indenture Trustee, may rescind and annul such declaration and its consequences if:
(1i) the Company Issuer has paid or deposited with the Trustee Indenture Trustee, for deposit in the General Subaccount of the Collection Account, a sum sufficient to pay
(A) all overdue interest on all Securities payments of that series,
(B) the principal of (and premium, if any, on) any Securities and interest on all Environmental Control Bonds of all Series due and owing and all other amounts that series which have become would then be due otherwise than by hereunder or upon such declaration Environmental Control Bonds if the Event of Default giving rise to such acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, had not occurred; and
(DB) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, Indenture Trustee and its agents and counsel; and
(2ii) all Events of Default with respect to Securities of that seriessuch Series, other than the non-payment nonpayment of the principal of Securities the Environmental Control Bonds of such Series during that series which have has become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.135.12. No such rescission shall affect any subsequent default Event of Default or impair any right consequent thereonthereto.
Appears in 5 contracts
Sources: Indenture (MP Environmental Funding LLC), Indenture (MP Environmental Funding LLC), Indenture (PE Environmental Funding LLC)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then and in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities or Indexed Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by the Holders), and upon any such declaration such principal amount (or specified amount) portion thereof shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article Five provided, the Holders of not less than a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration of acceleration and its consequences if:
(1a) the Company has paid or deposited with the Trustee a sum sufficient to paypay in the currency, currency unit or composite currency in which the Securities of such series are payable (except as otherwise specified pursuant to Section 3.1 for the Securities of such series):
(Ai) all overdue installments of interest on and any Additional Amounts payable in respect of all Outstanding Securities of that series,series and any related coupons;
(Bii) the principal of (and premium, if any, on) any Outstanding Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor borne by or provided for, as the case may be, in such Securities,;
(Ciii) to the extent that payment of such interest is lawful, interest upon overdue installments of interest and any Additional Amounts at the rate or rates prescribed therefor in borne by or provided for in, as the case may be, such Securities, ; and
(Div) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2b) all Events of Default with respect to Securities of that series, other than the non-payment nonpayment of the principal of (or premium, if any) or interest on Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 5 contracts
Sources: Indenture (Viasat Inc), Indenture (Leap Wireless International Inc), Indenture (Price Legacy Corp)
Acceleration of Maturity; Rescission and Annulment. If an Event one or more of the Events of Default specified in Section 5.01 shall have occurred and be continuing with respect to Securities any particular series of any series at the time Outstanding occurs and is continuingSecurities, then in each and every such case case, unless the principal of all the Securities of that series shall have already become due and payable, either the Trustee or the Holders of not less than 25% in aggregate principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) of all of the Securities of that series to be due and payable immediatelythen Outstanding hereunder, by a notice in writing to the Company (and to the Trustee if given by Holders), may declare the principal amount (or, if the Securities of that series are Original Issue Discount Securities, such amount of principal as may be specified by the terms of that series) of all the Securities of that series to be due and payable immediately, and upon any such declaration such principal amount (or specified amount) the same shall become and shall be immediately due and payable. At Notwithstanding the foregoing, at any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in the principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration declarations and its consequences if:
(1) the Company has paid or deposited with the Trustee a sum sufficient to pay:
(A) all overdue interest on all Securities of that series,
(B) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and other amounts due to Trustee under Section 6.07; and
(2) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of (and premium, if any) and accrued interest on the Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 5 contracts
Sources: Indenture (Goodyear Tire & Rubber Co /Oh/), Indenture (Goodyear Tire & Rubber Co /Oh/), Indenture (Goodyear Tire & Rubber Co /Oh/)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default (other than an Event of Default resulting from bankruptcy, insolvency or reorganization) with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereofof that series) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. In the case of an Event of Default resulting from bankruptcy, insolvency or reorganization, which occurs and is continuing with respect to Securities of any series at the time Outstanding, then all unpaid principal of and accrued interest on all such Outstanding Securities of that series shall become immediately due and payable without any notice or other action on the part of the Trustee or the Holders of any Securities of such series. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if:
(1) the Company or the Guarantor has paid or deposited with the Trustee a sum sufficient to pay
(Aa) all overdue interest (including Defaulted Interest) on all Securities of that series,
(Bb) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(Cc) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and
(Dd) all sums paid or advanced by the Trustee and any predecessor Trustee hereunder and all sums due the reasonable compensation, expenses, disbursements Trustee and advances of the Trustee, its agents and counselany predecessor Trustee under Section 6.07; and
(2) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 4 contracts
Sources: Indenture (Xl Group PLC), Indenture (Xl Group PLC), Indenture (XL Group Ltd.)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then and in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that such series may declare the principal amount of all the Securities of such series (or, if any in the case of the Securities of such series that series are Original Issue Discount Securities or Indexed Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by HoldersSecurityholders), and upon any such declaration such principal amount (or specified amountor, as the case may be, such portion thereof) shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that such series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if
(1) the Company has paid or deposited with the Trustee a sum sufficient to pay, in the Currency in which the Securities of that series are payable (except as may otherwise be specified pursuant to Section 3.01 for such series and except as may be provided in Section 3.10, if and to the extent applicable)
(A) all overdue interest installments of interest, if any, on all Outstanding Securities of that such series, and the coupons, if any, appertaining thereto,
(B) the principal of (and premium, if any, on) any Outstanding Securities of that such series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor borne by such Securities (or, in the case of Securities of such series that are Original Issue Discount Securities, the Yield to Maturity in respect thereof),
(C) to the extent that payment of such interest is lawful, interest upon overdue interest installments of interest, if any, at the rate or rates prescribed therefor borne by such Securities (or, in the case of Securities of such series, and the coupons, if any, appertaining thereto that are Original Issue Discount Securities, the Yield to Maturity in respect thereof), and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2) all Events of Default with respect to Securities of that such series, other than the non-payment of the principal of (or premium, if any) or interest, if any, on Securities of that such series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 4 contracts
Sources: Indenture (Meritor, Inc. (Nev)), Indenture (Meritor Electric Vehicles, LLC), Indenture (Maremont Exhaust Products, Inc.)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then and in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may (and the Trustee shall at the request of such Holders) declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities or Indexed Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by the Holders), and upon any such declaration such principal amount (or specified amount) portion thereof shall become immediately due and payable. Any application by the Trustee for written instructions from the requisite amount of Holders (as determined pursuant to this Indenture) may, at the option of the Trustee, set forth in writing any action proposed to be taken or omitted by the Trustee under this Indenture and the date on and/or after which such action shall be taken or such omission shall be effective. The Trustee shall not be liable for any action taken by, or omission of, the Trustee in accordance with a proposal included in such application on or after the date specified in such application unless prior to taking any such action (or the effective date in the case of an omission), the Trustee shall have received written instructions from the requisite amount of Holders (as determined pursuant to this Indenture) in response to such application specifying the action to be taken or omitted. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter provided in this Article providedArticle, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if
(1) the Company has paid or deposited with the Trustee a sum sufficient to pay
(A) all overdue interest on all Securities of that series,
(B) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon.:
Appears in 4 contracts
Sources: Indenture (Terra Property Trust, Inc.), Indenture (CM Finance Inc), Indenture (FIDUS INVESTMENT Corp)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding of Securities occurs and is continuing, then and in every such case the Trustee or the Holders of not less than 25% in aggregate principal amount of the Securities Outstanding Securities of that such series may declare the principal amount (or, if any of the Securities of that such series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) of all of the Securities of that such series) of all the Securities of such series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by HoldersHolders of Securities), and upon any such declaration such principal amount (or specified amount) the same shall become immediately due and payable. Payment of principal and interest (including any Additional Interest) on such Securities shall remain subordinated to the extent provided in Article Eleven notwithstanding that such amount shall become immediately due and payable as herein provided. At any time after such a declaration of acceleration with respect to Securities of any series of Securities has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that such series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if:
(1) the Company has paid or deposited with the Trustee a sum sufficient to pay
(A) all overdue installments of interest on all Securities of that such series,;
(B) the principal of (and premium, if any, on) any Securities of that such series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in by the terms of the Securities of such Securities,series;
(C) to the extent that payment of such interest is lawful, interest upon overdue installments of interest at the rate or rates prescribed therefor in by the terms of the Securities of such Securities, andseries;
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2) all Events of Default with respect to Securities of that seriesDefault, other than the non-payment nonpayment of the principal of Securities of that such series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.137.13. No such rescission shall affect any subsequent default or impair any right consequent thereon. In case the Trustee shall have proceeded to enforce any right under this Indenture and such proceedings shall have been discontinued or abandoned because of such rescission or annulment or for any other reason or shall have been determined adversely to the Trustee, then and in every such case the Company and the Trustee shall be restored respectively to their several positions and rights hereunder, and all rights, remedies and powers of the Company and the Trustee shall continue as though no such proceedings had been taken. For all purposes under this Indenture, if a portion of the principal of any Original Issue Discount Securities shall have been accelerated and declared due and payable pursuant to the provisions hereof, then, from and after such declaration, unless such declaration has been rescinded and annulled, the principal amount of such Original Issue Discount Securities shall be deemed, for all purposes hereunder, to be such portion of the principal thereof as shall be due and payable as a result of such acceleration, and payment of such portion of the principal thereof as shall be due and payable as a result of such acceleration, together with interest, if any, thereon and all other amounts owing thereunder, shall constitute payment in full of such Original Issue Discount Securities. Upon receipt by the Trustee of any declaration of acceleration, or rescission and annulment thereof, with respect to Securities of a series all or part of which is represented by a Global Security, a record date shall be established for determining Holders of Securities Outstanding of such series entitled to join in such declaration of acceleration, or rescission and annulment, as the case may be, which record date shall be at the close of business on the day the Trustee receives such declaration of acceleration, or rescission and annulment, as the case may be. The Holders on such record date, or their duly designated proxies, and only such Persons, shall be entitled to join in such declaration of acceleration, or rescission and annulment, as the case may be, whether or not such Holders remain Holders after such record date; provided, that unless such declaration of acceleration, or rescission and annulment, as the case may be, shall have become effective by virtue of the requisite percentage having been obtained prior to the day which is 90 days after such record date, such declaration of acceleration, or rescission and annulment, as the case may be, shall automatically and without further action by any Holder be canceled and of no further effect. Nothing in this paragraph shall prevent a Holder, or a proxy of a Holder, from giving, after expiration of such 90-day period, a new declaration of acceleration, or rescission or annulment thereof, as the case may be, that is identical to a declaration of acceleration, or rescission or annulment thereof, which has been canceled pursuant to the proviso to the preceding sentence, in which event a new record date shall be established pursuant to the provisions of this Section 7.02.
Appears in 4 contracts
Sources: Subordinated Notes Indenture (First Midwest Bancorp Inc), Subordinated Notes Indenture (First Midwest Bancorp Inc), Subordinated Notes Indenture (Bok Financial Corp Et Al)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in aggregate principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereofof that series) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company Partnership (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. Notwithstanding the foregoing, if an Event of Default specified in clause (e) or (f) of Section 5.1 occurs, the Securities of any series at the time Outstanding shall be due and payable immediately without further action or notice. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article Five provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company Partnership and the Trustee, may rescind and annul such declaration and its consequences if:
(1a) the Company Partnership or, if applicable, one or more of the Guarantors has paid or deposited with the Trustee a sum sufficient to pay:
(Ai) all overdue interest on all Securities of that series,;
(Bii) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,;
(Ciii) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, ; and
(Div) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2b) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 4 contracts
Sources: Indenture (Cheniere Energy Partners, L.P.), Indenture (Cheniere Energy Partners, L.P.), Indenture (Cheniere Energy Partners, L.P.)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or Special Servicer may, to the Holders of not less than 25% in principal amount extent consistent with the Servicing Standards and, at the direction of the Outstanding Securities of that series may declare the principal amount (orMajority Holders, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) of all of the Securities of that series to be due and payable immediatelyshall, by a notice in writing to the Company Issuer and the Trustee, declare the sum of (and i) the principal amount of all Outstanding Notes and, to the Trustee if given extent permitted under the Underlying Loan Documentation, the Underlying Loans and (ii) any other amounts, including but not limited to, accrued interest payable to the Holders under the Notes, to the extent such amounts are permitted by Holders)law to be paid, to be due and payable immediately, and upon any such declaration such principal amount (or specified amount) amounts shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series the Notes or the Underlying Loans has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee or the Servicer as hereinafter provided in this Article providedArticle, and subject to the Servicer's and Special Servicer's obligation to act in accordance with the Servicing Standards, the Majority Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company Issuer, the Trustee, the Servicer and the TrusteeSpecial Servicer, may rescind and annul such declaration and its consequences if:
(1a) the Company Issuer has paid or caused to be deposited with the Trustee (or the Servicer or Special Servicer on the Trustee's behalf) a sum sufficient to pay:
(Ai) all overdue interest due and payable on all Securities of that seriesOutstanding Notes,
(Bii) the principal of (and premium, if any, on) any Securities of that series which have become all other amounts due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates or in the amount prescribed therefor in such SecuritiesNotes,
(C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and
(Diii) all sums Advanced (with interest thereon at the Advance Interest Rate) or paid or advanced by the Trustee Trustee, the Fiscal Agent (if any), the Special Servicer or the Servicer hereunder and the reasonable compensation, expenses, expenses and disbursements and advances of the Trustee, the Fiscal Agent, Special Servicer and the Servicer and its agents and counsel, and
(iv) any other amounts then due and payable under the Indenture or any Indenture Security Document (other than principal that became due solely as a consequence of such acceleration); and
(2b) all Events of Default with respect to Securities of that seriesDefault, other than the non-payment of the principal of Securities of that series the Outstanding Notes which have has become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13 and all "Events of Default" under the Mortgage and the Mezzanine Loan Agreement, other than the non-payment of the principal of the Mortgage Loan or Mezzanine Loan, as applicable, which has become due solely by a declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon. If the Issuer fails to make a payment when due, and then delivers to the Trustee funds sufficient to make all payments current, absent acceleration, and the Servicer or the Special Servicer on behalf of the Holders agrees in writing to accept such payment and to rescind the declaration of an Event of Default or acceleration, or the Majority Holders, prior to an acceleration, agree to rescind the declaration of an Event of Default, in either case, the Holders shall also be deemed to waive the right to claim that the failure to make the payment when due was an Event of Default and is continuing.
