Common use of Default on Designated Senior Debt Clause in Contracts

Default on Designated Senior Debt. (a) The Company may not make any payment or distribution to the Trustee or any Holder in respect of the Securities and may not acquire from the Trustee or any Holder any Securities for cash or property (other than (1) securities that are subordinated to at least the same extent as the Securities to (A) Senior Debt and (B) any securities issued in exchange for Senior Debt and (2) payments and other distributions made from any defeasance trust created pursuant to Section 8.05 hereof) until all principal and other Obligations with respect to the Senior Debt have been paid in full if:

Default on Designated Senior Debt. (a) The Company may not make any payment or distribution to the Trustee or any Holder in respect of Obligations with respect to the Securities Notes and may not acquire from the Trustee or any Holder any Securities Notes for cash or property (other than (1i) securities that are subordinated to at least the same extent as the Securities Notes to (Aa) Senior Debt and (Bb) any securities issued in exchange for Senior Debt and (2ii) payments and other distributions made from any defeasance trust created pursuant to Section 8.05 8.01 hereof) until all principal and other Obligations with respect to the Senior Debt have been paid in full if:

Default on Designated Senior Debt. (a) The Company may not make any payment or distribution to the Trustee or any Holder in respect of Obligations with respect to the Securities Notes and may not acquire from the Trustee or any Holder any Securities Notes for cash or property (other than (1) securities that are subordinated to at least the same extent as the Securities to (A) Senior Debt Permitted Junior Securities and (B) any securities issued in exchange for Senior Debt and (2) payments and other distributions made from any defeasance trust created pursuant to Section 8.05 8.01 hereof) and may not make any deposits with the Trustee pursuant to Article 8 or Section 4.24 until all principal and other Obligations with respect to the Senior Debt have been paid in full if:

Default on Designated Senior Debt. (a) The Company may not make any payment or distribution to the Trustee or any Holder in respect of the Securities and may not acquire from the Trustee or any Holder any Securities for cash or property (other than (1) securities that are subordinated to at least the same extent as the Securities to (A) Senior Debt and (B) any securities issued in exchange for Senior Debt and (2) payments and other distributions made from any defeasance trust created pursuant to Section 8.05 8.1 hereof) until all principal and other Obligations with respect to the Senior Debt have been paid in full if:

Default on Designated Senior Debt. (a) The Company may not make any payment or distribution to the Trustee or any Holder in respect of Obligations with respect to the Securities Securities, may not make any deposits with the Trustee pursuant to Section 8.01 hereof and may not acquire from the Trustee or any Holder any Securities for cash or property (other than (1) securities that are subordinated to at least the same extent as the Permitted Junior Securities to (A) Senior Debt and (B) any securities issued in exchange for Senior Debt and (2) payments and other distributions made from any defeasance trust the trust, if any, created pursuant to Section 8.05 hereofArticle VIII) (collectively, "pay the Securities") until all principal and other Obligations with respect to the Senior Debt have been paid in full if:

Default on Designated Senior Debt. (a) The Company may not make any payment (whether by redemption, purchase, retirements, defeasance or distribution to the Trustee otherwise) upon or any Holder in respect of the Securities and may not acquire from the Trustee or any Holder any Securities for cash or property (other than (1) payment of Equity Interests and securities that are subordinated to at least to the same extent as the Securities are subordinated to (A) Senior Debt and (B) any securities issued in exchange for Senior Debt and (2) payments and other distributions made from any defeasance trust created pursuant to Section 8.05 hereof) 8.1 hereof if the applicable deposit does not violate Article 8 or 10 of this Indenture), until all principal and other Obligations with respect to the Senior Debt of the Company have been paid in full if:

Default on Designated Senior Debt. (a) The Company may not make any payment or distribution to the Trustee or any Holder in respect of the Securities and may not acquire from the Trustee or any Holder any Securities for cash or property (other than (1) securities that are subordinated to at least the same extent as the Securities to (A) Senior Debt and (B) any securities issued in exchange for Senior Debt and (2) payments and other distributions made from any defeasance trust created pursuant to Section 8.05 1405 hereof) until all principal and other Obligations with respect to the Senior Debt have been paid in full if:

Default on Designated Senior Debt. (a) The Company may not make any payment or distribution to the Trustee or any Holder in respect of Obligations with respect to the Securities Notes including making any deposit in trust and may not acquire from the Trustee or any Holder any Securities Notes for cash or property nor may any Guarantor make any payment in respect of its Note Guarantee (other than (1) securities that are subordinated to at least the same extent as the Securities to (A) Senior Debt Permitted Junior Securities and (B) any securities issued in exchange for Senior Debt and (2) payments and other distributions made from any defeasance trust created pursuant to Section 8.05 8.01 hereof) until all principal and other Obligations with respect to the Senior Debt have been paid in full if: