Common use of Defaults and Remedies Clause in Contracts

Defaults and Remedies. The Events of Default relating to the Securities are defined in Section 5.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall become due and payable immediately without further action or notice. Holders may not enforce the Indenture or the Securities except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default.

Appears in 32 contracts

Sources: Supplemental Indenture (American Tower Corp /Ma/), Supplemental Indenture (American Tower Corp /Ma/), Supplemental Indenture (American Tower Corp /Ma/)

Defaults and Remedies. The Certain events of bankruptcy or insolvency are Events of Default relating that will result in the principal amount of the Securities, together with premium, if any, and accrued and unpaid interest thereon, becoming due and payable immediately upon the occurrence of such Events of Default. If any other Event of Default with respect to the Securities are defined in Section 5.01 of the Base Indenture. If any Event of Default occurs and is continuing, then in every such case the Trustee or the Holders of at least not less than 25% in aggregate principal amount of the Securities then Outstanding may declare the principal amount of all the Securities, together with premium, if any, and accrued and unpaid interest thereon, to be due and payable immediately in the manner and with the effect provided in the Indenture. Notwithstanding the preceding sentence, however, if at any time after such a declaration of acceleration has been made, the Holders of a majority in principal amount of the then outstanding Securities Outstanding Securities, by written notice to the Trustee, may declare rescind such declaration and annul its consequences if the rescission would not conflict with any judgment or decree of a court already rendered and if all Events of Default with respect to the Securities, other than the nonpayment of the principal, premium, if any, or interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall which has become due and payable immediately without further action solely by such declaration acceleration, shall have been cured or noticeshall have been waived. No such rescission shall affect any subsequent default or shall impair any right consequent thereon. Holders of Securities may not enforce the Indenture or the Securities except as provided in the Indenture. The Trustee may require indemnity or security satisfactory to it before it enforces the Indenture or the Securities. Subject to certain limitations, Holders of a majority in aggregate principal amount of the Securities then outstanding Securities Outstanding may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default (except a Default relating power with respect to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of DefaultSecurities.

Appears in 27 contracts

Sources: Fortieth Supplemental Indenture (Enterprise Products Partners L.P.), Supplemental Indenture (Enterprise Products Partners L.P.), Supplemental Indenture (Enterprise Products Partners L.P.)

Defaults and Remedies. The Certain events of bankruptcy or insolvency are Events of Default relating that will result in the principal amount of the Securities, together with premium, if any, and accrued and unpaid interest thereon, becoming due and payable immediately upon the occurrence of such Events of Default. If any other Event of Default with respect to the Securities are defined in Section 5.01 of the Base Indenture. If any Event of Default occurs and is continuing, then in every such case the Trustee or the Holders of at least not less than 25% in aggregate principal amount of the Securities then outstanding may declare the principal amount of all the Securities, together with premium, if any, and accrued and unpaid interest thereon, to be due and payable immediately in the manner and with the effect provided in the Indenture. Notwithstanding the preceding sentence, however, if at any time after such a declaration of acceleration has been made, the Holders of a majority in principal amount of the then outstanding Securities Securities, by written notice to the Trustee, may declare rescind such declaration and annul its consequences if the rescission would not conflict with any judgment or decree of a court already rendered and if all Events of Default with respect to the Securities, other than the nonpayment of the principal, premium, if any, or interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall which has become due and payable immediately without further action solely by such declaration acceleration, shall have been cured or noticeshall have been waived. No such rescission shall affect any subsequent default or shall impair any right consequent thereon. Holders of Securities may not enforce the Indenture or the Securities except as provided in the Indenture. The Trustee may require indemnity or security satisfactory to it before it enforces the Indenture or the Securities. Subject to certain limitations, Holders of a majority in aggregate principal amount of the Securities then outstanding Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default.

Appears in 17 contracts

Sources: Eighth Supplemental Indenture (Energy Transfer Equity, L.P.), Seventh Supplemental Indenture (Energy Transfer Equity, L.P.), Supplemental Indenture (Energy Transfer Equity, L.P.)

Defaults and Remedies. The Events of Default relating to are set forth in the Securities are defined in Section 5.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediatelypayable. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture or the Securities Notes except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in writing in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default or Event of Default (except a Default or Event of Default relating to the payment of principal, premium, if any, principal or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding by written notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default or Event of Default and its consequences under the Indenture except a continuing Default or Event of Default in the payment of interest on, or the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting HolderNotes. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default.

Appears in 16 contracts

Sources: Global Note (Istar Financial Inc), Global Note (Istar Financial Inc), Global Note (Istar Financial Inc)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 2530% in principal amount of the then outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default or and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, interest on, any of the Securities Notes held by a non-consenting Holder. The Company Holdings III is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company Holdings III is required upon within five (5) Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultand what action the Issuer proposes to take with respect thereto.

Appears in 12 contracts

Sources: Indenture (NXP Semiconductors N.V.), Indenture (Freescale Semiconductor, Ltd.), Indenture (NXP Semiconductors N.V.)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, interest on, any of the Securities Notes held by a non-consenting Holder. The Company is Issuers are required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is Issuers are required upon within ten (10) Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultand what action the Issuers propose to take with respect thereto.

Appears in 12 contracts

Sources: Indenture (OUTFRONT Media Inc.), Indenture (OUTFRONT Media Inc.), Indenture (OUTFRONT Media Inc.)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 2530% in aggregate principal amount of the then outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, interest or interestAdditional Interest, if any) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding Notes by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default or and its consequences under the Indenture except a continuing Default in payment of the principal ofprincipal, premium, if any, interest or interestAdditional Interest, if any, on, any of the Securities Notes held by a non-consenting Holder. The Company Issuer and each Guarantor (to the extent that such Guarantor is so required under the Trust Indenture Act) is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company Issuer is required upon within five Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultand what action the Issuer proposes to take with respect thereto.

Appears in 11 contracts

Sources: Indenture (Energy Future Intermediate Holding CO LLC), Seventh Supplemental Indenture (Energy Future Intermediate Holding CO LLC), Second Supplemental Indenture (Energy Future Holdings Corp /TX/)

Defaults and Remedies. The Certain events of bankruptcy or insolvency are Events of Default relating that will result in the principal amount of the Securities, together with premium, if any, and accrued and unpaid interest thereon, becoming due and payable immediately upon the occurrence of such Events of Default. If any other Event of Default with respect to the Securities are defined in Section 5.01 of the Base Indenture. If any Event of Default occurs and is continuing, then in every such case the Trustee or the Holders of at least not less than 25% in aggregate principal amount of the Securities then outstanding may declare the principal amount of all the Securities, together with premium, if any, and accrued and unpaid interest thereon, to be due and payable immediately in the manner and with the effect provided in the Indenture. Notwithstanding the preceding sentence, however, if at any time after such a declaration of acceleration has been made, the Holders of a majority in principal amount of the then outstanding Securities Securities, by written notice to the Trustee, may declare rescind such declaration and annul its consequences if the rescission would not conflict with any judgment or decree of a court of competent jurisdiction and if all existing Events of Default with respect to the Securities, other than the nonpayment of the principal, premium, if any, or interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall which has become due and payable immediately without further action solely by such declaration acceleration, shall have been cured or noticeshall have been waived. No such rescission shall affect any subsequent default or shall impair any right consequent thereon. Holders of Securities may not enforce the Indenture or the Securities except as provided in the Indenture. The Trustee may require indemnity or security satisfactory to it before it enforces the Indenture or the Securities. Subject to certain limitations, Holders of a majority in aggregate principal amount of the Securities then outstanding Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default.

Appears in 11 contracts

Sources: Seventh Supplemental Indenture (Energy Transfer LP), Fifth Supplemental Indenture (Energy Transfer LP), Third Supplemental Indenture (Energy Transfer LP)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 2530.0% in principal amount of the then outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default or and its consequences under the Indenture Indenture, except a continuing Default in payment of the principal of, premium, if any, or interest, if any, interest on, any of the Securities Notes held by a non-consenting Holder. The Company Issuer is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company Issuer is required upon within five Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultand what action the Issuer proposes to take with respect thereto.

Appears in 11 contracts

Sources: Global Note (Biomet Inc), Global Note (Biomet Inc), Global Note (LVB Acquisition, Inc.)

Defaults and Remedies. The Certain events of bankruptcy or insolvency are Events of Default relating that will result in the principal amount of the Securities, together with premium, if any, and accrued and unpaid interest thereon, becoming due and payable immediately upon the occurrence of such Events of Default. If any other Event of Default with respect to the Securities are defined in Section 5.01 of the Base Indenture. If any Event of Default occurs and is continuing, then in every such case the Trustee or the Holders of at least not less than 25% in aggregate principal amount of the Securities then Outstanding may declare the principal amount of all the Securities, together with premium, if any, and accrued and unpaid interest thereon, to be due and payable immediately in the manner and with the effect provided in the Indenture. Notwithstanding the preceding sentence, however, if at any time after such a declaration of acceleration has been made, the Holders of a majority in principal amount of the then outstanding Securities Outstanding Securities, by written notice to the Trustee, may declare rescind such declaration and annul its consequences if the rescission would not conflict with any judgment or decree of a court already rendered and if all Events of Default with respect to the Securities, other than the nonpayment of the principal, premium, if any, or interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall which has become due and payable immediately without further action solely by such acceleration, shall have been cured or noticeshall have been waived. No such rescission shall affect any subsequent default or shall impair any right consequent thereon. Holders of Securities may not enforce the Indenture or the Securities except as provided in the Indenture. The Trustee may require reasonable indemnity or security before it enforces the Indenture or the Securities. Subject to certain limitations, Holders of a majority in aggregate principal amount of the Securities then outstanding Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default.

Appears in 10 contracts

Sources: Supplemental Indenture (Sunoco Logistics Partners L.P.), Twelfth Supplemental Indenture (Sunoco Logistics Partners L.P.), Thirteenth Supplemental Indenture (Sunoco Logistics Partners L.P.)

Defaults and Remedies. The Events of Default relating to the Securities are defined in Section 5.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall will become due and payable immediately without further action or notice. Holders may not enforce the Indenture or the Securities except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default or and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default.

Appears in 9 contracts

Sources: Supplemental Indenture (American Tower Corp /Ma/), Supplemental Indenture (American Tower Corp /Ma/), Supplemental Indenture (American Tower Corp /Ma/)

Defaults and Remedies. The Events of Default relating to are set forth in the Securities are defined in Section 5.01 of the Base Supplemental Indenture. If any Event of Default occurs with respect to the Notes and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediatelypayable. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture or the Securities Notes except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in writing in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default or Event of Default (except a Default or Event of Default relating to the payment of principal, premium, if any, principal or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding Notes by written notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default or Event of Default and its consequences under the Indenture except a continuing Default or Event of Default in the payment of interest on, or the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting HolderNotes. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Supplemental Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default.

Appears in 9 contracts

Sources: Global Note (Istar Inc.), Global Note (Istar Inc.), Global Note (Istar Inc.)

Defaults and Remedies. The Certain events of bankruptcy or insolvency are Events of Default relating that will result in the principal amount of the Securities, together with premium, if any, and accrued and unpaid interest thereon, becoming due and payable immediately upon the occurrence of such Events of Default. If any other Event of Default with respect to the Securities are defined in Section 5.01 of the Base Indenture. If any Event of Default occurs and is continuing, then in every such case the Trustee or the Holders of at least not less than 25% in aggregate principal amount of the Securities then Outstanding may declare the principal amount of all the Securities, together with premium, if any, and accrued and unpaid interest thereon, to be due and payable immediately in the manner and with the effect provided in the Indenture. Notwithstanding the preceding sentence, however, if at any time after such a declaration of acceleration has been made, the Holders of a majority in principal amount of the then outstanding Securities Outstanding Securities, by written notice to the Trustee, may declare rescind such declaration and annul its consequences if the rescission would not conflict with any judgment or decree of a court already rendered and if all Events of Default with respect to the Securities, other than the nonpayment of the principal, premium, if any, or interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall which has become due and payable immediately without further action solely by such declaration acceleration, shall have been cured or noticeshall have been waived. No such rescission shall affect any subsequent default or shall impair any right consequent thereon. Holders of Securities may not enforce the Indenture or the Securities except as provided in the Indenture. The Trustee may require indemnity or security satisfactory to it before it enforces the Indenture or the Securities. Subject to certain limitations, Holders of a majority in aggregate principal amount of the Securities then outstanding Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default.

Appears in 7 contracts

Sources: Fourth Supplemental Indenture (Enterprise Products Partners L P), Second Supplemental Indenture (Enterprise Products Partners L P), Indenture (Enterprise Products Partners L P)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 2530.0% in principal amount of the then outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities Notes shall become due and payable immediately without further action or notice. Holders of Notes may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal ofinterest on, premium, if any, or interest, if any, onthe principal of, any of the Securities Notes held by a non-consenting Holder. The Company Issuer is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company Issuer is required upon within five (5) Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultand what action the Issuer proposes to take with respect thereto.

Appears in 7 contracts

Sources: Indenture (Clear Channel Outdoor Holdings, Inc.), Indenture (Clear Channel Outdoor Holdings, Inc.), Indenture (Clear Channel Outdoor Holdings, Inc.)

Defaults and Remedies. The Events If an Event of Default occurs (other than an Event of Default relating to the Securities are defined in Section 5.01 certain events of bankruptcy, insolvency or reorganization of the Base Indenture. If any Event of Default occurs Company) and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, principal of and accrued but unpaid interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediatelypayable. Notwithstanding the foregoing, in the case of If an Event of Default arising from relating to certain events of bankruptcy bankruptcy, insolvency or insolvencyreorganization of the Company occurs, the principal of and interest on all outstanding the Securities shall become immediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in principal amount of the outstanding Securities may not rescind any such acceleration with respect to the Securities and its consequences. If an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any of the rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee reasonable indemnity or security against any loss, liability or expense. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy with respect to the Indenture or the Securities except as provided unless (i) such Holder has previously given the Trustee notice that an Event of Default is continuing, (ii) Holders of at least 25% in principal amount of the Indenture. Subject outstanding Securities have requested the Trustee in writing to certain limitationspursue the remedy, (iii) such Holders have offered the Trustee reasonable security or indemnity against any loss, liability or expense, (iv) the Trustee has not complied with such request within 60 days after the receipt of the request and the offer of security or indemnity and (v) the Holders of a majority in aggregate principal amount of the then outstanding Securities may direct have not given the Trustee in its exercise of any trust or powera direction inconsistent with such request within such 60-day period. The Trustee may withhold from Holders of Subject to certain restrictions, the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the outstanding Securities then outstanding by notice are given the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may on behalf of the Holders of all of the Securities waive refuse to follow any existing Default and its consequences under direction that conflicts with law or the Indenture except a continuing Default in payment of or that the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company Trustee determines is required to deliver unduly prejudicial to the rights of any other Holder or that would involve the Trustee annually a statement regarding compliance with in personal liability. Prior to taking any action under the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such Default or Event of Defaultaction.

Appears in 7 contracts

Sources: Indenture (Imperial Home Decor Group Holdings I LTD), Indenture (Tritel Finance Inc), Indenture (Ace LTD)

Defaults and Remedies. The Events If an Event of Default occurs (other than an Event of Default relating to the Securities are defined in Section 5.01 certain events of bankruptcy, insolvency or reorganization of either of the Base Indenture. If any Event of Default occurs Issuers) and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, principal of and accrued but unpaid interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediatelypayable. Notwithstanding the foregoing, in the case of If an Event of Default arising from relating to certain events of bankruptcy bankruptcy, insolvency or insolvencyreorganization of either of the Issuers occurs, the principal of and interest on all outstanding the Securities shall become immediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in principal amount of the outstanding Securities may not rescind any such acceleration with respect to the Securities and its consequences. If an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any of the rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee reasonable indemnity or security against any loss, liability or expense and certain other conditions are complied with. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy with respect to the Indenture or the Securities except as provided unless (i) such Holder has previously given the Trustee written notice that an Event of Default is continuing, (ii) Holders of at least 25% in principal amount of the Indenture. Subject outstanding Securities have requested the Trustee in writing to certain limitationspursue the remedy, (iii) such Holders have offered the Trustee reasonable security or indemnity against any loss, liability or expense, (iv) the Trustee has not complied with such request within 60 days after the receipt of the request and the offer of security or indemnity and (v) the Holders of a majority in aggregate principal amount of the then outstanding Securities may direct have not given the Trustee in its exercise of any trust or powera direction inconsistent with such request within such 60-day period. The Trustee may withhold from Holders of Subject to certain restrictions, the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the outstanding Securities then outstanding by notice are given the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may on behalf of the Holders of all of the Securities waive refuse to follow any existing Default and its consequences under direction that conflicts with law or the Indenture except a continuing Default in payment of or that the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company Trustee determines is required to deliver unduly prejudicial to the rights of any other Holder or that would involve the Trustee annually a statement regarding compliance with in personal liability. Prior to taking any action under the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such Default or Event of Defaultaction.

Appears in 6 contracts

Sources: Indenture (Dex Media Inc), Indenture (Dex Media International Inc), Indenture (Dex Media West LLC)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 2525.0% in principal amount of the then outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities Notes shall become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal ofinterest on, premium, if any, or interest, if any, onthe principal of, any of the Securities Notes held by a non-consenting Holder. The Company Issuer is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company Issuer is required upon within five (5) Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultand what action the Issuer proposes to take with respect thereto.

Appears in 6 contracts

Sources: Indenture (Clear Channel Communications Inc), Indenture (Clear Channel Communications Inc), Indenture (Clear Channel Communications Inc)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, interest on, any of the Securities Notes held by a non-consenting Holder. The Company Issuer is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company Issuer is required upon within ten (10) Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultand what action the Issuer proposes to take with respect thereto.

Appears in 5 contracts

Sources: Indenture (Entercom Communications Corp), Indenture (Entercom Communications Corp), Indenture (CBS Radio Inc.)

Defaults and Remedies. The If an Event of Default (other than certain bankruptcy Events of Default relating with respect to the Securities are defined in Section 5.01 Issuer or any of the Base Indenture. If any Event of Default Cable Guarantors) occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of the Securities then outstanding Securities may declare all of the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding the foregoing, immediately in the case of an manner and with the effect provided in the Indenture. If a bankruptcy Event of Default arising from certain events with respect to the Issuer or any of bankruptcy or insolvencythe Cable Guarantors occurs and is continuing, all outstanding the Securities shall become be immediately due and payable immediately in the manner and with the effect provided in the Indenture without further any notice or other action on the part of the Trustee or noticeany Holder. Holders of Securities may not enforce the Indenture Indenture, the Securities or the Securities Cable Guarantees except as provided in the Indenture. Subject The Trustee is not obligated to enforce the Indenture, the Securities or the Cable Guarantees unless it has received indemnity satisfactory to it. The Indenture permits, subject to certain limitationslimitations therein provided, Holders of a majority in aggregate principal amount of the Securities then outstanding Securities may to direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any certain continuing Defaults or Events of Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default.

Appears in 5 contracts

Sources: New Broadband Notes (Mediaone Group Inc), Exhibit (Comcast Corp), Security Agreement (Comcast Corp)

Defaults and Remedies. The Certain events of bankruptcy or insolvency are Events of Default relating that will result in the principal amount of the Securities, together with premium, if any, and accrued and unpaid interest thereon, becoming due and payable immediately upon the occurrence of such Events of Default. If any other Event of Default with respect to the Securities are defined in Section 5.01 of the Base Indenture. If any Event of Default occurs and is continuing, then in every such case the Trustee or the Holders of at least not less than 25% in aggregate principal amount of the Securities then outstanding Securities may declare the principal amount of all the Securities, together with premium, if any, and accrued and unpaid interest thereon, to be due and payable immediately in the manner and with the effect provided in the Indenture. Notwithstanding the preceding sentence, however, if at any time after such a declaration of acceleration has been made, the Holders of a majority in aggregate principal amount of the outstanding Securities, by written notice to the Trustee, may rescind such acceleration and its consequences if the rescission would not conflict with any judgment or decree of a court of competent jurisdiction already rendered and if all existing Events of Default with respect to the Securities have been cured or waived except nonpayment of principal, premium, if any, or interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall that has become due and payable immediately without further action solely by the declaration of acceleration. No such rescission shall affect any subsequent default or noticeshall impair any right consequent thereon. Holders of Securities may not enforce the Indenture or the Securities except as provided in the Indenture. The Trustee may require reasonable indemnity or security satisfactory to it before it enforces the Indenture or the Securities. Subject to certain limitations, Holders of a majority in aggregate principal amount of the Securities then outstanding Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default.

Appears in 5 contracts

Sources: Fifth Supplemental Indenture (EnLink Midstream Partners, LP), Fourth Supplemental Indenture (EnLink Midstream Partners, LP), Third Supplemental Indenture (EnLink Midstream Partners, LP)

Defaults and Remedies. The If an Event of Default (other than certain bankruptcy Events of Default relating with respect to the Securities are defined in Section 5.01 of the Base Indenture. If Issuer or any Event of Default Guarantor) occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of the Securities then outstanding Securities may declare all of the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding the foregoing, immediately in the case of an manner and with the effect provided in the Indenture. If a bankruptcy Event of Default arising from certain events of bankruptcy with respect to the Issuer or insolvencyany Guarantor occurs and is continuing, all outstanding the Securities shall become be immediately due and payable immediately in the manner and with the effect provided in the Indenture without further any notice or other action on the part of the Trustee or noticeany Holder. Holders of Securities may not enforce the Indenture Indenture, the Securities or the Securities Guarantees except as provided in the Indenture. Subject The Trustee is not obligated to enforce the Indenture, the Securities or the Guarantees unless it has received indemnity satisfactory to it. The Indenture permits, subject to certain limitationslimitations therein provided, Holders of a majority in aggregate principal amount of the Securities then outstanding Securities may to direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any certain continuing Defaults or Events of Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines in good faith that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default.

Appears in 4 contracts

Sources: Security Transfer Agreement (NBCUniversal Media, LLC), Security Transfer Agreement (Comcast Cable Communications LLC), Notes Purchase Agreement (Widepoint Corp)

Defaults and Remedies. The Under the Indenture, Events of Default relating include (i) default in payment of the principal amount, or interest (including Additional Interest, if any), in respect of the Securities when the same becomes due and payable subject, in the case of interest, to the Securities are defined grace period and any extension period provided for in Section 5.01 the Indenture; (ii) failure by the Company to comply with its other covenants in the Indenture or the Securities, subject to notice and lapse of time; and (iii) certain events of bankruptcy or insolvency of the Base IndentureCompany. If any an Event of Default occurs and is continuing, the Trustee Trustee, the Special Representative, or the Holders of at least 25% a majority in aggregate principal amount of the then outstanding Securities at the time outstanding, may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain Certain events of bankruptcy or insolvency, all outstanding insolvency are Events of Default which will result in the Securities shall become becoming due and payable immediately without further action or noticeupon the occurrence of such Events of Default. Holders Securityholders may not enforce the Indenture or the Securities except as provided in the Indenture. The Trustee may refuse to enforce the Indenture or the Securities unless it receives reasonable indemnity and security. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then Securities at the time outstanding Securities or the Special Representative may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Securityholders notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or in paying principal and/or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultinterests.

