Common use of Default on Designated Senior Indebtedness Clause in Contracts

Default on Designated Senior Indebtedness. The Company may not pay the principal of, premium (if any) or interest on the Securities or make any deposit pursuant to Section 8.01 and may not otherwise repurchase, redeem or otherwise retire any Securities (except that Holders may receive and retain Permitted Junior Securities) (collectively, "pay the Securities") if (a) a default in the payment of the principal of, premium, if any, or interest on any Designated Senior Indebtedness of the Company occurs and is continuing or any other amount owing in respect of any such Designated Senior Indebtedness is not paid when due, or (b) any other default on such Designated Senior Indebtedness occurs and the maturity of such Designated Senior Indebtedness is accelerated in accordance with its terms unless, in either case, (i) the default has been cured or waived and any such acceleration has been rescinded or (ii) such Designated Senior Indebtedness has been paid in full in cash or Cash Equivalents; provided, however, that the Company may pay the Securities without regard to the foregoing if the Company and the Trustee receive written notice approving such payment from the Representative of the holders of such Designated Senior Indebtedness with respect to which either of the events set forth in clause (a) or (b) of this sentence has occurred and is continuing. During the continuance of any default (other than a default described in clause (a) or (b) of the preceding sentence) with respect to any Designated Senior Indebtedness of the Company pursuant to which the maturity thereof may be accelerated immediately without further notice (except such notice as may be required to effect such acceleration) or the expiration of any applicable grace periods, the Company may not pay the Securities for a period (a "Payment Blockage Period") commencing upon the receipt by the Trustee (with a copy to the Company) of written notice (a "Blockage Notice") of such default from the Representative of the holders of such Designated Senior Indebtedness specifying an election to effect a Payment Blockage Period and ending 179 days thereafter (or earlier if such Payment Blockage Period is terminated (i) by written notice to the Trustee and the Company from the Person or Persons who gave such Blockage Notice, (ii) because such Designated Senior Indebtedness has been repaid in full in cash or Cash Equivalents or (iii) because the default giving rise to such Blockage Notice is no longer continuing). Notwithstanding the provisions described in the immediately preceding sentence (but subject to the provisions contained in the first sentence of this Section and in Section 10.02(b)), unless the holders of such Designated Senior Indebtedness or the Representative of such holders shall have accelerated the maturity of such Designated Senior Indebtedness, the Company may resume payments on the Securities after the end of such Payment Blockage Period, including any missed payments. Not more than one Blockage Notice may be given in any consecutive 360-day period, irrespective of the number of defaults with respect to Designated Senior Indebtedness during such period; provided, however, that if any Blockage Notice within such 360-day period is given by or on behalf of any holders of Designated Senior Indebtedness other than the Bank Indebtedness, the Representative of the Bank Indebtedness may give one additional Blockage Notice within such period; provided further, however, that in no event may the total number of days during which any Payment Blockage Period or Periods is in effect exceed 179 days in the aggregate during any 360 consecutive day period. For purposes of this Section 10.03, no default or event of default that existed or was continuing on the date of the commencement of any Payment Blockage Period with respect to the Designated Senior Indebtedness initiating such Payment Blockage Period shall be, or be made, the basis of the commencement of a subsequent Payment Blockage Period by the Representative of such Designated Senior Indebtedness, whether or not within a period of 360 consecutive days, unless such default or event of default shall have been cured or waived for a period of not less than 90 consecutive days.

Default on Designated Senior Indebtedness. (a) The Company may not pay the principal of, premium (if any) or interest on, the Notes or any other payment on or relating to the Securities Notes or under this Indenture, or make any deposit pursuant to Section 8.01 and may not otherwise repurchasepurchase, redeem or otherwise retire any Securities Notes (except that Holders may receive and retain (a) Permitted Junior SecuritiesSecurities and (b) payments made from the trust described in Section 8.01 so long as, on the date or dates the respective amounts were paid into the trust, such payments were made with respect to the Notes without violating this Article 10 or any other material agreement binding on the Company, including the Credit Agreement) (collectively, "“pay the Securities"Notes”) if (ai) a default in the payment of the principal of, premium, if any, or interest on any Designated Senior Indebtedness of the Company occurs and is continuing or any other amount owing in respect of any such Designated Senior Indebtedness is not paid when due, or (bii) any other default on such any Designated Senior Indebtedness of the Company occurs and the maturity of such Designated Senior Indebtedness is accelerated in accordance with its terms unless, in either case, (ix) the default has been cured or waived and any such acceleration has been rescinded or (iiy) such Designated Senior Indebtedness has been paid in full in cash or Cash Equivalents; providedcash. However, however, that the Company may pay the Securities Notes without regard to the foregoing if the Company and the Trustee receive written notice approving such payment from the Representative of each series of the holders of such Designated Senior Indebtedness with respect to which either of the events set forth in clause (ai) or (bii) of this the immediately preceding sentence has occurred and is continuing. During In addition to the foregoing, during the continuance of any default (other than a default described in clause (ai) or (bii) of the second preceding sentence) with respect to any Designated Senior Indebtedness of the Company pursuant to which the maturity thereof may be accelerated (x) immediately without further notice (except such notice as may be required to effect such acceleration) or (y) upon the expiration of any applicable grace periods, the Company may not pay the Securities Notes for a period (a "“Payment Blockage Period"”) commencing upon the receipt by the Trustee (with a copy to the Company) of written notice (a "“Blockage Notice"”) of such default from the Representative of the holders of such defaulted Designated Senior Indebtedness specifying an election to effect a Payment Blockage Period and ending on the earliest to occur of the following events: (1) 179 days thereafter shall have elapsed since the receipt of such Blockage Notice; (or earlier if 2) such Payment Blockage Period is terminated (i) by written notice to the Trustee and the Company from the Person or Persons who gave such Blockage Notice, ; (ii3) because such Designated Senior Indebtedness has been repaid the repayment in full in cash or Cash Equivalents of such defaulted Designated Senior Indebtedness; or (iii4) because the default giving rise to such Blockage Notice is no longer continuing). Notwithstanding the provisions described in the immediately preceding sentence (but subject to the provisions contained in the first sentence of this Section 10.03 and in Section 10.02(b)10.02), unless the holders of such defaulted Designated Senior Indebtedness or the Representative of such holders shall have accelerated the maturity of such Designated Senior Indebtedness, the Company may resume payments on the Securities Notes, after the end of such Payment Blockage Period, including any missed payments. Not more than one Blockage Notice may be given in any consecutive 360-day period, irrespective of the number of defaults with respect to Designated Senior Indebtedness during such period; provided, however, that if any Blockage Notice within such 360-day period is given by or on behalf of any holders of Designated Senior Indebtedness other than the Bank Indebtedness, the Representative of the Bank Indebtedness may give one additional Blockage Notice within such period; provided further, however, that in In no event may the total number of days during which any Payment Blockage Period or Periods is in effect exceed 179 days in the aggregate during any 360 consecutive day period. For purposes of this Section 10.03provision, no default or event of default that existed or was continuing on the date of the commencement of any Payment Blockage Period with respect to the Designated Senior Indebtedness initiating such Payment Blockage Period shall be, or be made, the basis of the commencement of a subsequent Payment Blockage Period by the Representative of such Designated Senior Indebtedness, whether or not within a period of 360 consecutive days, unless such default or event of default shall have been cured or waived for a period of not less than 90 consecutive days.

Default on Designated Senior Indebtedness. The Company may not pay the principal of, premium (if any) or interest on the Securities or make any deposit pursuant to Section 8.01 and may not otherwise repurchase, redeem or otherwise retire any Securities (except that Holders may receive and retain Permitted Junior Securities) (collectively, "pay the Securities") if (a) a If any default in the payment of the principal of, premium, if any, or interest on any Designated Senior Indebtedness of the Company occurs and is continuing in the payment when due, whether at maturity, upon any redemption, by declaration or otherwise, of any principal of, interest on, unpaid drawings for letters of credit issued in respect of, or regularly accruing fees with respect to, any Designated Senior Indebtedness, no payment of any kind or character shall be made by or on behalf of the Company or any other amount owing Person on its or their behalf with respect to any Obligations on the Notes or to acquire any of the Notes for cash or property or otherwise. In addition, if any other event of default occurs and is continuing with respect to any Designated Senior Indebtedness, as such event of default is defined in respect of any the instrument creating or evidencing such Designated Senior Indebtedness is not paid when dueIndebtedness, or (b) any other default on such Designated Senior Indebtedness occurs and the maturity of such Designated Senior Indebtedness is accelerated in accordance with its terms unless, in either case, (i) the default has been cured or waived and any such acceleration has been rescinded or (ii) such Designated Senior Indebtedness has been paid in full in cash or Cash Equivalents; provided, however, that the Company may pay the Securities without regard to the foregoing if the Company and the Trustee receive written notice approving such payment from the Representative of permitting the holders of such Designated Senior Indebtedness with respect then outstanding to which either accelerate the maturity thereof and if the Representative for the respective issue of Designated Senior Indebtedness gives notice of the event of default to the Trustee (a "Default Notice"), then, unless and until all events set forth in clause of default have been cured or waived or have ceased to exist or the Trustee receives notice thereof from the Representative for the respective issue of Designated Senior Indebtedness terminating the Blockage Period (aas defined below), during the 180 days after the delivery of such Default Notice (the "Blockage Period"), neither the Company nor any other Person on its behalf shall (x) or (b) of this sentence has occurred and is continuing. During the continuance make any payment of any default (other than a default described in clause (a) kind or (b) of the preceding sentence) character with respect to any Designated Senior Indebtedness Obligations on the Notes or (y) acquire any of the Company pursuant to which the maturity thereof may be accelerated immediately without further notice (except such notice as may be required to effect such acceleration) Notes for cash or the expiration of any applicable grace periods, the Company may not pay the Securities for a period (a "Payment Blockage Period") commencing upon the receipt by the Trustee (with a copy property or otherwise. Notwithstanding anything herein to the Company) of written notice (a "Blockage Notice") of such default from the Representative of the holders of such Designated Senior Indebtedness specifying an election to effect a Payment Blockage Period and ending 179 days thereafter (or earlier if such Payment Blockage Period is terminated (i) by written notice to the Trustee and the Company from the Person or Persons who gave such Blockage Noticecontrary, (ii) because such Designated Senior Indebtedness has been repaid in full in cash or Cash Equivalents or (iii) because the default giving rise to such Blockage Notice is no longer continuing). Notwithstanding the provisions described in the immediately preceding sentence (but subject to the provisions contained in the first sentence of this Section and in Section 10.02(b)), unless the holders of such Designated Senior Indebtedness or the Representative of such holders shall have accelerated the maturity of such Designated Senior Indebtedness, the Company may resume payments on the Securities after the end of such Payment Blockage Period, including any missed payments. Not more than one Blockage Notice may be given in any consecutive 360-day period, irrespective of the number of defaults with respect to Designated Senior Indebtedness during such period; provided, however, that if any Blockage Notice within such 360-day period is given by or on behalf of any holders of Designated Senior Indebtedness other than the Bank Indebtedness, the Representative of the Bank Indebtedness may give one additional Blockage Notice within such period; provided further, however, that in no event may the total number of days during which any Payment will a Blockage Period or Periods is in effect exceed 179 extend beyond 180 days in from the aggregate during date the payment on the Notes was due and only one such Blockage Period may be commenced within any 360 consecutive day perioddays. For purposes of this Section 10.03, no default or No event of default that which existed or was continuing on the date of the commencement of any Payment Blockage Period with respect to the Designated Senior Indebtedness initiating such Payment Blockage Period shall be, or be made, the basis of the for commencement of a subsequent Payment second Blockage Period by the Representative of such Designated Senior Indebtedness, Indebtedness whether or not within a period of 360 consecutive days, unless such default or event of default shall have been cured or waived for a period of not less than 90 consecutive daysdays (it being acknowledged that any subsequent action, or any breach of any financial covenants for a period commencing after the date of commencement of such Blockage Period that, in either case, would give rise to an event of default pursuant to any provisions under which an event of default previously existed or was continuing shall constitute a new event of default for this purpose).

