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

Acceleration of Senior Obligations or Other Material Indebtedness. Any acceleration shall occur of the maturity of the Senior Obligations or of any other indebtedness of the Borrower 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 any such Senior Obligations or Other Material Indebtedness shall not be paid in full upon the final maturity thereof;

Appears in 2 contracts

Samples: Tifia Loan Agreement, Direct Agreement

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Acceleration of Senior Obligations or Other Material Indebtedness. Any acceleration shall occur of the maturity of the Senior Obligations or of any other indebtedness of the Borrower in an aggregate principal amount equal to or greater than $1,000,000 that is either issued pursuant to the FFGA Note Documents or the Airport Indenture or that is senior to, or in parity with, the TIFIA Loan in right of payment or in right of security under the Indenture (“Other Material Indebtedness”), or any such Senior Obligations or Other Material Indebtedness shall not be paid in full upon the final maturity thereof;

Appears in 1 contract

Samples: Tifia Loan Agreement

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Acceleration of Senior Obligations or Other Material Indebtedness. Any acceleration shall occur of the maturity of the Senior Obligations Loan or of any other indebtedness of the Borrower in an aggregate principal amount equal to or greater than $1,000,000 500,000 (inflated annually by CPI) that is senior to, or in parity with, the TIFIA Loan in right of payment or in right of security (“Other Material Indebtedness”), or any such Senior Obligations or Other Material Indebtedness shall not be paid in full upon the final maturity thereof;

Appears in 1 contract

Samples: Tifia Loan Agreement

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