Common use of Acceleration of Other Indebtedness Clause in Contracts

Acceleration of Other Indebtedness. If default shall be made with respect to any Indebtedness of the Company (other than the Notes) with the result that Indebtedness in an aggregate amount of $100,000 or more has been accelerated so that the same has become due and payable prior to the date on which the same would otherwise have become due and payable, provided that such acceleration is not rescinded within 10 days after the declaration thereof; or

Appears in 3 contracts

Samples: Securities Purchase Agreement (General Electric Capital Corp), Securities Purchase Agreement (Krauses Furniture Inc), Securities Purchase Agreement (Worms & Co Inc)

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Acceleration of Other Indebtedness. If default shall be made with respect to any Indebtedness of the Company (other than the Notes) with a principal amount outstanding in excess of $1,000,000 with the result that such Indebtedness in an aggregate amount of $100,000 or more has been can be accelerated so that the same has will become due and payable prior to the date on which the same would otherwise have become due and payable, provided that such acceleration is not rescinded within 10 days after the declaration thereof; or;

Appears in 1 contract

Samples: Securities Purchase Agreement (Recovery Engineering Inc)

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