Common use of Default on Other Indebtedness Clause in Contracts

Default on Other Indebtedness. (i) a default shall occur in the payment of any amount when due (subject to any applicable grace or cure period), whether by acceleration or otherwise, of any principal or stated amount of, or interest or fees on, any Indebtedness (other than the Obligations) of any Credit Party or Subsidiary having a principal or stated amount, individually or in the aggregate, in excess of $1,000,000, or a default shall occur in the performance or observance of any obligation or condition with respect to any such Indebtedness if the effect of such default is to accelerate the maturity of such Indebtedness, or (ii) any Indebtedness of any Credit Party or Subsidiary having a principal or stated amount, individually or in the aggregate, in excess of $1,000,000 shall otherwise be required to be prepaid, redeemed, purchased or defeased, or require an offer to purchase or defease such Indebtedness to be made, prior to its expressed maturity; provided, further, that, an Event of Default under this clause (f) caused by the occurrence of a breach or default with respect to Indebtedness in excess of the $1,000,000 shall be cured for purposes of this Agreement upon the Person asserting such breach or default waiving such breach or default in writing or such Person delivering written notice to the applicable Credit Party or Subsidiary that such breach or default has been cured in accordance with the terms of such Indebtedness if, at the time of such waiver or such cure neither the Administrative Agent nor the Lenders has exercised any remedies with respect to such Event of Default.

Default on Other Indebtedness. (i) a A Loan Party or Subsidiary thereof shall default shall occur in the payment of any amount when due (subject to any applicable grace or cure period), whether by acceleration or otherwise, of any principal or stated amount of, or interest or fees onon any Material Indebtedness, any Indebtedness (other than the Obligations) of any Credit or a Loan Party or Subsidiary having a principal or stated amount, individually or in the aggregate, in excess of $1,000,000, or a thereof shall default shall occur in the performance or observance of any covenant, obligation or condition with respect to any such Material Indebtedness if and the effect of such default is to accelerate the maturity of such Material Indebtedness or to permit the holder or holders of such Material Indebtedness, or any trustee or agent for such holders, to cause or declare any such Material Indebtedness to become immediately due and payable, or to require any such Material Indebtedness to be or prepaid, redeemed, purchased or defeased, or to require an offer to purchase or defease any such Material Indebtedness to be made, prior to its expressed maturity, or (ii) any Material Indebtedness of any Credit Party or Subsidiary having a principal or stated amount, individually or in the aggregate, in excess of $1,000,000 shall otherwise be required to be prepaid, redeemed, purchased or defeased, or require an offer to purchase or defease such Material Indebtedness to be made, prior to its expressed maturity; provided, further, that, an Event of Default under that this clause (fg) caused shall not apply to (x) secured Indebtedness permitted under this Loan Agreement that becomes due as a result of the Disposition (including as a result of a casualty or condemnation event) of the property or assets securing such Indebtedness, to the extent such Indebtedness is promptly repaid in full with the proceeds thereof, and (y) guarantees of Indebtedness that are satisfied promptly upon demand; provided further that this clause (g) shall not apply if the relevant circumstance or event has been remedied or waived by the occurrence of a breach or default with respect to Indebtedness in excess of the $1,000,000 shall be cured for purposes of this Agreement upon the Person asserting such breach or default waiving such breach or default in writing or such Person delivering written notice to the applicable Credit Party or Subsidiary that such breach or default has been cured in accordance with the terms holders of such Material Indebtedness if, at the time prior to any exercise of such waiver or such cure neither the Administrative Agent nor the Lenders has exercised any remedies with respect pursuant to such Event of DefaultSection 10.02.

