Common use of Waiver of Defaults and Events of Default Clause in Contracts

Waiver of Defaults and Events of Default. Subject to Sections 8.02, 8.07 and 11.02, the Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may waive an existing Default or Event of Default and its consequences, except an uncured Default or Event of Default in the payment of the principal of, premium, if any, or any accrued but unpaid interest on any Security, an uncured failure by the Company to convert any Securities into Common Stock or any Default or Event of Default in respect of any provision of this Indenture, the Guarantee or the Securities which, under Section 11.02, cannot be modified or amended without the consent of the Holder of each Security affected. When a Default or Event of Default is waived, it is cured and ceases to exist.

Appears in 2 contracts

Sources: Indenture (Bowater Inc), Indenture (AbitibiBowater Inc.)

Waiver of Defaults and Events of Default. Subject to Sections 8.02, 8.07 Section 7.08 and 11.02Section 10.02, the Holders of a majority in aggregate principal amount of the Securities then outstanding by written notice to the Trustee may waive an existing Default default or Event of Default and its consequences, except an uncured Default or Event of Default in the payment with respect to (a) nonpayment of the principal of, premiumof and accrued and unpaid interest, if any, or any accrued but unpaid interest on any Security, an uncured (b) a failure by the Company to convert pay or deliver the consideration due upon conversion in accordance with the provisions of the Securities and this Indenture, (c) any Securities into Common Stock or any Default default or Event of Default in respect of any provision of this Indenture, the Guarantee Indenture or the Securities whichthat, under Section 11.0210.02, cannot be modified or amended without the consent of each affected Holder or (d) a failure by the Holder Company to make any repurchase of each Security affectedSecurities when required by this Indenture. When a Default default or Event of Default is waived, it is cured and ceases to existceases.

Appears in 1 contract

Sources: Indenture (Ezcorp Inc)

Waiver of Defaults and Events of Default. Subject to Sections 8.02, 8.07 7.07 and 11.0210.02, the Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may waive an existing Default or Event of Default and its consequences, except an uncured Default or Event of Default in if the payment of Company fails to pay the principal of, premium, if any, or any accrued but unpaid interest interest, including Contingent Interest, on any Security, an uncured failure by the Company fails to convert any Securities into cash or, if applicable, Common Stock Stock, or any Default or Event of Default in respect of any provision of this Indenture, the Guarantee Indenture or the Securities which, under Section 11.0210.02, cannot be modified or amended without the consent of the Holder of each Security affected. When a Default or Event of Default is waived, it is cured and ceases to exist.

Appears in 1 contract

Sources: Indenture (American Medical Systems Holdings Inc)

Waiver of Defaults and Events of Default. Subject to Sections 8.02, 8.07 6.7 and 11.029.2 hereof, the Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may waive an existing Default or Event of Default and its consequencesconsequence, except an uncured a Default or Event of Default in the payment of the principal of, premium, if any, or any accrued but unpaid interest or Additional Interest, if any, on any Security, an uncured failure by the Company to convert any Securities into Common Stock Security when due or any Default or Event of Default in respect of any provision of this Indenture, the Guarantee Indenture or the Securities which, under Section 11.029.2 hereof, cannot be modified or amended without the consent of the Holder of each Security affected. When a Default or Event of Default is waived, it is cured and ceases to existceases.

Appears in 1 contract

Sources: Indenture (Ribapharm Inc)

Waiver of Defaults and Events of Default. Subject to Sections 8.02, 8.07 7.07 and 11.0210.02 hereof, the Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may waive an existing Default or Event of Default and its consequences, except an uncured Default or Event of Default in the payment of the principal of, premium, if any, or any accrued but unpaid interest on any Security, an uncured failure by the Company to convert any Securities into Common Stock or any Default or Event of Default in respect of any provision of this Indenture, the Guarantee Indenture or the Securities which, under Section 11.0210.02 hereof, cannot be modified or amended without the consent of the Holder of each Security affected. When a Default or Event of Default is waived, it is cured and ceases to existceases.

