Common use of Cross Default and Acceleration Clause in Contracts

Cross Default and Acceleration. Unless otherwise specified in the Election Sheet: (i) any payment default under any Specified Indebtedness with an aggregate outstanding principal balance equal to three percent (3%) of the Tangible Net Worth of (aa) such Party, (bb) such Party's Credit Support Provider (if such Party has a Credit Support Provider), or (cc) such Party's Controlling Party (if such Party does not have a Credit Support Provider but has a Controlling Party), as the case may be, as of the date of the default; or (ii) the failure of a Party or its Credit Support Provider or Controlling Party to make one or more payments in an aggregate amount (individually or collectively) of not less than the Threshold Amount specified in the Election Sheet for that Party under such agreements or instruments entered into between such Parties or their Affiliates (after giving effect to any applicable notice requirement or grace period thereunder).

Cross Default and Acceleration. Unless otherwise specified in the Election Sheet:, (i) any payment default under any Specified Indebtedness with an aggregate outstanding principal balance equal to three percent (3%) of the Tangible Net Worth of such (aa) such Party’s, or (bb) such Party's ’s Credit Support Provider (if such Party has a Credit Support Provider), ) or (cc) such Party's ’s Controlling Party (if such Party does not have a Credit Support Provider but has a Controlling Party), as the case may be, as of the date of the default; , or (ii) the failure of a Party or its Credit Support Provider or Controlling Party to make one or more payments in an aggregate amount (individually or collectively) of not less than the Threshold Amount specified in the Election Sheet for that Party under such agreements or instruments entered into between such Parties or their Affiliates (after giving effect to any applicable notice requirement or grace period thereunderperiod).

Cross Default and Acceleration. Unless otherwise specified in the Election Sheet:, (i) any payment default under any Specified Indebtedness with an aggregate outstanding principal balance equal equal, at the date of default, to three percent (3%) of the Tangible Net Worth of such (aa) such Party’s, or (bb) such Party's ’s Credit Support Provider (if such Party has a Credit Support Provider), ) or (cc) such Party's ’s Controlling Party (if such Party does not have a Credit Support Provider but has a Controlling Party), as the case may be, as of the date of the default; , or (ii) the failure of a Party or its Credit Support Provider or Controlling Party to make one or more payments in an aggregate amount (individually or collectively) of not less than the Threshold Amount specified in the Election Sheet for that Party under such agreements or instruments entered into between such Parties or their Affiliates (after giving effect to any applicable notice requirement or grace period thereunderperiod).

Cross Default and Acceleration. Unless otherwise specified in the Election Sheet:, (i) any payment default under any Specified Indebtedness with an aggregate outstanding principal balance equal equal, at the date of default, to three percent (3%) of the Tangible Net Worth of such (aa) such Party's, or (bb) such Party's Credit Support Provider (if such Party has a Credit Support Provider), ) or (cc) such Party's Controlling Party (if such Party does not have a Credit Support Provider but has a Controlling Party), as the case may be, as of the date of the default; , or (ii) the failure of a Party or its Credit Support Provider or Controlling Party to make one or more payments in an aggregate amount (individually or collectively) of not less than the Threshold Amount specified in the Election Sheet for that Party under such agreements or instruments entered into between such Parties or their Affiliates (after giving effect to any applicable notice requirement or grace period thereunderperiod).