Cross-Default Sample Clauses

Cross-Default. default by the Issuer or any of the Issuers Material Subsidiaries (as defined below) or the Guarantors or any of them or any of their respective Material Subsidiaries in the payment of the principal of, or interest on, any Public External Indebtedness (as defined below) of, or guaranteed by, the Issuer or any of the Issuers Material Subsidiaries or the Guarantors or any of them or any of their respective Material Subsidiaries, in an aggregate principal amount exceeding U.S. $40,000,000 or its equivalent, when and as the same shall become due and payable, if such default shall continue for more than the period of grace, if any, originally applicable thereto; or
Cross-Default. default by the Issuer Issuer, the Guarantor or any of the Issuers Guarantors Material Subsidiaries (as defined below) or the Subsidiary Guarantors or any of them or any of their respective Material Subsidiaries in the payment of the principal of, or interest on, any Public External Indebtedness (as defined below) of, or guaranteed by, the Issuer Issuer, the Guarantor or any of the Issuers Guarantors Material Subsidiaries or the Subsidiary Guarantors or any of them or any of their respective Material Subsidiaries, in an aggregate principal amount exceeding U.S. $40,000,000 or its equivalent, when and as the same shall become due and payable, if such default shall continue for more than the period of grace, if any, originally applicable thereto; or
Appears in 18 contracts
Cross-Default. default by the Issuer A Credit Party or any of its Subsidiaries shall (i) default in any payment of principal of or interest on any Indebtedness (other than the Issuers Material Subsidiaries (as defined belowCredit Party Obligations) in a principal amount outstanding of at least $5,000,000 individually, or the Guarantors or any of them or any of their respective Material Subsidiaries $10,000,000 in the payment of aggregate, for the principal of, or interest on, any Public External Indebtedness (as defined below) of, or guaranteed by, the Issuer or any of the Issuers Material Subsidiaries or the Guarantors or any of them or any of Credit Parties and their respective Material Subsidiaries, in an aggregate principal amount exceeding U.S. $40,000,000 or its equivalent, when and as the same shall become due and payable, if such default shall continue for more than beyond the period of gracegrace (not to exceed 30 days), if any, originally applicable provided in the instrument or agreement under which such Indebtedness was created; or (ii) default in the observance or performance of any other agreement or condition relating to any Indebtedness in a principal amount outstanding of at least $5,000,000 individually, or $10,000,000 in the aggregate, for the Credit Parties and their Subsidiaries, or contained in any instrument or agreement evidencing, securing or relating thereto, or any other event shall occur or condition exist, the effect of which default or other event or condition is to cause, or to permit the holder or holders of such Indebtedness or beneficiary or beneficiaries of such Indebtedness (or a trustee or agent on behalf of such holder or holders or beneficiary or beneficiaries) to cause, with the giving of notice if required, such Indebtedness to become due prior to its stated maturity; or (iii) breach or default under any Secured Hedging Agreement in an amount exceeding $5,000,000 in the aggregate for the Credit Parties and their Subsidiaries; or
Cross-Default. default by the The Issuer or any Subsidiary of the Issuers Material Subsidiaries Issuer is in default under any indebtedness or other obligations (as defined below) other than those evidenced by this Note), which default would cause or permit the Guarantors holder of such indebtedness or any of them or any of their respective Material Subsidiaries in other obligations to accelerate the payment of the principal of, or interest on, any Public External Indebtedness (as defined below) of, or guaranteed by, the Issuer or any of the Issuers Material Subsidiaries or the Guarantors or any of them or any of their respective Material Subsidiaries, in an aggregate principal amount exceeding U.S. $40,000,000 or its equivalent, when and as the same shall become due and payable, if such default shall continue for more than the period of grace, if any, originally applicable theretomaturity thereof; or
Appears in 3 contracts
Cross-Default. default by the Issuer The Borrower or any of the Issuers Material Subsidiaries (as defined below) or the Guarantors or Subsidiary shall fail to pay any of them or any of their respective Material Subsidiaries in the payment part of the principal of, the premium, if any, or the interest on, or any Public External other payment of money due under, any of its Indebtedness (other than Indebtedness under this Agreement or other Indebtedness owed to the Lenders), beyond any period of grace provided with respect thereto, which individually or together with other such Indebtedness as defined below) ofto which any such failure exists has an aggregate outstanding principal amount in excess of $500,000; or the Borrower or any Subsidiary shall fail to perform or observe any other term, covenant or agreement contained in any agreement, document or instrument evidencing or securing any such Indebtedness having such aggregate outstanding principal amount, or guaranteed byunder which any such Indebtedness was issued or created, the Issuer or beyond any of the Issuers Material Subsidiaries or the Guarantors or any of them or any of their respective Material Subsidiaries, in an aggregate principal amount exceeding U.S. $40,000,000 or its equivalent, when and as the same shall become due and payable, if such default shall continue for more than the period of grace, if any, originally applicable thereto; orprovided with respect thereto if the effect of such failure is either (i) to cause, or permit the holders of such Indebtedness (or a trustee on behalf of such holders) to cause, any payment in respect of such Indebtedness to become due prior to its due date or (ii) to permit the holders of such Indebtedness (or a trustee on behalf of such holders) to elect a majority of the board of directors of the Borrower.