Default on Other Indebtedness. (i) a A Loan Party or Subsidiary thereof shall default shall occur in the payment of any amount when due (subject to any applicable grace or cure period), whether by acceleration or otherwise, of any principal or stated amount of, or interest or fees onon any Material Indebtedness, any Indebtedness (other than the Obligations) of any Credit or a Loan Party or Subsidiary having a principal or stated amount, individually or in the aggregate, in excess of $1,000,000, or a thereof shall default shall occur in the performance or observance of any covenant, obligation or condition with respect to any such Material Indebtedness if and the effect of such default is to accelerate the maturity of such Material Indebtedness or to permit the holder or holders of such Material Indebtedness, or any trustee or agent for such holders, to cause or declare any such Material Indebtedness to become immediately due and payable, or to require any such Material Indebtedness to be or prepaid, redeemed, purchased or defeased, or to require an offer to purchase or defease any such Material Indebtedness to be made, prior to its expressed maturity, or (ii) any Material Indebtedness of any Credit Party or Subsidiary having a principal or stated amount, individually or in the aggregate, in excess of $1,000,000 shall otherwise be required to be prepaid, redeemed, purchased or defeased, or require an offer to purchase or defease such Material Indebtedness to be made, prior to its expressed maturity; provided, further, that, an Event of Default under that this clause (fg) caused by shall not apply to (x) secured Indebtedness permitted under this Loan Agreement that becomes due as a result of the occurrence Disposition (including as a result of a breach casualty or default with respect to Indebtedness in excess condemnation event) of the $1,000,000 shall be cured for purposes of this Agreement upon the Person asserting property or assets securing such breach or default waiving such breach or default in writing or such Person delivering written notice Indebtedness, to the applicable Credit Party or Subsidiary that extent such breach or default has been cured Indebtedness is promptly repaid in accordance full with the terms proceeds thereof, and (y) guarantees of such Indebtedness if, at the time of such waiver or such cure neither the Administrative Agent nor the Lenders has exercised any remedies with respect to such Event of Defaultthat are satisfied promptly upon demand.

Default on Other Indebtedness. (i) a default shall occur in the payment of any amount when due (subject to any applicable grace or cure period), whether by acceleration or otherwise, of any principal or stated amount of, or interest or fees on, any Indebtedness (other than the Obligations) of any Credit Party or Restricted Subsidiary having a principal or stated amount, individually or in the aggregate, in excess of $1,000,000, or a default shall occur in the performance or observance of any obligation or condition with respect to any such Indebtedness if the effect of such default is to accelerate the maturity of such Indebtedness, or (ii) any Indebtedness of any Credit Party or Restricted Subsidiary having a principal or stated amount, individually or in the aggregate, in excess of $1,000,000 shall otherwise be required to be prepaid, redeemed, purchased or defeased, or require an offer to purchase or defease such Indebtedness to be made, prior to its expressed maturity; provided, further, further that, an Event of Default under this clause (f) caused by the occurrence of a breach or default with respect to Indebtedness in excess of the $1,000,000 shall be cured for purposes of this Agreement upon the Person asserting such breach or default waiving such breach or default in writing or such Person delivering written notice to the applicable Credit Party or Restricted Subsidiary that such breach or default has been cured in accordance with the terms of such Indebtedness if, at the time of such waiver or such cure neither the Administrative Agent nor the Lenders has exercised any remedies with respect to such Event of Default.

Default on Other Indebtedness. (i) a default shall occur in the payment of any amount when due (subject to any applicable grace or cure period), whether by acceleration or otherwise, of any principal or stated amount of, or interest or fees on, any Indebtedness (other than the Obligations) of owing by any Credit Party or any Subsidiary thereof having a principal or stated amount, individually or in the aggregate, in excess of $1,000,0006,000,000, or a default shall occur in the performance or observance of any obligation or condition with respect to any such Indebtedness if the effect of such default is to accelerate the maturity of such Indebtedness, or (ii) any Indebtedness of any Credit Party or any Subsidiary thereof having a principal or stated amount, individually or in the aggregate, in excess of $1,000,000 6,000,000 shall otherwise be required to be prepaid, redeemed, purchased or defeased, or require an offer to purchase or defease such Indebtedness to be made, prior to its expressed maturity, or (iii) an Event of Default (as defined in the Pennsylvania Mortgage Credit Agreement) shall occur; provided, further, that, provided that an Event of Default under this clause (fSection 10.01(f)(i) or 10.01(f)(ii) caused by the occurrence of a breach or default with respect to Indebtedness in excess of the $1,000,000 6,000,000 shall be cured for purposes of this Agreement upon the Person asserting such breach or default waiving such breach or default in writing or such Person delivering written notice to the applicable Credit Party or any Subsidiary thereof that such breach or default has been cured in accordance with the terms of such Indebtedness if, at the time of such waiver or such cure neither the Administrative Agent nor the Lenders has exercised any remedies with respect to such Event of Default.

