Common use of Acceleration of Maturity; Rescission Clause in Contracts

Acceleration of Maturity; Rescission. (a) If an Event of Default (other than an Event of Default specified in Section 7.01(f) or Section 7.01(g)) occurs and is continuing, the Trustee or the Holders of at least 25% of the aggregate principal amount of the Outstanding Securities, by written notice to the Issuer and the Guarantor (and to the Trustee if such notice is given by the Holders), may, and the Trustee at the request of such Holders shall, subject to the Trustee’s right to receive security and/or indemnification from such Holders at its sole discretion to its satisfaction, declare all unpaid principal of, and any accrued and unpaid interest on, all the Securities (and any Additional Amounts payable in respect thereof) to be due and payable immediately. Notwithstanding the foregoing, in the event of an Event of Default specified in Section 7.01(f) or Section 7.01(g), the amounts described above shall by such fact itself automatically become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder.