Common use of Suspension of Payment When Designated Senior Debt in Default Clause in Contracts

Suspension of Payment When Designated Senior Debt in Default. (a) Unless Section 1402 shall be applicable, upon the occurrence and during the continuance of any default in the payment of any Designated Senior Debt (whether upon maturity, mandatory prepayment, acceleration or otherwise) beyond any applicable grace period (a “Payment Default”), no payment (other than amounts previously set aside with the Trustee or payments previously made, in either case, pursuant to Section 402 or 403 of this Indenture) or distribution of any assets of the Company or any Subsidiary of any kind or character (excluding Permitted Junior Payments) may be made by the Company or any Subsidiary on account of the Indenture Obligations, or on account of the purchase, redemption, or other acquisition of or in respect of, the Indenture Obligations unless and until such Payment Default shall have been cured or waived or shall have ceased to exist or such Designated Senior Debt shall have been discharged or paid in full in cash or as otherwise agreed to by the holders of Designated Senior Debt, after which the Company shall (subject to the other provisions of this Article Fourteen) resume making any and all required payments in respect of the Indenture Obligations, including any missed payments.

Suspension of Payment When Designated Senior Debt in Default. (a) Unless Section 1402 13.2 shall be applicable, upon the occurrence and during the continuance of any default in the payment of any Designated Senior Debt (whether upon maturity, mandatory prepayment, acceleration or otherwise) beyond any applicable grace period (a “Payment Default”), no payment (other than amounts previously set aside with the Trustee or payments previously made, in either case, pursuant to Section 402 15.2 or 403 15.3 of this Indenture) or distribution of any assets of the Company or any Subsidiary of any kind or character (excluding Permitted Junior Payments) may be made by the Company or any Subsidiary on account of the Indenture Obligations, or on account of the purchase, redemption, or other acquisition of or in respect of, the Indenture Obligations unless and until such Payment Default shall have been cured or waived or shall have ceased to exist or such Designated Senior Debt shall have been discharged or paid in full in cash or as otherwise agreed to by the holders of Designated Senior Debt, after which the Company shall (subject to the other provisions of this Article FourteenThirteen) resume making any and all required payments in respect of the Indenture Obligations, including any missed payments.

Suspension of Payment When Designated Senior Debt in Default. (a) Unless a)Unless Section 1402 13.2 shall be applicable, upon the occurrence and during the continuance of any default in the payment of any Designated Senior Debt (whether upon maturity, mandatory prepayment, acceleration or otherwise) beyond any applicable grace period (a “Payment Default”), no payment (other than amounts previously set aside with the Trustee or payments previously made, in either case, pursuant to Section 402 15.2 or 403 15.3 of this Indenture) or distribution of any assets of the Company or any Subsidiary of any kind or character (excluding Permitted Junior Payments) may be made by the Company or any Subsidiary on account of the Indenture Obligations, or on account of the purchase, redemption, defeasance or other acquisition of or in respect of, of the Indenture Obligations Obligations, unless and until such Payment Default shall have been cured or waived or shall have ceased to exist or such Designated Senior Debt shall have been discharged or paid in full in cash or as otherwise agreed to by the holders of Designated Senior Debt, after which the Company shall (subject to the other provisions of this Article FourteenThirteen) resume making any and all required payments in respect of the Indenture Obligations, including any missed payments.

Suspension of Payment When Designated Senior Debt in Default. (a) Unless Section 1402 11.02 shall be applicable, upon the occurrence and during the continuance of any default in the payment of any Designated Senior Debt (whether upon maturity, mandatory prepayment, acceleration or otherwise) beyond any applicable grace period (a “"Payment Default”"), no payment (other than amounts previously set aside with the Trustee or payments previously made, in either case, pursuant to Section 402 or 403 9.01 of this Indenture) or distribution of any assets of the Company or any Subsidiary thereof of any kind or character (excluding Permitted Junior Payments) may be made by the Company or any Subsidiary thereof on account of the Indenture Obligations, or on account of the purchase, redemption, redemption or other acquisition of or in respect of, the Indenture Obligations unless and until such Payment Default shall have been cured or waived or shall have ceased to exist or such Designated Senior Debt shall have been discharged or paid in full in cash or as otherwise agreed to by the holders of Designated Senior Debt, after which the Company shall (subject to the other provisions of this Article Fourteen11) resume making any and all required payments in respect of the Indenture Obligations, including any missed payments.

Suspension of Payment When Designated Senior Debt in Default. (a) Unless a)Unless Section 1402 13.2 shall be applicable, upon the occurrence and during the continuance of any default in the payment of any Designated Senior Debt (whether upon maturity, mandatory prepayment, acceleration or otherwise) beyond any applicable grace period (a “Payment Default”), no payment (other than amounts previously set aside with the Trustee or payments previously made, in either case, pursuant to Section 402 15.2 or 403 15.3 ​ of this Indenture) or distribution of any assets of the Company or any Subsidiary of any kind or character (excluding Permitted Junior Payments) may be made by the Company or any Subsidiary on account of the Indenture Obligations, or on account of the purchase, redemption, defeasance or other acquisition of or in respect of, of the Indenture Obligations Obligations, unless and until such Payment Default shall have been cured or waived or shall have ceased to exist or such Designated Senior Debt shall have been discharged or paid in full in cash or as otherwise agreed to by the holders of Designated Senior Debt, after which the Company shall (subject to the other provisions of this Article FourteenThirteen) resume making any and all required payments in respect of the Indenture Obligations, including any missed payments.

Suspension of Payment When Designated Senior Debt in Default. (a) Unless Section 1402 11.02 shall be applicable, upon the occurrence and during the continuance of any default in the payment of any Designated Senior Debt (whether upon maturity, mandatory prepayment, acceleration or otherwise) beyond any applicable grace period (a “Payment Default”), no payment (other than amounts previously set aside with the Trustee or payments previously made, in either case, pursuant to Section 402 or 403 9.01 of this Indenture) or distribution of any assets of the Company or of any Subsidiary of the assets of the Company’s Subsidiaries of any kind or character (excluding Permitted Junior Payments) may be made by the Company or any Subsidiary on account of the Indenture Obligations, or on account of the purchase, redemption, or other acquisition of or in respect of, the Indenture Obligations unless and until such Payment Default shall have been cured or waived or shall have ceased to exist or such Designated Senior Debt shall have been discharged or paid in full in cash or as otherwise agreed to by the holders of Designated Senior Debt, after which the Company shall (subject to the other provisions of this Article Fourteen11) resume making any and all required payments in respect of the Indenture Obligations, including any missed payments.