Common use of Acceleration of Senior Obligations or Other Material Indebtedness Clause in Contracts

Acceleration of Senior Obligations or Other Material Indebtedness. Any acceleration (not including any indirect acceleration of the maturity thereof (A) through reimbursement obligations to the provider of a Credit Facility occurring as a result of a mandatory tender for purchase thereof or (B) as a result of revised amortization requirements and/or increased interest rates following an optional or mandatory tender for purchase thereof) shall occur of the maturity of any (1) Senior Obligations or (2) any indebtedness or other payment obligations of the Borrower secured by Pledged Taxes in an aggregate principal amount equal to or greater than $1,000,000 that is senior to, or in parity with, the TIFIA Loan in right of payment or in right of security (“Other Material Indebtedness”), or the indebtedness specified in clauses (1) and (2) above shall not be paid in full upon the final maturity thereof;‌

Appears in 6 contracts

Samples: Tifia Loan Agreement, Tifia Loan Agreement, Tifia Loan Agreement

AutoNDA by SimpleDocs

Acceleration of Senior Obligations or Other Material Indebtedness. Any acceleration (not including any indirect acceleration of the maturity thereof (A) through reimbursement obligations to the provider of a Credit Facility occurring as a result of a mandatory tender for purchase thereof or (B) as a result of revised amortization requirements and/or increased interest rates following an optional or mandatory tender for purchase thereof) shall occur of the maturity of any (1) Senior Obligations or (2) any indebtedness or other payment obligations of the Borrower secured by Pledged Taxes in an aggregate principal amount equal to or greater than $1,000,000 that is senior to, or in parity with, the TIFIA Loan Loans in right of payment or in right of security (“Other Material Indebtedness”), or the indebtedness specified in clauses (1) and (2) above shall not be paid in full upon the final maturity thereof;‌thereof;

Appears in 1 contract

Samples: Master Credit Agreement

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!