Common use of Cross-Payment Default and Cross-Acceleration Clause in Contracts

Cross-Payment Default and Cross-Acceleration. The Borrower or any Material Subsidiary (A) fails to make any payment when due (following the expiration of any applicable grace with regards to such payment) (whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise) in respect of any Indebtedness (other than Indebtedness hereunder but including Indebtedness under Swap Contracts) having an aggregate principal amount of more than the Threshold Amount or (B) fails to observe or perform any other agreement or condition relating to any such Indebtedness or contained in any instrument or agreement evidencing, securing or relating thereto, or any other event occurs, the effect of which default or other event is to cause such Indebtedness having an aggregate principal amount of more than the Threshold Amount to be demanded or to become due prior to its stated maturity; or

Cross-Payment Default and Cross-Acceleration. The Borrower or any Material Subsidiary (A) fails to make any payment when due (following the expiration of any applicable grace with regards to such payment) (whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise) in respect of any Indebtedness (other than Indebtedness hereunder but including Indebtedness under Swap Contracts) having an aggregate principal amount of more than the Threshold Amount or (B) fails to observe or perform any other agreement or condition relating to any such Indebtedness or contained in any instrument or agreement evidencing, securing or relating thereto, or any other event of default (however characterized) occurs, the effect of which default or other event is to cause the maturity of such Indebtedness having an aggregate principal amount of more than the Threshold Amount to be demanded or to become due prior to its stated maturityaccelerated; or