Appears in 4 contracts
Sources: Indenture and Servicing Agreement (Gotham Golf Corp), Indenture and Servicing Agreement (Gotham Golf Corp), Indenture and Servicing Agreement (Gotham Golf Corp)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default (other than an Event of Default described in clause (f) or (g) of Section 5.1) with respect to Securities of any series Notes at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders holders of not less than 25% in principal amount of the Outstanding Securities of that series Notes may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) of all of the Securities of that series Notes to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holdersholders), and upon any such declaration such principal amount (or specified amount) plus accrued and unpaid interest (and premium, if payable) shall become immediately due and payable. Upon payment of such amount all obligations of the Company in respect of the payment of principal of the Notes shall terminate. At any time after such a declaration of acceleration with respect to Securities of any series Notes has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders holders of at least a majority in principal amount of the Outstanding Securities of that seriesNotes, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if:
(1a) the Company has paid or deposited with the Trustee a sum sufficient to pay
(A1) all overdue installments of interest on all Securities of that seriesNotes,
(B2) the principal of (and premium, if any, on) any Securities of that series Notes which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such SecuritiesNotes,
(C3) to the extent that payment of such interest is lawful, interest upon overdue installments of interest on each Note at the rate or rates prescribed therefor in such SecuritiesNotes, and
(D4) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2b) all Events of Default with respect to Securities of that seriesNotes, other than the non-payment nonpayment of the principal of Securities of that series Notes which have has become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission and waiver shall affect any subsequent default or impair any right consequent thereon. If an Event of Default described in clause (f) or (g) of Section 5.1 occurs with respect to the Company or any Significant Subsidiary, the principal of, premium, if any, and accrued interest on the Notes shall be due and payable immediately without any further action or notice.
Appears in 4 contracts
Sources: Indenture (MGM Mirage), Indenture (MGM Mirage), Indenture (MGM Mirage)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default (other than a Bankruptcy Default) with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than at least 25% in principal amount of the Outstanding Securities of that series may declare the principal amount of all the Securities of that series (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in by the terms thereof) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company and the Guarantors (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. If a Bankruptcy Default with respect to Securities of any series at the time Outstanding occurs, the principal amount of all the Securities of that series (or, if any Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified by the terms thereof) shall automatically, and without any declaration or other action on the part of the Trustee or any Holder, become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Guarantors and the Trustee, may rescind and annul such declaration and its consequences if:
(1a) the Company or any Guarantor has paid or deposited with the Trustee a sum sufficient to pay:
(Ai) all overdue interest on all Securities of that series,
(Bii) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,, and
(Ciii) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, andif any;
(Db) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2c) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 4 contracts
Sources: Subordinated Indenture (Medtronic Inc), Senior Indenture (Medtronic PLC), Subordinated Indenture (Medtronic Inc)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 2533% in principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if
(1) the Company has paid or deposited with the Trustee a sum sufficient to pay
(A) all overdue interest on on, and any additional amounts payable as set forth in SECTION 10.04 on, all Securities of that seriesseries and any coupons appertaining thereto,
(B) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(C) to the extent that payment of such interest is lawful, interest upon overdue interest interest, and any additional amounts payable as set forth in SECTION 10.04 on, at the rate or rates prescribed therefor in such Securities, and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section SECTION 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 4 contracts
Sources: Subordinated Indenture (Illinois Power Co), Subordinated Indenture (Illinois Power Co), Indenture (Illinois Power Co)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount of (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. If an Event of Default under Section 5.01(4) or Section 5.01(5) occurs and is continuing then the principal amount of all of the Securities shall be due and payable immediately. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if
(1) the Company has paid or deposited with the Trustee a sum sufficient to pay
(A) all overdue interest on all Securities of that series,
(B) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and
(D) all sums paid or advanced by the Trustee hereunder and the compensation and reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default Default or impair any right consequent thereon. When any Default has occurred and is continuing under this Indenture, the Company shall, within five (5) Business Days after becoming aware of such Default, deliver to the Trustee an Officers’ Certificate specifying such Default, its status and what actions the Company is taking or proposed to take with respect thereto.
Appears in 3 contracts
Sources: Indenture (Financial Institutions Inc), Indenture (Financial Institutions Inc), Indenture (Financial Institutions Inc)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then and in every such case the Trustee or the Holders of not less than 25% a majority in principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if
(1) the Company has paid or deposited with the Trustee a sum sufficient to pay
(A) all overdue interest on all Securities of that series, other than interest deferred in accordance with the provisions of any supplemental indenture,
(B) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and;
(2) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 3 contracts
Sources: Indenture (Citizens Utilities Capital L P), Indenture (Citizens Utilities Capital L P), Indenture (Citizens Utilities Capital L P)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Senior Debt Securities of any series at the time Outstanding occurs and is continuingcontinuing (except in any such case for a solvent winding-up solely for the purpose of a merger, reconstruction or amalgamation of the Issuer, the terms of which reorganization, reconstruction or amalgamation (i) have previously been approved in writing by a majority of Holders and (ii) do not provide that the Senior Debt Securities shall thereby become redeemable or repayable in accordance with the terms of the Senior Debt Securities), then in every such case the Trustee may, or if so requested by the Holders of not less than 25% in principal amount of the Outstanding Senior Debt Securities of that series may series, shall declare the principal amount (or, if any in the case of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereofaccreted face amount) together with accrued interest, if any, of all of the Senior Debt Securities of that series to be due and payable immediately, by a notice in writing to the Company Issuer (and to the Trustee if given by the Holder or Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Senior Debt Securities of any series has been made and but before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holder or Holders of a majority in aggregate principal amount of the Outstanding Senior Debt Securities of that such series, by written notice to the Company Issuer and the Trustee, may rescind and or annul such declaration of acceleration and its consequences if
(1) consequences, but only if the Company Issuer has paid to or deposited with the Trustee a sum sufficient to pay:
(A) all overdue interest on all Securities of that series,
(Bi) the principal of (and premium, if any, on) any Senior Debt Securities of that such series which have become due otherwise than by such declaration of acceleration and any interest due and payable interest, and overdue interest, if any, thereon at the rate or rates prescribed therefor in such Securities,
(C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Senior Debt Securities, and
(Dii) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 3 contracts
Sources: Supplemental Indenture (Santander Uk Group Holdings PLC), Supplemental Indenture (Santander Uk Group Holdings PLC), Supplemental Indenture (Santander Uk Group Holdings PLC)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding Outstanding, occurs and is continuing, then in every such case case, unless the principal of all of the Securities of such series shall have already become due and payable, the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any in the case of certain Securities which provide for less than the entire principal amount thereof to be due and payable upon a declaration of acceleration of the Securities of that series are Original Issue Discount Securitiesmaturity thereof pursuant to this Section 5.02, such portion of the principal amount of such Securities as may be specified in the terms thereofof that series of Securities) and the interest accrued thereon of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) and interest accrued thereon shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if
(1) the Company has paid or deposited with the Trustee a sum in the Currency in which such Securities are denominated (except as otherwise provided pursuant to Section 3.01) sufficient to pay
(A) all overdue interest on all Securities of that series,
(B) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and;
(2) all Events of Default with respect to Securities of that series, other than the non-payment nonpayment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon. For all purposes under this Indenture, if a portion of the principal of any Original Issue Discount Securities shall have been accelerated and declared due and payable pursuant to the provisions hereof, then, from and after such declaration, unless such declaration shall have been rescinded and annulled, the principal amount of such Original Issue Discount Securities shall be deemed, for all purposes hereunder, to be such portion of the principal thereof as shall be due and payable as a result of such declaration; and payment of the portion of the principal thereof as shall have become due and payable as a result of such declaration, together with interest, if any, thereon and all other amounts owing thereunder, shall constitute payment in full of such Original Issue Discount Securities.
Appears in 3 contracts
Sources: Indenture (Tribune Co), Trust Indenture (Tribune Co), Indenture (Tribune Co)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to any particular series of Securities of any series at the time Outstanding occurs and is continuing, then in every the Senior Trustee for the Securities of such case the Trustee series or the Holders of not less than 25% in aggregate principal amount of the Outstanding Securities of that series may exercise any right, power or remedy permitted by law, and shall have, in particular, without limiting the generality of the foregoing, the right to declare the entire principal amount of (orincluding premium, if any any, on), or (in the case of Discounted Securities) such lesser amount as may be provided for with respect to the Securities of that series are Original Issue Discount Securitiessuch series, such portion of and unless otherwise provided in a Board Resolution or supplemental indenture pursuant to Section 3.01 hereof, any accrued but unpaid interest on, all the principal amount of such Securities as may be specified in the terms thereof) of all of the Outstanding Securities of that series to be due and payable immediately, by a notice in writing to the Company Issuer (and to the Senior Trustee if given by Holders), and upon . Upon any such declaration of acceleration such principal amount or such lesser amount, as the case may be, including premium, if any, thereon, together with any accrued interest and all other amounts owing thereunder and hereunder (or specified amount) with respect to such series of Securities), shall become immediately due and payable, without presentment, demand, protest or notice of any kind, all of which are hereby expressly waived. At any time after such a declaration of acceleration with respect to Securities of any series has been made and made, but before a judgment or decree for payment of the money due has been obtained by the Senior Trustee for the Securities of any series as hereinafter in this Article provided, the Holders of a majority in aggregate principal amount of the Outstanding Securities of that series, by written notice to the Company Issuer and the such Senior Trustee, may rescind and annul such declaration and its consequences ifprovided:
(1) the Company Issuer has paid or deposited with the such Senior Trustee a sum sufficient to pay:
(A) all overdue interest on all Securities of that series,;
(B) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon from the date such principal became due at a rate per annum equal to the rate or rates prescribed therefor borne by the Securities of such series (or, in the case of Discounted Securities, the Securities’ Yield to Maturity), to the extent that the payment of such Securities,interest shall be legally enforceable;
(C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor or in the Securities of such series (or, unless otherwise specified pursuant to Section 3.01, in the case of Discounted Securities, the Securities’ Yield to Maturity); and
(D) in Dollars, all sums paid or advanced by the Senior Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the such Senior Trustee, its agents and counselcounsel and all other amounts then due to such Senior Trustee under Section 6.07; and
(2) all Events of Default with respect to the Securities of that such series, other than the non-payment of the principal of (or premium, if any, on) Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 3 contracts
Sources: Senior Indenture (Prudential Funding (Asia) PLC), Senior Indenture, Senior Indenture
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then and in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities or Indexed Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by the Holders), and upon any such declaration such principal amount (or specified amount) portion thereof shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article V provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration of acceleration and its consequences if:
(1a) the Company has paid or deposited with the Trustee a sum sufficient to paypay in the currency, currency unit or composite currency in which the Securities of such series are payable (except as otherwise specified pursuant to Section 3.01 for the Securities of such series):
(Ai) all overdue installments of interest on and any Additional Amounts payable in respect of all Outstanding Securities of that series,series and any related coupons;
(Bii) the principal of (and premium, if any, on) any Outstanding Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor borne by or provided for in such Securities,;
(Ciii) to the extent that payment of such interest is lawful, interest upon overdue installments of interest and any Additional Amounts at the rate or rates prescribed therefor borne by or provided for in such Securities, ; and
(Div) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2b) all Events of Default with respect to Securities of that series, other than the non-payment nonpayment of the principal of (or premium, if any) or interest on Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 3 contracts
Sources: Indenture (Franchise Finance Corp of America), Indenture (Metropolitan Mortgage & Securities Co Inc), Indenture (Franchise Finance Corp of America)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then and in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities or Indexed Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by the Holders), and upon any such declaration such principal amount (or specified amountportion thereof shall become immediately due and payable. If an Event of Default specified in Section 5.1(5) or 5.1(6) occurs, the principal of, and accrued interest (including Additional Amounts) on, all the Securities shall automatically, and without any declaration or other action on the part of the Trustee or any Holder, become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if:
(1) the Company has paid or deposited with the Trustee a sum sufficient to paypay in the currency or currency unit or composite currency in which the Securities of such series are payable (except as otherwise specified pursuant to Section 3.1 for the Securities of such series):
(A) all overdue installments of interest on and any Additional Amounts payable in respect of all Outstanding Securities of that seriesseries and any related coupons,
(B) the principal of (and premium, if any, on) any Outstanding Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor borne by or provided for in such Securities,
(C) to the extent that payment of such interest is lawful, interest upon overdue installments of interest and any Additional Amounts at the rate or rates prescribed therefor borne by or provided for in such Securities, and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2) all Events of Default with respect to Securities of that series, other than the non-payment nonpayment of the principal of (or premium, if any) or interest on Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 3 contracts
Sources: Indenture (Sirius Satellite Radio Inc), Indenture (Cd Radio Inc), Indenture (Sirius Satellite Radio Inc)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Debt Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Debt Securities of that such series may declare the principal amount (or, if any of the Debt Securities of that such series are Original Issue Discount Securities, such portion of the principal amount of such Discount Securities as may be specified in the terms thereofof such Discount Securities) of all of the Debt Securities of that such series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) plus accrued and unpaid interest (and premium, if payable) shall become immediately due and payable. Upon payment of such amount in the Currency in which such Debt Securities are denominated (except as otherwise provided pursuant to Section 3.01 or 3.10), all obligations of the Company in respect of the payment of principal of the Debt Securities of such series shall terminate. At any time after such a declaration of acceleration with respect to Debt Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article providedissued based on such acceleration, the Holders of a majority in principal amount of the Outstanding Debt Securities of that such series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if
(1) the Company has paid or deposited with the Trustee a sum in the Currency in which such Debt Securities are denominated (except as otherwise provided pursuant to Section 3.01 or 3.10) sufficient to pay
(A) all overdue installments of interest on all Debt Securities of that such series,
(B) the principal of (and premium, if any, on) any Debt Securities of that such series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Debt Securities,
(C) to the extent that payment of such interest is lawfullegally enforceable, interest upon overdue installments of interest on each Debt Security of such series at the rate or rates prescribed therefor in such SecuritiesOverdue Rate, and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; provided, however, that all sums payable under this clause (D) shall be paid in Dollars; and
(2) all All Events of Default with respect to Debt Securities of that such series, other than the non-payment nonpayment of the principal of Debt Securities of that such series which have has become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission and waiver shall affect any subsequent default or impair any right consequent thereon.
