Common use of Default Under Other Indebtedness Clause in Contracts

Default Under Other Indebtedness. (i) SCIS, Caterair, any Significant Subsidiary of SCIS or Caterair or any combination of two or more Non-Significant Subsidiaries of SCIS which at the time of determination own a combined basis more than 10% of the consolidated assets of SCIS (determined on a basis consistent with the definition of "Significant Subsidiary") shall (x) default in any payment of any Indebtedness (other than the Obligations and any Indebtedness arising under or in connection with the SCIS Credit Agreement) beyond the period of grace, if any, provided in the instrument or agreement under which such Indebtedness was created or (y) default in the observance or performance of any agreement or condition relating to any Indebtedness (other than the Obligations and any Indebtedness arising under or in connection with the SCIS Credit Agreement) or contained in any instrument or agreement evidencing, securing or relating thereto, or any other event shall occur or condition exist, the effect of which default or other event or condition is to cause, or would permit the holder or holders of such Indebtedness (or a trustee or agent on behalf of such holder or holders) to cause (determined without regard to whether any notice is required), any such Indebtedness to become due prior to its stated maturity, or (ii) any Indebtedness (other than the Obligations and any Indebtedness arising under or in connection with the SCIS Credit Agreement) of SCIS, Caterair, any Significant Subsidiary of SCIS or Caterair or any combination of two or more Non-Significant Subsidiaries of SCIS which at the time of determination own a combined basis more than 10% of the consolidated assets of SCIS (determined on a basis consistent with the definition of "Significant Subsidiary") shall be declared to be due and payable, or required to be prepaid other than by a regularly scheduled required prepayment, prior to the stated maturity thereof, provided that it shall not be a Default or an Event of Default under this Section 8.05 unless the aggregate principal amount of all Indebtedness as described in preceding clauses (i) and (ii) is at least $15,000,000; or

Default Under Other Indebtedness. (i) SCISOFSI, CaterairCaterair Holdings, the Borrower, the Designated Onex Sub or any Significant Subsidiary of SCIS Caterair Holdings or Caterair or any combination of two or more Non-Significant Subsidiaries of SCIS which at the time of determination own a combined basis more Borrower (other than 10% of the consolidated assets of SCIS (determined on a basis consistent with the definition of "Significant an Immaterial Subsidiary") shall (x) default in any payment of any Indebtedness (other than the Obligations and any Indebtedness arising under or in connection with the SCIS Credit AgreementCaterair Holdings Secured Note but only to the extent that there is sufficient cash collateral to satisfy in full all obligations in respect of the Caterair Holdings Secured Note) beyond the period of grace, if any, provided in the instrument or agreement under which such Indebtedness was created or (y) default in the observance or performance of any agreement or condition relating to any Indebtedness (other than the Obligations and any Indebtedness arising under or in connection with the SCIS Credit AgreementCaterair Holdings Secured Note but only to the extent that there is sufficient cash collateral to satisfy in full all obligations in respect of the Caterair Holdings Secured Note) or contained in any instrument or agreement evidencing, securing or relating thereto, or any other event shall occur or condition exist, the effect of which default or other event or condition is to cause, or would permit the holder or holders of such Indebtedness (or a trustee or agent on behalf of such holder or holders) to cause (determined without regard to whether any notice is required), any such Indebtedness to become due prior to its stated maturity, or (ii) any Indebtedness (other than the Obligations and any Indebtedness arising under or in connection with the SCIS Credit AgreementCaterair Holdings Secured Note but only to the extent that there is sufficient cash collateral to satisfy in full all obligations in respect of the Caterair Holdings Secured Note) of SCISOFSI, CaterairCaterair Holdings, the Borrower, the Designated Onex Sub or any Significant Subsidiary of SCIS Caterair Holdings or Caterair or any combination of two or more Non-Significant Subsidiaries of SCIS which at the time of determination own a combined basis more Borrower (other than 10% of the consolidated assets of SCIS (determined on a basis consistent with the definition of "Significant an Immaterial Subsidiary") shall be declared to be due and payable, or required to be prepaid other than by a regularly scheduled required prepayment, prior to the stated maturity thereof, provided that it shall not be a Default or an Event of Default under this Section 8.05 10.04 unless the aggregate principal amount of all Indebtedness as described in preceding clauses (i) and (ii) is at least $15,000,0005,000,000; or

