Common use of Payment Cross-Default Clause in Contracts

Payment Cross-Default. if the Borrower or any Designated Subsidiary defaults in the payment when due (whether at maturity, upon acceleration, or otherwise) of Debt thereof in an aggregate principal amount in excess of 2.5% of Consolidated Shareholders’ Equity (or the Equivalent Amount thereof or the equivalent thereof in any other currency) and such default continues after the expiry of any applicable cure periods, unless such default has been remedied or waived in accordance with the provisions of the relevant indentures, credit agreements, instruments or other agreements evidencing or relating to such Debt; or

Payment Cross-Default. if the Borrower or any Designated Subsidiary defaults in the payment when due (whether at maturity, upon acceleration, or otherwise) of Debt thereof in an aggregate principal amount in excess of 2.5% of Consolidated Shareholders’ Equity (or the Equivalent Amount thereof or the equivalent thereof in any other currency) and such default continues after the expiry of any applicable cure periods, unless such default has been remedied or waived in accordance with the provisions of the relevant indentures, credit agreements, instruments or other agreements evidencing or relating to such Debt; or