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

Default on Other Debt or Security. The Borrower, 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 indebtedness or security of the Borrower, 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 Borrower or of any Subsidiary or Guarantor) to elect (whether or not such holder or trustee does elect) a majority of the managers or directors of the Borrower or of such Subsidiary or Guarantor; or

Default on Other Debt or Security. The Borrower, 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 indebtedness or security of the Borrower, 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 Stock of the Borrower or of any Subsidiary or GuarantorSubsidiary) to elect (whether or not such holder or trustee does elect) a majority of the managers or directors on the board of directors of the Borrower or of such Borrower, any Subsidiary or any Guarantor; or

Default on Other Debt or Security. The Borrower, 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 indebtedness or security of the Borrower, 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 or membership interest Stock of the such Borrower or of any Subsidiary or GuarantorSubsidiary) to elect (whether or not such holder or trustee does elect) a majority of the managers or directors on the board of directors of the such Borrower or of such Subsidiary or Guarantorany Subsidiary; or

Default on Other Debt or Security. The BorrowerSeller, 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 BorrowerSeller, 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 Borrower Seller or of any Subsidiary or GuarantorSubsidiary) to elect (whether or not such holder or trustee does elect) a majority of the managers or directors on the board of directors of the Borrower Seller or of such Subsidiary or GuarantorSubsidiary; or

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

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