Note Event of Default definition

Examples of Note Event of Default in a sentence

• Upon any such waiver, such Note Event of Default shall cease to exist and any Note Event of Default arising therefrom shall be deemed to have been cured for every purpose of the Indenture; but no such waiver shall affect any subsequent Note Event of Default or impair any right consequent thereon.

• If a Note Event of Default has occurred and is continuing, the Note Trustee shall exercise any or all of the rights and powers vested in it by these presents and use the same degree of care and skill in its exercise as a prudent person would exercise or use under the circumstances in the conduct of such person's own affairs in accordance with Section 315(c) of the Trust Indenture Act.

• Unless and until a Note Event of Default shall have occurred and be continuing, the Property Trustee or the Delaware Trustee, or both of them, may be removed at any time by Act of the Holders of the Common Securities.

• The Note Trustee may, at any time if a Note Event of Default is remedied to the reasonable satisfaction of the Note Trustee during any applicable grace period, by notice in writing to the Current Issuer and the relevant Agents, withdraw any notice given by the Note Trustee pursuant to Clause 11.1 (Actions of Agents after Notice by Note Trustee of a Note Event of Default) whereupon such Agents shall act as agents of the Current Issuer in accordance with the terms hereof.

• Under the Indenture, so long as no Note Event of Default pursuant to paragraphs (c), (e) or (f) of Section 5.1 of the Indenture has occurred and is continuing, the Depositor shall have the right, at any time and from time to time during the term of the Notes, to defer the payment of interest on the Notes for a period of up to twenty (20) consecutive quarterly interest payment periods (each such extended interest payment period, an “Extension Period”).