2Cross Default Clause Samples
2Cross Default. A material default of the terms of any other lease, license, permit, or agreement held by TCM with the City of Los Angeles Department of Airports shall constitute a material Default of the terms of this Agreement and shall give City the right to terminate this Agreement for cause in accordance with the procedures set forth in this Agreement.
2Cross Default. If a Customer defaults on any other facility(ies) issued to him/her by Momentum or a material event of default occurs under any such other facility(ies) , which facility(ies) may include, among others, invoice factoring and/or insurance premium finance facility, Momentum is entitled to exercise the rights to offset and to consolidate the amounts outstanding in respect of all such facility(ies) with the amount outstanding in respect of the Ezua Chapaa facility, and repossess and dispose any collateral including the Vehicle, held by Momentum under such facility(ies) during such default.