Cross Default is specified in the Schedule as applying to the party, the occurrence or existence of (1) a default, event of default or other similar condition or event (however described) in respect of such party, any Credit Support Provider of such party or any applicable Specified Entity of such party under one or more agreements or instruments relating to Specified Indebtedness of any of them (individually or collectively) in an aggregate amount of not less than the applicable Threshold Amount (as specified in the Schedule) which has resulted in such Specified Indebtedness becoming, or becoming capable at such time of being declared, due and payable under such agreements or instruments, before it would otherwise have been due and payable or (2) a default by such party, such Credit Support Provider or such Specified Entity (individually or collectively) in making one or more payments on the due date thereof in an aggregate amount of not less than the applicable Threshold Amount under such agreements or instruments (after giving effect to any applicable notice requirement or grace period);
Cross Default provisions of Section 5(a)(vi) will not apply to Party A and will not apply to Party B.
Cross Default provisions of Section 5(a)(vi) will apply to Party A, and will apply to Party B.
Examples of Cross Default in a sentence
Cross Default: None.Early Termination: The Issuer may be entitled to terminate the Instruments prior to their scheduled maturity date in certain circumstances.
A certificate by the Auditors of the Guarantor as to the amount of the Cross Default Amount shall, in the absence of manifest error, be conclusive and binding on all parties.
Cross Default The Conditions will, unless the applicable Pricing Supplement indicates otherwise, contain a cross default provision as described in Condition 12(b).
Cross Default: The terms of the Notes will contain a cross default provision as further described in Condition 10.
Cross Default: See “Terms and Conditions of the Notes – Events of Default”.
More Definitions of Cross Default
Cross Default means the event specified in Section 5(a)(vi).
Cross Default provisions of Section 5(a)(vi) of the Agreement will be inapplicable to Party A and Party B.
Cross Default provisions of Section 5(a)(vi) will, with respect to Party A, apply to it where Party A is the Issuer and will not apply to it where Party A is not the Issuer, and, with respect to Party B, will not apply to it. If such provisions apply: Clauses (1) and (2) of Section 5(a)(vi) of the Agreement shall be deleted and replaced with “an Issuer Event of Default in respect of Party A which has resulted in Covered Bonds becoming due and payable under their respective terms.”
Cross Default provisions of Section 5(a)(vi) will not apply to BSFP or to Counterparty.
Cross Default provisions of Section 5(a)(vi) of the ISDA Form Master Agreement will not apply to BSFP or to Counterparty.
Cross Default is specified in the Schedule as applying to the party, the occurrence or existence of:—
Cross Default provisions of Section 5(a)(vi) will not apply to BNY or to the Counterparty.