Common use of Acceleration; Rescission and Annulment Clause in Contracts

Acceleration; Rescission and Annulment. If an Event of Default with respect to the Securities of any series at the time Outstanding occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of all of the Outstanding Securities of that series, by written notice to the Company (and, if given by the Holders, to the Trustee), may declare the principal (or, if the Securities of that series are Original Issue Discount Securities or Indexed Securities, such portion of the principal amount or other amount as may be specified in the terms of that series) of all the Securities of that series to be due and payable and upon any such declaration such principal (or, in the case of Original Issue Discount Securities or Indexed Securities, such specified amount) shall be immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in aggregate principal amount of the Outstanding Securities of that series, by written notice to the Trustee, may rescind and annul such declaration and its consequences if all existing Defaults and Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.7. Upon any such rescission, the parties hereto shall be restored respectively to their several positions and rights hereunder, and all rights, remedies and powers of the parties hereto shall continue as though no acceleration had occurred.

Appears in 14 contracts

Samples: Indenture (Know Labs, Inc.), Indenture (Tengion Inc), Indenture (WaferGen Bio-Systems, Inc.)

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Acceleration; Rescission and Annulment. If an Event of Default with respect to the Securities of any series at the time Outstanding occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of all of the Outstanding Securities of that series, by written notice to the Company (and, if given by the Holders, to the Trustee), may declare the principal amount (or, if the Securities of that series are Original Issue Discount Securities or Indexed Securities, such portion of the principal amount or other amount as may be specified in the terms of that series) of all the Securities of that series to be immediately due and payable and upon any such declaration such principal amount (or, in the case of Original Issue Discount Securities or Indexed Securities, such specified amount) shall be immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders holders of a majority in aggregate principal amount of the Outstanding Securities of that series, by written notice to the Trustee, may rescind and annul such declaration and its consequences if all existing Defaults and Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have has become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.7. Upon No such rescission shall affect any such rescission, the parties hereto shall be restored respectively to their several positions and rights hereunder, and all rights, remedies and powers of the parties hereto shall continue as though no acceleration had occurredsubsequent default or impair any right consequent thereon.

Appears in 10 contracts

Samples: Indenture (Pam Transportation Services Inc), Indenture (Universal Logistics Holdings, Inc.), Indenture (Covenant Transportation Group Inc)

Acceleration; Rescission and Annulment. If (a) Except as otherwise provided as contemplated by Section 3.01 with respect to any series of Securities, if any one or more of the above-described Events of Default (other than an Event of Default specified in Section 7.01(e) or 7.01(f)) shall happen with respect to the Securities of any series at the time Outstanding occurs Outstanding, then, and is continuingin each and every such case, during the continuance of any such Event of Default, the Trustee or the Holders of at least not less than 25% in aggregate principal amount of all of the Outstanding Securities of that series, by written notice to the Company (and, if given by the Holders, to the Trustee), such series then Outstanding may declare the principal (or, if the Securities of that series are Original Issue Discount Securities or Indexed Securities, such portion of the principal amount or other amount as may be specified in the terms of that series) of and all accrued but unpaid interest on all the Securities of that such series then Outstanding to be due and payable immediately by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or, in the case of Original Issue Discount Securities or Indexed Securities, such specified amount) shall be become immediately due and payable. At any time after If an Event of Default specified in Section 7.01(e) or 7.01(f) occurs and is continuing, then in every such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article providedcase, the Holders of a majority in aggregate principal amount of the Outstanding Securities of that series, by written notice to the Trustee, may rescind and annul such declaration and its consequences if all existing Defaults and Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have then Outstanding shall automatically, and without any declaration or any other action on the part of the Trustee or any Holder, become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.7and payable immediately. Upon any payment of such rescissionamounts in the Currency in which such Securities are denominated (subject to Section 3.11 and except as otherwise provided pursuant to Section 3.01), the parties hereto shall be restored respectively to their several positions and rights hereunder, and all rights, remedies and powers obligations of the parties hereto Company in respect of the payment of principal of and interest on the Securities of such series shall continue as though no acceleration had occurredterminate.

Appears in 10 contracts

Samples: Indenture (Tech Data Corp), Indenture (Higher One Holdings, Inc.), Indenture (Alphabet Inc.)

Acceleration; Rescission and Annulment. If an Event of Default with respect to the Securities of any series at the time Outstanding occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of all of the Outstanding outstanding Securities of that series, by written notice to the Company (and, if given by the Holders, to the Trustee), may declare the principal (or, if the Securities of that series are Original Issue Discount Securities or Indexed Securities, such portion of the principal amount or other amount as may be specified in the terms of that series) of all the Securities of that series to be due and payable and upon any such declaration such principal (or, in the case of Original original Issue Discount Securities or Indexed Securities, such specified amount) shall be immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in aggregate principal amount of the Outstanding outstanding Securities of that series, by written notice to the Trustee, may rescind and annul such declaration and its consequences if all existing Defaults and Events of Default with respect to Securities of that series, other than the non-payment nonpayment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.7. Upon No such rescission shall affect any such rescission, the parties hereto shall be restored respectively to their several positions and rights hereunder, and all rights, remedies and powers of the parties hereto shall continue as though no acceleration had occurredsubsequent default or impair any right consequent thereon.