Cross-Default. default by The Borrower, any Restricted Subsidiary, the Issuer General Partner, any of its Subsidiaries or the Public Partnership or any of the Issuers Material its Subsidiaries (other than the Partnership Unrestricted Subsidiaries) (as defined belowprincipal or guarantor or other surety) or the Guarantors or any of them or any of their respective Material Subsidiaries shall default in the payment of the any amount of principal of, of or premium or interest onon any Senior Indebtedness or any other Indebtedness, other than the Obligations (regardless of whether or not such payment default shall have been waived by the holders of such Indebtedness); or any event shall occur or condition shall exist in respect of any Indebtedness of the Borrower, any Public External Indebtedness (as defined below) of, or guaranteed byRestricted Subsidiary, the Issuer General Partner, any of its Subsidiaries or the Public Partnership or any of its Subsidiaries (other than the Issuers Material Partnership Unrestricted Subsidiaries) or under any evidence of any such Indebtedness or under any mortgage, indenture or other agreement relating thereto, and the effect of such event or condition is to cause (or to permit one or more Persons to cause) such Indebtedness to become due or be repurchased or repaid before its stated maturity or before its regularly scheduled dates of payment (other than pursuant to mandatory prepayment provisions pursuant to a (1) Change of Control or similar transaction or (2) prepayment under circumstances and on terms substantially identical to, and not inconsistent with, Section 9.3(b) of each of the First Mortgage Note Agreements as in effect on the Closing Date to the extent it relates to Excess Taking Proceeds, as defined therein, or Section 8.8(c)(ii) hereof to the extent it relates to Excess Sale Proceeds, in each case not involving a default) or to permit the holders thereof to cause the Borrower, any Restricted Subsidiary, the General Partner, any of its Subsidiaries or the Guarantors Public Partnership or any of them its Subsidiaries (other than the Partnership Unrestricted Subsidiaries) to repurchase or any repay such Indebtedness (other than pursuant to mandatory prepayment provisions pursuant to a (1) Change of their respective Material SubsidiariesControl or similar transaction or (2) prepayment under circumstances and on terms substantially identical to, and not inconsistent with, Section 9.3(b) of each of the First Mortgage Note Agreements as in effect on the Closing Date to the extent it related to Excess Taking Proceeds, as defined therein, or Section 8.3(c)(ii) to the extent it relates to Excess Sale Proceeds, in an aggregate principal amount exceeding U.S. $40,000,000 each case not involving a default), and such default, event or its equivalent, when and as the same shall become due and payable, if such default condition shall continue for more than the period of grace, if any, originally applicable theretospecified therein (regardless of whether or not such default, event or condition shall have been waived by the holders of such Indebtedness); provided, that the aggregate principal amount of all Indebtedness as to which such a default (payment or other), event or condition shall occur or exist exceeds $7,500,000; or
Cross-Default. A default by the Issuer or event of default shall have occurred under any agreement, indenture or other instrument relating to other Indebtedness of either of the Issuers Material Subsidiaries (as defined below) or the Guarantors or any of them Borrowers or any of their respective Material Subsidiaries that is outstanding in a principal amount of at least US$10,000,000 in the payment aggregate (or the equivalent thereof, as of the principal ofany date of determination, in any other currency) or under any foreign exchange, currency or interest on, any Public External Indebtedness rate swap agreement having a mark to market liability or other termination liability in an amount exceeding US$5,000,000 (as defined below) of, or guaranteed by, the Issuer or any of the Issuers Material Subsidiaries or the Guarantors equivalent thereof in any other currency) beyond any applicable grace period contained in the agreement, indenture or any of them or any of their respective Material Subsidiaries, in an aggregate principal amount exceeding U.S. $40,000,000 or its equivalent, when and as the same shall become due and payable, if such default shall continue for more than the period of grace, if any, originally applicable other instrument relating thereto; or;
