Common use of Acceleration on Default Clause in Contracts

Acceleration on Default. In case an Event of Default has occurred, the Trustee may in its discretion and shall upon the requisition in writing of the holders of at least 25% of the principal amount of the Debt Securities then outstanding, subject to the provisions of Section 6.3, by notice in writing to the Corporation declare the principal and interest of all Debt Securities then outstanding and other moneys payable hereunder to be due and payable and the same shall become immediately due and payable to the Trustee on demand, anything therein or herein to the contrary notwithstanding, and the Corporation shall on such demand forthwith pay to the Trustee for the benefit of the Debt Security holders the principal of and accrued and unpaid interest and interest on amounts in default on such Debt Securities (and, where such a declaration is based upon a voluntary winding-up or liquidation of the Corporation, the premium, if any, on the Debt Securities then outstanding which would have been payable upon the redemption thereof by the Corporation on the date of such declaration) and all other moneys secured hereby, together with subsequent interest thereon at the rates borne by the Debt Securities (to the extent permitted by law), or if no rate is specified at an annual rate equivalent to the annual rate of interest announced from time to time by the Royal Bank of Canada as being its reference rate then in effect for determining interest rates on Canadian dollar commercial loans made in Canada, from the date of the said declaration until payment is received by the Trustee, such subsequent interest to be payable at the times and places and in the moneys mentioned in and according to the tenor of the Debt Securities and coupons. Such payment when made shall be deemed to have been made in discharge of the Corporation's obligations hereunder and any moneys so received by the Trustee shall be applied as provided in Section 6.5.

Acceleration on Default. In case an Event any event of Default default hereunder has occurred, the Trustee may in its discretion and shall upon the requisition in writing receipt of the holders of at least 25% of the principal amount of the Debt Securities then outstanding, subject to the provisions of Section 6.3, by notice in writing to the Corporation a Debentureholders’ Request declare the principal of and interest of on all Debt Securities Debentures then outstanding and other moneys payable hereunder to be due and payable and the same shall forthwith become immediately due and payable to the Trustee on demand, anything therein or herein to the contrary notwithstanding, and the Corporation shall on such demand forthwith pay to the Trustee for the benefit of the Debt Security holders Debentureholders the principal of and accrued and unpaid interest and interest on amounts in default on such Debt Securities Debentures (and, where such a declaration is based upon a voluntary winding-up or liquidation of the Corporation, the premium, premium (if any, ) on the Debt Securities Debentures then outstanding which would have been payable upon the redemption thereof by the Corporation Corporation, other than through sinking fund operations, on the date of such declaration) and all other moneys secured hereby, payable thereunder together with subsequent interest thereon at the rates borne by the Debt Securities (to the extent permitted by law), or if no rate is specified at an annual rate equivalent to the annual rate of interest announced from time to time by the Royal Bank of Canada as being its reference rate then in effect for determining interest rates on Canadian dollar commercial loans made in Canada, Debentures from the date of the said declaration until payment is received by the Trustee, such subsequent interest to be payable at the times and places and in the moneys mentioned in and according to the tenor of the Debt Securities Debentures and coupons. Such payment when made shall be deemed to to Section 6.02 have been made in discharge of the Corporation's ’s obligations hereunder and any moneys so received by the Trustee shall be applied as provided in Section 6.5herein provided.

Acceleration on Default. In case an Event of Default has occurred, the Trustee may in its discretion and shall upon the requisition in writing of the holders of at least 25% of the principal amount of the Debt Securities affected Debentures then outstanding, subject to the provisions of Section 6.3, by notice in writing to the Corporation declare the principal and interest of all Debt Securities such Debentures then outstanding and other moneys payable hereunder to be due and payable and the same shall become immediately due and payable to the Trustee on demand, anything therein or herein to the contrary notwithstanding, and the Corporation shall on such demand forthwith pay to the Trustee for the benefit of the Debt Security Debenture holders the principal of and accrued and unpaid interest and interest on amounts in default on such Debt Securities Debentures (and, where such a declaration is based upon a voluntary winding-winding up or liquidation of the Corporation, the premium, if any, on the Debt Securities Debentures then outstanding which would have been payable upon the redemption thereof by the Corporation on the date of such declaration) and all other moneys secured hereby, together with subsequent interest thereon at the rates borne by the Debt Securities Debentures (to the extent permitted by law), or if no rate is specified at an annual rate equivalent to the annual rate of interest announced from time to time by the Royal Bank of Canada as being its reference prime rate then in effect for determining interest rates on Canadian dollar commercial loans made in Canada, from the date of the said declaration until payment is received by the Trustee, such subsequent interest to be payable at the times and places and in the moneys mentioned in and according to the tenor of the Debt Securities Debentures and coupons. Such payment when made shall be deemed to have been made in discharge of the Corporation's obligations hereunder and any moneys so received by the Trustee shall be applied as provided in Section 6.5.

