Waiver of Events of Default. The Holders of a Majority in Liquidation Amount of the Preferred Securities may, by vote, on behalf of the Holders of all of the Preferred Securities, waive any past Event of Default and its consequences. Upon such waiver, any such Event of Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Preferred Securities Guarantee, but no such waiver shall extend to any subsequent or other default or Event of Default or impair any right consequent thereon.
Appears in 19 contracts
Samples: Preferred Securities Guarantee Agreement (Valley National Bancorp), Preferred Securities Guarantee Agreement (Valley National Bancorp), Preferred Securities Guarantee Agreement (New York Community Bancorp Inc)
Waiver of Events of Default. The Holders of a Majority in Liquidation Amount of the Preferred Capital Securities may, by vote, on behalf of the Holders of all of the Preferred Capital Securities, waive any past Event of Default and its consequences. Upon such waiver, any such Event of Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Preferred Capital Securities Guarantee, but no such waiver shall extend to any subsequent or other default or Event of Default or impair any right consequent thereon.
Appears in 7 contracts
Samples: Securities Guarantee Agreement (Matrix Bancorp Inc), Westbank Capital Trust I, NHTB Capital Trust I
Waiver of Events of Default. The Holders of a Majority in Liquidation Amount of the Preferred Securities may, by vote, on behalf of the Holders of all of the Preferred Securities, waive any past Event of Default and its consequences. Upon such waiver, any such Event of Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Preferred Securities Guarantee, but no such waiver shall extend to any subsequent or other default or Event of Default or impair any right consequent thereon.
Appears in 1 contract
Samples: Guarantee Agreement (New York Community Bancorp Inc)
