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and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded (1) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, (2) all arrears of interest on all of the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.

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and annul such declaration and the consequences thereof, provided that at the time such declaration is annulled and rescinded or rescinded: (1a) no judgment or decree has been entered for the payment of any monies due pursuant to the Notes or this Agreement, ; (2b) all arrears of interest on upon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.

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.

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.

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.

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.

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.

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.

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.

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.

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.