Appears in 3 contracts
Sources: Senior Indenture (Magnum Hunter Resources Inc), Senior Indenture (Meridian Resource CORP), Subordinated Indenture (Meridian Resource CORP)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then and in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities or Indexed Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by the Holders), and upon any such declaration such principal amount (or specified amount) portion thereof shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article V provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration of acceleration and its consequences if:
(1) the Company has paid or deposited with the Trustee a sum sufficient to paypay in the currency unit or composite currency in which the Securities of such series are payable (except as otherwise specified pursuant to Section 3.1 for the Securities of such series):
(A) all overdue installments of interest on on, and any Additional Amounts, if any, payable in respect of, all Outstanding Securities of that series,series and any related coupons;
(B) the principal of (and premiumpremium or Make-Whole Amount, if any, on) any Outstanding Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor borne by or provided for in such Securities,;
(C) to the extent that payment of such interest is lawful, interest upon overdue installments of interest and any Additional Amounts, if any, at the rate or rates prescribed therefor borne by or provided for in such Securities, ; and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2) all Events of Default with respect to Securities of that series, other than the non-payment nonpayment of the principal of (or premium or Make-Whole Amount, if any) or interest on Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 3 contracts
Sources: Indenture (National Retail Properties, Inc.), Indenture (Commercial Net Lease Realty Inc), Indenture (Commercial Net Lease Realty Inc)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereofof that series) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may waive all defaults and rescind and annul such declaration and its consequences if
(1) the Company has paid or deposited with the Trustee a sum sufficient to pay
(A) all overdue interest on all Securities of that series,
(B) the principal of (and premium, if any, on) and any sinking fund payments with respect to any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(C) to the extent that payment of such interest is lawfulenforceable under applicable law, interest upon overdue interest to the date of such payment or deposit at the rate or rates prescribed therefor in such SecuritiesSecurities or, if no such rate or rates are so prescribed, at the rate borne by the Securities during the period of such default, and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such waiver or rescission and annulment shall affect any subsequent default or impair any right consequent thereon.
Appears in 3 contracts
Sources: Indenture (Ford Motor Co), Indenture (Ford Motor Co), Indenture (Ford Motor Co)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if
(1) the Company has paid or deposited with the Trustee a sum sufficient to pay
(A) all overdue interest on on, and any additional amounts payable as set forth in Section 1004 on, all Securities of that seriesseries and any coupons appertaining thereto,
(B) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(C) to the extent that payment of such interest is lawful, interest upon overdue interest interest, and any additional amounts payable as set forth in Section 1004 on, at the rate or rates prescribed therefor in such Securities, and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and;
(2) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13513. No such rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 3 contracts
Sources: Subordinated Indenture (Dynegy Capital Trust Iii), Indenture (Dynegy Holdings Inc), Indenture (Dynegy Capital Trust Iii)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time then Outstanding occurs shall have occurred and is be continuing, then then, in each and every such case case, the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its the consequences of the Event of Default if: .
(1) the Company has paid or deposited with the Trustee a sum sufficient to pay
pay (A) all overdue interest on all Securities of that series,
, (B) the principal of (and premium, if any, on) any Securities of that all affected series which have become due otherwise than by such declaration of acceleration and any interest thereon on such Securities at the rate or rates prescribed therefor in such Securities,
, (C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and
and (D) all sums paid or advanced by the Trustee hereunder under this Indenture and the reasonable compensation, expenses, disbursements disbursements, and advances of the Trustee, its agents agents, and counsel; and
(2) all Events of Default with respect to Securities of that all affected series, other than the non-payment of the principal of Securities of that the affected series which have has become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereonright. For all purposes under this Indenture, if a portion of the principal of any Original Issue Discount Securities shall have been accelerated and declared due and payable pursuant to the provisions of this Indenture, then, from and after the date of such Event of Default, unless such Event of Default has been rescinded and annulled as provided above, the principal amount of such Original Issue Discount Securities shall be deemed, for all purposes under this Indenture, to be such portion of the principal as shall be due and payable as a result of such acceleration, and the payment of such portion of the principal as shall be due and payable as a result of such acceleration, together with interest, if any, on such portion and all other amounts owing under such Original Issue Discount Security, shall constitute payment in full of such Original Issue Discount Securities.
Appears in 3 contracts
Sources: Indenture (Independent Bank Corp), Indenture (Independent Bank Corp), Indenture (Independent Bank Corp)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in aggregate principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereofof that series) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. Notwithstanding the foregoing, if an Event of Default specified in clause (e) or (f) of Section 5.1 occurs, the Securities of any series at the time Outstanding shall be due and payable immediately without further action or notice. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article Five provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if:
(1a) the Company or, if applicable, one or more of the Guarantors has paid or deposited with the Trustee a sum sufficient to pay:
(Ai) all overdue interest on all Securities of that series,;
(Bii) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,;
(Ciii) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, ; and
(Div) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2b) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 3 contracts
Sources: Indenture (Rowan Companies Inc), Indenture (Tetra Technologies Inc), Indenture (Tetra Technologies Inc)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% a specified percentage in aggregate principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereofof that series) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. Notwithstanding the foregoing, if an Event of Default specified in clause (e) or (f) of Section 5.1 occurs, the Securities of any series at the time Outstanding shall be due and payable immediately without further action or notice. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article Five provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if:
(1a) the Company or, if applicable, one or more of the Guarantors has paid or deposited with the Trustee a sum sufficient to pay:
(Ai) all overdue interest on all Securities of that series,
(Bii) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(Ciii) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and
(Div) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2b) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 3 contracts
Sources: Indenture (DEP Operating Partnership, L.P.), Indenture (Constellation Energy Partners LLC), Indenture (Constellation Energy Partners LLC)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding (other than of a type specified in Section 6.01(5) or (6)) occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereofof that series) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company Issuer or a Guarantor (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable, anything in this Indenture or in any of the Securities of such series to the contrary notwithstanding. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company Issuer or a Guarantor and the Trustee, may rescind and annul such declaration and its consequences if
(1) the Company Issuer or any Guarantor has paid or deposited with the Trustee a sum sufficient to pay
(A) all overdue interest on all Securities of that series,
(B) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counselcounsel and any other amounts due to the Trustee under Section 7.07 hereof; and
(2) all Events of Default with respect to Securities of that series, other than the non-payment nonpayment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.136.13. No such rescission shall affect any subsequent default or impair any right consequent thereon. Notwithstanding the foregoing, in the case of an Event of Default arising under Section 6.01(5) or (6), all outstanding Securities shall IPSO FACTO become due and payable without further action or notice.
Appears in 3 contracts
Sources: Indenture (Willis Netherlands Holdings B.V.), Indenture (Willis North America Inc), Indenture (Willis Group Holdings LTD)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect due to the default in payment of principal of, or interest on, any series of Securities or due to the default in the performance or breach of any other covenant or warranty of the Company applicable to the Securities of any such series at the time but not applicable to all Outstanding occurs Securities shall have occurred and is be continuing, then in every such case either the Trustee or the Holders of not less than 2533% in principal amount of the Outstanding Securities of that such series may then declare the principal amount (or, if any of the Securities of that such series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereofthereof as contemplated by Section 301) of all of the Securities of that such series and interest accrued thereon to be due and payable immediately. If an Event of Default due to default in the performance of any other of the covenants or agreements herein applicable to all Outstanding Securities or an Event of Default specified in Section 801(d) or (e) shall have occurred and be continuing, by a notice in writing to the Company (and to either the Trustee if given by Holdersor the Holders of not less than 33% in principal amount of all Securities then Outstanding (considered as one class), and upon not the Holders of the Securities of any one of such series, may declare the principal of all Securities and interest accrued thereon to be due and payable immediately. As a consequence of each such declaration such (herein referred to as a declaration of acceleration) with respect to Securities of any series, the principal amount (or specified amountportion thereof in the case of Discount Securities) of such Securities and interest accrued thereon shall become immediately due and payablepayable immediately. At any time after such a declaration of acceleration with respect to Securities of any series has shall have been made and before a judgment or decree for payment of the money due has shall have been obtained by the Trustee as hereinafter in this Article provided, the Holders Event or Events of a majority in principal amount Default giving rise to such declaration of the Outstanding Securities of that seriesacceleration shall, by written notice without further act, be deemed to the Company have been waived, and the Trustee, may rescind and annul such declaration and its consequences if
(1) the Company has paid or deposited with the Trustee a sum sufficient shall, without further act, be deemed to pay
(A) all overdue interest on all Securities of that series,
(B) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon.rescinded and annulled, if
Appears in 3 contracts
Sources: Indenture (Txu Corp /Tx/), Indenture (Txu Capital Iv), Indenture (Txu Energy Co LLC)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereofof that series) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable, anything in this Indenture or in any of the Securities of such series to the contrary notwithstanding; provided, however, that payment of principal of (and premium, if any) and interest on the Securities of such series shall remain subordinated to the extent provided in Article Four. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if
(1) the Company has paid or deposited with the Trustee a sum sufficient to pay
(A) all overdue interest on all Securities of that series,
(B) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and;
(2) all Events of Default with respect to Securities of that series, other than the non-payment nonpayment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.136.13. No such rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 3 contracts
Sources: Indenture (Centennial Puerto Rico Operations Corp), Subordinated Indenture (Century Communications Corp), Indenture (Centennial Puerto Rico Operations Corp)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Debt Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Debt Securities of that such series may declare the principal amount (or, if any of the Debt Securities of that such series are Original Issue Discount Securities, such portion of the principal amount of such Discount Securities as may be specified in the terms thereofof such Discount Securities) of all of the Debt Securities of that such series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) plus accrued and unpaid interest (and premium, if payable) shall become immediately due and payable. Upon payment of such amount in the Currency in which such Debt Securities are denominated (except as otherwise provided pursuant to Sections 3.01 or 3.10), all obligations of the Company in respect of the payment of principal of the Debt Securities of such series shall terminate. At any time after such a declaration of acceleration with respect to Debt Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Debt Securities of that such series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if
(1) the Company has paid or deposited with the Trustee a sum in the Currency in which such Debt Securities are denominated (except as otherwise provided pursuant to Section 3.01 or 3.10) sufficient to pay
(A) all overdue installments of interest on all Debt Securities of that such series,
(B) the principal of (and premium, if any, on) any Debt Securities of that such series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Debt Securities,
(C) to the extent that payment of such interest is lawful, interest upon overdue installments of interest on each Debt Security of such series at the rate or rates prescribed therefor in such SecuritiesOverdue Rate, and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; provided, however, that all sums payable under this clause (D) shall be paid in Dollars; and
(2) all All Events of Default with respect to Debt Securities of that such series, other than the non-payment nonpayment of the principal of Debt Securities of that such series which have has become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission and waiver shall affect any subsequent default or impair any right consequent thereon.
Appears in 3 contracts
Sources: Indenture (Genesee & Wyoming Inc), Subordinated Debt Indenture (Scotts Miracle-Gro Co), Subordinated Debt Indenture (Bedford Property Investors Inc/Md)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default (other than an Event of Default resulting from bankruptcy, insolvency or reorganization) with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereofof that series) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. In the case of an Event of Default resulting from bankruptcy, insolvency or reorganization, which occurs and is continuing with respect to Securities of any series at the time Outstanding, then all unpaid principal of and accrued interest on all such Outstanding Securities of that series shall become immediately due and payable without any notice or other action on the part of the Trustee or the Holders of any Securities of such series. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if
(1) the Company has paid or deposited with the Trustee a sum sufficient to pay
(A) all overdue interest on all Securities of that series,
(B) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and
(D) all sums paid or advanced by the Trustee and any predecessor Trustee hereunder and all sums due the reasonable compensation, expenses, disbursements Trustee and advances of the Trustee, its agents and counselany predecessor Trustee under Section 6.07; and
(2) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 3 contracts
Sources: Indenture (Xl Group PLC), Indenture (Security Capital Assurance LTD), Indenture (Xl Capital LTD)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount of (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) of ), and accrued but unpaid interest, if any, on all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company Partnership (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company Partnership and the Trustee, may rescind and annul such declaration and its consequences if
(1) the Company Partnership has paid or deposited with the Trustee a sum sufficient to pay
(Aa) all overdue interest on all Securities of that series,
(Bb) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(Cc) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and
(Dd) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default Default or impair any right consequent thereon.
Appears in 3 contracts
Sources: Subordinated Indenture (Buckeye Partners, L.P.), Indenture (Buckeye Partners L P), Indenture (Buckeye Partners L P)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default (other than an Event of Default specified in clauses (9), (10) or (11) of Section 501 with respect to the Company) occurs and is continuing with respect to Securities of any series at the time Outstanding occurs and is continuingseries, then in every such case either the Trustee or the Holders of not less than 25% in aggregate principal amount of the Outstanding Securities of that such series may declare the principal amount (or, if any of all the Securities of that series are Original Issue Discount Securitiessuch series, or such portion of the principal lesser amount of such Securities as may be specified provided for in the terms thereof) of all of the Securities of that series such series, and accrued and unpaid interest, if any, thereon to be due and payable immediately, by a notice in writing to the Company and the Guarantors of the Securities of such series (and to the Trustee if given by the Holders), and upon any such declaration such principal amount (or specified such lesser amount) , as the case may be, and such accrued and unpaid interest shall become immediately due and payable. If an Event of Default specified in clause (9), (10) or (11) of Section 501 with respect to the Company occurs with respect to the Securities of any series, then the principal of all of the Securities of such series, or such lesser amount as may be provided for in the Securities of such series, and accrued an unpaid interest, if any, thereon shall ipso facto become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder of the Securities of such series. For purposes of clarity, the parties hereto agree that references in this Indenture to an Event of Default specified in clauses (9), (10) or (11) of Section 501 with respect to the Company shall not include any Event of Default specified in clauses (9), (10) or (11) of Section 501 with respect to any Significant Subsidiary of the Company. At any time after such a declaration of acceleration with respect to Securities of any series has have been made accelerated (whether by declaration of the Trustee or the Holders or automatically) and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities of that such series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if
(1) the Company has paid or deposited with the Trustee a sum sufficient to pay
(A) all overdue interest on all Securities of that series,
(B) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 3 contracts
Sources: Indenture (KKR Financial Holdings IV, LLC), Indenture (KKR Financial Holdings IV, LLC), Indenture (KKR Financial Holdings IV, LLC)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default (other than an Event of Default specified in Section 5.1.7) occurs and is continuing with respect to Securities of any series at the time Outstanding occurs and is continuingof Securities, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the all unpaid principal amount (orof and accrued interest on, if and any of the Securities of that series are Original Issue Discount SecuritiesAdditional Amounts due with respect to, such portion of the principal amount of such Securities as may be specified in the terms thereof) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee Trustee, if the notice is given by the Holders), stating that such notice is an “acceleration notice,” and upon any such declaration such principal amount (or specified amount) amounts shall become due and payable immediately. If an Event of Default specified in Section 5.1.7 occurs and is continuing, then the principal of and accrued interest on, and any Additional Amounts due with respect to, all the Securities shall become and be immediately due and payablepayable without any declaration or other act on the part of the Trustee or any Holder. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter provided in this Article provided5, the Holders of a majority in principal amount of the Outstanding Securities of that series, series by written notice to the Company and the Trustee, Trustee may rescind and or annul such declaration and its consequences if:
(1) 5.2.1 the Company has paid or deposited with the Trustee a sum sufficient to pay
pay (Ai) all overdue interest on all Securities of that series,
, (Bii) the all unpaid principal of (and premium, if any, on) any Securities of that series which have that has become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
acceleration, (Ciii) to the extent that payment of such interest on the Securities of that series is lawful, interest upon on such overdue interest at interest, as provided herein (iv) any Additional Amounts due with respect to the rate or rates prescribed therefor in such Securities, and
Securities of that series and (Dv) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2) 5.2.2 all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.135.13 other than the nonpayment of principal that has become due solely because of acceleration. No such rescission shall affect any subsequent default Default or Event of Default or impair any right consequent thereonthereto.
