Common use of Suspension of Payment When Senior Indebtedness in Default Clause in Contracts

Suspension of Payment When Senior Indebtedness in Default. (a) Unless Section 12.02 shall be applicable, upon the occurrence and during the continuance of a Payment Default beyond any applicable grace period on Designated Senior Indebtedness of the Company, no payment or distribution (other than a payment in the form of Permitted Junior Securities or from the trust described in Section 9.01 or Section 9.04) of any assets or securities of the Company of any kind or character (including, without limitation, cash, property and any payment or distribution which may be payable or deliverable by reason of the payment of any other Indebtedness of the Company being subordinated to the payment of the Notes by the Company) shall be made by or on behalf of the Company, including, without limitation, by way of set-off or otherwise, for or on account of any Obligations under the Notes or this Indenture, or for or on account of the purchase, redemption or other acquisition of the Notes, commencing on the date of receipt by the Trustee of a written notice from the representative of the holders of such Designated Senior Indebtedness (the "Representative") of the occurrence of a Payment Default, and in any such event, such prohibition shall continue until such Payment Default is cured, or otherwise ceases to exist. At such time as the prohibition set forth in the preceding sentence shall no longer be in effect, subject to the provisions of the following paragraph (b), the Company shall resume making any and all required payments in respect of the Notes, including any missed payments.

Suspension of Payment When Senior Indebtedness in Default. (a) Unless Section 12.02 shall be applicable, upon the occurrence and during the continuance of a Payment Default beyond any applicable grace period on Designated Senior Indebtedness of the CompanyIssuers, no payment or distribution (other than a payment in the form of Permitted Junior Securities or from the trust described in Section 9.01 or Section 9.04) of any assets or securities of the Company Issuers of any kind or character (including, without limitation, cash, property and any payment or distribution which may be payable or deliverable by reason of the payment of any other Indebtedness of the Company Issuers being subordinated to the payment of the Notes by the CompanyIssuers) shall be made by or on behalf of the CompanyIssuers, including, without limitation, by way of set-off or otherwise, for or on account of any Obligations under the Notes or this Indenture, or for or on account of the purchase, redemption or other acquisition of the Notes, commencing on the date of receipt by the Trustee of a written notice from the representative of the holders of such Designated Senior Indebtedness (the "“Representative"”) of the occurrence of a Payment Default, and in any such event, such prohibition shall continue until such Payment Default is cured, or otherwise ceases to exist. At such time as the prohibition set forth in the preceding sentence shall no longer be in effect, subject to the provisions of the following paragraph (b), the Company Issuers shall resume making any and all required payments in respect of the Notes, including any missed payments.

Suspension of Payment When Senior Indebtedness in Default. (a) Unless Section 12.02 7.02 hereof shall be applicable, upon after the occurrence and during the continuance of a Payment Default beyond any applicable grace period on Designated Senior Indebtedness of the CompanyIndebtedness, no payment or distribution (other than a payment in the form of Permitted Junior Securities or from the trust described in Section 9.01 or Section 9.04) of any assets or securities of the Company of any kind or character (including, without limitation, cash, property and any payment or distribution which may be payable or deliverable by reason of the payment of any other Indebtedness of the Company being subordinated to the payment of the Notes by the Company) shall may be made by or on behalf of the Company or any Restricted Subsidiary of the Company, including, without limitation, by way of set-off or otherwise, for or on account of any Obligations under the Notes or this IndentureNotes, or for or on account of the purchase, redemption or other acquisition of the Notes, and neither the Trustee nor any holder or owner of any Notes shall take or receive from the Company or any Restricted Subsidiary of the Company, directly or indirectly in any manner, payment in respect of all or any portion of Notes commencing on the date of receipt by the Trustee of a written notice from the representative of the holders of such Designated Senior Indebtedness (the "Representative") of the occurrence of a such Payment Default, and in any such event, such prohibition shall continue until such Payment Default is cured, waived in writing or otherwise ceases to exist. At such time as the prohibition set forth in the preceding sentence shall no longer be in effect, subject to the provisions of the preceding and following paragraph (b)paragraphs, the Company shall resume making any and all required payments in respect of the Notes, including any missed payments.

Suspension of Payment When Senior Indebtedness in Default. (a) Unless Section 12.02 15.02 shall be applicable, upon the occurrence and during the continuance of a Payment Default beyond any applicable grace period on Designated Senior Indebtedness of the Company, no payment or distribution (other than a payment in the form of Permitted Junior Securities or from the trust described in Section 9.01 or Section 9.04Securities) of any assets or securities of the Company of any kind or character (including, without limitation, cash, property and any payment or distribution which may be payable or deliverable by reason of the payment of any other Indebtedness of the Company being subordinated to the payment of the Notes by the Company) shall be made by or on behalf of the Company, including, without limitation, by way of set-off or otherwise, for or on account of any Obligations under the Notes or this IndentureAgreement, or for or on account of the purchase, redemption or other acquisition of the Notes, commencing on the date of receipt by the Trustee Company and each Holder of a written notice from the representative of the holders of such Designated Senior Indebtedness (the "Representative") Credit Agreement Agent of the occurrence of a Payment Default, and in any such event, such prohibition shall continue until such Payment Default is cured, or otherwise ceases to exist. At such time as the prohibition set forth in the preceding sentence shall no longer be in effect, subject to the provisions of the following paragraph (b), the Company shall resume making any and all required payments in respect of the Notes, including any missed payments.