Default on Designated Senior Indebtedness. The Company also may not pay make any payment upon or in respect of the principal of, premium Notes (if any) or interest on the except in Permitted Junior Securities or make any deposit pursuant to Section 8.01 and may from the trust described in Article 8 so long as the funding of such trust did not otherwise repurchase, redeem or otherwise retire any Securities (except that Holders may receive and retain Permitted Junior Securities) (collectively, "pay violate the Securities"provisions of this Article 11) if (ai) a default in the payment of the principal of, premium, if any, or interest on any Designated Senior Indebtedness of the Company occurs and is continuing or any other amount owing in respect of any such Designated Senior Indebtedness is not paid when due, or (b) any other default on such Designated Senior Indebtedness occurs and the maturity is continuing beyond any applicable period of such Designated Senior Indebtedness is accelerated in accordance with its terms unless, in either case, (i) the default has been cured or waived and any such acceleration has been rescinded grace or (ii) such Designated Senior Indebtedness has been paid in full in cash or Cash Equivalents; provided, however, that the Company may pay the Securities without regard to the foregoing if the Company and the Trustee receive written notice approving such payment from the Representative of the holders of such Designated Senior Indebtedness with respect to which either of the events set forth in clause (a) or (b) of this sentence has occurred any other default occurs and is continuing. During the continuance of any default (other than a default described in clause (a) or (b) of the preceding sentence) with respect to any Designated Senior Indebtedness of the Company pursuant to which the maturity thereof may be accelerated immediately without further notice (except such notice as may be required to effect such acceleration) or the expiration of any applicable grace periods, the Company may not pay the Securities for a period (a "Payment Blockage Period") commencing upon the receipt by the Trustee (with a copy to the Company) of written notice (a "Blockage Notice") of such default from the Representative of the holders of such Designated Senior Indebtedness specifying an election to effect a Payment Blockage Period and ending 179 days thereafter (or earlier if such Payment Blockage Period is terminated (i) by written notice to the Trustee and the Company from the Person or Persons who gave such Blockage Notice, (ii) because such Designated Senior Indebtedness has been repaid in full in cash or Cash Equivalents or (iii) because the default giving rise to such Blockage Notice is no longer continuing). Notwithstanding the provisions described in the immediately preceding sentence (but subject to the provisions contained in the first sentence of this Section and in Section 10.02(b)), unless the holders of such Designated Senior Indebtedness or the Representative of such holders shall have accelerated the maturity of such Designated Senior Indebtedness, the Company may resume payments on the Securities after the end of such Payment Blockage Period, including any missed payments. Not more than one Blockage Notice may be given in any consecutive 360-day period, irrespective of the number of defaults continuing with respect to Designated Senior Indebtedness during that permits holders of the Designated Senior Indebtedness as to which such period; provided, however, that if default relates to accelerate its maturity and the Trustee receives a notice of such default (a "Payment Blockage Notice") from the Company or the holders of any Blockage Notice within such 360-day period is given by Designated Senior Indebtedness or a representative acting on behalf of such holders. Payments on the Notes may and shall be resumed (a) in the case of a payment default, upon the date on which such default is cured or waived in writing and (b) in case of a nonpayment default, the earlier of the date on which such nonpayment default is cured or waived in writing or 179 days after the date on which the applicable Payment Blockage Notice is received, unless the maturity of any holders of Designated Senior Indebtedness other than has been accelerat- ed. No new period of payment blockage under clause (ii) above may be commenced unless and until 360 days have elapsed since the Bank Indebtedness, the Representative effectiveness of the Bank Indebtedness may give one additional Blockage Notice within such period; provided further, however, that in no event may the total number of days during which any immediately prior Payment Blockage Period or Periods is in effect exceed 179 days in the aggregate during any 360 consecutive day periodNotice. For purposes of this Section 10.03, no default or event of No nonpayment default that existed or was continuing on the date of the commencement delivery of any Payment Blockage Period with respect Notice to the Designated Senior Indebtedness initiating such Payment Blockage Period Trustee shall be, or be made, the basis of the commencement of for a subsequent Payment Blockage Period by the Representative of such Designated Senior Indebtedness, whether or not within a period of 360 consecutive days, Notice unless such default or event of default shall have has been cured or waived for a period of not less than 90 consecutive days.

Default on Designated Senior Indebtedness. The Company may not pay the principal ofprincipal, premium (premium, interest or Liquidated Damages, if any) or interest on , with respect to the Securities Notes or make any deposit pursuant to Section 8.01 the provisions described under Article 8 and may not otherwise repurchase, redeem or otherwise retire any Securities (except that Holders may receive and retain Permitted Junior Securities) Notes (collectively, "pay the SecuritiesNotes"), (except by delivery of Equity Interests of the Company or any Guarantor or Indebtedness of the Company or any Guarantor that is subordinated at least to the same extent as the Notes and the Note Guarantee, as applicable, and has a Weighted Average Life to Maturity at least equal to the remaining Weighted Average Life to Maturity of the Notes) if (ai) a default in the payment when due, whether at maturity, upon any redemption, by acceleration or otherwise of the any principal of, premiuminterest on, if anyunpaid drawings for letters of credit issued in respect of, or interest on any Designated regularly accruing fees with respect to, Senior Indebtedness of the Company occurs and is continuing or any other amount owing in respect of any such Designated Senior Indebtedness is not paid when due, or (b) any other default on such Designated Senior Indebtedness occurs and the maturity of such Designated Senior Indebtedness is accelerated in accordance with its terms unless, in either case, (i) the default has been cured or waived and any such acceleration has been rescinded or (ii) such Designated Senior Indebtedness the Trustee has been paid in full in cash or Cash Equivalents; providedreceived a Blockage Notice (as defined below). However, however, that the Company may and shall pay the Securities Notes without regard to the foregoing if the Company and the Trustee receive written notice approving such payment from the Representative (as defined below) of the holders of such Designated Senior Indebtedness with respect to which either of the events set forth in clause (ai) or (bii) of this the immediately preceding sentence has occurred and is continuing. During the continuance of any default (other than a default described in clause (a) or (bi) of the second preceding sentence) with respect to any Designated Senior Indebtedness of the Company pursuant to which the maturity thereof may be accelerated immediately without further notice (except such notice as may be required to effect such acceleration) or the expiration of any applicable grace periods, the Company may not pay the Securities Notes for a period (a "Payment Blockage Period") commencing upon the receipt by the Trustee (with a copy to the Company) of written notice (a "Blockage Notice") of such default from the Representative of the holders of such Designated Senior Indebtedness specifying an election to effect a Payment Blockage Period and ending 179 days thereafter (or earlier if such Payment Blockage Period is terminated (i) by written notice to the Trustee and the Company from the Person or Persons who gave such Blockage Notice, (ii) because such Designated Senior Indebtedness has been repaid in full in cash or Cash Equivalents or (iii) because the default giving rise to such Blockage Notice is no longer continuingcontinuing or (iii) because such Designated Senior Indebtedness has been repaid in full). Notwithstanding the provisions described in the immediately preceding sentence (but subject to the provisions contained described in the first sentence of this Section and in Section 10.02(b)paragraph), unless a payment default described in clause (i) of the first sentence of the preceding paragraph shall be continuing and the holders of such Designated Senior Indebtedness or the Representative representative of such holders shall (any such representative, a "Representative") have accelerated the maturity of such Designated Senior IndebtednessIndebtedness (and any such acceleration has not been rescinded), the Company may resume payments on the Securities Notes after the end of such Payment Blockage Period, including any missed payments. Not The Notes shall not be subject to more than one Payment Blockage Notice may be given Period in any consecutive 360-day period, irrespective of the number of defaults with respect to Designated Senior Indebtedness during such period; provided, however, that if any Blockage Notice within such 360. No non-day period is given by or on behalf of any holders of Designated Senior Indebtedness other than the Bank Indebtedness, the Representative of the Bank Indebtedness may give one additional Blockage Notice within such period; provided further, however, that in no event may the total number of days during which any Payment Blockage Period or Periods is in effect exceed 179 days in the aggregate during any 360 consecutive day period. For purposes of this Section 10.03, no default or event of payment default that existed or was continuing on the date of the commencement delivery of any Payment Blockage Period with respect Notice to the Designated Senior Indebtedness initiating such Payment Blockage Period Trustee shall be, or be made, the basis of the commencement of for a subsequent Payment Blockage Period by the Representative of such Designated Senior Indebtedness, whether or not within a period of 360 consecutive days, Notice unless such default or event of default shall have been waived or cured or waived for a period of not less than 90 consecutive daysdays (it being acknowledged that any subsequent action, or any breach of any financial covenants for a period commencing after the date of such payment blockage period that, in either case, would give rise to an event of default pursuant to any provisions under which an event of default previously existed or was continuing shall constitute a new event of default for this purpose). Following the expiration of any period during which the Company is prohibited from making payments on the Notes pursuant to a Blockage Notice, the Company shall be obligated to resume making any and all required payments in respect of the Notes, including any missed payments, unless the maturity of any Designated Senior Indebtedness has been accelerated, and such acceleration remains in full force and effect. The Company shall give prompt written notice to the Trustee of any default in the payment of any Senior Indebtedness or any acceleration under any Senior Indebtedness or under any agreement pursuant to which Senior Indebtedness may have been issued. Failure to give such notice shall not affect the subordination of the Notes to the Senior Indebtedness or the application of the other provisions provided in this Article 11.

Default on Designated Senior Indebtedness. The Company may not pay the principal of, premium (if any) or interest on the Securities or make any deposit pursuant to Section 8.01 and may not otherwise repurchase, redeem or otherwise retire any Securities (except that Holders may receive and retain Permitted Junior Securities) (collectively, "pay the Securities") if (ai) a default in the payment of the principal of, premium, if any, or interest on any Designated Senior Indebtedness of the Company occurs and is continuing or any other amount owing in respect of any such Designated Senior Indebtedness is not paid when due, due or (bii) any other default on such Designated Senior Indebtedness occurs and the maturity of such Designated Senior Indebtedness is accelerated in accordance with its terms unless, in either case, (ix) the default has been cured or waived and any such acceleration has been rescinded or (iiy) such Designated Senior Indebtedness has been paid in full in cash or Cash Equivalentsfull; provided, however, that the Company may pay the Securities without regard to the foregoing if the Company and the Trustee receive written notice approving such payment from the Representative of the holders of such Designated Senior Indebtedness with respect to which either of the events set forth in clause (ai) or (bii) of this sentence has occurred and is continuing. During the continuance of any default (other than a default described in clause (ai) or (bii) of the preceding sentence) with respect to any Designated Senior Indebtedness of the Company pursuant to which the maturity thereof may be accelerated immediately without further notice (except such notice as may be required to effect such acceleration) or the expiration of any applicable grace periods, the Company may not pay the Securities for a period (a "Payment Blockage Period") commencing upon the receipt by the Trustee (with a copy to the Company) of written notice (a "Blockage Notice") of such default from the Representative of the holders of such Designated Senior Indebtedness specifying an election to effect a Payment Blockage Period and ending 179 days thereafter (or earlier if such Payment Blockage Period is terminated (i) by written notice to the Trustee and the Company from the Person or Persons who gave such Blockage Notice, (ii) because such Designated Senior Indebtedness has been repaid in full in cash or Cash Equivalents or (iii) because the default giving rise to such Blockage Notice is no longer continuing)continuing or (iii) because such Designated Senior Indebtedness has been repaid in full. Notwithstanding the provisions described in the immediately preceding sentence (but subject to the provisions contained in the first sentence of this Section and in Section 10.02(b)Section), unless the holders of such Designated Senior Indebtedness or the Representative of such holders shall have accelerated the maturity of such Designated Senior Indebtedness, the Company may shall resume payments on the Securities after the end of such Payment Blockage Period, including any missed payments. Not more than one Blockage Notice may be given in any consecutive 360-day period, irrespective of the number of defaults with respect to Designated Senior Indebtedness during such period; provided, however, that if any Blockage Notice within such 360-day period is given by or on behalf of any holders of Designated Senior Indebtedness (other than the Bank Indebtednesslenders under any Credit Agreement), the Representative of the Bank Indebtedness lenders under any Credit Agreement may give one additional another Blockage Notice within such period; provided further, however, that in no event may the total number of days during which any Payment Blockage Period or Periods is in effect exceed 179 days in the aggregate during any 360 consecutive day period. For purposes of this Section 10.03Section, no default or event of default that which existed or was continuing on the date of the commencement of any Payment Blockage Period with respect to the Designated Senior Indebtedness initiating such Payment Blockage Period shall be, or be made, the basis of the commencement of a subsequent Payment Blockage Period by the Representative of such Designated Senior Indebtedness, whether or not within a period of 360 consecutive days, unless such default or event of default shall have been cured or waived for a period of not less than 90 consecutive days.

