Common use of Rescission of Acceleration Clause in Contracts

Rescission of Acceleration. If the Notes shall have been declared immediately due and payable pursuant to paragraph 7A, the Required Holder(s) may rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded (1) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, (2) all arrears of interest on all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, or premium on the Notes which has become due and payable solely by reason of such declaration) shall have been duly paid, and (3) each and every other Default and Event of Default shall have been made good, cured, or waived pursuant to paragraph 11C, and further provided, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.

Appears in 2 contracts

Sources: Note Agreement (PMC Capital Inc), Note Agreement (PMC Capital Inc)

Rescission of Acceleration. If The provisions of Section 6.3 are subject to the Notes shall have condition that if the principal of and accrued interest on the outstanding Note has been declared immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default, the Required Holder(s) may holder may, by written notice to the Company, rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has shall have been entered for the payment of any monies due pursuant to the Notes Note or this Agreement, ; (2b) all arrears of interest on all of upon the Notes Note and all other sums payable under the Notes Note and under this Agreement (except any principal, interest, principal or premium interest on the Notes Note which has become due and payable solely by reason of such declarationdeclaration under Section 6.3) shall have been duly paid, and ; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, Section 7.1; and further providedprovided further, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.

Appears in 2 contracts

Sources: Note Agreement (Standard Management Corp), Note Agreement (Standard Management Corp)

Rescission of Acceleration. If The provisions of Section 9.02 are subject to the condition that if the Principal of and accrued interest on the Notes shall have been declared immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default described in Section 9.01(e)(ii), the Required Holder(s) may Lenders may, by written instrument filed with the Borrower, rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, ; (2b) all arrears of interest on and Principal upon all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, or premium on the Notes which has become due and payable solely by reason of such declaration) shall have been duly paid, and unless the same specifically has been waived in writing by the Required Lenders; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, waived; and provided further provided, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.

Appears in 2 contracts

Sources: Subordination Agreement (General Finance CORP), Subordination Agreement (General Finance CORP)

Rescission of Acceleration. If The provisions of Section 6.3 are subject to the condition that if the principal of and accrued interest on all or any outstanding Notes shall have been declared immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default described in paragraphs (a) through (i), inclusive, of Section 6.1, the Required Holder(s) may holders of not less than 75% in aggregate principal amount of the Notes then outstanding may, by written instrument filed with the Company, rescind and annul such declaration and the consequences thereof, ; provided that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this the Agreement, ; (2b) all arrears of interest on all of the Notes and all other sums payable under the Notes and under this the Agreement (except any principal, interest, interest or premium on the Notes which has become due and payable solely by reason of such declarationdeclaration under Section 6.3) shall have been duly paid, and ; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, Section 7.1; and provided further provided, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.

Appears in 2 contracts

Sources: Note Agreement (Johnson Worldwide Associates Inc), Note Agreement (Johnson Worldwide Associates Inc)

Rescission of Acceleration. If The provisions of Section 6.3 are subject to the condition that if the principal of and accrued interest on all or any outstanding Notes shall have been declared immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default described in paragraphs (a) through (i), inclusive, of Section 6.1, the Required Holder(s) may holders of 66-2/3% in aggregate principal amount of the Notes then outstanding may, by written instrument filed with the Company, rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, ; (2b) all arrears of interest on upon all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, interest or premium on the Notes which has become due and payable solely by reason of such declarationdeclaration under Section 6.3) shall have been duly paid, and ; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, Section 7.1; and further providedprovided further, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.

Appears in 2 contracts

Sources: Restatement and Exchange Agreement (Penford Corp), Note Agreement (Allied Capital Corp)

Rescission of Acceleration. If At any time after all of the Notes shall have been declared immediately due and payable pursuant to paragraph 7A, the Required Holder(s) may may, by notice in writing to the Company, rescind and annul such declaration and its consequences if (i) the consequences thereofCompany shall have paid all overdue interest on the Notes, provided that the principal of and Yield-Maintenance Amount, if any, payable with respect to any Notes which have become due otherwise than by reason of such declaration, and interest on such overdue interest and overdue principal and Yield-Maintenance Amount at the time rate specified in the Notes, (ii) the Company shall not have paid any amounts which have become due solely by reason of such declaration is annulled declaration, (iii) all Events of Default and rescinded Defaults, other than non-payment of amounts which have become due solely by reason of such declaration, shall have been cured or waived pursuant to paragraph 12C, and (1iv) no judgment or decree has shall have been entered for the payment of any monies amounts due pursuant to the Notes or this Agreement, Agreement (2) all arrears of interest on all of the Notes and all other sums payable under the Notes and under as this Agreement (except any principal, interest, or premium on pertains to the Notes which has become due and payable solely by reason of such declaration) shall have been duly paid, and (3) each and every other Default and Event of Default shall have been made good, cured, or waived pursuant to paragraph 11C, and further provided, that no Notes). No such rescission and or annulment shall extend to or affect any subsequent Event of Default or Event of Default or impair any right consequent theretoarising therefrom.

Appears in 2 contracts

Sources: Note Purchase and Private Shelf Agreement (Alexander & Baldwin Inc), Note Purchase and Private Shelf Agreement (Alexander & Baldwin Holdings, Inc.)

Rescission of Acceleration. If The provisions of Section 6.3 are subject to the condition that if the principal of and accrued interest on all or any outstanding Notes shall of a Series have been declared immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default described in paragraphs (a) through (i), inclusive, of Section 6.1, the Required Holder(s) may Holders holding more than 66-2/3% in aggregate principal amount of the Notes of such Series then outstanding may, by written instrument filed with the Company, rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, ; (2b) all arrears of interest on upon all of the Notes of such Series and all other sums payable under the such Notes and under this Agreement (except any principal, interest, interest or premium on the such Notes which has become due and payable solely by reason of such declarationdeclaration under Section 6.3) shall have been duly paid, and ; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, Section 7.1; and further providedprovided further, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.

Appears in 1 contract

Sources: Note Agreement (Semco Energy Inc)

Rescission of Acceleration. If The provisions of Section 6.3 are subject to the condition that if the principal of and accrued interest on all or any outstanding Notes shall have been declared immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default described in paragraphs (d) through (l), inclusive, of Section 6.1, the Required Holder(s) may Holders holding 66-2/3% in aggregate principal amount of the Notes then outstanding may, by written instrument filed with the Company, rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, ; (2b) all arrears of interest on upon all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, interest or premium on the Notes which has become due and payable solely by reason of such declarationdeclaration under Section 6.3) shall have been duly paid, and ; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, Section 7.1; and further providedprovided further, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.

Appears in 1 contract

Sources: Note Agreement (Cherry Corp)

Rescission of Acceleration. If The provisions of Section 6.3 are subject to the condition that if the principal of and accrued interest on all or any outstanding Notes shall have been declared or have become immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default described in Sections 6.1 (a) through (e), inclusive, then (i) for any such declaration by a holder as the result of an Event of Default described in Section 6.1(a), such holder or (ii) for any such declaration as the result of the Event of Default described in Sections 6.1 (b) through (e), the Required Holder(s) holders of at least 51% of the unpaid principal amount of all Notes then outstanding (other than any Notes held by the Company or any Subsidiary or Affiliate), may by written instrument filed with the Company, rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, ; (2b) all arrears of interest on upon all of the Notes and all other sums payable under the Notes Note and under this Agreement (except any principal, interest, interest or premium on the Notes which has become due and payable solely by reason of such declarationdeclaration under Section 6.3) shall have been duly paid, and ; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, Section 7.1 and further providedthe Company shall have paid all of Purchaser's costs and expenses as provided for in Section 9.4; and provided further, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.

