No Payment on Note in Certain Circumstances Sample Clauses

No Payment on Note in Certain Circumstances. (a) During the continuance of any default in the payment of any Senior Debt, whether at maturity, upon redemption or pursuant to acceleration or otherwise (each, a "Payment Default"), no direct or indirect payment of any kind shall be made, asked for, demanded, accepted, received or retained with respect to principal, interest or other amounts due under the Note nor shall any holder thereof exercise any remedies with respect thereto.
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No Payment on Note in Certain Circumstances. (a) During the continuance of any default in the payment of any Senior Debt, whether at maturity, upon redemption or pursuant to acceleration or otherwise (each, a "PAYMENT DEFAULT"), no direct or indirect payment of any kind (other than the payment of interest on the Notes in PIK Notes) shall be made, asked for, demanded, accepted, received or retained with respect to principal, interest or other amounts due under the Notes nor shall any holder thereof exercise any remedies with respect thereto.
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No Payment on Note in Certain Circumstances. (a) To the extent any payment hereunder is blocked by a Payment Restriction, no direct or indirect payment of any kind shall be made, asked for or demanded from Payor or accepted, received or retained from Payor with respect to principal, interest or other amounts due under this Note.
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No Payment on Note in Certain Circumstances. (i) No payment may be made by the Company on account of the principal of or interest on this Note, or to acquire this Note (including repurchases of this Note at the option of the Holder) for cash, securities or property, or on account of the redemption provisions of this Note (except for any payment or distribution of equity or debt securities which are subordinated to the payment in full of all Existing Senior Indebtedness then outstanding to at least the same extent as the obligations evidenced hereby are subordinated to the payment in full of all Existing Senior Indebtedness hereunder and which, in any case, do not mature prior to the maturity of the Existing Senior Indebtedness), (A) upon the maturity of any Existing Senior Indebtedness of the Company by lapse of time, acceleration (unless waived) or otherwise, unless and until all principal of and interest on such Existing Senior Indebtedness are first paid in full (or such payment is duly provided for), or (B) in the event of default in the payment of any principal of or interest on any Existing Senior Indebtedness when it becomes due and payable, whether at maturity or at a date fixed for prepayment or by declaration or otherwise (a "Payment Default"), unless and until such Payment Default has been cured or waived or otherwise has ceased to exist.
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No Payment on Note in Certain Circumstances. (i) If there shall be any Credit Agreement Default, unless and until such Credit Agreement Default shall have been cured or waived or shall have ceased to exist (as evidenced in writing by the Administrative Agent), neither Borrower or any other Person may make any payment on account of principal of or interest on this Note, or any other amount of whatever nature in respect of this Note, or acquire this Note for cash, property or securities, by set-off or otherwise, or redeem, retire, purchase, or deposit moneys for defeasance of or to acquire this Note, and Borrower shall not segregate and hold separate for the benefit of the Holder money or other assets for any such payment or distribution.
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No Payment on Note in Certain Circumstances. (a) Upon the maturity of any Senior Indebtedness by lapse of time, acceleration (unless waived) or otherwise, all such Senior Indebtedness shall first be paid in full in cash or cash equivalents before any payment (including, without limitation, any payment into the Escrow Account as contemplated by Section 4 of this Note and Section 11.07 of the Stock Purchase Agreement) is made by the Maker on account of the principal of or interest on this Note and, until the Senior Indebtedness is paid in full in cash or cash equivalents, any distribution to which Payee or any other holder of this Note would be entitled but for this Section 3 shall be made to holders of Senior Indebtedness as their interests may appear.
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No Payment on Note in Certain Circumstances. After the delivery to the Holder of written notice by the Holder of the Senior Indebtedness of the occurrence, and during the continuance, of any Senior Default (defined below), unless and until such default shall have been cured or waived or shall have ceased to exist and any declaration that the Senior Indebtedness has become due and payable prior to the date on which it would otherwise have become due and payable shall have been rescinded or annulled, or if any judicial proceeding shall be pending with respect to any such default, then no payment shall be made by the maker on account of principal of or interest on this Note.
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No Payment on Note in Certain Circumstances. Unless Subparagraph 4.3 shall be applicable, upon (i) (A) the occurrence of any default in the payment of all or any portion then due of principal of, premium, if any, or interest on any Senior Indebtedness, (B) the occurrence of any event which entitles one or more persons to act to accelerate the maturity of any Senior Indebtedness or (C) the existence of any facts or circumstances which would result in the occurrence of any event described in clause (A) or clause (B) if Borrower were to make any payment hereunder (any event described in clause (A) or clause (B) or facts or circumstances described in clause (C), a "Senior Indebtedness Default") and (ii) receipt by the Lender from the indenture trustee or other trustee, agent or representative for any Senior Indebtedness (the "Representative") of written notice of such Senior Indebtedness Default, then no direct or indirect payments or distribution of any assets of Borrower of any kind or character shall be made by or on behalf of Borrower on account of the Obligations on this Note or on account of the purchase or redemption or other acquisition of this Note whether pursuant to the terms of this Note or upon acceleration or otherwise unless and until such Senior Indebtedness Default shall have been cured or waived or shall have ceased to exist, or such Senior Indebtedness as to which such Senior Indebtedness Default relates shall have been discharged or paid in full in cash, after which Borrower shall resume making any and all required payments in respect of this Note, including any missed payments. In the event that, notwithstanding the foregoing, the Lender or any holder of this Note shall have received any payment or distribution prohibited by the foregoing provisions of this Subparagraph 4.2, then such payment or distribution shall be received, segregated from other funds, and held in trust by Lender or such other holder of this Note, as the case may be, for the benefit of, and shall immediately be paid over and delivered forthwith to the Representatives or as a court of competent jurisdiction shall direct.
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Related to No Payment on Note in Certain Circumstances

