Common use of Default on Senior Indebtedness of the Issuer Clause in Contracts

Default on Senior Indebtedness of the Issuer. The Issuer shall not pay principal of, premium, if any, or interest on the Notes (or pay any other Obligations relating to the Notes, including Additional Interest; fees, costs, expenses, indemnities and rescission or damage claims) or make any deposit pursuant to Article 8 [Discharge of Indenture/Defeasance] or Article 13 [Miscellaneous] hereof and may not purchase, redeem or otherwise retire any Notes (collectively, “pay the Notes”) (except in the form of Permitted Junior Securities) if either of the following occurs (a “Payment Default”):

Default on Senior Indebtedness of the Issuer. The Issuer shall not pay principal of, premium, if any, or interest on the Notes (or pay any other Obligations relating to the Notes, including Additional Interest; , fees, costs, expenses, indemnities and rescission or damage claims) or make any deposit pursuant to Article 8 [Discharge of Indenture/Defeasance] or Article 13 [Miscellaneous] hereof and may not purchase, redeem or otherwise retire any Notes (collectively, “pay the Notes”) (except in the form of Permitted Junior Securities) if either of the following occurs (a “Payment Default”):

Default on Senior Indebtedness of the Issuer. The Issuer shall not pay pay, directly or indirectly, principal (including any accretion) of, premium, if any, or interest on the Notes (or pay any other Obligations relating to the Notes, including Additional Interest; fees, costs, expenses, indemnities and rescission or damage claims) or make any deposit pursuant to Article 8 [Discharge of Indenture/Defeasance] or Article 13 [Miscellaneous] hereof and may not purchase, redeem or otherwise retire or acquire for cash or property any Notes (collectively, “pay the Notes”) (except in the form of Permitted Junior Securities) if either of the following occurs (a “Payment Default”):