Common use of No Events of Default or Rights of Acceleration; Liquidation Claim Upon Liquidation Event Clause in Contracts

No Events of Default or Rights of Acceleration; Liquidation Claim Upon Liquidation Event. Non-payment of principal of or interest on any series of the Securities (including Additional Amounts with respect thereto, if any) or breach of any covenant in this Perpetual Subordinated Indenture or the Securities or any other event shall not constitute an event of default or an event of acceleration under this Perpetual Subordinated Indenture or the Securities or give rise to any right of the Holders or the Trustee to declare the principal of or interest on any series of Securities to be due and payable or accelerate any payment of such principal or interest, and there are no events of default or circumstances in respect of the Securities that entitle the Holders of Securities or the Trustee to require that the Securities become immediately due and payable. Upon the occurrence and continuation of a Liquidation Event, Holders of the Securities shall have a Liquidation Claim, payment of which is subject to the subordination provisions described in Article 12 of this Perpetual Subordinated Indenture.