Common use of No Payment on Securities in Certain Circumstances Clause in Contracts

No Payment on Securities in Certain Circumstances. (a) No payment (including any payment which may be payable to any Holder by reason of the subordination of any other indebtedness or other obligations to, or guarantee of, the Securities) or distribution (by set-off or otherwise) shall be made by or on behalf of the Company or a Guarantor, as applicable, on account of the Securities, including the principal of, premium, if any, or interest on the Securities (including any repurchases of Securities) or any other amounts with respect thereto or on account of the redemption provisions of the Securities for cash or property (other than Junior Securities), (i) upon the maturity of any Senior Debt of the Company or such Guarantor by lapse of time, acceleration (unless waived) or otherwise, unless and until all principal of, premium, if any, and the interest on, and all other amounts with respect to, such Senior Debt shall first be paid in full in Cash or otherwise to the extent each of the holders of Senior Debt accept satisfaction of amounts due to such holder by settlement in other than Cash, or (ii) in the event of default in payment of any principal of, or premium, if any, or interest on, or any other amounts with respect to, Senior Debt of the Company or such Guarantor when the same becomes due and payable, whether at maturity or at a date fixed for prepayment or by declaration or otherwise (each of the foregoing, a "Payment Default") unless and until such Payment Default has been cured or waived or otherwise has ceased to exist.

No Payment on Securities in Certain Circumstances. (a) No payment (including any payment which may be payable to any Holder by reason of the subordination of any other indebtedness or other obligations to, or guarantee of, the Securities) or distribution (by set-off or otherwise) shall be made by or on behalf of the Company or a Guarantor, as applicable, on account of any Obligation in respect of the Securities, including the principal of, premium, if any, or interest or Liquidated Damages on the Securities (including any repurchases of Securities) or any other amounts with respect thereto ), or on account of the redemption provisions of the Securities Securities, for cash or property (other than Junior Securities), (i) upon the maturity of any Senior Debt of the Company or such Guarantor by lapse of time, acceleration (unless waived) or otherwise, unless and until all principal of, premium, if any, and the interest on, and all other amounts with respect to, on such Senior Debt shall are first be paid in full in cash or Cash Equivalents (or such payment is duly provided for) or otherwise to the extent each of the holders of Senior Debt accept satisfaction of amounts due to such holder by settlement in other than Cashcash or Cash Equivalents, or (ii) in the event of default in the payment of any principal of, or premium, if any, or interest on, or any other amounts with respect to, on Senior Debt of the Company or such Guarantor when the same it becomes due and payable, whether at maturity maturity, or at a date fixed for prepayment or by declaration or otherwise (each of the foregoing, a "Payment Default") ), unless and until such Payment Default has been cured or waived or otherwise has ceased to exist.

No Payment on Securities in Certain Circumstances. (a) No payment (including any payment which may be payable to any Holder by reason of the subordination of any other indebtedness or other obligations to, or guarantee of, the Securities) or distribution (by set-off or otherwise) shall be made by or on behalf of the Company or a Guarantor, as applicable, on account of any obligation or, to the extent the subordination thereof is permitted by applicable law, claim in respect of the Securities, including the principal Principal of, premium, if any, or interest on the Securities Securities, or to redeem (or make a deposit in redemption of), defease (other than payments made by the Trustee pursuant to Article 8 with respect to a defeasance permitted by this Indenture, including any repurchases of Securitiesthe subordination provisions herein) or acquire any other amounts with respect thereto or on account of the redemption provisions of the Securities for cash cash, property or property (other than Junior Securities)securities, (i) upon the maturity of the Designated Senior Indebtedness or any other Senior Debt Indebtedness with an aggregate principal amount in excess of the Company or such Guarantor $1 million by lapse of time, acceleration (unless waived) or otherwise, unless and until all principal Principal of, premium, if any, and the interest on, on such Senior Indebtedness and all other amounts with obligations in respect to, such Senior Debt thereof shall first be paid in full in Cash cash or otherwise to the extent each of the holders of Senior Debt accept satisfaction of amounts due to cash equivalents or such holder payment is duly provided for, or unless and until any such maturity by settlement in other than Cash, acceleration has been rescinded or waived or (ii) in the event of default in payment of any principal Principal of, or premium, if any, or interest on, on or any other amounts with amount payable in respect to, Senior Debt of the Company Designated Senior Indebtedness or such Guarantor any other Senior Indebtedness with an aggregate principal amount in excess of $1 million when the same it becomes due and payable, whether at maturity or at a date fixed for prepayment or by declaration or otherwise (each of the foregoingotherwise, a "Payment Default") unless and until such Payment Default payment default has been cured or waived or has otherwise has ceased to exist.