Cross-Default. default by (i) Failure of the Issuer Company or any of the Issuers Material its Subsidiaries (as defined below) to pay when due any principal of or the Guarantors interest on or any other amount payable in respect of them one or any more items of their respective Material Subsidiaries in the payment of the principal of, or interest on, any Public External Indebtedness (as defined belowother than Indebtedness referred to in subsection (a) of, or guaranteed by, the Issuer or any of the Issuers Material Subsidiaries or the Guarantors or any of them or any of their respective Material Subsidiaries, in above) with an aggregate principal amount exceeding U.S. of $40,000,000 30,000,000 or more beyond the end of any grace or notice period provided therefor; or (ii) breach or default by the Company or any of its equivalentSubsidiaries with respect to any other material term of (A) one or more items of Indebtedness in the aggregate principal amount of $30,000,000 or (B) any loan agreement, when and as the same shall become due and payablemortgage, indenture or other agreement relating to such item(s) of Indebtedness, if such breach or default shall continue for more than continues after any applicable grace or notice period provided therefor and the period effect of gracesuch breach or default is to cause, if anyor to permit the holder or holders of that Indebtedness (or a trustee on behalf of such holder or holders) to cause, originally applicable theretothat Indebtedness to become or be declared due and payable prior to its stated maturity or the stated maturity of any underlying obligation, as the case may be; or
Cross-Default. default (i) Default in the payment when due (subject to any applicable grace period), whether by the Issuer acceleration or otherwise, of any Indebtedness of the Issuers Material Subsidiaries (as defined below) or Borrower, the Guarantors or any of them Parent or any of their respective Material Subsidiaries (except any such Indebtedness of any Subsidiary to the Borrower, the Parent or to any other Subsidiary) in excess of $50,000,000 in the payment of the principal ofaggregate, or interest on, (ii) default in the performance or observance of any Public External obligation or condition (after the expiration of any applicable grace period) with respect to any such Indebtedness (as defined below) ofin excess of $50,000,000 in the aggregate if the effect of such default in the performance or observance is to accelerate the maturity of Indebtedness or to permit the holder or holders thereof, or guaranteed byany trustee or agent for such holders, to cause (after the Issuer or expiration of any of the Issuers Material Subsidiaries or the Guarantors or any of them or any of their respective Material Subsidiaries, in an aggregate principal amount exceeding U.S. $40,000,000 or its equivalent, when and as the same shall applicable grace period) such Indebtedness to become due and payable, if such default shall continue for more than the period of grace, if any, originally applicable theretopayable prior to its expressed maturity; or
Cross-Default. default by the Issuer A Credit Party or any of its Subsidiaries shall (i) default in any payment of principal of or interest on any Indebtedness (other than the Issuers Material Subsidiaries (as defined belowCredit Party Obligations) or the Guarantors or any in a principal amount outstanding of them or any of their respective Material Subsidiaries at least $1,000,000 in the payment of aggregate for the principal of, or interest on, any Public External Indebtedness (as defined below) of, or guaranteed by, the Issuer or any of the Issuers Material Credit Parties and their Subsidiaries or the Guarantors or any of them or any of their respective Material Subsidiaries, in an aggregate principal amount exceeding U.S. $40,000,000 or its equivalent, when and as the same shall become due and payable, if such default shall continue for more than beyond the period of gracegrace (not to exceed 30 days), if any, originally applicable provided in the instrument or agreement under which such Indebtedness was created; or (ii) default in the observance or performance of any other agreement or condition relating to any Indebtedness in a principal amount outstanding of at least $1,000,000 in the aggregate for the Credit Parties and their Subsidiaries or contained in any instrument or agreement evidencing, securing or relating thereto, or any other event shall occur or condition exist, the effect of which default or other event or condition is to cause, or to permit the holder or holders of such Indebtedness or beneficiary or beneficiaries of such Indebtedness (or a trustee or agent on behalf of such holder or holders or beneficiary or beneficiaries) to cause, with the giving of notice if required, such Indebtedness to become due prior to its stated maturity; or (iii) breach or default any Secured Hedging Agreement; or
