Common use of Other Payment Obligations Clause in Contracts

Other Payment Obligations. The Company or any of its Subsidiaries shall (i) fail to make any payment when due under the terms of the Senior Debt Documents and such failure shall continue beyond any period of grace provided with respect thereto, or (ii) default in the observance or performance of any other agreement, term or condition contained in any such bond, debenture, note or other evidence of Indebtedness, and the effect of such failure or default is to cause the Senior Debt to become due prior to its stated date of maturity; or