No Payment on Securities in Certain Circumstances. (a) No payment (including any payment which may be payable to any Holder by reason of the subordination of any other indebtedness or other obligations to, or guarantee of, the Securities) or distribution (by set-off or otherwise) shall be made by or on behalf of the Company or a Guarantor, as applicable, Guarantor on account of the Securities, including the principal of, premium, if any, interest on, or interest on Liquidated Damages or any other obligations under or with respect to, the Securities, or to acquire any of the Securities (including any repurchases of Securities at the option of the Holder) for cash or property (other than Guarantor Junior Securities) or any other amounts with respect thereto ), or on account of the redemption provisions of the Securities for cash or property (other than Junior Securitiescollectively, the "Guarantor Subordinated Obligations"), (i) upon the maturity of any Guarantor Senior Debt of the Company or such Guarantor by lapse of time, acceleration (unless waived) or otherwise, unless and until all principal of, premium, if any, and the interest on, and fees, charges, expenses, indemnifications and all other amounts with payable in respect to, such of Guarantor Senior Debt shall are first be paid in full in Cash or otherwise to the extent each of the holders of Senior Debt accept satisfaction of amounts due to such holder by settlement in other than Cashfull, or (ii) in the event of default in the payment of any principal of, or premium, if any, or interest on, or any other amounts with in respect to, of Guarantor Senior Debt of the Company or such Guarantor when the same it becomes due and payable, whether at maturity or at a date fixed for prepayment or by declaration or otherwise (each of the foregoingcollectively, a "Guarantor Payment Default") ), unless and until such Guarantor Payment Default has been cured or waived or otherwise has ceased to exist.

No Payment on Securities in Certain Circumstances. (a) No payment (including any payment which may be payable to any Holder by reason of the subordination of any other indebtedness or other obligations to, or guarantee of, the Securities) or distribution (by set-off or otherwise) shall be made by or on behalf of the Company or a Guarantor, as applicable, on account of the Securities, including the principal of, premium, if any, or interest or Liquidated Damages on the Securities (including any repurchases of Securities) ), or on account of any other amounts with obligation for the payment of money due in respect thereto of the Securities, or on account of the redemption provisions of the Securities Securities, for cash or property (other than Junior SecuritiesSecurities issued in connection with a reorganization pursuant to the bankruptcy laws of any jurisdiction), (i) upon the maturity of any Senior Debt of the Company or such Guarantor by lapse of time, acceleration (unless waived) or otherwise, unless and until all principal of, premium, if any, and the interest on, (and all other amounts with respect toto the New Credit Facility, any other obligations) on such Senior Debt shall are first be paid in full in cash or Cash Equivalents (or, with respect to Senior Debt other than the New Credit Facility, such payment is duly provided for) or otherwise to the extent each of the holders of Senior Debt accept satisfaction of amounts due to such holder by settlement in other than Cashcash or Cash Equivalents, or (ii) in the event of default in the payment of any principal of, or premium, if any, or interest on, or any other amounts with respect to, on Senior Debt of the Company or such Guarantor when the same it becomes due and payable, whether at maturity maturity, a scheduled payment date, or at a date fixed for prepayment or by declaration or otherwise (each of the foregoing, a "Payment Default") ), unless and until such Payment Default has been cured or waived or otherwise has ceased to exist.

No Payment on Securities in Certain Circumstances. (a) No payment (including any payment which may be payable to any Holder by reason of the subordination of any other indebtedness or other obligations to, or guarantee of, the Securities) or distribution (by set-off or otherwise) shall be made by or on behalf of the Company or a Guarantor, as applicable, on account of any obligation or, to the extent the subordination thereof is permitted by applicable law, claim in respect of the Securities, including the principal Principal of, premium, if any, or interest on the Securities Securities, or to redeem (or make a deposit in redemption of), defease (other than payments made by the Trustee pursuant to Article Eight with respect to a defeasance permitted by this Indenture, including any repurchases of Securitiesthe subordination provisions herein) or acquire any other amounts with respect thereto or on account of the redemption provisions of the Securities for cash cash, property or property (other than Junior Securities)securities, (i) upon the maturity of the Designated Senior Indebtedness or any other Senior Debt Indebtedness with an aggregate principal amount in excess of the Company or such Guarantor $1 million by lapse of time, acceleration (unless waived) or otherwise, unless and until all principal Principal of, premium, if any, and the interest on, on such Senior Indebtedness and all other amounts with obligations in respect to, such Senior Debt thereof shall first be paid in full in Cash cash or otherwise to the extent each of the holders of Senior Debt accept satisfaction of amounts due to cash equivalents or such holder payment is duly provided for, or unless and until any such maturity by settlement in other than Cash, acceleration has been rescinded or waived or (ii) in the event of default in payment of any principal Principal of, or premium, if any, or interest on, on or any other amounts with amount payable in respect to, Senior Debt of the Company Designated Senior Indebtedness or such Guarantor any other Senior Indebtedness with an aggregate principal amount in excess of $1 million when the same it becomes due and payable, whether at maturity or at a date fixed for prepayment or by declaration or otherwise (each of the foregoingotherwise, a "Payment Default") unless and until such Payment Default payment default has been cured or waived or has otherwise has ceased to exist.

