Default on Other Debt or Security. The Company or any Material Subsidiary shall (i) fail to pay any principal of or interest on any Debt (other than the Obligation) the principal or face amount of which exceeds $50,000,000 when due (or, where permitted, within any applicable grace period), whether by scheduled maturity, required prepayment, acceleration, demand or otherwise and such default continues unremedied for five Business Days after such due date or applicable grace period, or (ii) fail to perform or observe any other provision (other than a provision that is substantially identical to a provision in this Agreement) contained in any agreement securing or relating to such Debt (or any other breach or default under such Debt agreement occurs) if the effect of such failure to perform or observe such other provisions (or breach or default) is to cause such Debt to become due prior to its stated maturity; provided, however, that if any such failure, breach or default shall be waived or cured (as evidenced by a writing from such holder or trustee) then, to the extent of such waiver or cure, the Event of Default hereunder by reason of such failure, breach or default shall be deemed likewise to have been thereupon waived or cured.
Default on Other Debt or Security. The Seller, any Subsidiary or any Guarantor fails to make any payment due on any indebtedness or security (as "security" is defined in the Securities Act of 1933, as amended) or any event shall occur or any condition shall exist in respect of any such indebtedness or security of the Seller, any Subsidiary or any Guarantor, or under any agreement securing or relating to such indebtedness or security, the effect of which is (i) to cause or to permit any holder of such indebtedness or other security or a trustee to cause (whether or not such holder or trustee elects to cause) such indebtedness or security, or a portion thereof, to become due prior to its stated maturity or prior to its regularly scheduled dates of payment, or (ii) to permit a trustee or the holder of any security (other than common stock of the Seller or any Subsidiary) to elect (whether or not such holder or trustee does elect) a majority of the directors on the board of directors of the Seller or such Subsidiary; or
Default on Other Debt or Security. Subject to any applicable grace period or waiver prior to any due date, (i) Borrower or any Guarantor fails to make any payment due on any of its Debt, in excess of $250,000.00, and (ii) any trustee or any holder of such Debt accelerates all of such debt so as to become due prior to its stated maturity or its regularly scheduled dates of payment; or (h) Undischarged Judgments. Any court or other governmental authority renders judgment against the Borrower or any Guarantor for the payment of money in excess of $250,000, payment of which is not fully covered by valid collectible insurance or for which execution is not stayed by bond or otherwise; or (
Default on Other Debt or Security. Subject to any applicable grace period, Borrower fails to make any payment due on any indebtedness or security, or any event shall occur or any condition shall exist in respect of any indebtedness or security of Borrower or under any agreement securing or relating to such indebtedness or security, the effect of which is to cause or to permit any holder of such indebtedness or other security or a trustee to cause (whether or not such holder or trustee elects to cause) such indebtedness or security, or a portion thereof, to become due prior to its stated maturity or prior to its regularly scheduled date of payment; or
Default on Other Debt or Security. Any Company or any Guarantor fails to make any payment due on any Debt or any default shall occur in respect of any Debt of any Company or any Guarantor; or
Default on Other Debt or Security a. Any Material Obligor or (where such failure would, individually or in the aggregate, be reasonably likely to cause a Material Adverse Effect) any other Company (other than Pool Alaska, Inc.) fails or refuses to make any payment due on any Debt or security or any event shall occur or any condition shall exist in respect of any of its Debt or securities or under any agreement securing or relating to such Debt or securities, the effect of which is (i) to cause any holder of such Debt or securities or a trustee to cause any of such Debt or securities to become due prior to the stated maturity or prior to the regularly scheduled dates of payment, or (ii) to permit a trustee or the holder of any securities (other than common stock) to elect (whether or not such trustee or holder does elect) a majority of the directors on the board of directors of such entity. "Security" has the meaning given such term in the Securities Act of 1933, as amended.
Default on Other Debt or Security. Sublessee fails to make any payment due on any indebtedness or any event shall occur or any condition shall exist in respect of any indebtedness of the Sublessee or under any agreement securing or relating to such indebtedness, the effect of which is to cause or to permit any holder of such indebtedness or other security or a trustee to cause (whether or not such holder or trustee elects to cause) such indebtedness, or a portion thereof, to become due prior to its stated maturity or prior to its regularly scheduled dates of payment and the default exceeds, when aggregated with all other such defaults, Twenty-Five Thousand Dollars ($25,000.00); or Undischarged Judgments; Criminal Prosecutions, Etc. If any one or more judgments (in the aggregate at any one time outstanding) for the payment of money in excess of Twenty-Five Thousand Dollars ($25,000.00) are rendered by any court or other governmental body against the Sublessee which is not fully covered by valid collectible insurance and the Sublessee does not discharge the same or provide for its discharge in accordance with its terms, or procure a stay of execution thereof within the applicable appeal period and within said appeal period following the date of entry thereof or such longer period during which execution of such judgment shall have been stayed, appeal therefrom and cause the execution thereof to be stayed during such appeal while providing such reserves therefor as may be required under GAAP; or the Sublessee (or any Directors or executive officer thereof), is indicted for or convicted of any felony or imprisoned for any reason for more than five (5) days; or
Default on Other Debt or Security. The Company or any Material Subsidiary shall (i) fail to pay any principal of or interest on any Debt (other than the Obligation) the principal or face amount of which exceeds $25,000,000 when due (or, where permitted, within any applicable grace period), whether by scheduled maturity, required prepayment, acceleration, demand or otherwise and such default continues unremedied for five Business Days after such due date or applicable grace period, or (ii) fail to perform or observe any other provision (other than a provision that is substantially identical to a provision in this Agreement)
Default on Other Debt or Security. Borrower or any Loan Party fails to make any payment due on any Indebtedness or security (as “security” is defined in the Securities Act of 1933, as amended) or any event shall occur or any condition shall exist in respect of any Indebtedness or security of Borrower or any Loan Party or under any agreement securing or relating to such Indebtedness or security, the effect of which is (i) to cause or to permit any holder of such Indebtedness or other security or a trustee to cause (whether or not such holder or trustee elects to cause) such Indebtedness or security, or a portion thereof, to become due prior to its stated maturity or prior to its regularly scheduled dates of payment, or (ii) to permit a trustee or the holder of any security (other than common Stock of Borrower or any Subsidiary) to elect (whether or not such holder or trustee does elect) a majority of the directors or managers of Borrower or any Loan Party; or
Default on Other Debt or Security. Notwithstanding the provisions of SECTION 8.6 of the Revolving Credit Agreement and SECTION 8.6(A) of the Term Loan Agreement, Lenders and Agent agree that if the DA&S Subordinated Note in the amount of $1,000,000 payable to Alexander Family Trust is accelerated pursuant to the second paragraph of Section 4.1 thereof, then there shall be no Default under the Revolving Credit Agreement and the Term Loan Agreement, provided that Borrower pays such accelerated debt within 7 Business Days.
