Common use of Rescission of Acceleration Clause in Contracts

Rescission of Acceleration. 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 have been declared immediately due and payable by reason of the occurrence of any Event of Default described in paragraphs (a) through (i), inclusive, of Section 6.1, the 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and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded: (a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement; (b) all arrears of interest upon all the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 under Section 6.3) shall have been duly paid; and (c) each and every other Default and Event of Default shall have been made good, cured or waived pursuant to Section 7.1; 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 2 contracts

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

Rescission of Acceleration. The provisions of Section 6.3 9.02 are subject to the condition that if the principal Principal of and accrued interest on all or any outstanding the Notes have been declared immediately due and payable by reason of the occurrence of any Event of Default described in paragraphs (a) through (iSection 9.01(e)(ii), inclusive, of Section 6.1, the holders of 66-2/3% in aggregate principal amount of the Notes then outstanding Required Lenders may, by written instrument filed with the CompanyBorrower, rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded: (a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement; (b) all arrears of interest and Principal upon all 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 under Section 6.3) shall have been duly paid, unless the same specifically has been waived in writing by the Required Lenders; and (c) each and every other Default and Event of Default shall have been made good, cured or waived pursuant to Section 7.1waived; and provided further, 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: Subordination Agreement (General Finance CORP), Subordination Agreement (General Finance CORP)

Rescission of Acceleration. 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 have been declared immediately due and payable by reason of the occurrence of any Event of Default described in paragraphs (a) through (i), inclusive, of Section 6.1, the holders of 66-2/3not 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: (a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this the Agreement; (b) all arrears of interest upon on all the Notes and all other sums payable under the Notes and under this the Agreement (except any principal, interest or premium on the Notes which has become due and payable solely by reason of such declaration under Section 6.3) shall have been duly paid; and (c) each and every other Default and Event of Default shall have been made good, cured or waived pursuant to Section 7.1; and provided further, 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 (Johnson Worldwide Associates Inc), Note Agreement (Johnson Worldwide Associates Inc)

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

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

Rescission of Acceleration. 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 have been declared immediately due and payable by reason of the occurrence of any Event of Default described in paragraphs (a) through (ig), inclusive, and paragraphs (k) through (m), inclusive, of Section §6.1, the holders of 66-2/3662/3% 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: (a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement; (b) all arrears of interest upon all 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 under Section §6.3) shall have been duly paid; and (c) each and every other Default and Event of Default shall have been made good, cured or waived pursuant to Section §7.1; 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 Agreement (K2 Inc)

Rescission of Acceleration. 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 have been declared immediately due and payable by reason of the occurrence of any Event of Default described in paragraphs (a) through (i), inclusive, of Section §6.1, the holders of 66-2/3% in aggregate principal amount of the Notes then outstanding (without regard to the Series of such Notes) (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: (a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement; (b) all arrears of interest upon all the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest or premium Premium, if any, on the Notes which has become due and payable solely by reason of such declaration under Section §6.3) shall have been duly paid; and (c) each and every other Default and Event of Default shall have been made good, cured or waived pursuant to Section §7.1; and provided 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. The provisions of Section 6.3 4.2 are subject to the condition that if the principal of and accrued interest on all or any outstanding Notes the Note have been declared immediately due and payable by reason of the occurrence of any Event of Default described in paragraphs (a) through (ij), inclusive, of Section 6.14.1, the holder 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% in of aggregate principal amount of the Notes notes then outstanding 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: (a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes Note or this Agreement; (b) all arrears of interest upon all the Notes Note, late charges, and all other sums payable under the Notes Note and under this Agreement (except any principal, principal or interest or premium on the Notes such Note which has become due and payable solely by reason of such declaration under Section 6.34.2) shall have been duly paid; and (c) each and every other Default and Event of Default shall have been made good, cured or waived pursuant to Section 7.15.1; 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: Subordinated Note Agreement (Omniquip International Inc)

