Common use of Evidence of Default Clause in Contracts

Evidence of Default. If the Note Trustee (or any Noteholder or Couponholder were entitled under this Trust Deed so to do) makes any claim, institutes any legal proceedings or lodges any proof in a winding up or insolvency of the Issuer under this Trust Deed or under the Notes, proof therein that: 7.2.1 as regards any specified Note the Issuer has made default in paying any principal due in respect of such Note shall (unless the contrary be proved) be sufficient evidence that the Issuer has made the like default as regards all other Notes in respect of which a corresponding payment is then due; and 7.2.2 as regards any specified Coupon, the Issuer has made default in paying any interest due in respect of such Coupon shall (unless the contrary be proved) be sufficient evidence that the Issuer has made the like default as regards all other Coupons in respect of which a corresponding payment is then due; and 7.2.3 as regards any Talon, the Issuer has made default in exchanging such Talon for further Coupons and a further Talon as provided by its terms shall (unless the contrary be proved) be sufficient evidence that the Issuer has made the like default as regards all other Talons which are then available for exchange;

Evidence of Default. If the Note Trustee (or any Noteholder or Couponholder were where entitled under this Trust Deed so to do) makes any claim, institutes any legal proceedings proceeding or lodges any proof in a winding winding-up or insolvency of the Issuer or the Guarantor under this Trust Deed or under the NotesNotes of any series, proof therein that: 7.2.1 8.2.1 as regards any specified Note of that series the Issuer has made default in paying any principal due in respect of such Note shall (unless the contrary be proved) be sufficient evidence that the Issuer has made the like default as regards all other Notes of that series in respect of which a corresponding payment is then due; and 7.2.2 8.2.2 as regards any specified Coupon, Coupon relating to Notes of that series the Issuer has made default in paying any interest due in respect of such Coupon shall (unless the contrary be proved) be sufficient evidence that the Issuer has made the like default as regards all other Coupons relating to Notes of that series in respect of which a corresponding payment is then due; and 7.2.3 as regards any Talon, and for the Issuer has made default purposes of this Clause 8.2 a payment shall be a "corresponding" payment notwithstanding that it is due in exchanging such Talon for further Coupons and respect of a further Talon as provided by its terms shall (unless Note of a different denomination from that in respect of the contrary be proved) be sufficient evidence that the Issuer has made the like default as regards all other Talons which are then available for exchange;above specified Note or specified Coupon.

Evidence of Default. If the Note Trustee (or any Noteholder or Couponholder were where entitled under this Trust Deed so to do) makes any claim, institutes any legal proceedings proceeding or lodges any proof in a winding up or insolvency of the Issuer under this Trust Deed or under the Notes, proof therein that: 7.2.1 8.2.1 as regards any specified Note within a given Series, the Issuer has made default in paying any principal due in respect of such Note shall (unless the contrary be proved) be sufficient evidence that the Issuer has made the like default as regards all other Notes in respect of which a corresponding payment is then due; and; 7.2.2 8.2.2 as regards any specified Coupon, Coupon the Issuer has made default in paying any interest due in respect of such Coupon shall (unless the contrary be proved) be sufficient evidence that the Issuer has made the like default as regards all other Coupons in respect of which a corresponding payment is then due; and 7.2.3 8.2.3 as regards any Talon, the Issuer has made default in exchanging such Talon for further Coupons and a further Talon as provided by its terms shall (unless the contrary be proved) be sufficient evidence that the Issuer has made the like default as regards all other Talons which are then available for exchange;,

Evidence of Default. If the Note Trustee (or any Noteholder Noteholder, Receiptholder, Couponholder or Couponholder were other Issuer Secured Creditor where entitled under this Note Trust Deed so to do) makes any claim, institutes any legal proceedings proceeding or lodges any proof in a winding up or insolvency of the Issuer under this Note Trust Deed or under the Notes, proof therein that: 7.2.1 as regards any specified Note Note, the Issuer has made default in paying any principal due in respect of such Note shall (unless the contrary be proved) be sufficient evidence that the Issuer has made the like default as regards all other Notes in respect of which a corresponding payment is then due; and 7.2.2 as regards any specified Coupon, the Issuer has made default in paying any interest due in respect of such Coupon shall (unless the contrary be proved) be sufficient evidence that the Issuer has made the like default as regards all other Coupons in respect of which a corresponding payment is then due; and 7.2.3 as regards any Talon, the Issuer has made default in exchanging such Talon for further Coupons and a further Talon as provided by its terms shall (unless the contrary be proved) be sufficient evidence that the Issuer has made the like default as regards all other Talons which are then available for exchange;, and for the purposes of Sub-clauses 7.2.1 and 7.2.2 above a payment shall be a "corresponding" payment notwithstanding that it is due in respect of a Note of a different denomination from that in respect of the above specified Note.

Evidence of Default. If the Note Trustee (or any Noteholder Noteholder, Receiptholder or Couponholder were where entitled under this Trust Deed so to do) makes any claim, institutes any legal proceedings proceeding or lodges any proof in a winding up or insolvency of the Issuer either of UPM-Kymmene and UPM-Kymmene Finance under this Trust Deed or under the Notes, proof therein that: 7.2.1 (a) as regards any specified Note the relevant Issuer has made default defaulted in paying any principal and/or (where the same is not paid against presentation of a Global Note, Coupon or, if so provided for in the Conditions, Global Note Certificate) interest due in respect of such Note shall (unless the contrary be proved) be sufficient evidence that the such Issuer has made defaulted in the like default same manner as regards all other Notes in respect of which a corresponding payment is then due; and 7.2.2 (b) as regards any specified Coupon, Coupon the relevant Issuer has made default defaulted in paying any interest due in respect of such Coupon shall (unless the contrary be proved) be sufficient evidence that the such Issuer has made defaulted in the like default same manner as regards all other Coupons in respect of which a corresponding payment is then due; and 7.2.3 (c) as regards any Talon, the relevant Issuer has made default defaulted in exchanging such Talon for further Coupons and a further Talon as provided by its terms shall (unless the contrary be proved) be sufficient evidence that the such Issuer has made defaulted in the like default same manner as regards all other Talons which are then available for exchange;; and for the purposes of (a) and (b) above a payment shall be a “corresponding” payment notwithstanding that it is due in respect of a Note of a different denomination from that in respect of the above specified Note.