Default Under Other Indebtedness. (i) SCIS, Caterair, Failure of any Significant Subsidiary of SCIS or Caterair Credit Party or any combination of two their respective Subsidiaries to pay when due any principal of or interest on or any other amount, including any payment in settlement, payable in respect of (A) the ABL Loan Documents, (B) the Senior Unsecured Notes Indenture or (C) one or more Non-Significant Subsidiaries items of SCIS which at the time of determination own a combined basis more than 10% of the consolidated assets of SCIS (determined on a basis consistent with the definition of "Significant Subsidiary") shall (x) default in any payment of any Indebtedness (other than the Obligations and any Indebtedness arising under referred to in Section 8.1(a)) with an aggregate principal amount (or Net Xxxx-to-Market Exposure) of $50,000,000 or more, in connection with the SCIS Credit Agreement) each case beyond the period of graceoriginally specified grace period, if any, provided in the instrument or agreement under which such Indebtedness was created therefor; or (yii) breach or default in by any Credit Party or any of their respective Subsidiaries with respect to any other material term of, or the observance or performance occurrence of any agreement other event or condition in respect of, (1) one or more items of Indebtedness referred to in clause (i) above or (2) any loan agreement, mortgage, indenture or other agreement relating to any such item(s) of Indebtedness (other than than, with respect to Indebtedness consisting of hedging obligations, termination events or equivalent events pursuant to the Obligations terms of such hedging obligations and not as a result of any Indebtedness arising under or in connection with the SCIS Credit Agreement) or contained in any instrument or agreement evidencing, securing or relating theretodefault thereunder by theany Borrower, or any other event shall occur Subsidiary Guarantor or condition existany Restricted Subsidiary), in each case beyond the originally specified grace period, if any, provided therefor, if the effect of which default or other such breach, default, event or condition is to cause, or would to permit the holder or holders of such that Indebtedness (or a trustee or agent on behalf of such holder or holders) to cause (determined without regard to whether any notice is required)cause, any such that Indebtedness to become or be declared due and payable or to require the prepayment, purchase, redemption or defeasance thereof, prior to its stated maturity, maturity or (ii) any Indebtedness (other than the Obligations and any Indebtedness arising under or in connection with the SCIS Credit Agreement) of SCIS, Caterair, any Significant Subsidiary of SCIS or Caterair or any combination of two or more Non-Significant Subsidiaries of SCIS which at the time of determination own a combined basis more than 10% of the consolidated assets of SCIS (determined on a basis consistent with the definition of "Significant Subsidiary") shall be declared to be due and payable, or required to be prepaid other than by a regularly scheduled required prepayment, prior to the stated maturity thereofof any underlying obligation, provided that it shall not be a Default or an Event of Default under this Section 8.05 unless as the aggregate principal amount of all Indebtedness as described in preceding clauses (i) and (ii) is at least $15,000,000case may be; or

Default Under Other Indebtedness. Any member of the Borrower Group (i) SCIS, Caterair, shall fail to pay when due any Significant Subsidiary principal of SCIS or Caterair interest on or any combination other amount payable in respect of two one or more Non-Significant Subsidiaries items of SCIS which at the time of determination own a combined basis more than 10% of the consolidated assets of SCIS (determined on a basis consistent with the definition of "Significant Subsidiary") shall (x) default in any payment of any Indebtedness (other than the Obligations and any Indebtedness arising under referred to in Section 7.1) in an individual or in connection with the SCIS Credit Agreement) aggregate principal amount of $2,500,000 or more beyond the end of any grace period provided therefor; or (ii) shall breach or default in its obligations with respect to any other material term of grace(a) one or more items of Indebtedness in the individual or aggregate principal amounts referred to in clause (i) above or (b) any loan agreement, mortgage, indenture or other agreement relating to such item(s) of Indebtedness, if any, provided in the instrument or agreement under which such Indebtedness was created or (y) default in the observance or performance of any agreement or