Common use of Defaults and Acceleration Clause in Contracts

Defaults and Acceleration. (a) Pursuant to the Indenture, for purposes of determining whether a Default or Event of Default exists with respect to the Bonds, but only with respect to the Bonds, the following shall also constitute Events of Default under the Indenture: (i) default in the performance, or breach, of any covenant or warranty in this Agreement (other than (1) Section 6.1(l) (Financial and Other Statements (Notice of Environmental Matters)) hereof or (2) a covenant or warranty a default in the performance or breach of which is specifically dealt with elsewhere in this Agreement), and continuance of such default or breach for a period of 30 days after notice has been given in accordance with the procedures described in Section 9.01C (Events of Default) of the Indenture; or (ii) default in any representation or warranty made by the Company herein, or made by the Company in any statement or certificate furnished by the Company in connection with the consummation of the issuance and delivery of the Bonds is untrue in any material respect as of the date of the issuance or making thereof; or (iii) the Company or any of its Subsidiaries defaults in any payment, beyond any period of grace provided with respect thereto, of principal of, or premium or interest on, any obligation for borrowed money having an outstanding principal amount of $10,000,000 or more; or (iv) a final, non-appealable judgment in an amount in excess of $10,000,000 above available insurance coverage (so long as the insurer shall have agreed, in writing at the time such judgment shall become final, that it is responsible for payment of such judgment up to the limit of available coverage) is rendered against the Company or any of its Subsidiaries and, within 60 days after entry thereof, such judgment is not discharged. (b) In addition to the sums stated to be payable pursuant to Section 9.06 (Covenant to pay Trustee amounts due on Bonds and right of Trustee to judgment) of the Indenture upon the occurrence of the defaults referred to therein, upon the occurrence of an acceleration pursuant to Section 9.02 (Acceleration of Maturity; Rescission and Annulment) of the Indenture, the Company shall pay the Make Whole Amount, calculated as of the time of such payment, to each holder of Bonds in respect of the Bonds held by such holder.

Defaults and Acceleration. (a) Pursuant to the Indenture, for purposes of determining whether a Default or Event of Default exists with respect to the Bonds, but only with respect to the Bonds, the following shall also constitute Events of Default under the Indenture: (i) default in the performance, or breach, of any covenant or warranty in this Agreement (other than (1) Section 6.1(l) (Financial and Other Statements (Notice of Environmental Matters)) hereof or (2) a covenant or warranty a default in the performance or breach of which is specifically dealt with elsewhere in this Agreement), and continuance of such default or breach for a period of 30 days after notice has been given in accordance with the procedures described in Section 9.01C (Events of Default) of the Indenture; or (ii) default in any representation or warranty made by the Company herein, or made by the Company in any statement or certificate furnished by the Company in connection with the consummation of the issuance and delivery of the Bonds is untrue in any material respect as of the date of the issuance or making thereof; or (iii) the Company or any of its Subsidiaries defaults in any payment, beyond any period of grace provided with respect thereto, of principal of, or premium or interest on, any obligation for borrowed money having an outstanding principal amount of $10,000,000 or more; or (iv) a final, non-appealable judgment in an amount in excess of $10,000,000 above available insurance coverage (so long as the insurer shall have agreed, in writing at the time such judgment shall become becomes final, that it is responsible for payment of such judgment up to the limit of available coverage) is rendered against the Company or any of its Subsidiaries and, within 60 days after entry thereof, such judgment is not discharged. (b) In addition to the sums stated to be payable pursuant to Section 9.06 (Covenant to pay Trustee amounts due on Bonds and right of Trustee to judgment) of the Indenture upon the occurrence of the defaults referred to therein, upon the occurrence of an acceleration pursuant to Section 9.02 (Acceleration of Maturity; Rescission and Annulment) of the Indenture, the Company shall pay the Make Make-Whole Amount, calculated as of the time of such payment, to each holder of Bonds in respect of the Bonds held by such holder.

Defaults and Acceleration. (a) Pursuant to the Indenture, for purposes of determining whether a Default or Event of Default exists with respect to the Bonds, but only with respect to the Bonds, the following shall also constitute Events of Default under the Indenture: (i) default in the performance, or breach, of any covenant or warranty in this Agreement (other than (1) Section 6.1(l) (Financial and Other Statements (Notice of Environmental Matters)) hereof or (2) a covenant or warranty a default in the performance or breach of which is specifically dealt with elsewhere in this Agreement), and continuance of such default or breach for a period of 30 days after notice has been given in accordance with the procedures described in Section 9.01C (Events Company is notified of Default) of the Indenturesuch an event; or (ii) default in any representation or warranty made by the Company herein, or made by the Company in any statement or certificate furnished by the Company in connection with the consummation of the issuance and delivery of the Bonds is untrue in any material respect as of the date of the issuance or making thereof; or (iii) the Company or any of its Subsidiaries defaults in any payment, beyond any period of grace provided with respect thereto, of principal of, or premium or interest on, any obligation for borrowed money having an outstanding principal amount of $10,000,000 or more; or (iv) default in the performance, or breach, of any covenant or warranty in the documents governing any secured Indebtedness beyond any period of grace provided with respect thereto; or (v) a final, non-appealable judgment in an amount in excess of $10,000,000 above available insurance coverage (so long as the insurer shall have agreed, in writing at the time such judgment shall become becomes final, that it is responsible for payment of such judgment up to the limit of available coverage) is rendered against the Company or any of its Subsidiaries and, within 60 days after entry thereof, such judgment is not discharged. (b) In addition to the sums stated to be payable pursuant to Article VII, Section 9.06 7 (Covenant to pay Trustee amounts due on Bonds and right May Recover Judgment in Case of Trustee to judgmentDefault in Payment of Principal or Interest When Due) of the Indenture Indenture, upon the occurrence of the defaults referred to therein, upon the occurrence of an acceleration pursuant to Section 9.02 (Acceleration of Maturity; Rescission and Annulment) of the Indenturetherein or herein, the Company shall pay the Make Make-Whole Amount, calculated as of the time of such payment, in the manner set forth in the Supplemental Indenture, to each holder of Bonds in respect of the Bonds held by such holder.