Common use of Non-Payment of Other Debt Clause in Contracts

Non-Payment of Other Debt. Any default shall occur, under the terms applicable to any Debt of the Parent or any Subsidiary in an aggregate outstanding principal amount (for all such Debt so affected) exceeding $75,000,000 and such default shall (a) consist of the failure to pay such Debt when due (beyond the expiration of any applicable grace period), whether by acceleration or otherwise, or (b) accelerate the maturity of such Debt or permit the holder or holders thereof (beyond the expiration of any applicable grace period), or any trustee or agent for such holder or holders, to cause such Debt to become due and payable prior to its expressed maturity.

Appears in 3 contracts

Samples: Security Agreement (MIDDLEBY Corp), Credit Agreement (Middleby Corp), Pledge Agreement (Middleby Corp)

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Non-Payment of Other Debt. Any default shall occur, occur under the terms applicable to any Debt of the Parent or any Subsidiary in an aggregate outstanding principal amount (in any case for all such Debt so affected) exceeding $75,000,000 2,500,000 and such default shall (a) consist of the failure to pay such Debt when due (beyond subject to the expiration of any applicable grace period), whether by acceleration or otherwise, or (b) accelerate the maturity of such Debt or permit the holder or holders thereof (beyond subject to the expiration of any applicable grace period), or any trustee or agent for such holder or holders, to cause such Debt to become due and payable prior to its expressed maturity.

Appears in 2 contracts

Samples: Pledge Agreement (Middleby Corp), Credit Agreement (Middleby Corp)

Non-Payment of Other Debt. Any default shall occur, occur under the terms applicable to any Debt of the Parent or any Subsidiary in an aggregate outstanding principal amount (in any case for all such Debt so affected) exceeding $75,000,000 1,000,000 and such default shall (a) consist of the failure to pay such Debt when due (beyond subject to the expiration of any applicable grace period), whether by acceleration or otherwise, or (b) accelerate the maturity of such Debt or permit the holder or holders thereof (beyond subject to the expiration of any applicable grace period), or any trustee or agent for such holder or holders, to cause such Debt to become due and payable prior to its expressed maturity.

Appears in 2 contracts

Samples: Credit Agreement (Middleby Corp), Credit Agreement (Middleby Corp)

Non-Payment of Other Debt. Any default shall occur, occur under the terms applicable to any Debt of the Parent or any Subsidiary in an aggregate outstanding principal amount (for all such Debt so affected) exceeding $75,000,000 15,000,000 and such default shall (a) consist of the failure to pay such Debt when due (beyond subject to the expiration of any applicable grace period), whether by acceleration or otherwise, or (b) accelerate the maturity of such Debt or permit the holder or holders thereof (beyond subject to the expiration of any applicable grace period), or any trustee or agent for such holder or holders, to cause such Debt to become due and payable prior to its expressed maturity.

Appears in 1 contract

Samples: Security Agreement (Middleby Corp)

Non-Payment of Other Debt. Any default shall occur, occur under the terms applicable to any Debt of the Parent or any Subsidiary in an aggregate outstanding principal amount (for all such Debt so affected) exceeding $75,000,000 500,000 and such default shall (a) consist of the failure to pay such Debt when due (beyond subject to the expiration of any applicable grace period), whether by acceleration or otherwise, or (b) accelerate the maturity of such Debt or permit the holder or holders thereof (beyond subject to the expiration of any applicable grace period), or any trustee or agent for such holder or holders, to cause such Debt to become due and payable prior to its expressed maturity.. 12.1.3

Appears in 1 contract

Samples: Credit Agreement (Middleby Corp)

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Non-Payment of Other Debt. Any default shall occur, occur under the terms applicable to any Debt of the Parent any Loan Party or any Restricted Subsidiary in an aggregate outstanding principal amount (for all any such Debt so affectedaffected and including undrawn committed or available amounts and amounts owing to all creditors under any combined or syndicated credit arrangement) exceeding $75,000,000 2,500,000 and such default shall (ai) consist of the failure to pay such Debt when due (beyond the expiration of any applicable grace period)due, whether by acceleration or otherwise, or (bii) accelerate the maturity of such Debt or permit the holder or holders thereof (beyond the expiration of any applicable grace period)thereof, or any trustee or agent for such holder or holders, to cause such Debt to become due and payable prior to its expressed maturity.

Appears in 1 contract

Samples: Credit Agreement (Greenlight Capital Re, Ltd.)

Non-Payment of Other Debt. Any default shall occur, occur under the terms applicable to any Debt of the Parent or any Subsidiary in an aggregate outstanding principal amount (for all such Debt so affected) exceeding $75,000,000 30,000,000 and such default shall (a) consist of the failure to pay such Debt when due (beyond the expiration of any applicable grace period), whether by acceleration or otherwise, or (b) accelerate the maturity of such Debt or permit the holder or holders thereof (beyond the expiration of any applicable grace period), or any trustee or agent for such holder or holders, to cause such Debt to become due and payable prior to its expressed maturity.

Appears in 1 contract

Samples: Security Agreement (Middleby Corp)

Non-Payment of Other Debt. Any default shall occur, occur under the terms applicable to any Debt of the Parent or any Subsidiary in an aggregate outstanding principal amount (in any case for all such Debt so affected) exceeding $75,000,000 500,000 and such default shall (a) consist of the failure to pay such Debt when due (beyond subject to the expiration of any applicable grace period), whether by acceleration or otherwise, or (b) accelerate the maturity of such Debt or permit the holder or holders thereof (beyond subject to the expiration of any applicable grace period), or any trustee or agent for such holder or holders, to cause such Debt to become due and payable prior to its expressed maturity.. 58 12.1.3

Appears in 1 contract

Samples: Credit Agreement (Middleby Corp)

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