Common use of No Payment When Senior Indebtedness in Default Clause in Contracts

No Payment When Senior Indebtedness in Default. In the event and during the continuation of (a) any default in the payment of principal of (or premium, if any) or interest on any Senior Indebtedness beyond any applicable grace period with respect thereto (unless and until such payment default shall have been cured or waived in writing by the holders of such Senior Indebtedness) or (b) any default (other than a payment default) with respect to Senior Indebtedness occurs and is continuing that permits the acceleration of the maturity thereof and judicial proceedings shall be pending with respect to any such default or the Company receives written notice of such default (a "Senior Indebtedness Default Notice"), then no payment shall be made by the Company on account of principal of (or premium, if any) or interest on the Series 6-1/2% Notes or on account of the purchase or other acquisition of Series 6-1/2% Notes (including pursuant to Article II of the Indenture and Articles II, III and IV herein). Notwithstanding the foregoing, payments with respect to the Series 6-1/2% Notes may resume and the Company may acquire Series 6-1/2% Notes for cash when (x) the default with respect to the Senior Indebtedness is cured or waived or ceases to exist or (y) in the case of a default described in (b) above, 179 or more days pass after the Senior Indebtedness Default Notice is received by the Company; provided, that the terms of the Indenture and this First Supplemental Indenture otherwise permit the payment or acquisition of the Series 6-1/2% Notes at that time. If the Company receives a Senior Indebtedness Default Notice, then a similar notice received within nine months thereafter relating to the same default on the same issue of Senior Indebtedness shall not be effective to prevent the payment or acquisition of the Series 6-1/2% Notes as described in the first sentence of this Section 5.03. In addition, no payment may be made on the Series 6-1/2% Notes if any Series 6-1/2% Notes are declared due and payable prior to their Stated Maturity by reason of the occurrence of an Event of Default until the earlier of (1) 120 days after the date of such acceleration or (2) the payment in full of all Senior Indebtedness, but only if such payment is then otherwise permitted under the terms of the Indenture and this First Supplemental Indenture. In the event that, notwithstanding the foregoing, the Company shall make any payment to the Trustee or the Holder of any Series 6-1/2% Note prohibited by the foregoing provisions of this Section 5.03, and if, at or prior to the time of such payment, written notice that such payment is prohibited by the foregoing paragraph shall have been actually given to a Responsible Officer of the Trustee or, as the case may be, such Holder, then and in such event such payment shall be paid over and delivered forthwith to the Company. The provisions of this Section 5.03 shall not apply to any payment with respect to which Section 5.02 would be applicable.

No Payment When Senior Indebtedness in Default. 113 In the event and during the continuation of (a) any default by the Company in the payment of principal of (or principal, premium, if any) interest or interest any other payment due on any Senior Indebtedness of the Company, as the case may be, beyond any applicable grace period with respect thereto (unless thereto, or in the event that the maturity of any Senior Indebtedness of the Company, as the case may be, has been accelerated because of a default, or in the event and until such payment default shall have been cured or waived in writing by during the holders continuation of such Senior Indebtedness) or (b) any default under the New Credit Agreement or any refinancing of the New Credit Agreement in the bank credit market (other than a payment defaultincluding institutional participants therein) with respect that would permit the lenders under the New Credit Agreement or such refinancing to Senior Indebtedness occurs and is continuing that permits the acceleration of accelerate the maturity thereof and judicial proceedings shall be pending with respect to or demand payment in full, then, in any such default or the Company receives written notice of such default (a "Senior Indebtedness Default Notice")case, then no payment shall be made by the Company on account of with respect to the principal of (including redemption and sinking fund payments) of, or premium, if any) , or interest on the Series 6-1/2% Notes or on account of the purchase or other acquisition of Series 6-1/2% Notes (including pursuant to Article II of the Indenture and Articles II, III and IV herein). Notwithstanding the foregoing, payments with respect to the Series 6-1/2% Notes may resume and the Company may acquire Series 6-1/2% Notes for cash when (x) the Debentures until such default with respect to the Senior Indebtedness is cured or waived or ceases to exist or (y) in the case of a default described in (b) above, 179 or more days pass after the Senior Indebtedness Default Notice is received by the Company; provided, that the