Examples of Declaration Event of Default in a sentence
Enforcement of Certain Rights by Holders of Preferred Securities If a Declaration Event of Default (as defined herein) occurred and were continuing, then the holders of Preferred Securities would rely on the enforcement by the Property Trustee of its rights as a holder of the Convertible Subordinated Debentures against Continental.
If a Declaration Event of Default has occurred and is continuing, the Preferred Securities shall have a preference over the Common Securities with regard to such distributions.
A waiver of an Indenture Event of Default will constitute a waiver of the corresponding Declaration Event of Default.
Such notice will state that such Indenture Event of Default also constitutes a Declaration Event of Default.
The Common Securities rank pari passu, and payments will be made thereon on a pro rata basis, with the Preferred Securities, except that upon the occurrence of a Declaration Event of Default (as defined herein) the rights of the holders of the Common Securities to receive payment of periodic distributions and payments upon liquidation, redemption and otherwise will be subordinated to the rights of the holders of the Preferred Securities.