Common use of No Default or Event of Default with respect to Clause in Contracts

No Default or Event of Default with respect to. the Notes shall have occurred and be continuing on the date of such deposit (other than a Default or Event of Default resulting from the incurrence of Debt, the proceeds of which are applied to such deposit) or, insofar as paragraphs (g) and (h) of Section 501 hereof are concerned, at any time during the period ending on the 91st day after the date of such deposit (it being understood that this condition shall not be deemed satisfied until the expiration of such period).

No Default or Event of Default with respect to. the Notes shall have occurred and be continuing on the date of such deposit (other than a Default or Event of Default resulting from the incurrence of Debt, the proceeds of which are applied to such deposit) or, insofar as paragraphs (gd) and (he) of Section 501 hereof are concerned, at any time during the period ending on the 91st day after the date of such deposit (it being understood that this condition shall not be deemed satisfied until the expiration of such period).