No Payment on Securities in Certain Circumstances. (a) No payment (including any payment which may be payable to any Holder by reason of the subordination of any other indebtedness or other obligations to, or guarantee of, the Securities) or distribution (by set-off or otherwise) shall be made by or on behalf of the Company Company, the Parent or a Guarantor, as applicable, on account of the Securities, including the principal of, premium, if any, or interest or Liquidated Damages on the Securities (including any repurchases of Securities) ), or on account of any other amounts with obligation for the payment of money due in respect thereto of the Securities, or on account of the redemption provisions of the Securities Securities, for cash or property (other than Junior Securities), (i) upon the maturity of any Senior Debt of the Company Company, the Parent or such Guarantor by lapse of time, acceleration (unless waived) or otherwise, unless and until all principal of, premium, if any, and the interest on, and all on or other amounts with owing in respect to, of such Senior Debt shall are first be paid in full in cash or Cash Equivalents (or, such payment is duly provided for in accordance with the terms thereof) or otherwise to the extent each of the holders of Senior Debt accept satisfaction of amounts due to such holder by settlement in other than Cashcash or Cash Equivalents, or (ii) in the event of default in the payment of any principal of, or premium, if any, or interest on, or any other amounts with respect to, on Senior Debt of the Company Company, the Parent or such Guarantor when the same it becomes due and payable, whether at maturity maturity, a scheduled payment date, or at a date fixed for prepayment or by declaration of acceleration or otherwise (each of the foregoing, a "Payment Default") ), unless and until such Payment Default has been cured or waived or otherwise has ceased to exist.

No Payment on Securities in Certain Circumstances. (a) No payment (including any payment which may be payable to any Holder by reason of the subordination of any other indebtedness or other obligations to, or guarantee of, the Securities) or distribution (by set-off or otherwise) shall be made by or on behalf of the Company or a Guarantor, as applicable, on account of the Securities, including the principal of, premium, if any, interest on, or interest on Additional Amounts with respect to, the Securities, or to acquire any of the Securities (including any repurchases redemptions of Securities) or any other amounts with respect thereto or on account Securities at the option of the redemption provisions of the Securities Holder) for cash or property (other than Junior Securities), or on account of the redemp- tion provisions of the Securities, (i) upon the maturity of any Senior Debt Indebtedness of the Company or such Guarantor by lapse of time, acceleration (unless waived) or otherwise, unless and until all principal of, premium, if any, and the interest on, on such Senior Indebtedness and all other amounts with Obligations in respect to, such Senior Debt shall thereof are first be paid in full in Cash (or otherwise to the extent each of the holders of Senior Debt accept satisfaction of amounts due to such holder by settlement in other than Cashpayment is duly pro- vided for), or (ii) in the event of default in the payment of any principal of, or premium, if any, or interest on, or any other amounts with Obligation in respect toof, any Senior Debt Indebtedness of the Company or such Guarantor when the same it becomes due and payable, whether at maturity or at a date fixed for prepayment or by declaration or otherwise (each of the foregoing, a "Payment Default") ), unless and until such Payment Default has been cured or waived by the holders of such Senior Indebtedness or otherwise has ceased to exist.

No Payment on Securities in Certain Circumstances. (a) No payment (including any payment which may be payable to any Holder by reason of the subordination of any other indebtedness or other obligations to, or guarantee of, the Securities) or distribution (by set-off setoff or otherwise) shall may be made by or on behalf of the Company Company, directly or a Guarantor, as applicableindirectly through any Subsidiary, on account of the Securities, including the principal of, premium, if any, interest on, or interest on Liquidated Damages or any other obligations under or with respect to, the Securities, or to acquire, redeem or defease any of the Securities (including any repurchases of Securities at the option of the Holder) for cash, securities or property (other than Junior Securities) or any other amounts with respect thereto ), or on account of the redemption provisions of the Securities for cash or property (other than Junior Securitiescollectively, the "Subordinated Obligations"), (i) upon the maturity of any Senior Debt of the Company or such Guarantor Indebtedness by lapse of time, acceleration (unless waived) or otherwise, unless and until all principal of, premium, if any, and the interest on, and fees, charges, expenses, indemnifications and all other amounts with payable in respect to, such of Senior Debt shall Indebtedness are first be paid in full in Cash or otherwise to the extent each of the holders of Senior Debt accept satisfaction of amounts due to such holder by settlement in other than Cashcash, or (ii) in the event of default in the payment of any principal of, or premium, if any, or interest on, or in respect of any other amounts with respect to, Designated Senior Debt of the Company or such Guarantor Indebtedness when the same it becomes due and payable, whether at maturity or at a date fixed for prepayment or by declaration or otherwise (each of the foregoingcollectively, a "Payment Default") ), unless and until such Payment Default has been cured or waived or otherwise has ceased to exist.