Common use of Waiver of Existing Defaults Clause in Contracts

Waiver of Existing Defaults. A Majority in Interest by notice to the Trustee on behalf of all Holders of the Equipment Notes may waive any past default hereunder and its consequences, except that the consent of each Holder of an Equipment Note affected thereby shall be required to waive a default (i) in the payment of the principal of, premium, if any, or interest on any Equipment Note or (ii) in respect of a covenant or provision hereof which under Article VIII hereof cannot be modified or amended without the consent of the Holder of each Equipment Note affected. Upon any such waiver, such default shall cease to exist, and any Indenture Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon.

Waiver of Existing Defaults. A Majority in Interest by notice to the Indenture Trustee on behalf of all Holders holders of the Equipment Notes may waive any past default hereunder and its consequences, except that the consent of each Holder of an Equipment Note affected thereby shall be required to waive a default default: (i) in the payment of the principal of, premiumMake-Whole Amount, if any, or interest on any Equipment Note Note, or (ii) in respect of a covenant or provision hereof which under Article VIII X hereof cannot be modified or amended without the consent of the Holder holder of each Equipment Note affected. Upon any such waiver, such default shall cease to exist, and any Indenture Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon.

Waiver of Existing Defaults. A Majority in Interest Interest, by --------------------------- notice to the Indenture Trustee on behalf of all Holders holders of the Equipment Notes Notes, may waive any past default hereunder and its consequences, except that the consent of each Holder of an Equipment Note affected thereby shall be required to waive a default default: (i) in the payment of the principal of, premiumPremium, if any, or interest on any Equipment Note Note, or (ii) in respect of a covenant or provision hereof which under Article VIII IX hereof cannot be modified or amended without the consent of the Holder holder of each Equipment Note affected. Upon any such waiver, such default shall cease to exist, and any Indenture Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon.

Waiver of Existing Defaults. A Majority in Interest by notice to the Indenture Trustee on behalf of all Holders holders of the Equipment Notes may waive any past default hereunder and its consequences, except that the consent of each Holder of an Equipment Note affected thereby shall be required to waive a default default: (i) in the payment of the principal of, premium, if any, or interest on any Equipment Note Note, or (ii) in respect of a covenant or provision hereof which under Article VIII IX hereof cannot be modified or amended without the consent of the Holder holder of each Equipment Note affected. Upon any such waiver, such default shall cease to exist, and any Indenture Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon.

Waiver of Existing Defaults. A Majority in Interest by --------------------------- notice to the Indenture Trustee on behalf of all Holders holders of the Equipment Notes may waive any past default hereunder and its consequences, except that the consent of each Holder of an Equipment Note affected thereby shall be required to waive a default default: (i) in the payment of the principal of, premium, if any, or interest on any Equipment Note Note, or (ii) in respect of a covenant or provision hereof which under Article VIII IX hereof cannot be modified or amended without the consent of the Holder holder of each Equipment Note affected. Upon any such waiver, such default shall cease to exist, and any Indenture Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon.

Waiver of Existing Defaults. A Majority in Interest Interest, by --------------------------- notice to the Indenture Trustee on behalf of all Holders holders of the Equipment Notes Notes, may waive any past default hereunder and its consequences, except that the consent of each Holder of an Equipment Note affected thereby shall be required to waive a default default: (i) in the payment of the principal of, premiumTrust Indenture and Security Agreement (GARC II 98-A) Premium, if any, or interest on any Equipment Note Note, or (ii) in respect of a covenant or provision hereof which under Article VIII IX hereof cannot be modified or amended without the consent of the Holder holder of each Equipment Note affected. Upon any such waiver, such default shall cease to exist, and any Indenture Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon.