Common use of Defaults in Other Agreements Clause in Contracts

Defaults in Other Agreements. (i) Failure of any Loan Party or any of their respective Subsidiaries to pay when due any principal of or interest on (or, in respect of any Indebtedness set forth in clause (k) of the definition of “Indebtedness,” any other amount), including any payment in settlement, payable in respect of one or more items of Indebtedness (other than Indebtedness referred to in Section 8.01(a)) in an aggregate principal amount (or Net Xxxx-to-Market Exposure) of $50.0 million or more, in each case beyond the grace period, if any, provided therefor; or (ii) breach or default by any Loan Party with respect to any other material term of (x) one or more items of Indebtedness in the individual or aggregate principal amounts (or Net Xxxx-to-Market Exposure) referred to in clause (i) above or (y) any loan agreement, mortgage, indenture or other agreement relating to such item(s) of Indebtedness, in each case beyond the grace period, if any, provided therefor, if the effect of such breach or default is to cause, or to permit the holder or holders of that Indebtedness (or a trustee on behalf of such holder or holders), to cause, that Indebtedness to become or be declared due and payable (or subject to a compulsory repurchase or redeemable) prior to its stated maturity or the stated maturity of any underlying obligation, as the case may be. THEN (1) upon the occurrence of any Event of Default described in Section 8.01(f) or 8.01(g), automatically, and (2) upon the occurrence and during the continuance of any other Event of Default, at the request of the Required Lenders or at the Administrative Agent’s discretion, upon notice to Holdings by the Administrative Agent (A) each of the following shall immediately become due and payable, in each case without presentment, demand, protest or other requirements of any kind, all of which are hereby expressly waived by each Loan Party: (I) the unpaid principal amount of and accrued interest and premium on the Loans and (II) the Reimbursement Obligations and all other Obligations; (B) the Administrative Agent may cause the Collateral Agent to enforce any and all Liens and security interests created pursuant to Security Documents; and (C) the Commitments shall be terminated forthwith.

Defaults in Other Agreements. Any (i) Failure failure of any Loan Party or of any of their respective Subsidiaries to pay when due any principal of or interest on (or, in respect of any Indebtedness set forth in clause (k) of the definition of “Indebtedness,” any other amountamount of), including any payment in settlement, payable in respect of one or more items of Indebtedness (other than Indebtedness referred to in Section 8.01(a)) in an aggregate principal amount (or Net Xxxx-to-Market Exposure) of $50.0 million or more, in each case beyond the grace period, if any, provided therefor; or (ii) breach or default by any Loan Party with respect to any other material term of (x) one or more items of Indebtedness in the individual or aggregate principal amounts (or Net Xxxx-to-Market Exposure) referred to in clause (i) above or (y) any loan agreement, mortgage, indenture or other agreement relating to such item(s) of Material Indebtedness, in each case beyond the grace period, if any, provided therefor, if the effect of such breach or default is (ii) any other event or condition occurs that results in any Material Indebtedness becoming due prior to cause, its scheduled maturity or to permit that enables or permits (with all applicable grace periods having expired) the holder or holders of that any Material Indebtedness (or a any trustee or agent on its or their behalf of such holder or holders), to cause, that cause any Material Indebtedness to become due, or be declared due and payable (to require the prepayment, repurchase, redemption or subject to a compulsory repurchase or redeemable) defeasance thereof, prior to its stated scheduled maturity or provided that with respect to this clause (ii), such default has not been waived by the stated maturity holders of any underlying obligation, as the case may besuch Indebtedness. THEN (1) upon the occurrence of any Event of Default described in Section 8.01(f) or 8.01(g), automatically, and (2) upon the occurrence and during the continuance of any other Event of Default, at the request of the Required Lenders or at the Administrative Agent’s discretion, upon notice to Holdings by the Administrative Agent (A) each of the following shall immediately become due and payable, in each case without presentment, demand, protest or other requirements of any kind, all of which are hereby expressly waived by each Loan Party: (I) the unpaid principal amount of and accrued interest and premium on the Loans and (II) the Reimbursement Obligations and all other Obligations; (B) the Administrative Agent may cause the Collateral Agent to enforce any and all Liens and security interests created pursuant to Security Documents; and (C) the Commitments shall be terminated forthwith.