Appears in 1 contract

Sources: Note Purchase Agreement (Kmart Corp)

Rescission of Acceleration. If At any time after all of the Notes shall have been declared immediately due and payable pursuant to paragraph 7A7A(c) hereof by any holder or holders of Notes, then and in every such case, the Required Holder(s) may Holders may, by written instrument filed with the Company and such holder or holders, rescind and annul such declaration declaration, and the consequences thereof, provided that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has shall have been entered for the payment of any monies moneys due on or pursuant to the Notes or this Agreement, ; (2b) all arrears of interest on upon all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interestprincipal of, or premium on interest or Yield-Maintenance Amount on, the Notes which has that shall have become due and payable solely by reason of such declarationdeclaration under paragraph 7A) shall have been duly paid, and ; and (3c) each and every other Default and Event of Default shall have been made good, cured, or waived pursuant to paragraph 11C, and further provided, that no 11C hereof or otherwise made good or cured. No such rescission and annulment shall extend to or affect any subsequent Event of Default or Event of Default or impair any right consequent theretothereon.

Appears in 1 contract

Sources: Note Agreement (Genencor International Inc)

Rescission of Acceleration. If The provisions of Section 6.3 are subject to the condition that if the principal of and accrued interest on all or any outstanding Notes shall have been declared immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default described in paragraphs (a) through (n), inclusive, of Section 6.1, the Required Holder(s) may holders of 66-2/3% in aggregate principal amount of the Notes then outstanding may, by written instrument filed with the Company, rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, ; (2b) all arrears of interest on upon all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, interest or premium on the Notes which has become due and payable solely by reason of such declarationdeclaration under Section 6.3) shall have been duly paid, and ; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, Section 7.1; and further providedprovided further, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.

Appears in 1 contract

Sources: Note Agreement (Connecticut Water Service Inc / Ct)

Rescission of Acceleration. If At any time after any or all of the Notes shall have been declared immediately due and payable pursuant to paragraph 7A8A, the Required Holder(s) may holders of a majority of the Notes may, by notice in writing to the Company, rescind and annul such declaration and its consequences if (i) the consequences thereofCompany shall have paid all overdue interest on the Notes, provided that the principal of and premium, if any, payable with respect to any Notes which have become due otherwise than by reason of such declaration, and interest on such overdue interest and overdue principal and premium at the time rate specified in the Notes, (ii) the Company shall not have paid any amounts which have become due solely by reason of such declaration is annulled declaration, (iii) all Events of Default and rescinded Defaults, other than non-payment of amounts which have become due solely by reason of such declaration, shall have been cured or waived pursuant to paragraph 14C, and (1iv) no judgment or decree has shall have been entered for the payment of any monies amounts due pursuant to the Notes or this Agreement, (2) all arrears of interest on all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, or premium on the Notes which has become due and payable solely by reason of such declaration) shall have been duly paid, and (3) each and every other Default and Event of Default shall have been made good, cured, or waived pursuant to paragraph 11C, and further provided, that no . No such rescission and or annulment shall extend to or affect any subsequent Event of Default or Event of Default or impair any right consequent theretoarising therefrom.

Appears in 1 contract

Sources: Securities Purchase Agreement (Family Christian Stores Inc)

Rescission of Acceleration. If The provisions of SECTION 6.3 are subject to the condition that if the principal of and accrued interest on all or any outstanding Notes shall have been declared immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default described in paragraphs (a) through (i), inclusive, of SECTION 6.1, the Required Holder(s) may Holders of 66-2/3% in aggregate principal amount of the Notes then outstanding may, by written instrument filed with the Company, rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, ; (2b) all arrears of interest on upon all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, interest or premium on the Notes which has become due and payable solely by reason of such declarationdeclaration under SECTION 6.3) shall have been duly paid, and ; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, SECTION 7.1; and further providedprovided further, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.

Appears in 1 contract

Sources: Note Agreement (Allied Capital Corp)

Rescission of Acceleration. If The provisions of Section 9.01 are subject to the condition that if the Principal of and accrued interest on the Notes shall have been declared immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default described in Section 9.01(e)(ii), the Required Holder(s) may Lenders may, by written instrument filed with the Company, rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, ; (2b) all arrears of interest on and Principal upon all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, or premium on the Notes which has become due and payable solely by reason of such declaration) shall have been duly paid, and unless the same specifically has been waived in writing by the Required Lenders; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, waived; and provided further provided, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.

Appears in 1 contract

Sources: Investment Agreement (Palace Entertainment Holdings, Inc.)

Rescission of Acceleration. If The provisions of Section 6.3 are subject to the condition that if the principal of and accrued interest on all or any outstanding Notes shall have been declared immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default described in paragraphs (a) through (i), inclusive, of Section 6.1, the Required Holder(s) may holders of 66-2/3% in aggregate principal amount of the Notes then outstanding may, by written instrument filed with the Company, rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, ; (2b) all arrears of interest on upon all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, interest or premium Make-Whole Amount on the Notes which has become due and payable solely by reason of such declarationdeclaration under Section 6.3) shall have been duly paid, and ; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, Section 7.1; and further providedprovided further, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.

Appears in 1 contract

Sources: Note Agreement (Wolverine World Wide Inc /De/)

Rescission of Acceleration. If The provisions of Section 6.3 are subject to the condition that if the principal of and accrued interest on all or any outstanding Notes shall have been declared immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default described in clause (a), (b), (c), (d), (e), (f), (g), (h), (m), (n) or (o) of Section 6.1, the Required Holder(s) holders of at least 66 2/3% in aggregate principal amount of the Notes then outstanding may rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, ; (2b) all arrears of interest on upon all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, interest or premium on the Notes which has become due and payable solely by reason of such declarationdeclaration under Section 6.3) shall have been duly paid, and ; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11CSection 7.1; and provided, and further providedfurther, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto. Such annulment and rescission shall be by written instrument filed with the Parent.

Appears in 1 contract

Sources: Note Agreement (Intertape Polymer Group Inc)

Rescission of Acceleration. If The provisions of Section 6.3 are subject to the condition that if any outstanding Notes shall have been declared or have become immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default described in paragraphs (a) through (f), inclusive, of Section 6.1, or an Event of Default described in paragraphs (h) through (o), inclusive, of Section 6.1, then the Required Holder(s) may holders of Notes representing a majority of the principal amount of the Notes outstanding excluding in each case any Notes held by the Company or any Subsidiary or Affiliate of the Company, may, by written instrument filed with the Company, rescind and annul such declaration and the consequences thereof, provided ; PROVIDED that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, ; (2b) all arrears of interest on upon all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, interest or premium on the Notes which has become due and payable solely by reason of such declarationdeclaration under Section 6.3) shall have been duly paid, and ; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, Section 7.1 and further providedthe Company shall have paid all of Purchaser's costs and expenses as provided for in Section 9.4; and PROVIDED further, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.

Appears in 1 contract

Sources: Note Purchase Agreement (Health Care Reit Inc /De/)

Rescission of Acceleration. If The provisions of Section 13.2 are subject to the condition that if the principal of and accrued interest on all or any outstanding Notes shall have been declared immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default described in subdivisions (a) through (f), inclusive, or subdivision (j) of Section 13.1, the Required Holder(s) may holders of 66- 2/3% in aggregate principal amount of the Notes then outstanding may, by written instrument filed with the Company, rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, ; (2b) all arrears of interest on upon all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, interest or premium on the Notes which has become due and payable solely by reason of such declarationdeclaration under Section 13.2) shall have been duly paid, and ; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, Section 18; and further providedprovided further, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.

Appears in 1 contract

Sources: Note Agreement (New England Electric System)

Rescission of Acceleration. If The provisions of Section 6.3 are subject to the condition that if the principal of and accrued interest on all or any outstanding Notes shall have been declared immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default described in paragraphs (a) through (g), inclusive, of Section 6.1, the Required Holder(s) may holders of more than 50% in aggregate principal amount of the Notes then outstanding may, by written instrument filed with the Company, rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, ; (2b) all arrears of interest on upon all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, interest or premium on the Notes which has become due and payable solely by reason of such declarationdeclaration under Section 6.3) shall have been duly paid, and ; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, Section 7.1; and further providedprovided further, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.