condition relating to any Indebtedness (other than the Obligations and any Indebtedness arising under or in connection with the SCIS Credit Agreement) or contained in any instrument or agreement evidencing, securing or relating thereto, or any other event shall occur or condition exist, the effect of which such breach or default or other event or condition is to cause, or would to permit the holder or holders of such that Indebtedness (or a trustee or agent on behalf of such holder or holders) to cause (determined without regard to whether any notice is required)cause, any such that Indebtedness to become or be declared due and payable prior to its stated maturitymaturity or the stated maturity of any underlying obligation, as the case may be (upon the giving or receiving of notice, lapse of time, both, or otherwise); provided, however, that, with respect to any Event of Default arising under clause (i) or (ii) any Indebtedness (other than of this Section 7.2 solely by virtue of an event of default that occurs under the Obligations and any Indebtedness arising under or in connection with the SCIS First Lien Credit Agreement, (x) such event of SCIS, Caterair, any Significant Subsidiary of SCIS or Caterair or any combination of two or more Non-Significant Subsidiaries of SCIS which at default under the time of determination own a combined basis more than 10% of the consolidated assets of SCIS (determined on a basis consistent with the definition of "Significant Subsidiary") shall First Lien Credit Agreement will only be declared to be due and payable, or required to be prepaid other than by a regularly scheduled required prepayment, prior to the stated maturity thereof, provided that it shall not be a Default or an Event of Default under this Section 8.05 unless 7.2 if the aggregate principal amount First Lien Obligations are declared to be due and payable prior to their stated maturity as a result of all Indebtedness as described in preceding clauses (i) such event of default under the First Lien Credit Agreement, and (iiy) the Event of Default that results under this Section 7.2 as a result of any such declaration under the First Lien Credit Agreement will be automatically waived if and as of the time that declaration of acceleration is at least $15,000,000rescinded or waived under the First Lien Credit Agreement; or

Default Under Other Indebtedness. (i) SCIS, Caterair, Failure of any Significant Subsidiary of SCIS or Caterair Credit Party or any combination of two their respective Subsidiaries to pay when due any principal of or interest on or any other amount, including any payment in settlement, payable in respect of (A) the ABL Loan Documents, (B) the Senior Unsecured Notes Indenture or (C) one or more Non-Significant Subsidiaries items of SCIS which at the time of determination own a combined basis more than 10% of the consolidated assets of SCIS (determined on a basis consistent with the definition of "Significant Subsidiary") shall (x) default in any payment of any Indebtedness (other than the Obligations and any Indebtedness arising under referred to in Section 8.1(a)) with an aggregate principal amount (or Net Xxxx-to-Market Exposure) of $50,000,000 or more, in connection with the SCIS Credit Agreement) each case beyond the period of graceoriginally specified grace period, if any, provided in the instrument or agreement under which such Indebtedness was created therefor; or (yii) breach or default in by any Credit Party or any of their respective Subsidiaries with respect to any other material term of, or the observance or performance occurrence of any agreement other event or condition in respect of, (1) one or more items of Indebtedness referred to in clause (i) above or (2) any loan agreement, mortgage, indenture or other agreement relating to any such item(s) of Indebtedness (other than than, with respect to Indebtedness consisting of hedging obligations, termination events or equivalent events pursuant to the Obligations terms of such hedging obligations and not as a result of any Indebtedness arising under or in connection with default thereunder by the SCIS Credit Agreement) or contained in any instrument or agreement evidencing, securing or relating theretoBorrower, or any other event shall occur Subsidiary Guarantor or condition existany Restricted Subsidiary), in each case beyond the originally specified grace period, if any, provided therefor, if the effect of which default or other such breach, default, event or condition is to cause, or would to permit the holder or holders of such that Indebtedness (or a trustee or agent on behalf of such holder or holders) to cause (determined without regard to whether any notice is required)cause, any such that Indebtedness to become or be declared due and payable or to require the prepayment, purchase, redemption or defeasance thereof, prior to its stated maturity, maturity or (ii) any Indebtedness (other than