Payment Blockage Notice

Payment Blockage Notice. Has the meaning given to such term in Section ----------------------- 7(b) herein.

Payment Blockage Notice. Shall mean a written notice from the Trustee or any Noteholder to the Subordinated Creditors pursuant to which the Subordinated Creditors are notified of the occurrence of a Senior Covenant Default, which notice incorporates a reasonably detailed description of such Senior Covenant Default.

Payment Blockage Notice. The meaning assigned thereto in the DEBT INDENTURE or in any indenture governing NOTE INDENTURE OBLIGATIONS.

Payment Blockage Notice. Means a notice by the Senior Debt Agent (a) stating that one or more Events of Default shall have occurred and be continuing under (and as defined in) the applicable Senior Debt Document (and listing such Events of Default(s) in reasonable detail), and (b) directing that all payments under this Note be subject to Section 3(b).