Appears in 7 contracts

Samples: Trust Indenture (At&t Wireless Services Inc), At&t Wireless Services Inc, At&t Wireless Services Inc

Acceleration; Rescission and Annulment. If (a) Except as otherwise provided as contemplated by Section 3.01 with respect to any series of Securities, if any one or more of the above-described Events of Default (other than an Event of Default specified in Section 7.01(e) or 7.01(f)) shall happen with respect to the Securities of any series at the time Outstanding occurs Outstanding, then, and is continuingin each and every such case, during the continuance of any such Event of Default, the Trustee or the Holders of at least 25% or more in aggregate principal amount of all of the Outstanding Securities of that series, by written notice to the Company (and, if given by the Holders, to the Trustee), such series then Outstanding may declare the principal (or, if the Securities of that series are Original Issue Discount Securities or Indexed Securities, such portion of the principal amount or other amount as may be specified in the terms of that series) of and all accrued and unpaid interest on all the Securities of such series then Outstanding to be due and payable immediately by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such acceleration such principal amount (or specified amount) and accrued and unpaid interest thereon shall become immediately due and payable. If an Event of Default specified in Section 7.01(e) or 7.01(f) occurs and is continuing, then in every such case, the principal amount (or, if the Securities of that series to be due and payable and upon any such declaration such principal (or, in the case of are Original Issue Discount Securities or Indexed Securities, such specified amount) shall be immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment portion of the money due has been obtained principal amount as may be specified by the Trustee as hereinafter in this Article provided, the Holders of a majority in aggregate principal amount of the Outstanding Securities terms of that series, by written notice to the Trustee, may rescind ) of and annul such declaration accrued and its consequences if unpaid interest on all existing Defaults and Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have then Outstanding shall automatically, and without any acceleration or any other action on the part of the Trustee or any Holder, become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.7and payable immediately. Upon any payment of such rescissionamounts in the Currency in which such Securities are denominated (subject to the last paragraph of Section 7.01 and except as otherwise provided pursuant to Section 3.01), the parties hereto shall be restored respectively to their several positions and rights hereunder, and all rights, remedies and powers obligations of the parties hereto Company in respect of the payment of principal of and interest on the Securities of such series shall continue as though no acceleration had occurredterminate.

Appears in 7 contracts

Samples: Indenture (Myriad Genetics Inc), Indenture (DowDuPont Inc.), Western Asset Mortgage Capital Corp

Acceleration; Rescission and Annulment. If an Event of Default with respect to the Securities of any series at the time Outstanding occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of all of the Outstanding outstanding Securities of that series, by written notice to the Company (and, if given by the Holders, to the Trustee), may declare the principal (or, if the Securities of that series are Original Issue Discount Securities or Indexed Securities, such portion of the principal amount or other amount as may be specified in the terms of that series) of all the Securities of that series to be due and payable and upon any such declaration such principal (or, in the case of Original original Issue Discount Securities or Indexed Securities, such specified amount) shall be immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in aggregate principal amount of the Outstanding outstanding Securities of that series, by written notice to the Trustee, may rescind and annul such declaration and its consequences if all existing Defaults and Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.7. Upon No such rescission shall affect any such rescission, the parties hereto shall be restored respectively to their several positions and rights hereunder, and all rights, remedies and powers of the parties hereto shall continue as though no acceleration had occurredsubsequent default or impair any right consequent thereon.

Appears in 3 contracts

Samples: Ual Corp /De/, Ual Corp Capital Trust I, Ual Corp /De/

Acceleration; Rescission and Annulment. If an Event of Default with respect to the Securities of any series at the time Outstanding occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of all of the Outstanding Securities of that series, by written notice to the Company (and, if given by the Holders, to the Trustee), may declare the principal amount (or, if the Securities of that series are Original Issue Discount Securities or Indexed Securities, such portion of the principal amount or other amount as may be specified in the terms of that series) of all the Securities of that series to be immediately due and payable and upon any such declaration such principal amount (or, in the case of Original Issue Discount Securities or Indexed Securities, such specified amount) shall be immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in aggregate principal amount of the Outstanding Securities of that series, by written notice to the Trustee, may rescind and annul such declaration and its consequences if all existing Defaults and Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have has become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.7. Upon No such rescission shall affect any such rescission, the parties hereto shall be restored respectively to their several positions and rights hereunder, and all rights, remedies and powers of the parties hereto shall continue as though no acceleration had occurredsubsequent default or impair any right consequent thereon.

Appears in 3 contracts

Samples: Indenture (Amr Corp), Indenture (American Airlines Inc), Amr Corp

Acceleration; Rescission and Annulment. If an Event of Default with respect to the Securities of any series at the time Outstanding occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of all of the Outstanding Securities of that series, by written notice to the Company (and, if given by the Holders, to the Trustee), may declare the principal (or, if the Securities of that series are Original Issue Discount Securities or Indexed Securities, such portion of the principal amount or other amount as may be specified in the terms of that series) of all the Securities of that series to be due and payable and upon any such declaration such principal (or, in the case of Original Issue Discount Securities or Indexed Securities, such specified amount) shall be immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in aggregate principal amount of the Outstanding Securities of that series, by written notice to the Trustee, may rescind and annul such declaration and its consequences if all existing Defaults and Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.7. Upon No such rescission shall affect any such rescission, the parties hereto shall be restored respectively to their several positions and rights hereunder, and all rights, remedies and powers of the parties hereto shall continue as though no acceleration had occurredsubsequent default or impair any right consequent thereon.

