Common use of Cross-Acceleration Clause in Contracts

Cross-Acceleration. (i) The Company or any Material Subsidiary (A) fails to make any payment in respect of any Indebtedness or Contingent Obligation (other than in respect of Swap Contracts), having an aggregate principal amount (including undrawn committed or available amounts and including amounts owing to all creditors under any combined or syndicated credit arrangement) of more than $10,000,000 when due (whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise) and such failure continues after the applicable grace or notice period, if any, specified in the relevant document on the date of such failure, or (B) fails to perform or observe any other condition or covenant, or any other event shall occur or condition exist, under any agreement or instrument relating to any such Indebtedness or Contingent Obligation, and such failure continues after the applicable grace or notice period, if any, specified in the relevant document on the date of such failure, if the effect of such failure, event or condition under the preceding clauses (A) or (B) is to cause such Indebtedness to be declared or to become due or to be repurchased, prepaid, defeased or redeemed (automatically or otherwise), or an offer to repurchase, prepay, defease or redeem such Indebtedness to be required to be made, prior to its stated maturity, or such Contingent Obligation to become payable or cash collateral in respect thereof to be demanded; or (ii) there occurs under any Swap Contract an Early Termination Date (as defined in such Swap Contract) resulting from (1) any event of default under such Swap Contract as to which the Company or any Subsidiary is the Defaulting Party (as defined in such Swap Contract) or (2) any Termination Event (as defined in such Swap Contract) as to which the Company or any Subsidiary is an Affected Party (as defined in such Swap Contract), and, in either event, the Swap Termination Value owed by the Company or such Subsidiary as a result thereof is greater than $10,000,000; or

Appears in 3 contracts

Samples: Credit Agreement (Mentor Graphics Corp), Credit Agreement (Mentor Graphics Corp), Credit Agreement (Mentor Graphics Corp)

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Cross-Acceleration. (i) The Company or any Material Subsidiary (A) fails to make any payment when due (whether by scheduled maturity, required prepayment, acceleration, demand or otherwise but after giving effect to any applicable grace periods) in respect of any Indebtedness or Contingent Obligation Guarantee (other than in respect of Indebtedness hereunder and Indebtedness under Swap Contracts), ) having an aggregate outstanding principal amount (including undrawn or committed or available amounts and including amounts owing to all creditors under any combined or syndicated credit arrangement) of more than $10,000,000 when due (whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise) and such failure continues after the applicable grace or notice period, if any, specified in the relevant document on the date of such failure, Threshold Amount or (B) fails to observe or perform or observe (after giving effect to any applicable grace periods) any other condition or covenant, or any other event shall occur agreement or condition exist, under any agreement or instrument relating to any such Indebtedness or Contingent ObligationGuarantee contained in any instrument or agreement evidencing or securing such Indebtedness or Guarantee or relating thereto or any other event of default occurs under the terms of (and as defined in) any such instrument or agreement, and such failure continues after the applicable grace or notice period, if any, specified in the relevant document on the date of such failure, if each case the effect of such failure, which failure or other event or condition under the preceding clauses (A) or (B) of default is to cause such Indebtedness to be declared or to become due or to be repurchased, prepaid, defeased or redeemed (automatically or otherwise), or an offer to repurchase, prepay, defease or redeem such Indebtedness to be required to be made, prior to its stated maturity, or such Contingent Obligation to become payable or cash collateral in respect thereof to be demandedthe acceleration of the maturity thereof; or (ii) there occurs under any Swap Contract an Early Termination Date (as defined in such Swap Contract) resulting from (1A) any event of default under such Swap Contract as to which the Company or any Subsidiary is the Defaulting Party (or equivalent term, as defined in such Swap Contract) or (2B) any Termination Event (as defined in so defined) under such Swap Contract) Contract as to which the Company or any Subsidiary is an Affected Party (as defined in such Swap Contract), so defined) and, in either event, the Swap Termination Value owed by the Company or such Subsidiary as a result thereof is greater than $10,000,000the Threshold Amount, and in the case of any Early Termination Date resulting from such a Termination Event, such Early Termination Date is not rescinded or such Swap Termination Value is not paid within five (5) days following such Early Termination Date; oror 77

Appears in 1 contract

Samples: Credit Agreement (W.W. Grainger, Inc.)