Default on Designated Senior Indebtedness. The Company may not pay the principal of, premium (if any) or interest on the Securities or make any deposit pursuant to Section 8.01 and may not otherwise repurchase, redeem or otherwise retire any Securities (except that Holders may receive and retain Permitted Junior Securities) (collectively, "pay the Securities") if (a) No direct or indirect payment by or on behalf of any Guarantor of Senior Subordinated Obligations (other than with the money, securities or proceeds held under any defeasance trust established in accordance with Sections 8.01, 8.02 or 8.03, as long as all of the conditions to deposit into such trust were satisfied at the time of such deposit), whether pursuant to the terms of the Notes or any Note Guarantee or upon acceleration or otherwise shall be made if, at the time of such payment, there exists a default in the payment of all or any portion of the principal of, premium, if any, or interest obligations on any Designated Senior Indebtedness of the Company occurs and is continuing or any other amount owing in respect of any such Designated Senior Indebtedness is default shall not paid when due, or (b) any other default on such Designated Senior Indebtedness occurs and the maturity of such Designated Senior Indebtedness is accelerated in accordance with its terms unless, in either case, (i) the default has have been cured or waived and any such acceleration has been rescinded or (ii) such Designated Senior Indebtedness has been paid in full in cash the benefits of this sentence waived by or Cash Equivalents; provided, however, that the Company may pay the Securities without regard to the foregoing if the Company and the Trustee receive written notice approving such payment from the Representative on behalf of the holders of such Designated Senior Indebtedness with respect to which either Indebtedness. In addition, no payment of the events set forth in clause (a) or (b) of this sentence has occurred and is continuing. During the continuance of any default Senior Subordinated Obligations (other than a default described with the money, securities or proceeds held under any defeasance trust established in clause (a) accordance with Sections 8.01, 8.02 or (b) 8.03, as long as all of the preceding sentenceconditions to deposit into such trust were satisfied at the time of such deposit) with may be made by or on behalf of any Guarantor upon or in respect to any Designated Senior Indebtedness of the Company pursuant to which the maturity thereof may be accelerated immediately without further notice (except such notice as may be required to effect such acceleration) or the expiration of Notes during any applicable grace periods, the Company may not pay the Securities for a period (a "Payment Blockage Period") commencing upon the receipt by the Trustee (with a copy to the Company) of written notice (a "Blockage Notice") of such default from the Representative of the holders of such Designated Senior Indebtedness specifying an election to effect a Payment Blockage Period and ending 179 days thereafter (or earlier if unless, in each case, such Payment Blockage Period is shall be terminated (i) by written notice to the Trustee and from such trustee of, or other representative for, the Company from holders of the Person or Persons who gave such Blockage Notice, (ii) because such Designated Senior Indebtedness has been repaid in respect of which such Payment Blockage Period was commenced or by payment in full in cash or Cash Equivalents or (iii) because the default giving rise to such Blockage Notice is no longer continuing). Notwithstanding the provisions described in the immediately preceding sentence (but subject to the provisions contained in the first sentence of this Section and in Section 10.02(b)), unless the holders cash equivalents of such Designated Senior Indebtedness or the Representative of such holders shall have accelerated the maturity of such (and any other Designated Senior Indebtedness, the Company may resume payments on the Securities after the end Indebtedness with an event of such Payment Blockage Period, including any missed payments. Not more than one Blockage Notice may be given in any consecutive 360-day period, irrespective default then permitting acceleration) or all events of the number of defaults default with respect to all Designated Senior Indebtedness during such period; provided, however, that if any Blockage Notice within such 360-day period is given by or on behalf of any holders of Designated Senior Indebtedness other than the Bank Indebtedness, the Representative of the Bank Indebtedness may give one additional Blockage Notice within such period; provided further, however, that in no event may the total number of days during which any Payment Blockage Period or Periods is in effect exceed 179 days in the aggregate during any 360 consecutive day period. For purposes of this Section 10.03, no default or event of default that existed or was continuing on the date of the commencement of any Payment Blockage Period with respect to the Designated Senior Indebtedness initiating such Payment Blockage Period shall be, or be made, the basis of the commencement of a subsequent Payment Blockage Period by the Representative of such Designated Senior Indebtedness, whether or not within a period of 360 consecutive days, unless such default or event of default shall then outstanding have been cured or waived for a period of not less than 90 consecutive dayswaived).

Default on Designated Senior Indebtedness. The (a) No direct or indirect payment, deposit or distribution of any kind or character, whether in cash, property or securities (including any payment made to the Holders under the terms of Indebtedness subordinated to the Notes), may be made by set-off or otherwise, by or on behalf of the Company may not pay the principal of, premium of Accreted Value of or interest (if any) on, or interest on any other obligation in respect of, the Securities or make any deposit Notes, whether pursuant to Section 8.01 and may not otherwise the terms of the Notes by way of repurchase, redeem redemption, defeasance or otherwise retire any Securities (except that Holders may receive the making of all such payments, deposits and retain Permitted Junior Securities) (distributions being referred to herein, individually and collectively, as to, "pay the SecuritiesPAY THE NOTES") if (a) a default in the payment of the principal of, premium, if any, or interest on any Designated Senior Indebtedness of the Company occurs and is continuing or any other amount owing in respect of any such Designated Senior Indebtedness is not paid when due, whether at maturity, on account of mandatory redemption or (b) any other default on such Designated Senior Indebtedness occurs and the maturity of such Designated Senior Indebtedness is accelerated in accordance with its terms unlessprepayment, in either caseacceleration or otherwise, (i) unless the default has been cured or waived and any such acceleration resulting therefrom has been rescinded or (ii) such Designated Senior Indebtedness has been paid in full in cash or Cash Equivalents; providedfull. However, however, that the Company may pay the Securities Notes without regard to the foregoing if the Company it and the Trustee receive written notice approving such payment from the Representative of the holders of such Designated Senior Indebtedness with respect to which either of the events set forth in clause (a) or (b) of this the immediately preceding sentence has have occurred and is continuing. During the continuance of any default (other than a default described in clause (a) or (b) of the second preceding sentence) with respect to any Designated Senior Indebtedness of the Company pursuant to which the maturity thereof may be accelerated immediately without further notice (except such notice as may be required to effect such acceleration) or upon the expiration of any applicable grace periods, the Company may not pay the Securities Notes for a period (a "Payment Blockage PeriodPAYMENT BLOCKAGE PERIOD") commencing upon the receipt by the Trustee (with a copy to the Company) of written notice (a "Blockage NoticeBLOCKAGE NOTICE") of such default from the Representative of the holders of such Designated Senior Indebtedness specifying an election to effect a Payment Blockage Period and ending 179 days thereafter (or earlier if such Payment Blockage Period is terminated (i) by written notice to the Trustee and the Company from the Person or Persons who gave such Blockage NoticeBlocxxxx Xxxxxx, (iixx) because such Designated Senior Indebtedness has been repaid in full in cash or Cash Equivalents or (iii) because xxxause the default giving rise to such Blockage Notice is no longer continuingcontinuing or (iii) because such Designated Senior Indebtedness has been repaid in full). Notwithstanding the provisions described in the immediately preceding sentence (but subject to the provisions contained described in the first sentence of this Section and in Section 10.02(b)13.03), unless the holders of such Designated Senior Indebtedness or the Representative of such holders shall have accelerated the maturity of such Designated Senior Indebtedness, the Company may resume payments on the Securities Notes after the end of such Payment Blockage Period, including any missed payments. Not The Notes shall not be subject to more than one Payment Blockage Notice may be given Period in any consecutive 360-day period, irrespective of the number of defaults with respect to Designated Senior Indebtedness during such period; provided, however, that if . To the extent any Blockage Notice within such 360-day period is given payment of Senior Indebtedness (whether by or on behalf of the Company, as proceeds of security or enforcement of any holders right of Designated setoff or otherwise) is declared to be fraudulent or preferential, set aside or required to be paid to any receiver, trustee in bankruptcy, liquidating trustee, agent or other similar Person under any bankruptcy, insolvency, receivership, fraudulent conveyance or similar law, then if such payment is recovered by, or paid over to, such receiver, trustee in bankruptcy, liquidating trustee, agent or other similar Person, the Senior Indebtedness or part thereof originally intended to be satisfied shall be deemed to be reinstated and outstanding as if such payment had not occurred. To the extent the obligation to repay any Senior Indebtedness is declared to be fraudulent, invalid, or otherwise set aside under any bankruptcy, insolvency, receivership, fraudulent conveyance or similar law, then the obligation so declared fraudulent, invalid or otherwise set aside (and all other than the Bank Indebtedness, the Representative of the Bank Indebtedness may give one additional Blockage Notice within such period; provided further, however, amounts that in no event may the total number of days during which any Payment Blockage Period or Periods is in effect exceed 179 days in the aggregate during any 360 consecutive day period. For purposes of this Section 10.03, no default or event of default that existed or was continuing on the date of the commencement of any Payment Blockage Period would come due with respect thereto had such obligation not been so affected) shall be deemed to the Designated be reinstated and outstanding as Senior Indebtedness initiating for all purposes hereof as if such Payment Blockage Period shall bedeclaration, invalidity or be made, the basis of the commencement of a subsequent Payment Blockage Period by the Representative of such Designated Senior Indebtedness, whether or setting aside had not within a period of 360 consecutive days, unless such default or event of default shall have been cured or waived for a period of not less than 90 consecutive daysoccurred.

Default on Designated Senior Indebtedness. The Company may not pay During the principal of, premium (if any) or interest on the Securities or make continuance of any deposit pursuant to Section 8.01 and may not otherwise repurchase, redeem or otherwise retire any Securities (except that Holders may receive and retain Permitted Junior Securities) (collectively, "pay the Securities") if (a) a default in the payment of the Designated Senior Indebtedness of the Company or a Subsidiary Guarantor at maturity or pursuant to which the maturity thereof may immediately be accelerated beyond the applicable grace period, no payment or distribution of any assets of the Company or such Subsidiary Guarantor of any kind or character (excluding any payment or distribution provided for by a plan of reorganization giving effect to these subordination provisions of certain permitted equity or securities that are subordinated to the Senior Indebtedness or securities exchanged for Senior Indebtedness pursuant to a plan of reorganization to at least the same extent as the Notes and which have a term which exceeds the term of such Senior Indebtedness and other than payments from trusts previously created pursuant to the provisions described in Article Thirteen) shall be made to the Holders on account of the principal of, premium, if any, or interest (including Additional Interest) on any Designated Senior Indebtedness of the Company occurs and is continuing or any other amount owing in amounts payable with respect of any such Designated Senior Indebtedness is not paid when duethereto, or (b) any the purchase, redemption or other default on acquisition of, the Notes or such Designated Senior Indebtedness occurs Subsidiary Guarantee, respectively, unless and the maturity of until such Designated Senior Indebtedness is accelerated in accordance with its terms unless, in either case, (i) the default has been cured or waived and any such acceleration or has been rescinded ceased to exist or (ii) such Designated Senior Indebtedness has shall have been discharged or paid in full in cash or Cash Equivalents; provided, however, that the Company may pay the Securities without regard to the foregoing if the Company and the Trustee receive written notice approving such payment from the Representative of the holders of such Designated Senior Indebtedness with respect to which either of the events set forth in clause (a) or (b) of this sentence has occurred and is continuingfull. During the continuance of any non-payment default (other than a default described in clause (a) or (b) of the preceding sentence) with respect to any Designated Senior Indebtedness of the Company or a Subsidiary Guarantor pursuant to which the maturity thereof may be accelerated immediately without further (in accordance with its terms a "Non-payment Default") and after receipt by the Trustee from the representatives of holders of such Designated Senior Indebtedness of a written notice of such Non-Payment Default, no payment or distribution of any assets of the Company or such Subsidiary Guarantor, respectively, of any kind or character (except excluding any payment or distribution provided for by a plan of reorganization giving effect to these subordination provisions of certain permitted equity or securities that are subordinated to Senior Indebtedness or securities exchanged for Senior Indebtedness pursuant to a plan of reorganization to at least the same extent as the Notes and which have a term which exceeds the term of such notice as Senior Indebtedness and other than payments from trusts previously created pursuant to the provisions described in Article Thirteen) may be required made by the Company or such Subsidiary Guarantor, respectively, to effect such accelerationthe Holders on account of the principal of, premium, if any, or interest (including Additional Interest) on or any amounts payable with respect to, or the expiration of any applicable grace periodspurchase, redemption or other acquisition of, the Company may not pay Notes or such Subsidiary Guarantee, respectively, for the Securities for a period specified hereinbelow (a the "Payment Blockage Period") commencing ). The Payment Blockage Period will commence upon the receipt of written notice of a Non-payment Default by the Trustee (with a copy to the Company) of written notice (a "Blockage Notice") of such default from the Representative representatives of the holders of such Designated Senior Indebtedness specifying an election to effect a Payment Blockage Period and ending 179 days thereafter (or earlier if such Payment Blockage Period is terminated (i) by written notice to the Trustee and the Company from the Person or Persons who gave such Blockage Notice, (ii) because such Designated Senior Indebtedness has been repaid in full in cash or Cash Equivalents or (iii) because the default giving rise to such Blockage Notice is no longer continuing). Notwithstanding the provisions described in the immediately preceding sentence (but subject to the provisions contained in the first sentence of this Section and in Section 10.02(b)), unless the holders of such Designated Senior Indebtedness or the Representative of such holders shall have accelerated the maturity of such Designated Senior Indebtedness, the Company may resume payments will end on the Securities after the end of such Payment Blockage Period, including any missed payments. Not more than one Blockage Notice may be given in any consecutive 360-day period, irrespective earlier to occur of the number of defaults with respect to Designated Senior Indebtedness during such period; provided, however, that if any Blockage Notice within such 360-day period is given by or on behalf of any holders of Designated Senior Indebtedness other than the Bank Indebtedness, the Representative of the Bank Indebtedness may give one additional Blockage Notice within such period; provided further, however, that in no event may the total number of days during which any Payment Blockage Period or Periods is in effect exceed 179 days in the aggregate during any 360 consecutive day period. For purposes of this Section 10.03, no default or event of default that existed or was continuing on the date of the commencement of any Payment Blockage Period with respect to the Designated Senior Indebtedness initiating such Payment Blockage Period shall be, or be made, the basis of the commencement of a subsequent Payment Blockage Period by the Representative of such Designated Senior Indebtedness, whether or not within a period of 360 consecutive days, unless such default or event of default shall have been cured or waived for a period of not less than 90 consecutive days.following events:

Default on Designated Senior Indebtedness. The Company may not pay During the principal of, premium (if any) or interest on the Securities or make continuance of any deposit pursuant to Section 8.01 and may not otherwise repurchase, redeem or otherwise retire any Securities (except that Holders may receive and retain Permitted Junior Securities) (collectively, "pay the Securities") if (a) a default in the payment of the Designated Senior Indebtedness of the Company or a Subsidiary Guarantor at maturity or pursuant to which the maturity thereof may immediately be accelerated beyond the applicable grace period, no payment or distribution of any assets of the Company or such Subsidiary Guarantor of any kind or character (excluding any payment or distribution provided for by a plan of reorganization giving effect to these subordination provisions of certain permitted equity or securities that are subordinated to the Senior Indebtedness or securities exchanged for Senior Indebtedness pursuant to a plan of reorganization to at least the same extent as the Notes and which have a term which exceeds the term of such Senior Indebtedness and other than payments from trusts previously created pursuant to the provisions described in Article Thirteen) shall be made to the Holders on account of the principal of, premium, if any, or interest (including Additional Interest) on any Designated Senior Indebtedness of the Company occurs and is continuing or any other amount owing in amounts payable with respect of any such Designated Senior Indebtedness is not paid when duethereto, or (b) any the purchase, redemption or other default on acquisition of, the Notes or such Designated Senior Indebtedness occurs Subsidiary Guarantee, respectively, unless and the maturity of until such Designated Senior Indebtedness is accelerated in accordance with its terms unless, in either case, (i) the default has been cured or waived and any such acceleration or has been rescinded ceased to exist or (ii) such Designated Senior Indebtedness has shall have been discharged or paid in full in cash or Cash Equivalents; provided, however, that the Company may pay the Securities without regard to the foregoing if the Company and the Trustee receive written notice approving such payment from the Representative of the holders of such Designated Senior Indebtedness with respect to which either of the events set forth in clause (a) or (b) of this sentence has occurred and is continuingfull. During the continuance of any non-payment default (other than a default described in clause (a) or (b) of the preceding sentence) with respect to any Designated Senior Indebtedness of the Company or a Subsidiary Guarantor pursuant to which the maturity thereof may be accelerated immediately without further notice (except such notice as may be required to effect such acceleration) or the expiration of any applicable grace periods, the Company may not pay the Securities for a period in accordance with its terms (a "Payment Blockage Period"“Non-payment Default”) commencing upon the and after receipt by the Trustee from the representatives of holders of such Designated Senior Indebtedness of a written notice of such Non-Payment Default, no payment or distribution of any assets of the Company or such Subsidiary Guarantor, respectively, of any kind or character (with excluding any payment or distribution provided for by a copy plan of reorganization giving effect to these subordination provisions of certain permitted equity or securities that are subordinated to Senior Indebtedness or securities exchanged for Senior Indebtedness pursuant to a plan of reorganization to at least the same extent as the Notes and which have a term which exceeds the term of such Senior Indebtedness and other than payments from trusts previously created pursuant to the Companyprovisions described in Article Thirteen) may be made by the Company or such Subsidiary Guarantor, respectively, to the Holders on account of the principal of, premium, if any, or interest (including Additional Interest) on or any amounts payable with respect to, or the purchase, redemption or other acquisition of, the Notes or such Subsidiary Guarantee, respectively, for the period specified hereinbelow (the “Payment Blockage Period”). The Payment Blockage Period will commence upon the receipt of written notice (of a "Blockage Notice") of such default Non-payment Default by the Trustee from the Representative representatives of the holders of such Designated Senior Indebtedness specifying an election to effect a Payment Blockage Period and ending 179 days thereafter (or earlier if such Payment Blockage Period is terminated (i) by written notice to the Trustee and the Company from the Person or Persons who gave such Blockage Notice, (ii) because such Designated Senior Indebtedness has been repaid in full in cash or Cash Equivalents or (iii) because the default giving rise to such Blockage Notice is no longer continuing). Notwithstanding the provisions described in the immediately preceding sentence (but subject to the provisions contained in the first sentence of this Section and in Section 10.02(b)), unless the holders of such Designated Senior Indebtedness or the Representative of such holders shall have accelerated the maturity of such Designated Senior Indebtedness, the Company may resume payments will end on the Securities after the end of such Payment Blockage Period, including any missed payments. Not more than one Blockage Notice may be given in any consecutive 360-day period, irrespective earlier to occur of the number of defaults with respect to Designated Senior Indebtedness during such period; provided, however, that if any Blockage Notice within such 360-day period is given by or on behalf of any holders of Designated Senior Indebtedness other than the Bank Indebtedness, the Representative of the Bank Indebtedness may give one additional Blockage Notice within such period; provided further, however, that in no event may the total number of days during which any Payment Blockage Period or Periods is in effect exceed 179 days in the aggregate during any 360 consecutive day period. For purposes of this Section 10.03, no default or event of default that existed or was continuing on the date of the commencement of any Payment Blockage Period with respect to the Designated Senior Indebtedness initiating such Payment Blockage Period shall be, or be made, the basis of the commencement of a subsequent Payment Blockage Period by the Representative of such Designated Senior Indebtedness, whether or not within a period of 360 consecutive days, unless such default or event of default shall have been cured or waived for a period of not less than 90 consecutive days.following events:

Default on Designated Senior Indebtedness. The Company may not pay the principal of, premium (if any) or interest on the Securities or make any deposit pursuant to Section 8.01 and may not otherwise repurchase, redeem or otherwise retire or defease any Securities (except that Holders may receive and retain Permitted Junior Securities) or other Obligations (collectively, "“pay the Securities"”) if (ai) a default in the payment of the principal of, premium, if any, or interest on any Designated Senior Indebtedness of the Company occurs and is continuing or any other amount owing in respect of any such Designated Senior Indebtedness is not paid when due, due or (bii) any other default on such Designated Senior Indebtedness of the Company occurs and the maturity of such Designated Senior Indebtedness is accelerated in accordance with its terms unless, in either case, (ix) the default has been cured or waived and any such acceleration has been rescinded or (iiy) such Designated Senior Indebtedness has been paid in full in cash or Cash Equivalents; providedfull. However, however, that the Company may pay the Securities without regard to the foregoing if the Company and the Trustee receive written notice approving such payment from the Representative of the holders of such applicable Designated Senior Indebtedness with respect to which either of the events set forth in clause (ai) or (bii) of this the immediately preceding sentence has occurred and is continuing. During the continuance of any default (other than a default described in clause (ai) or (bii) of the second immediately preceding sentence) with respect to any Designated Senior Indebtedness of the Company pursuant to which the maturity thereof may be accelerated immediately without further notice (except such notice as may be required to effect such acceleration) or the expiration of any applicable grace periods, the Company may not pay the Securities for a period (a "“Payment Blockage Period"”) commencing upon the receipt by the Trustee (with a copy to the Company) of written notice (a "“Blockage Notice"”) of such default from the Representative of the holders of such Designated Senior Indebtedness specifying an election to effect a Payment Blockage Period and ending 179 days thereafter (or earlier if such Payment Blockage Period is terminated (i) by written notice to the Trustee and the Company from the Person or Persons who gave such Blockage Notice, (ii) because such Designated Senior Indebtedness has been repaid in full in cash or Cash Equivalents or (iii) because the default giving rise to such Blockage Notice is no longer continuingcontinuing or (iii) because such Designated Senior Indebtedness has been repaid in full in cash). Notwithstanding the provisions described in the immediately preceding sentence (but subject to the provisions contained in the first sentence of this Section and in Section 10.02(b)10.03), unless the holders of such Designated Senior Indebtedness giving such Blockage Notice or the Representative of such holders shall have accelerated the maturity of such Designated Senior Indebtedness, the Company may shall resume payments on the Securities after the end of such Payment Blockage Period, including any missed payments. Not The Securities shall not be subject to more than one Payment Blockage Notice may be given Period in any period of 360 consecutive 360-day perioddays, irrespective of the number of defaults with respect to Designated Senior Indebtedness of the Company during such period; provided, however, that if any Blockage Notice within such 360-day period is given by or on behalf of any holders of Designated Senior Indebtedness other than the Bank Indebtedness, the Representative of the Bank Indebtedness may give one additional Blockage Notice within such period; provided further, however, that in no event may the total number of days during which any Payment Blockage Period or Periods is in effect exceed 179 days in the aggregate during any 360 consecutive day period. For purposes of this Section 10.03Section, no default or event of default that which existed or was continuing on the date of the commencement of any Payment Blockage Period with respect to the Designated Senior Indebtedness initiating such Payment Blockage Period shall be, or be made, the basis of the commencement of a subsequent Payment Blockage Period by the Representative of such Designated Senior Indebtedness, whether or not within a period of 360 consecutive days, unless such default or event of default shall have been cured or waived for a period of not less than 90 consecutive days.

Default on Designated Senior Indebtedness. The Company may not pay the principal of, premium (if any) or interest on on, the Securities Notes or make any deposit pursuant to Section 8.01 the provisions described under "Defeasance" below and may not otherwise repurchase, redeem or otherwise retire any Securities (except that Holders may receive and retain Permitted Junior Securities) Notes (collectively, "pay the SecuritiesNotes") if (ai) a default in the payment of the principal of, premium, if any, or interest on any Designated Senior Indebtedness of the Company occurs and is continuing or any other amount owing in respect of any such Designated Senior Indebtedness is not paid when due, due or (bii) any other default on such Designated Senior Indebtedness occurs and the maturity of such Designated Senior Indebtedness is accelerated in accordance with its terms unless, in either case, (i) the default has been cured or waived and any such acceleration has been rescinded or (ii) such Designated Senior Indebtedness has been paid in full in cash or Cash Equivalents; providedfull. However, however, that the Company may and shall pay the Securities Notes without regard to the foregoing if the Company and the Trustee receive written notice approving such payment from the Representative of the holders of such Designated Senior Indebtedness with respect to which either of the events set forth in clause (ai) or (bii) of this the immediately preceding sentence has occurred and is continuing. During the continuance of any default (other than a default described in clause (ai) or (bii) of the second preceding sentence) with respect to any Designated Senior Indebtedness of the Company pursuant to which the maturity thereof may be accelerated immediately without further notice (except such notice as may be required to effect such acceleration) or the expiration of any applicable grace periods, the Company may not pay the Securities Notes for a period (a "Payment Blockage Period") commencing upon the receipt by the Trustee (with a copy to the Company) of written notice (a "Blockage Notice") of such default from the Representative of the holders of such Designated Senior Indebtedness specifying an election to effect a Payment Blockage Period and ending 179 days thereafter (or earlier if such Payment Blockage Period is terminated (i) by written notice to the Trustee and the Company from the Person or Persons who gave such Blockage Notice, (ii) because such Designated Senior Indebtedness has been repaid in full in cash or Cash Equivalents or (iii) because the default giving rise to such Blockage Notice is no longer continuingcontinuing or (iii) because such Designated Senior Indebtedness has been repaid in full). Notwithstanding the provisions described in the immediately preceding sentence (but subject to the provisions contained described in the first sentence of this Section and in Section 10.02(b)paragraph), unless the holders of such Designated Senior Indebtedness or the Representative of such holders shall have accelerated the maturity of such Designated Senior Indebtedness, the Company may resume payments on the Securities Notes after the end of such Payment Blockage Period, including any missed payments. Not The Notes shall not be subject to more than one Payment Blockage Notice may be given Period in any consecutive 360-day period, irrespective of the number of defaults with respect to Designated Senior Indebtedness during such period; provided, however, that if any Blockage Notice within such 360-day period is given by or on behalf of any holders of Designated Senior Indebtedness other than the Bank Indebtedness, the Representative of the Bank Indebtedness may give one additional Blockage Notice within such period; provided further, however, that in no event may the total number of days during which any Payment Blockage Period or Periods is in effect exceed 179 days in the aggregate during any 360 consecutive day period. For purposes of this Section 10.03, no default or event of No nonpayment default that existed or was continuing on the date of the commencement delivery of any Payment Blockage Period with respect Notice to the Designated Senior Indebtedness initiating such Payment Blockage Period Trustee shall be, or be made, the basis of the commencement of for a subsequent Payment Blockage Period by the Representative of such Designated Senior Indebtedness, whether or not within a period of 360 consecutive days, Notice unless such default or event of default shall have been cured or waived for a period of not less than 90 consecutive days. Following the expiration of any period during which the Company is prohibited from making payments on the Notes pursuant to a Payment Blockage Notice, the Company will be obligated to resume making any and all required payments in respect of the Notes, including any missed payments, unless the maturity of any Designated Senior Indebtedness has been accelerated, and such acceleration remains in full force and effect. The Company shall give prompt written notice to the Trustee of any default in the payment of any Senior Indebtedness or any acceleration under any Senior Indebtedness or under any agreement pursuant to which Senior Indebtedness may have been issued. Failure to give such notice shall not affect the subordination of the Notes to the Senior Indebtedness or the application of the other provisions provided in this Article 11.

