Common use of Acceleration of Payment of Securities Clause in Contracts

Acceleration of Payment of Securities. If payment of the Securities is accelerated because of an Event of Default, the Company, the Subsidiary Guarantors or the Trustee shall promptly notify the holders of the Designated Senior Indebtedness and their Representatives of the acceleration. If any Designated Senior Indebtedness is outstanding, neither the Company (in the case of any Designated Senior Indebtedness of the Company) nor any Subsidiary Guarantor (in the case of any Designated Senior Indebtedness of such Subsidiary Guarantor) may pay the Securities, either directly or pursuant to the Subsidiary Guarantee, until five Business days after the Representative of such Designated Senior Indebtedness receives notice of such acceleration and, thereafter, the Company (in the case of any Designated Senior Indebtedness of the Company) or such Subsidiary Guarantor (in the case of any Designated Senior Indebtedness of such Subsidiary Guarantor) may pay the Securities, either directly or pursuant to the Subsidiary Guarantee, only if this Article X otherwise permits payments at that time.