terms of the Indenture and this First Supplemental Indenture otherwise permit the payment or acquisition of the Series 6-1/2% Notes at that time. If the Company receives a Senior Indebtedness Default Notice, then a similar notice received within nine months thereafter relating to the same default on the same issue of Senior Indebtedness shall not be effective to prevent the payment or acquisition of the Series 6-1/2% Notes as described in the first sentence of this Section 5.03. In addition, no payment may be made on the Series 6-1/2% Notes if any Series 6-1/2% Notes are declared due and payable prior to their Stated Maturity by reason of the occurrence of an Event of Default until the earlier of (1) 120 days after the date of such acceleration or (2) the demand for payment in full of all Senior Indebtedness, but only if such payment is then otherwise permitted under the terms of the Indenture and this First Supplemental Indenturehas been rescinded. In the event that, notwithstanding the foregoing, the Company shall make any payment to shall be received by the Trustee or the Holder of any Series 6-1/2% Note prohibited by the foregoing provisions of this Section 5.03, and if, at or prior to the time of such payment, written notice that when such payment is prohibited by the foregoing preceding paragraph shall have been actually given to a Responsible Officer of the Trustee orthis Section 15.4, as the case may be, such Holder, then and in such event such payment shall be held in trust for the benefit of, and shall be paid over and or delivered forthwith to, the holders of Senior Indebtedness or their respective representatives, or to the Company. The provisions of this Section 5.03 shall not apply to trustee or trustees under any payment with respect indenture pursuant to which Section 5.02 would any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Trustee in writing within 90 days of such payment of the amounts then due and owing on the Senior Indebtedness and only the amounts specified in such notice to the Trustee shall be applicablepaid to the holders of Senior Indebtedness.

No Payment When Senior Indebtedness in Default. (a) In the event and during the continuation of (a) any default in the payment of principal of (or premium, if any) or interest on any Senior Indebtedness beyond any applicable grace period with respect thereto (unless and until such payment default shall have been cured or waived in writing by the holders of such Senior Indebtedness) ), or (b) any default (other than a payment default) with respect to Senior Indebtedness occurs and is continuing that permits the acceleration of the maturity thereof and judicial proceedings shall be pending with respect to any such default or the Company receives written notice of such default (a "Senior Indebtedness Default Notice"), then no payment shall be made by the Company on account of principal of (or premium, if any) or interest on the Series 68-1/23/4% Notes or on account of the purchase or other acquisition of Series 68-1/23/4% Notes (including pursuant to Article II of the Indenture and Articles II, III and IV herein). Notwithstanding the foregoing, payments with respect to the Series 68-1/23/4% Notes may resume and the Company may acquire Series 68-1/23/4% Notes for cash when (x) the default with respect to the Senior Indebtedness is cured or waived or ceases to exist or (y) in the case of a default described in (b) above, 179 or more days pass after the Senior Indebtedness Default Notice is received by the Company; provided, that the terms of the Indenture and this First Supplemental Indenture otherwise permit the payment or acquisition of the Series 68-1/23/4% Notes at that time. If the Company receives a Senior Indebtedness Default Notice, then a similar notice received within nine months thereafter relating to the same default on the same issue of Senior Indebtedness shall not be effective to prevent the payment or acquisition of the Series 68-1/23/4% Notes as described in the first sentence of this Section 5.035.03(a). In addition, no payment may be made on the Series 68-1/23/4% Notes if any Series 68-1/23/4% Notes are declared due and payable prior to their Stated Maturity by reason of the occurrence of an Event of Default until the earlier of (1) 120 days after the date of such acceleration or (2) the payment in full of all Senior Indebtedness, but only if such payment is then otherwise permitted under the terms of the Indenture and this First Supplemental Indenture. In the event that, notwithstanding the foregoing, the Company shall make any payment to the Trustee or the Holder of any Series 68-1/23/4% Note prohibited by the foregoing provisions of this Section 5.03, and if, at or prior to the time of such payment, written notice that such payment is prohibited by the foregoing paragraph shall have been actually given to a Responsible Officer of the Trustee or, as the case may be, such Holder, then and in such event such payment shall be paid over and delivered forthwith to the Company. The provisions of this Section 5.03 shall not apply to any payment with respect to which Section 5.02 would be applicable.