Appears in 1 contract

Sources: Note Purchase Agreement (Value Partners LTD /Tx/)

Rescission of Acceleration. If The provisions of §6.3 are subject to the condition that if the principal of and accrued interest on all or any outstanding Notes shall of a Series have been declared immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default described in paragraphs (a) through (k), inclusive, of §6.1, the Required Holder(s) may holders of 51 % in aggregate principal amount of the Notes of such Series then outstanding may, by written instrument filed with the Company, rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes of such Series or this Agreement, ; (2b) all arrears of interest on upon all of the Notes of such Series and all other sums payable under the Notes and under this Agreement (except any principal, interest, interest or premium on the such Notes which has become due and payable solely by reason of such declarationdeclaration under §6.3) shall have been duly paid, and ; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, §7.1; and further providedprovided further, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.

Appears in 1 contract

Sources: Note Agreement (Cabelas Inc)

Rescission of Acceleration. If The provisions of §6.3 are subject to the condition that if the principal of and accrued interest on all or any outstanding Notes shall have been declared immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default described in paragraphs (a) through (i), inclusive, of §6.1, the Required Holder(s) may holders of 66-2/3% in aggregate principal amount of the Notes then outstanding may, by written instrument filed with the Company, rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, Agreement (2including any Supplement); (b) all arrears of interest on upon all of the Notes and all other sums payable under the Notes and under this Agreement (including any Supplement) (except any principal, interestinterest or Premium, or premium if any, on the Notes which has become due and payable solely by reason of such declarationdeclaration under §6.3) shall have been duly paid, and ; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, §7.1; and further providedprovided further, that no such rescission and annulment under this §6.4 shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.

Appears in 1 contract

Sources: Note Agreement (Allied Capital Corp)

Rescission of Acceleration. If The provisions of §6.3 are subject to the condition that if the principal of and accrued interest on all or any outstanding Notes shall have been declared immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default described in paragraphs (a) through (g), inclusive, and paragraphs (k) through (m), inclusive, of §6.1, the Required Holder(s) may holders of 662/3% in aggregate principal amount of the Notes then outstanding may, by written instrument filed with the Company, rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, ; (2b) all arrears of interest on upon all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, interest or premium on the Notes which has become due and payable solely by reason of such declarationdeclaration under §6.3) shall have been duly paid, and ; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, §7.1; and further providedprovided further, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.

Appears in 1 contract

Sources: Note Agreement (K2 Inc)

Rescission of Acceleration. If At any time after any or all of the Notes Convertible Debentures shall have been declared immediately due and payable pursuant to Section 9.01 the Purchaser may, by notice in writing to paragraph 7Athe Company, the Required Holder(s) may rescind and annul such declaration and its consequences if (i) the consequences thereofCompany shall have paid all overdue interest on the Convertible Debentures, provided that the principal payable with respect to any Convertible Debentures which have become due otherwise than by reason of such declaration, and interest on such overdue interest and overdue principal at the time rate specified in the Convertible Debentures, (ii) the Company shall not have paid any amounts which have become due solely by reason of such declaration is annulled declaration, (iii) all Events of Default and rescinded Defaults, other than non-payment of amounts which have become due solely by reason of such declaration, shall have been cured or waived pursuant to Section 10.03, and (1iv) no judgment or decree has shall have been entered for the payment of any monies amounts due pursuant to the Notes Convertible Debentures or this Agreement, (2) all arrears of interest on all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, or premium on the Notes which has become due and payable solely by reason of such declaration) shall have been duly paid, and (3) each and every other Default and Event of Default shall have been made good, cured, or waived pursuant to paragraph 11C, and further provided, that no . No such rescission and or annulment shall extend to or affect any subsequent Event of Default or Event of Default or impair any right consequent theretoarising therefrom.

Appears in 1 contract

Sources: Convertible Debenture Purchase Agreement (Air South Airlines Inc)

Rescission of Acceleration. If The provisions of SECTION 6.3 are subject to the condition that if the principal of and accrued interest on all or any outstanding Notes shall have been declared immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default described in paragraphs (a) through (i), inclusive, of SECTION 6.1, the Required Holder(s) may holders of 66-2/3% in aggregate principal amount of the Notes then outstanding may, by written instrument filed with the Company, rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, ; (2b) all arrears of interest on upon all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, interest or premium on the Notes which has become due and payable solely by reason of such declarationdeclaration under SECTION 6.3) shall have been duly paid, and ; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, SECTION 7.1; and further providedprovided further, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.

Appears in 1 contract

Sources: Note Agreement (Allied Capital Corp)

Rescission of Acceleration. If At any time after any or all of the Notes shall have been are declared immediately due and payable pursuant to paragraph 7Aand have not been paid in full, the Required Holder(s) may may, by notice in writing to the Company, rescind and annul such declaration and its consequences if (i) the consequences thereofCompany has paid all overdue interest and Credit Fees on the Notes, provided that the principal of and Yield-Maintenance Amount, if any, payable with respect to any Notes which have become due otherwise than by reason of such declaration, and interest (at the time rate specified in the Notes) and Credit Fees on such overdue interest and Credit Fees and overdue principal and Yield-Maintenance Amount at the rate specified in the Notes, (ii) all Events of Default and Defaults, other than non-payment of amounts which have become due solely by reason of such declaration is annulled have been cured or waived pursuant to paragraph 11C, and rescinded (1iii) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, (2) all arrears of interest on all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, or premium on the Notes which has become due and payable solely by reason of such declaration) shall have been duly paid, and (3) each and every other Default and Event of Default shall have been made good, cured, or waived pursuant to paragraph 11C, and further provided, that no . No such rescission and or annulment shall extend to or affect any subsequent Event of Default or Event of Default or impair any right consequent theretoarising therefrom.

Appears in 1 contract

Sources: Master Shelf Agreement (Western Gas Resources Inc)

Rescission of Acceleration. If The provisions of Section 6.3 are subject to the condition that if any outstanding Notes shall have been declared or have become immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default described in paragraphs (a) through (f), inclusive, of Section 6.1, or an Event of Default described in paragraphs (h) through (o), inclusive, of Section 6.1, then the Required Holder(s) Holders may by written instrument filed with the Company, rescind and annul such declaration and the consequences thereof, provided ; PROVIDED that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, ; (2b) all arrears of interest on upon all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, interest or premium on the Notes which has become due and payable solely by reason of such declarationdeclaration under Section 6.3) shall have been duly paid, and ; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, Section 7.1 and further providedthe Company shall have paid all of Purchaser's costs and expenses as provided for in Section 9.4; and PROVIDED further, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.

Appears in 1 contract

Sources: Note Purchase Agreement (Health Care Reit Inc /De/)

Rescission of Acceleration. If At any time after any or all of the Notes shall have been declared immediately due and payable pursuant to paragraph 7A8A (other than pursuant to clauses (vii), (viii) or (ix) thereof), the Required Holder(s) may holder or holders of at least a majority of the aggregate principal amount of Notes then outstanding may, by notice in writing to the Obligors, rescind and annul such declaration and its consequences if (i) the consequences thereofObligors shall have paid all overdue interest on the Notes, provided that the principal of the Notes which has become due otherwise than by reason of such declaration, and interest on such overdue interest and overdue principal at the time rate specified in the Notes, (ii) the Obligors shall not have paid any amounts which have become due solely by reason of such declaration is annulled declaration, (iii) all Events of Default and rescinded Defaults, other than non-payment of amounts which have become due solely by reason of such declaration, shall have been cured or waived pursuant to paragraph 12C, and (1iv) no judgment or decree has shall have been entered for the payment of any monies amounts due pursuant to the Notes or this Agreement, (2) all arrears of interest on all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, or premium on the Notes which has become due and payable solely by reason of such declaration) shall have been duly paid, and (3) each and every other Default and Event of Default shall have been made good, cured, or waived pursuant to paragraph 11C, and further provided, that no . No such rescission and or annulment shall extend to or affect any subsequent Event of Default or Event of Default or impair any right consequent theretoarising therefrom.

