Common use of Agreement Default Clause in Contracts

Agreement Default. Any Unitholder or any of its Affiliates breaches or is in default with respect to any Indebtedness of such Unitholder and any of its Affiliates having an aggregate principal amount outstanding of at least Five Million Dollars ($5,000,000), and such breach or default is with respect to (a) any payment obligation or (b) any other covenant, obligation or default provision, and such breach or default under this clause (b) has not been cured within the lesser of (x) 10 days and (y) one-half of the number of days after such breach or default before which any holder or holders of such Indebtedness or any representative, trustee of agent thereof has the right (whether with notice of default or otherwise) to cause such Indebtedness to be accelerated under the terms of any agreement with respect to such Indebtedness (whether or not such Indebtedness is accelerated) (for the avoidance of doubt, if there is no such period prior such right to accelerate arising, the Material Default shall be deemed to have occurred upon the occurrence of such breach or default).