Cross-Default. The Company shall default by in the Issuer payment when due of any principal of or interest on any of its other Material Indebtedness or any of the Issuers Material its Subsidiaries (as defined below) or the Guarantors or any of them or any of their respective Material Subsidiaries shall default in the payment when due of any principal of or interest on any of its Material Indebtedness; or any event specified in any note, agreement, indenture or other document evidencing or relating to any such Material Indebtedness shall occur if the principal ofeffect of such event is to cause, or interest on, (with the giving of any Public External notice or the lapse of time or both) to permit the holder or holders of such Material Indebtedness (as defined belowor a trustee or agent on behalf of such holder or holders) ofto cause, such Material Indebtedness to become due, or guaranteed byto be prepaid in full (whether by redemption, purchase, offer to purchase or otherwise), prior to its stated maturity (as used herein, the Issuer term "Material Indebtedness" means any Indebtedness (other than the Obligations) with an outstanding principal balance of $5,000,000 or any of the Issuers Material Subsidiaries or the Guarantors or any of them or any of their respective Material Subsidiariesmore, in an aggregate principal amount exceeding U.S. $40,000,000 any individual case or its equivalentin the aggregate) and with respect to Imbali Metals BVBA, when and as the same shall become due and payable, if such default shall continue for more than the period of grace, if any, originally applicable theretoImbali Facility; or
Cross-Default. Any default by the Issuer Company or any Significant Subsidiary of the Issuers Material Subsidiaries Company with respect to any mortgage, agreement or other instrument under which there may be outstanding, or by which there may be secured or evidenced, any indebtedness for money borrowed in excess of US$15 million (as defined below) or the Guarantors or any of them or any of their respective Material Subsidiaries foreign currency equivalent thereof) in the payment of the principal of, or interest on, any Public External Indebtedness (as defined below) of, or guaranteed by, the Issuer or any of the Issuers Material Subsidiaries or the Guarantors or any of them or any of their respective Material Subsidiaries, in an aggregate principal amount exceeding U.S. $40,000,000 or its equivalent, when and as the same shall become due and payable, if such default shall continue for more than the period of grace, if any, originally applicable thereto; orthe
Cross-Default. default (i) Default in the payment when due (subject to any applicable grace period), whether by the Issuer acceleration or otherwise, of any Indebtedness of the Issuers Material Subsidiaries (as defined below) or Borrower, the Guarantors or any of them Parent or any of their respective Material Subsidiaries (except any such Indebtedness of any Subsidiary to the Borrower, the Parent or to any other Subsidiary) in excess of $50,000,000 in the payment of the principal ofaggregate, or interest on, (ii) default in the performance or observance of any Public External obligation or condition (after the expiration of any applicable grace period) with respect to any such Indebtedness (as defined below) ofin excess of $50,000,000 in the aggregate if the effect of such default in the performance or observance is to accelerate the maturity of such Indebtedness or to permit the holder or holders thereof, or guaranteed byany trustee or agent for such holders, to cause (after the Issuer or expiration of any of the Issuers Material Subsidiaries or the Guarantors or any of them or any of their respective Material Subsidiaries, in an aggregate principal amount exceeding U.S. $40,000,000 or its equivalent, when and as the same shall applicable grace period) such Indebtedness to become due and payable, if such default shall continue for more than the period of grace, if any, originally applicable theretopayable prior to its expressed maturity; or