Appears in 1 contract

Sources: Note Agreement (Lee Enterprises, Inc)

Rescission of Acceleration. If The provisions of Section 7.3 are subject to the condition that if the principal of and accrued interest on all or any outstanding Notes shall have been declared immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default described in paragraphs (a) through (h), inclusive, of Section 7.1, the Required Holder(s) may holders of a majority in aggregate principal amount of the Notes then outstanding may, by written instrument filed with the Company, rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded or rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, ; (2b) all arrears of interest on upon all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interestinterest or premium, or premium if any, on the Notes which that has become due and payable solely by reason of such declarationdeclaration under Section 7.3) shall have been duly paid, and ; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, Section 7.1; and further providedprovided further, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent theretothereto or the right of any holder to elect to convert any Note.

Appears in 1 contract

Sources: Purchase Agreement (Dental Medical Diagnostic Systems Inc)

Rescission of Acceleration. If At any time after any or all of the Shelf Notes shall have been declared immediately due and payable pursuant to paragraph 7A, the Required Holder(s) may may, by notice in writing to the Company, rescind and annul such declaration and its consequences if (i) the consequences thereofCompany shall have paid all overdue interest on the Shelf Notes, provided that the principal of and Yield-Maintenance Amount, if any, payable with respect to any Shelf Notes which have become due otherwise than by reason of such declaration, and interest on such overdue interest and overdue principal and Yield-Maintenance Amount at the time such declaration is annulled and rescinded (1) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this AgreementDefault Rate, (2ii) all arrears of interest on all of the Notes and all other sums payable under the Notes and under this Agreement (except Company shall not have paid any principal, interest, or premium on the Notes amounts which has have become due and payable solely by reason of such declaration, (iii) all Events of Default and Defaults, other than non-payment of amounts which have become due solely by reason of such declaration, shall have been duly paid, and (3) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, and further provided, that (iv) no judgment or decree shall have been entered for the payment of any amounts due pursuant to the Shelf Notes of such Series or this Agreement. No such rescission and or annulment shall extend to or affect any subsequent Event of Default or Event of Default or impair any right consequent theretoarising therefrom.

Appears in 1 contract

Sources: Private Shelf Agreement (Tennant Co)

Rescission of Acceleration. If The provisions of SECTION 6.3 are subject to the condition that if the principal of, premium, if any, and accrued interest on all or any outstanding Notes shall have been declared immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default described in paragraphs (a) through (l), inclusive, of SECTION 6.1, the Required Holder(s) may Holders holding 66-2/3% in aggregate principal amount of the Notes then outstanding may, by written instrument filed with the Company, rescind and annul such declaration and the consequences thereof, provided PROVIDED that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, (2b) all arrears of interest on upon all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, interest or premium on the Notes which has become due and payable solely by reason of such declarationdeclaration under SECTION 6.3) shall have been duly paid, and paid and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, SECTION 7.1 and further providedPROVIDED FURTHER, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.

Appears in 1 contract

Sources: Note Purchase Agreement (Crown Pacific Partners L P)

Rescission of Acceleration. If The provisions of Section 9.01 are subject to the condition that if the Principal of and accrued interest on the Notes shall have been declared immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default described in Section 9.01(e)(ii), the Required Holder(s) may Lenders may, by written instrument filed with the Borrowers, rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, ; (2b) all arrears of interest on and Principal upon all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, or premium on the Notes which has become due and payable solely by reason of such declaration) shall have been duly paid, and unless the same specifically has been waived in writing by the Required Lenders; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, waived; and provided further provided, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.

Appears in 1 contract

Sources: Investment Agreement (Parent Co)

Rescission of Acceleration. If The provisions of subsection 8.3 are subject to the condition that if the principal of and accrued interest on the Notes shall have been declared immediately due and payable pursuant to by reason of the occurrence of any Event of Default described in paragraphs (a) through (i), inclusive, and paragraph 7A(l), of subsection 8.1, the Required Holder(s) may holders of 66-2/3% in aggregate principal amount of the Notes then outstanding may, by written instrument filed with the Company, rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, ; (2b) all arrears of interest on upon all of the Notes and or all other sums payable under the Notes and under this Agreement (except any principal, interest, interest or premium on the Notes which has become due and payable solely by reason of such declarationdeclaration under subsection 8.3) shall have been duly paid, and ; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, subsection 9.1; and provided further provided, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.

Appears in 1 contract

Sources: Note Purchase Agreement (Outlook Group Corp)

Rescission of Acceleration. If The provisions of Section 13.1 are subject to the condition that if the principal of and accrued interest on all or any outstanding Notes shall have been declared immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default described in subdivisions (a) through (f), (h) or (j) of Section 13.1, the Required Holder(s) may holders of 66-2/3% in aggregate principal amount of the Notes then outstanding may, by written instrument filed with the Company, rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, ; (2b) all arrears of interest on upon all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, interest or premium on the Notes which has become due and payable solely by reason of such declarationdeclaration under Section 13.1) shall have been duly paid, and ; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, Section 17; and further providedprovided further, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.

Appears in 1 contract

Sources: Note Agreement (Unitil Corp)

Rescission of Acceleration. If At any time after any or all of the Notes shall have been declared immediately due and payable pursuant to paragraph 7A8A, the Required Holder(s) may may, by notice in writing to the ESOP, rescind and annul such declaration and its consequences if (i) the consequences thereofESOP shall have paid all overdue interest on the Notes, provided that the principal of and Yield-Maintenance Amount, if any, payable with respect to any Notes which have become due otherwise than by reason of such declaration, and interest on such overdue interest and overdue principal and Yield-Maintenance Amount at the time rate specified in the Notes, (ii) the ESOP shall not have paid any amounts which have become due solely by reason of such declaration is annulled declaration, (iii) all Events of Default and rescinded Defaults, other than non-payment of amounts which have become due solely by reason of such declaration, shall have been cured or waived pursuant to paragraph 12C, and (1iv) no judgment or decree has shall have been entered for the payment of any monies amounts due pursuant to the Notes or this Agreement, (2) all arrears of interest on all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, or premium on the Notes which has become due and payable solely by reason of such declaration) shall have been duly paid, and (3) each and every other Default and Event of Default shall have been made good, cured, or waived pursuant to paragraph 11C, and further provided, that no . No such rescission and or annulment shall extend to or affect any subsequent Event of Default or Event of Default or impair any right consequent theretoarising therefrom.

Appears in 1 contract

Sources: Note Agreement (Buckeye Partners L P)

Rescission of Acceleration. If The provisions of (S)7.3 are subject to the condition that if the principal of and accrued interest on all or any outstanding Notes shall have been declared immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default described in paragraphs (a) through (k), inclusive, of (S)7.1, the Required Holder(s) may holders of 51% in aggregate principal amount of the Notes then outstanding may, by written instrument filed with the Company, rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, ; (2b) all arrears of interest on upon all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, interest or premium on the Notes which has become due and payable solely by reason of such declarationdeclaration under (S)7.3) shall have been duly paid, and ; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, (S)7.1; and further providedprovided further, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.

