Common use of Debentures Declared Due Clause in Contracts

Debentures Declared Due. In the event that any of the Debentures are declared due and payable before their stated maturity because of the occurrence of an Event of Default (as defined in Section 8), the Holders of the Debentures shall be entitled to payment only after there shall first have been paid in full (or such payment shall have been provided for) all Senior Indebtedness referred to in Sections 5(a)(b) and 5(a)(c) outstanding at the time such Debentures are declared due and payable and all interest thereon.

Debentures Declared Due. In the event that any of the Debentures are declared due and payable before their stated maturity because of the occurrence of an Event of Default (as defined in Section 8)7 hereof), the Holders of the Debentures shall be entitled to payment only after there shall first have been paid in full (or such payment shall have been provided for) all Senior Indebtedness referred to in Sections 5(a)(b) and 5(a)(c) outstanding at the time such Debentures are declared due and payable and all interest thereon.