Acceleration of Senior Debt. Upon maturity of any Senior Debt, whether by acceleration (unless waived or rescinded in writing), lapse of time or otherwise, no payment shall be made on account of principal of or interest on the Debentures until all principal of and accrued and unpaid interest on all such matured Senior Debt shall have been paid in full or such payment shall have been duly provided for.
Acceleration of Senior Debt. 22 6.3 Insolvency, Etc................................................... 23 6.4
Acceleration of Senior Debt. In the event that, as a consequence of any Senior Payment Default or any Significant Non-Payment Default, the holders of any Senior Debt, or any trustee or agent acting on behalf of any such holders, accelerate the maturity of such Senior Debt or demand that the Company repurchase the same, then, and in each such case, no direct or indirect payment (in cash, Property or Securities or by set-off or otherwise) shall be made or agreed to be made on account of any Subordinated Debt, or as a sinking fund for any Subordinated Debt, or in respect of any redemption, retirement, purchase, prepayment or other acquisition or payment of any Subordinated Debt until such time as such Senior Debt has been paid in full in cash or cash equivalents. The Company shall give prompt written notice to each holder of Subordinated Debt of its knowledge of the acceleration of the Maturity of any Senior Debt.
Acceleration of Senior Debt. In the event that the holders of any Senior Debt shall declare such Senior Debt to be due and payable prior to its stated maturity, no payment or distribution of any kind or character (whether in cash, Securities or other Property) shall be made on or in respect of any Subordinated Debt, and no holder of Subordinated Debt shall take or receive or retain from the Company or any Subsidiary, directly or indirectly, in cash, Securities or other Property or by way of set-off or in any other manner, payment of all or any of the Subordinated Debt until the earlier of (i) the payment in full, in cash, of such Senior Debt or (ii) the rescission or termination of such declaration. All payments in respect of the Subordinated Debt postponed under this 70 75 clause (c) shall be immediately due and payable upon the termination of such postponement (together with such additional interest as is provided herein and in the Notes for late payment of principal and/or interest).
Acceleration of Senior Debt. In the event that the holders of any Senior Debt shall declare such Senior Debt to be due and payable prior to its stated maturity in accordance with the Senior Credit Agreement, no payment or distribution of any kind or character (whether in cash, Securities or other Property) shall be made on or in respect of any Subordinated Debt, and no holder of Subordinated Debt shall take or receive from the Company, directly or indirectly, in cash, Securities or other Property or by way of set-off or in any other manner, payment of all or any of the Subordinated Debt until the earlier of (i) the payment in full of such Senior Debt or (ii) the rescission or termination of such declaration by the appropriate majority of holders of Senior Debt, as required under the Senior Credit Agreement, or as otherwise provided for in the Senior Credit Agreement or effected by operation of applicable law. All payments in respect of the Subordinated Debt postponed under this Section 11.3(b) shall be immediately due and payable upon the termination of such postponement (together with such additional interest as is provided herein and in the Notes for late payment of principal, Prepayment Compensation and/or interest); the remittance in full of such payments by the Company in accordance with the terms of the Financing Documents and the acceptance thereof by the holders of the Notes shall be deemed to constitute a cure by the Company and/or a waiver by the holders of the Notes of any Event of Default that existed immediately prior to such remittance and acceptance to the extent that such Event of Default existed solely as a consequence of the previous non- payment of such postponed payments during such period of postponement.
Acceleration of Senior Debt. 40 7.5 PAYMENT DEFAULT IN RESPECT OF SENIOR DEBT...............................................................40 7.6 SIGNIFICANT NONPAYMENT DEFAULT IN RESPECT OF SENIOR DEBT................................................41 7.7 STANDSTILL..............................................................................................42 7.8 TURNOVER OF PAYMENTS....................................................................................42 7.9 SUBORDINATION UNAFFECTED BY CERTAIN EVENTS..............................................................43 7.10
Acceleration of Senior Debt. In the event that the holders of any Senior Debt, or any trustee or agent acting on behalf of any such holders, accelerate the maturity of such Senior Debt or demand that the Company repurchase the same, then, and in each such case, no direct or indirect payment (in cash, Property or Securities or by set-off or otherwise) shall be made or agreed to be made on account of any Subordinated Debt, or as a sinking fund for any Subordinated Debt, or in respect of any redemption, retirement, purchase, prepayment or other acquisition or payment of any Subordinated Debt until such time as such Senior Debt has been paid in full in cash or cash equivalents. The Company shall give prompt written notice to each holder of Subordinated Debt of its knowledge of the acceleration of the maturity of any Senior Debt.
Acceleration of Senior Debt. Upon the acceleration of the Senior Debt, the exercise of the Lender’s rights, the distribution of assets, winding up, total or partial liquidation, dissolution, reorganization or readjustment of debt, custodianship, bankruptcy, receivership, or insolvency or upon an assignment for the benefit of creditors or upon any other marshalling of the assets and liabilities of the Borrowers or upon any similar proceeding relating to the Borrowers or its property (whether voluntary or involuntary): (a) all of the Senior Debt, whether or not then due and payable, will first be paid in full before any payment of principal, interest, or any other amount due under the Subordinated Debt; and (b) any payment or distribution of assets of the Borrowers of any kind or character, whether in cash, property or securities to which the Subordinated Lender would be otherwise entitled (but for the terms hereof), will be paid or delivered by the trustee in bankruptcy, receiver, assignee for the benefit of creditors or other similar person making such distribution directly to the Lender for application to the payment of the Senior Debt until the Senior Debt is paid in full in cash.
Acceleration of Senior Debt. Obligations under the Senior Debt shall have been accelerated or the Senior Agent or any of the Senior Lenders shall have commenced the taking of any action to setoff against, sweep, or otherwise exercise any rights or remedies against any deposit account or securities account of the Company.
Acceleration of Senior Debt. The Company agrees, for the benefit of Purchaser, that if the Senior Debt is declared due and payable before its expressed maturity because of a default thereunder, (a) the Company shall give prompt notice thereof to Purchaser and (b) if allowed by the Intercreditor Agreement, the Note and the indebtedness evidenced thereby shall become immediately due and payable upon demand, regardless of the expressed maturity thereof.
