Common use of Events of Default and Enforcement Clause in Contracts

Events of Default and Enforcement. The Specified Majority may declare the Notes to be due and repayable (and the Notes shall thereby become so due and repayable together with all accrued and unpaid interest including deferred interest and/or default interest) if: (a) the Company shall fail on the due date to make any payment of principal to any Noteholder under these Conditions and shall not remedy such failure within 60 Business Days of the Company having received notice of such failure from the Specified Majority; (b) the Company shall fail on the due date to make any payment of interest due to any Noteholder under these Conditions, and shall not remedy such failure within 60 Business Days of the Company having received notice of such failure from the Specified Majority; and (c) before the Maturity Date the Company breaches the covenant set out at Condition 8 below, save that the Company will not be in default of the covenant set out at Condition 8 if within 90 Business Days of having paid a dividend in breach of the covenant set out at Condition 8 the Company procures the repayment of such dividend and such dividend is repaid.