Suspension of Payment When Senior Indebtedness in Default. (a) Unless Section 11.2 hereof shall be applicable, after the occurrence of a Payment Default no payment or distribution of any assets or securities of the Company or any Restricted 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) may be made by or on behalf of the Company or any Restricted Subsidiary, including, without limitation, by way of set-off or otherwise, for or on account of principal of, premium, if any, or interest on the Notes, or for or on account of the purchase, redemption, defeasance 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, directly or indirectly in any manner, payment in respect of all or any portion of Notes following the delivery by the representative of the holders of Designated Senior Indebtedness (the "Representative") to the Trustee of written notice of (i) the occurrence of a Payment Default on Designated Senior Indebtedness or (ii) the occurrence of a Non-Payment Event of Default on Designated Senior Indebtedness and the acceleration of the maturity of Designated Senior Indebtedness in accordance with its terms, and in any such event, such prohibition shall continue until such Payment Default is cured, waived in writing or ceases to exist or such acceleration has been rescinded or otherwise cured; provided that -------- nothing in this sentence shall be deemed to affect the right of the Holders to receive solely from the funds deposited in trust pursuant to clause (1) of Section 9.4 hereof prior to the date of such Payment Default and as more fully set forth in such Section payments or distributions in respect of the principal of, premium, if any, and interest on the Notes in connection with any Legal Defeasance or Covenant Defeasance. 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. (i) Upon the occurrence of a default in the payment when due (after giving effect to any grace period) of principal, premium, if any, or interest on, or any other amounts in respect of, any Senior Indebtedness (a "Payment Default"), no payment or distribution of any assets of the --------------- Borrower or any of its subsidiaries of any kind or character shall be made by or on behalf of the Borrower on account of principal of, premium, if any, or interest on, or any other amounts in respect of, the Subordinated Indebtedness or on account of the purchase, redemption or other acquisition of any Subordinated Indebtedness unless and until such Payment Default shall have been cured or waived or shall have ceased to exist or such Senior Indebtedness as to which such Payment Default relates shall have been discharged or paid in full in cash, after which the Borrower shall resume making any and all required payments in respect of the Subordinated Indebtedness, 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 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. The Company may not make any payment upon or distribution in respect of the Subordinated Note Obligations (other than (i) securities that are subordinated to at least the same extent as the Notes to (a) Senior Indebtedness and (b) any securities issued in exchange for Senior Indebtedness and (ii) payments and other distributions made from the trusts described in Article Twelve) until all Senior Indebtedness has been paid in full in cash equivalents if:
Suspension of Payment When Senior Indebtedness in Default. (a) Unless Section 1202 shall be applicable, upon the occurrence of a Payment Default, no payment (other than any payments previously made pursuant to the provisions described in Article Four) or distribution of any assets of the Company of any kind or character (excluding Permitted Junior Securities) shall be made by the Company on account of principal of, premium, if any, or interest on, the Securities of any series or any other Indenture Obligations or on account of the purchase, redemption, defeasance (whether under Section 402 or 403) or other acquisition of or in respect of the Securities unless and until such Payment Default shall have been cured or waived or shall have ceased to exist or the Designated Senior Indebtedness with respect to which such Payment Default shall have occurred shall have been discharged or paid in full in cash or Cash Equivalents or in any other form as acceptable to the Holders of Senior Indebtedness, after which the Company shall resume making any and all required payments in respect of the Securities, including any missed payments.
Suspension of Payment When Senior Indebtedness in Default. (a) Unless Section 13.2 hereof shall be applicable, upon the occurrence of a Payment Default, no direct or indirect payment or distribution of any assets of the Company of any kind or character shall be made by or on behalf of the Company on account of the Note Obligations or on account of the purchase or redemption or other acquisition of any Note Obligations unless and until such Payment Default shall have been cured or waived or shall have ceased to exist or such Designated Senior Indebtedness shall have been discharged or paid in full in cash in Cash Equivalents, after which, subject to Section 13.2 hereof (if applicable), the Company shall resume making any and all required payments in respect of the Securities and the other Note Obligations, including any missed payments.
Suspension of Payment When Senior Indebtedness in Default. (a) Unless Section 10.02 shall be applicable, upon the occurrence of a Payment Default, no payment or distribution of any assets of the Company of any kind or character (excluding Permitted Junior Notes) shall be made by or on behalf of the Company on account of principal of, premium, if any, or interest on or other obligations to the holders of the Notes in respect of the Notes or on account of the purchase, redemption or other acquisition of any Notes (other than payments previously made pursuant to Article 8) unless and until such Payment Default shall have been cured or waived or shall have ceased to exist or such Senior Indebtedness as to which such Payment Default relates shall have been discharged or paid in full in cash or Cash Equivalents, after which, subject to Section 10.02 (if applicable), 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 10.02 shall be applicable, upon (i) the occurrence of a Payment Default and (ii) receipt by the Trustee and the Company from a holder or representative of holders of Designated Senior Indebtedness of written notice of such occurrence, then no payment or distribution of any assets of the Company of any kind or character (excluding Permitted Junior Securities) shall be made by the Company on account of the principal, premium (if any), Equity Offering Redemption Price, Redemption Price, Change of Control Offer Price, Net Proceeds Offer Price, interest (if any) or any other payment required to be made hereunder or on account of the purchase or redemption or other acquisition of Securities unless and until such Payment Default shall have been cured or waived by the holder of Senior Indebtedness or shall have ceased to exist or such Senior Indebtedness shall have been discharged or paid in full, after which the Company shall resume making any and all required payments in respect of the Securities, including any missed payments.
Suspension of Payment When Senior Indebtedness in Default. The Company may not make any payment or distribution to the Trustee or any Holder in respect of Subordinated Note Obligations and may not acquire from the Trustee or any Holder any Notes for cash or property (other than (i) securities that are subordinated to at least the same extent as the Notes to (a) Senior Indebtedness and (b) any securities issued in exchange for Senior Indebtedness and (ii) payments and other distributions made from the trusts described in Article Twelve) until all Senior Indebtedness has been paid in full in cash or cash equivalents if:
Suspension of Payment When Senior Indebtedness in Default. (a) Upon (1) the occurrence of a Payment Event of Default and (2) receipt by the Trustee of written notice of such occurrence, then no payment or distribution of any Properties of the Company of any kind or character (other than Permitted Junior Securities) shall be made by the Company on account of principal of or interest on the Notes or on account of the purchase or redemption or other acquisition of Notes unless and until such Payment Event of Default shall have been cured or waived in writing or shall have ceased to exist or such Specified Senior Indebtedness shall have been paid in full or otherwise discharged, after which (unless otherwise prohibited by Section 1302) the Company shall resume making any and all required payments in respect of the Notes, including any missed payments.
