Common use of Default by Borrower in Other Agreements Clause in Contracts

Default by Borrower in Other Agreements. Except for any Specified Event of Default (as provided in the Forbearance Agreement), which Specified Events of Default shall include a prior existing default under the Heller Facility or the Sovereign Facility, any default by Borrower (i) xx xhe payment of any indebtedness to any Lender, including any indebtedness owed to Agent under the Heller Facility, DZ Facility, Sovereign Facility, Bond Holder Exchangx Xxxxsaction, Tranche C Facility, Additional Credit Facility or the Inventory Loan, (ii) in the payment or performance of other indebtedness for borrowed money or obligations secured by any part of the Resort; (iii) in the payment or performance of other material indebtedness or obligations (material indebtedness or obligations being defined for purposes of this provision as any indebtedness or obligation in excess of $200,000) where such default accelerates or permits the acceleration (after the giving of notice or passage of time or both) of the maturity of such indebtedness, or permits the holders of such indebtedness to elect a majority of the board of directors of Borrower (whether or not such default[s] have been waived by such holder) or (iv) the acceleration by Heller, Sovereign, DZ or the bondholders of their respective credit fxxxxxxies.

Default by Borrower in Other Agreements. Except for any Specified Event of Default (as provided in "Waived Defaults" under the Forbearance Agreement), November Letter Agreement which Specified Events of Default shall Waived Defaults include a prior existing default defaults under the Heller Xxxxxx Facility or the Sovereign Facility, any default as defined in the applicable loan agreement, by Borrower (i) xx xhe in the payment of any indebtedness to any Lender, including any indebtedness owed to Agent Lender under the Heller Xxxxxx Facility, DZ Facility, Sovereign Facility, Bond Holder Exchangx Xxxxsaction, Tranche C FacilityExchange Transaction, Additional Credit Facility or the Inventory Existing Credit Facilities, or the TFC Conduit Loan, ; (ii) in the payment or performance of other indebtedness for borrowed money or obligations secured by any part of the Resort; (iii) in the payment or performance of other material indebtedness or obligations (material indebtedness or obligations being defined for purposes of this provision as any indebtedness or obligation in excess of $200,000) where such default accelerates or permits the acceleration (after the giving of notice or passage of time or both) of the maturity of such indebtedness, or permits the holders of such indebtedness to elect a majority of the board of directors of Borrower (whether or not such default[s] have been waived by such holder) or (iv) the acceleration by HellerXxxxxx, Sovereign, DZ or the bondholders of their respective credit fxxxxxxiesfacilities or the acceleration of the TFC Conduit Loan.

Default by Borrower in Other Agreements. Except for any Specified Event of Default (as provided in the Forbearance Agreement), which Specified Events of Default shall include a prior existing default under the Heller Facility or the Sovereign Facility, any default by Borrower (i) xx xhe in the payment of any indebtedness to any Lender, including any indebtedness owed to Agent Lender under the Heller Facility, DZ Facility, Sovereign Facility, Bond Holder Exchangx Xxxxsaction, Tranche C Facility, Additional Credit Facility or the Inventory LoanExisting Credit Facilities, (ii) in the payment or performance of other indebtedness for borrowed money or obligations secured by any part of the Resort; (iii) in the payment or performance of other material indebtedness or obligations (material indebtedness or obligations being defined for purposes of this provision as any indebtedness or obligation in excess of $200,000) where such default accelerates or permits the acceleration (after the giving of notice or passage of time or both) of the maturity of such indebtedness, or permits the holders of such indebtedness to elect a majority of the board of directors of Borrower (whether or not such default[s] have been waived by such holder) or (iv) the acceleration by Heller, Sovereign, DZ or the bondholders of their respective credit fxxxxxxies."

Default by Borrower in Other Agreements. Except for any Specified Event of Default (as provided in the Forbearance Agreement), which Specified Events of Default shall include a prior existing default under the Heller Xxxxxx Facility or the Sovereign Facility and for any "Waived Defaults" under the November Letter Agreement, which "Waived Defaults" include prior existing defaults under the Xxxxxx Facility or the Sovereign Facility, any default default, AS DEFINED IN THE APPLICABLE LOAN AGREEMENT, by Borrower (i) xx xhe in the payment of any indebtedness to any Lender, including any indebtedness owed to Agent Agent, under the Heller Xxxxxx Facility, DZ Facility, Sovereign Facility, Bond Holder Exchangx XxxxsactionExchange Transaction, Tranche C Facility, Additional Credit Facility or Facility, the Inventory Loan, OR THE TFC CONDUIT LOAN, (ii) in the payment or performance of other indebtedness for borrowed money or obligations secured by any part of the Resort; (iii) in the payment or performance of other material indebtedness or obligations (material indebtedness or obligations being defined for purposes of this provision as any indebtedness or obligation in excess of $200,000) where such default accelerates or permits the acceleration (after the giving of notice or passage of time or both) of the maturity of such indebtedness, or permits the holders of such indebtedness to elect a majority of the board of directors of Borrower (whether or not such default[s] have been waived by such holder) or (iv) the acceleration by HellerXxxxxx, Sovereign, DZ or the bondholders of their respective credit fxxxxxxiesfacilities OR THE ACCELERATION OF THE TFC CONDUIT LOAN."