Appears in 3 contracts

Samples: Indenture (America Online Inc), Indenture (America Online Inc), Indenture (Aol Time Warner Inc)

Acceleration; Rescission and Annulment. If (a) Except as otherwise provided as contemplated by Section 3.01 with respect to any series of Securities, if any one or more of the above-described Events of Default (other than an Event of Default specified in Section 7.01(e) or 7.01(f)) shall happen with respect to the Securities of any series at the time Outstanding occurs Outstanding, then, and is continuingin each and every such case, during the continuance of any such Event of Default, the Trustee or the Holders of at least 25% or more in aggregate principal amount of all of the Outstanding Securities of that series, by written notice to the Company (and, if given by the Holders, to the Trustee), such series then Outstanding may declare the principal (or, if the Securities of that series are Original Issue Discount Securities or Indexed Securities, such portion of the principal amount or other amount as may be specified in the terms of that series) of and all accrued but unpaid interest on all the Securities of that such series then Outstanding to be due and payable immediately by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or, in the case of Original Issue Discount Securities or Indexed Securities, such specified amount) and accrued but unpaid interest shall be become immediately due and payable. At any time after If an Event of Default specified in Section 7.01(e) or 7.01(f) occurs and is continuing, then, in every such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article providedcase, the Holders of a majority in aggregate principal amount of (or, if the Outstanding Securities of that series, by written notice to the Trustee, may rescind and annul such declaration and its consequences if all existing Defaults and Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have are Original Issue Discount Securities, such portion of the principal amount as may be specified in the terms of that series) of and all accrued but unpaid interest on all of the Securities of that series then Outstanding shall automatically, and without any declaration or any other action on the part of the Trustee or any Holder, become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.7and payable immediately. Upon any payment of such rescissionamounts in the Currency in which such Securities are denominated (subject to Section 7.01 and except as otherwise provided pursuant to Section 3.01), the parties hereto shall be restored respectively to their several positions and rights hereunder, and all rights, remedies and powers obligations of the parties hereto Company in respect of the payment of principal of and interest on the Securities of such series shall continue as though no acceleration had occurredterminate.

Appears in 3 contracts

Samples: Franklin Resources Inc, Shake Shack Inc., Shake Shack Inc.

Acceleration; Rescission and Annulment. If an Event of Default with respect to the Securities of any series at the time Outstanding occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of all of the Outstanding Securities of that series, series by written notice to the Company (and, and if given by the Holders, to the Trustee), may declare the principal (or, if the Securities of that series are Original Issue Discount Securities or Indexed Securities, such portion of the Original principal amount or other amount as may be specified in the terms of that series) of all of, accrued interest, if any, and Liquidated Damages, if any, on the Securities of that series to be due and payable and upon any such declaration such principal (or, in the case of Original Issue Discount Securities or Indexed Securities, such specified amount) and interest, if any, shall be immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in aggregate principal amount of the Outstanding Securities of that series, by written notice to the Trustee, may rescind and annul such declaration and its consequences if all existing Defaults and Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.7. Upon No such rescission shall affect any such rescission, the parties hereto shall be restored respectively to their several positions and rights hereunder, and all rights, remedies and powers of the parties hereto shall continue as though no acceleration had occurredsubsequent default or impair any right consequent thereon.

Appears in 2 contracts

Samples: Cihc Inc, Cihc Inc

Acceleration; Rescission and Annulment. If an Event of -------------------------------------- Default with respect to the Securities of any series at the time Outstanding occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of all of the Outstanding Securities of that series, by written notice to the Company (and, if given by the Holders, to the Trustee), may declare the principal (or, if the Securities of that series are Original Issue Discount Securities or Indexed Securities, such portion of the principal amount or other amount as may be specified in the terms of that series) of and accrued interest, if any, on all the Securities of that series to be due and payable and upon any such declaration such principal (or, in the case of Original Issue Discount Securities or Indexed Securities, such specified amount) and interest, if any, shall be immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in aggregate principal amount of the Outstanding Securities of that series, by written notice to the Trustee, may rescind and annul such declaration and its consequences if all existing Defaults and Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which that have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.7. Upon No such rescission shall affect any such rescission, the parties hereto shall be restored respectively to their several positions and rights hereunder, and all rights, remedies and powers of the parties hereto shall continue as though no acceleration had occurredsubsequent default or impair any right consequent thereon.