Suspension of Payment When Senior Indebtedness in Default. (a) Unless Section 12.02 11.02 hereof shall be applicable, upon after the occurrence and during the continuance of a Payment Default beyond any applicable grace period on Designated Senior Indebtedness of the Company, no payment or distribution (other than a payment in the form of Permitted Junior Securities or distribution from the trust described in Section 9.01 or Section 9.04) of any assets or securities of the Company of any kind or character (including, without limitation, cash, property Property and any payment or distribution which may be payable or deliverable by reason of the payment of any other Indebtedness of the Company any Issuer being subordinated to the payment of the Notes by the Companysuch Issuer) shall may be made by or on behalf of the Companysuch Issuer or any Subsidiary of such Issuer, including, without limitation, by way of set-off or otherwise, for or on account of the Notes or of any Obligations under the Notes Notes, the Registration Rights Agreement or this Indenture, or for or on account of the purchase, redemption or other acquisition of any Notes, and neither the Trustee nor any Holder shall take or receive from such Issuer or any Subsidiary of such Issuer, directly or indirectly in any manner, payment in respect of all or any portion of Notes or of any Obligations under the Notes, the Registration Rights Agreement or this Indenture, or for or on account of the purchase, redemption or other acquisition of any Notes commencing on the date of receipt by the Trustee of a written notice from the representative representa-tive of the holders of such Designated Senior Indebtedness (the "Representative") of the occurrence of a Payment Default, and in any such event, such prohibition shall continue until such Payment Default is cured, waived in writing or otherwise ceases to exist. At such time as the prohibition set forth in the preceding sentence shall no longer be in effect, subject to the provisions of the following paragraph (b), the Company such Issuer shall resume making any and all required payments in respect of the Notes, including any missed payments.

Suspension of Payment When Senior Indebtedness in Default. (a) Unless Section 12.02 shall be applicable, upon the occurrence and during the continuance of a Payment Default beyond any applicable grace period on Designated Senior Indebtedness of the Company, no payment or distribution (other than a payment or distribution in the form of Permitted Junior Securities or from the trust described in Section 9.01 or Section 9.04) of any assets or securities of the Company of any kind or character (including, without limitation, cash, property Property and any payment or distribution which may be payable or deliverable by reason of the payment of any other Indebtedness of the Company being subordinated to the payment of the Notes by the Company) shall be made by the Company or on behalf any Restricted Subsidiary of the Company, including, without limitation, by way of set-off or otherwise, for or on account of any Obligations obligations under the Notes or this Indenture, or for or on account of the purchase, redemption or other acquisition of the Notes, and neither the Trustee nor any Holder shall take or receive from the Company, directly or indirectly in any manner, payment in respect of all or any portion of Notes commencing on the date of receipt by the Trustee of a written notice from the representative of the holders of such Designated Senior Indebtedness (the "“Representative"”) to the Trustee of written notice of the occurrence of a Payment Default, and in any such event, such prohibition shall continue until such Payment Default is cured, waived in writing or otherwise ceases to exist. At such time as the prohibition set forth in the preceding sentence shall no longer be in effect, subject to the provisions of the following paragraph (b), the Company shall resume making any and all required payments in respect of the Notes, including any missed payments.

Suspension of Payment When Senior Indebtedness in Default. (a) Unless Section 12.02 hereof shall be applicable, upon the occurrence and during the continuance of a Payment Default beyond any applicable grace period on Designated Senior Indebtedness of the Company, no payment or distribution (other than a payment in the form of Permitted Junior Securities or distribution from the trust described in Section 9.01 or Section 9.04) of any assets or securities of the Company of any kind or character (including, without limitation, cash, property and any payment or distribution which may be payable or deliverable by reason of the payment of any other Indebtedness of the Company being subordinated to the payment of the Notes by the Company) shall may be made by or on behalf of the Company or any Restricted Subsidiary of the Company, including, without limitation, by way of set-off or otherwise, for or on account of any Obligations under the Notes or this Indenture, or for or on account of the purchase, redemption or other acquisition of the Notes, and neither the Trustee nor any Holder shall take or receive from the Company, directly or indirectly in any manner, payment in respect of all or any portion of Notes commencing on the date of receipt by the Trustee of a written notice from the representative of the holders of such Designated Senior Indebtedness (the "RepresentativeREPRESENTATIVE") to the Trustee of written notice of the occurrence of a Payment Default, and in any such event, such prohibition shall continue until such Payment Default is cured, waived in writing or otherwise ceases to exist. At such time as the prohibition set forth in the preceding sentence shall no longer be in effect, subject to the provisions of the following paragraph (b), the Company shall resume making any and all required payments in respect of the Notes, including any missed payments.