Appears in 3 contracts
Sources: Indenture (Embraer Netherlands Finance B.V.), Indenture (Embraer S.A.), Indenture (Embraer S.A.)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding outstanding occurs and is continuing, then and in each and every such case case, unless the principal of all of the Securities of such series shall have already become due and payable, the Trustee or the Holders of not less than 25% in aggregate principal amount of the Outstanding Securities of that such series may declare the principal amount (or, if any of the Securities of that such series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereofof such series) of all of the Securities of that such series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) of acceleration the same shall become immediately due and payable, anything in this Indenture or in the Securities of such series or any resolution of the Board of Directors relating thereto contained to the contrary notwithstanding. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee or entered as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that such series, by written notice to the Company and the Trustee, may waive all defaults with respect to such Securities and rescind and annul such declaration and its consequences if
(1a) the Company has paid or deposited with the Trustee a sum sufficient to pay
(Ai) all overdue interest installments of interest, if any, on all Securities of that such series,;
(Bii) the principal of (and premium, if any, on) any and all Securities of that such series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in Overdue Rate applicable to the Securities of such Securities,series;
(Ciii) to the extent that payment of such interest is lawful, interest upon any overdue installment of interest at the rate or rates prescribed therefor in Overdue Rate applicable to the Securities of such Securities, andseries;
(Div) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counselcounsel and other amounts owing the Trustee under Section 8.07; and
(2b) all Events of Default with respect to Securities of that such series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.137.13 or 12.09 hereof. No such waiver and rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 3 contracts
Sources: Junior Subordinated Debt Indenture (Citizens Funding Trust IV), Indenture (Citizens Funding Trust IV), Subordinated Debt Indenture (Citizens Funding Trust IV)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereofof that series) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if
(1a) the Company has paid or deposited with the Trustee a sum sufficient to pay
(Ai) all overdue interest on all Securities of that series,
(Bii) the principal of (and premium, if any, on) and any sinking fund payments with respect to any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(Ciii) to the extent that payment of such interest is lawfulenforceable under applicable law, interest upon overdue interest to the date of such payment or deposit at the rate or rates prescribed therefor in such SecuritiesSecurities or, if no such rate or rates are so prescribed, at the rate borne by the Securities during the period of such default, and
(Div) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; counsel; and
(2b) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such waiver or rescission and annulment shall affect any subsequent default or impair any right consequent thereon.
Appears in 3 contracts
Sources: Indenture (Carnival PLC), Indenture (Carnival PLC), Indenture (Carnival PLC)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities Notes of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% a majority in principal amount of the Outstanding Securities Notes of that series may declare the principal amount of all the Notes of that series (or, if any of the Securities Notes of that series are Original Issue Discount SecuritiesNotes, such portion of the principal amount of such Securities Notes as may be specified in by the terms thereof) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable; provided, however, that if an Event of Default shall have occurred and be continuing with respect to more than one series of Notes, the Trustee or the Holders of not less than a majority in principal amount of the Outstanding Notes of all such series, considered as one class (and not the Holders of the Notes of any one of such series), may make such declaration of acceleration. At any time after such a declaration of acceleration with respect to Securities Notes of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders related Event of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration Default and its consequences will be automatically waived, resulting in an automatic rescission and annulment of the acceleration of the Notes if
(1) the Company has paid or deposited with the Trustee a sum sufficient to pay
(A) all overdue interest on all Securities Notes of that series,
(B) the principal of (and premium, if any, on) any Securities Notes of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such SecuritiesNotes,
(C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such SecuritiesNotes, and
(D) all sums paid or advanced by amounts due to the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counselunder Section 6.07; and
(2) all Events any other Event of Default with respect to Securities Notes of that series, other than the non-payment of the principal of Securities Notes of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default Event of Default or impair any right consequent thereon.
Appears in 2 contracts
Sources: Indenture (PNM Resources Inc), Indenture (Public Service Co of New Mexico)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default (other than an Event of Default specified in Section 501(4) or another Event of Default under Section 501(7) which is common to all Outstanding series of Securities) with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount of all the Securities of that series (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in by the terms thereof) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. If an Event of Default specified in Section 501(4) or another Event of Default under Section 501(7) which is common to all Outstanding series of Securities occurs and is continuing, then in every such case, the Trustee or the Holders of not less than 25% in aggregate principal amount of all the Securities then Outstanding hereunder (treated as one class), by a notice in writing to the Company (and to the Trustee if given by Holders) may declare the principal amount (or, if any Securities are Original Issue Discount Securities, such portion of the principal amount as may be specified in the terms thereof) of all the Securities then Outstanding to be due and payable immediately, and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if
(1) the Company has paid or deposited with the Trustee a sum sufficient to pay
(A) all overdue interest on all Securities of that series,
(B) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 2 contracts
Sources: Indenture (Burlington Northern Santa Fe Corp), Indenture (Burlington Northern Santa Fe Corp)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then and in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereofof that series) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), provided, however, that, in the case of the Securities of a series issued to a U.S.B.H. Capital Trust, if, upon an Event of Default, the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series fail to declare the principal of all the Securities of that series to be immediately due and upon payable, the holders of at least 25% in aggregate Liquidation Amount of the corresponding series of Capital Securities then outstanding shall have such right by a notice in writing to the Company and the Trustee. The Holders of a majority in aggregate principal amount of the Outstanding Securities of these Securities may annul such declaration and waive the default if the default (other than the nonpayment of the principal of these Securities which has become due solely by such acceleration) has been cured and a sum sufficient to pay all matured installments of interest and principal due otherwise than by acceleration has been deposited with the Trustee. Should the Holders of these Securities fail to annul such declaration and waive such default, the holders of a majority in aggregate Liquidation Amount of the Capital Securities shall have such right. Upon any such declaration such principal amount (or specified amount) of and the accrued interest (including any Additional Interest) on all the Securities of such series shall become immediately due and payable, provided, however, that the payment of principal and interest (including any Additional Interest) on such Securities shall remain subordinated to the extent provided in Article XIII. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if:
(1) the Company has paid or deposited with the Trustee a sum sufficient to pay:
(A) all overdue installments of interest (including any Additional Interest) on all Securities of that series,
(B) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(C) to borne by the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and
(DC) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and.
(2) all Events of Default with respect to Securities of that series, other than the non-payment nonpayment of the principal of Securities of that series which have has become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. The Holders of a majority in aggregate outstanding principal amount of the Securities of a series affected thereby may, on behalf of the Holders of all the Securities of such series, waive any past default, except a default in the payment of principal of (or premium, if any) or interest (unless such default has been cured and a sum sufficient to pay all matured installments of interest and principal due otherwise than by acceleration has been deposited with the Trustee) or a default in respect of a covenant or provision which under this Indenture cannot be modified or amended without the consent of the Holder of each outstanding Security of such series and, in the case of Securities of a series issued to a U.S.B.H. Capital Trust, should the holders of such Securities fail to annul such declaration and waive such default, the holders of a majority in aggregate Liquidation Amount of the related series of Capital Securities shall have such right. The Company is required to file annually with the Trustee a certificate as to whether or not the Company is in compliance with all the conditions and covenants applicable to it under this Indenture. No such rescission recession shall affect any subsequent default or impair any right consequent thereon. Upon receipt by the Trustee of written notice declaring such an acceleration, or rescission and annulment thereof, with respect to Securities of a series all or part of which is represented by a Global Security, a record date shall be established for determining Holders of Outstanding Securities of such series entitled to join in such notice, which record date shall be at the close of business on the day the Trustee receives such notice. The Holders on such record date, or their duly designated proxies, and only such Persons, shall be entitled to join in such notice, whether or not such Holders remain Holders after such record date; provided, however, that, unless such declaration of acceleration, or rescission and annulment, as the case may be, shall have become effective by virtue of the requisite percentage having joined in such notice prior to the day which is 90 days after such record date, such notice of declaration of acceleration, or rescission and annulment, as the case may be, shall automatically and without further action by any Holder be canceled and of no further effect. Nothing in this paragraph shall prevent a Holder, or a proxy of a Holder, from giving, after expiration of such 90-day period, a new written notice of declaration of acceleration, or rescission and annulment thereof, as the case may be, that is identical to a written notice which has been canceled pursuant to the proviso to the preceding sentence, in which event a new record date shall be established pursuant to the provisions of this Section 5.02.
Appears in 2 contracts
Sources: Junior Subordinated Indenture (Usb Holding Co Inc), Junior Subordinated Indenture (Usb Holding Co Inc)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount of (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if
if (1) the Company has paid or deposited with the Trustee a sum sufficient to pay
pay (A) all overdue interest on all Securities of that series,
, (B) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
, (C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and
and (D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
and (2) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13513. No such rescission shall affect any subsequent default Default or impair any right consequent thereon.
Appears in 2 contracts
Sources: Indenture (Enterprise Financial Services Corp), Indenture (Park National Corp /Oh/)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then and in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereofof that series) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, series by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if:
(1a) the Company has paid or deposited with the Trustee a sum sufficient to pay:
(Ai) all overdue installments of interest on all Securities of that series,;
(Bii) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such borne by the Securities,;
(Ciii) to the extent that payment of such interest is lawful, interest upon overdue installments of interest at the rate or rates prescribed therefor in such borne by the Securities, and;
(Div) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2b) all Events of Default with respect to Securities of that series, other than the non-payment nonpayment of the principal of Securities of that series which have has become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon. Upon receipt by the Trustee of written notice declaring such an acceleration, or rescission and annulment thereof, with respect to Securities of a series all or part of which is represented by a Global Security, a record date shall be established for determining Holders of Outstanding Securities of such series entitled to join in such notice, which record date shall be at the close of business on the day the Trustee receives such notice. The Holders on such record date, or their duly designated proxies, and only such Persons, shall be entitled to join in such notice, whether or not such Holders remain Holders after such record date; provided that, unless such declaration of acceleration, or rescission and annulment, as the case may be, shall have become effective by virtue of the requisite percentage having joined in such notice prior to the day which is 60 days after such record date, such notice of declaration of acceleration, or rescission and annulment, as the case may be, shall automatically and without further action by any Holder be canceled and of no further effect. Nothing in this paragraph shall prevent a Holder, or a proxy of a Holder, from giving, after expiration of such 60-day period, a new written notice of declaration of acceleration, or rescission and annulment thereof, as the case may be, that is identical to a written notice which has been canceled pursuant to the proviso to the preceding sentence, in which event a new record date shall be established pursuant to the provisions of this Section 5.02.
Appears in 2 contracts
Sources: Indenture (Western Wireless Corp), Indenture (Western Wireless Corp)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Outstanding Securities of any series at the time Outstanding occurs and is continuing, then and in every such case the Trustee or the Holders of not less than 25% in aggregate principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such lesser portion of the principal amount of such Securities as may be specified in the terms thereof) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amountportion thereof) shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Outstanding Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in aggregate principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if:
(1) the Company has paid or deposited with the Trustee a sum sufficient to pay:
(A) all overdue interest on all Securities of that series,;
(B) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,;
(C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, ; and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 6.07; and
(2) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon. Upon receipt by the Trustee of any written notice declaring such an acceleration, or rescission and annulment thereof, with respect to Securities of a series all or part of which is represented by a Global Security, a record date shall be established for determining Holders of Outstanding Securities of such series entitled to join in such notice, which record date shall be at the close of business on the day the Trustee receives such notice. The Holders on such record date, or their duly designated proxies, and only such Persons, shall be entitled to join in such notice, whether or not such Holders remain Holders after such record date; provided that, unless such declaration of acceleration, or rescission and annulment, as the case may be, shall have become effective by virtue of the requisite percentage having joined in such notice prior to the day which is 90 days after such record date, such notice of declaration of acceleration, or rescission and annulment, as the case may be, shall automatically and without further action by any Holder be cancelled and of no further effect. Nothing in this paragraph shall prevent a Holder, or a proxy of a Holder, from giving, after expiration of such 90-day period, a new written notice of declaration of acceleration, or rescission or annulment thereof, as the case may be, that is identical to a written notice which has been cancelled pursuant to the proviso to the preceding sentence, in which event a new record date shall be established pursuant to the provisions of this Section 5.02.
Appears in 2 contracts
Sources: Indenture (Chittenden Corp /Vt/), Indenture Agreement (Chittenden Corp /Vt/)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding (other than of a type specified in Section 6.01(5) or (6)) occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereofof that series) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company Issuer (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable, anything in this Indenture or in any of the Securities of such series to the contrary notwithstanding; provided, however, that payment of principal of (and premium, if any) and interest on the Securities of such series shall remain subordinated to the extent provided in Article Four. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company Issuer and the Trustee, may rescind and annul such declaration and its consequences if
(1) the Company Issuer has paid or deposited with the Trustee a sum sufficient to pay
(Ai) all overdue interest on all Securities of that series,
(Bii) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and
(Diii) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and;
(2) all Events of Default with respect to Securities of that series, other than the non-payment nonpayment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.136.13. No such rescission shall affect any subsequent default or impair any right consequent thereon. Notwithstanding the foregoing, in the case of an Event of Default arising under Section 6.01(5) or (6), all outstanding Securities shall IPSO FACTO become due and payable without further action or notice.