Appears in 4 contracts

Sources: Indenture (Met Ed Capital Trust), Indenture (Pennsylvania Electric Co), Indenture (Metropolitan Edison Co)

Defaults and Remedies. The Events of Default relating include: (a) default for 30 days in the payment when due of interest on the Securities; (b) default in payment when due of principal of or premium, if any, on the Securities; (c) failure by the Company to the Securities are defined in comply with Section 5.01 of the Base Indenture; (d) failure by the Company for 60 days to comply with certain other agreements in this Indenture or the Securities; (e) certain events of bankruptcy or insolvency with respect to the Company or any of its Restricted Subsidiaries that is a Significant Subsidiary; and (f) except as permitted by the Indenture, any applicable Security Guarantee shall be held in any judicial proceeding to be unenforceable or invalid or shall cease for any reason to be in full force and effect or any Guarantor or any Person acting on its behalf shall deny or disaffirm its obligations under such Guarantor’s Security Guarantee. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediatelypayable. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvencyinsolvency involving the Company, all outstanding Securities shall will become due and payable immediately without further action or notice. Holders may not enforce the this Indenture or the Securities except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default or Event of Default (except a Default or Event of Default relating to the payment of principal, premium, if any, principal or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default or Event of Default and its consequences under the this Indenture except a continuing Default or Event of Default in the payment of interest on, or the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting HolderSecurities. The Company is required to deliver to the Trustee annually a statement regarding compliance with the this Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default.

Appears in 4 contracts

Sources: Indenture (Lifepoint Health, Inc.), Indenture (West Virginia Management Services Organization, Inc.), Indenture (West Virginia Management Services Organization, Inc.)

Defaults and Remedies. The Events of Default relating to the Securities are defined in Section 5.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities of a series may declare the principal, principal of and premium, if any, interest and interest, if any, and any other monetary obligations on all the then outstanding Securities of such series to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall become due and payable immediately without further action or notice. Holders may not enforce the Indenture or the Securities except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities may direct the Trustee in its their respective exercise of any trust or power. The Trustee may withhold from Holders of the Securities of any series notice of any continuing Default (except a Default relating to the payment of principal, the principal of or premium, if any, or interest, if any, on the Securities of such series or in the payment or delivery of any consideration due upon conversion or exchange of any Security of such series (if applicable)) if it determines they determine that withholding notice is in their interest. The Holders of not less than a majority in aggregate principal amount of the Securities of any series then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities of such series waive any an existing Default or Event of Default and its consequences under the Indenture hereunder, except a continuing Default or Event of Default in the payment of the principal ofamount, premium, if any, or and any accrued and unpaid interest, if any, onon any Security of such series or, any in the case of the Securities held by of any series that are convertible or exchangeable, in the payment or delivery of any consideration due upon conversion or exchange of the Securities of such series (including in connection with an offer to purchase) provided, however, that the Holders of a non-consenting Holdermajority in aggregate principal amount of the then outstanding Securities of any series may rescind an acceleration and its consequences, including any related payment default that resulted from such acceleration in accordance with Section 5.02 of the Base Indenture. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default.

Appears in 3 contracts

Sources: Supplemental Indenture (Warner Chilcott LTD), Third Supplemental Indenture (Warner Chilcott LTD), Supplemental Indenture (Warner Chilcott LTD)

Defaults and Remedies. The Events If an Event of Default occurs (other than an Event of Default relating to the Securities are defined in Section 5.01 certain events of bankruptcy, insolvency or reorganization of the Base Indenture. If any Event of Default occurs Company) and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principalprincipal of, premiumand accrued but unpaid interest on, if any, interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediatelypayable. Notwithstanding the foregoing, in the case of If an Event of Default arising from relating to certain events of bankruptcy bankruptcy, insolvency or insolvencyreorganization of the Company occurs, the principal of, and interest on, all outstanding the Securities shall become immediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in principal amount of the outstanding Securities may not rescind any such acceleration with respect to the Securities and the consequences of any such acceleration. If an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any of the rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee indemnity or security satisfactory to it in its reasonable discretion against any loss, liability or expense and certain other conditions are complied with. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy with respect to the Indenture or the Securities except as provided unless (i) such Holder has previously given the Trustee notice that an Event of Default is continuing, (ii) Holders of at least 25% in principal amount of the Indenture. Subject outstanding Securities have requested the Trustee in writing to certain limitationspursue the remedy, (iii) such Holders have offered the Trustee security or indemnity satisfactory to it in its reasonable discretion against any loss, liability or expense, (iv) the Trustee has not complied with such request within 60 days after the receipt of the request and the offer of security or indemnity and (v) the Holders of a majority in aggregate principal amount of the then outstanding Securities may direct have not given the Trustee in its exercise of any trust or powera direction inconsistent with such request within such 60-day period. The Trustee may withhold from Holders of Subject to certain restrictions, the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the outstanding Securities then outstanding by notice are given the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may on behalf of the Holders of all of the Securities waive refuse to follow any existing Default and its consequences under direction that conflicts with law or the Indenture except a continuing Default in payment of or that the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company Trustee determines is required to deliver unduly prejudicial to the rights of any other Holder or that would involve the Trustee annually a statement regarding compliance with in personal liability. Prior to taking any action under the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such Default or Event of Defaultaction.

Appears in 2 contracts

Sources: Indenture (Kansas City Southern), Indenture (Kansas City Southern)

Defaults and Remedies. The If an Event of Default (other than certain bankruptcy Events of Default relating with respect to the Securities are defined in Section 5.01 Issuer or any of the Base Indenture. If any Event of Default Guarantors) occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of the Securities then outstanding Securities may declare all of the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding the foregoing, immediately in the case of an manner and with the effect provided in the Indenture. If a bankruptcy Event of Default arising from certain events with respect to the Issuer or any of bankruptcy or insolvencythe Guarantors occurs and is continuing, all outstanding the Securities shall become be immediately due and payable immediately in the manner and with the effect provided in the Indenture without further any notice or other action on the part of the Trustee or noticeany Holder. Holders of Securities may not enforce the Indenture Indenture, the Securities or the Securities Guarantees except as provided in the Indenture. Subject The Trustee is not obligated to enforce the Indenture, the Securities or the Guarantees unless it has received indemnity satisfactory to it. The Indenture permits, subject to certain limitationslimitations therein provided, Holders of a majority in aggregate principal amount of the Securities then outstanding Securities may to direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any certain continuing Defaults or Events of Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default.

Appears in 2 contracts

Sources: Security Transfer Agreement (Comcast Cable Communications LLC), Security Transfer Agreement (Comcast Cable Communications LLC)

Defaults and Remedies. The Events If an Event of Default occurs (other than an Event of Default relating to the Securities are defined in Section 5.01 certain events of the Base Indenture. If bankruptcy, insolvency or reorganization of any Event of Default occurs Issuer) and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, principal of and accrued but unpaid interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediatelypayable. Notwithstanding the foregoing, in the case of If an Event of Default arising from relating to certain events of bankruptcy bankruptcy, insolvency or insolvencyreorganization of any Issuer occurs, the principal of and interest on all outstanding the Securities shall become immediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in principal amount of the outstanding Securities may not rescind any such acceleration with respect to the Securities and its consequences. If an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any of the rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee indemnity or security satisfactory to it against any loss, liability or expense. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy with respect to the Indenture or the Securities except as provided unless (a) such Holder has previously given the Trustee notice that an Event of Default is continuing, (b) Holders of at least 25% in principal amount of the Indenture. Subject to certain limitationsoutstanding Securities have requested in writing that the Trustee pursue the remedy, (c) such Holders have offered the Trustee reasonable security or indemnity against any loss, liability or expense, (d) the Trustee has not complied with such request within 60 days after the receipt of the request and the offer of security or indemnity and (e) the Holders of a majority in aggregate principal amount of the then outstanding Securities have not given the Trustee a direction inconsistent with such request within such 60-day period. Subject to certain restrictions, the Holders of a majority in principal amount of the outstanding Securities may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee in its exercise or of exercising any trust or powerpower conferred on the Trustee. The Trustee, however, may refuse to follow any direction that conflicts with law or the Indenture or that the Trustee may withhold from Holders of determines is unduly prejudicial to the Securities notice rights of any continuing Default (except a Default relating to the payment of principal, premium, if any, other Holder or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to would subject the Trustee may on behalf of the Holders of all of the Securities waive to personal liability. Prior to taking any existing Default and its consequences action under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such Default or Event of Defaultaction.

Appears in 2 contracts

Sources: Indenture (Jones Group Inc), Indenture (JAG FOOTWEAR, ACCESSORIES & RETAIL Corp)

Defaults and Remedies. The Events If an Event of Default occurs (other than an Event of Default relating to the Securities are defined in Section 5.01 certain events of the Base Indenture. If bankruptcy, insolvency or reorganization of any Event of Default occurs Issuer) and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, principal of and accrued but unpaid interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediatelypayable. Notwithstanding the foregoing, in the case of If an Event of Default arising from relating to certain events of bankruptcy bankruptcy, insolvency or insolvencyreorganization of any Issuer occurs, the principal of and interest on all outstanding the Securities shall become immediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in principal amount of the outstanding Securities may not rescind any such acceleration with respect to the Securities and its consequences. If an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any of the rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee reasonable indemnity or security against any loss, liability or expense. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy with respect to the Indenture or the Securities except as provided unless (i) such Holder has previously given the Trustee notice that an Event of Default is continuing, (ii) Holders of at least 25% in principal amount of the Indenture. Subject to certain limitationsoutstanding Securities have requested in writing that the Trustee pursue the remedy, (iii) such Holders have offered the Trustee reasonable security or indemnity against any loss, liability or expense, (iv) the Trustee has not complied with such request within 60 days after the receipt of the request and the offer of security or indemnity and (v) the Holders of a majority in aggregate principal amount of the then outstanding Securities have not given the Trustee a direction inconsistent with such request within such 60-day period. Subject to certain restrictions, the Holders of a majority in principal amount of the outstanding Securities may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee in its exercise or of exercising any trust or powerpower conferred on the Trustee. The Trustee, however, may refuse to follow any direction that conflicts with law or the Indenture or that the Trustee may withhold from Holders of determines is unduly prejudicial to the Securities notice rights of any continuing Default (except a Default relating to the payment of principal, premium, if any, other Holder or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to would subject the Trustee may on behalf of the Holders of all of the Securities waive to personal liability. Prior to taking any existing Default and its consequences action under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such Default or Event of Defaultaction.

Appears in 2 contracts

Sources: Indenture (Jones Apparel Group Inc), Indenture (Jones Apparel Group Inc)

Defaults and Remedies. The Events In the case of Default relating an Event of Default, as defined in the Indenture arising from certain events of bankruptcy or insolvency with respect to the Company or any of its Significant Subsidiaries, all outstanding Securities are defined in Section 5.01 of the Base Indenturewill become due and payable immediately and automatically without further action or notice. If any other Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding Holders of the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall become due and payable immediately without further action or notice. Holders may not enforce the Indenture or the Securities except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default or Event of Default (except a Default or Event of Default relating to the payment of principal, premiumprincipal or interest or Liquidated Damages, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may may, on behalf of the Holders of all of the Securities Securities, waive any existing Default or Event of Default and its consequences under the Indenture except a continuing Default or Event of Default in the payment of the principal of, premium, if any, interest or interestLiquidated Damages, if any, on, or the principal of, the Securities. [In the case of any Event of Default occurring by reason of any willful action or inaction taken or not taken by the Company or on their behalf with the intention of avoiding payment of the premium that the Company would have had to pay if it then had elected to redeem the Securities held by a non-consenting Holder. The Company is required to deliver pursuant to the Trustee annually a statement regarding compliance with optional redemption provisions of the Indenture, an A1-8 equivalent premium shall also become and be immediately due and payable to the extent permitted by law upon the acceleration of the Securities. If an Event of Default occurs during any time that the Securities or Guarantees are outstanding, by reason of any willful action (or inaction) taken (or not taken) by the Company is required upon becoming aware or on its behalf with the intention of any Default or Event avoiding the prohibition on redemption of Defaultthe Securities, to deliver then the premium specified in the Indenture shall also become immediately due and payable to the Trustee a statement specifying such Default or Event extent permitted by law upon the acceleration of Defaultthe Securities.]

