No Payment When Senior Debt in Default. In the event that any Senior Payment Default shall have occurred, then no Securities Payment shall be made unless and until such Senior Payment Default shall have been cured or waived in writing or shall have ceased to exist or all Obligations in respect of such Senior Debt shall have been paid in full in cash or cash equivalents. The provisions of this Section shall not apply to any Securities Payment with respect to which Section 1302 hereof would be applicable.
Appears in 4 contracts
Samples: Indenture (Olympic Financial LTD), Uhc Capital I, Benchmark Electronics Inc
No Payment When Senior Debt in Default. In the event that any Senior Payment Default (as defined below) shall have occurredoccurred and be continuing, then no Securities Payment shall be made unless and until such Senior Payment Default shall have been cured or waived in writing or shall have ceased to exist or all Obligations amounts then due and payable in respect of such Senior Debt shall have been paid in full full, or provision shall have been made for such payment in cash or cash equivalentsequivalents or otherwise in a manner satisfactory to the holders of Senior Debt. The provisions of this Section shall not apply to any Securities Payment with respect to which Section 1302 hereof would be applicable."
Appears in 3 contracts
Samples: Indenture (Transtexas Gas Corp), Indenture (Transtexas Gas Corp), Nextlink Communications LLC
No Payment When Senior Debt in Default. In the event that any Senior Payment Default (as defined below) shall have occurredoccurred and be continuing, then no Securities Payment shall be made unless and until such Senior Payment Default shall have been cured or waived in writing or shall have ceased to exist or all Obligations amounts then due and payable in respect of such Senior Debt shall have been paid in full full, or provision shall have been made for such payment in cash or cash equivalentsequivalents or any other manner acceptable to the holders of the Senior Debt. The provisions of this Section shall not apply to any Securities Payment with respect to which Section 1302 hereof would be applicable."
Appears in 2 contracts
Samples: Indenture (Pathology Building Partnership), Iridium Facilities Corp
No Payment When Senior Debt in Default. In the event that any Senior Payment Default (as defined below) shall have occurredoccurred and be continuing, then no Securities Payment shall be made unless and until such Senior Payment Default shall have been cured or waived in writing or shall have ceased to exist or all Obligations amounts then due and payable in respect of such Senior Debt shall have been paid in full full, or provision shall have been made for such payment, in cash or cash equivalentsCash Equivalents or otherwise in a manner satisfactory to the holders of Senior Debt. The provisions of this Section shall not apply to any Securities Payment with respect to which Section 1302 hereof would be applicable.β
Appears in 2 contracts
Samples: Indenture (Geo MCF Lp, LLC), OM Asset Management PLC
No Payment When Senior Debt in Default. In the event that any Senior Payment Default (as defined below) shall have occurredoccurred and be continuing, then no Securities Payment (other than in Subordinated Consideration) shall be made unless and until such Senior Payment Default shall have been cured or waived in writing or shall have ceased to exist or all Obligations amounts then due and payable in respect of such Senior Debt shall have been paid in full full, or provision shall have been made for such payment in cash or cash equivalentsequivalents or otherwise in a manner satisfactory to the holders of Senior Debt. The provisions of this Section shall not apply to any Securities Payment with respect to which Section 1302 hereof would be applicable."
Appears in 2 contracts
Samples: Granite Broadcasting Corp, Granite Broadcasting Corp
No Payment When Senior Debt in Default. In the event that any Senior Payment Default (as defined below) shall have occurredoccurred and be continuing, then no Securities Notes Payment shall be made unless and until such Senior Payment Default shall have been cured or waived in writing or shall have ceased to exist or all Obligations amounts then due and payable in respect of such Senior Debt shall have been paid in full full, or provision shall have been made for such payment in cash or cash equivalentsequivalents or otherwise in a manner satisfactory to the holders of Senior Debt. The provisions of this Section shall not apply to any Securities Payment with respect to which Section 1302 hereof would be applicable."
Appears in 1 contract
Samples: Loews Cineplex Entertainment Corp
No Payment When Senior Debt in Default. In the event that any Company Senior Payment Default (as defined below) shall have occurredoccurred and be continuing, then no Company Securities Payment shall be made unless and until such Company Senior Payment Default shall have been cured or waived in writing or shall have ceased to exist or all Obligations amounts then due and payable in respect of such Senior Debt of the Company shall have been paid in full full, or provision shall have been made for such payment in cash or cash equivalentsotherwise in a manner satisfactory to the holders of such Senior Debt. The provisions of this Section shall not apply to any Securities Payment with respect to which Section 1302 hereof would be applicable."
Appears in 1 contract
Samples: Allied Waste Industries Inc
