No Payment in Certain Circumstances. (a) If any default 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 Guarantor Senior Debt of any Guarantor, no payment of any kind or character (other than payments by a trust previously established pursuant to Article Eight) shall be made by such Guarantor with respect to any Obligations on such Guarantor's Guarantee or to acquire any of the Notes for cash or property. In addition, if any other event of default occurs and is continuing with respect to any Designated Senior Debt, as such event of default is defined in the instruments creating or evidencing such Designated Senior Debt, permitting the holders of such Designated Senior Debt then outstanding to accelerate the maturity thereof, and if the Representative for the respective issue of Designated Senior Debt gives a Default Notice, then, unless and until all events of default have been cured or waived or have ceased to exist or the Trustee receives notice from the Representative for the respective issue of Designated Senior Debt terminating the Blockage Period, during Blockage Period no Guarantor shall (x) make any payment of any kind or character (other than payments by a trust previously established pursuant to the provisions described under Article Eight) with respect to any Obligations on the Guarantees or (y) acquire any of the Notes for cash or property. Notwithstanding anything herein to the contrary, in no event will a Blockage Period extend beyond 180 days from the date of the commencement of the Blockage Period, and only one such Blockage Period may be commenced within any 365 consecutive days. No event of default which existed or was continuing on the date of the commencement of any Blockage Period with respect to the Designated Senior Debt shall be, or be made, the basis for commencement of a second Blockage Period by the Representative of such Designated Senior Debt whether or not within a period of 365 consecutive days, unless such event of default shall have been cured or waived for a period of not less than 90 consecutive days (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 prov...
No Payment in Certain Circumstances. The Company may not make any payment of principal of, or premium, if any, or interest on the Securities on or account of the purchase, redemption or other acquisition of Securities or constituting a sinking fund or defeasance payment by the Company to the Trustee or the Paying Agent, as the case may be, in accordance with Article Twelve or Article Thirteen, respectively, on the Securities (other than Previous Payments), if:
No Payment in Certain Circumstances. Payment over of Proceeds upon ------------------------------------------------------------------ Dissolution, Etc. ---------------- No payment shall be made with respect to the principal of, or premium, if any, or interest (including Liquidated Damages, if any) on the Securities (including, but not limited to, the Redemption Price with respect to the Securities to be called for redemption in accordance with Article XI or the Repurchase Price with respect to Securities submitted for repurchase in accordance with Article XIV), except payments and distributions made by the Trustee as permitted by Section 13.9, if:
No Payment in Certain Circumstances. At all times prior to the Loan Maturity Date, and without limitation of the rights of the Senior Secured Parties under the terms of the Loan Documents:
No Payment in Certain Circumstances. (a) During the continuance of any default in the payment of any Senior Indebtedness beyond any applicable grace period pursuant to which the maturity thereof may immediately be accelerated, no payment or distribution of any assets of the Corporation of any kind or character (other than capital stock of the Corporation or other securities of the Corporation that are subordinated to Senior Indebtedness to at least the same extent as the Notes) shall be made on account of the Subordinated Obligations, or the purchase, redemption or other acquisition of, the Notes unless and until such default has been cured or waived or has ceased to exist or such Senior Indebtedness shall have been discharged or paid in full.
No Payment in Certain Circumstances. (a) In the event that any principal of or interest on the Senior Debt is not paid when due, whether at stated maturity, by mandatory prepayment, by acceleration or otherwise, but after expiration of any applicable grace period (each a "SENIOR DEBT PAYMENT DEFAULT"), then no payment or distribution of any kind or character (including any acquisition of the Notes) shall be made by the Company, or accepted by any Investor, on account of the Subordinated Debt unless and until such payment shall have been made or such Senior Debt Payment Default is waived in accordance with the terms of such Senior Debt.
No Payment in Certain Circumstances. PAYMENT OVER OF PROCEEDS UPON DISSOLUTION, ETC. No payment shall be made with respect to the principal of, or premium, if any, or interest on the Securities (including, but not limited to, the Redemption Price with respect to the Securities to be called for redemption in accordance with Article XI or the Repurchase Price with respect to Securities submitted for repurchase in accordance with Article XIV), except payments and distributions made by the Trustee as permitted by Section 13.9, if:
No Payment in Certain Circumstances. Until the Termination Date, and without limitation to the rights of the Secured Parties under the terms of the Financing Documents:
No Payment in Certain Circumstances. No payment shall be made ----------------------------------- with respect to the principal of, or premium, if any, or interest on the Notes (including, but not limited to, the Purchase Price with respect to Notes submitted for repurchase in accordance with Article Ten of this Third Supplemental Indenture), if:
No Payment in Certain Circumstances. 53 SECTION 11.04 PAYMENTS OTHERWISE PERMITTED..............................54 SECTION 11.05 SUBROGATION...............................................54 SECTION 11.06 PROVISIONS SOLELY TO DEFINE RELATIVE RIGHTS...............54 SECTION 11.07