Default by Borrower in Other Agreements. Except for any Specified Event of Default (as provided in the Forbearance Agreement), which Specified Events of Default shall include a prior existing default under the Heller Xxxxxx Facility or the Sovereign Facility and for any "Waived Defaults" under the November Letter Agreement, which "Waived Defaults" include prior existing defaults under the Xxxxxx Facility or the Sovereign Facility, any default default, AS DEFINED IN THE APPLICABLE LOAN AGREEMENT, by Borrower (i) xx xhe in the payment of any indebtedness to any Lender, including any indebtedness owed to Agent under the Heller Xxxxxx Facility, DZ Facility, Sovereign Facility, Bond Holder Exchangx XxxxsactionExchange Transaction, Tranche C Facility, Additional Credit Facility or Facility, the Inventory Loan, OR THE TFC CONDUIT LOAN, (ii) in the payment or performance of other indebtedness for borrowed money or obligations secured by any part of the Resort; (iii) in the payment or performance of other material indebtedness or obligations (material indebtedness or obligations being defined for purposes of this provision as any indebtedness or obligation in excess of $200,000) where such default accelerates or permits the acceleration (after the giving of notice or passage of time or both) of the maturity of such indebtedness, or permits the holders of such indebtedness to elect a majority of the board of directors of Borrower (whether or not such default[s] have been waived by such holder) or (iv) the acceleration by HellerXxxxxx, Sovereign, DZ or the bondholders of their respective credit fxxxxxxiesfacilities OR THE ACCELERATION OF THE TFC CONDUIT LOAN."

Default by Borrower in Other Agreements. Except for any Specified Event of Default (as provided in the Forbearance Agreement), which Specified Events of Default shall include a prior existing default under the Heller Xxxxxx Facility or the Sovereign Facility and for any "Waived Defaults" under the November Letter Agreement, which Waived Defaults include prior existing defaults under the Xxxxxx Facility or the Sovereign Facility, any default default, AS DEFINED IN THE APPLICABLE LOAN AGREEMENT, by the Borrower (i) xx xhe in the payment of any indebtedness to any Lender, including any indebtedness owed to Agent Lender under the Heller Xxxxxx Facility, DZ Facility, Sovereign Facility, Bond Holder Exchangx XxxxsactionExchange Transaction, Tranche C Facility, Additional Credit Facility or the Inventory LoanExisting Credit Facilities, OR THE TFC CONDUIT LOAN, (ii) in the payment or performance of other indebtedness for borrowed money or obligations secured by any part of the Resort; (iii) in the payment or performance of other material indebtedness or obligations (material indebtedness or obligations being defined for purposes of this provision as any indebtedness or obligation in excess of $200,000) where such default accelerates or permits the acceleration (after the giving of notice or passage of time or both) of the maturity of such indebtedness, or permits the holders of such indebtedness to elect a majority of the board of directors of Borrower (whether or not such default[s] have been waived by such holder) or (iv) the acceleration by HellerXxxxxx, Sovereign, DZ or the bondholders of their respective credit fxxxxxxiesfacilities OR THE ACCELERATION OF THE TFC CONDUIT LOAN."

Default by Borrower in Other Agreements. Except for any Specified Event of Default (as provided in the Forbearance Agreement), which Specified Events of Default shall include a prior existing default under the Heller Xxxxxx Facility or the Sovereign Facility and for any "Waived Defaults" under the November Letter Agreement, which Waived Defaults include prior existing defaults under the Xxxxxx Facility or the Sovereign Facility, any default AS DEFINED IN THE APPLICABLE LOAN AGREEMENT, by Borrower (iI) xx xhe in the payment of any indebtedness to any Lender, including any indebtedness owed to Agent Lender under the Heller Xxxxxx Facility, DZ Facility, Sovereign Facility, Bond Holder Exchangx Xxxxsaction, Tranche C FacilityExchange Transaction, Additional Credit Facility or the Inventory LoanExisting Credit Facilities, OR THE TFC CONDUIT LOAN; (ii) in the payment or performance of other indebtedness for borrowed money or obligations secured by any part of the Resort; (iii) in the payment or performance of other material indebtedness or obligations (material indebtedness or obligations being defined for purposes of this provision as any indebtedness or obligation in excess of $200,000) where such default accelerates or permits the acceleration (after the giving of notice or passage of time or both) of the maturity of such indebtedness, or permits the holders of such indebtedness to elect a majority of the board of directors of Borrower (whether or not such default[s] have been waived by such holder) or (iv) the acceleration by HellerXxxxxx, Sovereign, DZ or the bondholders of their respective credit fxxxxxxiesfacilities OR THE ACCELERATION OF THE TFC CONDUIT LOAN."

Default by Borrower in Other Agreements. Except for any Specified Event of Default (as provided in the Forbearance Agreement), which Specified Events of Default shall include a prior existing default under the Heller Facility or the Sovereign Facility, any default by Borrower the Borrowex (ix) xx xhe in the payment of any indebtedness to any Lender, including any indebtedness owed to Agent Lender under the Heller Facility, DZ Facility, Sovereign Facility, Bond Holder Exchangx Xxxxsaction, Tranche C Facility, Additional Credit Facility or the Inventory LoanExisting Credit Facilities, (ii) in the payment or performance of other indebtedness for borrowed money or obligations secured by any part of the Resort; (iii) in the payment or performance of other material indebtedness or obligations (material indebtedness or obligations being defined for purposes of this provision as any indebtedness or obligation in excess of $200,000) where such default accelerates or permits the acceleration (after the giving of notice or passage of time or both) of the maturity of such indebtedness, or permits the holders of such indebtedness to elect a majority of the board of directors of Borrower (whether or not such default[s] have been waived by such holder) or (iv) the acceleration by Heller, Sovereign, DZ or the bondholders of their respective credit fxxxxxxies."