Conditional Waiver by Holders of Notes Clause Samples
The "Conditional Waiver by Holders of Notes" clause allows noteholders to temporarily relinquish certain rights or claims under specified conditions. Typically, this waiver becomes effective only if particular events occur or requirements are met, such as the issuer fulfilling certain obligations or making specific payments. This clause provides flexibility in managing defaults or breaches by enabling noteholders to grant relief without permanently forfeiting their rights, thereby facilitating negotiations and potentially avoiding immediate enforcement actions.
Conditional Waiver by Holders of Notes. Anything in the Indenture to the contrary notwithstanding, the Company may fail or omit in any particular instance to comply with a covenant or condition set forth herein with respect to the Notes if the Company shall have obtained and filed with the Trustee, prior to the time of such failure or omission, evidence (as provided in Article IX) of the consent of the Holders of a majority in aggregate principal amount of the Notes at the time Outstanding, either waiving such compliance in such instance or generally waiving compliance with such covenant or condition, but no such waiver shall extend to or affect such covenant or condition except to the extent so expressly waived, or impair any right consequent thereon and, until such waiver shall have become effective, the obligations of the Company and the duties of the Trustee in respect of any such covenant or condition shall remain in full force and effect.