Common use of Certain Other Defaults Clause in Contracts

Certain Other Defaults. Xxxxxx shall fail to pay when due any Indebtedness for Borrowed Money which singularly or in the aggregate exceeds $5,000,000, and such failure shall continue beyond any applicable cure period, or Xxxxxx shall suffer to exist any default or event of default in the performance or observance, subject to any applicable grace period, of any agreement, term, condition or covenant with respect to any agreement or document relating to Indebtedness for Borrowed Money if the effect of such default is to permit, with the giving of notice or passage of time or both, the holders thereof, or any trustee or agent for said holders, to terminate or suspend any commitment (which is equal to or in excess of $5,000,000) to lend money or to cause or declare any portion of any borrowings thereunder to become due and payable prior to the date on which it would otherwise be due and payable, provided that during any applicable cure period the Bank's obligations hereunder to make further Loans shall be suspended.

Certain Other Defaults. Xxxxxx The Borrowers shall fail to pay when due any Indebtedness for Borrowed Money which singularly or in the aggregate exceeds $5,000,0001,000,000, and such failure shall continue beyond any applicable cure period, or Xxxxxx either Borrower shall suffer to exist any default or event of default in the performance or observance, subject to any applicable grace period, of any agreement, term, condition or covenant with respect to any agreement or document relating to Indebtedness for Borrowed Money if the effect of such default is to permit, with the giving of notice or passage of time or both, the holders thereof, or any trustee or agent for said holders, to terminate or suspend any commitment (which is equal to or in excess of $5,000,0001,000,000) to lend money or to cause or declare any portion of any borrowings thereunder to become due and payable prior to the date on which it would otherwise be due and payable, provided that during any applicable cure period the Bank's obligations hereunder to make further Loans shall be suspended.

Certain Other Defaults. Xxxxxx Either or both Borrowers shall fail to pay when due any Indebtedness for Borrowed Money which singularly or in the aggregate exceeds $5,000,0001,000,000, and such failure shall continue beyond any applicable cure period, or Xxxxxx either Borrower shall suffer to exist any default or event of default in the performance or observance, subject to any applicable grace period, of any agreement, term, condition or covenant with respect to any agreement or document relating to Indebtedness for Borrowed Money if the effect of such default is to permit, with the giving of notice or passage of time or both, the holders thereof, or any trustee or agent for said holders, to terminate or suspend any commitment (which is equal to or in excess of $5,000,0001,000,000) to lend money or to cause or declare any portion of any borrowings thereunder to become due and payable prior to the date on which it would otherwise be due and payable, provided that during any applicable cure period the Bank's obligations hereunder to make further Loans shall be suspended.

Certain Other Defaults. Xxxxxx Any Borrower shall fail to pay when due any Indebtedness for Borrowed Money which singularly or in the aggregate exceeds $5,000,00010% of Consolidated Net Worth at the time calculated, and such failure shall continue beyond any applicable cure period, or Xxxxxx any Borrower shall suffer to exist any default or event of default in the performance or observance, subject to any applicable grace period, of any agreement, term, condition or covenant with respect to any agreement or document relating to Indebtedness for Borrowed Money if the effect of such default is to permit, with the giving of notice or passage of time or both, the holders thereof, or any trustee or agent for said holders, to terminate or suspend any commitment (which is equal to or in excess of $5,000,00010% of Consolidated Net Worth at the time calculated) to lend money or to cause or declare any portion of any borrowings thereunder to become due and payable prior to the date on which it would otherwise be due and payable, provided that during any applicable cure period the Bank's obligations hereunder to make further Loans shall be suspended.