Acceleration on Default. In case an Event of Default has occurred, the Trustee may in its discretion and shall upon the requisition in writing of the holders of at least 25% of the principal amount of the Debt Securities Debentures then outstanding, subject to the provisions of Section 6.36.03, by notice in writing to the Corporation Company declare the principal and interest of all Debt Securities Debentures then outstanding and other moneys payable hereunder to be due and payable and the same shall forthwith become immediately due and payable to the Trustee on demand, anything therein or herein to the contrary notwithstanding, and the Corporation Company shall on such demand forthwith pay to the Trustee for the benefit of the Debt Security debenture holders the principal of and accrued and unpaid interest and interest on amounts in default on such Debt Securities Debentures (and, where such a declaration is based upon a voluntary winding-up or liquidation of the CorporationCompany, the premium, if any, on the Debt Securities Debentures then outstanding which would have been payable upon the redemption thereof by the Corporation Company on the date of such declaration) and all other moneys secured herebypayable hereunder, together with subsequent interest thereon at the rates borne by the Debt Securities (to the extent permitted by law), or if no rate is specified at an annual rate equivalent to the annual rate of interest announced from time to time by the Royal Bank of Canada as being its reference rate then in effect for determining interest rates on Canadian dollar commercial loans made in Canada, Debentures from the date of the said declaration until payment is received by the Trustee, such subsequent interest to be payable at the times and places and in the moneys mentioned in and according to the tenor of the Debt Securities and couponsDebentures. Such payment when made shall be deemed to have been made in discharge of the Corporation's Company’s obligations hereunder and any moneys so received by the Trustee shall be applied as provided in Section 6.56.05.

Acceleration on Default. In case If an Event of Default hereunder has occurredoccurred and is continuing, then the Trustee may in its discretion discretion, and shall upon the requisition in writing receipt of the holders of at least 25% of the principal amount of the Debt Securities then outstandinga Debentureholders' Request, subject to the provisions of Section 6.3, by notice in writing to the Corporation declare the principal of and interest of on all Debt Securities Debentures then outstanding and other moneys monies payable hereunder to be due and payable and the same such amounts shall forthwith become immediately due and payable to the Trustee on demand, anything therein or herein to the contrary notwithstanding, and the . The Corporation shall on such demand forthwith pay to the Trustee for the benefit of the Debt Security holders Debentureholders the principal of of, and accrued and unpaid interest and interest on amounts in default on on, such Debt Securities Debentures (and, where such a declaration is based upon a voluntary dissolution, winding-up or liquidation of the Corporation, the premium, if any, on the Debt Securities Debentures then outstanding which would have been payable upon the redemption thereof by the Corporation Corporation, other than through sinking fund operations, on the date of such declaration) and all other moneys secured hereby, monies payable thereunder together with subsequent interest thereon at the rates borne by the Debt Securities (to the extent permitted by law), or if no rate is specified at an annual rate equivalent to the annual rate of interest announced from time to time by the Royal Bank of Canada as being its reference rate then in effect for determining interest rates on Canadian dollar commercial loans made in Canada, Debentures from the date of the said such declaration until payment is received by the Trustee, such subsequent interest to be payable at the times and places and in the moneys monies mentioned in and according to the tenor of the Debt Securities Debentures and coupons. Such payment when made shall be deemed to have been made in discharge satisfaction of the Corporation's obligations hereunder and any moneys monies so received by the Trustee shall be applied as provided in Section 6.5herein provided.

Acceleration on Default. In case an Event event of Default default has occurred, the Trustee may in its discretion and shall upon the requisition in writing receipt of the holders of at least 25% of the principal amount of the Debt Securities then outstandinga Debentureholders' Request, subject to the provisions of Section 6.3section 6.04, by notice in writing to the Corporation declare the principal and interest of all Debt Securities Debentures then outstanding and other moneys payable hereunder to be due and payable and the same shall forthwith become immediately due and payable to the Trustee on demand, anything therein or herein to the contrary notwithstanding, and the Corporation Bank shall on such demand forthwith pay to the Trustee for the benefit of the Debt Security holders Debentureholders the principal of and accrued and unpaid interest and (including interest on all amounts in default overdue) on such Debt Securities (and, where such a declaration is based upon a voluntary winding-up or liquidation of the CorporationDebentures, the premium, premium (if any, on the Debt Securities then outstanding which would have been payable upon the redemption thereof by the Corporation on the date of such declaration) provided for in subsection (2) and all other moneys secured herebypayable hereunder, together with subsequent interest thereon at the rates borne by the Debt Securities (to the extent permitted by law), or if no rate is specified at an annual rate equivalent to the annual rate of interest announced from time to time by the Royal Bank of Canada as being its reference rate then in effect for determining interest rates on Canadian dollar commercial loans made in Canada, Debentures from the date of the said declaration until payment is received by the Trustee, such subsequent interest to be payable at the times and places and in the moneys mentioned in and according to the tenor of the Debt Securities Debentures and coupons. Such payment when made shall be deemed to have been made in discharge of the CorporationBank's obligations hereunder and any moneys so received by the Trustee shall be applied as provided in Section 6.5herein provided.