Default on Designated Senior Indebtedness. The Company may ----------------------------------------- not pay the principal of, or premium (if any) or interest on on, the Securities Notes or make any deposit pursuant to Section 8.01 the provisions of Article 12 and may not otherwise repurchasepurchase, ---------- redeem or otherwise retire any Securities (except that Holders may receive and retain Permitted Junior Securities) Notes (collectively, "pay the SecuritiesNotes") if (ai) a default in the payment of the principal of, premium, if any, or interest on any Designated Senior Indebtedness of the Company occurs and is continuing or any other amount owing in respect of any such ------------- - Designated Senior Indebtedness is not paid when due, due in cash or Cash Equivalents or (bii) any other default on such Designated Senior Indebtedness occurs and the -- maturity of such Designated Senior Indebtedness is accelerated in accordance with its terms (either such event, a "Payment Default") unless, in either case, --------------- (ix) the default Payment Default has been cured or waived and any such acceleration has - been rescinded in writing or (iiy) such Designated Senior Indebtedness has been - paid in full in cash or Cash Equivalents; provided, however, provided that the Company may pay the Securities -------- Notes without regard to the foregoing if the Company and the Trustee receive written notice approving such payment from the Representative of for the holders of such Designated Senior Indebtedness with respect to which either of the events set forth in clause (a) or (b) of this sentence Payment Default has occurred and is continuing. During In addition, during the continuance of any default (other than a default described in clause (a) or (b) of the preceding sentencePayment Default) with respect to any Designated Senior Indebtedness of the Company pursuant to which the maturity thereof may be accelerated immediately without further notice (except such notice as may be required to effect such acceleration) or the expiration of any applicable grace periodsperiod (a "Non-payment Default"), the Company ------------------- may not pay the Securities Notes for a the period specified as follows (a "Payment Blockage ---------------- Period") commencing ). The Payment Blockage Period shall commence upon the receipt by the ------ Trustee (with a copy to the Company) of written notice (a "Blockage Notice") of --------------- such default Non-payment Default from the Representative of the holders of for such Designated Senior Indebtedness specifying an election to effect a Payment Blockage Period and ending shall end on the earliest to occur of the following events: (i) 179 days thereafter shall - have elapsed since such receipt of such Blockage Notice, (ii) the Non-payment -- Default giving rise to such Blockage Notice is no longer continuing (and no other Payment Default or earlier if Non-payment Default is then continuing), (iii) such --- Designated Senior Indebtedness shall have been discharged or repaid in full in cash or Cash Equivalents or (iv) such Payment Blockage Period is shall have been -- terminated (i) by written notice to the Trustee and the Company from the Person or Persons who gave such Blockage Notice. The Company shall promptly resume payments on the Notes, (ii) because including any missed payments, after such Designated Senior Indebtedness has been repaid in full in cash or Cash Equivalents or (iii) because the default giving rise to such Payment Blockage Notice is no longer continuing). Notwithstanding the provisions described in the immediately preceding sentence (but subject to the provisions contained in the first sentence of this Section and in Section 10.02(b))Period ends, unless the holders of such Designated Senior Indebtedness or the Representative of such holders shall have accelerated the maturity of such Designated Senior Indebtedness, the Company may resume payments on the Securities after the end of such or any Payment Blockage Period, including any missed paymentsDefault otherwise exists. Not more than one Blockage Notice may be given in any 360 consecutive 360-day period, irrespective of the number of defaults with respect to Designated Senior Indebtedness during such period; provided, however, that if any Blockage Notice within such 360-day period is given by or on behalf of any holders of Designated Senior Indebtedness other than the Bank Indebtedness, the Representative of the Bank Indebtedness may give one additional Blockage Notice within such period; provided further, however, that in no event may the total number of days during which any Payment Blockage Period or Periods is in effect exceed 179 days in the aggregate during any 360 consecutive day period. For purposes of this Section 10.03, no default or event of default that existed or was continuing on the date of the commencement of any Payment Blockage Period with respect to the Designated Senior Indebtedness initiating such Payment Blockage Period shall be, or be made, the basis of the commencement of a subsequent Payment Blockage Period by the Representative of such Designated Senior Indebtedness, whether or not within a period of 360 consecutive days, unless such default or event of default shall have been cured or waived for a period of not less than 90 consecutive days.

Default on Designated Senior Indebtedness. The Company (a) No direct or indirect payment, deposit or distribution of any kind or character, whether in cash, property or securities (including any payment made to the Holders under the terms of Indebtedness subordinated to the Notes), may not pay the be made by set-off or otherwise, by or on behalf of an Issuer or Subsidiary Guarantor of principal of, premium (if any) or interest on on, or any other obligation in respect of, the Securities Notes or make any deposit the Subsidiary Guarantees, whether pursuant to Section 8.01 and may not otherwise the terms of the Notes or upon acceleration, by way of repurchase, redeem redemption, defeasance or otherwise retire any Securities (except that Holders may receive the making of all such payments, deposits and retain Permitted Junior Securities) (distributions being referred to herein, individually and collectively, as to, "pay Pay the SecuritiesNotes") if (a) a default in the payment of the principal of, premium, if any, or interest on any Designated Senior Indebtedness of the Company occurs and is continuing such Issuer or any other amount owing in respect of any such Designated Senior Indebtedness Subsidiary Guarantor is not paid when due, whether at maturity, on account of mandatory redemption or (b) any other default on such Designated Senior Indebtedness occurs and the maturity of such Designated Senior Indebtedness is accelerated in accordance with its terms unlessprepayment, in either caseacceleration or otherwise, (i) unless the default has been cured or waived and any such acceleration resulting therefrom has been rescinded or (ii) such Designated Senior Indebtedness has been paid in full in cash full. However, such Issuer or Cash Equivalents; provided, however, that the Company Subsidiary Guarantor may pay the Securities Notes without regard to the foregoing if the Company it and the Trustee receive written notice approving such payment from the Representative of the holders of such Designated Senior Indebtedness with respect to which either of the events set forth in clause (a) or (b) of this the immediately preceding sentence has have occurred and is continuing. During the continuance of any default Default (other than a default Default described in clause (a) or (b) of the second preceding sentence) with respect to any Designated Senior Indebtedness of the Company an Issuer or Subsidiary Guarantor pursuant to which the maturity thereof may be accelerated immediately without further notice (except such notice as may be required to effect such acceleration) or upon the expiration of any applicable grace periods, the Company such Issuer or Subsidiary Guarantor may not pay the Securities Notes for a period (a "Payment Blockage Period") commencing upon the receipt by the Trustee (with a copy to the Companysuch Issuer) of written notice (a "Blockage Notice") of such default from the Representative of the holders of such Designated Senior Indebtedness specifying an election to effect a Payment Blockage Period and ending 179 days thereafter (or earlier if such Payment Blockage Period is terminated (i) by written notice to the Trustee and the Company such Issuer from the Person or Persons who gave such Blockage Notice, (ii) because such Designated Senior Indebtedness has been repaid in full in cash or Cash Equivalents or (iii) because the default giving rise to such Blockage Notice is no longer continuingcontinuing or (iii) because such Designated Senior Indebtedness has been repaid in full). Notwithstanding the provisions described in the immediately preceding sentence (but subject to the provisions contained described in the first sentence of this Section and in Section 10.02(b)14.03), unless the holders of such Designated Senior Indebtedness or the Representative of such holders shall have accelerated the maturity of such Designated Senior Indebtedness, the Company such Issuer or Subsidiary Guarantor may resume payments on the Securities Notes after the end of such Payment Blockage Period, including any missed payments. Not The Notes shall not be subject to more than one Payment Blockage Notice may be given Period in any consecutive 360-day period, irrespective of the number of defaults with respect to Designated Senior Indebtedness during such period; provided, however, that if . To the extent any Blockage Notice within such 360-day period is given payment of Senior Indebtedness (whether by or on behalf of the Issuers or the Subsidiary Guarantors, as proceeds of security or enforcement of any holders right of Designated setoff or otherwise) is declared to be fraudulent or preferential, set aside or required to be paid to any receiver, trustee in bankruptcy, liquidating trustee, agent or other similar Person under any bankruptcy, insolvency, receivership, fraudulent conveyance or similar law, then if such payment is recovered by, or paid over to, such receiver, trustee in bankruptcy, liquidating trustee, agent or other similar Person, the Senior Indebtedness or part thereof originally intended to be satisfied shall be deemed to be reinstated and outstanding as if such payment had not occurred. To the extent the obligation to repay any Senior Indebtedness is declared to be fraudulent, invalid, or otherwise set aside under any bankruptcy, insolvency, receivership, fraudulent conveyance or similar law, then the obligation so declared fraudulent, invalid or otherwise set aside (and all other than the Bank Indebtedness, the Representative of the Bank Indebtedness may give one additional Blockage Notice within such period; provided further, however, amounts that in no event may the total number of days during which any Payment Blockage Period or Periods is in effect exceed 179 days in the aggregate during any 360 consecutive day period. For purposes of this Section 10.03, no default or event of default that existed or was continuing on the date of the commencement of any Payment Blockage Period would come due with respect thereto had such obligation not been so affected) shall be deemed to the Designated be reinstated and outstanding as Senior Indebtedness initiating for all purposes hereof as if such Payment Blockage Period shall bedeclaration, invalidity or be made, the basis of the commencement of a subsequent Payment Blockage Period by the Representative of such Designated Senior Indebtedness, whether or setting aside had not within a period of 360 consecutive days, unless such default or event of default shall have been cured or waived for a period of not less than 90 consecutive daysoccurred.

Default on Designated Senior Indebtedness. The Company may not pay the principal of, premium (if any) or interest on the Securities or make any deposit pursuant to Section 8.01 and may not otherwise repurchase, redeem or otherwise retire any Securities (except that Holders may receive and retain Permitted Junior Securities) (collectively, "pay the Securities") if (a) a default in the payment of the any principal of, premiuminterest on, if unpaid drawings for letters of credit in respect of, or regularly accruing fees with respect to any, or interest on any Designated Senior Indebtedness of the Company occurs and is continuing or any other amount owing in respect of any such Designated Senior Indebtedness is not paid when due, due or (b) any other default on such Designated Senior Indebtedness occurs and the maturity of such Designated Senior Indebtedness is accelerated in accordance with its terms unless, in either case, (i) the default has been cured or waived and any such acceleration has been rescinded or (ii) such amounts due under Designated Senior Indebtedness has have been paid in full in cash or Cash Equivalentsfull; provided, however, that the Company may pay the Securities without regard to the foregoing if the Company and a Trust Officer of the Trustee receive written notice approving such payment from the Representative of the holders of such Designated Senior Indebtedness with respect to which either of the events set forth in clause (a) or (b) of this sentence has occurred and is continuing. During the continuance of any default (other than a default described in clause (a) or (b) of the preceding sentence) with respect to any Designated Senior Indebtedness of the Company pursuant to which the maturity thereof may be accelerated immediately without further notice (except such notice as may be required to effect such acceleration) or the expiration of any applicable grace periods, the Company may not pay the Securities for a period (a "Payment Blockage Period") commencing upon the receipt by a Trust Officer of the Trustee (with a copy to the Company) of written notice specified as a "notice of default" and describing with particularity the default under such Designated Senior Indebtedness (a "Blockage Notice") of such default from the Representative of the holders of such Designated Senior Indebtedness specifying an election to effect a Payment Blockage Period and ending 179 days thereafter (or earlier if such Payment Blockage Period is terminated (ia) by written notice to the Trustee and the Company from the Person or Persons who gave such Blockage Notice, (iib) because by repayment in full of such Designated Senior Indebtedness has been repaid in full in cash or Cash Equivalents or (iiic) because the default giving rise to such Blockage Notice is no longer continuing). Notwithstanding the provisions described in the immediately preceding sentence (but subject to the provisions contained in the first sentence of this Section and in Section 10.02(b)Section), unless the holders of such Designated Senior Indebtedness or the Representative of such holders shall have accelerated the maturity of such Designated Senior Indebtedness, the Company may resume payments on the Securities after the end of such Payment Blockage Period, including any missed payments. Not more than one Blockage Notice may be given in any consecutive 360-day period, irrespective of the number of defaults with respect to Designated Senior Indebtedness during such period; provided, however, that if any Blockage Notice within such 360-day period is given by or on behalf of any holders of Designated Senior Indebtedness other than the Bank Indebtedness, the Representative of the Bank Indebtedness may give one additional another Blockage Notice within such period; provided further, however, that in no event may the total number of days during which any Payment Blockage Period or Periods is in effect exceed 179 days in the aggregate during any 360 consecutive day period. For purposes of this Section 10.03Section, no default or event of default that existed or was continuing on the date of the commencement of any Payment Blockage Period with respect to the Designated Senior Indebtedness initiating such Payment Blockage Period shall be, or be made, the basis of the commencement of a subsequent Payment Blockage Period by the Representative of such Designated Senior Indebtedness, whether or not within a period of 360 consecutive days, unless such default or event of default shall have been cured or waived for a period of not less than 90 consecutive days.

