Sole Remedy for Failure to Report. Notwithstanding any other provision of this Indenture, the sole remedy for an Event of Default relating to the failure of the Company to comply with its agreements under Section 4.07(a) of this Indenture will, for the 180 calendar days after the occurrence of such an Event of Default, consist exclusively of the right to receive additional interest (“Reporting Additional Interest”) on the principal amount of the Notes at a rate equal to 0.50% per annum. This Reporting Additional Interest will be payable in the same manner and on the same Interest Payment Dates and subject to the same terms as other interest payable under this Indenture. Reporting Additional Interest will accrue on all outstanding Notes from and including the date on which such Event of Default relating to a failure to comply with Section 4.07(a) first occurs to but not including the 180th calendar day thereafter (or such earlier date on which such Event of Default shall have been cured or waived). On such 180th calendar day (or such earlier date on which such Event of Default shall have been cured or waived), such Reporting Additional Interest will cease to accrue, and on such 180th calendar day, the Notes will be subject to acceleration and other remedies as provided in this Article 6 if the Event of Default is then continuing. For the avoidance of doubt, the provisions of this Section 6.13 will not affect the rights of Holders of Notes in the event of the occurrence of any other Event of Default. For the further avoidance of doubt, the Reporting Additional Interest shall not begin accruing until the Company fails to comply with Section 4.07(a) for a period of 60 calendar days after the Notice of Default of such failure is given to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in aggregate principal amount of outstanding Notes.
Appears in 1 contract
Sources: Senior Convertible Notes Indenture (CME Media Enterprises B.V.)
Sole Remedy for Failure to Report. Notwithstanding any other provision of this the Indenture, if the Company so elects, the sole remedy for an Event of Default relating to the failure of the Company to comply with its agreements the reporting obligations under Section 4.07(a) of this Indenture 3.08 will, for the 180 period beginning on the 91st calendar days day and ending on the 180th day after the written notice of the occurrence of such an Event failure to report from the Trustee or holders of Default25% of the Outstanding principal amount of the Notes, consist exclusively of the right to receive additional interest (“Reporting Additional Interest”) on the Notes at a rate equal to 0.25% per annum of the principal amount of the Notes and, if the Company so elects, for the period beginning on the 181st calendar day and ending on the 360th day after the written notice of the occurrence of such failure to report from the Trustee or holders of 25% of the Outstanding principal amount of the Notes, consist exclusively of the right to receive additional interest on the Notes at a rate equal to 0.50% per annumannum of the principal amount of the Notes (the “Additional Interest”). This Reporting Additional Interest will be payable in the same manner and on the same Interest Payment Dates and subject to dates as the same terms as other stated interest payable under on the Notes. If the Company so elects, this Indenture. Reporting Additional Interest will accrue on all outstanding Outstanding Notes from and including the 91st day following the date of such written notice of the failure to comply with Section 3.08 to but not including the date on which such the Event of Default relating to a failure to comply with the reporting obligations as set forth in Section 4.07(a) first occurs to but not including the 180th calendar day thereafter (or such earlier date on which such Event of Default 3.08 shall have been cured or waived). On such 180th the 270th calendar day after the Commencement of such Additional Interest (or if such earlier date on which such Event of Default shall have been violation is not cured or waived), waived prior to such Reporting Additional Interest will cease to accrue, and on such 180th 270th calendar day), the Notes will be subject to acceleration and other remedies as provided in this Article 6 if Section 5.2 of the Original Indenture. In order to exercise the extension right and elect to pay the Additional Interest as the sole remedy following the occurrence of any Event of Default relating to the failure to comply with Section 3.08 in accordance with the preceding paragraph, the Company must notify all Noteholders and the Trustee and Paying Agent of such election prior to the close of business on the 91st calendar day after the written notice to the Company of such failure to report (or, if such date is then continuingnot a Business Day, on the first Business Day thereafter). Upon the Company’s failure to timely give such notice, the Notes will be subject to acceleration as provided in Section 5.2 of the Original Indenture. For the avoidance of doubt, the provisions of this Section 6.13 4.02 will not affect the rights of Holders of Notes Noteholders in the event of the occurrence of any other Event of Default. For the further avoidance of doubt, the Reporting Additional Interest shall not begin accruing until the Company fails to comply with Section 4.07(a) for a period of 60 calendar days after the Notice of Default of such failure is given to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in aggregate principal amount of outstanding Notes.
Appears in 1 contract
Sources: Supplemental Indenture (Energy Conversion Devices Inc)
Sole Remedy for Failure to Report. Notwithstanding any other provision of this the Indenture, the sole remedy for an Event of Default relating to the failure of the Company to comply with its agreements the reporting obligations under Article 5 of this First Supplemental Indenture, and for any failure to comply with the requirements of Section 4.07(a314(a)(1) of this the Trust Indenture willAct, will for the 180 calendar 365 days after the occurrence of such an Event of Default, Default consist exclusively of the right to receive additional interest (“Reporting Additional Interest”) Interest in cash on the principal amount Original Principal Amount of the Notes at a rate equal to 0.500.25% per annum. This Reporting Additional Interest will be payable in the same manner and on the same Interest Payment Dates and subject to the same terms as other interest payable under this First Supplemental Indenture. Reporting The Additional Interest will accrue on all outstanding Outstanding Notes from and including the date on which such an Event of Default relating to a failure to comply with Article 5 or Section 4.07(a314(a)(1) of the Trust Indenture Act first occurs to but not including excluding the 180th calendar 365th day thereafter (or such earlier date on which such the Event of Default relating to the reporting obligations under Article 5 or Section 314(a)(1) of the Trust Indenture Act shall have been cured or waived). On such 180th calendar 365th day (or such earlier date on which such earlier, if the Event of Default shall have been relating to such reporting obligations is cured or waivedwaived prior to such 365th day), such Reporting Additional Interest will cease to accrue, accrue and on such 180th calendar day, the Notes will be subject to acceleration and other remedies as provided in this Article 6 7 if the Event of Default is then continuing. For the avoidance of doubt, the provisions of this Section 6.13 7.03 will not affect the rights of Holders of Notes in the event of the occurrence of any other Event of Default. For the further avoidance of doubt, the Reporting Additional Interest shall not begin accruing until the Company fails to comply with Section 4.07(a) for a period of 60 calendar days after the Notice of Default of such failure is given to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in aggregate principal amount of outstanding Notes.
Appears in 1 contract
Sources: First Supplemental Indenture (Goodrich Petroleum Corp)
Sole Remedy for Failure to Report. Notwithstanding any other provision of this the Indenture, the sole remedy for an Event of Default relating to the failure of the Company to comply with its agreements the reporting obligations under Section 4.07(a11.01 of this First Supplemental Indenture, and for any failure to comply with the requirements of Section 314(a)(1) of this the Trust Indenture willAct, will for the 180 calendar 365 days after the occurrence of such an Event of Default, Default consist exclusively of the right to receive additional interest (“Reporting Additional Interest”) Interest on the principal amount of the Notes Securities at a rate equal to 0.500.25% per annum. This Reporting Additional Interest will be payable in the same manner and on the same Interest Payment Dates and subject to the same terms as other interest payable under this First Supplemental Indenture. Reporting The Additional Interest will accrue on all outstanding Notes Securities from and including the date on which such an Event of Default relating to a failure to comply with Section 4.07(a11.01 or Section 314(a)(1) of the Trust Indenture Act first occurs to but not including excluding the 180th calendar 365th day thereafter (or such earlier date on which such the Event of Default relating to the reporting obligations under Section 11.01 or Section 314(a)(1) of the Trust Indenture Act shall have been cured or waived). On such 180th calendar 365th day (or such earlier date on which such earlier, if the Event of Default shall have been relating to such reporting obligations is cured or waivedwaived prior to such 365th day), such Reporting Additional Interest will cease to accrue, accrue and on such 180th calendar day, the Notes Securities will be subject to acceleration and other remedies as provided in this Article 6 5 if the Event of Default is then continuing. For the avoidance of doubt, the provisions of this Section 6.13 5.02 will not affect the rights of Holders of Notes Securities in the event of the occurrence of any other Event of Default. For the further avoidance of doubt, the Reporting Additional Interest shall not begin accruing until the Company fails to comply with Section 4.07(a) for a period of 60 calendar days after the Notice of Default of such failure is given to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in aggregate principal amount of outstanding Notes.
Appears in 1 contract
Sources: First Supplemental Indenture (Flotek Industries Inc/Cn/)
Sole Remedy for Failure to Report. Notwithstanding any other provision of this Indenture, at the Company’s election, the sole remedy for an Event of Default relating to the failure of the Company to comply with its agreements the reporting obligations under Section 4.07(a) Article 5 of this Indenture will, for the 180 calendar 365 days after the occurrence of such an Event of Default, consist exclusively of the right to receive additional interest (“Reporting Additional Interest”) Interest on the principal amount of the Notes Securities at a rate equal to 0.50% per annum. This Reporting Additional Interest will be payable in the same manner and on the same Interest Payment Dates and subject to the same terms as other interest payable under this Indenture. Reporting The Additional Interest will accrue on all outstanding Notes Securities from and including the date on which such an Event of Default relating to a failure to comply with Section 4.07(a) Article 5 first occurs to but not including excluding the 180th calendar 365th day thereafter (or such earlier date on which such the Event of Default relating to the reporting obligations under Article 5 shall have been cured or waived). On such 180th calendar 365th day (or such earlier date on which such earlier, if the Event of Default shall have been relating to such reporting obligations is cured or waivedwaived prior to such 365th day), such Reporting Additional Interest will cease to accrue, accrue and on such 180th calendar day, the Notes Securities will be subject to acceleration and other remedies as provided in this Article 6 7 if the Event of Default is then continuing. For the avoidance of doubt, the provisions of this Section 6.13 7.02 will not affect the rights of Holders of Notes Securities in the event of the occurrence of any other Event of Default. For the further avoidance of doubt, the Reporting In no event will Additional Interest shall not begin accruing until the Company fails to comply with (including any Additional Interest that may accrue as a result of Section 4.07(a3.08) for accrue at a period rate per year in excess of 60 calendar days after the Notice of Default of such failure is given 0.50% pursuant to the Company by Indenture, regardless of the Trustee number of events or circumstances giving rise to the Company and the Trustee by the Holders of at least 25% in aggregate principal amount of outstanding Notesrequirement to pay such Additional Interest.
Appears in 1 contract
Sole Remedy for Failure to Report. Notwithstanding any other provision of this the Indenture, if the Company so elects, the sole remedy for an Event of Default relating to the failure of the Company to comply with its agreements the reporting obligations under Section 4.07(a) of this Indenture 3.06 will, for the 180 calendar days after beginning on and including the occurrence of such an day on which the Event of DefaultDefault occurs, consist exclusively of the right to receive additional interest (“Reporting Additional Interest”) on the principal amount of the Notes at a rate equal to 0.500.25% per annumannum of the principal amount of the Notes (the “Additional Interest”) for each day during the 180-day period during which the Event of Default relating to the reporting obligations is continuing and neither waived nor cured (but not including the date on which the Event of Default relating to the reporting obligations shall have been cured or waived). This Reporting Additional Interest will be payable in the same manner and on the same dates as the stated interest payable on the Notes. On the 180th calendar day after the commencement of such Additional Interest Payment Dates and (if such violation is not cured or waived prior to such 180th calendar day), the Notes will be subject to acceleration upon written notice from the same terms as other interest payable under this Trustee or holders of 25% of the outstanding principal amount of the Notes, in accordance with Section 6.02 of the Original Indenture. Reporting In order to exercise the extension right and elect to pay the Additional Interest will accrue as the sole remedy following the occurrence of any Event of Default relating to the failure to comply with Section 3.06 in accordance with the preceding paragraph, the Company must notify all Noteholders and the Trustee and Paying Agent of such election on all outstanding Notes from and including or before the date on which such Event of Default relating to a such failure to comply with Section 4.07(a) report otherwise would occur (or, if such date is not a Business Day, on the first occurs to but not including the 180th calendar day thereafter (or such earlier date on which such Event of Default shall have been cured or waivedBusiness Day thereafter). On Upon the Company’s failure to timely give such 180th calendar day (or such earlier date on which such Event of Default shall have been cured or waived), such Reporting Additional Interest will cease to accrue, and on such 180th calendar daynotice, the Notes will be subject to acceleration and other remedies as provided in this Article 6 if the Event of Default is then continuingabove. For the avoidance of doubt, the provisions of this Section 6.13 4.02 will not affect the rights of Holders of Notes Noteholders in the event of the occurrence of any other Event of Default. For the further avoidance of doubt, the Reporting Additional Interest shall not begin accruing until the Company fails to comply with Section 4.07(a) for a period of 60 calendar days after the Notice of Default of such failure is given to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in aggregate principal amount of outstanding Notes.
Appears in 1 contract
Sole Remedy for Failure to Report. Notwithstanding any other provision of this the Indenture, if the Company so elects, the sole remedy for an Event of Default relating to the failure of the Company to comply with its agreements the reporting obligations under Section 4.07(a) of this Indenture 3.06 will, for the 180 period beginning on the 91st calendar days day after the written notice of the occurrence of such an Event failure to report from the Trustee or holders of Default25% of the outstanding principal amount of the Notes, consist exclusively of the right to receive additional interest (“Reporting Additional Interest”) on the principal amount of the Notes at a rate equal to 0.500.25% per annumannum of the principal amount of the Notes (the “Additional Interest”). This Reporting Additional Interest will be payable in the same manner and on the same Interest Payment Dates and subject to dates as the same terms as other stated interest payable under on the Notes. If the Company so elects, this Indenture. Reporting Additional Interest will accrue on all outstanding Notes from and including the 91st day following the date of such written notice of the failure to comply with Section 3.06 to but not including the date on which such the Event of Default relating to a failure to comply with the reporting obligations as set forth in Section 4.07(a) first occurs to but not including the 180th calendar day thereafter (or such earlier date on which such Event of Default 3.06 shall have been cured or waived). On such the 180th calendar day after the commencement of such Additional Interest (or if such earlier date on which such Event of Default shall have been violation is not cured or waived), such Reporting Additional Interest will cease waived prior to accrue, and on such 180th calendar day), the Notes will be subject to acceleration upon written notice from the Trustee or holders of 25% of the outstanding principal amount of the Notes, in accordance with Section 6.02 of the Original Indenture. In order to exercise the extension right and other remedies elect to pay the Additional Interest as provided in this Article 6 if the sole remedy following the occurrence of any Event of Default relating to the failure to comply with Section 3.06 in accordance with the preceding paragraph, the Company must notify all Noteholders and the Trustee and Paying Agent of such election prior to the close of business on the 91st calendar day after the written notice to the Company of such failure to report (or, if such date is then continuingnot a Business Day, on the first Business Day thereafter). Upon the Company’s failure to timely give such notice, the Notes will be subject to acceleration as provided above. For the avoidance of doubt, the provisions of this Section 6.13 4.02 will not affect the rights of Holders of Notes Noteholders in the event of the occurrence of any other Event of Default. For the further avoidance of doubt, the Reporting Additional Interest shall not begin accruing until the Company fails to comply with Section 4.07(a) for a period of 60 calendar days after the Notice of Default of such failure is given to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in aggregate principal amount of outstanding Notes.