Appears in 2 contracts
Sources: Indenture (Renaissance Centro Arlington, LLC), Indenture (Renaissance Centro Arlington, LLC)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment adjudgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if:
(1) the Company has paid or deposited with the Trustee a sum sufficient to pay,
(A) all overdue interest on all Securities of that series,
(B) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and;
(2) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 2 contracts
Sources: Indenture (International Paper Co /New/), Indenture (International Paper Capital Trust Iii)
Acceleration of Maturity; Rescission and Annulment. If an -------------------------------------------------- Event of Default (other than an Event of Default set forth in Section 501(7), (8), (9) or (10)) with respect to Securities of any series at the time Outstanding occurs and is continuing, then and in every such case case, unless the principal of all of the Outstanding Securities of such series already has become due and payable, the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that such series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities or Indexed Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) of of, and the Make-Whole Amount, if any, on, all of the Securities of that such series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by the Holders), and upon any such declaration such principal amount (or specified amount) portion thereof shall become immediately due and payable. If an Event of Default set forth in Section 501(7), (8), (9) or (10) occurs and is continuing with respect to the Securities of any series, then in each such case, the principal of or, if any Securities are Original Issue Discount Securities or Indexed Securities, such portion of the principal as may be specified in the terms thereof, and the Make-Whole Amount, if any, on, all the Securities of such series shall be due and payable immediately, without notice to the Company. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter provided in this Article providedArticle, the Holders of a majority in principal amount of the Outstanding Securities of that such series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if:
(1) the The Company has paid or deposited with the Trustee a sum sufficient to pay, in the currency, currency unit or composite currency in which the Securities of such series are payable (except as otherwise specified pursuant to Section 301 for the Securities of such series):
(A) all overdue installments of interest on and any Additional Amounts payable in respect of all Outstanding Securities of that series,such series and any coupons appertaining thereto;
(B) the principal of (and premiumpremium or Make-Whole Amount, if any, on) any Outstanding Securities of that such series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor borne by or provided for in such Securities,;
(C) to the extent that payment of such interest is lawful, interest upon on overdue installments of interest and any Additional Amounts at the rate or rates prescribed therefor borne by or provided for in such Securities, ; and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2) all Events of Default with respect to Securities of that such series, other than the non-payment nonpayment of the principal of (or premium or Make-Whole Amount, if any, on) or interest or Additional Amounts, if any, on Securities of that such series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13513. No such rescission shall affect any subsequent default or impair any right consequent thereonresulting therefrom.
Appears in 2 contracts
Sources: Indenture (Security Capital U S Realty), Indenture (Security Capital U S Realty)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities other than an Event of any series at the time Outstanding Default under Section 5.01(vii) occurs and is continuing, then and in every such case either the Trustee or the Holders of holding not less than 25% in principal amount a majority of the Outstanding Securities Amount of that series may declare the principal amount (or, if any Transition Bonds of the Securities Series with respect to which an Event of that series are Original Issue Discount SecuritiesDefault has occurred, such portion of voting as a class, may, but need not, declare all the principal amount Transition Bonds of such Securities as may be specified in the terms thereof) of all of the Securities of that series Series to be immediately due and payable immediatelypayable, by a notice in writing to the Company Issuer (and to the Trustee if given by HoldersTransition Bondholders), and upon any such declaration such the unpaid principal amount (or specified amount) of the Transition Bonds of such Series, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article V provided, the Holders of holding not less than a majority in principal amount of the Outstanding Securities Amount of that seriesTransition Bonds of such Series, by written notice to the Company Issuer and the Trustee, may rescind and annul such declaration and its consequences if:
(1i) the Company Issuer has paid or deposited with the Trustee Trustee, for deposit in the General Subaccount of the Collection Account of such Series, a sum sufficient to pay
(A) all overdue interest on all Securities payments of that series,
(B) the principal Principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(C) to the extent that payment Interest on all Transition Bonds of such interest is lawful, interest Series due and owing at such time as if such Event of Default had not occurred and was not continuing and all other amounts that would then be due hereunder or upon overdue interest at such Transition Bonds as if the rate or rates prescribed therefor in Event of Default giving rise to such Securities, acceleration had not occurred and was not continuing; and
(DB) all sums paid or advanced by the Trustee hereunder with respect to such Series and the reasonable compensation, expenses, disbursements and advances of the Trustee, Trustee and its agents and counselcounsel with respect to such Series; and
(2ii) all Events of Default with respect to Securities of that series, other than the non-payment nonpayment of the principal Principal of Securities the Transition Bonds of the Series that series which have has become due solely by such declaration of acceleration, acceleration have been cured or waived as provided in Section 5.135.12. No such rescission shall affect any subsequent default Default or impair any right consequent thereonthereto.
Appears in 2 contracts
Sources: Indenture (CenterPoint Energy Transition Bond CO II, LLC), Indenture (CenterPoint Energy Transition Bond CO II, LLC)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in aggregate principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereofof that series) and all accrued and unpaid interest of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. Notwithstanding the foregoing, if an Event of Default specified in clause (e) or (f) of Section 5.1 occurs, the Securities of any series at the time Outstanding shall be due and payable immediately without further action or notice. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article Five provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if:
(1a) the Company or, if applicable, one or more of the Guarantors has paid or deposited with the Trustee a sum sufficient to pay:
(Ai) all overdue interest on all Securities of that series,;
(Bii) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,;
(Ciii) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, ; and
(Div) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2b) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 2 contracts
Sources: Indenture (TODCO Mexico Inc.), Indenture (TODCO Mexico Inc.)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default described in Section 5.01 (other than in clause (e) with respect to the Company) or established pursuant to Section 3.01 with respect to Securities of any series at the time Outstanding occurs and is continuing, then and in each and every such case case, unless the principal of all the Securities of such series shall have already become due and payable, either the Trustee or the Holders of not less than 25% 25 percent in aggregate principal amount of the Outstanding Securities of that such series then Outstanding hereunder, by notice in writing to the Company (and to the Trustee if given by Holders), may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount as may be specified in the terms of that series) of all the Securities of such series plus accrued and unpaid interest to be due and payable immediately, and upon any such declaration the same shall become and shall be immediately due and payable, anything in this Indenture or in the Securities of such series contained to the contrary notwithstanding, provided, however, that payment of principal of (and premium, if any) and interest on the Securities of such series shall remain subordinated to the extent provided in Article Fourteen. If an Event of Default described in clause (e) in respect of the Company occurs and is continuing, then and in each and every such case, unless the principal of all the Securities shall have already become due and payable, the principal amount of all the Securities of each series then Outstanding hereunder (or, if any Securities are Original Issue Discount Securities, such portion of the principal amount as may be specified in the terms thereof) of all of the Securities of that series to be due plus any accrued and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) unpaid interest shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for , provided, however, that payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if
(1) the Company has paid or deposited with the Trustee a sum sufficient to pay
(A) all overdue interest on all Securities of that series,
(B) the principal of (and premium, if any) and interest on the Securities of such series shall remain subordinated to the extent provided in Article Fourteen. The foregoing provisions are, on) however, subject to the condition that if, at any time after the principal amount (or, if the Securities of that series which are Original Issue Discount Securities, such portion of the principal amounts as may be specified in the terms of that series) of the Securities of any series (or of all the Securities, as the case may be) shall have been declared or become due and payable, and before any judgment or decree for the payment of the moneys due shall have been obtained or entered as hereinafter provided, the Company shall pay or shall deposit with the Trustee a sum sufficient to pay all matured installments of interest upon all the Securities of such series (or of all the Securities, as the case may be) and the principal of and premium, if any, on any and all Securities of such series (or of all the Securities, as the case may be) that shall have become due otherwise than by such declaration acceleration (with interest on overdue installments of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(C) interest, to the extent that payment of such interest is lawfulenforceable under applicable law, interest upon overdue interest and on such principal and premium, if any, at the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) borne by the Securities of such series (or at the rates prescribed therefor in such of interest or Yields to Maturity of all the Securities, and
(Das the case may be), to the date of such payment or deposit) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances expenses of the Trustee, its agents and counsel; and
(2) any and all Events of Default with respect to Securities of that seriesdefaults under this Indenture, other than the non-payment nonpayment of the principal of or premium, if any, or accrued interest on Securities of that such series (or of all the Securities, as the case may be) which shall have become due solely by such declaration of acceleration, shall have been cured or waived pursuant to Section 5.08, then and in every such case the Holders of a majority in aggregate principal amount of the Securities of such series (or of all the Securities, as provided in Section 5.13. No the case may be) then Outstanding, by written notice to the Company and to the Trustee, may waive all defaults with respect to that series (or with respect to all Securities, as the case may be) and rescind and annul such declaration and its consequences; but no such waiver or rescission and annulment shall extend to or shall affect any subsequent default default, or shall impair any right consequent thereon. In case the Trustee or any Holder shall have proceeded to enforce any right under this Indenture and such proceedings shall have been discontinued or abandoned because of such rescission or annulment or for any other reason or shall have been determined adversely to the Trustee or to such Holder, then and in every such case the Company and the Trustee and the Holders shall be restored respectively to their several positions and rights hereunder, and all rights, remedies and powers of the Company and the Trustee and the Holders shall continue as though no such proceeding had been taken.
Appears in 2 contracts
Sources: Subordinated Indenture (Cottonwood Land Co), Subordinated Indenture (Peabody Energy Corp)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then and in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) of all of the Outstanding Securities of that series and any other amounts payable hereunder (including any Additional Payments) to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders); PROVIDED that, if the Property Trustee is the sole Holder of the Securities and if upon an Event of Default, the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities fail to declare the principal of all the Securities to be immediately due and payable, the holders of at least 25% in aggregate liquidation amount of Preferred Securities then outstanding shall have such right by a notice in writing to the Company and the Trustee; and upon any such declaration such principal and all accrued interest shall become immediately due and payable. Upon any such declaration such principal amount (or specified amount) of and the accrued interest (including any Additional Payments) on all the Securities of such series shall then become immediately due and payable; PROVIDED that the payment of principal and interest on such Securities (including Additional Payments) shall remain subordinated to the extent provided in Article XII. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter provided in this Article providedhereinafter, the Holders of a majority in aggregate principal amount of the Outstanding Securities of that seriesSecurities, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if
(1) the Company has paid or deposited with the Trustee a sum sufficient to pay
(A) all overdue interest (including any Compounded Interest) on all Securities of that seriesSecurities,
(B) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(C) to borne by the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and
(DC) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and;
(2) all Events of Default with respect to Securities of that seriesDefault, other than the non-non- payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. The Company is required to file annually with the Trustee a certificate as to whether or not the Company is in compliance with all the conditions and covenants applicable to it under this Indenture. No such rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 2 contracts
Sources: Indenture (Chemed Capital Trust), Indenture (Chemed Corp)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series Series at the time Outstanding outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding outstanding Securities of that series Series may declare the principal amount (or, if any of the Securities of that series Series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereofof such Securities) of all of the Securities of that series Series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. If an Event of Default specified in Section 6.1(f) or (g) shall occur, the principal amount (or specified amount) of all outstanding Securities shall ipso facto become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. At any time after such a declaration of acceleration with respect to Securities of any series Series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding outstanding Securities of that seriesSeries, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if:
(1a) the Company has paid or deposited with the Trustee a sum sufficient to pay
(Ai) all overdue interest interest, if any, on all Securities of that seriesSeries,
(Bii) the principal of (and premium, if any, on) any Securities of that series Series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(Ciii) to the extent that payment of such interest is lawful, interest upon any overdue principal and overdue interest at the rate or rates prescribed therefor in such Securities, and
(Div) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2b) all Events of Default with respect to Securities of that seriesSeries, other than the non-payment of the principal of Securities of that series Series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.136.13. No such rescission shall affect any subsequent default Default or impair any right consequent thereon.
Appears in 2 contracts
Sources: Indenture (Nike Inc), Indenture (Nike Inc)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee, if the Trustee has actual knowledge thereof, or the Holders of not less than 25% in aggregate principal amount of the Outstanding Securities of that series may may, but shall not be obligated to, declare the principal amount (orof and interest on including any Compounded Interest or Additional Interest, if any of the Securities of that series are Original Issue Discount Securitiesany, such portion of the principal amount of such Securities as may be specified in the terms thereof) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by the Holders), and upon any such declaration such principal amount and interest (or specified amount) shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of Securities representing a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if:
(1) the Company has paid or deposited with the Trustee a sum sufficient to pay
(A) all overdue interest on all Securities of that series,;
(B) the principal of (and premium, if any, on) any Securities of that series which have has become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,;
(C) all overdue sinking fund payments with respect to Securities of that series and interest thereon at the rate or rates prescribed therefor in such Securities;
(D) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, ; and
(DE) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counselcounsel (including reasonable legal fees and expenses); and
(2) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or Event of Default or impair any right consequent thereon.
Appears in 2 contracts
Sources: Junior Subordinated Debt Securities Indenture (Travelers Property Casualty Corp), Junior Subordinated Debt Securities Indenture (Travelers Property Casualty Corp)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Debt Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Debt Securities of that such series may declare the principal amount (or, if any of the Debt Securities of that such series are Original Issue Discount Securities, such portion of the principal amount of such Discount Securities as may be specified in the terms thereofof such Discount Securities) of all of the Debt Securities of that such series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) plus accrued and unpaid interest (and premium, if payable) shall become immediately due and payable. Upon payment of such amount, all obligations of the Company in respect of the payment of principal of the Debt Securities of such series shall terminate. At any time after such a declaration of acceleration with respect to Debt Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Debt Securities of that such series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if
(1) the Company has paid or deposited with the Trustee a sum sufficient to pay
(A) all overdue installments of interest on all Securities of that seriesDebt Securities,
(B) the principal of (and premium, if any, on) any Debt Securities of that such series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Debt Securities,
(C) to the extent that payment of such interest is lawful, interest upon overdue installments of interest on each Debt Security of such series at the rate or rates prescribed therefor in such SecuritiesOverdue Rate, and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2) all All Events of Default with respect to Debt Securities of that such series, other than the non-payment nonpayment of the principal of Debt Securities of that such series which have has become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission and waiver shall affect any subsequent default or impair any right consequent thereon.
Appears in 2 contracts
Sources: Indenture (Intermedia Communications Inc), Indenture (Intermedia Communications Inc)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereofof that series) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if
(1) the Company has paid or deposited with the Trustee a sum sufficient to pay
(A) all overdue interest on all Securities of that series,
(B) the principal of (and premium, if any, on) and any sinking fund payments with respect to any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(C) to the extent that payment of such interest is lawfulenforceable under applicable law, interest upon overdue interest to the date of such payment or deposit at the rate or rates prescribed therefor in such SecuritiesSecurities or, if no such rate or rates are so prescribed, at the rate borne by the Securities during the period of such default, and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and;
(2) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such waiver or rescission and annulment shall affect any subsequent default or impair any right consequent thereon.