Defaults in Other Agreements. (iA) Failure of any Loan Credit Party or any of their respective Subsidiaries to pay when due any principal of or interest on (or, in respect of any Indebtedness set forth in clause (kxi) of the definition of “Indebtedness,” any other amount), including any payment in settlement, payable in respect of one or more items of Indebtedness (other than Indebtedness referred to in Section 8.01(a8.1(a)) in an aggregate principal amount (or Net Xxxx-to-Market Exposure) of $50.0 million 50,000,000 or more, in each case beyond the grace period, if any, provided therefor; or (iiB) breach or default by any Loan Credit Party with respect to any other material term of (x1) one or more items of Indebtedness in the individual or aggregate principal amounts (or Net Xxxx-to-Market Exposure) referred to in clause (iA) above or (y2) any loan agreement, mortgage, indenture or other agreement relating to such item(s) of Indebtedness, in each case beyond the grace period, if any, provided therefor, if the effect of such breach or default is to cause, or to permit the holder or holders of that Indebtedness (or a trustee on behalf of such holder or holders), to cause, that Indebtedness to become or be declared due and payable (or subject to a compulsory repurchase or redeemable) prior to its stated maturity or the stated maturity of any underlying obligation, as the case may be; provided that (i) notwithstanding the foregoing, solely with respect to the failures, breaches and defaults set forth in this Section 8.1(m) as they relate to the Revolving Credit Agreement in existence as of the Second Amendment Effective Date agented by UBS AG, New York Branch, and only if Holdings and its Subsidiaries are at such time holding Available Cash in excess of the amount necessary to satisfy in full all obligations thereunder and under all other Revolving Loan Debt, then any such failure, breach or default under such Revolving Credit Agreement (v) that is not related to a failure to pay when due any principal, interest or other amount thereon, (w) that is not related to any bankruptcy, dissolution or insolvency event, (x) with respect to which no party has accelerated payment, terminated commitments or exercised any remedies, (y) for which there is no grace period under the terms of such Revolving Credit Agreement and (z) that but for the applicability of this proviso would create an Event of Default under this Section 8.1(m), shall not create an Event of Default under this Section 8.1(m) until the date that is two Business Days after the date of any such failure, breach or default under such Revolving Credit Agreement. and (ii) notwithstanding the foregoing, solely with respect to a failure to comply with any financial covenant applicable to any replacement Revolving Credit Agreement permitted pursuant to Section 6.1(m)(i), any Event of Default as a result of such failure shall not constitute an Event of Default under this Section 8.1(m) until the date on which the Indebtedness under such Revolving Credit Agreement has been declared due and payable in accordance with the provisions of such Revolving Credit Agreement. THEN (1) upon the occurrence of any Event of Default described in Section 8.01(f8.1(f) or 8.01(g8.1(g), automatically, and (2) upon the occurrence and during the continuance of any other Event of Default, at the request of (or with the Required Lenders or at the Administrative Agent’s discretionconsent of) Requisite Lenders, upon notice to Holdings by the Administrative Agent Agent, (A) each of the following shall immediately become due and payable, in each case without presentment, demand, protest or other requirements of any kind, all of which are hereby expressly waived by each Loan Credit Party: (I) the unpaid principal amount of and accrued interest and premium on the Loans and (II) the Reimbursement Obligations and all other Obligations; and (B) the Administrative Agent may cause the Collateral Agent to enforce any and all Liens and security interests created pursuant to Security Collateral Documents; and (C) the Commitments shall be terminated forthwith.

Defaults in Other Agreements. (iA) Failure of any Loan Credit Party or any of their respective Subsidiaries to pay when due any principal of or interest on (or, in respect of any Indebtedness set forth in clause (kxi) of the definition of “Indebtedness,” any other amount), including any payment in settlement, payable in respect of one or more items of Indebtedness (other than Indebtedness referred to in Section 8.01(a8.1(a)) in an aggregate principal amount (or Net Xxxx-to-Market Exposure) of $50.0 million 50,000,000 or more, in each case beyond the grace period, if any, provided therefor; or (iiB) breach or default by any Loan Credit Party with respect to any other material term of (x1) one or more items of Indebtedness in the individual or aggregate principal amounts (or Net Xxxx-to-Market Exposure) referred to in clause (iA) above or (y2) any loan agreement, mortgage, indenture or other agreement relating to such item(s) of Indebtedness, in each case beyond the grace period, if any, provided therefor, if the effect of such breach or default is to cause, or to permit the holder or holders of that Indebtedness (or a trustee on behalf of such holder or holders), to cause, that Indebtedness to become or be declared due and payable (or subject to a compulsory repurchase or redeemable) prior to its stated maturity or the stated maturity of any underlying obligation, as the case may be; provided that, notwithstanding the foregoing, solely with respect to the failures, breaches and defaults set forth in this Section 8.1(m) as they relate to the Revolving Credit Agreement in existence as of the Second Amendment Effective Date agented by UBS AG, New York Branch, and only if Holdings and its Subsidiaries are at such time holding Available Cash in excess of the amount necessary to satisfy in full all obligations thereunder and under all other Revolving Loan Debt, then any such failure, breach or default under such Revolving Credit Agreement (v) that is not related to a failure to pay when due any principal, interest or other amount thereon, (w) that is not related to any bankruptcy, dissolution or insolvency event, (x) with respect to which no party has accelerated payment, terminated commitments or exercised any remedies, (y) for which there is no grace period under the terms of such Revolving Credit Agreement and (z) that but for the applicability of this proviso would create an Event of Default under this Section 8.1(m), shall not create an Event of Default under this Section 8.1(m) until the date that is two Business Days after the date of any such failure, breach or default under such Revolving Credit Agreement. THEN (1) upon the occurrence of any Event of Default described in Section 8.01(f8.1(f) or 8.01(g8.1(g), automatically, and (2) upon the occurrence and during the continuance of any other Event of Default, at the request of (or with the Required Lenders or at the Administrative Agent’s discretionconsent of) Requisite Lenders, upon notice to Holdings by the Administrative Agent Agent, (A) each of the following shall immediately become due and payable, in each case without presentment, demand, protest or other requirements of any kind, all of which are hereby expressly waived by each Loan Credit Party: (I) the unpaid principal amount of and accrued interest and premium on the Loans and (II) the Reimbursement Obligations and all other Obligations; and (B) the Administrative Agent may cause the Collateral Agent to enforce any and all Liens and security interests created pursuant to Security Collateral Documents; and (C) the Commitments shall be terminated forthwith.