Appears in 1 contract
Sole Remedy for Failure to Report. Notwithstanding any other provision of this Indenture, the sole remedy for an Event of Default relating to the failure of the Company to comply with its agreements under Section 4.07(a3.4(a) of this Indenture will, will for the 180 90 calendar days after the occurrence of such an Event of Default, failure consist exclusively of the right to receive additional interest (“Reporting Additional Interest”) on the principal amount of the Notes Securities at a rate equal to 0.500.5% per annum. This Reporting Additional Interest will be payable in the same manner and on the same Interest Payment Dates interest payment dates and subject to the same terms as other interest payable under this Indenture. Reporting Additional Interest will accrue on all outstanding Notes Securities from and including the date on which such Event of Default relating to a failure to comply with Section 4.07(a3.4(a) first occurs to but not including the 180th 90th calendar day thereafter (or such earlier date on which such Event of Default failure to comply with Section 3.4(a) shall have been cured or waived). On such 180th 90th calendar day (or such earlier date on which such Event of Default failure to comply with Section 3.4(a) shall have been cured or waived), such Reporting Additional Interest will cease to accrue, accrue and on such 180th 90th calendar day, day the Notes Securities will be subject to acceleration and other remedies as provided in this Article 6 VI if the Event of Default is then continuing. For the avoidance of doubt, the provisions of this Section 6.13 will not affect the rights of Holders of Notes Securities in the event of the occurrence of any other Event of Default. For the further avoidance of doubt, the Reporting Additional Interest shall not begin accruing until the Company fails to comply with Section 4.07(a3.4(a) for a period of 60 calendar days after the Notice of Default written notice of such failure is given to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in aggregate principal amount of outstanding Notesthe Securities then outstanding.
Appears in 1 contract
Sole Remedy for Failure to Report. Notwithstanding any other provision of this Indenture, the sole remedy for an Event of Default relating to the failure of the Company to comply with its agreements under Section 4.07(a) of this Indenture will, will for the 180 calendar days after the occurrence of such an Event of Default, Default consist exclusively of the right to receive additional interest (“Reporting Additional Interest”) on the principal amount of the Notes at a rate equal to 0.50% per annum. This Reporting Additional Interest will be payable in the same manner and on the same Interest Payment Dates and subject to the same terms as other interest payable under this Indenture. Reporting Additional Interest will accrue on all outstanding Notes from and including the date on which such Event of Default relating to a failure to comply with Section 4.07(a) first occurs to but not including the 180th calendar day thereafter (or such earlier date on which such the Event of Default relating to a failure to comply with Section 4.07(a) shall have been cured or waived). On such 180th calendar day (or such earlier date on which such the Event of Default relating to a failure to comply with Section 4.07(a) shall have been cured or waived), such Reporting Additional Interest will cease to accrue, accrue and on such 180th calendar day, day the Notes will be subject to acceleration and other remedies as provided in this Article 6 if the Event of Default is then continuing. For the avoidance of doubt, the provisions of this Section 6.13 will not affect the rights of Holders of Notes in the event of the occurrence of any other Event of DefaultDefault and will have no effect on the rights of Holders of Notes under each Registration Rights Agreement. For the further avoidance of doubt, the Reporting Additional Interest shall not begin accruing until the Company fails to comply with Section 4.07(a) for a period of 60 calendar days after the Notice of Default written notice of such failure is given to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in aggregate principal amount of outstanding Notes.
