Common use of Acceleration of Other Indebtedness Clause in Contracts

Acceleration of Other Indebtedness. Any obligation of the Borrower for the payment of borrowed money becomes or is declared to be due and payable or required to be prepaid (other than by a regularly scheduled prepayment) prior to the expressed maturity thereof and the Borrower has not cured the default giving rise to such an acceleration within 30 Business Days.

Appears in 4 contracts

Samples: Revolving Line of Credit Agreement (Aduddell Industries Inc), Credit and Security Agreement (NovaRay Medical, Inc.), Revolving Line of Credit Agreement (Aduddell Industries Inc)

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Acceleration of Other Indebtedness. Any obligation of the Borrower (including the Line of Credit) for the payment of borrowed money becomes or is declared to be due and payable or required to be prepaid (other than by a regularly scheduled prepayment) prior to the expressed maturity thereof and the Borrower has not cured the default giving rise to such an acceleration within 30 Business Days.

Appears in 1 contract

Samples: Term Loan Agreement (Transgenomic Inc)

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