Common use of Annulment of Acceleration Clause in Contracts

Annulment of Acceleration. If, in compliance with the requirements of Section 7.2 of the Indenture, the Trustee shall annul an acceleration declared due to any Event of Default under the Indenture, such annulment shall be deemed to also rescind any acceleration of all payments required under Section 6.4. In case of any such annulment, or in case any proceeding taken by the Trustee on account of any such Event of Default shall have been discontinued or abandoned or determined adversely, then and in every such case the Issuer, the Company, the Trustee and the Registered Owners shall be restored to their former positions and rights hereunder, but no such annulment shall extend to any subsequent or other Event of Default or impair any right consequent thereon.

Appears in 10 contracts

Samples: Loan Agreement (York Water Co), Loan Agreement (York Water Co), Loan Agreement (York Water Co)

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Annulment of Acceleration. If, in compliance with the requirements of Section 7.2 9.02 of the Indenture, the Trustee shall annul an acceleration declared due to any Event of Default under the Indenture, Indenture such annulment shall be deemed to also rescind any acceleration of all payments required under Section 6.44.4. In case of any such annulment, or in case any proceeding taken by the Trustee on account of any such Event of Default shall have been discontinued or abandoned or determined adversely, then and in every such case the Issuer, the Company, the Trustee and the Registered Owners shall be restored to their former positions and rights hereunder, but no such annulment shall extend to any subsequent or other Event of Default or impair any right consequent thereon.

Appears in 2 contracts

Samples: Loan Agreement (Dte Energy Co), Loan Agreement (Dte Energy Co)

Annulment of Acceleration. If, in compliance with the requirements of Section 7.2 of the Indenture, the Trustee shall annul an acceleration declared due to any Event of Default under the Indenture, such annulment shall be deemed to also rescind any acceleration of all payments required under Section 6.45.4. In case of any such annulment, or in case any proceeding taken by the Trustee on account of any such Event of Default shall have been discontinued or abandoned or determined adversely, then and in every such case the Issuer, the Company, the Trustee and the Registered Owners shall be restored to their former positions and rights hereunder, but no such annulment shall extend to any subsequent or other Event of Default or impair any right consequent thereon.

Appears in 1 contract

Samples: Loan Agreement (York Water Co)

Annulment of Acceleration. If, in compliance with the requirements of Section 7.2 10.2 of the Indenture, the Trustee shall annul an acceleration declared due to any Event of Default under the Indenture, Indenture such annulment shall be deemed to also rescind any acceleration of all payments required under Section 6.45.4 of this Agreement. In case of any such annulment, or in case any proceeding taken by the Trustee on account of any such Event of Default shall have been discontinued or abandoned or determined adversely, then and in every such case the Issuer, the Company, the Trustee and the Registered Owners shall be restored to their former positions and rights hereunder, but no such annulment shall extend to any subsequent or other Event of Default or impair any right consequent thereon.

Appears in 1 contract

Samples: Installment Sale Agreement (Alabama Power Co)

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Annulment of Acceleration. If, in compliance with the requirements of Section 7.2 11.02 of the Indenture, the Trustee shall annul an acceleration declared due to any Event of Default under the Indenture, Indenture such annulment shall be deemed to also automatically rescind any acceleration of all payments required under Section 6.47.2. In case of any such annulment, or in case any proceeding taken by the Trustee on account of any such Event of Default shall have been discontinued or abandoned or determined adversely, then and in every such case the Issuer, the Company, Company and the Trustee and the Registered Owners shall be restored to their former positions and rights hereunder, but no such annulment shall extend to any subsequent or other Event of Default or impair any right consequent thereon.

Appears in 1 contract

Samples: Financing Agreement (Zeigler Coal Holding Co)

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