Appears in 1 contract
Sole Remedy for Failure to Report. Notwithstanding any other provision of this the Indenture, the sole remedy for an Event of Default relating to the failure of the Company to comply with its agreements the reporting obligations under Article 5 of this First Supplemental Indenture, and for any failure to comply with the requirements of Section 4.07(a314(a)(1) of this the Trust Indenture willAct, will for the 180 calendar 365 days after the occurrence of such an Event of Default, Default consist exclusively of the right to receive additional interest (the “Reporting Additional Interest”) on the principal amount of the Notes at a rate equal to 0.500.25% per annum. This Reporting Additional Interest will be payable in the same manner and on the same Interest Payment Dates and subject to the same terms as other interest payable under this First Supplemental Indenture. Reporting The Additional Interest will accrue on all outstanding Notes from and including the date on which such an Event of Default relating to a failure to comply with Article 5 or Section 4.07(a314(a)(1) of the Trust Indenture Act first occurs to but not including excluding the 180th calendar 365th day thereafter (or such earlier date on which such the Event of Default relating to the reporting obligations under Article 5 or Section 314(a)(1) of the Trust Indenture Act shall have been cured or waived). On such 180th calendar 365th day (or such earlier date on which such earlier, if the Event of Default shall have been relating to such reporting obligations is cured or waivedwaived prior to such 365th day), such Reporting Additional Interest will cease to accrue, accrue and on such 180th calendar day, the Notes will be subject to acceleration and other remedies as provided in this Article 6 7 if the Event of Default is then continuing. For the avoidance of doubt, the provisions of this Section 6.13 7.03 will not affect the rights of Holders of Notes in the event of the occurrence of any other Event of Default. For the further avoidance of doubt, the Reporting Additional Interest shall not begin accruing until the Company fails to comply with Section 4.07(a) for a period of 60 calendar days after the Notice of Default of such failure is given to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in aggregate principal amount of outstanding Notes.
Appears in 1 contract
Sources: First Supplemental Indenture (Goodrich Petroleum Corp)
Sole Remedy for Failure to Report. Notwithstanding any other provision of this the Indenture, the Company may elect by written notice to the Trustee that the sole remedy for an Event of Default relating to the failure of the Company to comply with its agreements under Section 4.07(a4.05 of this First Supplemental Indenture or the requirements of Section 314(a)(1) of this the Trust Indenture will, Act will for the 180 365 calendar days after the occurrence of such an Event of Default, Default consist exclusively of the right to receive additional interest (“Reporting Additional Interest”) on the principal amount of the Notes at a rate equal to 0.25% per annum for the first 180 calendar days after the occurrence of such an Event of Default and 0.50% per annumannum from the 181st calendar day until the 365th day after the occurrence of such an Event of Default. This Reporting Such Additional Interest will shall be payable in the same manner and on the same Interest Payment Dates and subject to the same terms as other interest payable under this First Supplemental Indenture. Reporting Additional Interest will shall accrue on all outstanding Notes from and including the date on which such Event of Default relating to a failure to comply with Section 4.07(a) 4.05 first occurs to but not including the 180th 365th calendar day thereafter (or such earlier date on which such the Event of Default relating to a failure to comply with Section 4.05 shall have been cured or waived). On such 180th 365th calendar day (or such earlier date on which such the Event of Default relating to a failure to comply with Section 4.05 shall have been cured or waived), such Reporting Additional Interest will shall cease to accrue, accrue and on such 180th 365th calendar day, day the Notes will shall be subject to acceleration and other remedies as provided in this Article 6 Section 7.16 if the Event of Default is then continuing. For the avoidance of doubt, the provisions of this Section 6.13 will 7.16 shall not affect the rights of Holders of Notes in the event of the occurrence of any other Event of Default. In the event the Company does not elect to pay Additional Interest upon an Event of Default relating to failure to comply with Section 4.05, the Notes shall be subject to acceleration as provided in Section 7.02. For the further avoidance of doubt, the Reporting Additional Interest shall not begin accruing until will accrue from the Company fails date on which the Event of Default relating to a failure to comply with Section 4.07(a) for a period of 60 calendar 4.05 occurs. In order to elect to pay the Additional Interest as the sole remedy during the first 365 days after the Notice occurrence of an Event of Default relating to a failure to comply with Section 4.05, the Company must notify all Holders of Notes, the Trustee and the Paying Agent of such failure is given election prior to the Company by first Business Day following the Trustee or date on which the Event of Default relating to the Company and the Trustee by the Holders of at least 25% in aggregate principal amount of outstanding Notesa failure to comply with Section 4.05 occurs.
