Other Cross-Default Sample Clauses
The 'Other Cross-Default' clause establishes that a default under one agreement or obligation can trigger a default under the current contract. In practice, this means that if a party fails to meet its obligations or defaults on a separate, specified agreement—such as a loan or another commercial contract—that default is treated as a default under this contract as well. This mechanism is commonly used in financial and commercial agreements to protect parties from increased risk by ensuring that a counterparty's financial troubles elsewhere can justify early action or termination under the present contract, thereby preventing further exposure to potential losses.
Other Cross-Default. Any “event of default” or any other default which permits a demand for, or requires, the early repayment of obligations due by a Seller Party or its Affiliates under any note, indenture, loan agreement, guaranty, swap agreement, Hedge Agreement or other Indebtedness of Seller Party or any Affiliate ; or
Other Cross-Default. (i) The Borrower or any of its Subsidiaries fails to make any payment when due (whether by scheduled maturity, required prepayment, acceleration, demand or otherwise) in respect of any Indebtedness or guarantee (other than Indebtedness hereunder or any Margin Indebtedness) having an aggregate principal amount of more than [* * *]; (ii) the Borrower or any of its Subsidiaries fails to observe or perform any other agreement or condition relating to any such Indebtedness having an aggregate principal amount of more than [* * *] or guarantee or contained in any instrument or agreement evidencing, securing or relating thereto, or any other event occurs, the effect of which default or other event is to cause, or to permit the holder or holders of such Indebtedness or the beneficiary or beneficiaries of such guarantee (or a trustee or agent on behalf of such holder or holders or beneficiary or beneficiaries) to cause, with the giving of notice if required, such Indebtedness to be demanded or to become due or to be repurchased, prepaid, defeased or redeemed (automatically or otherwise), or an offer to repurchase, prepay, defease or redeem such Indebtedness to be made, prior to its stated maturity, or such guarantee to become payable or cash collateral in respect thereof to be demanded; or (iii) there occurs under any Swap Contract an Early Termination Date (as defined in such Swap Contract) resulting from (A) any event of default under such Swap Contract as to which the Borrower or any of its Subsidiaries is the Defaulting Party (as defined in such Swap Contract) or (B) any Termination Event (as so defined) under such Swap Contract as to which the Borrower or any of its Subsidiaries is an Affected Party (as so defined) and, in either event, the Swap Termination Value owed by the Borrower or any of its Subsidiaries as a result thereof is greater than [* * *]; or
Other Cross-Default. Any “event of default” or any other default by a Seller under any Indebtedness to which any Seller is a party, in the aggregate, in excess of [***] outstanding, which has resulted in the acceleration of the maturity of such Indebtedness; provided, that such default shall be deemed cured automatically and without any action by Buyer or such Seller, if, within [***] after Sellers’ receipt of notice of such acceleration, (A) the Indebtedness that was the basis for such default is discharged in full; (B) the holder of such Indebtedness has rescinded, annulled or waived the acceleration, notice or action giving rise to such default or (C) such default has been cured and no “event of default” or any other default continues under such note, indenture, loan agreement, guaranty, or other Indebtedness.
Other Cross-Default. Any default or event of default arising from any Loan Party's failure to pay amounts due or failure to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in any note, loan agreement, indenture or other contract entered into by such Loan Party with the Lender or any affiliate of the Lender shall occur (following the expiration of any applicable cure periods).
Other Cross-Default. Any “event of default” or any other default shall have occurred and be continuing which permits a demand for, or requires, the early repayment of obligations due by Seller or its Affiliates under any note, indenture, loan agreement, guaranty, swap agreement, Hedge Agreement or other Indebtedness in excess of $1,000,000 of Seller or any Affiliate to the extent not cured, waived or deemed not to exist after the application of any applicable waiver or cure period; or
Other Cross-Default. The Credit Parties or any of their Subsidiaries shall default in (i) the payment when due under any Material Contract or (ii) in the performance or observance, of any obligation or condition of any Material Contract and such failure to perform or observe such other obligation or condition continues unremedied for a period of thirty (30) days after notice of the occurrence of such default unless, but only as long as, the existence of any such default is being contested by the Borrower or such Subsidiary in good faith by appropriate proceedings and adequate reserves in respect thereof have been established on the books of the Borrower or such Subsidiary to the extent required by GAAP.
Other Cross-Default. The Credit Parties or any of their Subsidiaries shall default in (i) the payment when due under any Material Contract and shall have failed to cure such payment default within any applicable grace period set forth therein or (ii) in the performance or observance, of any obligation or condition of any Material Contract and such failure to perform or observe such other obligation or condition continues unremedied beyond any applicable grace or cure period set forth therein, but only as long as, the existence of any such default is being contested by the Credit Parties in good faith by appropriate proceedings and adequate reserves in respect thereof have been established on the books of the Credit Parties to the extent required by GAAP.
Other Cross-Default. (a) Any repayment of principal in respect of, or any payment of interest on, any Financial Indebtedness of an Obligor is not paid when due or within any originally applicable grace period (unless the due date for payment thereof is rescheduled with the agreement of the relevant creditor before the expiry of any such grace period); or
(b) any Financial Indebtedness of an Obligor is declared to be or otherwise becomes due and payable prior to its specified maturity as a result of an event of default (however described); or
(c) any commitment to an Obligor for any Financial Indebtedness is cancelled by a creditor of that Obligor by reason of an event of default (however described); or
(d) any Financial Indebtedness of an Obligor becomes capable of being declared due and payable prior to its specified maturity or any commitment to an Obligor for any Financial Indebtedness becomes capable of being cancelled in either case as a result of an event of default (however described) and the event giving rise to that event of default is not waived or remedied to the satisfaction of the relevant creditor within 30 days of its occurrence; provided that no Event of Default will occur under this Clause 18.1.7 if the aggregate amount of Financial Indebtedness or commitment for Financial Indebtedness falling within paragraphs (a) to (d) above is up to (and not exceeding) an agreed minimum amount of less than $10,000,000 (or its equivalent in any other currency or currencies).
Other Cross-Default. Any Loan Party shall default on any lease, commitment, contract, instrument or obligation to which such Loan Party is a party, in each case, where such default would reasonably be expected to have a Material Adverse Effect on the Loan Parties.
Other Cross-Default. Any “event of default” or any other default which permits a demand for, or requires, the early repayment of obligations due by Seller under any note, indenture, loan agreement, guaranty, swap agreement or other Indebtedness, in excess of the Cross-Default Threshold of Seller; or