Common use of Certain Other Defaults Clause in Contracts

Certain Other Defaults. Any Borrower shall fail to pay when due any Indebtedness which singularly or in the aggregate exceeds 10% of Consolidated Net Worth at the time calculated, and such failure shall continue beyond any applicable cure period, or 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 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 10% 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.

Certain Other Defaults. Any Borrower ABL, FLC or any Guarantor shall fail to pay when due any Indebtedness for Borrowed Money which singularly or in the aggregate exceeds 10% of Consolidated Net Worth at the time calculated$500,000, and such failure shall continue beyond any applicable cure period, or ABL, FLC or any Borrower Guarantor 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 10% of Consolidated Net Worth at the time calculated$500,000) 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. Any Borrower CLC or any Subsidiary shall fail to pay when due any Indebtedness for Borrowed Money other than the Senior Notes, which singularly or in the aggregate exceeds 10% of Consolidated Net Worth at the time calculated$1,000,000, and such failure shall continue beyond any applicable cure period, or CLC or any Borrower Subsidiary 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 10% of Consolidated Net Worth at the time calculated$1,000,000) 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. Any The Borrower or any Restricted Subsidiary shall fail to pay when due any Indebtedness for Borrowed Money which singularly or in the aggregate exceeds 10% of Consolidated Net Worth at the time calculated$1,000,000, and such failure shall continue beyond any applicable cure period, or any the Borrower or a Restricted Subsidiary 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 10% of Consolidated Net Worth at the time calculated$1,000,000) 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 ’s obligations hereunder to make further Loans shall be suspended.

Certain Other Defaults. Any If Borrower or any Subsidiary shall fail to pay when due any Indebtedness for Borrowed Money which singularly or in the aggregate exceeds 10% of Consolidated Net Worth at the time calculated$1,000,000, and such failure shall continue beyond any applicable cure period, or Borrower or any Borrower Subsidiary 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 10% of Consolidated Net Worth at the time calculated$1,000,000) 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 Banks' obligations hereunder to make further Loans or issue Letters of Credit shall be suspended.;