Appears in 2 contracts

Sources: Indenture (Cihc Inc), Second Senior Indenture (Cihc Inc)

Defaults and Remedies. The Events If an Event of Default occurs (other than an Event of Default relating to the Securities are defined in Section 5.01 certain events of bankruptcy, insolvency or reorganization of the Base Indenture. If any Event of Default occurs Company) and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, principal of and accrued but unpaid interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediatelypayable. Notwithstanding the foregoing, in the case of If an Event of Default arising from relating to certain events of bankruptcy bankruptcy, insolvency or insolvencyreorganization of the Company occurs, the principal of and interest on all outstanding the Securities shall become immediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in principal amount of the outstanding Securities may not rescind any such acceleration with respect to the Securities and its consequences. If an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any of the rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee reasonable indemnity or security against any loss, liability or expense and certain other conditions are complied with. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy with respect to the Indenture or the Securities except as provided unless (i) such Holder has previously given the Trustee notice that an Event of Default is continuing, (ii) Holders of at least 25% in principal amount of the Indenture. Subject outstanding Securities have requested the Trustee in writing to certain limitationspursue the remedy, (iii) such Holders have offered the Trustee reasonable security or indemnity against any loss, liability or expense, (iv) the Trustee has not complied with such request within 60 days after the receipt of the request and the offer of security or indemnity and (v) the Holders of a majority in aggregate principal amount of the then outstanding Securities may direct have not given the Trustee in its exercise of any trust or powera direction inconsistent with such request within such 60-day period. The Trustee may withhold from Holders of Subject to certain restrictions, the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the outstanding Securities then outstanding by notice are given the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may on behalf of the Holders of all of the Securities waive refuse to follow any existing Default and its consequences under direction that conflicts with law or the Indenture except a continuing Default in payment of or that the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company Trustee determines is required to deliver unduly prejudicial to the rights of any other Holder or that would involve the Trustee annually a statement regarding compliance with in personal liability. Prior to taking any action under the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying shall be entitled to indemnification or security reasonably satisfactory to it against all losses and expenses caused by taking or not taking such Default or Event of Defaultaction.

Appears in 2 contracts

Sources: Indenture (Pierson Industries Inc), Indenture (Uniplast Industries Co)

Defaults and Remedies. The Events If an Event of Default occurs (other than an Event of Default relating to the Securities are defined in Section 5.01 certain events of the Base Indenture. If bankruptcy, insolvency or reorganization of any Event of Default occurs Issuer) and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, principal of and accrued but unpaid interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediatelypayable. Notwithstanding the foregoing, in the case of If an Event of Default arising from relating to certain events of bankruptcy bankruptcy, insolvency or insolvencyreorganization of any Issuer occurs, the principal of and interest on all outstanding the Securities shall become immediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in principal amount of the outstanding Securities may not rescind any such acceleration with respect to the Securities and its consequences. If an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any of the rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee indemnity or security satisfactory to it against any loss, liability or expense. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy with respect to the Indenture or the Securities except as provided unless (i) such Holder has previously given the Trustee notice that an Event of Default is continuing, (ii) Holders of at least 25% in principal amount of the Indenture. Subject to certain limitationsoutstanding Securities have requested in writing that the Trustee pursue the remedy, (iii) such Holders have offered the Trustee reasonable security or indemnity against any loss, liability or expense, (iv) the Trustee has not complied with such request within 60 days after the receipt of the request and the offer of security or indemnity and (v) the Holders of a majority in aggregate principal amount of the then outstanding Securities have not given the Trustee a direction inconsistent with such request within such 60-day period. Subject to certain restrictions, the Holders of a majority in principal amount of the outstanding Securities may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee in its exercise or of exercising any trust or powerpower conferred on the Trustee. The Trustee, however, may refuse to follow any direction that conflicts with law or the Indenture or that the Trustee may withhold from Holders of determines is unduly prejudicial to the Securities notice rights of any continuing Default (except a Default relating to the payment of principal, premium, if any, other Holder or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to would subject the Trustee may on behalf of the Holders of all of the Securities waive to personal liability. Prior to taking any existing Default and its consequences action under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such Default or Event of Defaultaction.

Appears in 2 contracts

Sources: Indenture (Jones Apparel Group Inc), Indenture (Jones Apparel Group Inc)

Defaults and Remedies. The Events of Default are set forth in the Indenture. Event of Default (other than an Event of Default relating to certain bankruptcy events specified in the Securities are defined in Section 5.01 of the Base Indenture. If any Event of Default ) occurs and is continuing, the Trustee by notice to the Company and the Issuers, or the Holders of at least 25% in principal amount of the then outstanding Securities may by notice to the Company and the Issuers and the Trustee, may, and the Trustee at the request of such Holders shall, declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding the foregoing, in the case of If an Event of Default arising from relating to certain bankruptcy events of bankruptcy or insolvencyspecified in the Indenture occurs and is continuing, the principal of, premium, if any, and accrued and unpaid interest (including Additional Interest) on all outstanding the Securities shall will become and be immediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Holders. Holders Securityholders may not enforce the Indenture or the Securities except as provided in the Indenture. Subject to the provisions of the Indenture relating to the duties of the Trustee if an Event of Default exists, the Trustee may refuse to enforce the Indenture or the Securities unless it receives indemnity or security satisfactory to it. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Securityholders notice of any continuing Default or Event of Default (except a Default relating to the or Event of Default in payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default.

Appears in 2 contracts

Sources: Indenture (Alta Mesa Holdings, LP), Indenture (Alta Mesa Energy LLC)

Defaults and Remedies. The Events of Default relating to the Securities are defined in Section 5.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 2530% in principal amount of the then outstanding Securities may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall become due and payable immediately without further action or notice. Holders may not enforce the Indenture or the Securities except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default.

Appears in 2 contracts

Sources: Indenture (Western Digital Corp), Indenture (Western Digital Technologies Inc)

Defaults and Remedies. The Events of Default relating to the Securities are defined in Section 5.01 of the Base Indenture. If any an Event of Default occurs and is continuingcontinuing under the Indenture, the Trustee or the Holders of at least 25% in aggregate principal amount of the Securities then outstanding Securities may declare all amounts owing under the principalSecurities to be due and payable immediately in the manner and with the effect provided in the Indenture. If an Event of Default results from bankruptcy, insolvency or reorganization involving the Company or any Subsidiary Guarantor, all outstanding Securities shall become immediately due and payable without any further action or notice. In certain cases, the Holders of a majority in aggregate principal amount of the Securities then outstanding may waive any past Defaults, except a Default in the payment of principal of, premium, if any, and interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediatelySecurities. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall become due and payable immediately without further action or notice. The Holders may not enforce the provisions of the Indenture or the Securities except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the Securities then outstanding Securities may direct the Trustee in its exercise of any trust or power; provided, however, that such direction does not conflict with the terms of the Indenture. The Trustee may withhold from the Holders of the Securities notice of any continuing Default or Event of Default (except a any Default relating to the payment or Event of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest on the Securities if the Trustee determines that withholding such notice is in the Holders’ interest, if any, on, . The Trustee is not obligated to exercise any of the Securities held rights or powers vested in it by a non-consenting Holder. The Company is required the Indenture at the request or direction of any of the Holders pursuant to deliver the Indenture, unless such Holders shall have offered to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default security or Event of Default, to deliver indemnity satisfactory to the Trustee a statement specifying against the costs, expenses and liabilities which might be incurred by it in compliance with such Default request or Event of Defaultdirection.

Appears in 2 contracts

Sources: Indenture (United Refining Co), Indenture (United Refining Co)

Defaults and Remedies. The Events of Default relating to the Securities are defined in Section 5.01 of the Base Indenture. If any an Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount at maturity of the Securities then outstanding Securities outstanding, subject to certain limitations, may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities to be immediately due and payable immediatelypayable. Notwithstanding the foregoing, in the case of If an Event of Default arising from relating to certain events of bankruptcy bankruptcy, insolvency or insolvencyreorganization of the Company occurs, the principal of and interest on all outstanding the Securities shall become immediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Holders and if such Event of Default occurs prior to the earlier of (i) the Cash Election Date and (ii) August 15, 2009, the Company will thereafter be obligated to pay cash interest on each subsequent Interest Payment Date and the Securities will cease to accrete. Under certain circumstances, the Holders of a majority in principal amount at maturity of the outstanding Securities may rescind any such acceleration with respect to the Securities and its consequences. Holders of Securities may not enforce the Indenture or the Securities except as provided in the Indenture. The Trustee may refuse to enforce the Indenture or the Securities unless it receives reasonable indemnity or security. Subject to certain limitations, Holders of a majority in aggregate principal amount at maturity of the Securities then outstanding Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of power under the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interestIndenture. The Holders of a majority in aggregate principal amount at maturity of the Securities then outstanding outstanding, by written notice to the Trustee Company and the Trustee, may on behalf rescind any declaration of the Holders of all of the Securities waive any existing Default acceleration and its consequences under if the Indenture rescission would not conflict with any judgment or decree, and if all existing Events of Default have been cured or waived except a continuing Default in payment nonpayment of principal or interest that has become due solely because of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultacceleration.

Appears in 2 contracts

Sources: Indenture (Marquee Holdings Inc.), Indenture (Amc Entertainment Inc)

Defaults and Remedies. The Events of Default relating to are set forth in the Securities are defined in Section 5.01 of the Base Indenture. If any Subject to certain limitations in the Indenture, if an Event of Default (other than an Event of Default specified in Section 6.1(a)(ix) or (x) of the Indenture with respect to an Issuer) occurs and is continuing, the Trustee or then the Holders of at least not less than 25% in aggregate principal amount at maturity of the then outstanding Securities may may, and the Trustee upon the request of the Holders of not less than 25% in aggregate principal amount at maturity of the outstanding Securities shall, declare the principal, premium, if any, interest Default Amount of and any other monetary obligations accrued interest on all of the then outstanding Securities to be due and payable immediately. Notwithstanding the foregoing, in the case of If an Event of Default arising from certain events specified in Section 6.1(a)(ix) or (x) of bankruptcy or insolvencythe Indenture occurs with respect to an Issuer, all outstanding Securities the Default Amount shall ipso facto become and be immediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Holder. Holders may not enforce the Indenture or Indenture, the Securities or any Subsidiary Guarantee except as provided in the Indenture. The Trustee may require indemnity satisfactory to it before it enforces the Indenture, the Securities or any Subsidiary Guarantee. Subject to certain limitations, Holders of a majority in aggregate principal amount at maturity of the then outstanding Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default default (except a Default relating to the default in payment of principalthe Default Amount, premium, if any, principal or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultinterests.

