Common use of Cross Default Under Other Agreements Clause in Contracts

Cross Default Under Other Agreements. the Borrower or any of its Subsidiaries shall (i) default in any payment with respect to any Debt or other financial obligation (other than the Loans) owed to the Lender or any of its Affiliates, or any Debt having an unpaid principal amount of $1,000,000 or greater, and such default shall continue after the applicable grace period, if any, specified in any agreement or instrument relating thereto, or (ii) default in the observance or performance of any covenant or condition contained in any such agreement or instrument (and all grace periods applicable to such observance, performance or condition shall have expired), or any other event shall occur or condition exist, the effect of which default or other event or condition is to cause, or to permit the holder or holders of such Debt or other financial obligations (or a trustee or agent on behalf of such holder or holders) to cause any such Debt or other financial obligations to become due prior to its stated maturity; or any such Debt or other financial obligation shall be declared to be due and payable, or shall be required to be prepaid (other than by a regularly scheduled required prepayment or redemption, prior to the stated maturity thereof); or

Appears in 2 contracts

Samples: Credit Agreement (Mechanical Technology Inc), Credit Agreement (Mechanical Technology Inc)

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Cross Default Under Other Agreements. the Borrower Company or any of its Subsidiaries shall (i) default in any payment with respect to any Debt or other financial obligation Indebtedness (other than the LoansObligations) owed to the Lender or any of its AffiliatesLender, or any Debt having an unpaid principal amount of $1,000,000 15,000,000 or greater, and such default shall continue after the applicable grace period, if any, specified in any the agreement or instrument relating theretoto such Indebtedness, or (ii) default in the observance or performance of any covenant agreement or condition relating to any such Indebtedness or contained in any such instrument or agreement evidencing, securing or instrument relating thereto (and all grace periods applicable to such observance, performance or condition shall have expired), or any other event shall occur or condition exist, the effect of which default or other event or condition is to cause, or to permit the holder or holders of such Debt or other financial obligations Indebtedness (or a trustee or agent on behalf of such holder or holders) to cause any such Debt or other financial obligations Indebtedness to become due prior to its stated maturity; or any such Debt Indebtedness of the Company or other financial obligation any of its Subsidiaries shall be declared to be due and payable, or shall be required to be prepaid (other than by a regularly scheduled required prepayment or redemption, prior to the stated maturity thereof); or

Appears in 2 contracts

Samples: Credit Agreement (Cedar Fair L P), Credit Agreement (Cedar Fair L P)

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Cross Default Under Other Agreements. the Borrower or any of its Subsidiaries shall (i) default in any payment with respect to any Debt or other financial obligation Indebtedness (other than the LoansObligations) owed to the Lender or any of its Affiliates, or any Debt having in an unpaid principal aggregate amount of $1,000,000 15,000,000 or greater, and such default shall continue after the applicable grace period, if any, specified in any the agreement or instrument relating theretoto such Indebtedness, or (ii) default in the observance or performance of any covenant agreement or condition relating to any such Indebtedness or contained in any such instrument or agreement evidencing, securing or instrument relating thereto (and all grace periods applicable to such observance, performance or condition shall have expired), or any other event shall occur or condition exist, in each case, the effect of which default or other event or condition is to cause, or to permit the holder or holders of such Debt or other financial obligations Indebtedness (or a trustee or agent on behalf of such holder or holders) to cause any such Debt or other financial obligations Indebtedness to become due prior to its stated maturity; or any such Debt Indebtedness of the Borrower or other financial obligation any of its Subsidiaries shall be declared to be due and payable, or shall be required to be prepaid (other than by a regularly scheduled required prepayment or redemption, prior to the stated maturity thereof); or;

Appears in 1 contract

Samples: Credit Agreement (Ch Energy Group Inc)

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