Common use of Default of Indebtedness Clause in Contracts

Default of Indebtedness. No Credit Party is in default in the payment of the principal of or interest on any Indebtedness in excess of $50,000 or under any instrument or agreement under or subject to which any Indebtedness in excess of $50,000 has been issued and no event has occurred under the provisions of any such instrument or agreement which with or without the lapse of time or the giving of notice, or both, constitutes or would constitute an event of default thereunder.

Default of Indebtedness. No Credit Party is in default in the payment of the principal of or interest on any Indebtedness in excess (exclusive of $50,000 trade debt) or under any instrument or agreement under or subject to which any Indebtedness in excess (exclusive of $50,000 trade debt) has been issued and no event has occurred under the provisions of any such instrument or agreement which that, with or without the lapse of time or the giving of notice, or both, constitutes or would constitute an event of default thereunder.

Default of Indebtedness. No Credit Party is Parties are not in default in the payment of the principal of or interest on any Indebtedness in excess of $50,000 or under any instrument or agreement under or subject to which any Indebtedness in excess of $50,000 has been issued and no event has occurred under the provisions of any such instrument or agreement which with or without the lapse of time or the giving of notice, or both, constitutes or would constitute an event of default thereunder.

Default of Indebtedness. No None of the Credit Party Parties is in default in the payment of the principal of or interest on any Indebtedness in excess of $50,000 or under any instrument or agreement under or subject to which any Indebtedness in excess of $50,000 has been issued and no event has occurred under the provisions of any such instrument or agreement which with or without the lapse of time or the giving of notice, or both, constitutes or would constitute an event of default thereunder, other than trade payables which are outstanding beyond their terms in the ordinary course of the Credit Parties' businesses.