Default on Other Indebtedness. (i) a A default shall occur in the payment of any amount when due (subject to any applicable grace or cure period)period or, whether by acceleration or otherwise, of any principal Indebtedness of the Borrower or stated amount of, or interest or fees on, any Indebtedness of its Subsidiaries (other than Aladdin Music and AMH) (other than Indebtedness described in Section 8.1.1 or unsecured Indebtedness of the ObligationsBorrower or any such Subsidiary incurred in the ordinary course of business (including open accounts extended by suppliers on normal trade terms in connection with purchases of goods and services, but excluding, however, (x) Indebtedness incurred through the borrowing of any Credit Party or Subsidiary money and (y) Contingent Liabilities in respect of Indebtedness other than Indebtedness of the nature referred to in clause (d) thereof)) having a principal or stated amount, individually or in the aggregate, in excess of $1,000,0002,000,000, or a default Default shall occur in the performance or observance of any obligation or condition with respect to any such Indebtedness (subject to any applicable grace period) if the effect of such default Default is to accelerate the maturity of any such Indebtedness or such Default shall continue unremedied for any applicable period of time sufficient to permit the holder or holders of such Indebtedness, or (ii) any trustee or agent for such holders, to cause or declare such Indebtedness of any Credit Party to become due and payable or Subsidiary having a principal or stated amount, individually or in the aggregate, in excess of $1,000,000 shall otherwise be required to require such Indebtedness to be prepaid, redeemed, purchased or defeased, or require to cause an offer to purchase or defease redeem such Indebtedness to be required to be made, prior to its expressed maturity; provided, further, that, an Event of Default under this clause (f) caused by the occurrence of a breach or default with respect to Indebtedness in excess of the $1,000,000 shall be cured for purposes of this Agreement upon the Person asserting such breach or default waiving such breach or default in writing or such Person delivering written notice to the applicable Credit Party or Subsidiary that such breach or default has been cured in accordance with the terms of such Indebtedness if, at the time of such waiver or such cure neither the Administrative Agent nor the Lenders has exercised any remedies with respect to such Event of Default.

Default on Other Indebtedness. (i) a A default shall occur in the payment of any amount when due (subject to any applicable grace period or cure period), whether by acceleration or otherwise, of any principal or stated amount of, or interest or fees on, any Indebtedness (other than the Obligations) of any Credit Party Party, or Subsidiary of any Credit Party having a principal or stated amount, individually or in the aggregate, in excess of $1,000,000250,000, or a default shall occur in the performance or observance of any obligation or condition with respect to any such Indebtedness if the effect of such default is to accelerate the maturity of such Indebtedness or to permit the holder or holders of such Indebtedness, or any trustee or agent for such holders, to cause or declare such Indebtedness to become immediately due and payable, (ii) a default shall occur (after expiration of any available grace or cure periods) in the performance or observance of any obligation or condition with respect to any Indebtedness of which has been subordinated (whether as to payment or Lien priority) to the Obligations or the Administrative Agent’s Liens or any Credit Party or Subsidiary having a principal or stated amount, individually or in the aggregate, in excess of $1,000,000 such Indebtedness shall otherwise be required to be or prepaid, redeemed, purchased or defeased, or require an offer to purchase or defease such Indebtedness to be made, prior to its expressed maturity; provided, further, that, maturity or (iii) an Event of Default under this clause (f) caused by the occurrence of a breach or default with respect to Indebtedness in excess of the $1,000,000 shall be cured for purposes of this Agreement upon the Person asserting such breach or default waiving such breach or default in writing or such Person delivering written notice to the applicable Credit Party or Subsidiary that such breach or default has been cured in accordance with the terms of such Indebtedness if, at the time of such waiver or such cure neither the Administrative Agent nor the Lenders has exercised any remedies with respect to such “Event of Default” (as defined in any of the Investor Notes) shall have occurred and be continuing under such Investor Note.

