eTrade 2005 Annual Report Download - page 522

ARTICLE VI
E
VENTS
O
F
D
EFAULT
A
ND
R
EMEDIES
Section6.01.
Events of Default.
Any of the following events shall constitute an “Event of Default” hereunder with respect to Notes of
any Series:
(a) default in the payment of principal of (or premium, if any, on) any Note when the same becomes due and payable at maturity, upon
acceleration, redemption or otherwise;
(b) default in the payment of interest on any Note when the same becomes due and payable, and such default continues for a period of
30 days;
(c) default in the performance or breach of the provisions of the Indenture applicable to mergers, consolidations and transfers of all or
substantially all of the assets of the Company or the failure by the Company to make or consummate an Offer to Purchase in
accordance with Section4.11 or Section4.12;
(d) the Company or any Subsidiary Guarantor defaults in the performance of or breaches any other covenant or agreement in the
Indenture or under the Notes (other than a default specified in clause (a), (b)or (c)of this Section6.01) and such default or breach
continues for a period of 30 consecutive days after written notice by the Trustee or the Holders of 25% or more in aggregate principal
amount of the Notes;
(e) there occurs with respect to any issue or issues of Indebtedness of the Company or any Significant Subsidiary having an
outstanding principal amount of $20 million or more in the aggregate for all such issues of all such Persons, whether such
Indebtedness now exists or shall hereafter be created, (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acceleration has not been rescinded or annulled within 45 days of such acceleration or (II) the failure to make a principal payment at the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;
(f) any final judgment or order (not covered by insurance), that is non-appealable, for the payment of money in excess of $20 million in
the aggregate for all such final judgments or orders against all such Persons (treating any deductibles, self-insurance or retention as
not so covered) shall be rendered against the Company or any Significant Subsidiary and shall not be paid or discharged, and there
shall be any period of 45 consecutive days following entry of the final judgment or order that causes the aggregate amount for all such
final judgments or orders outstanding and not paid or discharged against all such Persons to exceed $20 million during which a stay of
enforcement of such final judgment or order, by reason of a pending appeal or otherwise, shall not be in effect;
(g) a court having jurisdiction in the premises enters a decree or order for (A)relief in respect of the Company or any Significant
Subsidiary in an involuntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect,
(B)appointment of a receiver, liquidator, assignee,
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