Common use of Default on Other Debt Clause in Contracts

Default on Other Debt. The Borrower or any Subsidiary fails to make payment when due on any indebtedness for borrowed money in an aggregate principal amount in excess of One Hundred Thousand Dollars ($100,000) at the time outstanding (after giving effect to any applicable grace periods); or any default shall occur with respect to any such indebtedness, 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 a trustee to cause (whether or not such holder or trustee elects to cause) such indebtedness, or portion thereof, to become due prior to its stated maturity or prior to its regularly scheduled dates of payment and such Default remains uncured for a period of thirty (30) days; or

Default on Other Debt. The Borrower or any Subsidiary fails to make payment when due on any indebtedness for borrowed money in an aggregate principal amount in excess of One Hundred Thousand Dollars ($100,000) at the time outstanding (after giving effect to any applicable grace periods); or any default shall occur with respect to any such indebtedness, 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 a trustee to cause (whether or not such holder or trustee elects to cause) such indebtedness, or portion thereof, to become due prior to its stated maturity or prior to its regularly scheduled dates of payment and such Default default remains uncured for a period of thirty (30) days; or