Common use of Default on Senior Indebtedness Clause in Contracts

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, no payment shall be made by the Credit Union with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Company in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, no payment shall be made by the Credit Union Company with respect to the principal or interest on the Senior Subordinated Securities Notes or any other amounts which may be due on the Senior Subordinated Securities Notes pursuant to the terms hereof or thereof.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Company in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, no payment shall be made by the Credit Union Company with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, no payment shall be made by the Credit Union with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof.thereof.‌

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Company in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, no payment shall be made by the Credit Union Company with respect to the principal or interest on the CDCI Senior Subordinated Securities or any other amounts which may be due on the CDCI Senior Subordinated Securities pursuant to the terms hereof or thereof.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Company in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, no payment shall be made by the Credit Union Company with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Recipient in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, no payment shall be made by the Credit Union Recipient with respect to the principal or interest on the Senior Subordinated Securities Debt or any other amounts which may be due on the Senior Subordinated Securities Debt pursuant to the terms hereof or thereof.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Bank in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, no payment shall be made by the Credit Union Bank with respect to the principal or interest on the CDCI Senior Subordinated Securities or any other amounts which may be due on the CDCI Senior Subordinated Securities pursuant to the terms hereof or thereof.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Bank in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, no payment shall be made by the Credit Union Bank with respect to the principal or interest on the Senior Subordinated Securities Notes or any other amounts which may be due on the Senior Subordinated Securities Notes pursuant to the terms hereof or thereof.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Company in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, no payment shall be made by the Credit Union Company with respect to the principal or interest on the Senior Subordinated EQ2 Securities or any other amounts which may be due on the Senior Subordinated EQ2 Securities pursuant to the terms hereof or thereof.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, no payment shall be made by the Credit Union with respect to the principal or interest on the Senior Subordinated Securities Debt or any other amounts which may be due on the Senior Subordinated Securities Debt pursuant to the terms hereof or thereof.

Default on Senior Indebtedness. (a) In the event and during the continuation of any default by the Credit Union Bank in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, no payment shall be made by the Credit Union Bank with respect to the principal or interest on the Senior Subordinated Securities or any other amounts which may be due on the Senior Subordinated Securities pursuant to the terms hereof or thereof.