Appears in 2 contracts
Sources: Indenture (Carnival Corp), Indenture (Carnival Corp)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series Series at the time Outstanding outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding outstanding Securities of that series Series may declare the principal amount (or, if any of the Securities of that series Series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereofof such Securities) of all of the Securities of that series Series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. If an Event of Default specified in Section 6.1(f) or (g) shall occur, the principal amount (or specified amount) of all outstanding Securities shall ipso facto become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. At any time after such a declaration of acceleration with respect to Securities of any series Series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding outstanding Securities of that seriesSeries, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if:
(1a) the Company has paid or deposited with the Trustee a sum sufficient to pay
(Ai) all overdue interest on all Securities of that seriesSeries,
(Bii) the principal of (and premium, if any, on) any Securities of that series Series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(Ciii) to the extent that payment of such interest is lawful, interest upon any overdue principal and overdue interest at the rate or rates prescribed therefor in such Securities, and
(Div) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
and (2b) all Events of Default with respect to Securities of that seriesSeries, other than the non-payment of the principal of Securities of that series Series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.136.13. No such rescission shall affect any subsequent default Default or impair any right consequent thereon.
Appears in 2 contracts
Sources: Indenture (Mattel Inc /De/), Indenture (Mattel Inc /De/)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the entire principal amount amount, together with all accrued and unpaid interest and premium, if any (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) ), of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. Notwithstanding the foregoing, if an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing under Section 5.01(6) or Section 5.01(7), then in every such case the entire principal amount, together with all accrued and unpaid interest and premium, if any (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof), of all of the Securities of that series shall be due and payable immediately. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if
(1) the Company has paid or deposited with the Trustee a sum sufficient to pay
(A) all overdue interest on all Securities of that series,
(B) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and;
(2) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 2 contracts
Sources: Indenture (Primus Guaranty LTD), Indenture (Primus Guaranty LTD)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Debt Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Debt Securities of that such series may declare the principal amount (or, if any of the Debt Securities of that such series are Original Issue Discount Securities, such portion of the principal amount of such Discount Securities as may be specified in the terms thereofof such Discount Securities) of all of the Debt Securities of that such series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) plus accrued and unpaid interest (and premium, if payable) shall become immediately due and payable. Upon payment of such amount in the Currency in which such Debt Securities are denominated (except as otherwise provided pursuant to Sections 3.01 or 3.10), all obligations of the Company in respect of the payment of principal of the Debt Securities of such series shall terminate. At any time after such a declaration of acceleration with respect to Debt Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Debt Securities of that such series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if
(1) the Company has paid or deposited with the Trustee a sum in the Currency in which such Debt Securities are denominated (except as otherwise provided pursuant to Section 3.01 or 3.10) sufficient to pay
(A) all overdue installments of interest on all Debt Securities of that such series,
(B) the principal of (and premium, if any, on) any Debt Securities of that such series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Debt Securities,
(C) to the extent that payment of such interest is lawful, interest upon overdue installments of interest on each Debt Security of such series at the rate or rates prescribed therefor in such SecuritiesOverdue Rate, and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; PROVIDED, HOWEVER, that all sums payable under this clause (D) shall be paid in Dollars; and
(2) all All Events of Default with respect to Debt Securities of that such series, other than the non-payment nonpayment of the principal of Debt Securities of that such series which have has become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission and waiver shall affect any subsequent default or impair any right consequent thereon.
Appears in 2 contracts
Sources: Subordinated Debt Indenture (Scotts Company), Indenture (Scotts Company)
Acceleration of Maturity; Rescission and Annulment. If Unless the Board Resolution, supplemental indenture or Officers’ Certificate establishing such series provides otherwise, if an Event of Default (other than an Event of Default specified in Section 5.1(5) or 5.1(6)) with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount of all the Securities of that series (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in by the terms thereof) of all of the Securities of that series and premium, if any, together with accrued and unpaid interest, if any, thereon, and Additional Amounts, if any, with respect thereto, to be due and payable immediately, by a notice in writing to the Company Corporation (and to the Trustee if given by the Holders), and upon any such declaration such principal amount (or specified amount) and premium, if any, together with accrued and unpaid interest, if any, thereon, and Additional Amounts, if any, with respect thereto, shall become immediately due and payable. Unless the Board Resolution, supplemental indenture or Officers’ Certificate establishing such series provides otherwise, if an Event of Default specified in Section 5.1(5) or 5.1(6) with respect to Securities of any series at the time Outstanding occurs, the principal amount of all the Securities of that series (or, if any Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified by the terms thereof) and premium, if any, together with accrued and unpaid interest, if any, thereon, and Additional Amounts, if any, with respect thereto, shall automatically, and without any declaration or other action on the part of the Trustee or any Holder, become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article 5 provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company Corporation and the Trustee, may rescind and annul such declaration and its consequences if:
(1) the Company The Corporation has paid or deposited with the Trustee a sum sufficient to pay:
(A) all All overdue interest on on, and any Additional Amounts with respect to, all Securities of that series (or of all series, as the case may be),
(B) the The principal of or premium (and premium, if any, on) on any Securities of that series (or of all series, as the case may be) which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities (in the case of Original Issue Discount Securities, the Securities’ Yield to Maturity),
(C) to To the extent that payment of such interest is lawful, interest upon overdue interest and any Additional Amounts at the rate or rates prescribed therefor in such Securities (in the case of Original Issue Discount Securities, the Securities’ Yield to Maturity), and
(D) all sums paid or advanced by the Trustee hereunder and hereunder, the reasonable compensation, expenses, disbursements and advances of the Trusteedue to Trustee under Section 6.7, its agents and counsel; andall other amounts due under Section 6.7;
(2) all All Events of Default with respect to Securities of that series (or of all series, as the case may be), other than the non-payment nonpayment of the principal of Securities of that series (or of all series, as the case may be) which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13; and
(3) The rescission would not conflict with any final judgment or decree of a court of competent jurisdiction. No such rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 2 contracts
Sources: Indenture (Amerant Bancorp Inc.), Indenture (FNB Corp/Pa/)
Acceleration of Maturity; Rescission and Annulment. If Unless the Board Resolution, supplemental indenture or Officer’s Certificate establishing such series provides otherwise, if an Event of Default (other than an Event of Default specified in Section 5.1(5) or 5.1(6)) with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount of all the Securities of that series (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in by the terms thereof) of all of the Securities of that series and premium, if any, together with accrued and unpaid interest, if any, thereon, and Additional Amounts, if any, with respect thereto, to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by the Holders), and upon any such declaration such principal amount (or specified amount) and premium, if any, together with accrued and unpaid interest, if any, thereon, and Additional Amounts, if any, with respect thereto, shall become immediately due and payable. Unless the Board Resolution, supplemental indenture or Officer’s Certificate establishing such series provides otherwise, if an Event of Default specified in Section 5.1(5) or 5.1(6) with respect to Securities of any series at the time Outstanding occurs, the principal amount of all the Securities of that series (or, if any Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified by the terms thereof) and premium, if any, together with accrued and unpaid interest, if any, thereon, and Additional Amounts, if any, with respect thereto, shall automatically, and without any declaration or other action on the part of the Trustee or any Holder, become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article 5 provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if
(1i) the Company has paid or deposited with the Trustee a sum sufficient to pay
(A1) all overdue interest on on, and any Additional Amounts with respect to, all Securities of that series (or of all series, as the case may be),
(B2) the principal of or premium (and premium, if any, on) on any Securities of that series (or of all series, as the case may be) which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities (in the case of Original Issue Discount Securities, the Securities’ Yield to Maturity),
(C3) to the extent that payment of such interest is lawful, interest upon overdue interest and any Additional Amounts at the rate or rates prescribed therefor in such Securities (in the case of Original Issue Discount Securities, the Securities’ Yield to Maturity), and
(D4) all sums paid or advanced by the Trustee hereunder and hereunder, the reasonable compensation, expenses, disbursements and advances of the Trusteedue to Trustee under Section 6.7, its agents and counsel; andall other amounts due under Section 6.7;
(2ii) all Events of Default with respect to Securities of that series (or of all series, as the case may be), other than the non-payment nonpayment of the principal of Securities of that series (or of all series, as the case may be) which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13; and
(iii) the rescission would not conflict with any final judgment or decree of a court of competent jurisdiction. No such rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 2 contracts
Sources: Indenture (Axos Financial, Inc.), Indenture (Axos Financial, Inc.)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount of (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if
(1) the Company has paid or deposited with the Trustee a sum sufficient to pay
(A) all overdue interest on all Securities of that series,
(B) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and
(D) all sums paid or advanced by the Trustee hereunder and the compensation and reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default Default or impair any right consequent thereon. When any Default has occurred and is continuing under this Indenture, the Company shall, within five (5) Business Days after becoming aware of such Default, deliver to the Trustee an Officers’ Certificate specifying such Default.
Appears in 2 contracts
Sources: Indenture (Investar Holding Corp), Indenture (Investar Holding Corp)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereofof that series) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if
(1a) the Company has paid or deposited with the Trustee a sum sufficient to pay
(Ai) all overdue interest on all Securities of that series,
(Bii) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(Ciii) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities or, in the case of Original Issue Discount Securities, the Securities, Yield to Maturity, and
(Div) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2b) all Events of Default with respect to Securities of that series, other than the non-payment nonpayment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 2 contracts
Sources: Indenture Provisions (Aristar Inc), Indenture Agreement (Washington Mutual Inc)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuingoccurs, then in every such case the Trustee or the Holders of not less than 25% in principal amount of all the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in by the terms thereof) of all shall automatically, and without any declaration or other action on the part of the Securities of that series to be due and payable immediatelyTrustee or any Holder, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. .
(a) At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if:
(1i) the Company has paid or deposited with the Trustee a sum sufficient to pay:
(A) all overdue interest on all Securities of that series,
(B) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2ii) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 2 contracts
Sources: Subordinated Indenture (Lincoln National Corp), Subordinated Indenture (Lincoln National Corp)
Acceleration of Maturity; Rescission and Annulment. If Unless otherwise provided with respect to Debt Securities of any series pursuant to Section 3.1, if an Event of Default with respect to Debt Securities of any series at the time Outstanding occurs and is continuing, then in every such case case, unless the principal of all Debt Securities shall have already become due and payable, the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Debt Securities of that such series may declare the principal amount (or, if any of the Debt Securities of that such series are Original Issue Discount SecuritiesSecurities or indexed securities, such portion of the principal amount of such Discount Securities as may be specified in the terms thereofof such Discount Securities or indexed securities) of all of the Debt Securities of that such series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) plus accrued and unpaid interest (and premium, if payable) shall become immediately due and payable. Upon payment of such amount, all obligations of the Company in respect of the payment of principal of (and premium, if payable) and interest on the Debt Securities of such series shall terminate. At any time after such a declaration of acceleration with respect to Debt Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article V provided, the Holders of a majority in principal amount of the Outstanding Debt Securities of that such series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if:
(1) the Company has paid or deposited with the Trustee a sum sufficient to pay:
(A) all overdue installments of interest on all Debt Securities of that such series,
(B) the principal of (and premium, if any, on) any Debt Securities of that such series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Debt Securities,
(C) to the extent that payment of such interest is lawful, interest upon overdue installments of interest on each Debt Security of such series at the rate or rates prescribed therefor in such SecuritiesDebt Securities or, if no such rate or rates are so prescribed, at the rate borne by the Debt Securities during the period of such default, and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; provided, however, that all sums payable under this clause (D) shall be paid in Dollars; and
(2) all All Events of Default with respect to Debt Securities of that such series, other than the non-payment nonpayment of the principal of Debt Securities of that such series which have has become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission and waiver shall affect any subsequent default or impair any right consequent thereon.
Appears in 2 contracts
Sources: Indenture (Nicolet Bankshares Inc), Indenture (Heritage Financial Group Inc)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Debt Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Debt Securities of that such series may declare the principal amount (or, if any of the Debt Securities of that such series are Original Issue Discount SecuritiesSecurities or indexed securities, such portion of the principal amount of such Discount Securities as may be specified in the terms thereofof such Discount Securities or indexed securities) of all of the Debt Securities of that such series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) plus accrued and unpaid interest (and premium, if payable) shall become immediately due and payable, provided, however, that payment of such principal and interest, if any, on the Debt Securities of such series shall remain subordinated to the extent provided in Article XVII. Upon payment of such amount in the Currency in which such Debt Securities are denominated (except as otherwise provided pursuant to Sections 3.1 or 3.10), all obligations of the Company in respect of the payment of principal of the Debt Securities of such series shall terminate. At any time after such a declaration of acceleration with respect to Debt Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Debt Securities of that such series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if
(1) the Company has paid or deposited with the Trustee a sum in the Currency in which such Debt Securities are denominated (except as otherwise provided pursuant to Sections 3.1 or 3.10) sufficient to pay
(A) all overdue installments of interest on all Debt Securities of that such series,
(B) the principal of (and premium, if any, on) any Debt Securities of that such series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Debt Securities,
(C) to the extent that payment of such interest is lawful, interest upon overdue installments of interest on each Debt Security of such series at the rate or rates prescribed therefor in such SecuritiesOverdue Rate ("Additional Interest"), and
(D) all Additional Payments; provided, however, that all sums payable under this clause (D) shall be paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counselin Dollars; and
(2) all All Events of Default with respect to Debt Securities of that such series, other than the non-payment nonpayment of the principal of Debt Securities of that such series which have has become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission and waiver shall affect any subsequent default or impair any right consequent thereon.