Appears in 2 contracts

Sources: Indenture (Sprint Spectrum L P), Indenture (Sprint Spectrum Finance Corp)

Defaults and Remedies. The Events In the case of Default relating an Event of Default, as defined in the Indenture arising from certain events of bankruptcy or insolvency with respect to the Company or any of its Significant Subsidiaries, all outstanding Securities are defined in Section 5.01 of the Base Indenturewill become due and payable immediately and automatically without further action or notice. If any other Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding Holders of the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall become due and payable immediately without further action or notice. Holders may not enforce the Indenture or the Securities except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default or Event of Default (except a Default or Event of Default relating to the payment of principal, premiumprincipal or interest or Liquidated Damages, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may may, on behalf of the Holders of all of the Securities Securities, waive any existing Default or Event of Default and its consequences under the Indenture except a continuing Default or Event of Default in the payment of the principal of, premium, if any, interest or interestLiquidated Damages, if any, on, or the principal of, the Securities. [In the case of any Event of Default occurring by reason of any willful action or inaction taken or not taken by the Company or on their behalf with the intention of avoiding payment of the premium that the Company would have had to pay if it then had elected to redeem the Securities held by a non-consenting Holder. The Company is required to deliver pursuant to the Trustee annually a statement regarding compliance with optional redemption provisions of the Indenture, an equivalent premium shall also become and be immediately due and payable to the extent permitted by law upon the acceleration of the Securities. If an Event of Default occurs during any time that the Securities or Guarantees are outstanding, by reason of any willful action (or inaction) taken (or not taken) by the Company is required upon becoming aware or on its behalf with the intention of any Default or Event avoiding the prohibition on redemption of Defaultthe Securities, to deliver then the premium specified in the Indenture shall also become immediately due and payable to the Trustee a statement specifying such Default or Event extent permitted by law upon the acceleration of Defaultthe Securities.]

Appears in 2 contracts

Sources: Indenture (Cihc Inc), Second Senior Indenture (Cihc Inc)

Defaults and Remedies. The Events of Default relating to are set forth in the Securities are defined in Section 5.01 of the Base Indenture. If any Subject to certain limitations in the Indenture, if an Event of Default (other than an Event of Default specified in Section 6.1(d) or (e) of the Indenture with respect to the Company) occurs and is continuing, then the Trustee or the Holders holders of at least not less than 25% in aggregate principal amount of the then outstanding Securities may Series A Convertible Debentures may, or the Trustee may, declare the principalprincipal of, premium, if any, interest and any other monetary obligations on all the then outstanding Securities plus accrued interest, if any, to be due and payable immediately. Notwithstanding the foregoing, in the case of If an Event of Default arising from certain events specified in Section 6.1(d) or (e) of bankruptcy or insolvencythe Indenture with respect to the Company occurs and is continuing, the principal of, premium, if any, and accrued interest on all outstanding Securities of the Series A Convertible Debentures shall ipso facto become and be immediately due and payable immediately subject to the prior payment in full of Senior and Subordinated Debt without further action any declaration or noticeother act on the part of the Trustee or any Holder. Holders Series A Convertible Debentureholders may not enforce the Indenture or the Securities Series A Convertible Debentures except as provided in the Indenture. The Trustee may require indemnity reasonably satisfactory to it before it enforces the Indenture or the Series A Convertible Debentures. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Series A Convertible Debentures may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Series A Convertible Debentureholders notice of any continuing Default default (except a Default relating to the default in payment of principal, premium, if any, principal or interestinterest or a failure to comply with Article V of the Indenture) if it determines in good faith that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holderinterests. The Company is required to deliver must furnish an annual compliance certificate to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of DefaultTrustee.

Appears in 1 contract

Sources: First Supplemental Indenture (Aes Corporation)

Defaults and Remedies. The Events of Default relating to the Securities are defined in Section 5.01 of the Base Indenture. If any an Event of Default occurs and is continuing, the Trustee Trustee, or the Holders of at least 25% in principal amount aggregate Original Principal Amount of the then outstanding Securities at the time outstanding, may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain Certain events of bankruptcy or insolvency, all outstanding insolvency are Events of Default which will result in the Securities shall become becoming due and payable immediately without further action or noticeupon the occurrence of such Events of Default. Holders may not enforce the Indenture or the Securities except as provided in the Indenture. The Trustee may refuse to enforce the Indenture or the Securities unless it receives reasonable indemnity or security. Subject to certain limitations, Holders of a majority in aggregate principal amount Original Principal Amount of the then Securities at the time outstanding Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default (except a Default relating to the in payment of principal, premium, if any, or interest) on any Security if it determines that withholding notice is in their interestinterests. The Holders of a majority in aggregate principal amount of Trustee Dealings with the Securities then outstanding Company. Subject to certain limitations imposed by notice to the TIA, the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, in its individual or any other capacity, may become the owner or pledgee of Securities and may otherwise deal with and collect obligations owed to it by the Company is required upon becoming aware or its Affiliates and may otherwise deal with the Company or its Affiliates with the same rights it would have if it were not Trustee. No Recourse Against Others. A director, officer, employee or stockholder, as such, of the Company shall not have any Default liability for any obligations of the Company under the Securities or Event the Indenture or for any claim based on, in respect of Defaultor by reason of such obligations or their creation. By accepting a Security, to deliver to each Holder waives and releases all such liability. The waiver and release are part of the Trustee a statement specifying such Default or Event consideration for the issue of Defaultthe Securities.

Appears in 1 contract

Sources: Indenture (Lockheed Martin Corp)

Defaults and Remedies. The Events If an Event of Default occurs (other than an Event of Default relating to the Securities are defined in Section 5.01 certain events of bankruptcy, insolvency or reorganization of the Base Indenture. If any Event of Default occurs Company or the Issuer) and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, principal of and accrued but unpaid interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediatelypayable. Notwithstanding the foregoing, in the case of If an Event of Default arising from relating to certain events of bankruptcy bankruptcy, insolvency or insolvencyreorganization of the Company or the Issuer occurs, the principal of and interest on all outstanding the Securities shall become immediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in principal amount of the outstanding Securities may not rescind any such acceleration with respect to the Securities and its consequences. If an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any of the rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee reasonable indemnity or security against any loss, liability or expense and certain other conditions are complied with. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy with respect to the Indenture or the Securities except as provided in unless (i) such Holder has previously given the Indenture. Subject to certain limitationsTrustee notice that an Event of Default is continuing, (ii) Holders of a majority at least 25% in aggregate principal amount of the then outstanding Securities may direct have requested the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of writing to pursue the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default.remedy,

Appears in 1 contract

Sources: Indenture (Millennium Chemicals Inc)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities Notes shall become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or or, without duplication, interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default or and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, interest on, any of the Securities Notes held by a non-consenting Holder. The Company Issuer is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company Issuer is required upon within five (5) Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default and what action the Issuer is taking or Event of Defaultproposes to take with respect thereto.

Appears in 1 contract

Sources: Indenture (American Media Inc)

Defaults and Remedies. The Events If an Event of Default with respect to the Notes occurs and is continuing (other than an Event of Default relating to the Securities are defined in Section 5.01 of the Base Indenture. If any Event of Default occurs certain bankruptcy and is continuingsimilar matters), the Trustee or the Holders of at least 25% in principal amount of the Notes then outstanding Securities may declare the principalprincipal amount of, premiumand accrued and unpaid interest on, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of If an Event of Default arising from relating to certain events of bankruptcy or insolvencyand similar matters occurs, the principal amount of, and accrued and unpaid interest on, all outstanding Securities the Notes shall become and be immediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Holder. Holders of Notes may not enforce the Indenture or the Securities Notes except as provided in the Indenture. Subject to the terms of the Indenture, the Trustee is not obligated to exercise any of its rights or powers under the Indenture unless the Holders have offered security or indemnity satisfactory to it. The Indenture permits, subject to certain limitationslimitations therein provided, Holders of a majority in aggregate principal amount of the Notes then outstanding Securities may to direct the Trustee in its exercise of any trust or powerpower conferred on the Trustee with respect to the Notes. The Trustee may withhold from Holders of the Securities Notes notice of any continuing Default with respect to the Notes (except a Default relating to the in payment of principal, premium, if any, or interestaccrued and unpaid interest with respect to the Notes) in accordance with the provisions of the Indenture if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount the interest of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of DefaultHolders.

Appears in 1 contract

Sources: Indenture (United Air Lines Inc)

Defaults and Remedies. The Events If an Event of Default (other than an Event of Default relating to certain events of bankruptcy, insolvency or reorganization with respect to the Securities are defined in Section 5.01 of the Base Indenture. If any Event of Default Issuer) occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may by notice to the Issuer may, and if such notice is given by the Holders such notice shall be given to the Issuer and the Trustee, declare that the principalprincipal of, and the interest and premium, if any, interest and any other monetary obligations on on, all the then outstanding Securities to is due and payable. Upon such a declaration, such principal shall be due and payable immediately. Notwithstanding the foregoing, in the case of If an Event of Default arising from relating to certain events of bankruptcy bankruptcy, insolvency or insolvencyreorganization with respect to the Issuer occurs, the principal of, and the premium, if any, on, all outstanding the Securities shall ipso facto become and be immediately due and payable immediately payable, without further action any declaration or noticeother act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in principal amount of the Securities may not rescind any such acceleration with respect to the Securities and its consequences. Except to enforce the right to receive payment of principal or interest or premium (if any) when due, no Holder may pursue any remedy with respect to the Indenture or the Securities except as provided in unless (i) such Holder gives the Indenture. Subject to certain limitationsTrustee written notice stating that an Event of Default is continuing, (ii) the Holders of a majority at least 25% in aggregate principal amount of the then outstanding Securities may direct make a written request to the Trustee in its exercise of to pursue the remedy, (iii) such Holder or Holders offer to the Trustee security or indemnity satisfactory to it against any trust loss, liability or power. The expense, (iv) the Trustee may withhold from Holders does not comply with such request within 60 days after the receipt of the Securities notice request and the offer of any continuing Default security or indemnity and (except a Default relating to v) the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the then outstanding Securities do not give the Trustee a direction inconsistent with such request during such 60-day period. Subject to certain restrictions set forth in the Indenture, the Holders of a majority in principal amount of the Securities then outstanding by notice may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may on behalf of the Holders of all of the Securities waive refuse to follow any existing Default and its consequences under direction that conflicts with law or the Indenture except a continuing Default in payment of the principal ofor, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required subject to deliver to the Trustee annually a statement regarding compliance with the Indenture, and that the Company Trustee determines is required upon becoming aware unduly prejudicial to the rights of any Default other Holder or Event of Default, to deliver to that would involve the Trustee a statement specifying in personal liability. Prior to taking any action under the Indenture, the Trustee shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such Default or Event of Defaultaction.

Appears in 1 contract

Sources: Indenture (Sorrento Therapeutics, Inc.)

Defaults and Remedies. The Events of Default relating to are set forth in the Securities are defined in Section 5.01 of the Base Indenture. If any Subject to certain limitations in the Indenture, if an Event of Default (other than an Event of Default specified in Section 6.1(d) or (e) of the Indenture with respect to the Company) occurs and is continuing, then the Trustee or the Holders holders of at least not less than 25% in aggregate principal amount of the then outstanding Securities may Series A Convertible Debentures may, or the Trustee may, declare the principalprincipal of, premium, if any, interest and any other monetary obligations on all the then outstanding Securities plus accrued interest, if any, to be due and payable immediately. Notwithstanding the foregoing, in the case of If an Event of Default arising from certain events specified in Section 6.1(d) or (e) of bankruptcy or insolvencythe Indenture with respect to the Company occurs and is continuing, the principal of, premium, if any, and accrued interest on all outstanding Securities of the Series A Convertible Debentures shall ipso facto become and be immediately due and payable immediately subject to the prior payment in full of [Senior Indebtedness] without further action any declaration or noticeother act on the part of the Trustee or any Holder. Holders Series A Convertible Debentureholders may not enforce the Indenture or the Securities Series A Convertible Debentures except as provided in the Indenture. The Trustee may require indemnity rea- sonably satisfactory to it before it enforces the Indenture or the Series A Convertible Debentures. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Series A Convertible Debentures may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Series A Convertible Debentureholders notice of any continuing Default default (except a Default relating to the default in payment of principal, premium, if any, principal or interestinterest or a failure to comply with Article V of the Indenture) if it determines in good faith that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holderinterests. The Company is required to deliver must furnish an annual compliance certificate to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of DefaultTrustee.