Appears in 2 contracts

Samples: Indenture (Acterna Corp), Acterna Corp

Acceleration; Rescission and Annulment. If an Event of Default with respect to the Securities of any series at the time Outstanding occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of all of the Outstanding outstanding Securities of that series, by written notice to the Company and the Guarantor (and, if given by the Holders, to the Trustee), may declare the principal (or, if the Securities of that series are Original Issue Discount Securities or Indexed Securities, such portion of the principal amount or other amount as may be specified in the terms of that series) of all the Securities of that series to be due and payable and upon any such declaration such principal (or, in the case of Original Issue Discount Securities or Indexed Securities, such specified amount) shall be immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in aggregate principal amount of the Outstanding outstanding Securities of that series, by written notice to the Trustee, may rescind and annul such declaration and its consequences if all existing Defaults and Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.7. Upon No such rescission shall affect any such rescission, the parties hereto shall be restored respectively to their several positions and rights hereunder, and all rights, remedies and powers of the parties hereto shall continue as though no acceleration had occurredsubsequent default or impair any right consequent thereon.

Appears in 2 contracts

Samples: Indenture (Northwest Airlines Inc /Mn), Northwest Airlines Inc /Mn

Acceleration; Rescission and Annulment. If an Event of Default with respect to the Securities of any series at the time Outstanding occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of all of the Outstanding Securities of that series, by written notice to the Company (and, if given by the Holders, to the Trustee), may declare the principal (or, if the Securities of that series are Original Issue Discount Securities or Indexed Securities, such portion of the original principal amount or other amount as may be specified in the terms of that series) of and accrued interest, if any, on all the Securities of that series to be due and payable and upon any such declaration such principal (or, in the case of Original Issue Discount Securities or Indexed Securities, such specified amount) and interest, if any, shall be immediately due and payable, PROVIDED, HOWEVER, that payment of principal and interest, if any, on the Securities of such series shall remain subordinated to the extent provided in Article 12. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in aggregate principal amount of the Outstanding Securities of that series, by written notice to the Trustee, may rescind and annul such declaration and its consequences if all existing Defaults and Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.7. Upon No such rescission shall affect any such rescission, the parties hereto shall be restored respectively to their several positions and rights hereunder, and all rights, remedies and powers of the parties hereto shall continue as though no acceleration had occurredsubsequent default or impair any right consequent thereon.

Appears in 2 contracts

Samples: Subordinated Indenture (Conseco Financing Trust X), Conseco Inc Et Al

Acceleration; Rescission and Annulment. If (a) Except as otherwise provided as contemplated by Section 3.01 with respect to any series of Securities, if any one or more of the above-described Events of Default (other than an Event of Default specified in Section 7.01(e) or 7.01(f)) shall happen with respect to the Securities of any series at the time Outstanding occurs Outstanding, then, and is continuingin each and every such case, during the continuance of any such Event of Default, the Trustee or the Holders of at least 25% or more in aggregate principal amount of all of the Outstanding Securities of that series, by written notice to the Company (and, if given by the Holders, to the Trustee), such series then Outstanding may declare the principal (or, if the Securities of that series are Original Issue Discount Securities or Indexed Securities, such portion of the principal amount or other amount as may be specified in the terms of that series) of and all accrued but unpaid interest (if any) on all the Securities of that such series then Outstanding to be due and payable immediately by a notice in writing to the Issuers (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or, in the case of Original Issue Discount Securities or Indexed Securities, such specified amount) and accrued but unpaid interest (if any) shall be become immediately due and payable. At any time after such a declaration If an Event of acceleration Default specified in Section 7.01(e) or 7.01(f) occurs and is continuing with respect to Securities of any series has been made and before a judgment or decree for payment of at the money due has been obtained by the Trustee as hereinafter time Outstanding, then, in this Article providedevery such case, the Holders of a majority in aggregate principal amount of (or, if the Outstanding Securities of that series, by written notice to the Trustee, may rescind and annul such declaration and its consequences if all existing Defaults and Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have are Original Issue Discount Securities, such portion of the principal amount as may be specified in the terms of that series) of and all accrued but unpaid interest (if any) on all of the Securities of such series then Outstanding shall automatically, and without any declaration or any other action on the part of the Trustee or any Holder, become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.7and payable immediately. Upon any payment of such rescissionamounts in the Currency in which such Securities are denominated (subject to Section 7.01 and except as otherwise provided pursuant to Section 3.01), the parties hereto shall be restored respectively to their several positions and rights hereunder, and all rights, remedies and powers obligations of the parties hereto Issuers in respect of the payment of principal of and interest on the Securities of such series shall continue as though no acceleration had occurredterminate.

Appears in 2 contracts

Samples: Indenture (J C Penney Co Inc), J C Penney Co Inc

Acceleration; Rescission and Annulment. If an Event of Default with respect to the Securities of any series at the time Outstanding occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of all of the Outstanding outstanding Securities of that series, by written notice to the Company (and, if given by the Holders, to the Trustee), may declare the principal (or, if the Securities of that series are Original Issue Discount Securities or Indexed Securities, such portion of the principal amount or other amount as may be specified in the terms of that series) of all the Securities of that series to be due and payable and upon any such declaration such principal (or, in the case of Original original Issue Discount Securities or Indexed Securities, such specified amount) shall be immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter provided in this Article providedArticle, the Holders of a majority in aggregate principal amount of the Outstanding outstanding Securities of that series, by written notice to the Trustee, may rescind and annul such declaration and its consequences if all existing Defaults and Events of Default with respect to Securities of that series, other than the non-payment nonpayment of the principal of Securities of that series which have that has become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.7. Upon No such rescission shall affect any such rescission, the parties hereto shall be restored respectively to their several positions and rights hereunder, and all rights, remedies and powers of the parties hereto shall continue as though no acceleration had occurredsubsequent default or impair any right consequent thereon.

