Borrower Cross-Default Clause Samples

Borrower Cross-Default. Failure by Borrower to pay when due any Indebtedness in an outstanding principal amount of $250,000 excluding the Loans; or the default by Borrower in the performance (beyond the applicable grace period with respect thereto, if any) of any term, provision or condition contained in any loan agreement or other debt instrument, or any other event shall occur or condition exist, the effect of which default, event or condition is to cause, or permit the holder(s) of such Indebtedness to cause, such Indebtedness to become due prior to its stated maturity or any commitment to lend under any such loan agreement or other debt instrument to be terminated prior to its stated expiration date; or any Indebtedness shall be declared to be due and payable or required to be prepaid or repurchased (other than by a regularly scheduled payment) prior to the stated maturity thereof; or

Borrower Cross-Default. Failure by any Borrower to pay when due any Indebtedness in an outstanding principal amount of One Million and No/100 Dollars ($1,000,000.00) or more in the aggregate excluding the Loans (“Material Borrower Indebtedness”); or the default by any Borrower in the performance (beyond the applicable grace period with respect thereto, if any) of any term, provision or condition contained in any loan agreement or other debt instrument, or any other event shall occur or condition exist, the effect of which default, event or condition is to cause, or permit the holder(s) of such Material Borrower Indebtedness to cause, such Material Borrower Indebtedness to become due prior to its stated maturity or any commitment to lend under any such loan agreement or other debt instrument to be terminated prior to its stated expiration date; or any Material Borrower Indebtedness shall be declared to be due and payable or required to be prepaid or repurchased (other than by a regularly scheduled payment) prior to the stated maturity thereof.

Borrower Cross-Default. Failure by Borrower to pay within any applicable notice and grace period after the same becomes due (whether on a scheduled payment date or earlier date of acceleration) any indebtedness, whether direct or contingent, owing to Lender or any Affiliate of Lender (other than the Loan) or to any other Person or Persons;

Borrower Cross-Default. Default, after the expiration of all applicable grace periods, if any, shall be made by a Borrower in the payment when due of Liabilities, singly or in the aggregate in the amount of $50,000 or more (whether principal, interest or premium) now or hereafter owing by it (other than to the Bank under this Credit Agreement) or default shall be made by a Borrower in the performance of any covenant or other obligation contained in any agreement, indenture, lease or other instrument or document relating to, evidencing, or securing such Liabilities if the effect of the default is to permit the holder of such Liabilities (with or without the giving of notice or the lapse of time or both) to accelerate the maturity thereof; or

Borrower Cross-Default. Failure by Borrower to pay when due (whether on a scheduled payment date or earlier date of acceleration) (i) any indebtedness, whether direct or contingent, owing to Lender or any Affiliate of Lender (other than the Loan) and such failure continues unremedied for a period of five (5) days after ▇▇▇▇▇▇▇▇’s receipt of written notice thereof from Lender, or (ii) any indebtedness (other than Permitted Operational Debt), whether direct or contingent, owing to any other Person or Persons and such failure continues unremedied for a period of five (5) days after Borrower obtains actual knowledge of such failure;