Appears in 1 contract

Sources: First Supplemental Indenture (Aes Corporation)

Defaults and Remedies. The Under the Indenture, Events of Default relating to the Securities are defined include, among others,(i) default in Section 5.01 payment of the Base Principal Amount, Issue Price, accrued Original Issue Discount, Redemption Price, Change in Control Purchase Price, Asset Sale Offer Price or any other payment required to be made under the Indenture, when the same becomes due and payable; (ii) failure by the Company or the Guarantor to comply with other agreements in the Indenture or the Securities, subject to notice and lapse of time; and (iii) certain events of bankruptcy or insolvency. If any an Event of Default occurs and is continuing, the Trustee Trustee, or the Holders of at least 25% in principal amount aggregate Principal Amount of the then outstanding Securities at the time outstanding, may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain Certain events of bankruptcy or insolvency, all outstanding insolvency are Events of Default which will result in the Securities shall become becoming due and payable immediately without further action or noticeupon the occurrence of such Events of Default. Holders of Securities may not enforce the Indenture or the Securities except as provided in the Indenture. The Trustee may refuse to enforce the Indenture or the Securities unless it receives reasonable indemnity or security. Subject to certain limitations, Holders of a majority 25% in aggregate principal amount Principal Amount of the then Securities at the time outstanding Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities Securityholders notice of any continuing Default (except a Default relating to the in payment of principal, premium, if any, or interestamounts specified in clause (i) above) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultinterests.

Appears in 1 contract

Sources: Supplemental Indenture (Triton Energy Corp)

Defaults and Remedies. The Events If an Event of Default occurs (other than an Event of Default relating to the Securities are defined in Section 5.01 certain events of bankruptcy, insolvency or reorganization of the Base Indenture. If any Event of Default occurs Company) and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, principal of and accrued but unpaid interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediatelypayable. Notwithstanding the foregoing, in the case of If an Event of Default arising from relating to certain events of bankruptcy bankruptcy, insolvency or insolvencyreorganization of the Company occurs, the principal of and interest on all outstanding the Securities shall become immediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in principal amount of the outstanding Securities may not rescind any such acceleration with respect to the Securities and its consequences. If an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any of the rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee indemnity or security satisfactory to it in its reasonable discretion against any loss, liability or expense and certain other conditions are complied with. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy with respect to the Indenture or the Securities except as provided unless (i) such Holder has previously given the Trustee notice that an Event of Default is continuing, (ii) Holders of at least 25% in principal amount of the Indenture. Subject outstanding Securities have requested the Trustee in writing to certain limitationspursue the remedy, (iii) such Holders have offered the Trustee security or indemnity satisfactory to it in its reasonable discretion against any loss, liability or expense, (iv) the Trustee has not complied with such request within 60 days after the receipt of the request and the offer of security or indemnity and (v) the Holders of a majority in aggregate principal amount of the then outstanding Securities may direct have not given the Trustee in its exercise of any trust or powera direction inconsistent with such request within such 60-day period. The Trustee may withhold from Holders of Subject to certain restrictions, the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the outstanding Securities then outstanding by notice are given the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may on behalf of the Holders of all of the Securities waive refuse to follow any existing Default and its consequences under direction that conflicts with law or the Indenture except a continuing Default in payment of or that the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company Trustee determines is required to deliver unduly prejudicial to the rights of any other Holder or that would involve the Trustee annually a statement regarding compliance with in personal liability. Prior to taking any action under the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such Default or Event of Defaultaction.

Appears in 1 contract

Sources: Indenture (Kansas City Southern Industries Inc)

Defaults and Remedies. The Events If an Event of Default occurs (other than an Event of Default relating to the Securities are defined in Section 5.01 certain events of bankruptcy, insolvency or reorganization of either of the Base Indenture. If any Event of Default occurs Issuers) and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, principal of and accrued but unpaid interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediatelypayable. Notwithstanding the foregoing, in the case of If an Event of Default arising from relating to certain events of bankruptcy bankruptcy, insolvency or insolvencyreorganization of either of the Issuers occurs, the principal of and interest on all outstanding the Securities shall become immediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in principal amount of the outstanding Securities may not rescind any such acceleration with respect to the Securities and its consequences. 125 If an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any of the rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee reasonable indemnity or security against any loss, liability or expense and certain other conditions are complied with. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy with respect to the Indenture or the Securities except as provided unless (i) such Holder has previously given the Trustee notice that an Event of Default is continuing, (ii) Holders of at least 25% in principal amount of the Indenture. Subject outstanding Securities have requested the Trustee in writing to certain limitationspursue the remedy, (iii) such Holders have offered the Trustee reasonable security or indemnity against any loss, liability or expense, (iv) the Trustee has not complied with such request within 60 days after the receipt of the request and the offer of security or indemnity and (v) the Holders of a majority in aggregate principal amount of the then outstanding Securities may direct have not given the Trustee in its exercise of any trust or powera direction inconsistent with such request within such 60-day period. The Trustee may withhold from Holders of Subject to certain restrictions, the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the outstanding Securities then outstanding by notice are given the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may on behalf of the Holders of all of the Securities waive refuse to follow any existing Default and its consequences under direction that conflicts with law or the Indenture except a continuing Default in payment of or that the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company Trustee determines is required to deliver unduly prejudicial to the rights of any other Holder or that would involve the Trustee annually a statement regarding compliance with in personal liability. Prior to taking any action under the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such Default or Event of Defaultaction.

Appears in 1 contract

Sources: Indenture (Donjoy LLC)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the Notes then outstanding Securities outstanding, by written notice to the Company (and to the Trustee if such notice is given by the Holders), may declare the principal, premium, if any, and accrued interest and any other monetary obligations on all the then outstanding Securities Notes to be immediately due and payable immediatelypayable. Notwithstanding the foregoingUpon a declaration of acceleration, in the case of such principal of, premium, if any, and accrued interest shall be immediately due and payable. If an Event of Default arising from certain events specified in clause or of bankruptcy or insolvencyof the Indenture occurs with respect to the Company, all the principal of, premium, if any, and accrued interest on the Notes then-outstanding Securities shall automatically become and be immediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Holder. Holders may not enforce the Indenture Indenture, the Notes or the Securities Subsidiary Guarantees except as provided in the Indenture. Subject to certain limitations, the Holders of at least a majority in aggregate principal amount of the then outstanding Securities Notes may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee in its exercise of or exercising any trust or powerpower conferred on the Trustee. The Trustee may withhold refuse to follow any direction that conflicts with law or the Indenture, that may involve the Trustee in personal liability, or that the Trustee determines in good faith may be unduly prejudicial to the rights of Holders of Notes not joining in the giving of such direction and may take any other action it deems proper that is not inconsistent with any such direction received from Holders of Notes. The Trustee shall, within 90 days of the Securities occurrence of a default, give to the Holders of the Notes notice of any continuing Default (all uncured defaults known to it, but the Trustee may withhold such notice if it, in good faith, determines that the withholding of such notice is in the best interest of such Holders, except in the case of a Default relating to default in the payment of principal, premium, the principal of or interest or Additional Interest (if any, or interest) if it determines that withholding notice is in their intereston any of the Notes. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding outstanding, by written notice to the Trustee may Trustee, may, on behalf of the Holders of all of the Securities Notes, waive any existing all past Defaults or Events of Default and rescind and annul a declaration of acceleration and its consequences under if (x) all existing Events of Default, other than the Indenture except a continuing Default in payment nonpayment of the principal of, premium, if any, and interest on the Notes that have become due solely by such declaration of acceleration, have been cured or interestwaived and (y) the rescission would not conflict with any judgment or decree of a court of competent jurisdiction. Upon any such waiver, if anysuch Default or Event of Default shall cease to exist, on, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of the Securities held by a non-consenting HolderIndenture; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. The Company and each Subsidiary Guarantor (to the extent that such Subsidiary Guarantor is so required under the Trust Indenture Act) is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon as soon as reasonably possible and in any event within 30 days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultand what action the Company proposes to take with respect thereto.

Appears in 1 contract

Sources: Indenture (Oppenheimer Holdings Inc)

Defaults and Remedies. The Events If an Event of Default relating with respect to the Securities are defined in Section 5.01 of a series issued pursuant to the Base Indenture. If any Event of Default First Supplemental Indenture occurs and is continuingcontinuing (other than certain events of bankruptcy, insolvency or reorganization of the Company), the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall become due and payable immediately without further action or notice. Holders may not enforce the Indenture or the Securities except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities of such series then outstanding outstanding, by notice in writing to the Company (and to the Trustee if notice is given by such Holders), may on behalf of declare the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the unpaid principal of, premium, if any, or and accrued interest, if any, ondue and payable immediately. In the case of certain events of bankruptcy, insolvency or reorganization of the Company, the principal and accrued and unpaid interest, if any, on all outstanding Securities will become and be immediately due and payable. Subject to the terms of the Indenture, if an Event of Default under the Indenture shall occur and be continuing, the Trustee will be under no obligation to exercise any of its rights or powers under the Indenture at the request or direction of any of the Securities held by a non-consenting Holder. The Company is required to deliver to Holders, unless such Holders have offered the Trustee annually a statement regarding compliance with indemnity satisfactory to it. Upon satisfaction of certain conditions set forth in the Indenture, and the Company is required upon becoming aware Holders of any Default or Event a majority in principal amount of Default, to deliver the outstanding Securities of a series issued pursuant to the Trustee a statement specifying First Supplemental Indenture will have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the Securities of such Default or Event of Defaultseries.

Appears in 1 contract

Sources: First Supplemental Indenture (ServiceNow, Inc.)

Defaults and Remedies. The Events of Default relating to the Securities Notes are defined in Section 5.01 6.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture Indenture, the Notes or the Securities Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities Notes waive any existing Default or and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, interest on, any of the Securities Notes held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon within five (5) Business Days after becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Defaultand what action the Company proposes to take with respect thereto.

Appears in 1 contract

Sources: Indenture (Brightstar Corp.)

Defaults and Remedies. The Securities have the Events of Default relating to the Securities are defined as set forth in Section 5.01 6.1 of the Base Indenture. If any an Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount aggregate Principal Amount of the then outstanding Securities Securities, subject to certain limitations, may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain Certain events of bankruptcy or insolvency, all outstanding insolvency are Events of Default and shall result in the Securities shall become being due and payable immediately without further action or noticeupon the occurrence of such Events of Default. Holders of Securities may not enforce the Indenture or the Securities except as provided in the Indenture. The Trustee may refuse to enforce the Indenture or the Securities unless it receives reasonable indemnity or security. Subject to certain limitations, Holders of a majority in aggregate principal amount Principal Amount of the then outstanding Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount Principal Amount of the Securities then outstanding Securities, by written notice to the Trustee Trustee, may on behalf of the Holders of all of the Securities waive any existing Default rescind an acceleration and its consequences under if the Indenture rescission would not conflict with any judgment or decree and if all existing Events of Default (except a continuing Default in payment nonpayment of principal or interest that has become due solely because of the principal of, premium, if any, acceleration) have been cured or interest, if any, on, any waived. Except in the case of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default default or Event of DefaultDefault in the payment of any amount with respect to any Security, to deliver to the Trustee a statement specifying shall be protected in withholding notice of such Default default or Event of DefaultDefault from the Holders, if the Trustee in good faith determines that the withholding of such notice is in the interests of the Holders. The above description of Events of Default and remedies is qualified by reference, and subject in its entirety, to the more complete description thereof contained in the Indenture.

