eTrade 2005 Annual Report Download - page 447

(a) subject to the Company’s right to defer payments of interest under Section2.06 hereunder, the Company fails to pay interest on the
Subordinated Notes for thirty days past the applicable due date;
(b) the Company fails to pay the principal amount of, or premium, if any, on the Subordinated Notes when due (whether at the Maturity
Date, as a result of a Put Right or otherwise);
(c) the Company fails to observe or perform any other covenant or agreement in the Indenture, which continues for 60 days after
written notice from the Trustee or holders of at least 25% of the outstanding principal amount of the Subordinated Notes as provided
in the Indenture;
(d) there occurs with respect to any issue or issues of indebtedness of the Company or any Significant Subsidiary of the Company
having an outstanding principal amount of $20 million or more in the aggregate for all such issues of all such persons, (i)an event of
default that has caused the holder thereof to declare such indebtedness to be due and payable prior to its stated maturity and such
indebtedness has not been discharged in full or such acceleration has not been rescinded or annulled within 45 days of such
acceleration or (ii)a failure to make a principal payment at the final (but not any interim) fixed maturity and such defaulted payment shall
not have been made, waived or extended;
(e) a court having jurisdiction in the premises shall enter a decree or order for relief in respect of a Significant Subsidiary of the
Company in an involuntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, or
appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) of such Significant Subsidiary or for any
substantial part of its property or ordering the winding up or liquidation of its affairs, and such decree or order shall remain unstayed
and in effect for a period of 60 consecutive days; or
(f) a Significant Subsidiary of the Company shall commence a voluntary case under any applicable bankruptcy, insolvency or other
similar law now or hereafter in effect, or consent to the entry of an order for relief in an involuntary case under any such law, or
consent to the appointment or taking possession by a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official)
of such Significant Subsidiary or for any substantial part of its property, or make any general assignment for the benefit of creditors.
ARTICLE X
SUBORDINATION
Section10.01
Subordination
. The subordination provisions contained in Article 13 of the Base Indenture shall apply to the
Subordinated Notes except as otherwise provided in this Supplemental Indenture No.1. For purposes of the Subordinated Notes and
the provisions of this Article X, “Senior Indebtedness” shall be as defined in Section1.02 of this Supplemental Indenture No.1.
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2006. EDGAR Online, Inc.