No Payment When Senior Indebtedness in Default. In the event ---------------------------------------------- and during the continuation of (a) any default by the Company in the payment of principal of (or principal, premium, if any) interest or interest any other payment due on any Senior Indebtedness of the Company, as the case may be, beyond any applicable grace period with respect thereto (unless and until such payment default shall have been cured thereto, or waived in writing by the holders event that the maturity of such Senior Indebtedness) or (b) any default (other than a payment default) with respect to Senior Indebtedness occurs and is continuing that permits the acceleration of the maturity thereof and judicial proceedings shall be pending with respect to Company, as the case may be, has been accelerated because of a default, then, in any such default or the Company receives written notice of such default (a "Senior Indebtedness Default Notice")case, then no payment shall be made by the Company on account of principal of (or with respect to the principal, premium, if any) , or interest on the Series 6-1/2% Notes Securities of any series (or on account of the purchase or other acquisition of Series 6-1/2% Notes (including pursuant to Article II of the Indenture and Articles II, III and IV herein). Notwithstanding the foregoing, payments with respect to the Series 6-1/2% Notes may resume and the Company may acquire Series 6-1/2% Notes for cash when (xany Coupons appertaining thereto) the until such default with respect to the Senior Indebtedness is cured or waived or ceases to exist or (y) in the case of a default described in (b) above, 179 or more days pass after the Senior Indebtedness Default Notice is received by the Company; provided, that the terms of the Indenture and this First Supplemental Indenture otherwise permit the payment or acquisition of the Series 6-1/2% Notes at that time. If the Company receives a Senior Indebtedness Default Notice, then a similar notice received within nine months thereafter relating to the same default on the same issue of Senior Indebtedness shall not be effective to prevent the payment or acquisition of the Series 6-1/2% Notes as described in the first sentence of this Section 5.03. In addition, no payment may be made on the Series 6-1/2% Notes if any Series 6-1/2% Notes are declared due and payable prior to their Stated Maturity by reason of the occurrence of an Event of Default until the earlier of (1) 120 days after the date of such acceleration or (2) the demand for payment in full of all Senior Indebtedness, but only if such payment is then otherwise permitted under the terms of the Indenture and this First Supplemental Indenturehas been rescinded. In the event that, notwithstanding the foregoing, the Company shall make any payment to shall be received by the Trustee or the Holder of any Series 6-1/2% Note prohibited by the foregoing provisions of this Section 5.03, and if, at or prior to the time of such payment, written notice that when such payment is prohibited by the foregoing preceding paragraph shall have been actually given to a Responsible Officer of the Trustee orthis Section 15.4, as the case may be, such Holder, then and in such event such payment shall be held in trust for the benefit of, and shall be paid over and or delivered forthwith to, the holders of Senior Indebtedness or their respective representatives, or to the Company. The provisions of this Section 5.03 shall not apply to trustee or trustees under any payment with respect indenture pursuant to which Section 5.02 would any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Trustee in writing within 90 days of such payment of the amounts then due and owing on the Senior Indebtedness and only the amounts specified in such notice to the Trustee shall be applicablepaid to the holders of Senior Indebtedness.