Appears in 1 contract

Sources: Note Agreement (Shade Acquisition Inc)

Rescission of Acceleration. If The provisions of Section 6.2 are -------------------------- subject to the condition that if the principal of and accrued interest on all or any outstanding Notes shall have been declared immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default, the Required Holder(s) holders of a majority in aggregate principal amount of the Notes then outstanding may within 90 days of the Notes becoming due and payable, by written instrument filed with the Company, rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, ; (2b) all arrears of interest on upon all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, principal or premium interest on the Notes which has become due and payable solely by reason of such declarationdeclaration under Section 6.2) shall have been duly paid, and ; (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, Section 7.1; and further providedprovided further, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.

Appears in 1 contract

Sources: Purchase Agreement (Worldcorp Inc)

Rescission of Acceleration. If At any time after any or all of the Notes shall have been declared immediately due and payable pursuant to paragraph 7A, the Required Holder(s) may may, by notice in writing to the Company, rescind and annul such declaration and its consequences if (i) the consequences thereofCompany shall have paid all overdue interest on the Notes, provided that the principal of and Yield-Maintenance Amount and Breakage Cost Obligations, if any, payable with respect to any Notes which have become due otherwise than by reason of such declaration, and interest on such overdue interest and overdue principal and Yield Maintenance Amount and Breakage Cost Obligations at the time rate specified in the Notes, (ii) the Company shall not have paid any amounts which have become due solely by reason of such declaration is annulled declaration, (iii) all Events of Default and rescinded Defaults, other than non-payment of amounts which have become due solely by reason of such declaration, shall have been cured or waived pursuant to paragraph 11C, and (1iv) no judgment or decree has shall have been entered for the payment of any monies amounts due pursuant to the Notes or this Agreement, (2) all arrears of interest on all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, or premium on the Notes which has become due and payable solely by reason of such declaration) shall have been duly paid, and (3) each and every other Default and Event of Default shall have been made good, cured, or waived pursuant to paragraph 11C, and further provided, that no . No such rescission and or annulment shall extend to or affect any subsequent Event of Default or Event of Default or impair any right consequent theretoarising therefrom.

Appears in 1 contract

Sources: Note Purchase Agreement (GMX Resources Inc)

Rescission of Acceleration. If The provisions of Section 6.3 are subject to the condition that if the principal of and accrued interest on all or any outstanding Notes shall have been declared or have become immediately due and payable pursuant to by reason of the occurrence of any Event of Default described in paragraphs (a) through (e), inclusive, of Section 6.1, then (i) for any such declaration by a holder as the result of an Event of Default described in paragraph 7A(a) of Section 6.1, such holder or (ii) for any such declaration as the result of the Event of Default described in paragraphs (b) through (e) of Section 6.1, the Required Holder(s) holders of at least 51% of the unpaid principal amount of all Notes then outstanding (other than any Notes held by the Company or any Subsidiary or Affiliate), may by written instrument filed with the Company, rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, ; (2b) all arrears of interest on upon all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, interest or premium on the Notes which has become due and payable solely by reason of such declarationdeclaration under Section 6.3) shall have been duly paid, and ; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, Section 7.1 and further providedthe Company shall have paid all of Purchaser's costs and expenses as provided for in Section 9.4; and provided further, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.

Appears in 1 contract

Sources: Note Purchase Agreement (Kmart Corp)

Rescission of Acceleration. If The provisions of Section 7.3 are subject to the condition that if the principal of and accrued interest on all or any outstanding Notes shall have been declared immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default described in paragraphs (a) through (h), inclusive, of Section 7.1, the Required Holder(s) may holders of a majority in aggregate principal amount of the Notes then outstanding may, by written instrument filed with the Company, rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded or rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, ; (2b) all arrears of interest on upon all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interestinterest or premium, or premium if any, on the Notes which that has become due and payable solely by reason of such declarationdeclaration under Section 7.3) shall have been duly paid, ; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, Section 7.1; and further providedprovided further, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent theretothereto or the right of any holder to elect to convert any Note. SECTION 8.

Appears in 1 contract

Sources: Purchase Agreement (Dental Medical Diagnostic Systems Inc)

Rescission of Acceleration. If At any time after any or all of the Guaranteed Senior Secured Escrow Notes shall have been declared immediately due and payable pursuant to paragraph 7Asubsection (b), the Required Holder(s) may Holders may, by notice in writing to the Company, rescind and annul such declaration and its consequences if (i) the consequences thereofCompany shall have paid all overdue interest on the Guaranteed Senior Secured Escrow Notes, provided that the principal of any Guaranteed Senior Secured Escrow Notes which have become due otherwise than by reason of such declaration, and interest on such overdue interest and overdue principal at the time rate specified in the Guaranteed Senior Secured Escrow Notes, (ii) the Company shall have paid any amounts which have become due solely by reason of such declaration is annulled declaration, (iii) all Events of Default and rescinded Defaults, other than non-payment of amounts which have become due solely by reason of such declaration, shall have been cured or waived and (1iv) no judgment or decree has shall have been entered for the payment of any monies amounts due pursuant to the Notes or this Agreement, (2) all arrears of interest on all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, or premium on the Notes which has become due and payable solely by reason of such declaration) shall have been duly paid, and (3) each and every other Default and Event of Default shall have been made good, cured, or waived pursuant to paragraph 11C, and further provided, that no Guaranteed Senior Secured Escrow Notes. No such rescission and or annulment shall extend to or affect any subsequent Event of Default or Event of Default or impair any right consequent theretoarising therefrom.

Appears in 1 contract

Sources: Securities Purchase Agreement (Intracel Corp)

Rescission of Acceleration. If The provisions of Section 7.3 are subject to the condition that if the principal of and accrued interest on the Notes shall have or either of them has been declared immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default described in paragraphs (a) through (h), inclusive, of Section 7.1, the Required Holder(s) may Lender may, by written instrument filed with the Borrower, rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, ; (2b) all arrears of interest on all of upon the Notes Note and all other sums payable under the Notes Note and under this Agreement (except any principal, interest, interest or premium on the Notes which Note or either of them that has become due and payable solely by reason of such declarationdeclaration under Section 7.3) shall have been duly paid, and ; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, Section 7; and further providedprovided further, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.

Appears in 1 contract

Sources: Credit and Security Agreement (Computer Outsourcing Services Inc)

Rescission of Acceleration. If The provisions of Section 6.3 are subject to the condition that if the principal of and accrued interest on all or any outstanding Notes shall have been declared or have become immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default described in Sections 6.1 (a) through (e), inclusive, then (i) for any such declaration by a holder as the result of an Event of Default described in Section 6.1(a), such holder or (ii) for any such declaration as the result of the Event of Default described in Sections 6.1 (b) through (e), the Required Holder(s) holders of at least 75% of the unpaid principal amount of all Notes then outstanding (other than any Notes held by the Company or any Subsidiary or Affiliate), may by written instrument filed with the Company, rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, ; (2b) all arrears of interest on upon all of the Notes and all other sums payable under the Notes Note and under this Agreement (except any principal, interest, interest or premium on the Notes which has become due and payable solely by reason of such declarationdeclaration under Section 6.3) shall have been duly paid, and ; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, Section 7.1 and further providedthe Company shall have paid all of Purchaser's costs and expenses as provided for in Section 9.4; and provided further, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.

Appears in 1 contract

Sources: Note Purchase Agreement (Kmart Corp)

Rescission of Acceleration. If The provisions of Section 6.3 are subject to the condition that if the principal of, premium, if any, and accrued interest on all or any outstanding Notes shall have been declared immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default described in paragraphs (a) through (l), inclusive, of Section 6.1, the Required Holder(s) may Holders holding 66-2/3% in aggregate principal amount of the Notes then outstanding may, by written instrument filed with the Company, rescind and annul such declaration and the consequences thereof, provided PROVIDED that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, ; (2b) all arrears of interest on upon all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, interest or premium on the Notes which has become due and payable solely by reason of such declarationdeclaration under Section 6.3) shall have been duly paid, and ; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, Section 7.1; and further providedPROVIDED FURTHER, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.

