Common use of Waiver of Defaults and Events of Default Clause in Contracts

Waiver of Defaults and Events of Default. Subject to Section 9.2, the Holders of a majority in principal amount of the Securities then outstanding, on behalf of all the Securityholders, by written notice to the Trustee may waive a Default or Event of Default with respect to the Securities and its consequences. When a Default or Event of Default is waived, it is considered to be cured and ceases to exist; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereon.

Appears in 5 contracts

Samples: Indenture (Alternative Living Services Inc), Indenture (Rent Way Inc), American Retirement Corp

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Waiver of Defaults and Events of Default. Subject to Section 9.29.02, the Holders of a majority in principal amount of the Securities then outstanding, on behalf of the Holders of all of the SecurityholdersSecurities, by written notice to the Trustee may waive a Default or Event of Default with respect to the Securities and its consequences. When a Default or Event of Default is waived, it is considered to be cured and ceases to exist; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereon.

Appears in 5 contracts

Samples: Sizeler Property Investors Inc, Sizeler Property Investors Inc, Sizeler Property Investors Inc

Waiver of Defaults and Events of Default. Subject to Section 9.29.02, the Holders of a majority in principal amount of the Securities then outstandingOutstanding, on behalf of all the SecurityholdersHolders of the Securities, by written notice to the Trustee may waive a Default or Event of Default with respect to the Securities and its consequences. When a Default or Event of Default is waivedwaived with respect to the Securities, it is considered to be cured and ceases to existceases; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereon.

Appears in 1 contract

Samples: Indenture (National Healthcare Corp)

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Waiver of Defaults and Events of Default. Subject to Section 9.2, the Holders of a majority in principal amount of the Securities then outstanding, on behalf of the Holders of all of the SecurityholdersSecurities, by written notice to the Trustee may waive a Default or Event of Default with respect to the Securities and its consequences. When a Default or Event of Default is waived, it is considered to be cured and ceases to exist; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereon.

Appears in 1 contract

Samples: Lexington Corporate Properties Inc

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