Appears in 2 contracts

Samples: Robbins & Myers Inc, Robbins & Myers Inc

Acceleration; Rescission and Annulment. If (a) Except as otherwise provided as contemplated by Section 3.01 with respect to any series of Securities, if any one or more of the above-described Events of Default (other than an Event of Default specified in Section 7.01(e) or 7.01(f)) shall happen with respect to the Securities of any series at the time Outstanding occurs Outstanding, then, and is continuingin each and every such case, during the continuance of any such Event of Default, the Trustee or the Holders of at least 25% or more in aggregate principal amount of all of the Outstanding Securities of that series, by written notice to the Company (and, if given by the Holders, to the Trustee), such series then Outstanding may declare the principal (or, if the Securities of that series are Original Issue Discount Securities or Indexed Securities, such portion of the principal amount or other amount as may be specified in the terms of that series) of and all accrued but unpaid interest on all the Securities of such series then Outstanding to be due and payable immediately by a notice in writing to the Issuer and the Guarantor (and to the Trustee if given by Holders), and upon any such acceleration such principal amount (or specified amount) and interest shall become immediately due and payable. If an Event of Default specified in Section 7.01(e) or 7.01(f) occurs and is continuing, then in every such case, the principal of (or, if the Securities of that series to be due and payable and upon any such declaration such principal (or, in the case of are Original Issue Discount Securities or Indexed Securities, such specified amount) shall be immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment portion of the money due has been obtained principal amount as may be specified by the Trustee as hereinafter in this Article provided, the Holders of a majority in aggregate principal amount of the Outstanding Securities terms of that series, by written notice to the Trustee, may rescind ) of and annul such declaration and its consequences if all existing Defaults and Events of Default with respect to Securities of that series, other than the non-payment accrued but unpaid interest on all of the principal of Securities of that series which have then Outstanding shall automatically, and without any acceleration or any other action on the part of the Trustee or any Holder, become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.7and payable immediately. Upon any payment of such rescissionamounts in the Currency in which such Securities are denominated (subject to the last paragraph of Section 7.01 and except as otherwise provided pursuant to Section 3.01), the parties hereto shall be restored respectively to their several positions and rights hereunder, and all rights, remedies and powers obligations of the parties hereto Issuer in respect of the payment of principal of and interest on the Securities of such series shall continue as though no acceleration had occurredterminate.

Appears in 2 contracts

Samples: Indenture (Healthpeak OP, LLC), Fourteenth Supplemental Indenture (Healthpeak Properties, Inc.)

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Acceleration; Rescission and Annulment. If an Event of Default with respect to the Securities of any series at the time Outstanding (other than an Event of Default specified in clause (g) or (h) of Section 5.1) occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of all of the Outstanding Securities of that series, by written notice to received by the Company (and, if given by the Holders, to received by the Trustee), may declare the principal (or, if the Securities of that series are Original Issue Discount Securities or Indexed Securities, such portion of the principal amount or other amount as may be specified in the terms of that series) of and accrued interest, if any, on all the Securities of that series to be due and payable and upon any such declaration such principal (or, in the case of Original Issue Discount Securities or Indexed Securities, such specified amount) and interest, if any, shall be immediately due and payable. At any time after such a declaration If an Event of acceleration Default specified in clause (g) or (h) of Section 5.1 with respect to the Securities of any series has been made at the time Outstanding occurs and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article providedis continuing, the Holders of a majority in aggregate principal amount of the Outstanding Securities of that series, by written notice to the Trustee, may rescind and annul such declaration and its consequences if all existing Defaults and Events of Default with respect to Securities of that series, other than the non-payment of then the principal of (or, if the Securities of that series which have become due solely by are Original Issue Discount Securities or Indexed Securities, such declaration of acceleration, have been cured or waived as provided in Section 5.7. Upon any such rescission, the parties hereto shall be restored respectively to their several positions and rights hereunder, and all rights, remedies and powers portion of the parties hereto principal amount as may be specified in the terms of that series) of and accrued interest, if any, on all the Securities of that series shall continue as though no acceleration had occurredipso facto be immediately due and payable without any declaration or act on the part of the Trustee or any Holder of such Securities.

Appears in 2 contracts

Samples: Allied Waste Industries Inc, Allied Waste Industries Inc

Acceleration; Rescission and Annulment. If an Event of -------------------------------------- Default with respect to the Securities of any series at the time Outstanding occurs and is continuing, the Trustee or the Holders of at least 2533% in aggregate principal amount of all of the Outstanding Securities of that series, by written notice to the Company (and, if given by the Holders, to the Trustee), may declare the principal amount (or, if the Securities of that series are Original Issue Discount Securities or Indexed Securities, such portion of the principal amount or other amount as may be specified in the terms of that series) of all the Securities of that series to be due and payable and upon any such declaration such principal amount (or, in the case of Original Issue Discount Securities or Indexed Securities, such specified amount) shall be immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in aggregate principal amount of the Outstanding Securities of that series, by written notice to the Trustee, may rescind and annul such declaration and its consequences if all existing Defaults and Events of Default with respect to Securities of that series, other than the non-payment of the principal amount (or, in the case of Original Discount Securities, such specified amount) of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.7. Upon No such rescission shall affect any such rescission, the parties hereto shall be restored respectively to their several positions and rights hereunder, and all rights, remedies and powers of the parties hereto shall continue as though no acceleration had occurredsubsequent Default or impair any right consequent thereon.