No Payment When Senior Indebtedness in Default. (a) In the event and during the continuation of (a) any default in the payment of principal of (or premium, if any) or interest on any Senior Indebtedness beyond any applicable grace period with respect thereto (unless and until such payment default shall have been cured or waived in writing by the holders of such Senior Indebtedness) ), or (b) any default (other than a payment default) with respect to Senior Indebtedness occurs and is continuing that permits the acceleration of the maturity thereof and judicial proceedings shall be pending with respect to any such default or the Company receives written notice of such default (a "Senior Indebtedness Default Notice"), then no payment shall be made by the Company on account of principal of (or premium, if any) or interest on the Series 6-1/2% Notes Securities or on account of all other amounts payable under the purchase or other acquisition of Series 6-1/2% Notes (including pursuant to Article II of the Indenture and Articles II, III and IV herein)Securities. Notwithstanding the foregoing, payments with respect to the Series 6-1/2% Notes Securities may resume and the Company may acquire Series 6-1/2% Notes Securities for cash or property when (x) the default with respect to the Senior Indebtedness is cured or waived or ceases to exist or (y) in the case of a default described in (b) above, 179 or more days pass after the Senior Indebtedness Default Notice is received by the Company; provided, that the terms of the Indenture and this First Supplemental Indenture otherwise permit the payment or acquisition of the Series 6-1/2% Notes at that time. If the Company receives a Senior Indebtedness Default Notice, then a similar notice received within nine months thereafter relating to the same default on the same issue of Senior Indebtedness shall not be effective to prevent the payment or acquisition of the Series 6-1/2% Notes Securities as described in the first sentence of this Section 5.0313.03(a). In addition, no payment may be made on the Series 6-1/2% Notes Securities if any Series 6-1/2% Notes Securities are declared due and payable prior to their Stated Maturity by reason of the occurrence of an Event of Default resulting from the acceleration of the maturity of any Senior Indebtedness until the earlier of (1i) 120 days after the date of such acceleration or (2ii) the payment in full of all Senior Indebtedness, but only if such payment is then otherwise permitted under the terms of the Indenture and this First Supplemental Indenture. In the event that, notwithstanding the foregoing, the Company shall make any payment to the Trustee or the Holder of any Series 6-1/2% Note Securities prohibited by the foregoing provisions of this Section 5.0313.03 before all Senior Indebtedness is paid in full, or effective provisions made for its payment, and if, at or prior to the time of such payment, written notice that such payment is prohibited by the foregoing paragraph shall have been actually given to a Responsible Officer of the Trustee or, as the case may be, such Holder, then and in such event (but subject to the provisions of Section 13.09) such payment shall be paid over and delivered forthwith to the Companyholders of such Senior Indebtedness remaining unpaid or their representatives to the extent necessary to pay all Senior Indebtedness in full, after giving effect to any concurrent payment or distribution, or provision therefor, to the holders of such Senior Indebtedness. The provisions of this Section 5.03 13.03 shall not apply to any payment with respect to which Section 5.02 13.02 would be applicable.