the Obligations and any Indebtedness arising under or in connection with the SCIS Credit Agreement) of SCIS, Caterair, any Significant Subsidiary of SCIS or Caterair or any combination of two or more Non-Significant Subsidiaries of SCIS which at the time of determination own a combined basis more than 10% of the consolidated assets of SCIS (determined on a basis consistent with the definition of "Significant Subsidiary") shall be declared to be due and payable, or required to be prepaid other than by a regularly scheduled required prepayment, prior to the stated maturity thereofof any underlying obligation, provided that it shall not be a Default or an Event of Default under this Section 8.05 unless as the aggregate principal amount of all Indebtedness as described in preceding clauses (i) and (ii) is at least $15,000,000case may be; or

Default Under Other Indebtedness. (i) SCISany Group Company (A) fails to make payment when due (whether by scheduled maturity, Caterairrequired prepayment, acceleration, demand or otherwise), regardless of amount, in respect of any Significant Subsidiary Indebtedness or Guaranty Obligation (other than in respect of SCIS or Caterair or any combination of two or more Non-Significant Subsidiaries of SCIS which at the time of determination own a combined basis more than 10% of the consolidated assets of SCIS (determined on a basis consistent with the definition of "Significant Subsidiary") shall (x) default in any payment of any Indebtedness outstanding under the Term Loan Documents and (other than the Obligations and any Indebtedness arising y) Swap Agreements) under or in connection with respect of the SCIS ABL Credit Agreement, the Bridge Notes, the Senior Subordinated Notes or any other Indebtedness or Guaranty Obligation having an aggregate principal amount (including undrawn committed or available amounts and including amounts owing to all creditors under any combined or syndicated credit arrangement) beyond the period of grace, if any, provided in the instrument or agreement under which such Indebtedness was created or (y) default in the observance or performance of any agreement or condition relating to any Indebtedness (other more than the Obligations and Threshold Amount, (B) fails to perform or observe any Indebtedness arising under other condition or in connection with the SCIS Credit Agreement) or contained in any instrument or agreement evidencing, securing or relating theretocovenant, or any other event shall occur or condition shall exist, under any agreement or instrument relating to any such Indebtedness or Guaranty Obligation, if the effect of which default or other such failure, event or condition is to cause, or would to permit the holder or holders or beneficiary or beneficiaries of such Indebtedness or Guaranty Obligation (or a trustee or agent on behalf of such holder or holders) holders or beneficiary or beneficiaries), without or without the giving or notice or lapse of time or both, to cause (determined without regard to whether any notice is required), any such Indebtedness to become be declared to be due and payable prior to its stated maturity, or such Guaranty Obligation to become payable, or cash collateral in respect thereof to be demanded or (ii) any Indebtedness (other than the Obligations and any Indebtedness arising under or in connection with the SCIS Credit Agreement) of SCIS, Caterair, any Significant Subsidiary of SCIS or Caterair or any combination of two or more Non-Significant Subsidiaries of SCIS which at the time of determination own a combined basis more than 10% of the consolidated assets of SCIS (determined on a basis consistent with the definition of "Significant Subsidiary"C) shall be declared required by the terms of such Indebtedness or Guaranty Obligation to be due and payable, offer to prepay or required to be prepaid other than by a regularly scheduled required prepayment, repurchase such Indebtedness or the primary Indebtedness underlying such Guaranty Obligation (or any portion thereof) prior to the stated maturity thereofthereof as a result of a breach by such Group Company of, provided that it shall not be or a Default default under, the documents or an Event of Default under this Section 8.05 unless the aggregate principal amount of all instruments governing such Indebtedness as described in preceding clauses (i) and or Guaranty Obligation; or (ii) there occurs under any Swap Agreement or Swap Obligation an Early Termination Date (as defined in such Swap Agreement) resulting from (A) any event of default under such Swap Agreement as to which any Group Company is at least $15,000,000; orthe Defaulting Party (as defined in such Swap Agreement) or (B) any Termination Event (as so defined) as to which any Group Company is an Affected Party (as so defined), and, in either event, the Swap Termination Value owed by a Group Company as a result thereof is greater than the Threshold Amount.

