Common use of DEFAULT UNDER OTHER DEBT AND AGREEMENTS Clause in Contracts

DEFAULT UNDER OTHER DEBT AND AGREEMENTS. (a) A default shall occur in the payment when due (subject to any applicable notice requirement or grace period), whether by acceleration or otherwise, of any Debt (other than Debt described in Section 11.1) of any Loan Party or any of its Material Subsidiaries having a principal amount (including undrawn or committed or available amounts), individually or in the aggregate, in excess of $15,000,000, or a default shall occur in the performance or observance of any covenant, or obligation with respect to such Debt, or any other event shall occur or condition exist under any agreement relating to such Debt the effect of which default, condition or event is to cause, or to permit the holder or holders of such Debt (or any trustee or agent for such holders) to cause (with the giving of notice if required or lapse of time or both), such Debt to become due and payable prior to its expressed maturity (whether by acceleration, redemption, repurchase or otherwise); provided, that no Default will result from a Rating Decline Offer (as such term is defined in the Senior Note Indentures), or the event causing such offer, under the Senior Notes unless one or more holders of Senior Note(s) elect to exercise its or their rights to have all or any portion of their Senior Notes repurchased by Borrower.

DEFAULT UNDER OTHER DEBT AND AGREEMENTS. (a) A default shall occur in the payment when due (subject to any applicable notice requirement or grace period), whether by acceleration or otherwise, of any Debt (other than Debt described in Section SECTION 11.1) of any Loan Party or any of its Material Subsidiaries having a principal amount (including undrawn or committed or available amounts), individually or in the aggregate, in excess of $15,000,000, or a default shall occur in the performance or observance of any covenant, obligation or obligation condition with respect to such Debt, or any other event shall occur or condition exist under any agreement relating to such Debt the effect of which default, condition or event is to cause, or to permit the holder or holders of such Debt (or any trustee or agent for such holders) to cause (with the giving of notice if required or lapse of time or both), such Debt to become due and payable prior to its expressed maturity NBPLP CREDIT AGREEMENT (whether by acceleration, redemption, repurchase or otherwise); provided, that no Default will result from a Rating Decline Offer (as such term is defined in the Senior Note Indentures)Offer, or the event causing such offer, under the Borrower's 8-7/8% Senior Notes due 2010 (the "SENIOR NOTES") unless one or more holders of Senior Note(s) elect to exercise its or their rights to have all or any portion of their Senior Notes repurchased by Borrower (as used herein Rating Decline Offer has the meaning assigned in Borrower.'s Indenture for the 8-7/8% Senior Notes due 2010); or

DEFAULT UNDER OTHER DEBT AND AGREEMENTS. (a) A default shall occur in the payment when due (subject to any applicable notice requirement or grace period), whether by acceleration or otherwise, of any Debt (other than Debt described in Section 11.1) of any Loan Party or any of its Material Subsidiaries having a principal amount (including undrawn or committed or available amounts), individually or in the aggregate, in excess of $15,000,000, or a default shall occur in the performance or observance of any covenant, or obligation with respect to such Debt, or any other event shall occur or condition exist under any agreement relating to such Debt the effect of which default, condition or event is to cause, or to permit the holder or holders of such Debt (or any trustee or agent for such holders) to cause (with the giving of notice if required or lapse of time or both), such Debt to become due and payable prior to its expressed maturity (whether by acceleration, redemption, repurchase or otherwise); provided, that no Default will result from a Rating Decline Offer (as such term is defined in the Senior Note IndenturesIndenture), or the event causing such offer, under the Borrower's 8-7/8% Senior Notes due 2010 (the "SENIOR NOTES") unless one or more holders of Senior Note(s) elect to exercise its or their rights to have all or any portion of their Senior Notes repurchased by Borrower; and provided further, that no Default will result from a Rating Decline Offer (as such term is defined in the 2001 Senior Note Indenture), or the event causing such offer, under the 2001 Senior Notes, unless one or more holders of 2001 Senior Notes elect to exercise its or their rights to have all or any portion of their 2001 Senior Notes repurchased by Borrower.

DEFAULT UNDER OTHER DEBT AND AGREEMENTS. (a) A default shall occur in the payment when due (subject to any applicable notice requirement or grace period), whether by acceleration or otherwise, of any Debt (other than Debt described in Section SECTION 11.1) of any Loan Party or any of its Material Subsidiaries having a principal amount (including undrawn or committed or available amounts), individually or in the aggregate, in excess of $15,000,000, or a default shall occur in the performance or observance of any covenant, obligation or obligation condition with respect to such Debt, or any other event shall occur or condition exist under any agreement relating to such Debt the effect of which default, condition or event is to cause, or to permit the holder or holders of such Debt (or any trustee or agent for such holders) to cause (with the giving of notice if required or lapse of time or both), such Debt to become due and payable prior to its expressed maturity (whether by acceleration, redemption, repurchase or otherwise); provided, that no Default will result from a Rating Decline Offer (as such term is defined in the Senior Note Indentures)Offer, or the event causing such offer, under the Borrower's 8-7/8% Senior Notes due 2010 (the "SENIOR NOTES") unless one or more holders of Senior Note(s) elect to exercise its or their rights to have all or any portion of their Senior Notes repurchased by Borrower (as used herein Rating Decline Offer has the meaning assigned in Borrower.'s Indenture for the 8-7/8% Senior Notes due 2010); or