Appears in 1 contract

Sources: Note Purchase Agreement (Crown Pacific Partners L P)

Rescission of Acceleration. If The provisions of Section 14.3 are subject to the condition that if the principal of, and accrued interest on, all or any outstanding Senior Notes shall have been declared immediately due and payable pursuant to paragraph 7Aby the Required Holders by reason of the occurrence of any Event of Default described in paragraphs (a) through (i), inclusive, (l) or (m) of Section 14.1, the Required Holder(s) may holders of 66 2/3% in aggregate principal amount of the Senior Notes then outstanding may, by written instrument filed with the Company, rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Senior Notes or this Agreement, ; (2b) all arrears of interest on upon all of the Senior Notes and all other sums payable under the Senior Notes and under this Agreement (except any principal, interestinterest or Make-Whole Amount, or premium if any, on the Notes Senior Notes) which has become due and payable solely by reason of such declarationdeclaration under Section 14.3) shall have been duly paid, and ; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, Section 17.1; and further providedprovided further, that no such rescission and annulment under this Section 14.4 shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.

Appears in 1 contract

Sources: Note Agreement (Allied Capital Corp)

Rescission of Acceleration. If The provisions of Section 9.01 are subject to the Notes shall condition that if the Principal of and accrued interest on the Loans have been declared immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default described in Section 9.01(e)(ii), the Required Holder(s) may Lenders may, by written instrument filed with the Borrowers, rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, ; (2b) all arrears of interest on and Principal upon all of the Notes Loans and all other sums payable under the Notes and under this Agreement (except any principal, interest, or premium on the Notes which has become due and payable solely by reason of such declaration) shall have been duly paid, and unless the same specifically has been waived in writing by the Required Lenders; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, waived; and provided further provided, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.

Appears in 1 contract

Sources: Debt Agreement (D. E. Shaw Laminar Acquisition Holdings 3, L.L.C.)

Rescission of Acceleration. If At any time after any or all of the Notes shall have been declared immediately due and payable pursuant to paragraph 7A, the Required Holder(s) may of the Notes may, by notice in writing to the Company, rescind and annul such declaration and its consequences if: (i) the consequences thereofCompany shall have paid all overdue interest on the Notes, provided that the principal of and Yield-Maintenance Amount, if any, payable with respect to any Notes which have become due otherwise than by reason of such declaration, and interest on such overdue interest and overdue principal and Yield-Maintenance Amount at the time rate specified in the Notes, (ii) the Company shall not have paid any amounts which have become due solely by reason of such declaration is annulled declaration, (iii) all Events of Default and rescinded Defaults, other than non-payment of amounts which have become due solely by reason of such declaration, shall have been cured or waived pursuant to paragraph 11C, and (1iv) no judgment or decree has shall have been entered for the payment of any monies amounts due pursuant to the Notes or this Agreement, (2) all arrears of interest on all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, or premium on the Notes which has become due and payable solely by reason of such declaration) shall have been duly paid, and (3) each and every other Default and Event of Default shall have been made good, cured, or waived pursuant to paragraph 11C, and further provided, that no . No such rescission and or annulment shall extend to or affect any subsequent Event of Default or Event of Default or impair any right consequent theretoarising therefrom.

Appears in 1 contract

Sources: Note Purchase Agreement (Waste Industries Usa Inc)

Rescission of Acceleration. If The provisions of Section 6.3 are subject to the condition that if the principal of and accrued interest on all or any outstanding Notes shall have been declared immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default described in paragraphs (a) through (g), inclusive, of Section 6.1, the Required Holder(s) may holders of 66-2/3% in aggregate principal amount of the Notes then outstanding may, by written instrument filed with the Company, rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, ; (2b) all arrears of interest on upon all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, interest or premium Make-Whole Amount on the Notes which has become due and payable solely by reason of such declarationdeclaration under Section 6.3) shall have been duly paid, and ; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, Section 7.1; and further providedprovided further, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.

Appears in 1 contract

Sources: Note Agreement (Cleveland Cliffs Inc)

Rescission of Acceleration. If The provisions of Section 9.02 are subject to the condition that if the principal of and accrued interest on the Notes shall have been declared immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default other than those described in Section 9.01(f) or Section 9.01(g), the Required Holder(s) may Lenders may, by written instrument filed with the Borrower, rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, ; (2b) all arrears of interest on and principal upon all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, or premium on the Notes which has become due and payable solely by reason of such declaration) shall have been duly paid, and unless the same specifically has been waived in writing by the Required Lenders; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, waived; and further provided, provided that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.

Appears in 1 contract

Sources: Credit Agreement (DelStaff, LLC)

Rescission of Acceleration. If The provisions of paragraph 7(b) are subject to the condition that if the principal of and accrued interest on all or any outstanding Notes shall have been declared immediately due and payable pursuant to by reason of the occurrence of any Event of Default described in clauses (i), (ii), (v), (vi), (vii) or (viii) of paragraph 7A7(a), the Required Holder(s) may holders of 68% in aggregate principal amount of the Notes then outstanding may, by written instrument filed with the Company, rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded rescinded: (1i) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, ; (2ii) all arrears of interest on upon all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, interest or premium on the Notes which has become due and payable solely by reason of such declarationdeclaration under paragraph 7(b)) shall have been duly paid, and ; and (3iii) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C13(c); and provided, and further providedfurther, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.

Appears in 1 contract

Sources: Note Purchase Agreement (Sheldahl Inc)

Rescission of Acceleration. If The provisions of Section 13.1 are subject to the condition that if the principal of and accrued interest on all or any outstanding Notes shall have been declared immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default described in subdivisions (a) through (f), (h) or (j) of Section 13.1, the Required Holder(s) may holders of 66 2/3% in aggregate principal amount of the Notes then outstanding may, by written instrument filed with the Company, rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, ; (2b) all arrears of interest on upon all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, interest or premium on the Notes which has become due and payable solely by reason of such declarationdeclaration under Section 13.1) shall have been duly paid, and ; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, Section 17; and further providedprovided further, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto. SECTION 14. DEFINITIONS; ACCOUNTING PRINCIPLES.

Appears in 1 contract

Sources: Note Agreement (Unitil Corp)

Rescission of Acceleration. If the Notes Principal of and accrued interest on the Loans shall have been declared immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default, the Agent may, and upon the written instruction of the Required Holder(s) may Lenders shall, by written instrument filed with the Borrower, rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, ; (2b) all arrears of interest on all of and Principal upon the Notes Loans and all other sums payable under the Notes and under this Agreement (except any principal, interest, or premium on the Notes which has become due and payable solely by reason of such declaration) shall have been duly paid, and unless the same specifically has been waived in writing by the Required Lenders; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, waived; and provided further provided, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.

Appears in 1 contract

Sources: Credit Agreement (Telos Corp)

Rescission of Acceleration. If The provisions of Section 6.3 are subject to the condition that if the principal of and accrued interest on all or any outstanding Notes shall have been declared immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default described in paragraphs (a) through (g) inclusive, (i) or (l), inclusive, of Section 6.1, the Required Holder(s) may holders of 66-2/3% in aggregate principal amount of the Notes then outstanding may, by written instrument filed with the Company, rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, ; (2b) all arrears of interest on upon all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, interest or premium Make‑Whole Amount on the Notes which has become due and payable solely by reason of such declarationdeclaration under Section 6.3) shall have been duly paid, and ; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, Section 7.1; and further providedprovided further, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.

