Common use of Failure to Pay Other Indebtedness Clause in Contracts

Failure to Pay Other Indebtedness. The Borrower or any of its Subsidiaries shall fail to pay at maturity, or within any applicable period of grace, any obligation in excess of $250,000 for borrowed money or credit received or in respect of any capitalized leases, or fail to observe or perform any term, covenant or agreement contained in any agreement by which it is bound, evidencing or securing borrowed money or credit received or in respect of any capitalized leases in excess of $250,000 provided that the holder or holders thereof or of any obligations issued thereunder accelerate the maturity thereof;

Failure to Pay Other Indebtedness. The Any Borrower or any of its their Subsidiaries shall fail to pay at maturity, or within any applicable period of grace, any obligation in excess of $250,000 50,000 for borrowed money or credit received or in respect of any capitalized leases, or fail to observe or perform any term, covenant or agreement contained in any agreement by which it is bound, evidencing or securing borrowed money or credit received or in respect of any capitalized leases in excess of $250,000 50,000 provided that the holder or holders thereof or of any obligations issued thereunder to accelerate the maturity thereof;

Failure to Pay Other Indebtedness. The Borrower or any of its Subsidiaries shall fail to pay at maturity, or within any applicable period of grace, any obligation in excess of $250,000 50,000 for borrowed money or credit received or in respect of any capitalized leases, or fail to observe or perform any term, covenant or agreement contained in any agreement by which it is bound, evidencing or securing borrowed money or credit received or in respect of any capitalized leases in excess of $250,000 50,000 provided that the holder or holders thereof or of any obligations issued thereunder are entitled to accelerate the maturity thereof;