Rescission of Acceleration. 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 have been declared immediately due and payable by reason of the occurrence of any Event of Default described in paragraphs (a) through (i), inclusive, of Section §6.1, the 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: (a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this AgreementAgreement (including any Supplement); (b) all arrears of interest upon all the Notes and all other sums payable under the Notes and under this Agreement (including any Supplement) (except any principal, interest or premium Premium, if any, on the Notes which has become due and payable solely by reason of such declaration under Section §6.3) shall have been duly paid; and (c) each and every other Default and Event of Default shall have been made good, cured or waived pursuant to Section §7.1; and provided 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. 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 of a Series have been declared immediately due and payable by reason of the occurrence of any Event of Default described in paragraphs (a) through (i), inclusive, of Section 6.1, the holders of 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: (a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement; (b) all arrears of interest upon all the Notes of such Series and all other sums payable under the such Notes and under this Agreement (except any principal, interest or premium on the such Notes which has become due and payable solely by reason of such declaration under Section 6.3) shall have been duly paid; and (c) each and every other Default and Event of Default shall have been made good, cured or waived pursuant to Section 7.1; 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 Agreement (Semco Energy Inc)

Rescission of Acceleration. The provisions of Section 6.3 paragraph 7(b) are subject to the condition that if the principal of and accrued interest on all or any outstanding Notes have been declared immediately due and payable by reason of the occurrence of any Event of Default described in paragraphs (a) through clauses (i), inclusive(ii), (v), (vi), (vii) or (viii) of Section 6.1paragraph 7(a), the holders of 66-2/368% 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: (ai) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement; (bii) all arrears of interest upon all 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 under Section 6.3paragraph 7(b)) shall have been duly paid; and (ciii) each and every other Default and Event of Default shall have been made good, cured or waived pursuant to Section 7.1paragraph 13(c); and provided 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 (Sheldahl Inc)

Rescission of Acceleration. 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 have been declared immediately due and payable by reason of the occurrence of any Event of Default described in paragraphs (a) through (in), inclusive, of Section 6.1, the 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: (a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement; (b) all arrears of interest upon all 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 under Section 6.3) shall have been duly paid; and (c) each and every other Default and Event of Default shall have been made good, cured or waived pursuant to Section 7.1; 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 Agreement (Connecticut Water Service Inc / Ct)

Rescission of Acceleration. The provisions of Section 6.3 9.02 are subject to the condition that if the principal of and accrued interest on all or any outstanding the Notes have been declared immediately due and payable by reason of the occurrence of any Event of Default other than those described in paragraphs (aSection 9.01(f) through (ior Section 9.01(g), inclusive, of Section 6.1, the holders of 66-2/3% in aggregate principal amount of the Notes then outstanding Required Lenders may, by written instrument filed with the CompanyBorrower, rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded: (a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement; (b) all arrears of interest and principal upon all 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 under Section 6.3) shall have been duly paid, unless the same specifically has been waived in writing by the Required Lenders; and (c) each and every other Default and Event of Default shall have been made good, cured or waived pursuant to Section 7.1waived; 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: Credit Agreement (DelStaff, LLC)

Rescission of Acceleration. 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 have been declared immediately due and payable by reason of the occurrence of any Event of Default described in paragraphs (a) through (io), inclusive, of Section 6.1, the holders of 66-2/351% in aggregate principal amount of the Notes then outstanding may, by written instrument filed with the CompanyObligors, rescind and annul such declaration and the consequences thereof, provided PROVIDED that at the time such declaration is annulled and rescinded: (a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement; (b) all arrears of interest upon all 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 under Section 6.3) shall have been duly paid; and (c) each and every other Default and Event of Default shall have been made good, cured or waived pursuant to Section 7.1; and provided furtherPROVIDED 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. 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 have been declared immediately due and payable by 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 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: (a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement; (b) all arrears of interest upon all the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest or premium Make‑Whole Amount on the Notes which has become due and payable solely by reason of such declaration under Section 6.3) shall have been duly paid; and (c) each and every other Default and Event of Default shall have been made good, cured or waived pursuant to Section 7.1; 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 Agreement (SJW Corp)

Rescission of Acceleration. The provisions of Section 6.3 9.01 are subject to the condition that if the principal Principal of and accrued interest on all or any outstanding the Notes shall have been declared immediately due and payable by reason of the occurrence of any Event of Default described in paragraphs (a) through (iSection 9.01(e)(ii), inclusive, of Section 6.1, the holders of 66-2/3% in aggregate principal amount of the Notes then outstanding Required 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: (a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement; (b) all arrears of interest and Principal upon all 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 under Section 6.3) shall have been duly paid, unless the same specifically has been waived in writing by the Required Lenders; and (c) each and every other Default and Event of Default shall have been made good, cured or waived pursuant to Section 7.1waived; and provided further, 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: Investment Agreement (Palace Entertainment Holdings, Inc.)