Appears in 1 contract
Sole Remedy for Failure to Report. Notwithstanding any other provision of this the Indenture, the Company may elect by written notice to the Trustee that the sole remedy for an Event of Default relating to the failure of the Company to comply with its agreements under Section 4.07(a4.05 of this First Supplemental Indenture or the requirements of Section 314(a)(1) of this the Trust Indenture will, Act will for the 180 365 calendar days after the occurrence of such an Event of Default, Default consist exclusively of the right to receive additional interest (“Reporting Additional Interest”) on the principal amount of the Notes at a rate equal to 0.25% per annum for the first 180 calendar days after the occurrence of such an Event of Default and 0.50% per annumannum from the 181st calendar day until the 365th day after the occurrence of such an Event of Default. This Reporting Such Additional Interest will shall be payable in the same manner and on the same Interest Payment Dates and subject to the same terms as other interest payable under this First Supplemental Indenture. Reporting Additional Interest will shall accrue on all outstanding Notes from and including the date on which such Event of Default relating to a failure to comply with Section 4.07(a) 4.05 first occurs to but not including the 180th 365th calendar day thereafter (or such earlier date on which such the Event of Default relating to a failure to comply with Section 4.05 shall have been cured or waived). On such 180th 365th calendar day (or such earlier date on which such the Event of Default relating to a failure to comply with Section 4.05 shall have been cured or waived), such Reporting Additional Interest will shall cease to accrue, accrue and on such 180th 365th calendar day, day the Notes will shall be subject to acceleration and other remedies as provided in this Article 6 Section 7.16 if the Event of Default is then continuing. For the avoidance of doubt, the provisions of this Section 6.13 will 7.16 shall not affect the rights of Holders of Notes in the event of the occurrence of any other Event of Default. In the event the Company does not elect to pay Additional Interest upon an Event of Default relating to failure to comply with Section 4.05, the Notes shall be subject to acceleration as provided in Section 7.02. For the further avoidance of doubt, the Reporting Additional Interest shall not begin accruing until will accrue from the Company fails date on which the Event of Default relating to a failure to comply with Section 4.07(a) for a period of 60 calendar 4.05 occurs. In order to elect to pay the Additional Interest as the sole remedy during the first 365 days after the Notice occurrence of an Event of Default relating to a failure to comply with Section 4.05, the Company must notify all Holders of Notes, the Trustee and the Paying Agent of such failure is given election prior to the Company by tenth Business Day following the Trustee or date on which the Event of Default relating to the Company and the Trustee by the Holders of at least 25% in aggregate principal amount of outstanding Notesa failure to comply with Section 4.05 occurs.
Appears in 1 contract
Sources: First Supplemental Indenture (TTM Technologies Inc)
Sole Remedy for Failure to Report. Notwithstanding any other provision of this Indenture, the sole remedy for an Event of Default relating to the failure of the Company to comply with its agreements under Section Section 4.07(a) of this Indenture will, for the 180 calendar days after the occurrence of such an Event of Default, consist exclusively of the right to receive additional interest (“Reporting Additional Interest”) on the principal amount of the Notes at a rate equal to 0.50% per annum. This Reporting Additional Interest will be payable in the same manner and on the same Interest Payment Dates and subject to the same terms as other interest payable under this Indenture. Reporting Additional Interest will accrue on all outstanding Notes from and including the date on which such Event of Default relating to a failure to comply with Section Section 4.07(a) first occurs to but not including the 180th calendar day thereafter (or such earlier date on which such Event of Default shall have been cured or waived). On such 180th calendar day (or such earlier date on which such Event of Default shall have been cured or waived), such Reporting Additional Interest will cease to accrue, and on such 180th calendar day, the Notes will be subject to acceleration and other remedies as provided in this Article Article 6 if the Event of Default is then continuing. For the avoidance of doubt, the provisions of this Section Section 6.13 will not affect the rights of Holders of Notes in the event of the occurrence of any other Event of Default. For the further avoidance of doubt, the Reporting Additional Interest shall not begin accruing until the Company fails to comply with Section Section 4.07(a) for a period of 60 calendar days after the Notice of Default of such failure is given to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in aggregate principal amount of outstanding Notes.