Default on Other Indebtedness. (i) a A default shall occur in the payment of any amount when due (subject to any applicable grace or cure period), whether by acceleration or otherwise, of any principal or stated amount of, or interest or fees on, any Recourse Indebtedness (other than the ObligationsIndebtedness described in Section 8.1.1 or Indebtedness with respect to Foreign Subsidiaries) of any Credit Party or Subsidiary the Consolidated Group having a principal or stated amount, individually or in the aggregate, in excess of $1,000,00025,000,000, or a default shall occur in the performance or observance of any obligation or condition, or any other event shall occur or condition shall exist, in either case, with respect to such Recourse Indebtedness (subject to any such Indebtedness applicable grace period) if the effect of such default or other event or condition is to accelerate the maturity of any such Indebtedness, Recourse Indebtedness or (ii) any cause such Recourse Indebtedness of any Credit Party to become due and payable or Subsidiary having a principal or stated amount, individually or in the aggregate, in excess of $1,000,000 shall otherwise be required to require such Recourse Indebtedness to be prepaid, redeemed, purchased or defeased, or require to cause an offer to purchase or defease such Recourse Indebtedness to be required to be made, prior to its expressed maturity; provided, furtherhowever, that, an Event of Default under this clause (f) caused by the occurrence of a breach or default with respect that payments required pursuant to Indebtedness in excess of the $1,000,000 shall be cured for purposes of this Agreement upon the Person asserting such breach or default waiving such breach or default in writing or such Person delivering written notice to the applicable Credit Party or Subsidiary that such breach or default has been cured in accordance with the terms of such Indebtedness ifan instrument or agreement otherwise permitted hereunder, at that are not the time result of such waiver a default in the performance or such cure neither the Administrative Agent nor the Lenders has exercised observance of any remedies with respect to such Event of Defaultobligation or condition, shall not be deemed a default under this Section 8.1.5.

Default on Other Indebtedness. (i) a default shall occur in the payment of any amount when due (subject to any applicable grace or cure period), whether by acceleration or otherwise, of any principal or stated amount of, or interest or fees on, any Indebtedness (other than the Obligations) of any Credit Party or Subsidiary having a principal or stated amount, individually or in the aggregate, in excess of $1,000,0002,500,000, or a default shall occur in the performance or observance of any obligation or condition with respect to any such Indebtedness if the effect of such default is to accelerate the maturity of such Indebtedness, or (ii) any Indebtedness of any Credit Party or Subsidiary having a principal or stated amount, individually or in the aggregate, in excess of $1,000,000 2,500,000 shall otherwise be required to be prepaid, redeemed, purchased or defeased, or require an offer to purchase or defease such Indebtedness to be made, prior to its expressed maturitymaturity or, (iii) an Event of Default (as defined in the Pennsylvania Mortgage Credit Agreement) shall occur or (iv) an Event of Default (as defined in the Vireo Credit Agreement) shall occur; provided, further, that, that an Event of Default under clauses (i) or (ii) of this clause (f) caused by the occurrence of a breach or default with respect to Indebtedness in excess of the $1,000,000 2,500,000 shall be cured for purposes of this Agreement upon the Person asserting such breach or default waiving such breach or default in writing or such Person delivering written notice to the applicable Credit Party or Subsidiary that such breach or default has been cured in accordance with the terms of such Indebtedness if, at the time of such waiver or such cure neither the Administrative Agent nor the Lenders has exercised any remedies with respect to such Event of Default.