Appears in 2 contracts

Samples: St Paul Bancorp Inc, St Paul Bancorp Inc

Acceleration; Rescission and Annulment. If (a) Except as otherwise provided as contemplated by Section 3.01 with respect to any series of Securities, if any one or more of the above-described Events of Default (other than an Event of Default specified in Section 7.01(e) or 7.01(f)) shall happen with respect to the Securities of any series at the time Outstanding occurs Outstanding, then, and is continuingin each and every such case, during the continuance of any such Event of Default, the Trustee or the Holders of at least 25% or more in aggregate principal amount of all of the Outstanding Securities of that series, by written notice to the Company (and, if given by the Holders, to the Trustee), such series then Outstanding may declare the principal (or, if the Securities of that series are Original Issue Discount Securities or Indexed Securities, such portion of the principal amount or other amount as may be specified in the terms of that series) of and all accrued and unpaid interest on all the Securities of such series then Outstanding to be due and payable immediately by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such acceleration such principal amount (or specified amount) and accrued and unpaid interest thereon shall become immediately due and payable. If an Event of Default specified in Section 7.01(e) or 7.01(f) occurs and is continuing, then in every such case, the principal amount (or, if the Securities of that series to are Original Issue Discount Securities, such portion of the principal amount as may be specified by the terms of that series) of and accrued and unpaid interest on all of the Securities of that series then Outstanding shall automatically, and without any acceleration or any other action on the part of the Trustee or any Holder, become due and payable and upon any immediately. Upon payment of such declaration such principal (or, amounts in the case Currency in which such Securities are denominated (subject to the last paragraph of Original Issue Discount Section 7.01 and except as otherwise provided pursuant to Section 3.01), all obligations of the Company in respect of the payment of principal of and interest on the Securities of such series shall terminate. (b) The provisions of Section 7.02(a), however, are subject to the condition that, at any time after the principal and accrued and unpaid interest on all the Securities of such series, to which any one or Indexed Securitiesmore of the above-described Events of Default is applicable, such specified amount) shall have been so declared to be immediately or shall have automatically become due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made , and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter provided in this Article providedArticle, the Holders of a majority in aggregate principal amount of the Outstanding Securities of that seriesSeries then Outstanding, by written notice to the Company and the Trustee, may rescind and annul annual such declaration acceleration if: (i) the Company has paid or deposited with the Trustee or Paying Agent a sum in the Currency in which such Securities are denominated (subject to the last paragraph of Section 7.01 and its consequences except as otherwise provided pursuant to Section 3.01) sufficient to pay: (A) all amounts owing the Trustee and any predecessor trustee hereunder under Section 11.01(a) (provided, however, that all sums payable under this clause (A) shall be paid in U.S. Dollars); (B) all accrued and unpaid interest, if any, upon all existing Defaults and Events of Default with respect to the Securities of such series with interest thereon to the extent that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.7. Upon any such rescission, the parties hereto interest thereon shall be restored respectively to their several positions and rights hereunderlegally enforceable, and all rights, remedies and powers of the parties hereto shall continue as though no acceleration had occurred.on any

Appears in 1 contract

Samples: SmileDirectClub, Inc.

Acceleration; Rescission and Annulment. If (a) Except as otherwise provided as contemplated by Section 3.01 with respect to any series of Securities, if any one or more of the above-described Events of Default (other than an Event of Default specified in Section 7.01(e) or 7.01(f)) shall happen with respect to the Securities of any series at the time Outstanding occurs Outstanding, then, and is continuingin each and every such case, during the continuance of any such Event of Default, the Trustee or the Holders of at least 25% or more in aggregate principal amount of all of the Outstanding Securities of that series, by written notice to the Company (and, if given by the Holders, to the Trustee), such series then Outstanding may declare the principal (or, if the Securities of that series are Original Issue Discount Securities or Indexed Securities, such portion of the principal amount or other amount as may be specified in the terms of that series) of and all accrued but unpaid interest on all the Securities of such series then Outstanding to be due and payable immediately by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such acceleration such principal amount (or specified amount) and interest shall become immediately due and payable. If an Event of Default specified in Section 7.01(e) or 7.01(f) occurs and is continuing, then in every such case, the principal of (or, if the Securities of that series to be due and payable and upon any such declaration such principal (or, in the case of are Original Issue Discount Securities or Indexed Securities, such specified amount) shall be immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment portion of the money due has been obtained principal amount as may be specified by the Trustee as hereinafter in this Article provided, the Holders of a majority in aggregate principal amount of the Outstanding Securities terms of that series, by written notice to the Trustee, may rescind ) of and annul such declaration and its consequences if all existing Defaults and Events of Default with respect to Securities of that series, other than the non-payment accrued but unpaid interest on all of the principal of Securities of that series which have then Outstanding shall automatically, and without any acceleration or any other action on the part of the Trustee or any Holder, become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.7and payable immediately. Upon any payment of such rescissionamounts in the Currency in which such Securities are denominated (subject to the last paragraph of Section 7.01 and except as otherwise provided pursuant to Section 3.01), the parties hereto shall be restored respectively to their several positions and rights hereunder, and all rights, remedies and powers obligations of the parties hereto Company in respect of the payment of principal of and interest on the Securities of such series shall continue as though no acceleration had occurredterminate.

