Common use of Cross-Acceleration Clause in Contracts

Cross-Acceleration. (i) The Company or any 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 Guarantee (other than Indebtedness hereunder and Indebtedness under Swap Contracts) having an aggregate outstanding principal amount (including undrawn or committed available amounts and amounts owing to all creditors under any combined or syndicated credit arrangement) of more than the Threshold Amount or (B) fails to observe or perform (after giving effect to any applicable grace periods) any other agreement or condition relating to any such Indebtedness or Guarantee 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, in each case the effect of which failure or other event of default is to cause the 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 (A) 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 (B) any Termination Event (as so defined) under such Swap Contract as to which the Company or any Subsidiary is an Affected Party (as so defined) and, in either event, the Swap Termination Value owed by the Company or such Subsidiary as a result thereof is greater than the 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in the case of any Early Termination Date resulting from such a Termination Event, such Early Termination Date is not rescinded or such Swap Termination Value is not paid within five (5) days following such Early Termination Date; or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

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

Cross-Acceleration. (i) The Company or any Subsidiary (other than a Non-Recourse Subsidiary): (A) fails to make any payment when due (whether by scheduled maturity, required prepayment, acceleration, demand demand, or otherwise but after giving effect to any applicable grace periodsotherwise) in respect of any Indebtedness or Guarantee (other than Indebtedness hereunder and Indebtedness under Swap Contracts) having an aggregate outstanding principal amount (including undrawn or committed available amounts and amounts owing to all creditors under any combined or syndicated credit arrangement) of more than the Threshold Amount or Specified Indebtedness; or (B) fails to observe or perform (after giving effect to any applicable grace periods) any other agreement or condition relating to any such Specified Indebtedness or Guarantee contained in any instrument or agreement evidencing or evidencing, securing such Indebtedness or Guarantee or relating thereto thereto, or any other event of default occurs under the terms of (and as defined in) any such instrument or agreementoccurs, and, in each case either event, the effect of which failure default or other event of default is to cause the acceleration of the maturity thereof; cause: (i) such Specified Indebtedness which does not constitute a Guarantee to be demanded or to become due or to be repurchased, prepaid, defeased or redeemed (automatically or otherwise), prior to its stated maturity, or (ii) there such Specified Indebtedness which constitutes a Guarantee to become payable or cash collateral in respect thereof to be demanded, and in any such case, such failure shall continue after the end of any applicable grace period for such payment; or (ii) There occurs under any particular Swap Contract an Early Termination Date (as defined in such Swap Contract) resulting from from: (A) any event of default under such Swap Contract as to which the Company or any Subsidiary (other than a Non-Recourse Subsidiary) is the Defaulting Party (or equivalent term, as defined in such Swap Contract) or ); or (B) any Termination Event (as so defined) defined under such Swap Contract Contract) as to which the Company or any Subsidiary (other than a Non-Recourse Subsidiary) is an Affected Party (as so defineddefined 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 the Threshold Requisite Amount, and in any such case such failure shall continue after the case end of any Early Termination Date resulting from applicable grace period for 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 Datepayment; or

Appears in 1 contract

Sources: Letter of Credit Reimbursement Agreement (Reinsurance Group of America Inc)

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 Guarantee Contingent Obligation (other than Indebtedness hereunder and Indebtedness under in respect of Swap Contracts) ), having an aggregate outstanding principal amount (including undrawn committed or committed 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 Threshold Amount 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 or perform (after giving effect to any applicable grace periods) any other condition or covenant, or any other event shall occur or condition exist, under any agreement or condition instrument relating to any such Indebtedness or Guarantee contained Contingent Obligation, and such failure continues after the applicable grace or notice period, if any, specified in any instrument or agreement evidencing or securing the relevant document on the date of 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, in each case failure if the effect of which failure such failure, event or other event of default condition under the preceding clauses (A) or (B) is to cause the acceleration of the maturity thereofsuch Indebtedness to be declared to be 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 (A1) 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 (B2) any Termination Event (as so defined) under such Swap Contract as to which the Company or any Subsidiary is an Affected Party (as so defined) ), and, in either event, the Swap Termination Value owed by the Company or such Subsidiary as a result thereof is greater than the 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$10,000,000; or

Appears in 1 contract

Sources: Credit Agreement (Mentor Graphics Corp)

Cross-Acceleration. (i) The Company or any Subsidiary other than a Non-Recourse Subsidiary (A) fails to make any payment when due (whether by scheduled maturity, required prepayment, acceleration, demand demand, or otherwise but after giving effect to any applicable grace periodsotherwise) in respect of any Indebtedness or Guarantee (other than Indebtedness hereunder and Indebtedness under Swap Contracts) having an aggregate outstanding principal amount (including undrawn committed or committed available amounts and including amounts owing to all creditors under any combined or syndicated credit arrangement) of more than the Threshold Amount $100,000,000, or (B) fails to observe or perform (after giving effect to any applicable grace periods) any other agreement or condition relating to any such Indebtedness or Guarantee or contained in any instrument or agreement evidencing or evidencing, securing such Indebtedness or Guarantee or relating thereto thereto, or any other event of default occurs under the terms of (and as defined in) any such instrument or agreementoccurs, in each case the effect of which failure default or other event of default is to cause the acceleration of the maturity thereofcause, such Indebtedness to be demanded or to become due or to be repurchased, prepaid, defeased or redeemed (automatically or otherwise), prior to its stated maturity, or such 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 (A) 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 (B) any Termination Event (as so defined) defined under such Swap Contract Contract) as to which the Company or any Subsidiary is an Affected Party (as so defineddefined 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 the Threshold Amount$100,000,000, and in any such case such failure shall continue after the case end of any Early Termination Date resulting from applicable grace period for 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 Datepayment; or