No Payment When Senior Indebtedness in Default. In the event and during the continuation of (a) The Company may not make any default in the payment of the principal of (or of, premium, if any) , or interest (including Liquidated Damages, if any) in respect of the Notes nor may the Company pay cash with respect to the redemption price or acquire any Notes for cash or property (other than for Common Stock of the Company) if (a) a payment default on any Senior Indebtedness has occurred and is continuing beyond any applicable grace period with respect thereto (unless and until such payment default shall have been cured or waived in writing by the holders of such Senior Indebtedness) thereto; or (b) any a default (other than a payment defaultdefault referred to in the preceding clause (a)) with respect to on any Senior Indebtedness occurs and is continuing that permits holders of such Senior Indebtedness to accelerate the acceleration of the stated maturity thereof and the default is the subject of judicial proceedings shall be pending with respect to any such default or the Company receives written a notice of default thereof from any Person who may give such default (a "Senior Indebtedness Default Notice"), then no payment shall be made by the Company on account of principal of (or premium, if any) or interest on the Series 6-1/2% Notes or on account of the purchase or other acquisition of Series 6-1/2% Notes (including notice pursuant to Article II of the Indenture and Articles II, III and IV herein). Notwithstanding the foregoing, payments with respect to the Series 6-1/2% Notes may resume and the Company may acquire Series 6-1/2% Notes for cash when (x) the default with respect to the instrument evidencing or document governing such Senior Indebtedness is cured or waived or ceases to exist or (y) in the case of a default described in (b) above, 179 or more days pass after the Senior Indebtedness Default Notice is received by the Company; provided, that the terms of the Indenture and this First Supplemental Indenture otherwise permit the payment or acquisition of the Series 6-1/2% Notes at that timeIndebtedness. If the Company receives a Senior Indebtedness Default Noticeany such notice, then a similar notice received within nine months thereafter relating to the same default on the same issue of Senior Indebtedness shall not be effective for purposes of this Section 4.3. The Company may resume payment on the Notes and may acquire Notes if and when (i) the default referred to prevent above is cured or waived or ceases to exist; or (ii) in the case of a default referred to in clause (b) of the preceding paragraph, 179 or more days pass after the receipt by the Company of the notice described in clause (b) above; and this Article Four otherwise permits the payment or acquisition at that time. Nothing contained in this Article Four or elsewhere in this Indenture or in any of the Series 6-1/2% Notes as shall prevent the conversion by a holder of any Notes into Common Stock in accordance with the provisions for conversion of such Notes set forth in this Indenture, including the payment of cash in lieu of fractional shares of Common Stock in accordance with Article Fifteen, or in any of such Notes in the event of an occurrence of the events described in the first sentence of this Section 5.03. 4.3. (b) In addition, no payment may be made on the Series 6-1/2% Notes if event that any Series 6-1/2% Notes are declared due and payable prior before their stated maturity pursuant to their Stated Maturity by reason Section 7.1, then and in such event the Company shall promptly notify holders of Senior Indebtedness of such acceleration. The Company may not pay the occurrence of an Event of Default Notes until the earlier of (1i) the passage of 120 or more days have passed after the date of such acceleration occurs or (2ii) the payment in full in cash or other payment satisfactory to the holders of Senior Indebtedness of all Senior Indebtedness, but only and may thereafter pay the Notes if such this Article Four permits the payment is then otherwise permitted under the terms of the Indenture and this First Supplemental Indentureat that time. In the event that, notwithstanding the foregoing provisions, any payment or distribution of assets of the Company of any kind or character, whether in cash, property or securities (including, without limitation, by way of setoff or otherwise), prohibited by the foregoing, the Company shall make any payment to be received by the Trustee or the Holder holders of any Series 6-1/2% Note prohibited by the foregoing provisions Notes before all Senior Indebtedness of this Section 5.03, and if, at the Company is paid in full in cash or prior other payment satisfactory to the time holders of such paymentSenior Indebtedness of the Company, written notice that or provision is made for such payment is prohibited by thereof in accordance with its terms in cash or other payment satisfactory to the foregoing paragraph shall have been actually given to a Responsible Officer holders of such Senior Indebtedness of the Trustee or, as the case may beCompany, such Holder, then payment or distribution shall be held in trust for the benefit of and in such event such payment shall be paid over and or delivered forthwith to the holders of Senior Indebtedness of the Company or their representative or representatives, or to the trustee or trustees under any indenture pursuant to which any instruments evidencing any Senior Indebtedness of the Company may have been issued, as their respective interests may appear for application to the payment of all Senior Indebtedness of the Company remaining unpaid to the extent necessary to pay all Senior Indebtedness of the Company in full in cash or other payment satisfactory to the holders of such Senior Indebtedness of the Company, after giving effect to any concurrent payment or distribution, or provision therefor, to or for the holders of such Senior Indebtedness of the Company. The provisions of this Section 5.03 4.3 shall not apply to any payment with respect to which Section 5.02 4.2 would be applicable.