Appears in 1 contract

Sources: Note Agreement (SJW Corp)

Rescission of Acceleration. If At any time after any or all of the Notes shall have been declared immediately due and payable pursuant to paragraph 7A, the Required Holder(s) may of the Notes may, by notice in writing to the Company, rescind and annul such declaration and its consequences if (i) the consequences thereofCompany shall have paid all overdue interest on the Notes, provided that the principal of and Yield-Maintenance Amount, if any, payable with respect to any Notes which have become due otherwise than by reason of such declaration, and interest on such overdue interest and overdue principal and Yield-Maintenance Amount at the time rate specified in the Notes, (ii) the Company shall not have paid any amounts which have become due solely by reason of such declaration is annulled declaration, (iii) all Events of Default and rescinded Defaults, other than non-payment of amounts which have become due solely by reason of such declaration, shall have been cured or waived pursuant to paragraph 12C, and (1iv) no judgment or decree has shall have been entered for the payment of any monies amounts due pursuant to the Notes or this Agreement, (2) all arrears of interest on all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, or premium on the Notes which has become due and payable solely by reason of such declaration) shall have been duly paid, and (3) each and every other Default and Event of Default shall have been made good, cured, or waived pursuant to paragraph 11C, and further provided, that no . No such rescission and or annulment shall extend to or affect any subsequent Event of Default or Event of Default or impair any right consequent theretoarising therefrom.

Appears in 1 contract

Sources: Note Purchase Agreement (American Biltrite Inc)

Rescission of Acceleration. If The provisions of SECTION 7.3 are subject to the condition that if the principal of and accrued interest on all or any outstanding Notes shall have been declared immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default described in paragraphs (a) through (h), inclusive, of SECTION7.1, the Required Holder(s) may holders of 66-2/3% in aggregate principal amount of the Notes then outstanding may, by written instrument filed with the Issuer, rescind and annul such declaration and the consequences thereof, thereof provided that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, Agreement (2b) all arrears of interest on upon all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, interest or premium on the Notes which has become due and payable solely by reason of such declarationdeclaration under SECTION 7.3) shall have been duly paid, paid and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, SECTION 8.1 and further providedprovided further, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.

Appears in 1 contract

Sources: Note Agreement (Dollar Tree Stores Inc)

Rescission of Acceleration. If The provisions of Section 6.2 are subject to the condition that if the principal of and accrued interest on all or any outstanding Notes shall have been declared immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default described in paragraphs (a) through (i), inclusive, of Section 6.1, the Required Holder(s) may holders of at least 66-2/3% in aggregate principal amount of the Notes then outstanding may, by written instrument filed with the Company, rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, ; (2b) all arrears of interest on upon all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, interest or premium on the Notes which has become due and payable solely by reason of such declarationdeclaration under Section 6.2) shall have been duly paid, and ; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, Section 7.1; and further providedprovided further, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.

Appears in 1 contract

Sources: Note Agreement (AbitibiBowater Inc.)

Rescission of Acceleration. If The provisions of Section 6.3 are subject to the condition that if the principal of and accrued interest on all or any outstanding Notes shall have been declared immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default described in clause (a), (b), (c), (d), (e), (f), (g), (h), (m), (n) or (o) of Section 6.1, the Required Holder(s) holders of at least 66 2/3% in aggregate principal amount of the Notes of all Series, taken as a single class, then outstanding may rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, ; (2b) all arrears of interest on upon all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, interest or premium on the Notes which has become due and payable solely by reason of such declarationdeclaration under Section 6.3) shall have been duly paid, and ; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11CSection 7.1; and provided, and further providedfurther, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto. Such annulment and rescission shall be by written instrument filed with the Parent.

Appears in 1 contract

Sources: Note Agreement (Intertape Polymer Group Inc)

Rescission of Acceleration. If The provisions of Section 6.3 are subject to the condition that if the principal of and accrued interest on all or any outstanding Notes shall have been declared immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default described in paragraphs (a) through (o), inclusive, of Section 6.1, the Required Holder(s) may holders of 51% in aggregate principal amount of the Notes then outstanding may, by written instrument filed with the Obligors, rescind and annul such declaration and the consequences thereof, provided PROVIDED that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, ; (2b) all arrears of interest on upon all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, interest or premium on the Notes which has become due and payable solely by reason of such declarationdeclaration under Section 6.3) shall have been duly paid, and ; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, Section 7.1; and further providedPROVIDED FURTHER, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.

Appears in 1 contract

Sources: Note Agreement (Middleby Corp)

Rescission of Acceleration. If The provisions of Section 9.02 are subject to the condition that if the Principal of and accrued interest on the Notes shall have been declared immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default described in Section 9.01(e)(ii), the Required Holder(s) may Lenders may, by written instrument filed with the Company, rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, ; (2b) all arrears of interest on and Principal upon all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, or premium on the Notes which has become due and payable solely by reason of such declaration) shall have been duly paid, and unless the same specifically has been waived in writing by the Required Lenders; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, waived; and further provided, provided that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.

Appears in 1 contract

Sources: Investment Agreement (Minrad International, Inc.)

Rescission of Acceleration. If At any time after any or all of the Notes Convertible Debentures shall have been declared immediately due and payable pursuant to paragraph 7ASection 9.01, the Required Holder(s) may Purchaser may, by notice in writing to the Company, rescind and annul such declaration and its consequences if (i) the consequences thereofCompany shall have paid all overdue interest on the Convertible Debentures, provided that the principal payable with respect to any Convertible Debentures which have become due otherwise than by reason of such declaration, and interest on such overdue interest and overdue principal at the time rate specified in the Convertible Debentures, (ii) the Company shall not have paid any amounts which have become due solely by reason of such declaration is annulled declaration, (iii) all Events of Default and rescinded Defaults, other than non-payment of amounts which have become due solely by reason of such declaration, shall have been cured or waived pursuant to Section 10.03, and (1iv) no judgment or decree has shall have been entered for the payment of any monies amounts due pursuant to the Notes Convertible Debentures or this Agreement, (2) all arrears of interest on all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, or premium on the Notes which has become due and payable solely by reason of such declaration) shall have been duly paid, and (3) each and every other Default and Event of Default shall have been made good, cured, or waived pursuant to paragraph 11C, and further provided, that no . No such rescission and or annulment shall extend to or affect any subsequent Event of Default or Event of Default or impair any right consequent theretoarising therefrom.

Appears in 1 contract

Sources: Convertible Debenture Purchase Agreement (Air South Airlines Inc)

Rescission of Acceleration. If The provisions of §6.3 are subject to the condition that if the principal of and accrued interest on all or any outstanding Notes shall have been declared immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default described in paragraphs (a) through (i), inclusive, of §6.1, the Required Holder(sholders of 66-2/3% in aggregate principal amount of the Notes then outstanding (without regard to the Series of such Notes) may (on the U.S. Dollar Conversion Basis) may, by written instrument filed with the Company, rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, ; (2b) all arrears of interest on upon all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interestinterest or Premium, or premium if any, on the Notes which has become due and payable solely by reason of such declarationdeclaration under §6.3) shall have been duly paid, and ; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, §7.1; and further providedprovided further, that no such rescission and annulment under this §6.5 shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.

Appears in 1 contract

Sources: Note Agreement (Allied Capital Corp)

Rescission of Acceleration. If The provisions of §6.3 are subject to the condition that if the principal of and accrued interest on all or any outstanding Notes shall have been declared immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default described in paragraphs (a) through (i), inclusive, of §6.1, the Required Holder(s) may holders of 66-2/3% in aggregate principal amount of the Notes then outstanding may, by written instrument filed with the Company, rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, ; (2b) all arrears of interest on upon all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interestinterest or Premium, or premium if any, on the Notes which has become due and payable solely by reason of such declarationdeclaration under §6.3) shall have been duly paid, and ; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, §7.1; and further providedprovided further, that no such rescission and annulment under this §6.4 shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.

