Acceleration of Payment of Securities. If payment of the Securities is accelerated because of an Event of Default, the Company or the Trustee (provided, that the Trustee shall have received written notice from the Company, on which notice the Trustee shall be entitled to conclusively rely) shall promptly notify the holders of the Designated Senior Indebtedness of the Company (or their Representative) of the acceleration. If any Designated Senior Indebtedness of the Company is outstanding, the Company may not pay the Securities until five Business Days after such holders or the Representative of such Designated Senior Indebtedness receive notice of such acceleration and, thereafter, may pay the Securities only if this Article 10 otherwise permits payment at that time.
Appears in 5 contracts
Sources: Credit Agreement (Trimas Corp), Indenture (TRW Automotive Inc), Indenture (TRW Automotive Inc)
Acceleration of Payment of Securities. If payment of the Securities is accelerated because of an Event of Default, the Company Issuers or the Trustee (provided, that the Trustee shall have received written notice from the CompanyIssuers, on which notice the Trustee shall be entitled to conclusively rely) shall promptly notify the holders of the Designated Senior Indebtedness of the Company each Issuer (or their Representative) of the acceleration. If any Designated Senior Indebtedness of the Company Issuers is outstanding, the Company Issuers may not pay the Securities until five Business Days after such holders or the Representative of such Designated Senior Indebtedness receive notice of such acceleration and, thereafter, may pay the Securities only if this Article 10 otherwise permits payment at that time.
Appears in 4 contracts
Sources: Indenture (Dex Media West LLC), Indenture (Dex Media Inc), Indenture (Dex Media International Inc)
Acceleration of Payment of Securities. If payment of the Securities is accelerated because of an Event of Default, the Company or the Trustee (provided, that the Trustee shall have received written notice from the Company, on which notice the Trustee shall be entitled to conclusively rely) shall promptly notify the holders of the Designated Senior Indebtedness of the Company (or their Representative) the Representative of such Designated Senior Indebtedness of the acceleration; provided that any failure to give such notice shall have no effect whatsoever on the provisions of this Article Fourteen. If any Designated Senior Indebtedness of the Company is outstanding, the Company may not pay the Securities until five Business Days after such the Representatives of all the holders or the Representative of such Designated Senior Indebtedness receive notice of such acceleration and, thereafter, may pay the Securities only if this Article 10 Indenture otherwise permits payment at that time.
Appears in 2 contracts
Sources: Subordinated Indenture (Cottonwood Land Co), Subordinated Indenture (Peabody Energy Corp)
Acceleration of Payment of Securities. If payment of the Securities is accelerated because of an Event of Default, the Company or the Trustee (provided, that the Trustee shall have received written notice from the Company, on which notice the Trustee shall be entitled to conclusively rely) shall promptly notify in writing the holders of the Designated Senior Indebtedness of the Company (or their RepresentativeRepresentatives) of the accelerationacceleration (although the failure to give any such notice shall not affect the subordinations of this Article 10). If any Designated Senior Indebtedness of the Company is outstanding, neither the Company may not nor any Guarantor shall pay the Securities until five Business Days after such holders or the Representative Representatives of such all the issues of Designated Senior Indebtedness of the Company receive written notice of such acceleration and, thereafter, may the Company and the Guarantors shall be entitled to pay the Securities (and the Securityholders may accept and retain such payment) only if this Article 10 otherwise permits payment (and the acceptance and retention) at that time.
Appears in 1 contract
Acceleration of Payment of Securities. If payment of the Securities is accelerated because of an Event of Default, the Company or the Trustee (provided, that the Trustee shall have received written notice from the Company, on which notice the Trustee shall be entitled to conclusively rely) shall promptly notify in writing the holders of the Designated Senior Indebtedness of the Company (or their RepresentativeRepresentatives) of the accelerationacceleration (although the failure to give any such notice shall not affect the subordinations of this Article 10). If any Designated Senior Indebtedness of the Company is outstanding, neither the Company may not nor any Subsidiary Guarantor shall pay the Securities until five Business Days after such holders or the Representative Representatives of such all the issues of Designated Senior Indebtedness of the Company receive written notice of such acceleration and, thereafter, may the Company and the Subsidiary Guarantors shall be entitled to pay the Securities (and the Securityholders may accept and retain such payment) only if this Article 10 otherwise permits payment (and the acceptance and retention) at that time.
Appears in 1 contract
Sources: Indenture (Diagnostic Pathology Management Services Inc)
Acceleration of Payment of Securities. If payment of -------------------------------------- the Securities is accelerated because of an Event of Default, the Company or the Trustee (provided, that the Trustee shall have received written notice from the -------- Company, on which notice the Trustee shall be entitled to conclusively rely) shall promptly notify the holders of the Designated Senior Indebtedness of the Company (or their Representative) of the acceleration. If any Designated Senior Indebtedness of the Company is outstanding, the Company may not pay the Securities until five Business Days after such holders or the Representative of such Designated Senior Indebtedness receive notice of such acceleration and, thereafter, may pay the Securities only if this Article 10 otherwise permits payment at that time.
Appears in 1 contract
Sources: Indenture (Commercial Aggregates Transportation & Sales LLC)
Acceleration of Payment of Securities. If payment of the Securities is accelerated because of an Event of Default, the Company or the Trustee (providedPROVIDED, that the Trustee shall have received written notice from the Company, on which notice the Trustee shall be entitled to conclusively rely) shall promptly notify the holders of the Designated Senior Indebtedness of the Company (or their Representative) of the acceleration. If any Designated Senior Indebtedness of the Company is outstanding, the Company may not pay the Securities until five Business Days after such holders or the Representative of such Designated Senior Indebtedness receive notice of such acceleration and, thereafter, may pay the Securities only if this Article 10 otherwise permits payment at that time.
Appears in 1 contract
Sources: Indenture (Alliant Techsystems Inc)
Acceleration of Payment of Securities. If payment of the Securities is accelerated because of an Event of Default, the Company Issuer or the Trustee (provided, that the Trustee shall have received written notice from the CompanyIssuer, on which notice the Trustee shall be entitled to conclusively rely) shall promptly notify the holders of the Designated Senior Indebtedness of the Company Issuer (or their Representative) of the acceleration. If any Designated Senior Indebtedness of the Company Issuer is outstanding, the Company Issuer may not pay the Securities until five Business Days after such holders or the Representative of such Designated Senior Indebtedness receive notice of such acceleration and, thereafter, may pay the Securities only if this Article 10 otherwise permits payment at that time.
Appears in 1 contract
Sources: Indenture (Seagate Technology Malaysia Holding Co Cayman Islands)