Appears in 1 contract

Samples: Indenture (Healthpeak OP, LLC)

Acceleration; Rescission and Annulment. If an Event of Default with respect to the Securities of any series at the time Outstanding (other than an Event of Default specified in clause (g) or (h) of Section 5.1) occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of all of the Outstanding Securities of that series, by written notice to received by the Company (and, if given by the Holders, to received by the Trustee), may declare the principal (or, if the Securities of that series are Original Issue Discount Securities or Indexed Securities, such portion of the principal amount or other amount as may be specified in the terms of that series) of of, premium, if any, and accrued interest, if any, on all the Securities of that series to be due and payable and upon any such declaration such principal (or, in the case of Original Issue Discount Securities or Indexed Securities, such specified amount) ), premium, if any, and interest, if any, shall be immediately due and payable. If an Event of Default specified in clause (g) or (h) of Section 5.1 with respect to the Securities of any series at the time Outstanding occurs and is continuing, then the principal (or, if the Securities of that series are Original Issue Discount Securities or Indexed Securities, such portion of the principal amount as may be specified in the terms of that series) of, premium, if any, and accrued interest, if any, on all the Securities of that series shall be immediately due At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if all existing Defaults and Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.7. Upon any such rescission, the parties hereto shall be restored respectively to their several positions and rights hereunder, and all rights, remedies and powers of the parties hereto shall continue as though no acceleration had occurred.if

Appears in 1 contract

Samples: Allied Waste Industries Inc

Acceleration; Rescission and Annulment. If an Event of Default -44 with respect to the Securities of any series at the time Outstanding occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of all of the Outstanding Securities of that series, by written notice to the Company (and, if given by the Holders, to the Trustee), may declare then the principal (or, if the Securities of that series are Original Issue Discount Securities or Indexed Securities, such portion of the principal amount or other amount as may be specified in the terms of that series) of and accrued interest, if any, on all the Securities of that series to be due and payable and upon any such declaration such principal (or, in the case of Original Issue Discount Securities or Indexed Securities, such specified amount) shall ipso facto be immediately due and payablepayable without any declaration or act on the part of the Trustee or any Holder of such Securities. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in aggregate principal amount of the Outstanding Securities of that series, by written notice to the Trustee, may rescind and annul such declaration and its consequences if all existing Defaults and Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.7. Upon No such rescission shall affect any such rescission, the parties hereto shall be restored respectively to their several positions and rights hereunder, and all rights, remedies and powers of the parties hereto shall continue as though no acceleration had occurredsubsequent default or impair any right consequent thereon.

Appears in 1 contract

Samples: Senior Indenture (Eastern Environmental Services Inc)

Acceleration; Rescission and Annulment. If an Event of -------------------------------------- Default with respect to the Securities of any series at the time Outstanding occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of all of the Outstanding Securities of that series, by written notice to the Company (and, if given by the Holders, to the Trustee), may declare the principal amount (or, if the Securities of that series are Original Issue Discount Securities or Indexed Securities, such portion of the principal amount or other amount as may be specified in the terms of that series) of all the Securities of that series to be due and payable and upon any such declaration such principal amount (or, in the case of Original Issue Discount Securities or Indexed Securities, such specified amount) shall be immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in aggregate principal amount of the Outstanding Securities of that series, by written notice to the Trustee, may rescind and annul such declaration and its consequences if all existing Defaults and Events of Default with respect to Securities of that series, other than the non-payment of the principal amount (or, in the case of Original Discount Securities, such specified amount) of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.7. Upon No such rescission shall affect any such rescission, the parties hereto shall be restored respectively to their several positions and rights hereunder, and all rights, remedies and powers of the parties hereto shall continue as though no acceleration had occurredsubsequent Default or impair any right consequent thereon.