Default on Designated Senior Indebtedness. The Company may not pay the principal of, or premium (if any) or interest on on, the Securities Notes or make any deposit pursuant to Section 8.01 the provisions of Article 12 and may not otherwise repurchasepurchase, redeem or otherwise retire any Securities (except that Holders may receive and retain Permitted Junior Securities) Notes (collectively, "pay the SecuritiesNotes") if (ai) a default in the payment of the principal of, premium, if any, or interest on any Designated Senior Indebtedness of the Company occurs and is continuing or any other amount owing in respect of any such Designated Senior Indebtedness is not paid when due, due in cash or Cash Equivalents or (bii) any other default on such Designated Senior Indebtedness occurs and the maturity of such Designated Senior Indebtedness is accelerated in accordance with its terms (either such event, a "Payment Default") unless, in either case, (ix) the default Payment Default has been cured or waived and any such acceleration has been rescinded in writing or (iiy) such Designated Senior Indebtedness has been paid in full in cash or Cash Equivalents; provided, however, provided that the Company may pay the Securities Notes without regard to the foregoing if the Company and the Trustee receive written notice approving such payment from the Representative of for the holders of such Designated Senior Indebtedness with respect to which either of the events set forth in clause (a) or (b) of this sentence Payment Default has occurred and is continuing. During In addition, during the continuance of any default (other than a default described in clause (a) or (b) of the preceding sentencePayment Default) with respect to any Designated Senior Indebtedness of the Company pursuant to which the maturity thereof may be accelerated immediately without further notice (except such notice as may be required to effect such acceleration) or the expiration of any applicable grace periodsperiod (a "Non-payment Default"), the Company may not pay the Securities Notes for a the period specified as follows (a "Payment Blockage Period") commencing ). The Payment Blockage Period shall commence upon the receipt by the Trustee (with a copy to the Company) of written notice (a "Blockage Notice") of such default Non-payment Default from the Representative of the holders of for such Designated Senior Indebtedness specifying an election to effect a Payment Blockage Period and ending shall end on the earliest to occur of the following events: (i) 179 days thereafter shall have elapsed since such receipt of such Blockage Notice, (ii) the Non-payment Default giving rise to such Blockage Notice is no longer continuing (and no other Payment 125 Default or earlier if Non-payment Default is then continuing), (iii) such Designated Senior Indebtedness shall have been discharged or repaid in full in cash or Cash Equivalents or (iv) such Payment Blockage Period is shall have been terminated (i) by written notice to the Trustee and the Company from the Person or Persons who gave such Blockage Notice. The Company shall promptly resume payments on the Notes, (ii) because including any missed payments, after such Designated Senior Indebtedness has been repaid in full in cash or Cash Equivalents or (iii) because the default giving rise to such Payment Blockage Notice is no longer continuing). Notwithstanding the provisions described in the immediately preceding sentence (but subject to the provisions contained in the first sentence of this Section and in Section 10.02(b))Period ends, unless the holders of such Designated Senior Indebtedness or the Representative of such holders shall have accelerated the maturity of such Designated Senior Indebtedness, the Company may resume payments on the Securities after the end of such or any Payment Blockage Period, including any missed paymentsDefault otherwise exists. Not more than one Blockage Notice may be given in any 360 consecutive 360-day period, irrespective of the number of defaults with respect to Designated Senior Indebtedness during such period; provided, however, that if any Blockage Notice within such 360-day period is given by or on behalf of any holders of Designated Senior Indebtedness other than the Bank Indebtedness, the Representative of the Bank Indebtedness may give one additional Blockage Notice within such period; provided further, however, that in no event may the total number of days during which any Payment Blockage Period or Periods is in effect exceed 179 days in the aggregate during any 360 consecutive day period. For purposes of this Section 10.03, no default or event of default that existed or was continuing on the date of the commencement of any Payment Blockage Period with respect to the Designated Senior Indebtedness initiating such Payment Blockage Period shall be, or be made, the basis of the commencement of a subsequent Payment Blockage Period by the Representative of such Designated Senior Indebtedness, whether or not within a period of 360 consecutive days, unless such default or event of default shall have been cured or waived for a period of not less than 90 consecutive days.

Default on Designated Senior Indebtedness. The Company may not pay the principal of, premium (if any) or interest on the Securities or make any deposit pursuant to Section 8.01 and may not otherwise repurchase, redeem or otherwise retire any Securities (except that Holders may receive and retain Permitted Junior Securities) (collectively, "pay the Securities") if (a) No direct or indirect payment by or on behalf of the Company of Senior Subordinated Obligations (other than with the money, securities or proceeds held under any defeasance trust established in accordance with Sections 8.01, 8.02 or 8.03, as long as all of the conditions to deposit into such trust were satisfied at the time of such deposit), whether pursuant to the terms of the Notes or upon acceleration or otherwise shall be made if, at the time of such payment, there exists a default in the payment of all or any portion of the principal of, premium, if any, or interest obligations on any Designated Senior Indebtedness of the Company occurs and is continuing or any other amount owing in respect of any such Designated Senior Indebtedness is default shall not paid when due, or (b) any other default on such Designated Senior Indebtedness occurs and the maturity of such Designated Senior Indebtedness is accelerated in accordance with its terms unless, in either case, (i) the default has have been cured or waived and any such acceleration has been rescinded or (ii) such Designated Senior Indebtedness has been paid in full in cash the benefits of this sentence waived by or Cash Equivalents; provided, however, that the Company may pay the Securities without regard to the foregoing if the Company and the Trustee receive written notice approving such payment from the Representative on behalf of the holders of such Designated Senior Indebtedness with respect to which either of the events set forth in clause (a) or (b) of this sentence has occurred and is continuingIndebtedness. During In addition, during the continuance of any other event of default (other than a default described in clause (a) or (b) of the preceding sentence) with respect to any Designated Senior Indebtedness of the Company pursuant to which the maturity thereof may be accelerated immediately without further accelerated, upon receipt by the Trustee of written notice from the trustee or other representative for the holders of such Designated Senior Indebtedness (except or the holders of at least a majority in principal amount of such notice Designated Senior Indebtedness then outstanding), no payment of Senior Subordinated Obligations (other than with the money, securities or proceeds held under any defeasance trust established in accordance with Sections 8.01, 8.02 or 8.03, as long as all of the conditions to deposit into such trust were satisfied at the time of such deposit) may be required to effect such acceleration) made by or the expiration on behalf of any applicable grace periods, the Company may not pay upon or in respect of the Securities Notes for a period (a "Payment Blockage Period") commencing upon on the date of receipt by the Trustee (with a copy to the Company) of written notice (a "Blockage Notice") of such default from the Representative of the holders of such Designated Senior Indebtedness specifying an election to effect a Payment Blockage Period notice and ending 179 days thereafter (or earlier if unless, in each case, such Payment Blockage Period is shall be terminated (i) by written notice to the Trustee and the Company from the Person such trustee of, or Persons who gave other representative for, such Blockage Notice, (ii) because such Designated Senior Indebtedness has been repaid holders or by payment in full in cash or Cash Equivalents or (iii) because the default giving rise to such Blockage Notice is no longer continuing). Notwithstanding the provisions described in the immediately preceding sentence (but subject to the provisions contained in the first sentence of this Section and in Section 10.02(b)), unless the holders cash equivalents of such Designated Senior Indebtedness or the Representative of such holders shall have accelerated the maturity of such (and any other Designated Senior Indebtedness, the Company may resume payments on the Securities after the end Indebtedness with an event of such Payment Blockage Period, including any missed paymentsdefault then permitting acceleration) or all events of default with respect to all Designated Senior Indebtedness then outstanding have been cured or waived). Not more than one Payment Blockage Notice Period may be given in any consecutive 360-day period, irrespective of the number of defaults commenced with respect to Designated Senior Indebtedness the Notes during such period; providedany period of 360 consecutive days. Notwithstanding anything in the Indenture to the contrary, however, that if there must be 180 consecutive days in any Blockage Notice within such 360-day period is given by or on behalf of any holders of Designated Senior Indebtedness other than the Bank Indebtedness, the Representative of the Bank Indebtedness may give one additional Blockage Notice within such period; provided further, however, that in which no event may the total number of days during which any Payment Blockage Period or Periods is in effect exceed 179 days in the aggregate during any 360 consecutive day periodeffect. For purposes of this Section 10.03, no default or No event of default that existed or was continuing (it being acknowledged that any subsequent action or any breach of any financial covenants for a period commencing after the date of delivery of such initial payment blockage notice that would, in either case, give rise to an event of default pursuant to any provision under which an event of default previously existed or was continuing shall constitute a new event of default for this purpose) on the date of the commencement of any Payment Blockage Period with respect to the Designated Senior Indebtedness initiating such Payment Blockage Period shall be, or shall be made, the basis of for the commencement of a subsequent second Payment Blockage Period by the Representative of representative for, or the holders of, such Designated Senior Indebtedness, whether or not within a period of 360 consecutive days, unless such default or event of default shall have been cured or waived for a period of not less than 90 consecutive days.

Default on Designated Senior Indebtedness. (a) The Company may not pay the principal of, premium (if any) or interest on, the Notes or any other payment on or relating to the Securities Notes or under this Indenture, or make any deposit pursuant to Section 8.01 and may not otherwise repurchasepurchase, redeem or otherwise retire any Securities Notes (except that Holders may receive and retain (a) Permitted Junior SecuritiesSecurities and (b) payments made from the trust described in Section 8.01 so long as, on the date or dates the respective amounts were paid into the trust, such payments were made with respect to the Notes without violating this Article 10 or any other material agreement binding on the Company, including the Credit Agreement) (collectively, "“pay the Securities"Notes”) if (ai) a default in the payment of the principal of, premium, if any, or interest on any Designated Senior Indebtedness of the Company occurs and is continuing or any other amount owing in respect of any such Designated Senior Indebtedness is not paid when due, or (bii) any other default on such Designated Senior Indebtedness of the Company occurs and the maturity of such Designated Senior Indebtedness is accelerated in accordance with its terms unless, in either case, (ix) the default has been cured or waived and any such acceleration has been rescinded or (iiy) such Designated Senior Indebtedness has been paid in full in cash or Cash Equivalents; providedcash. However, however, that the Company may pay the Securities Notes without regard to the foregoing if the Company and the Trustee receive written notice approving such payment from the Representative of each series of the holders of such Designated Senior Indebtedness with respect to which either of the events set forth in clause (ai) or (bii) of this the immediately preceding sentence has occurred and is continuing. During In addition to the foregoing, during the continuance of any default (other than a default described in clause (ai) or (bii) of the second preceding sentence) with respect to any Designated Senior Indebtedness of the Company pursuant to which the maturity thereof may be accelerated (x) immediately without further notice (except such notice as may be required to effect such acceleration) or (y) upon the expiration of any applicable grace periods, the Company may not pay the Securities Notes for a period (a "“Payment Blockage Period"”) commencing upon the receipt by the Trustee (with a copy to the Company) of written notice (a "“Blockage Notice"”) of such default from the Representative of the holders of such Designated Senior Indebtedness specifying an election to effect a Payment Blockage Period and ending on the earliest to occur of the following events: (1) 179 days thereafter shall have elapsed since the receipt of such Blockage Notice; (or earlier if 2) such Payment Blockage Period is terminated (i) by written notice to the Trustee and the Company from the Person or Persons who gave such Blockage Notice, ; (ii3) because such Designated Senior Indebtedness has been repaid the repayment in full in cash or Cash Equivalents of such defaulted Designated Senior Indebtedness; or (iii4) because the default giving rise to such Blockage Notice is no longer continuing). Notwithstanding the provisions described in the immediately preceding sentence (but subject to the provisions contained in the first sentence of this Section 10.03 and in Section 10.02(b)10.02), unless the holders of such Designated Senior Indebtedness or the Representative of such holders shall have accelerated the maturity of such Designated Senior Indebtedness, the Company may resume payments on the Securities Notes, after the end of such Payment Blockage Period, including any missed payments. Not more than one Blockage Notice may be given in any consecutive 360-day period, irrespective of the number of defaults with respect to Designated Senior Indebtedness during such period; provided, however, that if any Blockage Notice within such 360-day period is given by or on behalf of any holders of Designated Senior Indebtedness other than the Bank Indebtedness, the Representative of the Bank Indebtedness may give one additional Blockage Notice within such period; provided further, however, that in In no event may the total number of days during which any Payment Blockage Period or Periods is in effect exceed 179 days in the aggregate during any 360 consecutive day period. For purposes of this Section 10.03provision, no default or event of default that existed or was continuing on the date of the commencement of any Payment Blockage Period with respect to the Designated Senior Indebtedness initiating such Payment Blockage Period shall be, or be made, the basis of the commencement of a subsequent Payment Blockage Period by the Representative of such Designated Senior Indebtedness, whether or not within a period of 360 consecutive days, unless such default or event of default shall have been cured or waived for a period of not less than 90 consecutive days.