  • No Payment on Notes in Certain Circumstances (a) If any default occurs and is continuing in the payment when due, whether at maturity, upon 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 Senior Debt, no payment of any kind or character shall be made by, or on behalf of, the Company or any other 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 Debt, as such event of default is defined in the instrument 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 notice of the event of default to the Trustee (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 thereof from the Representative for the respective issue of Designated Senior Debt terminating the Blockage Period (as 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) make any payment of any kind or character with respect to any Obligations on the Notes or (y) acquire any of the Notes for cash or property or otherwise. Notwithstanding anything herein to the contrary, in no event will a Blockage Period extend beyond 180 days from the date the payment on the Notes was due and only one such Blockage Period may be commenced within any 360 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 the commencement of a second Blockage Period by the Representative of such Designated Senior Debt whether or not within a period of 360 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 provisions under which an event of default previously existed or was continuing shall constitute a new event of default for this purpose).

  • No Payment on Securities in Certain Circumstances (a) No direct or indirect payment by or on behalf of the Issuer of principal of or interest on the Securities, including any deposit to the defeasance trust pursuant to Section 8.03, whether pursuant to the terms of the Securities, upon acceleration, pursuant to an Asset Sale Offer or Change of Control Offer or otherwise, shall be made to the Holders (except that Holders may receive and retain payments made from the defeasance trust described under Article 8) if (i) a default in the payment of the principal of or interest on Designated Senior Debt occurs and is continuing beyond any applicable period of grace or (ii) any other default occurs and is continuing with respect to Designated Senior Debt that permits holders of the Designated Senior Debt as to which such default relates to accelerate its maturity and the Trustee receives a written notice of such other default (a “Payment Blockage Notice”) from the Issuer or the holders of any Designated Senior Debt (with a copy to the Issuer) until all Obligations with respect to such Designated Senior Debt are paid in full in cash; provided, that payments on the Securities shall be resumed (x) in the case of a payment default, upon the date on which such default is cured, waived or ceases to exist and (y) in case of a nonpayment default, the earlier of the date on which such nonpayment default is cured, waived or ceases to exist and 179 days after the date on which the applicable Payment Blockage Notice is received by the Trustee (such period being referred to herein as the “Payment Blockage Period”), unless the maturity of any Designated Senior Debt has been accelerated (and written notice of such acceleration has been received by the Trustee). Notwithstanding anything herein or in the Securities to the contrary, (x) in no event shall a Payment Blockage Period extend beyond 179 days from the date the Payment Blockage Notice in respect thereof was given and (y) not more than one Payment Blockage Period may be commenced with respect to the Securities during any period of 360 consecutive days. No nonpayment default that existed or was continuing on the date of delivery of any Payment Blockage Notice to the Trustee shall be, or be made, the basis for a subsequent Payment Blockage Notice (it being understood that any subsequent action, or any breach of any covenant for a period commencing after the date of receipt by the Trustee of such Payment Blockage Notice, that, in either case, would give rise to such a default pursuant to any provisions under which a default previously existed or was continuing shall constitute a new default for this purpose).

  • Reinstatement in Certain Circumstances If at any time any payment of the principal of or interest under the Note or any other amount payable by the Borrower under the Loan Documents is rescinded or must be otherwise restored or returned upon the insolvency, bankruptcy or reorganization of the Borrower or otherwise, the Guarantor’s obligations hereunder with respect to such payment shall be reinstated as though such payment has been due but not made at such time.

  • Obligation to Purchase Under Certain Circumstances If any Underwriter or Underwriters shall fail to take up and pay for the amount of Firm Shares agreed by such Underwriter or Underwriters to be purchased hereunder, upon tender of such Firm Shares in accordance with the terms hereof, and the amount of Firm Shares not purchased does not aggregate more than 10% of the total amount of Firm Shares set forth in Schedule I hereto, the remaining Underwriters shall be obligated to take up and pay for (in proportion to their respective underwriting obligations hereunder as set forth in Schedule I hereto except as may otherwise be determined by you) the Firm Shares that the withdrawing or defaulting Underwriters agreed but failed to purchase.

  • Six-Month Delay in Certain Circumstances Notwithstanding anything in this Agreement to the contrary, if any amount or benefit that would constitute Non-Exempt Deferred Compensation would otherwise be payable or distributable under this Agreement by reason of the Executive’s separation from service during a period in which he is a “specified employee” (as defined in Code Section 409A and the final regulations thereunder), then, subject to any permissible acceleration of payment by the Company under Treas. Reg. Section 1.409A‑3(j)(4)(ii) (domestic relations order), (j)(4)(iii) (conflicts of interest), or (j)(4)(vi) (payment of employment taxes), (i) the amount of such Non-Exempt Deferred Compensation that would otherwise be payable during the six-month period immediately following the Executive’s separation from service will be accumulated through and paid or provided on the first day of the seventh month following the Executive’s separation from service (or, if the Executive dies during such period, within thirty (30) days after the Executive’s death) (in either case, the “Required Delay Period”); and (ii) the normal payment or distribution schedule for any remaining payments or distributions will resume at the end of the Required Delay Period.

  • No Remedy in Certain Circumstances Each party agrees that, should any court or other competent authority hold any provision of this Agreement or part hereof or thereof to be null, void or unenforceable, or order any party to take any action inconsistent herewith or not to take any action required herein, the other party shall not be entitled to specific performance of such provision or part hereof or thereof or to any other remedy, including but not limited to money damages, for breach hereof or thereof or of any other provision of this Agreement or part hereof or thereof as a result of such holding or order.

  • Additional Interest Under Certain Circumstances (a) Additional interest (the “Additional Interest”) with respect to the Initial Securities shall be assessed as follows if any of the following events occur (each such event in clauses (i) through (iv) below a “Registration Default”):

  • Automatic Acceleration in Certain Circumstances If an Event of Default set forth in Section 7.01(A)(ix) or 7.01(A)(x) occurs with respect to the Company (and not solely with respect to a Significant Subsidiary of the Company), then the principal amount of, and all accrued and unpaid interest on, all of the Notes then outstanding will immediately become due and payable without any further action or notice by any Person.

  • Termination Under Certain Circumstances If any Underwriter or Underwriters shall fail to take up and pay for the amount of Firm Shares agreed by such Underwriter or Underwriters to be purchased hereunder, upon tender of such Firm Shares in accordance with the terms hereof, and the amount of Firm Shares not purchased aggregates more than 10% of the total amount of Firm Shares set forth in Schedule I hereto, and arrangements satisfactory to you for the purchase of such Firm Shares by other persons are not made within 36 hours thereafter, this Agreement shall terminate. In the event of any such termination the Company shall not be under any liability to any Underwriter (except to the extent provided in Section 4(a)(vii) and Section 6 hereof) nor shall any Underwriter (other than an Underwriter who shall have failed, otherwise than for some reason permitted under this Agreement, to purchase the amount of Firm Shares agreed by such Underwriter to be purchased hereunder) be under any liability to the Company (except to the extent provided in Section 6 hereof).

  • Discharge Only upon Payment in Full; Reinstatement in Certain Circumstances Each Guarantor’s obligations under this Section 13 shall remain in full force and effect until the Commitments are terminated, all Letters of Credit have expired, and the principal of and interest on the Loans and all other amounts payable by the Borrower and the Guarantors under this Agreement and all other Loan Documents and, if then outstanding and unpaid, all Hedging Liability and Bank Product Obligations have been paid in full. If at any time any payment of the principal of or interest on any Loan or any Reimbursement Obligation or any other amount payable by the Borrower or other obligor or any Guarantor under the Loan Documents or any agreement relating to Hedging Liability or Bank Product Obligations is rescinded or must be otherwise restored or returned upon the insolvency, bankruptcy, or reorganization of the Borrower or other obligor or of any guarantor, or otherwise, each Guarantor’s obligations under this Section 13 with respect to such payment shall be reinstated at such time as though such payment had become due but had not been made at such time.

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