Appears in 1 contract

Sources: Note Agreement (Allied Capital Corp)

Rescission of Acceleration. If The provisions of Section 7.2 are subject to the condition that if the principal of and accrued but unpaid interest on all or any outstanding Notes shall have been declared or have become immediately due and payable pursuant by reason of the occurrence of any Event of Default described in Section 7.1, (i) with respect to paragraph 7Aan Event of Default under Section 7.1(a), the Required Holder(sholder of such Note or Notes who declared such Note or Notes to be due and payable, and (ii) with respect to an Event of Default other than under Section 7.1(a), the holders of at least a majority in the then outstanding principal amount of all the Senior Subordinated Notes or Deferred Additional Interest Notes, as the case may be, may, in each case by written instrument filed with the Company, rescind and annul such declaration and the consequences thereofthereof with respect to such Note or Notes; provided, provided that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the applicable Notes or this Agreement, ; (2b) all arrears of interest on upon all of the applicable Notes and all other sums payable under the applicable Notes and under this Agreement (except any principal, interest, principal or premium interest on the Notes which has become due and payable solely by reason of such declarationdeclaration under Section 7.2) shall have been duly paid, and ; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11CSection 10.1; and provided, and further providedfurther, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent theretoDefault.

Appears in 1 contract

Sources: Note Purchase Agreement (National Auto Finance Co Inc)

Rescission of Acceleration. If The provisions of Section 4.2 are subject to the Notes shall condition that if the principal of and accrued interest on the Note have been declared immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default described in paragraphs (a) through (j), inclusive, of Section 4.1, the Required Holder(sholder of (or if more than one note has been issued in substitution or exchange for the Note, the holder or holders of 66-2/3% of aggregate principal amount of the notes then outstanding) may may, by written instrument filed with the Company, rescind and annul such declaration and the consequences thereof, provided PROVIDED that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes Note or this Agreement, ; (2b) all arrears of interest on all of upon the Notes Note, late charges, and all other sums payable under the Notes Note and under this Agreement (except any principal, interest, principal or premium interest on the Notes such Note which has become due and payable solely by reason of such declarationdeclaration under Section 4.2) shall have been duly paid, and ; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, Section 5.1; and further providedprovided further, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.

Appears in 1 contract

Sources: Subordinated Note Agreement (Omniquip International Inc)

Rescission of Acceleration. If At any time after any or all of the Notes shall have been declared immediately due and payable pursuant to paragraph 7A, the Required Holder(s) may of the Notes may, by notice in writing to the Company, rescind and annul such declaration and its consequences if (i) the consequences thereofCompany shall have paid all overdue interest on the Notes, provided that the principal of and Yield-Maintenance Amount, if any, payable with respect to any Notes which have become due otherwise than by reason of such declaration, and interest on such overdue interest and overdue principal and Yield-Maintenance Amount at the time rate specified in the Notes, (ii) the Company shall not have paid any amounts which have become due solely by reason of such declaration is annulled declaration, (iii) all Events of Default and rescinded Defaults, other than non-payment of amounts which have become due solely by reason of such declaration, shall have been cured or waived pursuant to paragraph 11C, and (1iv) no judgment or decree has shall have been entered for the payment of any monies amounts due pursuant to the Notes or this Agreement, (2) all arrears of interest on all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, or premium on the Notes which has become due and payable solely by reason of such declaration) shall have been duly paid, and (3) each and every other Default and Event of Default shall have been made good, cured, or waived pursuant to paragraph 11C, and further provided, that no . No such rescission and or annulment shall extend to or affect any subsequent Event of Default or Event of Default or impair any right consequent theretoarising therefrom.

Appears in 1 contract

Sources: Note Purchase Agreement (Wabash National Corp /De)

Rescission of Acceleration. If At any time after any or all of the Notes shall have been declared immediately due and payable pursuant to paragraph 7A8A, the Required Holder(s) may Holders may, by notice in writing to the Company, rescind and annul such declaration and its consequences if (i) the consequences thereofCompany shall have paid all overdue interest on the Notes, provided that the principal of and the Prepayment Premium, if any, payable with respect to any of the Notes which have become due other than by reason of such declaration, and interest on such overdue interest and overdue principal and Prepayment Premium, if any, at the time rate specified in the Notes, (ii) the Company shall not have paid any amounts which have become due solely by reason of such declaration is annulled declaration, (iii) all Events of Default and rescinded Defaults, other than nonpayment of amounts which have become due solely by reason of such declaration, shall have been cured or waived pursuant to paragraph 12C, and (1iv) no judgment or decree has shall have been entered for the payment of any monies amounts due pursuant to the Notes or this Agreement, (2) all arrears of interest on all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, or premium on the Notes which has become due and payable solely by reason of such declaration) shall have been duly paid, and (3) each and every other Default and Event of Default shall have been made good, cured, or waived pursuant to paragraph 11C, and further provided, that no . No such rescission and or annulment shall extend to or affect any subsequent Event of Default or Event of Default or impair any right consequent theretoarising therefrom.

Appears in 1 contract

Sources: Senior Secured Note Agreement (ORBCOMM Inc.)

Rescission of Acceleration. If The provisions of section 6.3 are subject to the condition that if the principal of and accrued interest on all or any outstanding Notes shall have been declared immediately due and payable pursuant to paragraph 7Aby reason of the occurrence of any Event of Default described in paragraphs (a) through (j), inclusive, of section 6.1, the Required Holder(s) may Holders holding more than 50% in aggregate principal amount of the Notes then outstanding may, by written instrument filed with the Company, rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, ; (2b) all arrears of interest on upon all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, interest or premium on the Notes which has become due and payable solely by reason of such declarationdeclaration under section 6.3) shall have been duly paid, ; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, section 7.1; and further providedprovided further, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto. SECTION 7.

Appears in 1 contract

Sources: Note Agreement (California Water Service Co)

Rescission of Acceleration. If At any time after any or all of the Project Notes shall have been declared immediately due and payable pursuant to paragraph 7ASection 9.1 hereof, the Required Holder(s) may may, by notice in writing to the Borrower, rescind and annul such declaration and its consequences if (a) the consequences thereofBorrower shall have paid all overdue interest on the Project Notes, provided that the principal of and Yield-Maintenance Amount, if any, payable with respect to any Project Notes which have become due otherwise than by reason of such declaration, and interest on such overdue interest and overdue principal and Yield-Maintenance Amount at the time rate specified in the Project Notes, (b) the Borrower shall not have paid any amounts which have become due solely by reason of such declaration is annulled declaration, (c) all Events of Default and rescinded Defaults, other than non-payment of amounts which have become due solely by reason of such declaration, shall have been cured or waived pursuant to Section 11.14, and (1d) no judgment or decree has shall have been entered for the payment of any monies amounts due pursuant to the Project Notes or this Agreement, (2) all arrears of interest on all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, or premium on the Notes which has become due and payable solely by reason of such declaration) shall have been duly paid, and (3) each and every other Default and Event of Default shall have been made good, cured, or waived pursuant to paragraph 11C, and further provided, that no . No such rescission and or annulment shall extend to or affect any subsequent Event of Default or Event of Default or impair any right consequent theretoarising therefrom.

Appears in 1 contract

Sources: Bond Purchase and Loan Agreement (Franklin Electric Co Inc)

Rescission of Acceleration. If The provisions of 7A are subject to the condition that if the principal of and accrued interest on all or any outstanding Notes shall have been declared immediately due and payable pursuant to paragraph by reason of the occurrence of any Event of Default described in paragraphs (i) through (vii), inclusive, or (xii), (xiii) and (xiv) of 7A, the Required Holder(s) may Holders may, by written instrument filed with the Company, rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, ; (2b) all arrears of interest on upon all of the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest, interest or premium on the Notes which has become due and payable solely by reason of such declarationdeclaration under 7A) shall have been duly paid, ; and (3c) each and every other Default and Event of Default shall have been made good, cured, cured or waived pursuant to paragraph 11C, ; and further providedprovided further, that no such rescission and annulment shall extend to or affect any subsequent Default or Event of Default or impair any right consequent thereto.. C.

Appears in 1 contract

Sources: Note Agreement (NPC International Inc)