Common use of Debt Payment Default Clause in Contracts

Debt Payment Default. Any Credit Party or any Subsidiary of a Credit Party (including a Bank Subsidiary) shall default in any payment of principal of or interest on any Debt (other than the Loans and Reimbursement Obligations) in an aggregate principal amount equal to or greater than $17,500,000 for Borrower and any of its Subsidiaries (including the Bank Subsidiaries) in the aggregate beyond any applicable grace period or cure period (not to exceed thirty (30) days), if any, provided in the instrument or agreement under which such Debt was created.

Debt Payment Default. Any Credit Party or any Subsidiary of a Credit Party (including a Bank Subsidiary) shall default in any payment of principal of or interest on any Debt (other than the Loans and Reimbursement Obligations) in an aggregate principal amount equal to or greater than $17,500,000 for Borrower and any of its Subsidiaries (including the Bank Subsidiaries) in the aggregate beyond any applicable grace period or cure period (not to exceed thirty (30) days), if any, provided in the instrument or agreement under which such Debt was created.