Rescission of Acceleration. The provisions of Section 6.3 subsection 8.3 are subject to the condition that if the principal of and accrued interest on all or any outstanding the Notes have been declared immediately due and payable by reason of the occurrence of any Event of Default described in paragraphs (a) through (i), inclusive, and paragraph (l), of Section 6.1subsection 8.1, the 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: (a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement; (b) all arrears of interest upon all the Notes and or 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 under Section 6.3subsection 8.3) shall have been duly paid; and (c) each and every other Default and Event of Default shall have been made good, cured or waived pursuant to Section 7.1subsection 9.1; and provided further, 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 (Outlook Group Corp)

Rescission of Acceleration. 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 have been declared immediately due and payable by reason of the occurrence of any Event of Default described in paragraphs clause (a) through (i), inclusive(b), (c), (d), (e), (f), (g), (h), (m), (n) or (o) of Section 6.1, the holders of 66-at least 66 2/3% in aggregate principal amount of the Notes of all Series, taken as a single class, then outstanding may, by written instrument filed with the Company, may rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded: (a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement; (b) all arrears of interest upon all 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 under Section 6.3) shall have been duly paid; and (c) each and every other Default and Event of Default shall have been made good, cured or waived pursuant to Section 7.1; and provided 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. 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. 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 have been declared immediately due and payable by reason of the occurrence of any Event of Default described in paragraphs (a) through (ig), inclusive, of Section 6.1, the 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: (a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement; (b) all arrears of interest upon all the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest or premium Make-Whole Amount on the Notes which has become due and payable solely by reason of such declaration under Section 6.3) shall have been duly paid; and (c) each and every other Default and Event of Default shall have been made good, cured or waived pursuant to Section 7.1; 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 Agreement (Cleveland Cliffs Inc)

Rescission of Acceleration. The provisions of Section 6.3 are subject to the condition that if the principal of of, premium, if any, and accrued interest on all or any outstanding Notes have been declared immediately due and payable by reason of the occurrence of any Event of Default described in paragraphs (a) through (il), inclusive, of Section 6.1, the holders of 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: (a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement; (b) all arrears of interest upon all 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 under Section 6.3) shall have been duly paid; and (c) each and every other Default and Event of Default shall have been made good, cured or waived pursuant to Section 7.1; and provided furtherPROVIDED 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. The provisions of Section 6.3 9.02 are subject to the condition that if the principal Principal of and accrued interest on all or any outstanding the Notes have been declared immediately due and payable by reason of the occurrence of any Event of Default described in paragraphs (a) through (iSection 9.01(e)(ii), inclusive, of Section 6.1, the holders of 66-2/3% in aggregate principal amount of the Notes then outstanding Required 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: (a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement; (b) all arrears of interest and Principal upon all 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 under Section 6.3) shall have been duly paid, unless the same specifically has been waived in writing by the Required Lenders; and (c) each and every other Default and Event of Default shall have been made good, cured or waived pursuant to Section 7.1waived; 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: Investment Agreement (Minrad International, Inc.)

Rescission of Acceleration. The provisions of Section 6.3 9.01 are subject to the condition that if the principal Principal of and accrued interest on all or any outstanding the Notes have been declared immediately due and payable by reason of the occurrence of any Event of Default described in paragraphs (a) through (iSection 9.01(e)(ii), inclusive, of Section 6.1, the holders of 66-2/3% in aggregate principal amount of the Notes then outstanding Required Lenders may, by written instrument filed with the CompanyBorrowers, rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded: (a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement; (b) all arrears of interest and Principal upon all 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 under Section 6.3) shall have been duly paid, unless the same specifically has been waived in writing by the Required Lenders; and (c) each and every other Default and Event of Default shall have been made good, cured or waived pursuant to Section 7.1waived; and provided further, 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: Investment Agreement (Parent Co)

Rescission of Acceleration. The provisions of Section 6.3 6.2 are subject to the condition that if the principal of and accrued interest on all or any outstanding Notes have been declared immediately due and payable by reason of the occurrence of any Event of Default described in paragraphs (a) through (i), inclusive, of Section 6.1, the 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: (a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement; (b) all arrears of interest upon all 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 under Section 6.36.2) shall have been duly paid; and (c) each and every other Default and Event of Default shall have been made good, cured or waived pursuant to Section 7.1; 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 Agreement (AbitibiBowater Inc.)