Appears in 1 contract

Sources: First Supplemental Indenture (Hutchinson Technology Inc)

Waiver of Defaults and Events of Default. Subject to Sections 8.02, 8.07 7.7 and 11.0210.2, the Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may waive an existing Default or Event of Default and its consequences, except an uncured Default or Event of Default in the payment of the principal of, premium, if any, or any accrued but unpaid interest on any Security, an uncured failure by the Company to convert any Securities into Common Stock Shares or any Default or Event of Default in respect of any provision of this Indenture, the Guarantee Indenture or the Securities which, under Section 11.0210.2, cannot be modified or amended without the consent of the Holder of each Security affected. When a Default or Event of Default is waived, it is cured and ceases to existceases.

Appears in 1 contract

Sources: Indenture (ACE Aviation Holdings Inc.)

Waiver of Defaults and Events of Default. Subject to Sections 8.02, 8.07 7.07 and 11.0210.02, the Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may waive an existing Default or Event of Default and its consequencesDefault, except an uncured Default or Event of Default in if the payment of Company fails to pay the principal of, premium, if any, or any accrued but unpaid interest interest, including Contingent Interest, on any Security, an uncured failure by the Company fails to convert any Securities into cash or, if applicable, Common Stock Stock, or any Default or Event of Default in respect of any provision of this Indenture, the Guarantee Indenture or the Securities which, under Section 11.0210.02, cannot be modified or amended without the consent of the Holder of each Security affected. When a Default or Event of Default is waived, it is cured and ceases to exist.

Appears in 1 contract

Sources: Indenture (American Medical Systems Holdings Inc)

Waiver of Defaults and Events of Default. Subject to Sections 8.02, 8.07 7.07 and 11.0210.02, the Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may waive an existing Default or Event of Default and its consequences, except an uncured Default or Event of Default in the payment of the principal of, premium, if any, or any accrued but unpaid interest on any Security, an uncured failure by the Company to convert any Securities into Common Stock or any Default or Event of Default in respect of any provision of this Indenture, the Guarantee Indenture or the Securities which, under Section 11.0210.02, cannot be modified or amended without the consent of the Holder of each Security affected. When a Default or Event of Default is waived, it is cured and ceases to existceases.

Appears in 1 contract

Sources: Indenture (Pinnacle Airlines Corp)

Waiver of Defaults and Events of Default. Subject to Sections 8.02, 8.07 7.07 and 11.0210.02, the Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may waive an existing Default or Event of Default and its consequences, except an uncured Default or Event of Default in the payment of the principal of, premium, if any, or any accrued but unpaid interest on any Security, an uncured failure by the Company to convert any Securities into Common Stock and cash, as applicable, or any Default or Event of Default in respect of any provision of this Indenture, the Guarantee Indenture or the Securities which, under Section 11.0210.02, cannot be modified or amended without the consent of the Holder of each Security affected. When a Default or Event of Default is waived, it is cured and ceases to exist.

Appears in 1 contract

Sources: Indenture (American Oriental Bioengineering Inc)

Waiver of Defaults and Events of Default. Subject to Sections Section 8.02, Section 8.07 and Section 11.02, the Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may waive an existing Default or Event of Default and its consequencesconsequence, except an uncured a Default or Event of Default in the payment of the principal of, premiuminterest on or the Make Whole Premium, if any, or any accrued but unpaid interest on any Security, an uncured a failure by the Company to convert any Securities into Cash and Common Stock (if any), as the case may be, or any Default or Event of Default in respect of any provision of this Indenture, the Guarantee Indenture or the Securities whichthat, under Section 11.02, cannot be modified or amended without the consent of the Holder of each Security affected. When a Default or Event of Default is waived, it is cured and ceases to existceases.

Appears in 1 contract

Sources: Indenture (Century Aluminum Co)