Appears in 1 contract

Samples: Farmland Industries Inc

Acceleration; Rescission and Annulment. If (a) Except as otherwise provided as contemplated by Section 3.01 with respect to any series of Securities, if any one or more of the above-described Events of Default (other than an Event of Default specified in Section 7.01(e) or 7.01(f)) shall happen with respect to the Securities of any series at the time Outstanding occurs Outstanding, then, and is continuingin each and every such case, during the continuance of any such Event of Default, the Trustee or the Holders of at least 25% or more in aggregate principal amount of all of the Outstanding Securities of that series, by written notice to the Company (and, if given by the Holders, to the Trustee), such series then Outstanding may declare the principal (or, if the Securities of that series are Original Issue Discount Securities or Indexed Securities, such portion of the principal amount or other amount as may be specified in the terms of that series) of and all accrued but unpaid interest on all the Securities of that such series then Outstanding to be due and payable immediately by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or, in the case of Original Issue Discount Securities or Indexed Securities, such specified amount) shall be become immediately due and payable. At If an Event of Default specified in Section 7.01(e) or 7.01(f) occurs and is continuing, then in every such case, the principal amount of all of the Securities of that series then Outstanding shall automatically, and without any declaration or any other action on the part of the Trustee or any Holder, become due and payable immediately. Upon payment of such amounts in the Currency in which such Securities are denominated (subject to Section 7.01 and except as otherwise provided pursuant to Section 3.01), all obligations of the Company in respect of the payment of principal of and interest on the Securities of such series shall terminate. Table of Contents Exhibit 4.7.1 (b) The provisions of Section 7.02(a), however, are subject to the condition that, at any time after such a declaration the principal of acceleration with respect to all the Securities of such series, to which any series has one or more of the above-described Events of Default is applicable, shall have been made so declared to be due and payable, and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter provided in this Article providedArticle, the Holders Event of a majority in aggregate principal amount Default giving rise to such declaration of the Outstanding Securities of that seriesacceleration shall, by written notice without further act, be deemed to the Trusteehave been waived, may rescind and annul such declaration and its consequences if all existing Defaults and Events of Default with respect shall, without further act, be deemed to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.7. Upon any such rescissionrescinded and annulled, the parties hereto shall be restored respectively to their several positions and rights hereunder, and all rights, remedies and powers of the parties hereto shall continue as though no acceleration had occurred.if:

Appears in 1 contract

Samples: Indenture (Healthsouth Corp)

Acceleration; Rescission and Annulment. If an Event of Default with respect to the Securities of any series at the time Outstanding occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of all of the Outstanding Securities of that series, by written notice to the Company (and, if given by the Holders, to the Trustee), may declare the principal amount (or, if the Securities of that series are Original Issue Discount Securities or Indexed Securities, such portion of the principal amount or other amount as may be specified in the terms of that series) of all the Securities of that series to be due and payable and upon any such declaration such principal amount (or, in the case of Original Issue Discount Securities or Indexed Securities, such specified amount) shall be immediately due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in aggregate principal amount of the Outstanding Securities of that series, by written notice to the Trustee, may rescind and annul such declaration and its consequences if all existing Defaults and Events of Default with respect to Securities of that series, other than the non-payment of the principal amount (or, in the case of Original Discount Securities, such specified amount) of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.7. Upon No such rescission shall affect any such rescission, the parties hereto shall be restored respectively to their several positions and rights hereunder, and all rights, remedies and powers of the parties hereto shall continue as though no acceleration had occurredsubsequent Default or impair any right consequent thereon.

Appears in 1 contract

Samples: Farmland Industries Inc

Acceleration; Rescission and Annulment. If (a) Except as otherwise provided as contemplated by Section 3.01 with respect to any series of Securities, if any one or more of the above-described Events of Default (other than an Event of Default specified in Section 7.01(e) or 7.01(f)) shall happen with respect to the Securities of any series at the time Outstanding occurs Outstanding, then, and is continuingin each and every such case, during the continuance of any such Event of Default, the Trustee or the Holders of at least 25% or more in aggregate principal amount of all of the Outstanding Securities of that series, by written notice to the Company (and, if given by the Holders, to the Trustee), such series then Outstanding may declare the principal (or, if the Securities of that series are Original Issue Discount Securities or Indexed Securities, such portion of the principal amount or other amount as may be specified in the terms of that series) of and all accrued and unpaid interest on all the Securities of such series then Outstanding to be due and payable immediately by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such acceleration such principal amount (or specified amount) and accrued and unpaid interest thereon shall become immediately due and payable. If an Event of Default specified in Section 7.01(e) or 7.01(f) occurs and is continuing, then in every such case, the principal amount (or, if the Securities of that series to are Original Issue Discount Securities, such portion of the principal amount as may be specified by the terms of that series) of and accrued and unpaid interest on all of the Securities of that series then Outstanding shall automatically, and without any acceleration or any other action on the part of the Trustee or any Holder, become due and payable and upon any immediately. Upon payment of such declaration such principal (or, amounts in the case Currency in which such Securities are denominated (subject to the last paragraph of Original Issue Discount Section 7.01 and except as otherwise provided pursuant to Section 3.01), all obligations of the Company in respect of the payment of principal of and interest on the Securities of such series shall terminate. (b) The provisions of Section 7.02(a), however, are subject to the condition that, at any time after the principal and accrued and unpaid interest on all the Securities of such series, to which any one or Indexed Securitiesmore of the above-described Events of Default is applicable, such specified amount) shall have been so declared to be immediately or shall have automatically become due and payable. At any time after such a declaration of acceleration with respect to Securities of any series has been made , and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter provided in this Article providedArticle, the Holders of a majority in aggregate principal amount of the Outstanding Securities of that series, by written notice to the Trustee, may rescind and annul such declaration and its consequences if all existing Defaults and Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.7. Upon any such rescission, the parties hereto shall be restored respectively to their several positions and rights hereunder, and all rights, remedies and powers of the parties hereto shall continue as though no acceleration had occurred.37

Appears in 1 contract

Samples: Vectrus, Inc.

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