Appears in 1 contract

Sources: Credit Agreement (Reinsurance Group of America Inc)

Cross-Acceleration. (i) The Company or any Subsidiary (other than a Non-Recourse Subsidiary): (A) fails to make any payment when due (whether by scheduled maturity, required prepayment, acceleration, demand demand, or otherwise but after giving effect to any applicable grace periodsotherwise) in respect of any Specified Indebtedness or Guarantee (other than Indebtedness hereunder and Indebtedness under Swap Contracts) having an aggregate outstanding principal amount (including undrawn or committed available amounts and amounts owing to all creditors under any combined or syndicated credit arrangement) of more than the Threshold Amount or or (B) fails to observe or perform (after giving effect to any applicable grace periods) any other agreement or condition relating to any such Specified Indebtedness or Guarantee contained in any instrument or agreement evidencing or evidencing, securing such Indebtedness or Guarantee or relating thereto thereto, or any other event of default occurs under the terms of (and as defined in) any such instrument or agreementoccurs, and, in each case either event, the effect of which failure default or other event of default is to cause the acceleration of the maturity thereof; cause: (i) such Specified Indebtedness which does not constitute a Guarantee to be demanded or to become due or to be repurchased, prepaid, defeased or redeemed (automatically or otherwise), prior to its stated maturity, or (ii) there such Specified Indebtedness which constitutes a Guarantee to become payable or cash collateral in respect thereof to be demanded, and in any such case, such failure shall continue after the end of any applicable grace period for such payment; or (ii) There occurs under any particular Swap Contract an Early Termination Date (as defined in such Swap Contract) resulting from from: (A) any event of default under such Swap Contract as to which the Company or any Subsidiary (other than a Non-Recourse Subsidiary) is the Defaulting Party (or equivalent term, as defined in such Swap Contract) or or (B) any Termination Event (as so defined) defined under such Swap Contract Contract) as to which the Company or any Subsidiary (other than a Non-Recourse Subsidiary) is an Affected Party (as so defineddefined 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 the Threshold Amount$175,000,000, and in any such case such failure shall continue after the case end of any Early Termination Date resulting from applicable grace period for 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 Datepayment; or

Appears in 1 contract

Sources: Credit Agreement (Reinsurance Group of America Inc)

Cross-Acceleration. (i) The Company or any Subsidiary (A) fails to make any payment when due (whether by scheduled maturity, required prepayment, acceleration, demand demand, or otherwise but after giving effect to any applicable grace periods) in respect of any Indebtedness or Guarantee (other than Indebtedness hereunder and Indebtedness under Swap Contracts) having an aggregate outstanding principal amount (including undrawn or committed available amounts and amounts owing to all creditors under any combined or syndicated credit arrangement) of more than the Threshold Amount Amount, or (B) fails to observe or perform (after giving effect to any applicable grace periods) any other agreement or condition relating to any such Indebtedness or Guarantee contained in any instrument or agreement evidencing or evidencing, 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, in each case the effect of which failure or other event of default is to cause the 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 (A) 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 (B) any Termination Event (as so defined) under such Swap Contract as to which the Company or any Subsidiary is an Affected Party (as so defined) and, in either event, the Swap Termination Value owed by the Company or such Subsidiary as a result thereof is greater than the 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

Sources: Credit Agreement (Grainger W W Inc)

Cross-Acceleration. (i) The Company Any Loan Party or any Restricted Subsidiary fails to observe or perform any agreement (A) fails including failure to make any payment when due (whether by scheduled maturity, required prepayment, acceleration, demand demand, or otherwise but after giving effect otherwise)) or condition relating to any applicable grace periods) in respect of any Indebtedness or Guarantee (other than Indebtedness hereunder and Indebtedness under Swap Contracts) having an aggregate outstanding principal amount (including undrawn or committed available amounts and amounts owing to all creditors under any combined or syndicated credit arrangement) of more than the Threshold Amount or (B) fails to observe or perform (after giving effect to any applicable grace periods) any other agreement or condition relating to any such Indebtedness or Guarantee contained in any instrument or agreement evidencing or evidencing, securing such Indebtedness or Guarantee or relating thereto thereto, or any other event of default occurs under the terms of (and as defined in) any such instrument or agreementoccurs, in each case the effect of which failure default or other event of default is to cause cause, with the acceleration giving of the maturity thereofnotice if required, such Indebtedness to become immediately due and payable, repurchased, prepaid, defeased or redeemed (automatically or otherwise), or an offer to repurchase, prepay, defease or redeem such Indebtedness to be made, prior to its stated maturity, or such 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 (A) any event of default under such Swap Contract as to which the Company Borrower or any Restricted Subsidiary is the Defaulting Party (or equivalent term, as defined in such Swap Contract) or (B) any Termination Event (as so defined) under such Swap Contract as to which the Company Borrower or any Restricted Subsidiary is an Affected Party (as so defineddefined in such Swap Contract) and, in either event, the Swap Termination Value owed by the Company Loan Party or such Restricted Subsidiary as a result thereof is greater than the 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

Sources: Senior Secured Second Lien Credit Agreement (Dynatrace Holdings LLC)