Appears in 1 contract

Sources: Indenture (Piedmont Management Co Inc)

Defaults and Remedies. The Events of Default relating to the Securities are defined in Section 5.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities of a series may declare the principal, principal of and premium, if any, interest and interest, if any, and any other monetary obligations on all the then outstanding Securities of such series to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall become due and payable immediately without further action or notice. Holders may not enforce the Indenture or the Securities except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities may direct the Trustee in its their respective exercise of any trust or power. The Trustee may withhold from Holders of the Securities of any series notice of any continuing Default (except a Default relating to the payment of principal, the principal of or premium, if any, or interest, if any, on the Securities of such series or in the payment or delivery of any consideration due upon conversion or exchange of any Security of such series (if applicable)) if it determines they determine that withholding notice is in their interest. The Holders of not less than a majority in aggregate principal amount of the Securities of any series then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities of such series waive any an existing Default or Event of Default and its consequences under the Indenture hereunder, except a continuing Default or Event of Default in the payment of the principal ofamount, premium, if any, or and any accrued and unpaid interest, if any, onon any Security of such series or, any in the case of the Securities held by of any series that are convertible or exchangeable, in the payment or delivery of any consideration due upon conversion or exchange of the Securities of such series (including in connection with an offer to purchase) provided, however, that the Holders of a non-consenting Holdermajority in aggregate principal amount of the then outstanding Securities of any series may rescind an acceleration and its consequences, including any related payment default that resulted from such acceleration in accordance with Section 5.02. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default.

Appears in 1 contract

Sources: Indenture (Warner Chilcott LTD)

Defaults and Remedies. The Events An Event of Default relating to includes the Securities are defined in Section 5.01 occurrence of any of the Base Indenturefollowing: default in payment of principal or Change in Control Price or Redemption Price of any Security, when the same becomes due and payable; default for 30 days in payment of accrued and unpaid interest, Additional Interest Amount or Additional Amounts; failure by the Company for 30 days after notice to it to comply with any of its other agreements in the Indenture or the Securities; certain payment defaults or the acceleration of other Indebtedness of the Company and its Subsidiaries and certain events of bankruptcy or insolvency involving the Company or its Significant Subsidiaries. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of the Securities then outstanding Securities may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding the foregoing, except as provided in the case of Indenture. If an Event of Default arising from certain events specified in Section 601(v) or (vi) of bankruptcy or insolvencythe Indenture with respect to the Company occurs, the principal of and accrued interest on all outstanding the Securities shall IPSO FACTO become and be immediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Security Holder. Security Holders may not enforce the Indenture or the Securities except as provided in the Indenture. The Trustee may require indemnity satisfactory to it before it enforces the Indenture or the Securities. Subject to certain limitations, Holders of a majority in aggregate principal amount of the Securities then outstanding Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Security Holders of the Securities notice of any continuing Default or Event of Default (except a Default relating to the payment or Event of principal, premium, if any, or interestDefault in payment) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount the interests of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting HolderSecurity Holders. The Company is required to deliver must furnish an annual compliance certificate to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of DefaultTrustee.

Appears in 1 contract

Sources: Indenture (Axcan Pharma Inc)

Defaults and Remedies. The Events If an Event of Default occurs (other than an Event of Default relating to the Securities are defined in Section 5.01 certain events of the Base Indenture. If any Event of Default occurs bankruptcy, insolvency or reorganization) and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, principal of and accrued but unpaid interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediatelypayable. Notwithstanding the foregoing, in the case of If an Event of Default arising from relating to certain events of bankruptcy bankruptcy, insolvency or insolvencyreorganization occurs and is continuing, the principal of and interest on all outstanding the Securities shall ipso facto become and be immediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in principal amount of the outstanding Securities may not rescind any such acceleration with respect to the Securities and its consequences. If an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any of the rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee reasonable indemnity or security against any loss, liability or expense and certain other conditions are complied with. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy with respect to the Indenture or the Securities except as provided unless (i) such Holder has previously given to the Trustee written notice stating that an Event of Default is continuing, (ii) Holders of at least 25% in principal amount of the Indenture. Subject outstanding Securities have made a written request to certain limitationsthe Trustee to pursue the remedy, (iii) such Holder or Holders have offered to the Trustee reasonable security or indemnity against any loss, liability or expense, (iv) the Trustee has not complied with such request within 60 days after the receipt thereof and the offer of security or indemnity and (v) Holders of a majority in aggregate principal amount of the then outstanding Securities may direct have not given the Trustee in its exercise of any trust or powera direction inconsistent with such request during such 60-day period. The Trustee may withhold from Holders of Subject to certain restrictions, the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the outstanding Securities then outstanding by notice are given the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may on behalf of the Holders of all of the Securities waive refuse to follow any existing Default and its consequences under direction that conflicts with law or the Indenture except a continuing Default in payment of or that the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company Trustee determines is required to deliver unduly prejudicial to the rights of any other Holder or that would involve the Trustee annually a statement regarding compliance with in personal liability. Prior to taking any action under the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such Default or Event of Defaultaction.

Appears in 1 contract

Sources: Indenture (Murphy USA Inc.)

Defaults and Remedies. The Events of Default relating to the Securities are defined in Section 5.01 of the Base Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall become due and payable immediately without further action or notice. Holders may not enforce the Indenture or the Securities except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities may direct Table of Contents the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default.

Appears in 1 contract

Sources: Supplemental Indenture (American Tower Corp /Ma/)

Defaults and Remedies. The Events If an Event of Default occurs (other than an Event of Default relating to the Securities are defined in Section 5.01 certain events of the Base Indenture. If bankruptcy, insolvency or reorganization of any Event of Default occurs Issuer) and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, principal of and accrued but unpaid interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediatelypayable. Notwithstanding the foregoing, in the case of If an Event of Default arising from relating to certain events of bankruptcy bankruptcy, insolvency or insolvencyreorganization of any Issuer occurs, the principal of and interest on all outstanding the Securities shall become immediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Holders. Under certain circumstances. the Holders of a majority in principal amount of the outstanding Securities may not rescind any such acceleration with respect to the Securities and its consequences. If an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any of the rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee indemnity or security satisfactory to it against any loss, liability or expense. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy with respect to the Indenture or the Securities except as provided unless (i) such Holder has previously given the Trustee notice that an Event of Default is continuing, (ii) Holders of at least 25% in principal amount of the Indenture. Subject to certain limitationsoutstanding Securities have requested in writing that the Trustee pursue the remedy, (iii) such Holders have offered the Trustee reasonable security or indemnity against any loss, liability or expense, (iv) the Trustee has not complied with such request within 60 days after the receipt of the request and the offer of security or indemnity and (v) the Holders of a majority in aggregate principal amount of the then outstanding Securities have not given the Trustee a direction inconsistent with such request within such 60-day period. Subject to certain restrictions, the Holders of a majority in principal amount of the outstanding Securities may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee in its exercise or of exercising any trust or powerpower conferred on the Trustee. The Trustee, however, may refuse to follow any direction that conflicts with law or the Indenture or that the Trustee may withhold from Holders of determines is unduly prejudicial to the Securities notice rights of any continuing Default (except a Default relating to the payment of principal, premium, if any, other Holder or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to would subject the Trustee may on behalf of the Holders of all of the Securities waive to personal liability. Prior to taking any existing Default and its consequences action under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such Default or Event of Defaultaction.

Appears in 1 contract

Sources: Indenture (Jones Apparel Group Inc)

Defaults and Remedies. The Events If an Event of Default occurs (other than an Event of Default relating to the Securities are defined in Section 5.01 certain events of bankruptcy, insolvency or reorganization of the Base Indenture. If any Event of Default occurs Company) and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, principal of and accrued but unpaid interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediatelypayable. Notwithstanding the foregoing, in the case of If an Event of Default arising from relating to certain events of bankruptcy bankruptcy, insolvency or insolvencyreorganization of the Company occurs, the principal of and interest on all outstanding the Securities shall become immediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in principal amount of the outstanding Securities may not rescind any such acceleration with respect to the Securities and its consequences. If an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any of the rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered to a Responsible Officer of the Trustee reasonable indemnity or security reasonably satisfactory to the Trustee against any loss, liability or expense and certain other conditions are complied with. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy with respect to the Indenture or the Securities except as provided unless (i) such Holder has previously given the Trustee notice that an Event of Default is continuing, (ii) Holders of at least 25% in principal amount of the Indenture. Subject outstanding Securities have requested the Trustee in writing to certain limitationspursue the remedy, (iii) such Holders have offered the Trustee reasonable security or indemnity reasonably satisfactory to the Trustee against any loss, liability or expense, (iv) the Trustee has not complied with such request within 60 days after the receipt of the request and the offer of security or indemnity and (v) the Holders of a majority in aggregate principal amount of the then outstanding Securities may direct have not given the Trustee in its exercise of any trust or powera direction inconsistent with such request within such 60-day period. The Trustee may withhold from Holders of Subject to certain restrictions, the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the outstanding Securities then outstanding by notice are given the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may on behalf of the Holders of all of the Securities waive refuse to follow any existing Default and its consequences under direction that conflicts with law or the Indenture except a continuing Default in payment of or that the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company Trustee determines is required to deliver unduly prejudicial to the rights of any other Holder or that would involve the Trustee annually a statement regarding compliance with in personal liability. Prior to taking any action under the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such Default or Event of Defaultaction.

Appears in 1 contract

Sources: Indenture (Commercial Aggregates Transportation & Sales LLC)

Defaults and Remedies. The Events If an Event of Default occurs (other than an Event of Default relating to the Securities are defined in Section 5.01 certain events of bankruptcy, insolvency or reorganization of the Base Indenture. If any Event of Default occurs Company) and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, principal of and accrued but unpaid interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediatelypayable. Notwithstanding the foregoing, in the case of If an Event of Default arising from relating to certain events of bankruptcy bankruptcy, insolvency or insolvencyreorganization of the Company occurs, the principal of and interest on all outstanding the Securities shall become immediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in principal amount of the outstanding Securities may not rescind any such acceleration with respect to the Securities and its consequences. If an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any of the rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee reasonable indemnity or security against any loss, liability or expense and certain other conditions are complied with. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy with respect to the Indenture or the Securities except as provided unless (i) such Holder has previously given the Trustee notice that an Event of Default is continuing, (ii) Holders of at least 25% in principal amount of the Indenture. Subject outstanding Securities have requested the Trustee in writing to certain limitationspursue the remedy, (iii) such Holders have offered the Trustee reasonable security or indemnity reasonably satisfactory to the Trustee against any loss, liability or expense, (iv) the Trustee has not complied with such request within 60 days after the receipt of the request and the offer of security or indemnity and (v) the Holders of a majority in aggregate principal amount of the then outstanding Securities may direct have not given the Trustee in its exercise of any trust or powera direction inconsistent with such request within such 60-day period. The Trustee may withhold from Holders of Subject to certain restrictions, the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the outstanding Securities then outstanding by notice are given the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may on behalf of the Holders of all of the Securities waive refuse to follow any existing Default and its consequences under direction that conflicts with law or the Indenture except a continuing Default in payment of or that the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company Trustee determines is required to deliver unduly prejudicial to the rights of any other Holder or that would involve the Trustee annually a statement regarding compliance with in personal liability. Prior to taking any action under the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such Default or Event of Defaultaction.