Default Under Other Indebtedness. The occurrence of a default by Borrower or any Guarantor or any affiliate or subsidiary of Borrower or any Guarantor with respect to any other indebtedness, whether as a borrower or a guarantor thereunder, under any agreement with any lender, including without limitation, Lender, or any Disqualified Equity Interests of Borrower, any Guarantor or any of their respective subsidiaries shall be payable or otherwise be required to be paid (if the required payments exceed in the aggregate $500,000) or an event of default (if the outstanding amount of such Disqualified Equity Interests exceeds $500,000) thereunder shall occur. As used herein, the term “Disqualified Equity Interests” means any equity interest that, by its terms (or by the terms of any security or other equity interests into which it is convertible or for which it is exchangeable), or upon the happening of any event or condition (i) SCIS, Caterair, any Significant Subsidiary of SCIS matures or Caterair or any combination of two or more Non-Significant Subsidiaries of SCIS which at the time of determination own a combined basis more than 10% of the consolidated assets of SCIS (determined on a basis consistent with the definition of "Significant Subsidiary") shall (x) default in any payment of any Indebtedness is mandatorily redeemable (other than solely for Qualified Equity Interests), pursuant to a sinking fund obligation or otherwise (except as a result of a change of control or asset sale so long as any rights of the Obligations and any Indebtedness arising under holders thereof upon the occurrence of a change of control or asset sale event shall be subject to the prior repayment in connection with full of the SCIS Credit AgreementLoan), (ii) beyond is redeemable at the period option of grace, if any, provided in the instrument or agreement under which such Indebtedness was created or (y) default in the observance or performance of any agreement or condition relating to any Indebtedness holder thereof (other than the Obligations and any Indebtedness arising under solely for Qualified Equity Interests), in whole or in connection with part, (iii) provides for the SCIS Credit Agreementscheduled payments of dividends in cash, or (iv) is or contained in any instrument becomes convertible into or agreement evidencing, securing or relating thereto, exchangeable for indebtedness or any other event shall occur or condition existequity interests that would constitute Disqualified Equity Interests, the effect of which default or other event or condition is to cause, or would permit the holder or holders of such Indebtedness (or a trustee or agent on behalf of such holder or holders) to cause (determined without regard to whether any notice is required), any such Indebtedness to become due prior to its stated maturity, or (ii) any Indebtedness (other than the Obligations and any Indebtedness arising under or in connection with the SCIS Credit Agreement) of SCIS, Caterair, any Significant Subsidiary of SCIS or Caterair or any combination of two or more Non-Significant Subsidiaries of SCIS which at the time of determination own a combined basis more than 10% of the consolidated assets of SCIS (determined on a basis consistent with the definition of "Significant Subsidiary") shall be declared to be due and payable, or required to be prepaid other than by a regularly scheduled required prepaymenteach case, prior to the stated date that is 180 days after the latest maturity thereof, provided date of the Loan; and the term “Qualified Equity Interests” means any equity interests issued by Holdings (and not by any of its subsidiaries) that it shall is not be a Default or an Event of Default under this Section 8.05 unless the aggregate principal amount of all Indebtedness as described in preceding clauses (i) and (ii) is at least $15,000,000; orDisqualified Equity Interest.