Rescission of Acceleration. 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 have been declared immediately due and payable by reason of the occurrence of any Event of Default described in paragraphs (a) through (i), inclusive, of Section §6.1, the 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: (a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement; (b) all arrears of interest upon all the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest or premium Premium, if any, on the Notes which has become due and payable solely by reason of such declaration under Section §6.3) shall have been duly paid; and (c) each and every other Default and Event of Default shall have been made good, cured or waived pursuant to Section §7.1; and provided 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. The provisions of Section 6.3 9.01 are subject to the condition that if the principal Principal of and accrued interest on all or any outstanding Notes the Loans have been declared immediately due and payable by reason of the occurrence of any Event of Default described in paragraphs (a) through (iSection 9.01(e)(ii), inclusive, of Section 6.1, the holders of 66-2/3% in aggregate principal amount of the Notes then outstanding Required Lenders may, by written instrument filed with the CompanyBorrowers, rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded: (a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement; (b) all arrears of interest and Principal upon all 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 under Section 6.3) shall have been duly paid, unless the same specifically has been waived in writing by the Required Lenders; and (c) each and every other Default and Event of Default shall have been made good, cured or waived pursuant to Section 7.1waived; and provided further, 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: Debt Agreement (D. E. Shaw Laminar Acquisition Holdings 3, L.L.C.)

Rescission of Acceleration. 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 have been declared immediately due and payable by reason of the occurrence of any Event of Default described in paragraphs (a) through (i), inclusive, of Section 6.1, the 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: (a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement; (b) all arrears of interest upon all the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest or premium Make-Whole Amount on the Notes which has become due and payable solely by reason of such declaration under Section 6.3) shall have been duly paid; and (c) each and every other Default and Event of Default shall have been made good, cured or waived pursuant to Section 7.1; 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 Agreement (Wolverine World Wide Inc /De/)

Rescission of Acceleration. 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 have been declared immediately due and payable by reason of the occurrence of any Event of Default described in paragraphs clause (a) through (i), inclusive(b), (c), (d), (e), (f), (g), (h), (m), (n) or (o) of Section 6.1, the holders of 66-at least 66 2/3% in aggregate principal amount of the Notes then outstanding may, by written instrument filed with the Company, may rescind and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded: (a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement; (b) all arrears of interest upon all 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 under Section 6.3) shall have been duly paid; and (c) each and every other Default and Event of Default shall have been made good, cured or waived pursuant to Section 7.1; and provided 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. 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. The provisions of Section 6.3 13.2 are subject to the condition that if the principal of and accrued interest on all or any outstanding Notes have been declared immediately due and payable by reason of the occurrence of any Event of Default described in paragraphs subdivisions (a) through (if), inclusive, or subdivision (j) of Section 6.113.1, the holders of 66-66- 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: (a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement; (b) all arrears of interest upon all 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 under Section 6.313.2) shall have been duly paid; and (c) each and every other Default and Event of Default shall have been made good, cured or waived pursuant to Section 7.118; 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 Agreement (New England Electric System)

Rescission of Acceleration. 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 have been declared or have become immediately due and payable by reason of the occurrence of any Event of Default described in paragraphs (a) through (if), inclusive, of Section 6.1, or an Event of Default described in paragraphs (h) through (o), inclusive, of Section 6.1, then the holders of 66-2/3% in aggregate principal amount of the Notes then outstanding may, Required 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: (a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement; (b) all arrears of interest upon all 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 under Section 6.3) shall have been duly paid; and (c) each and every other Default and Event of Default shall have been made good, cured or waived pursuant to Section 7.17.1 and the Company shall have paid all of Purchaser's costs and expenses as provided for in Section 9.4; and provided 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/)