Appears in 1 contract

Sources: Indenture (Commercial Aggregates Transportation & Sales LLC)

Defaults and Remedies. The Events If an Event of Default occurs (other than an Event of Default relating to the Securities are defined in Section 5.01 certain events of bankruptcy, insolvency or reorganization of the Base Indenture. If any Event of Default occurs Company) and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principalprincipal of, premiumand accrued but unpaid interest on, if any, interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediatelypayable. Notwithstanding the foregoing, in the case of If an Event of Default arising from relating to certain events of bankruptcy bankruptcy, insolvency or insolvencyreorganization of the Company occurs, the principal of, and interest on, all outstanding the Securities shall become iminediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in principal amount of the outstanding Securities may not rescind any such acceleration with respect to the Securities and the consequences of any such acceleration. If an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any of the rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee indemnity or security satisfactory to it in its reasonable discretion against any loss, liability or expense and certain other conditions are complied with. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy with respect to the Indenture or the Securities except as provided unless (i) such Holder has previously given the Trustee notice that an Event of Default is continuing, (ii) Holders of at least 25% in principal amount of the Indentureoutstanding Securities have requested the Trustee in writing to pursue the remedy, (iii) such Holders have offered the Trustee security or indemnity satisfactory to it in its reasonable discretion Exh. Subject to certain limitationsA-10 against any loss, liability or expense, (iv) the Trustee has not complied with such request within 60 days after the receipt of the request and the offer of security or indemnity and (v) the Holders of a majority in aggregate principal amount of the then outstanding Securities may direct have not given the Trustee in its exercise of any trust or powera direction inconsistent with such request within such 60-day period. The Trustee may withhold from Holders of Subject to certain restrictions, the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the outstanding Securities then outstanding by notice are given the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may on behalf of the Holders of all of the Securities waive refuse to follow any existing Default and its consequences under direction that conflicts with law or the Indenture except a continuing Default in payment of or that the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company Trustee determines is required to deliver unduly prejudicial to the rights of any other Holder or that would involve the Trustee annually a statement regarding compliance with in personal liability. Prior to taking any action under the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such Default or Event of Defaultaction.

Appears in 1 contract

Sources: Indenture (Kansas City Southern)

Defaults and Remedies. The Events If an Event of Default occurs (other than an Event of Default relating to the Securities are defined in Section 5.01 certain events of bankruptcy, insolvency or reorganization of the Base Indenture. If any Event of Default occurs Company) and is continuing, the Trustee or the Holders of at least 2530% in principal amount of the then outstanding Securities may declare the principal, premium, if any, principal of and accrued but unpaid interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediatelypayable. Notwithstanding the foregoing, in the case of If an Event of Default arising from relating to certain events of bankruptcy bankruptcy, insolvency or insolvencyreorganization of the Company occurs, the principal of and interest on all outstanding the Securities shall become immediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in principal amount of the outstanding Securities may not rescind any such acceleration with respect to the Securities and its consequences. If an Event of Default occurs and is continuing, the Trustee will be under no obligation to exercise any of the rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee reasonable indemnity or security against any loss, liability or expense. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy with respect to the Indenture or the Securities except as provided unless (i) such Holder has previously given the Trustee notice that an Event of Default is continuing, (ii) Holders of at least 30% in principal amount of the Indenture. Subject outstanding Securities have requested the Trustee in writing to certain limitationspursue the remedy, (iii) such Holders have offered the Trustee reasonable security or indemnity against any loss, liability or expense, (iv) the Trustee has not complied with such request within 60 days after the receipt of the request and the offer of security or indemnity and (v) the Holders of a majority in aggregate principal amount of the then outstanding Securities may direct have not given the Trustee in its exercise of any trust or powera direction inconsistent with such request within such 60-day period. The Trustee may withhold from Holders of Subject to certain restrictions, the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the outstanding Securities then outstanding by notice are given the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may on behalf of the Holders of all of the Securities waive refuse to follow any existing Default and its consequences under direction that conflicts with law or the Indenture except a continuing Default in payment of or that the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company Trustee determines is required to deliver unduly prejudicial to the rights of any other Holder or that would involve the Trustee annually a statement regarding compliance with in personal liability. Prior to taking any action under the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying will be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such Default or Event of Defaultaction.

Appears in 1 contract

Sources: Indenture (Evenflo Co Inc)

Defaults and Remedies. The Events If an Event of Default occurs (other than an Event of Default relating to certain events of bankruptcy, insolvency or reorganization of the Company) and is continuing, the Trustee or the Noteholders of at least 25% in principal amount of the outstanding Securities may declare the principal of and accrued but unpaid interest on all the Securities are defined in Section 5.01 to be due and payable. If an 109 Event of Default relating to certain events of bankruptcy, insolvency or reorganization of the Base IndentureCompany occurs, the principal of and interest on all the Securities shall become immediately due and payable without any declaration or other act on the part of the Trustee or any Noteholders. Under certain circumstances, the Noteholders of a majority in principal amount of the outstanding Securities may rescind any such acceleration with respect to the Securities and its consequences. If any an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any of the rights or powers under the Indenture at the request or direction of any of the Noteholders unless such Noteholders have offered to the Trustee reasonable indemnity or security against any loss, liability or expense and certain other conditions are complied with. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Noteholder may pursue any remedy with respect to the Indenture or the Holders Securities unless (i) such Noteholder has previously given the Trustee notice that an Event of Default is continuing, (ii) Noteholders of at least 25% in principal amount of the then outstanding Securities may declare have requested the principalTrustee in writing to pursue the remedy, premium(iii) such Noteholders have offered the Trustee reasonable security or indemnity against any loss, if anyliability or expense, interest (iv) the Trustee has not complied with such request within 60 days after the receipt of the request and any other monetary obligations on all the then offer of security or indemnity and (v) the Noteholders of a majority in principal amount of the outstanding Securities to be due and payable immediately. Notwithstanding have not given the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall become due and payable immediately without further action or notice. Holders may not enforce the Indenture or the Securities except as provided in the IndentureTrustee a direction inconsistent with such request within such 60-day period. Subject to certain limitationsrestrictions, Holders the Noteholders of a majority in aggregate principal amount of the then outstanding Securities are given the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may direct refuse to follow any direction that conflicts with law or the Indenture or that the Trustee determines is unduly prejudicial to the rights of any other Noteholder or that would involve the Trustee in its exercise of personal liability. Prior to taking any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences action under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such Default or Event of Defaultaction.

Appears in 1 contract

Sources: Indenture (Wki Holding Co Inc)

Defaults and Remedies. The Events If an Event of Default occurs (other than an Event of Default relating to the Securities are defined in Section 5.01 certain events of bankruptcy, insolvency or reorganization of the Base Indenture. If any Event of Default occurs Issuer) and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, principal of and accrued but unpaid interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediatelypayable. Notwithstanding the foregoing, in the case of If an Event of Default arising from relating to certain events of bankruptcy bankruptcy, insolvency or insolvencyreorganization of the Issuer occurs, the principal of and interest on all outstanding the Securities shall become immediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in principal amount of the outstanding Securities may not rescind any such acceleration with respect to the Securities and its consequences. If an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any of the rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee reasonable indemnity or security against any loss, liability or expense. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy with respect to the Indenture or the Securities except as provided unless (i) such Holder has previously given the Trustee notice that an Event of Default is continuing, (ii) Holders of at least 25% in principal amount of the Indenture. Subject outstanding Securities have requested the Trustee in writing to certain limitationspursue the remedy, (iii) such Holders have offered the Trustee reasonable security or indemnity against any loss, liability or expense, (iv) the Trustee has not complied with such request within 60 days after the receipt of the request and the offer of security or indemnity and (v) the Holders of a majority in aggregate principal amount of the then outstanding Securities may direct have not given the Trustee in its exercise of any trust or powera direction inconsistent with such request within such 60-day period. The Trustee may withhold from Holders of Subject to certain restrictions, the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the outstanding Securities then outstanding by notice are given the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may on behalf of the Holders of all of the Securities waive refuse to follow any existing Default and its consequences under direction that conflicts with law or the Indenture except a continuing Default in payment of or that the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company Trustee determines is required to deliver unduly prejudicial to the rights of any other Holder or that would involve the Trustee annually a statement regarding compliance with in personal liability. Prior to taking any action under the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such Default or Event of Defaultaction.

Appears in 1 contract

Sources: Indenture (Acs Infosource Inc)

Defaults and Remedies. The Events of Default relating to the Securities are defined in Section 5.01 of the Base Indenture. If any an Event of Default occurs and is continuingcontinuing (other than an Event of Default relating to certain events of bankruptcy, insolvency or reorganization in which events all principal, accrued interest and Additional Amounts, if any, with respect to the Securities will be immediately due and payable without any declaration or other act on the part of the Trustee or the Holders), then in every such case, unless the principal of all of the Securities shall have already become due and payable, either the Trustee or the Holders of at least 25% in aggregate principal amount of the Securities then outstanding Securities may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Notwithstanding the foregoing, immediately in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities shall become due manner and payable immediately without further action or noticewith the effect pro- vided in the Indenture. Holders of Securities may not enforce the Indenture or the Securities except as provided in the Indenture. The Trustee may require indemnity satisfactory to it before it enforces the Indenture or the Securities. Subject to certain limitations, Holders of a majority in aggregate principal amount of the Securities then outstanding Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default or Event of Default (except a Default relating to the in payment of principal, premiuminterest or Additional Amounts), if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities waive any existing Default and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default11.

Appears in 1 contract

Sources: Indenture (Checkpoint Systems Inc)

Defaults and Remedies. The Events If an Event of Default occurs (other than an Event of Default relating to the Securities are defined in Section 5.01 certain events of bankruptcy, insolvency or reorganization of the Base Indenture. If any Event of Default occurs Company) and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Securities may declare the principal, premium, if any, principal of and accrued but unpaid interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediatelypayable. Notwithstanding the foregoing, in the case of If an Event of Default arising from relating to certain events of bankruptcy bankruptcy, insolvency or insolvencyreorganization of the Company occurs, the principal of and interest on all outstanding the Securities shall become immediately due and payable immediately without further action any declaration or noticeother act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in principal amount of the outstanding Securities may not rescind any such acceleration with respect to the Securities and its consequences. If an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any of the rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee indemnity or security reasonably satisfactory to it against any loss, liability or expense and certain other conditions are complied with. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy with respect to the Indenture or the Securities except as provided unless (i) such Holder has previously given the Trustee notice that an Event of Default is continuing, (ii) Holders of at least 25% in principal amount of the Indenture. Subject outstanding Securities have requested the Trustee in writing to certain limitationspursue the remedy, (iii) such Holders have offered the Trustee security or indemnity reasonably satisfactory to it against any loss, liability or expense, (iv) the Trustee has not complied with such request within 60 days after the receipt of the request and the offer of security or indemnity and (v) the Holders of a majority in aggregate principal amount of the then outstanding Securities may direct have not given the Trustee in its exercise of any trust or powera direction inconsistent with such request within such 60-day period. The Trustee may withhold from Holders of Subject to certain restrictions, the Securities notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the outstanding Securities then outstanding by notice are given the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may on behalf of the Holders of all of the Securities waive refuse to follow any existing Default and its consequences under direction that conflicts with law or the Indenture except a continuing Default in payment of or that the principal of, premium, if any, or interest, if any, on, any of the Securities held by a non-consenting Holder. The Company Trustee determines is required to deliver unduly prejudicial to the rights of any other Holder or that would involve the Trustee annually a statement regarding compliance with in personal liability. Prior to taking any action under the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such Default or Event of Defaultaction.

Appears in 1 contract

Sources: Indenture (Alliant Techsystems Inc)