Cross-Acceleration. (i) The Company or any Material Subsidiary (A) fails to make any payment in respect of any Indebtedness or Contingent Obligation (other than in respect of Swap Contracts), (1) having an aggregate principal amount (including undrawn committed or available amounts and including amounts owing to all creditors under any combined or syndicated credit arrangement) of more than $10,000,000 or (2) arising under the Revolving Credit Agreement in either case when due (whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise) and such failure continues after the applicable grace or notice period, if any, specified in the relevant document on the date of such failure, or (B) fails to perform or observe any other condition or covenant, or any other event shall occur or condition exist, under (1) any agreement or instrument relating to any such Indebtedness or Contingent ObligationObligation or (2) the Revolving Credit Agreement, and and, in either case, such failure continues after the applicable grace or notice period, if any, specified in the relevant document on the date of such failure, if the effect and as a result of such failure, event or condition under the preceding clauses (A) or (B) is to cause such Indebtedness to be has been declared or to become due or has been required to be repurchased, prepaid, defeased or redeemed (automatically or otherwise), or an offer to repurchase, prepay, defease or redeem such Indebtedness to be required to be made, prior to its stated maturity, or such Contingent Obligation to become payable or cash collateral in respect thereof to be demanded; or (ii) there occurs under any Swap Contract an Early Termination Date (as defined in such Swap Contract) resulting from (1) any event of default under such Swap Contract as to which the Company or any Subsidiary is the Defaulting Party (as defined in such Swap Contract) or (2) any Termination Event (as defined in such Swap Contract) as to which the Company or any Subsidiary is an Affected Party (as defined in such Swap Contract), and, in either event, the Swap Termination Value owed by the Company or such Subsidiary as a result thereof is greater than $10,000,000; or

Appears in 1 contract

Samples: Credit Agreement (Mentor Graphics Corp)

Cross-Acceleration. (i) The Company or any Material Subsidiary other than a Non-Recourse Subsidiary (A) fails to make any payment when due (whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise) in respect of any Indebtedness or Contingent Obligation Guarantee (other than in respect of Indebtedness hereunder and Indebtedness under Swap Contracts), ) having an aggregate principal amount (including undrawn committed or available amounts and including amounts owing to all creditors under any combined or syndicated credit arrangement) of more than $10,000,000 when due (whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise) and such failure continues after the applicable grace or notice period, if any, specified in the relevant document on the date of such failure100,000,000, or (B) fails to observe or perform or observe any other condition or covenant, or any other event shall occur agreement or condition exist, under any agreement or instrument relating to any such Indebtedness or Contingent ObligationGuarantee or contained in any instrument or agreement evidencing, and such failure continues after the applicable grace securing or notice periodrelating thereto, if anyor any other event occurs, specified in the relevant document on the date of such failure, if the effect of such failure, which default or other event or condition under the preceding clauses (A) or (B) is to cause cause, such Indebtedness to be declared demanded or to become due or to be repurchased, prepaid, defeased or redeemed (automatically or otherwise), or an offer to repurchase, prepay, defease or redeem such Indebtedness to be required to be made, prior to its stated maturity, or such Contingent Obligation Guarantee to become payable or cash collateral in respect thereof to be demanded; or (ii) there occurs under any Swap Contract an Early Termination Date (as defined in such Swap Contract) resulting from (1A) any event of default under such Swap Contract as to which the Company or any Subsidiary is the Defaulting Party (as defined in such Swap Contract) or (2B) any Termination Event (as defined in under such Swap Contract) as to which the Company or any Subsidiary is an Affected Party (as defined in such Swap Contract), ) and, in either event, the Swap Termination Value owed by the Company or such Subsidiary as a result thereof is greater than $10,000,000100,000,000, and in any such case such failure shall continue after the end of any applicable grace period for such payment; or

Appears in 1 contract

Samples: Credit Agreement (Reinsurance Group of America Inc)