Appears in 1 contract
Sole Remedy for Failure to Report. Notwithstanding any other provision of this the Indenture, if the Company so elects, the sole remedy for an Event of Default relating to the failure of the Company to comply with its agreements the reporting obligations under Section 4.07(a) of this Indenture 3.08 will, for the 180 period beginning on the 91st calendar days day and ending on the 180th day after the written notice of the occurrence of such an Event failure to report from the Trustee or holders of Default25% of the Outstanding principal amount of the Notes, consist exclusively of the right to receive additional interest (“Reporting Additional Interest”) on the Notes at a rate equal to 0.25% per annum of the principal amount of the Notes and, if the Company so elects, for the period beginning on the 181st calendar day and ending on the 360th day after the written notice of the occurrence of such failure to report from the Trustee or holders of 25% of the Outstanding principal amount of the Notes, consist exclusively of the right to receive additional interest on the Notes at a rate equal to 0.50% per annumannum of the principal amount of the Notes (the “Additional Interest”). This Reporting Additional Interest will be payable in the same manner and on the same Interest Payment Dates and subject to dates as the same terms as other stated interest payable under on the Notes. If the Company so elects, this Indenture. Reporting Additional Interest will accrue on all outstanding Outstanding Notes from and including the 91st day following the date of such written notice of the failure to comply with Section 3.08 to but not including the date on which such the Event of Default relating to a failure to comply with the reporting obligations as set forth in Section 4.07(a) first occurs to but not including the 180th calendar day thereafter (or such earlier date on which such Event of Default 3.08 shall have been cured or waived). On such 180th the 270th calendar day after the commencement of such Additional Interest (or if such earlier date on which such Event of Default shall have been violation is not cured or waived), waived prior to such Reporting Additional Interest will cease to accrue, and on such 180th 270th calendar day), the Notes will be subject to acceleration and other remedies as provided in this Article 6 if Section 5.2 of the Original Indenture. In order to exercise the extension right and elect to pay the Additional Interest as the sole remedy following the occurrence of any Event of Default relating to the failure to comply with Section 3.08 in accordance with the preceding paragraph, the Company must notify all Noteholders and the Trustee and Paying Agent of such election prior to the close of business on the 91st calendar day after the written notice to the Company of such failure to report (or, if such date is then continuingnot a Business Day, on the first Business Day thereafter). Upon the Company’s failure to timely give such notice, the Notes will be subject to acceleration as provided in Section 5.2 of the Original Indenture. For the avoidance of doubt, the provisions of this Section 6.13 4.02 will not affect the rights of Holders of Notes Noteholders in the event of the occurrence of any other Event of Default. For the further avoidance of doubt, the Reporting Additional Interest shall not begin accruing until the Company fails to comply with Section 4.07(a) for a period of 60 calendar days after the Notice of Default of such failure is given to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in aggregate principal amount of outstanding Notes.
Appears in 1 contract
Sources: Supplemental Indenture (Energy Conversion Devices Inc)
Sole Remedy for Failure to Report. Notwithstanding any other provision of this Indenture, the sole remedy for an Event of Default relating to the failure of the Company to comply with its agreements under Section 4.07(a) of this Indenture will, 4.01 will for the 180 calendar days after the occurrence of such an Event of Default, Default consist exclusively of the right to receive additional interest (“Reporting Additional Interest”) on the principal amount of the Notes at a rate equal to 0.50% per annum. This Reporting Additional Interest will be payable in the same manner and on the same Interest Payment Dates and subject to the same terms as other interest payable under this Indenture. Reporting Additional Interest will accrue on all outstanding Outstanding Notes from from, and including including, the date on which such Event of Default relating to a failure to comply with such Section 4.07(a) 4.01 first occurs to but not including to, and including, the 180th calendar day thereafter (or such earlier date on which such the Event of Default relating to a failure to comply with such Section 4.01 shall have been cured or waived). On the calendar day after such 180th calendar day (or such earlier date on which such the Event of Default relating to a failure to comply with such Section 4.01 shall have been cured or waived), such Reporting Additional Interest will cease to accrue, and on such 180th 181st calendar day, day the Notes will be subject to acceleration and other remedies as provided in this Article 6 if the Event of Default is then continuing. For the avoidance of doubt, the provisions of this Section 6.13 6.10 will not affect the rights of Holders of Notes in the event of the occurrence of any other Event of Default. For the further avoidance of doubt, the Reporting Additional Interest shall not begin accruing until the Company fails to comply with such Section 4.07(a) 4.01 for a period of 60 calendar days after the Notice of Default written notice of such failure is given to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in aggregate principal amount of outstanding Outstanding Notes.
Appears in 1 contract
Sole Remedy for Failure to Report. Notwithstanding any other provision of this Indenture, the sole remedy for an Event of Default relating to the failure of the Company to comply with its agreements under Section 4.07(a3.4(a) of this Indenture will, will for the 180 90 calendar days after the occurrence of such an Event of Default, failure consist exclusively of the right to receive additional interest (“Reporting Additional Interest”) on the principal amount of the Notes Securities at a rate equal to 0.500.5% per annum. This Reporting Additional Interest will be payable in the same manner and on the same Interest Payment Dates interest payment dates and subject to the same terms as other interest payable under this Indenture. Reporting Additional Interest will accrue on all outstanding Notes Securities from and including the date on which such Event of Default relating to a failure to comply with Section 4.07(a3.4(a) first occurs to but not including the 180th 90th calendar day thereafter (or such earlier date on which such Event of Default failure to comply with Section 3.4(a) shall have been cured or waived). On such 180th 90th calendar day (or such earlier date on which such Event of Default failure to comply with Section 3.4(a) shall have been cured or waived), such Reporting Additional Interest will cease to accrue, accrue and on such 180th 90th calendar day, day the Notes Securities will be subject to acceleration and other remedies as provided in this Article 6 VI if the Event of Default is then continuing. For the avoidance of doubt, the provisions of this Section 6.13 will not affect the rights of Holders of Notes Securities in the event of the occurrence of any other Event of Default. For the further avoidance of doubt, the Reporting Additional Interest shall not begin accruing until the Company fails to comply with Section 4.07(a3.4(a) for a period of 60 calendar days after the Notice of Default written notice of such failure is given to the Company by the Trustee or to the Company and the Trustee by the Holders Holder of at least 25% in aggregate principal amount of outstanding Notesthe Securities then outstanding.
