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PNC » Topics » SECTION 2.7 Events of Default; Waiver

This excerpt taken from the PNC 8-K filed Feb 13, 2008.

SECTION 2.7 Events of Default; Waiver

The Holders of a Majority in Liquidation Amount of Trust Preferred Securities may, by vote, on behalf of the Holders of all of the Trust Preferred Securities, waive any past Event of Default and its consequences. Upon such waiver, any such Event of Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Trust Preferred Securities Guarantee, but no such waiver shall extend to any subsequent or other default or Event of Default or impair any right consequent thereon.

"SECTION 2.7 Events of Default; Waiver" elsewhere:

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