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Cross-Acceleration. (i) The Company or any Material ------------------ Subsidiary (A) fails to make any payment in respect of any Indebtedness or Contingent Obligation (other than in respect of Swap Contracts), having an aggregate principal amount (including undrawn committed or available amounts and including amounts owing to all creditors under any combined or syndicated credit arrangement) of more than $10,000,000 when due (whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise) and such failure continues after the applicable grace or notice period, if any, specified in the relevant document on the date of such failure, or (B) fails to perform or observe any other condition or covenant, or any other event shall occur or condition exist, under any agreement or instrument relating to any such Indebtedness or Contingent Obligation, and such failure continues after the applicable grace or notice period, if any, specified in the relevant document on the date of such failure, failure if the effect of such failure, event or condition under the preceding clauses (A) or (B) is to cause such Indebtedness to be declared or to become due or to be repurchased, prepaid, defeased or redeemed (automatically or otherwise), or an offer to repurchase, prepay, defease or redeem such Indebtedness to be required to be made, due and payable prior to its stated maturity, or such Contingent Obligation to become payable or cash collateral in respect thereof to be demanded; or (ii) there occurs under any Swap Contract an Early Termination Date (as defined in such Swap Contract) resulting from (1) any event of default under such Swap Contract as to which the Company or any Subsidiary is the Defaulting Party (as defined in such Swap Contract) or (2) any Termination Event (as defined in such Swap Contractso defined) as to which the Company or any Subsidiary is an Affected Party (as defined in such Swap Contractso defined), and, in either event, the Swap Termination Value owed by the Company or such Subsidiary as a result thereof is greater than $10,000,000; or

Appears in 1 contract

Samples: Credit Agreement (Mentor Graphics Corp)

Cross-Acceleration. (i) The Company or any Material Subsidiary (A) fails to make any payment when due (whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise but after giving effect to any applicable grace periods) in respect of any Indebtedness or Contingent Obligation Guarantee (other than in respect of Indebtedness hereunder and Indebtedness under Swap Contracts), ) having an aggregate outstanding principal amount (including undrawn or committed or available amounts and including amounts owing to all creditors under any combined or syndicated credit arrangement) of more than $10,000,000 when due (whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise) and such failure continues after the applicable grace or notice period, if any, specified in the relevant document on the date of such failureThreshold Amount, or (B) fails to observe or perform or observe (after giving effect to any applicable grace periods) any other condition or covenant, or any other event shall occur agreement or condition exist, under any agreement or instrument relating to any such Indebtedness or Contingent ObligationGuarantee contained in any instrument or agreement evidencing, securing or relating thereto or any other event of default occurs under the terms of (and as defined in) any such failure continues after the applicable grace instrument or notice periodagreement, if any, specified in the relevant document on the date of such failure, if each case the effect of such failure, which failure or other event or condition under the preceding clauses (A) or (B) of default is to cause such Indebtedness to be declared or to become due or to be repurchased, prepaid, defeased or redeemed (automatically or otherwise), or an offer to repurchase, prepay, defease or redeem such Indebtedness to be required to be made, prior to its stated maturity, or such Contingent Obligation to become payable or cash collateral in respect thereof to be demandedthe acceleration of the maturity thereof; or (ii) there occurs under any Swap Contract an Early Termination Date (as defined in such Swap Contract) resulting from (1A) any event of default under such Swap Contract as to which the Company or any Subsidiary is the Defaulting Party (or equivalent term, as defined in such Swap Contract) or (2B) any Termination Event (as defined in so defined) under such Swap Contract) Contract as to which the Company or any Subsidiary is an Affected Party (as defined in such Swap Contract), so defined) and, in either event, the Swap Termination Value owed by the Company or such Subsidiary as a result thereof is greater than $10,000,000the Threshold Amount, and in the case of any Early Termination Date resulting from such a Termination Event, such Early Termination Date is not rescinded or such Swap Termination Value is not paid within five (5) days following such Early Termination Date; or

Appears in 1 contract

Samples: Credit Agreement (Grainger W W Inc)

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