Intel 2005 Annual Report Download - page 179

“ Payment Blockage Notice ”) from the Company or a Representative of Designated Senior Debt.
Notwithstanding the foregoing, following the delivery of a Payment Blockage Notice, no new Payment Blockage Notice may be delivered and no
new period of payment blockage with respect to the Securities may begin until both (i) 365 consecutive days have elapsed since the effectiveness of
the first Payment Blockage Notice and (ii) all scheduled payments of principal and Interest with respect to the Securities that are due have been paid in
full in cash. No default that existed or was continuing on the date of delivery of any Payment Blockage Notice with respect to the Designated Senior
Debt whose holders delivered the Payment Blockage Notice may be made the basis of a subsequent Payment Blockage Notice by the holders of such
Designated Senior Debt, whether or not within a period of 365 consecutive days.
The Company may and shall resume payments on and distributions in respect of the Securities upon:
(1) in the case of a Payment Default, the date upon which the default is cured or waived or ceases to exist, or
(2) in the case of a Non-Payment Default, the earlier of the date on which such default is cured or waived or ceases to exist, in each case as and
to the extent permitted under the documentation for the Designated Senior Debt, or the 179
th
day after the date on which the applicable Payment
Blockage Notice is received, in each case, unless the maturity of the Designated Senior Debt has been accelerated or this Article 5 otherwise
prohibits the payment or distribution at the time of such payment or distribution.
Upon any payment by the Company, or distribution of assets of the Company of any kind or character, whether in cash, property or securities, to
creditors upon any dissolution or winding-up or liquidation or reorganization of the Company (whether voluntary or involuntary) or in bankruptcy,
insolvency, receivership or similar proceedings, all amounts due or to become due upon all Senior Debt shall first be paid in full in cash, or other
payments satisfactory to the holders of Senior Debt before any payment of cash, property or securities is made on account of the principal of or Interest
on, or with respect to the conversion of, the Securities (except, to the extent required by applicable law, payments made pursuant to Article 14 from
monies deposited with the Trustee pursuant thereto prior to commencement of proceedings for such dissolution, winding-up, liquidation or
reorganization); and upon any such dissolution or winding-up or liquidation or reorganization of the Company or bankruptcy, insolvency, receivership
or other proceeding, any payment by the Company, or distribution of assets of the Company of any kind or character, whether in cash, property or
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