Payment Blockage Period

Payment Blockage Period. Means, with respect to any Payment Default Event, the period from and including the date of receipt by Subordinated Lender of a Payment Default Notice relating thereto until the first to occur of (a) the date on which Senior Lender shall have expressly waived or acknowledged the cure of such Payment Default Event, in each case in writing, or (b) the date on which Senior Lender shall expressly and irrevocably waive the application of Section 4.a and 4.b in writing.

Payment Blockage Period. Means, with respect to any Payment Default, the period (a) beginning upon receipt by the Junior Notes Trustee of a Payment Default Notice pursuant to this Agreement, provided that if such Payment Default is continuing on or after the receipt by each of the Senior Notes Trustee and the Junior Notes Trustee of notice pursuant to the Liquidity Facility Intercreditor Agreement (a "Liquidity Facility Notice") of any Liquidity Facility default in payment resulting in a "Blockage Period" under the... Liquidity Facility Intercreditor Agreement then in effect, such period shall begin, if earlier, on the receipt by each of the Senior Notes Trustee and the Junior Notes Trustee of such Liquidity Facility Notice, and (b) ending upon the first to occur of (i) the date on which such Payment Default or, if applicable, such Liquidity Facility payment default, shall have been cured or expressly waived in writing by the Senior Notes Trustee in the case of a Payment Default or by the Liquidity Facility Collateral Agent in the case of a Liquidity Facility payment default, or (ii) the date on which the Senior Notes Trustee shall expressly and irrevocably waive the application of Section 5(a) in writing. View More

Payment Blockage Period. Means, with respect to any Payment Default, the period from and including the date of receipt by each Trustee of a Payment Default Notice relating thereto until the first to occur of (a) the date on which the Collateral Agent shall have expressly waived such Payment Default in writing or such Payment Default shall have been cured, or (b) the date on which Collateral Agent shall expressly and irrevocably waive the application of Sections 5(a) and 6(a) in writing.

Payment Blockage Period. Means the period commencing from the receipt by the Maker, the Guarantor or the Noteholder of a Payment Blockage Notice and ending on the earliest to occur of (a) the date on which the Events of Default(s) listed in such Payment Blockage Notice shall have been cured or waived in accordance with the terms of the Senior Debt Documents, (b) if arising as a result of any default other than a payment default, 180 days from the commencement of such period, or (c) the revocation, withdrawal or... termination of such Payment Blockage Notice by the Senior Debt Agent. View More