Suspension of Payment When Senior Indebtedness in Default. (a) Unless Section 12.02 10.02 hereof shall be applicable, upon after the occurrence and during the continuance of a Payment Default beyond any applicable grace period on Designated Senior Indebtedness of the CompanyIndebtedness, no payment or distribution (other than a payment in the form of Permitted Junior Securities or from the trust described in Section 9.01 or Section 9.04) of any assets or securities of the Company of any kind or character (including, without limitation, cash, property and any payment or distribution which may be payable or deliverable by reason of the payment of any other Indebtedness of the Company being subordinated to the payment of the Notes by the Company) shall may be made by or on behalf of the Company or any Subsidiary of the Company, including, without limitation, by way of set-off or otherwise, for or on account of any Obligations under the Notes or this IndentureNotes, or for or on account of the purchase, redemption or other acquisition of the any Notes, and neither the Trustee nor any holder or owner of any Notes shall take or receive from the Company or any Subsidiary of the Company, directly or indirectly in any manner, payment in respect of all or any portion of Notes commencing on the date of receipt by the Trustee of a written notice from the representative of the holders of such Designated Senior Indebtedness (the "Representative") of the occurrence of a such Payment Default, and in any such event, such prohibition shall continue until such Payment Default is cured, waived in writing or otherwise ceases to exist. At such time as the prohibition set forth in the preceding sentence shall no longer be in effect, subject to the provisions of the following paragraph (b), the Company shall resume making any and all required payments in respect of the Notes, including any missed payments.

Suspension of Payment When Senior Indebtedness in Default. (a) Unless Section 12.02 11.02 hereof shall be applicable, upon after the occurrence and during the continuance of a Payment Default beyond any applicable grace period on Designated Senior Indebtedness of the Company, no payment or distribution (other than a payment or distribution in the form of Permitted Junior Securities or from the trust described in Section 9.01 or Section 9.04Securities) of any assets or securities of the Company or any Subsidiary of any kind or character (including, without limitation, cash, property and any payment or distribution which may be payable or deliverable by reason of the payment of any other Indebtedness of the Company being subordinated to the payment of the Notes by the Company) shall may be made by or on behalf of the CompanyCompany or any Subsidiary, including, without limitation, by way of set-off or otherwise, for or on account of any Obligations under principal of, premium, if any, or interest on the Notes or this IndentureNotes, or for or on account of the purchase, redemption redemption, defeasance or other acquisition of the any Notes, commencing on the date of receipt by and neither the Trustee nor any holder or owner of a written notice any Notes shall take or receive from the representative Company or any Subsidiary, directly or indirectly in any manner, payment in respect of the holders all or any portion of such Designated Senior Indebtedness (the "Representative") of Notes following the occurrence of a Payment Default, and in any such event, such prohibition shall continue until such Payment Default is cured, waived in writing or otherwise ceases to exist. At such time as the prohibition set forth in the preceding sentence shall no longer be in effect, subject to the provisions of the following paragraph (b), the Company shall resume making any and all required payments in respect of the Notes, including any missed payments.

Suspension of Payment When Senior Indebtedness in Default. (a) Unless Section 12.02 hereof shall be applicable, upon the occurrence and during the continuance of a Payment Default beyond any applicable grace period on Designated Senior Indebtedness of the Company, no payment or distribution (other than a payment in the form of Permitted Junior Securities or distribution from the trust described in Section 9.01 or Section 9.04) of any assets or securities of the Company of any kind or character (including, without limitation, cash, property Property and any payment or distribution which may be payable or deliverable by reason of the payment of any other Indebtedness of the Company being subordinated to the payment of the Notes by the Company) shall be made by the Company or on behalf any Restricted Subsidiary of the Company, including, without limitation, by way of set-off or otherwise, for or on account of any Obligations obligations under the Notes or this Indenture, or for or on account of the purchase, redemption or other acquisition of the Notes, and neither the Trustee nor any Holder shall take or receive from the Company, directly or indirectly in any manner, payment in respect of all or any portion of Notes commencing on the date of receipt by the Trustee of a written notice from the representative of the holders of such Designated Senior Indebtedness (the "Representative") to the -------------- Trustee of written notice of the occurrence of a Payment Default, and in any such event, such prohibition shall continue until such Payment Default is cured, waived in writing or otherwise ceases to exist. At such time as the prohibition set forth in the preceding sentence shall no longer be in effect, subject to the provisions of the following paragraph (b), the Company shall resume making any and all required payments in respect of the Notes, including any missed payments.