Common use of Acceleration on Default Clause in Contracts

Acceleration on Default. In case any event of default hereunder has occurred, the Trustee may in its discretion and shall upon receipt of a Debentureholders’ Request declare the principal of and interest on all Debentures then outstanding and other moneys payable hereunder to be due and payable and the same shall forthwith become immediately due and payable to the Trustee on demand, anything therein or herein to the contrary notwithstanding, and the Corporation shall on such demand forthwith pay to the Trustee for the benefit of the Debentureholders the principal of and accrued and unpaid interest and interest on amounts in default on such Debentures (and, where such a declaration is based upon a voluntary winding-up or liquidation of the Corporation, the premium (if any) on the Debentures then outstanding which would have been payable upon the redemption thereof by the Corporation, other than through sinking fund operations, on the date of such declaration) and all other moneys payable thereunder together with subsequent interest thereon at the rates borne by the Debentures from the date of the said declaration until payment is received by the Trustee, such subsequent interest to be payable at the times and places and in the moneys mentioned in and according to the tenor of the Debentures and coupons. Such payment when made shall be deemed to

Acceleration on Default. In case any event If an Event of default Default hereunder has occurredoccurred and is continuing, then the Trustee may in its discretion discretion, and shall upon receipt of a Debentureholders’ Request ' Request, declare the principal of and interest on all Debentures then outstanding and other moneys monies payable hereunder to be due and payable and the same such amounts shall forthwith become immediately due and payable to the Trustee on demand, anything therein or herein to the contrary notwithstanding, and the . The Corporation shall on such demand forthwith pay to the Trustee for the benefit of the Debentureholders the principal of of, and accrued and unpaid interest and interest on amounts in default on on, such Debentures (and, where such a declaration is based upon a voluntary dissolution, winding-up or liquidation of the Corporation, the premium (premium, if any) , on the Debentures then outstanding which would have been payable upon the redemption thereof by the Corporation, other than through sinking fund operations, on the date of such declaration) and all other moneys monies payable thereunder together with subsequent interest thereon at the rates borne by the Debentures from the date of the said such declaration until payment is received by the Trustee, such subsequent interest to be payable at the times and places and in the moneys monies mentioned in and according to the tenor of the Debentures and coupons. Such payment when made shall be deemed toto have been made in satisfaction of the Corporation's obligations hereunder and any monies so received by the Trustee shall be applied as herein provided.

Acceleration on Default. In case any event Subject to Section 8.4, if an Event of default hereunder Default has occurred, the Trustee may in its discretion and shall shall, upon prior funding and indemnity and receipt of a Debentureholders’ Request requisition in writing made by Holders of at least 51% in aggregate principal amount of the Notes then outstanding, or if the default shall be made only in respect of one or more Series of the Notes then outstanding, then the Trustee shall, upon prior funding and indemnity and receipt of a requisition in writing of the holders of at least 51% in principal amount of the Notes of such Series then outstanding, declare the principal of and interest accrued on all Debentures then outstanding the Notes, and all other moneys payable hereunder amounts, if any, owing under the provisions of this Indenture, to be due and payable to the Trustee on demand, and the same shall forthwith become immediately due and payable to the Trustee on demand, anything therein or herein contained to the contrary notwithstanding, and the Corporation shall Issuer shall, on such demand demand, forthwith pay to the Trustee Trustee, for the benefit of the Debentureholders Noteholders, the principal of and accrued and unpaid interest and interest, if any, then accrued upon all such Notes (including interest on amounts in default on such Debentures (anddefault), where such a declaration is based upon a voluntary winding-up or liquidation and all other amounts owing under the provisions of this Indenture, together with interest at the Corporation, the premium (if any) on the Debentures then outstanding which would have been payable upon the redemption thereof respective rates borne by the Corporation, other than through sinking fund operations, on Notes from the date of such declaration) and all other moneys payable thereunder together with subsequent interest thereon at the rates borne by the Debentures from declaration to the date of the said declaration until payment is received by the Trustee, subject to such subsequent interest funds necessary to be payable at the times and places and pay such amounts being available in the moneys mentioned a sinking fund, if any, in and according to the tenor respect of the Debentures Notes, in which case the Trustee will first have recourse to payment of such amounts from any such sinking fund prior to making demand for payment from the Issuer and couponswill only seek demand for payment from the Issuer once all funds in such sinking fund are exhausted. Such payment payments, when made received, shall be deemed toto have been in discharge of the Issuer’s obligations under this Indenture and any amounts so received by the Trustee shall be applied in the manner specified in Section 8.7.

Acceleration on Default. In case If any event Event of default hereunder Default has occurredoccurred and is continuing, the Trustee Secured Party may in its discretion discretion, and shall upon receipt of a Debentureholders’ Request ' Request, subject to Section 7.4 of the Indenture, by notice in writing to the Debtor declare the principal of and interest on all the Debentures then outstanding and any other moneys payable hereunder to be due and payable and the same shall forthwith become immediately due and payable to the Trustee on demand, anything therein or herein Secured Party and the Debtor shall pay forthwith to the contrary notwithstanding, and the Corporation shall on such demand forthwith pay to the Trustee Secured Party for the benefit of the Debentureholders the principal of and accrued and unpaid interest and (including interest on amounts in default default) on such Debentures (and, where such a declaration is based upon a voluntary winding-up or liquidation of the Corporation, the premium (if any) on the Debentures then outstanding which would have been payable upon the redemption thereof by the Corporation, other than through sinking fund operations, on the date of such declaration) and all other moneys payable thereunder hereunder, together with subsequent interest thereon at the rates rate borne by the Debentures from the date of the said such declaration until payment is received by the Trustee, such subsequent interest to be payable at the times and places and in the moneys mentioned in and according to the tenor of the Debentures and couponsSecured Party. Such payment when made shall be deemed toto have been made in discharge of the Debtor's obligations hereunder and any moneys so received by the Secured Party shall be applied as provided in Section 8.7 of the Indenture. Notwithstanding anything contained in the foregoing or elsewhere in this Indenture, in the event that the Event of Default (other than the Event of Default set out in Sections 7.1.1(d), 7.1.1(e), 7.1.1(f) and 7.1.1(g) of the Indenture has occurred and the Applicable Cure Period has expired, then all principal and interest on the Debentures then outstanding and any other monies due and payable hereunder shall forthwith immediately become due and payable to the Secured Party without further action by the Secured Party.