Senior Debt Default. The Company shall not pay principal of, or interest on, the Notes, and shall not repurchase, redeem or otherwise retire any Notes (collectively, “pay the Notes”) if (a) any principal, premium or interest in respect of any Senior Debt is not paid when due after any applicable grace period or (b) any other default on Senior Debt occurs and the maturity of such Senior Debt is accelerated in accordance with its terms unless, in either case, (i) the default has been cured or waived and any such acceleration has been rescinded or (ii) such Senior Debt has been paid in full; provided, however, that the Company may pay the Notes without regard to the foregoing if the Company receives written notice approving such payment from the Senior Agent. During the continuation of any default (other than a default described in clause (a) or (b) of the preceding sentence) with respect to any Senior Debt pursuant to which the maturity thereof may be accelerated immediately without further notice (except any notice required to effect the acceleration) or the expiration of any applicable grace period, the Company shall not pay the Notes for a period (a “Payment Blockage Period”) commencing upon the receipt by the Company of written notice of such default from the Senior Agent specifying an election to effect a Payment Blockage Period (a “Payment Blockage Notice”) and ending 179 days thereafter. The Payment Blockage Period will end earlier if the Payment Blockage Period is terminated (A) by written notice to the Company from the Senior Agent, (B) because such default is no longer continuing, or (C) because such Senior Debt has been repaid in full. Unless the holders of such Senior Debt or the Senior Agent have accelerated the maturity of such Senior Debt and not rescinded such acceleration, the Company may (unless otherwise prohibited as described in the first sentence of this paragraph) resume payments on the Notes after the end of such Payment Blockage Period. Not more than one Payment Blockage Notice may be given in any consecutive 360-day period, irrespective of the number of defaults with respect to the Senior Debt that have occurred during such period.
Senior Debt Default. In the event that any default shall occur and be continuing with respect to any Senior Debt that permits (or with notice or lapse of time or both, would permit) the holders of such Senior Debt to declare such Senior Debt due and payable prior to the date on which it otherwise would be due and payable, unless payment in full shall have first been made on all principal of, premium, if any, and interest on, and all other amounts due and payable in respect of the Senior Debt, the Borrower shall not make any payment on or with respect to Loans under this Agreement during any period:
Senior Debt Default. (a) In the event and during the continuation of any default in the payment of any Senior Debt when the same becomes due and payable, whether at maturity or at a date fixed for the prepayment or by acceleration or otherwise (a “Payment Default”), then (i) no direct or indirect payment (in cash, property, securities, by set-off or otherwise) shall be made by the Borrowers on account of principal of or interest or premium (if any) on the Subordinated Debt or on account of any mandatory redemption provisions of the Subordinated Debt, or in respect of any retirement, purchase or other acquisition of any of the Subordinated Debt unless and until such Payment Default shall have been cured or waived or shall have ceased to exist and any acceleration of such Senior Debt shall have been rescinded or annulled; and (ii) the Subordinated Debt may not be declared due and payable before its stated maturity unless and until the earlier of the (A) date on which such Payment Default shall have been cured or waived or shall have ceased to exist and any acceleration of such Senior Debt shall have been rescinded or annulled, or (B) 90 days after the occurrence of such Payment Default.
Senior Debt Default. The occurrence of an Event of Default (as defined in the Senior Credit Agreement) or any Event of Default (or its equivalent) under any other Senior Debt.
Senior Debt Default. 13 7.5. Senior Subordinated Notes...........................................................13
Senior Debt Default. 14 Section 4.05. Company's Obligations Unimpaired ...................................... 15 Section 4.06. Subrogation ........................................................... 15 Section 4.07. Subordination Unimpaired .............................................. 15 (i) 3
Senior Debt Default. The Company shall not make any, and the Holders of the Securities shall not accept or receive, payment of principal or interest on, or any amounts in respect of, or purchase or acquire for value (and the Holders of the Securities shall not offer for sale or otherwise cause the Company to purchase or acquire for value) (including, without limitation, on account of the mandatory redemption provisions of the Securities) a Security if, either immediately before or after any such payment is received by a Holder of a Security, an event of default as defined in any indenture, agreement or instrument creating or evidencing Senior Debt shall exist or any event which, with the passage of time or the giving of notice or both, would constitute an event of default as defined in any indenture, agreement or instrument creating or evidencing Senior Debt shall exist. The Company shall give prompt written notice to the Trustee of any default or of any
Senior Debt Default. The Company shall not make any payment of principal or interest on, or purchase or acquire for value, any of the Convertible Notes during the continuance of any default in the payment of principal of or premium or interest on any Senior Debt.
Senior Debt Default. The Company shall not make any, and the Holders of the Securities shall not accept or receive, payment of principal or interest on, or any amounts in respect of, or purchase or acquire for value (and the Holders of the Securities shall not offer for sale or otherwise cause the Company to purchase or acquire for value) (including, without limitation, on account of the mandatory redemption provisions of the Securities) a Security if, either immediately before or after any such payment is received by a Holder of a Security, an event of default as defined in any indenture, agreement or instrument creating or evidencing Senior Debt shall exist or any event which, with the passage of time or the giving of notice or both, would constitute an event of default as defined in any indenture, agreement or instrument creating or evidencing Senior Debt shall exist. The Company shall give prompt written notice to the Trustee of any default or of any event which, with the passage of time or the giving of notice or both, would constitute an event of default, under any Senior Debt or under any agreement pursuant to which Senior Debt may have been issued, but failure to give such notice shall not affect the subordination of the Securities to the Senior Debt provided in this Article Four. Should any payment or distribution be received by a Holder of a Security prior to the payment in full of all Senior Debt and termination of all financing arrangements between the Company and the holders of the Senior Debt, and such payment violates any provision of this Article Four, such Holder shall receive and hold the same in trust for the benefit of the holders of the Senior Debt.
Senior Debt Default. The Company shall not make any payment of principal -------------------- or interest or premium on, or purchase or acquire for value, any of the Series A Debentures during the continuance of any default in the payment of principal of or interest or premium or any other obligation on or under any Senior Debt.