Appears in 2 contracts
Sources: Junior Subordinated Indenture (Rga Capital Trust Ii), Junior Subordinated Indenture (Reinsurance Group of America Inc)
Acceleration of Maturity; Rescission and Annulment. If Unless otherwise provided with respect to Debt Securities of any series pursuant to Section 3.1, if an Event of Default with respect to Debt Securities of any series at the time Outstanding occurs and is continuing, then in every such case case, unless the principal of all Debt Securities shall have already become due and payable, the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Debt Securities of that such series may declare the principal amount (or, if any of the Debt Securities of that such series are Original Issue Discount SecuritiesSecurities or indexed securities, such portion of the principal amount of such Discount Securities as may be specified in the terms thereofof such Discount Securities or indexed securities) of all of the Debt Securities of that such series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) plus accrued and unpaid interest (and premium, if payable) shall become immediately due and payable. Upon payment of such amount, all obligations of the Company in respect of the payment of principal of (and premium, if payable) and interest on the Debt Securities of such series shall terminate. At any time after such a declaration of acceleration with respect to Debt Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article V provided, the Holders of a majority in principal amount of the Outstanding Debt Securities of that such series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if
(1) the Company has paid or deposited with the Trustee a sum sufficient to paypay in the Currency in which Debt Securities of such series are payable:
(A) all overdue installments of interest on all Debt Securities of that such series,
(B) the principal of (and premium, if any, on) any Debt Securities of that such series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Debt Securities,
(C) to the extent that payment of such interest is lawful, interest upon overdue installments of interest on each Debt Security of such series at the rate or rates prescribed therefor in such SecuritiesDebt Securities or, if no such rate or rates are so prescribed, at the rate borne by the Debt Securities during the period of such default, and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; provided, however, that all sums payable under this clause (D) shall be paid in Dollars; and
(2) all All Events of Default with respect to Debt Securities of that such series, other than the non-payment nonpayment of the principal of Debt Securities of that such series which have has become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission and waiver shall affect any subsequent default or impair any right consequent thereon.
Appears in 2 contracts
Sources: Indenture (Reinsurance Group of America Inc), Indenture (Reinsurance Group of America Inc)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if:
(1) the Company has paid or deposited with the Trustee a sum sufficient to pay,
(A) all overdue interest on all Securities of that series,
(B) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and;
(2) all Events of Default with respect to Securities of that series, other than the non-payment nonpayment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 2 contracts
Sources: Indenture (United States Surgical Corp), Indenture (United States Surgical Corp)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then and in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereofof that series) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if:
(1a) the Company has paid or deposited with the Trustee a sum sufficient to pay:
(Ai) all overdue installments of interest on all Securities of that series,;
(Bii) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such borne by the Securities,;
(Ciii) to the extent that payment of such interest is lawful, interest upon overdue installments of interest at the rate or rates prescribed therefor in such borne by the Securities, and;
(Div) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2b) all Events of Default with respect to Securities of that series, other than the non-payment nonpayment of the principal of Securities of that series which have has become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon. Upon receipt by the Trustee of written notice declaring such an acceleration, or rescission and annulment thereof, with respect to Securities of a series all or part of which is represented by a Global Security, a record date shall be established for determining Holders of Outstanding Securities of such series entitled to join in such notice, which record date shall be at the close of business on the day the Trustee receives such notice. The Holders on such record date, or their duly designated proxies, and only such Persons, shall be entitled to join in such notice, whether or not such Holders remain Holders after such record date; provided that, unless such declaration of acceleration, or rescission and annulment, as the case may be, shall have become effective by virtue of the requisite percentage having joined in such notice prior to the day which is 60 days after such record date, such notice of declaration of acceleration, or rescission and annulment, as the case may be, shall automatically and without further action by any Holder be canceled and of no further effect. Nothing in this paragraph shall prevent a Holder, or a proxy of a Holder, from giving, after expiration of such 60-day period, a new written notice of declaration of acceleration, or rescission and annulment thereof, as the case may be, that is identical to a written notice which has been canceled pursuant to the proviso to the preceding sentence, in which event a new record date shall be established pursuant to the provisions of this Section 5.02.
Appears in 2 contracts
Sources: Junior Subordinated Indenture (Nationwide Financial Services Inc/), Junior Subordinated Indenture (Nationwide Financial Services Inc/)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default (other than an Event of Default described in clause (g) or (h) of Section 5.1) with respect to Securities of any series Notes at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders holders of not less than 25% in principal amount of the Outstanding Securities of that series Notes may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) of all of the Securities of that series Notes to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holdersholders), and upon any such declaration such principal amount (or specified amount) plus accrued and unpaid interest (and premium, if payable) shall become immediately due and payable. Upon payment of such amount all obligations of the Company in respect of the payment of principal of the Notes shall terminate. At any time after such a declaration of acceleration with respect to Securities of any series Notes has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders holders of at least a majority in principal amount of the Outstanding Securities of that seriesNotes, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if:
(1a) the Company has paid or deposited with the Trustee a sum sufficient to pay
(A1) all overdue installments of interest on all Securities of that seriesNotes,
(B2) the principal of (and premium, if any, on) any Securities of that series Notes which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such SecuritiesNotes,
(C3) to the extent that payment of such interest is lawful, interest upon overdue installments of interest on each Note at the rate or rates prescribed therefor in such SecuritiesNotes, and
(D4) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2b) all Events of Default with respect to Securities of that seriesNotes, other than the non-payment nonpayment of the principal of Securities of that series Notes which have has become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission and waiver shall affect any subsequent default or impair any right consequent thereon. If an Event of Default described in clause (g) or (h) of Section 5.1 occurs with respect to the Company or any Significant Subsidiary, the principal of, premium, if any, and accrued interest on the Notes shall be due and payable immediately without any further action or notice.
Appears in 2 contracts
Acceleration of Maturity; Rescission and Annulment. If an Event of Default (other than as specified in Section 5.01(d) or (e)) with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in aggregate principal amount of the Outstanding Securities of that each such affected series may may, and the Trustee at the request of such Holders shall, declare the principal amount (orof and accrued and unpaid interest on, if any all of the Outstanding Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) of all of the Securities of that series to be immediately due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by the Holders)) and, and upon any such declaration declaration, all such amounts will become due and payable immediately. If an Event of Default specified in Section 5.01(d) or (e) above occurs and is continuing, then the principal amount (or specified amount) of all of the Securities Outstanding of that series shall automatically become and be immediately due and payablepayable without any declaration or other act on the part of the Trustee or any Holder of Securities of that series. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article providedTrustee, the Holders of a majority in aggregate principal amount of the Outstanding Securities of that any series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences with respect to Securities of such series if:
(1a) the Company or any Guarantor has paid or deposited with the Trustee a sum sufficient to pay,
(Ai) all overdue interest on and Additional Amounts payable with respect to all Outstanding Securities of that series,
(Bii) the all principal of (and premium, if any, on) any Outstanding Securities of that series which have that has become due otherwise other than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securitiesborne by the Securities of that series and any Additional Amounts payable with respect thereto,
(Ciii) to the extent that payment of such interest is lawful, interest upon on overdue interest interest, any Additional Amounts and overdue principal at the rate or rates prescribed therefor in such Securitiesborne by the Securities of that series, and
(Div) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2b) all Events of Default with respect to Securities of that series, other than the non-payment of the amounts of principal of or interest on and any Additional Amounts with respect to the Securities of that series which that have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default Default or impair any right consequent thereon.
Appears in 2 contracts
Sources: Indenture (Amvescap PLC/London/), Indenture (INVESCO North American Holdings, Inc.)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to any Series of Securities of any series at the time for which there are Securities Outstanding occurs and is continuing, then then, and in every such case case, the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series such Series may declare the principal amount of all the Securities of such Series (or, if any of the Securities of that series Series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in, or determined in accordance with, the terms thereof) of all of the Securities of that series Series) to be immediately due and payable immediatelypayable, by giving a notice in writing to the Company Applicable Issuer or, if the Securities of that Series are Guaranteed Securities, the Guarantor (and to the Trustee if given by Holders), and upon any such declaration declaration, such principal amount (or specified amount) , together with accrued interest thereof, shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series Series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, such Series by written notice to the Company Issuer and, if the Securities of that Series are Guaranteed Securities, the Guarantor and the Trustee, may rescind and annul such declaration and its consequences consequences, and any Event of Default giving rise to such declaration shall not be deemed to have occurred, if:
(1i) the Company Applicable Issuer or, if the Securities of that Series are Guaranteed Securities, the Guarantor has paid or deposited with the Trustee a sum sufficient to pay:
(A) all overdue installments of interest on all Securities of that seriessuch Series,
(B) the principal of (and premium, if any, on) any of the Securities of such Series that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in by the terms of the Securities of such SecuritiesSeries,
(C) to the extent that payment of such interest is lawful, interest upon overdue installments of interest at the rate or rates prescribed therefor in by the terms of the Securities of such SecuritiesSeries, and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its the Registrar, any Paying Agent, and their agents and counselcounsel and all other amounts due the Trustee under Section 8.07; and
(2ii) all Events of Default with respect to Securities of that seriesSeries, other than the non-payment nonpayment of the principal of Securities of that series which Series that have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.137.13. No such rescission recession shall affect any subsequent default or impair any right consequent thereon.
Appears in 2 contracts
Sources: Indenture (Wal Mart Cayman Sterling Finance Co), Indenture (Wal Mart Cayman Sterling Finance Co)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series Series at the time Outstanding outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding outstanding Securities of that series Series may declare the principal amount (or, if any of the Securities of that series Series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereofof such Securities) of all of the Securities of that series Series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. If an Event of Default specified in Section 6.1(e) shall occur, the principal amount (or specified amount) of all outstanding Securities shall ipso facto become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. At any time after such a declaration of acceleration with respect to Securities of any series Series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding outstanding Securities of that seriesSeries, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if:
(1a) the Company has paid or deposited with the Trustee a sum sufficient to pay
(Ai) all overdue interest on all Securities of that seriesSeries,
(Bii) the principal of (and premium, if any, on) any Securities of that series Series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(Ciii) to the extent that payment of such interest is lawful, interest upon any overdue principal and overdue interest at the rate or rates prescribed therefor in such Securities, and
(Div) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2b) all Events of Default with respect to Securities of that seriesSeries, other than the non-payment of the principal of Securities of that series Series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.136.13. No such rescission shall affect any subsequent default Default or impair any right consequent thereon.
Appears in 2 contracts
Sources: Senior Indenture (Beverly Enterprises Inc), Subordinated Indenture (Beverly Enterprises Inc)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if:
(1) the Company has paid or deposited with the Trustee a sum sufficient to pay:
(Ai) all overdue interest on all Securities of that series,
(Bii) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(Ciii) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and
(Div) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 2 contracts
Sources: Indenture (Jefferies Group Inc /De/), Indenture (Jefferies Group Inc /De/)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holder or Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if
(1) the Company has paid or deposited with the Trustee a sum sufficient to pay
(A) all overdue interest on all Securities of that series,
(B) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and;
(2) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 2 contracts
Sources: Indenture (Case Credit Corp), Indenture (Case Credit Corp)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then and in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may (and the Trustee shall at the request of such Holders) declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities or Indexed Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by the Holders), and upon any such declaration such principal amount (or specified amount) portion thereof shall become immediately due and payable. Any application by the Trustee for written instructions from the requisite amount of Holders (as determined pursuant to this Indenture) may, at the option of the Trustee, set forth in writing any action proposed to be taken or omitted by the Trustee under this Indenture and the date on and/or after which such action shall be taken or such omission shall be effective. The Trustee shall not be liable for any action taken by, or omission of, the Trustee in accordance with a proposal included in such application on or after the date specified in such application unless prior to taking any such action (or the effective date in the case of an omission), the Trustee shall have received written instructions from the requisite amount of Holders together with an indemnity satisfactory to the Trustee (as determined pursuant to this Indenture) in response to such application specifying the action to be taken or omitted. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter provided in this Article providedArticle, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if
(1) the Company has paid or deposited with the Trustee a sum sufficient to pay
(A) all overdue interest on all Securities of that series,
(B) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon.:
Appears in 2 contracts
Sources: Indenture (Main Street Capital CORP), Indenture (Main Street Capital CORP)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then and in every such case the Trustee or the Holders of not less than 2533% in aggregate principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereofof that series) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company Corporation (and to the Trustee if given by Holders), provided, however, that in the case of the Securities of a series issued to an Issuer Trust, if, upon an Event of Default, the Trustee or the Holders of not less than 33% in principal amount of the Outstanding Securities of such series fail to declare the principal of all the Outstanding Securities of such series to be immediately due and payable, the holders of at least 33% in aggregate Liquidation Amount (as defined in the related Trust Agreement) of the related series of Preferred Securities issued by such Issuer Trust then outstanding shall have the right to make such declaration by a notice in writing to the Corporation and the Trustee; and upon any such declaration such principal amount (or specified amountportion thereof) of and the accrued interest (including any Additional Interest) on all the Securities of such series shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in aggregate principal amount of the Outstanding Securities of that series, by written notice to the Company Corporation and the Trustee, may rescind and annul such declaration and its consequences if:
(1) the Company Corporation has paid or deposited with the Trustee a sum sufficient to pay:
(A) all overdue installments of interest on all Securities of that such series,
(B) any accrued Additional Interest on all Securities of such series,
(C) the principal of (and premium, if any, on) any Securities of such series that series which have become due otherwise than by such declaration of acceleration and any interest and Additional Interest thereon at the rate or rates prescribed therefor in such Securities,
(C) to borne by the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have that has become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 2 contracts
Sources: Junior Subordinated Indenture (Everest Re Group LTD), Junior Subordinated Indenture (Everest Re Capital Trust)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to any Series of Securities of any series at the time for which there are Securities Outstanding occurs and is continuing, then then, and in every such case case, the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series such Series may declare the principal amount of all the Securities of such Series (or, if any of the Securities of that series Series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in, or determined in accordance with, the terms thereof) of all of the Securities of that series Series) to be immediately due and payable immediatelypayable, by giving a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration declaration, such principal amount (or specified amount) , together with accrued interest thereof, shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series Series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, such Series by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences consequences, and any Event of Default giving rise to such declaration shall not be deemed to have occurred, if:
(1i) the Company has paid or deposited with the Trustee a sum sufficient to pay:
(A) all overdue installments of interest on all Securities of that seriessuch Series,
(B) the principal of (and premium, if any, on) any of the Securities of such Series that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in by the terms of the Securities of such SecuritiesSeries,
(C) to the extent that payment of such interest is lawful, interest upon overdue installments of interest at the rate or rates prescribed therefor in by the terms of the Securities of such SecuritiesSeries, and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its the Registrar, any Paying Agent, and their agents and counselcounsel and all other amounts due the Trustee under Section 8.07; and
(2ii) all Events of Default with respect to Securities of that seriesSeries, other than the non-payment nonpayment of the principal of Securities of that series which Series that have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.137.13. No such rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 2 contracts
Sources: Indenture (Wal Mart Stores Inc), Indenture (Wal Mart Stores Inc)
Acceleration of Maturity; Rescission and Annulment. (a) If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee by notice to the Company or the Holders of not less than at least 25% in principal amount aggregate Original Principal Amount of the Outstanding Securities of that series at the time outstanding by written notice to the Company and the Trustee, may declare the principal amount (or, if any Accreted Principal Amount of the Securities through the date of that series are Original Issue Discount Securitiessuch declaration, any accrued Contingent Accretion, and any accrued and unpaid interest (including Contingent Interest and Liquidated Damages, if any) through the date of such declaration, on all the Securities to be immediately due and payable. Upon such a declaration, such portion of the principal amount of Accreted Principal Amount, such Securities as may be specified in the terms thereofaccrued Contingent Accretion, and such accrued and unpaid interest (including Contingent Interest and Liquidated Damages, if any) of all of the Securities of that series to shall be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount Original Principal Amount of the Outstanding Securities of that seriesthen outstanding, by written notice to the Company and the Trustee, may waive all defaults with respect to the Securities and rescind and annul such declaration and its consequences if
(1i) the Company has paid or deposited with the Trustee a sum sufficient to pay
(A) all overdue interest (including Contingent Interest and Liquidated Damages, if any) on all Securities of that seriesSecurities,
(B) the principal Accreted Principal Amount of (the Securities and premium, if any, on) any Securities of accrued Contingent Accretion that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the overdue rate or rates prescribed therefor in such SecuritiesSecurities or, if no such rate or rates are so prescribed, at the rate of cash interest borne by the Securities during the period of such default, or if such default is after December 1, 2006 and the Securities are not then bearing cash interest, the Applicable Yield of the Securities during the period of such default,
(C) to the extent that payment of such interest is lawfulenforceable under applicable law, interest upon overdue interest or overdue Contingent Interest to the date of such payment or deposit at the overdue rate or rates prescribed therefor in such SecuritiesSecurities or, if no such rate or rates are so prescribed, at the rate of cash interest borne by the Securities during the period of such default, or if such default is after December 1, 2006 and the Securities are not then bearing cash interest, the Applicable Yield of the Securities during the period of such default, and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2ii) all Events of Default with respect to Securities of that seriesthe Securities, other than the any non-payment of the principal Accreted Principal Amount and any accrued Contingent Accretion of the Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.134.13. No such waiver or rescission and annulment shall affect any subsequent default or impair any right consequent thereon.