Appears in 1 contract
Sole Remedy for Failure to Report. Notwithstanding any other provision of this Indenture, the sole remedy for an Event of Default relating to the failure of the Company to comply with its agreements under Section Section 4.07(a) of this Indenture will, for the 180 calendar days after the occurrence of such an Event of Default, consist exclusively of the right to receive additional interest (“Reporting Additional Interest”) on the principal amount of the Notes at a rate equal to 0.50% per annum. This Reporting Additional Interest will be payable in the same manner and on the same Interest Payment Dates and subject to the same terms as other interest payable under this Indenture. Reporting Additional Interest will accrue on all outstanding Notes from and including the date on which such Event of Default relating to a failure to comply with Section Section 4.07(a) first occurs to but not including the 180th calendar day thereafter (or such earlier date on which such Event of Default shall have been cured or waived). On such 180th calendar day (or such earlier date on which such Event of Default shall have been cured or waived), such Reporting Additional Interest will cease to accrue, and on such 180th calendar day, the Notes will be subject to acceleration and other remedies as provided in this Article Article 6 if the Event of Default is then continuing. For the avoidance of doubt, the provisions of this Section Section 6.13 will not affect the rights of Holders of Notes in the event of the occurrence of any other Event of Default. For the further avoidance of doubt, the Reporting Additional Interest shall not begin accruing until the Company fails to comply with Section Section 4.07(a) for a period of 60 calendar days after the Notice of Default of such failure is given to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 2525.0% in aggregate principal amount of outstanding Notes.
Appears in 1 contract
Sources: Senior Convertible Notes Indenture (Central European Media Enterprises LTD)
Sole Remedy for Failure to Report. Notwithstanding any other provision of this the Indenture, if the Company so elects, the sole remedy for an Event of Default relating to the failure of the Company to comply with its agreements the reporting obligations under Section 4.07(a) of this Indenture 3.05 will, for the 180 period beginning on the 91st calendar days day after the written notice of the occurrence of such an Event failure to report from the Trustee or Holders of Default25% of the outstanding principal amount of the Notes, consist exclusively of the right to receive additional interest (“Reporting Additional Interest”) on the principal amount of the Notes at a rate equal to 0.500.25% per annumannum of the principal amount of the Notes (the “Additional Interest”). This Reporting Additional Interest will be payable in the same manner and on the same Interest Payment Dates and subject to dates as the same terms as other stated interest payable under on the Notes. If the Company so elects, this Indenture. Reporting Additional Interest will accrue on all outstanding Notes from and including the 91st day following the date of such written notice of the failure to comply with Section 3.05 to but not including the date on which such the Event of Default relating to a failure to comply with the reporting obligations as set forth in Section 4.07(a) first occurs to but not including the 180th calendar day thereafter (or such earlier date on which such Event of Default 3.05 shall have been cured or waived). On such the 180th calendar day after the commencement of such Additional Interest (or if such earlier date on which such Event of Default shall have been violation is not cured or waived), such Reporting Additional Interest will cease waived prior to accrue, and on such 180th calendar day), the Notes will be subject to acceleration upon written notice from the Trustee or holders of 25% of the outstanding principal amount of the Notes. In order to exercise the extension right and other remedies elect to pay the Additional Interest as the sole remedy following the occurrence of any Event of Default relating to the failure to comply with Section 3.06 in accordance with the preceding paragraph, the Company must notify all Noteholders and the Trustee and Paying Agent of such election prior to the close of business on the 91st calendar day after the written notice to the Company of such failure to report (or, if such date is not a Business Day, on the first Business Day thereafter). Upon the Company’s failure to timely give such notice, the Notes will be subject to acceleration as provided in this Article 6 above. Notwithstanding the preceding paragraph, if an Event of Default occurs under any other series of the Company’s debt securities issued subsequent to the issuance of the Notes resulting from its failure to comply with such reporting obligations and such Event of Default is not subject to extension on terms similar to the above and results in the principal amount of such debt securities becoming due and payable, then continuingthe extension right will no longer apply and the Notes will be subject to acceleration as provided above. For the avoidance of doubt, the provisions of this Section 6.13 4.02 will not affect the rights of Holders of Notes Noteholders in the event of the occurrence of any other Event of Default. For the further avoidance of doubt, the Reporting Additional Interest shall not begin accruing until the Company fails to comply with Section 4.07(a) for a period of 60 calendar days after the Notice of Default of such failure is given to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in aggregate principal amount of outstanding Notes.
Appears in 1 contract
Sources: Supplemental Indenture (Ferro Corp)