Default on Designated Senior Indebtedness. The Company may not pay make any payment or distribution to the principal of, premium (if any) Trustee or interest on any Holder in respect of Obligations with respect to the Securities Notes or make any deposit pursuant to Section 8.01 the provisions of Article 8 of this Indenture and may not otherwise repurchasepurchase, redeem or otherwise retire any Securities (except that Holders may receive and retain Permitted Junior Securities) Notes (collectively, "“pay the Securities"Notes”) if (ai) a default in the payment of the principal of, premium, if any, or interest on any Designated Senior Indebtedness of the Company occurs and is continuing beyond any applicable grace period or any other amount owing in respect of any such Designated Senior Indebtedness is not paid when due, or (bii) any other default on such Designated Senior Indebtedness occurs and the maturity of such Designated Senior Indebtedness is accelerated in accordance with its terms unless, in either case, (ix) the default has been cured or waived and any such acceleration has been rescinded or (iiy) such Designated Senior Indebtedness has been paid in full (except that Holders may receive and retain (a) Permitted Junior Securities and (b) payments made from the trust in cash accordance with Section 8.05 hereof so long as, on the date or Cash Equivalents; provideddates the respective amounts were paid into the trust, howeversuch payments were made with respect to the Notes without violating the provisions of this Article 10 or any other material agreement binding on the Company). However, that the Company may pay the Securities Notes without regard to the foregoing if the Company and the Trustee receive written notice approving such payment from the Representative of the holders of such Designated Senior Indebtedness with respect to which either of the events set forth in clause (ai) or (bii) of this the immediately preceding sentence has occurred and is continuing. During In addition to the foregoing, during the continuance of any default (other than a default described in clause (ai) or (bii) of the second preceding sentence) with respect to any Designated Senior Indebtedness of the Company pursuant to which the maturity thereof may be accelerated immediately without further notice (except such notice as may be required to effect such acceleration) or upon the expiration of any applicable grace periods, the Company may not pay the Securities Notes for a period (a "“Payment Blockage Period"”) commencing upon the receipt by the Trustee (with a copy to the Company) of written notice (a "“Blockage Notice"”) of such default from the Representative of the holders of such Designated Senior Indebtedness specifying an election to effect a Payment Blockage Period and ending on the earliest to occur of the following events: (a) 179 days thereafter shall have elapsed since such receipt of such Blockage Notice; (or earlier if b) such Payment Blockage Period is terminated (i) by written notice to the Trustee and (with a copy to the Company Company) from the Person or Persons who gave such Blockage Notice, (iic) because the repayment in full of such Designated Senior Indebtedness has been repaid in full in cash or Cash Equivalents Indebtedness, or (iiid) because the default giving rise to such Blockage Notice is no longer continuing). During any period in which payments are blocked pursuant to the preceding paragraph, Holders of the Notes and the related Note Guarantees will be entitled to all remedies with respect to the Notes and the Note Guarantees, however, any amount received by Holders with respect to the Notes or the Note Guarantees, including as a result of legal action to enforce the Notes of the Note Guarantees, would be required to be turned over to Holders of Designated Senior Indebtedness. Notwithstanding the provisions described in the immediately preceding sentence (but subject to the provisions contained in the first sentence of this Section 10.03 and in Section 10.02(b)10.02), unless the holders of such Designated Senior Indebtedness or the Representative of such holders shall have accelerated the maturity of such Designated Senior Indebtedness, the Company may resume payments on the Securities Notes after the end of such Payment Blockage Period, including any missed payments. Not more than one Blockage Notice may be given in any consecutive 360-day period, irrespective of the number of defaults with respect to Designated Senior Indebtedness during such period; provided, however, that if any Blockage Notice within such 360-day period is given by or on behalf of any holders of Designated Senior Indebtedness other than the Bank Indebtedness, the Representative of the Bank Indebtedness may give one additional Blockage Notice within such period; provided further, however, that in In no event may shall the total number of days during which any Payment Blockage Period or Periods is in effect extend beyond the 179 days from the date of receipt by the Trustee of the relevant Blockage Notice, and in no event shall the total number of days during which any Payment Blockage Period is in effect exceed 179 days in the aggregate during any 360 consecutive day period. For purposes of this Section 10.03provision, no default or event of default that existed or was continuing on the date of the commencement of any Payment Blockage Period with respect to the Designated Senior Indebtedness initiating such Payment Blockage Period shall be, or be made, the basis of the commencement of a subsequent Payment Blockage Period by the Representative of such Designated Senior Indebtedness, whether or not within a period of 360 consecutive days, unless such default or event of default shall have been cured or waived for a period of not less than 90 consecutive days.

Default on Designated Senior Indebtedness. The Company may not pay the principal of, premium (if any) or interest on the Securities or make any deposit pursuant to Section 8.01 and may not otherwise repurchase, 80 redeem or otherwise retire any Securities (except that Holders may receive and retain Permitted Junior Securities) (collectively, "pay the Securities") if (ai) a default in the payment of the principal of, premium, if any, or interest on any Designated Senior Indebtedness of the Company occurs and is continuing or any other amount owing in respect of any such Designated Senior Indebtedness is not paid when due, due or (bii) any other default on such Designated Senior Indebtedness of the Company occurs and the maturity of such Designated Senior Indebtedness is accelerated in accordance with its terms unless, in either case, (ix) the default has been cured or waived and any such acceleration has been rescinded or (iiy) such Designated Senior Indebtedness has been paid in full in cash or Cash Equivalentsfull; provided, however, that the Company may pay the Securities without regard to the foregoing if the Company and the Trustee receive written notice approving such payment from the Representative of the holders of such Designated Senior Indebtedness with respect to which either of the events set forth in clause (ai) or (bii) of this sentence has occurred and is continuing. During the continuance of any default (other than a default described in clause (ai) or (bii) of the preceding sentence) with respect to any Designated Senior Indebtedness of the Company pursuant to which the maturity thereof may be accelerated immediately without further notice (except such notice as may be required to effect such acceleration) or the expiration of any applicable grace periods, the Company may not pay the Securities for a period (a "Payment Blockage Period") commencing upon the receipt by the Trustee (with a copy to the Company) of written notice (a "Blockage Notice") of such default from the Representative of the holders of such Designated Senior Indebtedness specifying an election to effect a Payment Blockage Period and ending 179 days thereafter (or earlier if such Payment Blockage Period is terminated (i) by written notice to the Trustee and the Company from the Person or Persons who gave such Blockage Notice, (ii) because such Designated Senior Indebtedness has been repaid in full in cash or Cash Equivalents or (iii) because the default giving rise to such Blockage Notice is no longer continuingcontinuing or (iii) because such Designated Senior Indebtedness has been repaid in full). Notwithstanding the provisions described in the immediately preceding sentence (but subject to the provisions contained in the first sentence of this Section and in Section 10.02(b))sentence, unless the holders of such Designated Senior Indebtedness giving such Blockage Notice or the Representative of such holders shall have accelerated the maturity of such Designated Senior Indebtedness, the Company may shall resume payments on the Securities after the end of such Payment Blockage Period, including any missed payments. Not The Securities shall not be subject to more than one Payment Blockage Notice may be given Period in any consecutive 360-day period, irrespective of the number of defaults with respect to Designated Senior Indebtedness of the Company during such period; provided, however, that if any Blockage Notice within such 360-day period is given by or on behalf of any holders of Designated Senior Indebtedness other than the Bank Indebtedness, the Representative of the Bank Indebtedness may give one additional Blockage Notice within such period; provided further, however, that in no event may the total number of days during which any Payment Blockage Period or Periods is in effect exceed 179 days in the aggregate during any 360 consecutive day period. For purposes of this Section 10.03Section, no default or event of default that which existed or was continuing on the date of the commencement of any Payment Blockage Period with respect to the Designated Senior Indebtedness initiating such Payment Blockage Period shall be, or be made, the basis of the commencement of a subsequent Payment Blockage Period by the Representative of such Designated Senior Indebtedness, whether or not within a period of 360 consecutive days, unless such default or event of default shall have been cured or waived for a period of not less than 90 consecutive days.

Default on Designated Senior Indebtedness. The Company may not pay the principal of, premium (if any) or interest on the Securities or make any deposit pursuant to Section 8.01 and may not otherwise repurchase, redeem or otherwise retire any Securities (except that Holders may receive and retain Permitted Junior Securities) (collectively, "pay the Securities") if (ai) a default in the payment of the principal of, premium, if any, or interest on any Designated Senior Indebtedness of the Company occurs and is continuing or any other amount owing in respect of any such Designated Senior Indebtedness is not paid when due, due or (bii) any other default on such Designated Senior Indebtedness of the Company occurs and the maturity of such Designated Senior Indebtedness is accelerated in accordance with its terms unless, in either case, (ix) the default has been cured or waived and any such acceleration has been rescinded or (iiy) such Designated Senior Indebtedness has been paid in full in cash or Cash Equivalentsfull; provided, however, that the Company may pay the Securities without regard to the foregoing if the Company and the Trustee receive written notice approving such payment from the Representative of the holders of such Designated Senior Indebtedness with respect to which either of the events set forth in clause (ai) or (bii) of this sentence has occurred and is continuing. During the continuance of any default (other than a default described in clause (ai) or (bii) of the preceding sentence) with respect to any Designated Senior Indebtedness of the Company pursuant to which the maturity thereof may be accelerated immediately without further notice (except such notice as may be required to effect such acceleration) or the expiration of any applicable grace periods, the Company may not pay the Securities for a period (a "Payment Blockage Period") commencing upon the receipt by the Trustee (with a copy to the Company) of written notice (a "Blockage Notice") of such default from the Representative of the holders of such Designated Senior Indebtedness specifying an election to effect a Payment Blockage Period and ending 179 days thereafter (or earlier if such Payment Blockage Period is terminated (i) by written notice to the Trustee and the Company from the Person or Persons who gave such Blockage Notice, (ii) because such Designated Senior Indebtedness has been repaid in full in cash or Cash Equivalents or (iii) because the default giving rise to such Blockage Notice is no longer continuingcontinuing or (iii) because such Designated Senior Indebtedness has been repaid in full). Notwithstanding the provisions described in the immediately preceding sentence (but subject to the provisions contained in the first sentence of this Section and in Section 10.02(b))sentence, unless the holders of such Designated Senior Indebtedness giving such Blockage Notice or the Representative of such holders shall have accelerated the maturity of such Designated Senior Indebtedness, the Company may shall resume payments on the Securities after the end of such Payment Blockage Period, including any missed payments. Not The Securities shall not be subject to more than one Payment Blockage Notice may be given Period in any consecutive 360-day period, irrespective of the number of defaults with respect to Designated Senior Indebtedness of the Company during such period; provided, however, that if any Blockage Notice within such 360-day period is given by or on behalf of any holders of Designated Senior Indebtedness other than the Bank Indebtedness, the Representative of the Bank Indebtedness may give one additional Blockage Notice within such period; provided further, however, that in no event may the total number of days during which any Payment Blockage Period or Periods is in effect exceed 179 days in the aggregate during any 360 consecutive day period. For purposes of this Section 10.03Section, no default or event of default that which existed or was continuing on the date of the commencement of any Payment Blockage Period with respect to the Designated Senior Indebtedness initiating such Payment Blockage Period shall be, or be made, the basis of the commencement of a subsequent Payment Blockage Period by the Representative of such Designated Senior Indebtedness, whether or not within a period of 360 consecutive days, unless such default or event of default shall have been cured or waived for a period of not less than 90 consecutive days.

Default on Designated Senior Indebtedness. The No direct or indirect payment by or on behalf of the Company may not pay of Senior Subordinated Obligations, whether pursuant to the principal of, premium (if any) or interest on terms of the Securities or make any deposit pursuant to Section 8.01 and may not otherwise repurchaseupon acceleration or otherwise, redeem or otherwise retire any Securities (except that Holders may receive and retain Permitted Junior Securities) (collectivelyshall be made if, "pay at the Securities") if (a) time of such payment, there exists a default in the payment of all or any portion of the principal of, premium, if any, obligations under or interest on with respect to any Designated Senior Indebtedness of the Company occurs and is continuing or any other amount owing in respect of any such Designated Senior Indebtedness is default shall not paid when due, or (b) any other default on such Designated Senior Indebtedness occurs and the maturity of such Designated Senior Indebtedness is accelerated in accordance with its terms unless, in either case, (i) the default has have been cured or waived and any such acceleration has been rescinded or (ii) such Designated Senior Indebtedness has been paid in full in cash the benefits of this sentence waived by or Cash Equivalents; provided, however, that the Company may pay the Securities without regard to the foregoing if the Company and the Trustee receive written notice approving such payment from the Representative on behalf of the holders of such Designated Senior Indebtedness with respect to which either of the events set forth in clause (a) or (b) of this sentence has occurred and is continuingIndebtedness. During In addition, during the continuance of any other event of default (other than a default described in clause (a) or (b) of the preceding sentence) with respect to any Designated Senior Indebtedness of the Company pursuant to which the maturity thereof may be accelerated immediately without further accelerated, upon receipt by the Trustee of written notice from the trustee or other representative for the holders of such Designated Senior Indebtedness (except or the holders of at least a majority in principal amount of such notice as Designated Senior Indebtedness then outstanding), no payment of Senior Subordinated Obligations may be required to effect such acceleration) made by or the expiration on behalf of any applicable grace periods, the Company may not pay upon or in respect of the Securities for a period (a "Payment Blockage Period") commencing upon on the date of receipt by the Trustee (with a copy to the Company) of written notice (a "Blockage Notice") of such default from the Representative of the holders of such Designated Senior Indebtedness specifying an election to effect a Payment Blockage Period notice and ending 179 days thereafter (or earlier if unless, in each case, such Payment Blockage Period is shall be terminated (i) by written notice to the Trustee and the Company from the Person such trustee of, or Persons who gave other representatives for, such Blockage Notice, holders or (ii) because by such Designated Senior Indebtedness has event of default having been repaid cured or waived or otherwise ceasing to exist or (iii) by payment in full in cash or Cash Equivalents or (iii) because the default giving rise to such Blockage Notice is no longer continuing). Notwithstanding the provisions described in the immediately preceding sentence (but subject to the provisions contained in the first sentence of this Section and in Section 10.02(b)), unless the holders of such Designated Senior Indebtedness or the Representative of such holders shall have accelerated the maturity cash equivalents of such Designated Senior Indebtedness, the Company may resume payments on the Securities after the end of such Payment Blockage Period, including any missed payments). Not more than one Payment Blockage Notice Period may be given in any consecutive 360-day period, irrespective of the number of defaults commenced with respect to Designated Senior Indebtedness the Securities during such period; providedany period of 360 consecutive days. Notwithstanding anything in the Indenture to the contrary, however, that if there must be 180 consecutive days in any Blockage Notice within such 360-day period is given by or on behalf of any holders of Designated Senior Indebtedness other than the Bank Indebtedness, the Representative of the Bank Indebtedness may give one additional Blockage Notice within such period; provided further, however, that in which no event may the total number of days during which any Payment Blockage Period or Periods is in effect exceed 179 days in the aggregate during any 360 consecutive day periodeffect. For purposes of this Section 10.03, no default or No event of default that existed or was continuing (it being acknowledged that any subsequent action that would give rise to an event of default pursuant to any provision under which an event of default previously existed or was continuing shall constitute a new event of default for this purpose) on the date of the commencement of any Payment Blockage Period with respect to the Designated Senior Indebtedness initiating such Payment Blockage Period shall be, or shall be made, the basis of for the commencement of a subsequent second Payment Blockage Period by the Representative of representative for, or the holders of, such Designated Senior Indebtedness, whether or not within a period of 360 consecutive days, unless such default or event of default shall have been cured or waived for a period of not less than 90 consecutive days. To the extent any payment of Senior Indebtedness (whether by or on behalf of the Company, as proceeds of security or enforcement of any right of setoff or otherwise) is declared to be fraudulent or preferential, set aside or required to be paid to any receiver, trustee in bankruptcy, liquidating trustee, agent or other similar Person under any bankruptcy, insolvency, receivership, fraudulent conveyance or similar law, then if such payment is recovered by, or paid over to, such receiver, trustee in bankruptcy, liquidating trustee, agent or other similar Person, the Senior Indebtedness or part thereof originally intended to be satisfied shall be deemed to be reinstated and outstanding as if such payment had not occurred. To the extent the obligation to repay any Senior Indebtedness is declared to be fraudulent, invalid, or otherwise set aside under any bankruptcy, insolvency, receivership, fraudulent conveyance or similar law, then the obligation so declared fraudulent, invalid or otherwise set aside (and all other amounts that would come due with respect thereto had such obligation not been so affected) shall be deemed to be reinstated and outstanding as Senior Indebtedness for all purposes hereof as if such declaration, invalidity or setting aside had not occurred.

