Common use of Payment Defaults Under Other Indebtedness Documents Clause in Contracts

Payment Defaults Under Other Indebtedness Documents. Any Loan Party --------------------------------------------------- shall default in the payment of any Indebtedness (other than the Obligations owed under this Agreement), which Indebtedness has an aggregate outstanding principal balance of $2,000,000 or -44- more when such payment is due (whether by acceleration or otherwise after) after giving effect to any grace or cure period, or default by any Loan Party in the performance of any term of any agreement or instrument under which any such Indebtedness is created or by which it is governed or evidenced, if the effect of any such default is to cause such Indebtedness to become, or to permit the holder or holders of such Indebtedness (or any Person on behalf of such holder) to declare such Indebtedness, due prior to its expressed maturity;

Payment Defaults Under Other Indebtedness Documents. Any Loan Party The --------------------------------------------------- Borrower shall default in the payment of any Indebtedness (other than the Obligations owed under this Agreement), which Indebtedness has an aggregate outstanding principal balance of $2,000,000 1,000,000 or -44- more when such payment is due (whether by acceleration or otherwise after) after giving effect to any grace or cure period, or default by any Loan Party the Borrower in the performance of any term of any agreement or instrument under which any such Indebtedness is created or by which it is governed or evidenced, if the effect of any such default is to cause such Indebtedness to become, or to permit the holder or holders of such Indebtedness (or any Person on behalf of such holder) to declare such Indebtedness, due prior to its expressed maturity;

Payment Defaults Under Other Indebtedness Documents. Any Loan Party --------------------------------------------------- shall default in the payment of any Indebtedness (other than the Obligations owed under this Agreement), which Indebtedness has an aggregate outstanding principal balance of $2,000,000 500,000 or -44- more when such payment is due (whether by acceleration or otherwise afterotherwise) after giving effect to any grace or cure period, or default by any Loan Party in the performance of any term of any agreement or instrument under which any such Indebtedness is created or by which it is governed or evidenced, if the effect of any such default is to cause such Indebtedness to become, or to permit the holder or holders of such Indebtedness (or any Person on behalf of such holder) to declare such Indebtedness, Indebtedness due prior to its expressed maturity;.

Payment Defaults Under Other Indebtedness Documents. Any Loan --------------------------------------------------- Party --------------------------------------------------- shall default in the payment of any Indebtedness (other than the Obligations owed under this Agreement), which Indebtedness has an aggregate outstanding principal balance of $2,000,000 1,000,000 or -44- more when such payment is due (whether by acceleration or otherwise after) after giving effect to any grace or cure period, or default by any Loan Party in the performance of any term of any agreement or instrument under which any such Indebtedness is created or by which it is governed or evidenced, if the effect of any such default is to cause such Indebtedness to become, or to permit the holder or holders of such Indebtedness (or any Person on behalf of such holder) to declare such Indebtedness, due prior to its expressed maturity;