Appears in 2 contracts
Sources: Indenture (American Express Co), Indenture (American Express Co)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then and in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereofof that series) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that seriesseries (subject to, in the case of any series of Securities held as trust assets of a Hartford Life Trust, obtaining the consent of the holders of the Trust Securities of such Hartford Life Trust as may be required by the applicable declaration of such Hartford Life Trust), by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if:
(1a) the Company has paid or deposited with the Trustee a sum sufficient to pay:
(Ai) all overdue installments of interest on all Securities of that series,;
(Bii) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such borne by the Securities,;
(Ciii) to the extent that payment of such interest is lawful, interest upon overdue installments of interest at the rate or rates prescribed therefor in such borne by the Securities, ; and
(Div) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2b) all Events of Default with respect to Securities of that series, other than the non-payment nonpayment of the principal of Securities of that series which have has become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon. Upon receipt by the Trustee of written notice declaring such an acceleration, or rescission and annulment thereof, with respect to Securities of a series all or part of which is represented by a Global Security, a record date shall be established for determining Holders of Outstanding Securities of such series entitled to join in such notice, which record date shall be at the close of business on the day the Trustee receives such notice. The Holders on such record date, or their duly designated proxies, and only such Persons, shall be entitled to join in such notice, whether or not such Holders remain Holders after such record date; provided that, unless such declaration of acceleration, or rescission and annulment, as the case may be, shall have become effective by virtue of the requisite percentage having joined in such notice prior to the day which is 90 days after such record date, such notice of declaration of acceleration, or rescission and annulment, as the case may be, shall automatically and without further action by any Holder be canceled and of no further effect. Nothing in this paragraph shall prevent a Holder, or a proxy of a Holder, from giving, after expiration of such 90-day period, a new written notice of declaration of acceleration, or rescission and annulment thereof, as the case may be, that is identical to a written notice which has been canceled pursuant to the proviso to the preceding sentence, in which event a new record date shall be established pursuant to the provisions of this Section 5.02.
Appears in 2 contracts
Sources: Subordinated Indenture (Hartford Life Inc), Subordinated Indenture (Hartford Life Capital Iii)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereofof that series) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if
(1) the Company has paid or deposited with the Trustee a sum sufficient to pay
(A) all overdue interest on all Securities of that series,
(B) the principal of (and premium, if any, on) and any sinking fund payments with respect to any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(C) to the extent that payment of such interest is lawfulenforceable under applicable law, interest upon overdue interest to the date of such payment or deposit at the rate or rates prescribed therefor in such SecuritiesSecurities or, if no such rate or rates are so prescribed, at the rate borne by the Securities during the period of such default, and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such waiver or rescission and annulment shall affect any subsequent default or impair any right consequent thereon.
Appears in 2 contracts
Sources: Indenture (Carnival PLC), Indenture (Carnival Corp)
Acceleration of Maturity; Rescission and Annulment. (a) If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or Trustee, acting pursuant to an Act of the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securitiesthe relevant series, with respect to all Outstanding Securities of such portion series, or the Holder of any Outstanding Security of the principal relevant series, with respect to such Security held by such Holder, may declare the principal, or such lesser amount as may be provided for in the Securities of such series, of such Securities or Security, as the case may be specified in the terms thereof) of all of the Securities of that series be, to be due and payable immediately, immediately by a giving written notice in writing to the Company (and to the Trustee if given by Holders)Company, and upon receipt of any such declaration such principal or such lesser amount (or specified amount) shall become immediately due and payable. .
(b) At any time after such a declaration of acceleration with respect to Securities or Security, as the case may be, of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of not less than a majority in principal amount of the Outstanding Securities of that such series, may by written notice to the Company and the TrusteeAct, may rescind and annul such declaration and its consequences if:
(1i) the Company or the Guarantor has paid or deposited with the Trustee a sum of money sufficient to pay:
(A) all overdue installments of any interest on and Additional Amounts with respect to all Securities of that such series,
(B) the principal of (and premium, if any, on) any premium on any Securities of that such series which have become due otherwise than by such declaration of acceleration and any interest thereon and any Additional Amounts with respect thereto at the rate or rates prescribed therefor borne by or provided for in such Securities,
(C) to the extent that payment of such interest or Additional Amounts is lawful, interest upon overdue installments of any interest and Additional Amounts at the rate or rates prescribed therefor borne by or provided for in such Securities, and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counselcounsel and all other amounts due the Trustee under Section 6.07; and
(2ii) all Events of Default with respect to Securities of that such series, other than the non-payment of the principal of and any premium and interest on, and any Additional Amounts with respect to Securities of that such series which shall have become due solely by such declaration of acceleration, shall have been cured or waived as provided in Section 5.13. .
(c) No such rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 2 contracts
Sources: Indenture (BBVA International Preferred, S.A. Unipersonal), Indenture (Bbva Subordinated Capital, S.A. Unipersonal)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Debt Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Debt Securities of that such series may declare the principal amount (or, if any of the Debt Securities of that such series are Original Issue Discount Securities, such portion of the principal amount of such Discount Securities as may be specified in the terms thereofof such Discount Securities) of all of the Debt Securities of that such series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) plus accrued and unpaid interest (and premium, if payable) shall become immediately due and payable. Upon payment of such amount in the Currency in which such Debt Securities are denominated (except as otherwise provided pursuant to Sections 3.01 or 3.10), all obligations of the Company in respect of the payment of principal of the Debt Securities of such series shall terminate. At any time after such a declaration of acceleration with respect to Debt Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Debt Securities of that such series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if
(1) the Company has paid or deposited with the Trustee a sum in the Currency in which such Debt Securities are denominated (except as otherwise provided pursuant to Section 3.01 or 3.10) sufficient to pay
(A) all overdue installments of interest on all Debt Securities of that such series,
(B) the principal of (and premium, if any, on) any Debt Securities of that such series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Debt Securities,
(C) to the extent that payment of such interest is lawful, interest upon overdue installments of interest on each Debt Security of such series at the rate or rates prescribed therefor in such SecuritiesOverdue Rate, and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; provided, however, that all sums payable -------- ------- under this clause (D) shall be paid in Dollars; and
(2) all All Events of Default with respect to Debt Securities of that such series, other than the non-payment nonpayment of the principal of Debt Securities of that such series which have has become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission and waiver shall affect any subsequent default or impair any right consequent thereon.
Appears in 2 contracts
Sources: Debt Indenture (Aramark Services Inc), Indenture (Genesee & Wyoming Inc)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if
(1a) the Company has paid or deposited with the Trustee a sum sufficient to pay
(A) all overdue interest on all Securities and coupons appertaining thereto, if any, of that series,
(B) the principal of (and premium, if any, on) any Securities and coupons appertaining thereto, if any, of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such SecuritiesSecurities and coupons appertaining thereto, if any, and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2b) all Events of Default with respect to Securities and coupons appertaining thereto, if any, of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon.
Appears in 2 contracts
Sources: Indenture (Royal Gold Inc /De/), Indenture (Royal Gold Inc /De/)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if
(1a) the Company has paid or deposited with the Trustee a sum sufficient to pay
(Ai) all overdue interest on all Securities of that series,.
(Bii) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,.
(Ciii) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and
(Div) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2b) all Events of Default with respect to Securities of that series, other than the non-payment nonpayment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default Default or impair any right consequent thereon.
Appears in 2 contracts
Sources: Indenture (El Paso Energy Capital Trust I), Indenture (El Paso Energy Capital Trust Iii)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default (other than an Event of Default specified in Section 4.1(f) or (g)) with respect to Securities of any series at the time Outstanding occurs shall occur and is be continuing, then in every such case the Trustee Trustee, by written notice to the Company, or the Holders holders of not less than at least 25% in aggregate principal amount of the Outstanding Securities of that series series, by notice to the Trustee and the Company, may declare the all unpaid principal amount of (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) of ), premium, if any, and accrued interest on all of the Securities of that series to be due and payable immediately, by a notice upon which declaration all amounts payable in writing to the Company (and to the Trustee if given by Holders), and upon any respect of such declaration such principal amount (or specified amount) Securities shall become be immediately due and payable. If an Event of Default specified in Section 4.1(f) or (g) occurs and is continuing, then the principal of (or, if Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof), premium, if any, and accrued interest on all Outstanding Securities shall ipso facto become and be immediately due and payable without any declaration, notice or other act on the part of the Trustee or any Holder. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in aggregate principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if:
(1a) the Company has paid or deposited with the Trustee a sum sufficient to pay:
(A) all overdue interest on all Securities of that series,
(B) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and
(Di) all sums paid or advanced by the Trustee hereunder under this Indenture and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel,
(ii) all overdue interest on all Outstanding Securities of that series,
(iii) all unpaid principal of (and premium, if any, on) any Outstanding Securities of that series which has become due otherwise than by such declaration of acceleration and interest on such unpaid principal at the rate borne by such Securities, and
(iv) to the extent that payment of such interest is lawful, interest upon overdue interest and overdue principal which has become due otherwise than by such declaration of acceleration (without duplication of any amount deposited pursuant to clauses (ii) and (iii) above), at the rate or rates prescribed therefor in such Securities of that series;
(b) the rescission would not conflict with any judgment or decree of a court of competent jurisdiction; and
(2c) all Events of Default with respect to Securities of that series, other than the non-payment nonpayment of the principal of (or premium, if any, on), and interest on Securities of that series which have that has become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.134.13. No such rescission shall affect any subsequent default or impair any right consequent thereon. Notwithstanding the foregoing, in the event of a declaration of acceleration in respect of Securities of a series because of an Event of Default specified in Section 4.1(e) shall have occurred and be continuing, such declaration of acceleration and any consequential acceleration shall be automatically rescinded if the Debt that is the subject of such Event of Default shall have been repaid, or if the default relating to such Debt shall have been waived or cured and if such Debt were accelerated, then the holders thereof shall have rescinded their declaration of acceleration in respect of such Debt (provided, in each case, that such repayment, waiver, cure or rescission were effected within a period of 10 days from the continuation of such default beyond the applicable grace period or the occurrence of such acceleration), and written notice of such repayment, or cure or waiver and rescission, as the case may be, shall have been given to the Trustee by the Company and countersigned by the holders of such Debt or a trustee, fiduciary or agent for such holders or other evidence satisfactory to the Trustee of such events is provided to the Trustee, within 30 days after such declaration of acceleration in respect of such Securities, and no other Event of Default has occurred during such 30-day period which has not been cured or waived during such period, and so long as such rescission of the declaration of acceleration of such Securities does not conflict with any judgment or decree as certified to the Trustee by the Company.
Appears in 2 contracts
Sources: Indenture (Xto Energy Inc), Indenture (Xto Energy Inc)
Acceleration of Maturity; Rescission and Annulment. If an Event of Default (other than an Event of Default specified in Section 501(5) or Section 501(8) which is common to all Outstanding series of Securities) with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount of all the Securities of that series (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in by the terms thereof) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. If an Event of Default under Section 501(5) occurs and is continuing, then the principal amount (or specified amount) on all Outstanding Securities automatically shall become due and payable. If an Event of Default under Section 501(8) which is common to all Outstanding series of Securities occurs and is continuing, then in such case, the Trustee or the Holders of not less than 25% in aggregate principal amount of all the Securities then Outstanding hereunder (treated as one class), by a notice in writing to the Company (and to the Trustee if given by Holders) may declare the principal amount (or, if any Securities are Original Issue Discount Securities, such portion of the principal amount as may be specified by the terms thereof) of all the Securities then Outstanding to be due and payable immediately, and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter provided in this Article providedFive, the Holders Event of a majority in principal amount Default giving rise to such declaration of the Outstanding Securities of that seriesacceleration shall, by written notice without further act, be deemed to the Company have been waived, and the Trustee, may rescind and annul such declaration and its consequences if
(1) the Company has paid or deposited with the Trustee a sum sufficient shall, without further act, be deemed to pay
(A) all overdue interest on all Securities of that series,
(B) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,
(C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and
(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and
(2) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. No such rescission shall affect any subsequent default or impair any right consequent thereon.rescinded and annulled, if:
Appears in 2 contracts
Sources: Indenture (Lear Corp), Indenture (Lear Argentine Holdings Corp #2)