Default on Designated Senior Indebtedness. The Company may not pay the principal of, premium (if any) or interest on the Securities or make any deposit pursuant to Section 8.01 and may not otherwise repurchase, redeem or otherwise retire any Securities (except that Holders may receive and retain Permitted Junior Securities) (collectively, "pay the Securities") if (ai) a default in the payment of the principal of, premium, if any, or interest on any Designated Senior Indebtedness of the Company occurs and is continuing or any other amount owing in respect of any such Designated Senior Indebtedness is not paid when due, due or (bii) any other default on such Designated Senior Indebtedness occurs and the maturity of such Designated Senior Indebtedness is accelerated in accordance with its terms unless, in either case, (ix) the default has been cured or waived and any such acceleration has been rescinded or (iiy) such Designated Senior Indebtedness has been paid in full in cash or Cash Equivalentsfull; providedPROVIDED, howeverHOWEVER, that the Company may pay the Securities without regard to the foregoing if the Company and the Trustee receive written notice approving such payment from the Representative of the holders of such Designated Senior Indebtedness with respect to which either of the events set forth in clause (ai) or (bii) of this sentence has occurred and is continuing. During the continuance of any default (other than a default described in clause (ai) or (bii) of the preceding sentence) with respect to any Designated Senior Indebtedness of the Company pursuant to which the maturity thereof may be accelerated immediately without further notice (except such notice as may be required to effect such acceleration) or the expiration of any applicable grace periods, the Company may not pay the Securities for a period (a "Payment Blockage Period") commencing upon the receipt by the Trustee (with a copy to the Company) of written notice (a "Blockage Notice") of such default from the Representative of the holders of such Designated Senior Indebtedness specifying an election to effect a Payment Blockage Period and ending 179 days thereafter (or earlier if such Payment Blockage Period is terminated (i) by written notice to the Trustee and the Company from the Person or Persons who gave such Blockage Notice, (ii) because such Designated Senior Indebtedness has been repaid in full in cash or Cash Equivalents or (iii) because the default giving rise to such Blockage Notice is no longer continuing)continuing or (iii) because such Designated Senior Indebtedness has been repaid in full. Notwithstanding the provisions described in the immediately preceding sentence (but subject to the provisions contained in the first sentence of this Section and in Section 10.02(b)Section), unless the holders of such Designated Senior Indebtedness or the Representative of such holders shall have accelerated the maturity of such Designated Senior Indebtedness, the Company may shall resume payments on the Securities after the end of such Payment Blockage Period, including any missed payments. Not more than one Blockage Notice may be given in any consecutive 360-day period, irrespective of the number of defaults with respect to Designated Senior Indebtedness during such period; providedPROVIDED, howeverHOWEVER, that if any Blockage Notice within such 360-day period is given by or on behalf of any holders of Designated Senior Indebtedness (other than the Bank Indebtednesslenders under any Credit Agreement), the Representative of the Bank Indebtedness lenders under any Credit Agreement may give one additional another Blockage Notice within such period; provided furtherPROVIDED FURTHER, howeverHOWEVER, that in no event may the total number of days during which any Payment Blockage Period or Periods is in effect exceed 179 days in the aggregate during any 360 consecutive day period. For purposes of this Section 10.03Section, no default or event of default that which existed or was continuing on the date of the commencement of any Payment Blockage Period with respect to the Designated Senior Indebtedness initiating such Payment Blockage Period shall be, or be made, the basis of the commencement of a subsequent Payment Blockage Period by the Representative of such Designated Senior Indebtedness, whether or not within a period of 360 consecutive days, unless such default or event of default shall have been cured or waived for a period of not less than 90 consecutive days.

Default on Designated Senior Indebtedness. The Company may not pay the principal of, premium (if any) or interest on the Securities or make any deposit pursuant to Section 8.01 and may not otherwise repurchase, redeem or otherwise retire any Securities (except that Holders may receive and retain Permitted Junior Securities) (collectively, "pay the Securities") if (ai) a default in the payment of the principal of, premium, if any, or interest on any Designated Senior Indebtedness of the Company occurs and is continuing or any other amount owing in respect of any such Designated Senior Indebtedness is not paid when due, due or (bii) any other default on such Designated Senior Indebtedness of the Company occurs and the maturity of such Designated Senior Indebtedness is accelerated in accordance with its terms unless, in either case, (ix) the default has been cured or waived and any such acceleration has been rescinded or (iiy) such Designated Senior Indebtedness has been paid in full in cash or Cash Equivalentsfull; provided, however, that the Company may pay the Securities without regard to the foregoing if the Company and the Trustee receive written notice approving such payment from the Representative of the holders of such Designated Senior Indebtedness with respect to which either of the events set forth in clause (ai) or (bii) of this sentence has occurred and is continuing. During the continuance of any default (other than a default described in clause (ai) or (bii) of the preceding sentence) with respect to any Designated Senior Indebtedness of the Company pursuant to which the maturity thereof may be accelerated immediately without further notice (except such notice as may be required to effect such acceleration) or the expiration of any applicable grace periods, the Company may not pay the Securities for a period (a "Payment Blockage Period") commencing upon the receipt by the Trustee (with a copy to the Company) of written notice (a "Blockage Notice") of such default from the Representative of the holders of such Designated Senior Indebtedness specifying an election to effect a Payment Blockage Period and ending 179 days thereafter (or earlier if such Payment Blockage Period is terminated (i) by written notice to the Trustee and the Company from the Person or Persons who gave such Blockage Notice, (ii) because such Designated Senior Indebtedness has been repaid in full in cash or Cash Equivalents or (iii) because the default giving rise to such Blockage Notice is no longer continuingcontinuing or (iii) because such Designated Senior Indebtedness has been repaid in full). Notwithstanding the provisions described in the immediately preceding sentence (but subject to the provisions contained in the first sentence of this Section and in Section 10.02(b))sentence, unless the holders of such Designated Senior Indebtedness giving such Blockage Notice or the Representative of such holders shall have accelerated the maturity of such Designated Senior Indebtedness, the Company may shall resume payments on the Securities after the end of such Payment Blockage Period, including any missed payments. Not The Securities shall not be subject to more than one Payment Blockage Notice may be given Period in any consecutive 360-day period, 97 88 irrespective of the number of defaults with respect to Designated Senior Indebtedness of the Company during such period; provided, however, that if any Blockage Notice within such 360-day period is given by or on behalf of any holders of Designated Senior Indebtedness other than the Bank Indebtedness, the Representative of the Bank Indebtedness may give one additional Blockage Notice within such period; provided further, however, that in no event may the total number of days during which any Payment Blockage Period or Periods is in effect exceed 179 days in the aggregate during any 360 consecutive day period. For purposes of this Section 10.03Section, no default or event of default that which existed or was continuing on the date of the commencement of any Payment Blockage Period with respect to the Designated Senior Indebtedness initiating such Payment Blockage Period shall be, or be made, the basis of the commencement of a subsequent Payment Blockage Period by the Representative of such Designated Senior Indebtedness, whether or not within a period of 360 consecutive days, unless such default or event of default shall have been cured or waived for a period of not less than 90 consecutive days.

Default on Designated Senior Indebtedness. The Company may also shall not pay the principal of, premium (if any) or interest on the Securities or make any deposit pursuant to Section 8.01 and may not otherwise repurchase, redeem payment upon or otherwise retire any in respect of the Securities (except that Holders may receive and retain Permitted in Junior Securities) (collectively, "pay the Securities") if (ai) a default in the payment of the principal of, premium, if any, interest, rent or interest on any Designated Senior Indebtedness of the Company occurs and is continuing or any other amount owing obligations in respect of any such Designated Senior Indebtedness is not paid when due, or (b) any other default on such Designated Senior Indebtedness occurs and the maturity is continuing beyond any applicable period of such Designated Senior Indebtedness is accelerated in accordance with its terms unless, in either case, (i) the default has been cured or waived and any such acceleration has been rescinded grace or (ii) such Designated Senior Indebtedness has been paid in full in cash or Cash Equivalents; provided, however, that the Company may pay the Securities without regard to the foregoing if the Company and the Trustee receive written notice approving such payment from the Representative of the holders of such Designated Senior Indebtedness with respect to which either of the events set forth in clause (a) or (b) of this sentence has occurred any other default occurs and is continuing. During the continuance of any default (other than a default described in clause (a) or (b) of the preceding sentence) with respect to any Designated Senior Indebtedness of the Company pursuant to which the maturity thereof may be accelerated immediately without further notice (except such notice as may be required to effect such acceleration) or the expiration of any applicable grace periods, the Company may not pay the Securities for a period (a "Payment Blockage Period") commencing upon the receipt by the Trustee (with a copy to the Company) of written notice (a "Blockage Notice") of such default from the Representative of the holders of such Designated Senior Indebtedness specifying an election to effect a Payment Blockage Period and ending 179 days thereafter (or earlier if such Payment Blockage Period is terminated (i) by written notice to the Trustee and the Company from the Person or Persons who gave such Blockage Notice, (ii) because such Designated Senior Indebtedness has been repaid in full in cash or Cash Equivalents or (iii) because the default giving rise to such Blockage Notice is no longer continuing). Notwithstanding the provisions described in the immediately preceding sentence (but subject to the provisions contained in the first sentence of this Section and in Section 10.02(b)), unless the holders of such Designated Senior Indebtedness or the Representative of such holders shall have accelerated the maturity of such Designated Senior Indebtedness, the Company may resume payments on the Securities after the end of such Payment Blockage Period, including any missed payments. Not more than one Blockage Notice may be given in any consecutive 360-day period, irrespective of the number of defaults continuing with respect to Designated Senior Indebtedness during such period; provided, however, that if any Blockage Notice within such 360-day period is given by or on behalf of any permits holders of the Designated Senior Indebtedness other than as to which such default relates to accelerate its maturity, and in the Bank Indebtednesscase of this clause (ii) only, the Representative Trustee receives a notice of such default invoking the provisions described in this paragraph (a "Payment Blockage Notice") from the holders of any Designated Senior Indebtedness or any agent or trustee therefor. Payments on the Securities may and shall be resumed (a) in the case of a Payment Event, upon the date on which such default is cured or waived and (b) in case of a nonpayment default, the earlier of the Bank Indebtedness may give one additional date on which such nonpayment default is cured or waived or 179 days after the date on which the applicable Payment Blockage Notice within such period; provided further, however, that in no event is received by the Trustee. No new period of payment blockage may be commenced unless and until (i) 365 days have elapsed since the total number effectiveness of days during which any the immediately prior Payment Blockage Period or Periods is Notice and (ii) all scheduled payments of principal, premium, if any, and interest on the Securities that have come due have been paid in effect exceed 179 days full in the aggregate during any 360 consecutive day periodcash. For purposes of this Section 10.03, no default or event of No nonpayment default that existed or was continuing on the date of the commencement delivery of any Payment Blockage Period with respect Notice to the Designated Senior Indebtedness initiating such Payment Blockage Period Trustee shall be, or be made, the basis of the commencement of for a subsequent Payment Blockage Period by the Representative of such Designated Senior Indebtedness, whether or not within a period of 360 consecutive days, Notice unless such default or event of default shall have been cured or waived for a period of not less than 90 consecutive days. Whenever the Company is prohibited from making any payment in respect of the Securities, the Company also shall be prohibited from making, directly or indirectly, any payment of any kind on account of the purchase or other acquisition of the Securities.