No Payment on Securities in Event of Default on Senior Indebtedness. Subject to Section 15.01, no payment by the Company on account of principal (or premium, if any), sinking funds or interest, if any, on the Securities shall be made at anytime if: (i) a default on Senior Indebtedness exists that permits the holders of such Senior Indebtedness to accelerate its maturity and (ii) the default is the subject of judicial proceedings or the Company has received notice of such default. The Company may resume payments on the Securities when full payment of amounts then due for principal (premium, if any), sinking funds and interest on Senior Indebtedness has been made or duly provided for in money or money’s worth. In the event that, notwithstanding the foregoing, any payment shall be received by the Trustee when such payment is prohibited by the preceding paragraph of this Section 15.03, such payment shall be held in trust for the benefit of, and shall be paid over or delivered to, the holders of such Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, as calculated by the Company, but only to the extent that the holders of such Senior Indebtedness (or their representative or representatives or a trustee) notify the Trustee in writing within 90 calendar days of such payment of the amounts then due and owing on such Senior Indebtedness and only the amounts specified in such notice to the Trustee shall be paid to the holders of such Senior Indebtedness.
No Payment on Securities in Event of Default on Senior Indebtedness. No payment by the Company on account of principal (or premium, if any), sinking funds or interest, if any, on the Securities shall be made unless full payment of amounts then due for principal (premium, if any), sinking funds and interest on Senior Indebtedness has been made or duly provided for in money or money's worth.
No Payment on Securities in Event of Default on Senior Indebtedness. No payment by the Company on account of principal of, or premium, if any, sinking funds or interest, if any, on the Securities shall be made unless full payment of amounts then due for the principal of, and premium, if any, sinking funds and interest, if any, on Senior Indebtedness has been made or duly provided for in money or money's worth.
No Payment on Securities in Event of Default on Senior Indebtedness. Subject to Section 15.01, in the event and during the continuation of any default in the payment of principal of, or premium, if any, or interest on, any Senior Indebtedness, beyond any applicable grace period, or if any event of default with respect to any Senior Indebtedness will have occurred and be continuing, or would occur as a result of the payment referred to hereinafter, permitting the holders of such Senior Indebtedness (or a trustee on behalf of the holders thereof) to accelerate the maturity thereof, then, unless and until such default or event of default will have been cured or waived or will have ceased to exist, no payment or principal of or interest on the Securities, or in respect of any retirement, purchase or other acquisition of any of the Securities, will be made by the Company.
No Payment on Securities in Event of Default on Senior Indebtedness. No payment by a Subordinating Party on account of principal (or premium, if any), sinking funds or interest, if any, on the Securities or Guarantees thereof shall be made at any time if: (i) a default on the applicable Senior Indebtedness exists that permits the holders of such Senior Indebtedness to accelerate its maturity and (ii) the default is the subject of judicial proceedings or such Subordinating Party has received notice of such default. Such Subordinating Party may resume payments on the Securities when full payment of amounts then due for principal (premium, if any), sinking funds and interest on such Senior Indebtedness has been made or duly provided for in money or money’s worth.
No Payment on Securities in Event of Default on Senior Indebtedness. Subject to Section 15.01, no payment by the Company on account of principal (or premium, if any), sinking funds or interest, if any, on the Securities shall be made at any time if: (i) a default on Senior Indebtedness exists that permits the holders of such Senior Indebtedness to accelerate its maturity and (ii) the default is the subject of judicial proceedings or the Company has received notice of such default. The Company may resume payments on the Securities when full payment of amounts then due for principal (premium, if any), sinking funds and interest on Senior Indebtedness has been made or duly provided for in money or money’s worth.
No Payment on Securities in Event of Default on Senior Indebtedness. No payment by the Company on account of principal of, or premium, if any, sinking funds, if any, or interest, if any, on, or Additional Amounts, if any, in respect of the Securities shall be made if there shall have occurred and be continuing (i) a default in the payment when due of principal of, premium, if any, sinking funds, if any, or interest, if any, on any Senior Indebtedness of the Company and any applicable grace period with respect to such default shall have ended without such default having been cured or waived or ceasing to exist or (ii) an event of default with respect to any Senior Indebtedness of the Company resulting in the acceleration of the maturity thereof without such acceleration having been rescinded or annulled, or the principal of, premium, if any, sinking funds, if any, and interest, if any, on such Senior Indebtedness having been paid in full.
No Payment on Securities in Event of Default on Senior Indebtedness. The Company shall not make or agree to make any direct or indirect payment (in cash, property or securities, by set-off or otherwise) on account of any Securities or interest thereon or in respect of any repayment, redemption, retirement, purchase or other acquisition of any Securities if:
