Indebtedness Default. No Loan Party is in default under any Indebtedness nor does it reasonably believe that it will be in default under any Indebtedness.
Indebtedness Default. 10.1 Save as disclosed in the Prospectus, no Group Company has any material outstanding liabilities, term loans, other borrowings or indebtedness in the nature of borrowings, including bank overdrafts and loans, debt securities or similar indebtedness, hire purchase commitments or any guarantees, mortgages and charges outside the ordinary course of business.
10.2 Save as disclosed in the Prospectus, no outstanding indebtedness of any Group Company has become repayable before its stated maturity, nor has any security in respect of such indebtedness become enforceable by reason of default by any Group Company.
10.3 Save as disclosed in the Prospectus, no person to whom any indebtedness of any Group Company is owed which is repayable on demand, has demanded or threatened to demand repayment of, or to take steps to enforce any security for, the same.
10.4 Save as disclosed in the Prospectus, no circumstance has arisen such that any person is now entitled to require payment of any indebtedness or under any guarantee of any liability of any Group Company by reason of default by any such member or any other person or any guarantee given by any Group Company.
10.5 Save as disclosed in the Prospectus, no event has occurred and is subsisting or, to the best knowledge of the Warrantors, is about to occur which constitutes or would (whether with the expiry of any applicable grace period or the fulfilment of any condition or the giving of any notice or the compliance with any other formality or otherwise) constitute a breach or default under, or result in the acceleration by reason of breach or default of, any obligations under any Law, agreement, undertaking, instrument or arrangement to which any Group Company is a party or by which any of them or their respective revenues or assets are bound or constitute a breach or violation of the business licence, articles of association/bye-laws (or equivalent constituent documents) of any Group Company, except for such breach of default or acceleration that will not have a Material Adverse Effect.
10.6 The amounts borrowed by each Group Company do not exceed any limitation on its borrowing contained in its articles of association (or equivalent constituent documents), any debenture or other deed or document binding upon it and except in the ordinary course of business, no Group Company has factored any of its debts, or engaged in financing of a type which would not be required to be shown or reflected in its audited accounts.
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Indebtedness Default. Dow Corning shall give notice to the Claims Administrator of a payment default or other material default with respect to any financial indebtedness totaling more than $100,000,000 that results in acceleration of that indebtedness (an "Indebtedness Default") within two (2) business days of such Indebtedness Default. Dow Corning shall not restructure or otherwise resolve such Indebtedness Default without prior notice to the Claims Administrator.
Indebtedness Default. The Borrower or any subsidiary of the Borrower shall default in any of its obligations under any other Debenture or any mortgage, credit agreement or other facility, indenture agreement, factoring agreement or other instrument under which there may be issued, or by which there may be secured or evidenced any indebtedness for borrowed money or money due under any long term leasing or factoring arrangement of the Borrower or any subsidiary of the Borrower in an amount exceeding $100,000, whether such indebtedness now exists or shall hereafter be created and such default shall result in such indebtedness becoming or being declared due and payable prior to the date on which it would otherwise become due and payable, in each of the above instances where such default would have a Material Adverse Effect on the Company’s ability to pay the Debentures on the Maturity Date.
Indebtedness Default. 10.1 No outstanding indebtedness of any Group Company has become repayable before its stated maturity, nor has any security in respect of such indebtedness become enforceable by reason of default by any Group Company.
10.2 No person to whom any indebtedness of any Group Company is owed which is repayable on demand, has demanded or, to the best knowledge of the Warrantors after due and proper enquiry, threatened to demand repayment of, or to take steps to enforce any security for, the same.
10.3 No circumstance has arisen such that any person is now entitled to require payment of any indebtedness or under any guarantee of any liability of any Group Company by reason of default by any such member or any other person or any guarantee given by any Group Company.
10.4 To the best knowledge of the Warrantors, no event has occurred and is subsisting or to the best knowledge of the Warrantors having made all reasonable enquiries is about to occur which constitutes or would (whether with the expiry of any applicable grace period or the fulfilment of any condition or the giving of any notice or the compliance with any other formality or otherwise) constitute a breach or default under, or result in the acceleration by reason of breach or default of, any obligations under any Law, agreement, undertaking, instrument or arrangement to which any Group Company is a party or by which any of them or their respective revenues or assets are bound or constitute a breach or violation of the business licence, articles of association (or equivalent constituent documents) of any Group Company, except for such breach or default or acceleration that will not have a Material Adverse Effect on the Group.
10.5 None of the Group Companies has any outstanding borrowing facilities as of the date of this Agreement and the Company does not expect to have any outstanding borrowing facilities up to the Listing Date.
Indebtedness Default. Any event or condition occurs that results in any Material Indebtedness becoming due prior to its scheduled maturity or, after giving of any required notice or lapse of time or both, that enables or permits the holder or holders of any Material Indebtedness or any trustee or agent on its or their behalf to cause any Material Indebtedness to become due, or to require the prepayment, repurchase, redemption or defeasance thereof, prior to its scheduled maturity; provided that this Section 7.07 shall not apply to secured Indebtedness that becomes due as a result of the voluntary sale or transfer of the property or assets securing such Indebtedness;
