Common use of Default on Other Debt or Security Clause in Contracts

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. The SellerBorrower, 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 SellerBorrower, 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 Stock of the Seller Borrower 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 Borrower, any Subsidiary or such Subsidiaryany Guarantor; or

Default on Other Debt or Security. The Seller, Any Borrower or 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 Borrower or 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 Stock of the Seller such Borrower 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 such Borrower or such any Subsidiary; or

Default on Other Debt or Security. The SellerBorrower, or any Subsidiary 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 SellerBorrower, any Subsidiary 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 Borrower 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 Borrower, any Subsidiary, or such Subsidiaryany Guarantor; or

Default on Other Debt or Security. The SellerBorrower, 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 SellerBorrower, 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 or membership interest of the Seller Borrower or of any SubsidiarySubsidiary or Guarantor) to elect (whether or not such holder or trustee does elect) a majority of the directors on the board of managers or directors of the Seller Borrower or of such SubsidiarySubsidiary or Guarantor; or

Default on Other Debt or Security. The SellerAny Borrower, any Subsidiary Guarantor or any Guarantor of their Subsidiaries 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 Borrower or 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 any Borrower, Guarantor or any such Subsidiary; or