Common use of Guarantor or Designated Obligor Cross-Default Clause in Contracts

Guarantor or Designated Obligor Cross-Default. The Guarantor or any of the Designated Obligors shall (a) default in making any payment of any principal of any Indebtedness (including any Guarantee Obligation, but excluding the Liquidity Loans) on the scheduled or original due date with respect thereto; or (b) default in making any payment of any interest on any such Indebtedness beyond the period of grace, if any, provided in the instrument or agreement under which such Indebtedness was created; or (c) default in the observance or performance of any other agreement or condition relating to any such Indebtedness 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 to permit the holder or beneficiary of such Indebtedness (or a trustee or agent on behalf of such holder or beneficiary) to cause, with the giving of notice if required, such Indebtedness to become due prior to its stated maturity or (in the case of any such Indebtedness constituting a Guarantee Obligation) to become payable; provided, that a default, event or condition described in clause (a), (b) or (c) of this paragraph (iii) shall not at any time constitute a Mandatory Liquidation Event unless, at such time, one or more defaults, events or conditions of the type described in clauses (a), (b) and (c) of this paragraph (iii) shall have occurred and be continuing with respect to Indebtedness the outstanding Dollar Equivalent principal amount of which exceeds in the aggregate $100,000,000;

Guarantor or Designated Obligor Cross-Default. The Guarantor or any of the Designated Obligors shall (a) default in making any payment of any principal of any Indebtedness (including any Guarantee Obligation, but excluding the Liquidity Loans) on the scheduled or original due date with respect thereto; or (b) default in making any payment of any interest on any such Indebtedness beyond the period of grace, if any, provided in the instrument or agreement under which such Indebtedness was created; or (c) default in the observance or performance of any other agreement or condition relating to any such Indebtedness 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 to permit the holder or beneficiary of such Indebtedness (or a trustee or agent on behalf of such holder or beneficiary) to cause, with the giving of notice if required, such Indebtedness to become due prior to its stated maturity or (in the case of any such Indebtedness constituting a Guarantee Obligation) to become payable; provided, that a default, event or condition described in clause (a), (b) or (c) of this paragraph (iii) shall not at any time constitute a Mandatory Liquidation Event unless, at such time, one or more defaults, events or conditions of the type described in clauses (a), (b) and (c) of this paragraph (iii) shall have occurred and be continuing with respect to Indebtedness the outstanding Dollar Equivalent principal amount of which exceeds in the aggregate $100,000,00050,000,000;