Cross-Default. default by the Issuer Any Credit Party or any of its Subsidiaries shall (i) default in any payment of principal of or interest on any Indebtedness (other than the Issuers Material Subsidiaries (as defined belowNotes) or the Guarantors or any in a principal amount outstanding of them or any of their respective Material Subsidiaries at least $1,000,000 in the payment of aggregate for the principal of, or interest on, any Public External Indebtedness (as defined below) of, or guaranteed by, the Issuer or any of the Issuers Material Credit Parties and their Subsidiaries or the Guarantors or any of them or any of their respective Material Subsidiaries, in an aggregate principal amount exceeding U.S. $40,000,000 or its equivalent, when and as the same shall become due and payable, if such default shall continue for more than beyond the period of gracegrace (not to exceed 30 days), if any, originally applicable provided in the instrument or agreement under which such Indebtedness was created; or (ii) default in the observance or performance of any other agreement or condition relating to any Indebtedness in a principal amount outstanding of at least $1,000,000 in the aggregate for the Credit Parties and their Subsidiaries or contained in any instrument or agreement evidencing, securing or relating thereto, or any other event shall occur or condition exist, the effect of which default or other event or condition is to cause, or to permit the holder or holders of such Indebtedness or beneficiary or beneficiaries of such Indebtedness (or a trustee or agent on behalf of such holder or holders or beneficiary or beneficiaries) to cause, with the giving of notice if required, such Indebtedness to become due prior to its stated maturity; or
Cross-Default. A default by or event of default shall have occurred under any agreement, indenture or other instrument relating to other Indebtedness of either of the Issuer Borrowers or any of the Issuers Material Subsidiaries that is outstanding in a principal amount of at least US$10,000,000 in the aggregate (or the equivalent thereof, as defined belowof any date of determination, in any other currency) or under any foreign exchange, currency or interest rate swap agreement having a mark to market liability or other termination liability in an amount exceeding US$5,000,000 (or the Guarantors or equivalent thereof in any of them or other currency) beyond any of their respective Material Subsidiaries applicable grace period contained in the payment of the principal ofagreement, indenture or interest on, any Public External Indebtedness (as defined below) of, or guaranteed by, the Issuer or any of the Issuers Material Subsidiaries or the Guarantors or any of them or any of their respective Material Subsidiaries, in an aggregate principal amount exceeding U.S. $40,000,000 or its equivalent, when and as the same shall become due and payable, if such default shall continue for more than the period of grace, if any, originally applicable other instrument relating thereto; or;
Cross-Default. default by the Issuer or any of the Issuers Material Subsidiaries (as defined below) or the Guarantors or any of them or any of their respective Material Subsidiaries other than a default in the payment of principal or interest) shall be made with respect to any Indebtedness of the principal of, or interest on, any Public External Indebtedness (as defined below) of, or guaranteed by, the Issuer Borrower or any of the Issuers Material its Subsidiaries or the Guarantors or any of them or any of their respective Material Subsidiaries, in having an aggregate principal amount exceeding U.S. of more than $40,000,000 or its equivalent, when and as 20,000,000 if the same shall become due and payable, if effect of any such default or defaults shall continue for more than be to accelerate, or to permit the holder or obligee of any such Indebtedness (or any trustee on behalf of such holder or obligee) to accelerate (with or without notice or lapse of time or both), the maturity of any such Indebtedness; or any payment of principal or interest, regardless of amount, on any Indebtedness of the Borrower or any of its Subsidiaries, which Indebtedness exceeds in the aggregate an amount equal to $20,000,000, shall not be paid when due, whether at maturity, by acceleration or otherwise (after giving effect to any period of grace, if any, originally applicable theretograce as specified in the instrument evidencing or governing such Indebtedness); or
Cross-Default. default by the Issuer The Borrower or any of the Issuers Material Subsidiaries (as defined below) or the Guarantors or Subsidiary shall fail to pay any of them or any of their respective Material Subsidiaries in the payment part of the principal of, the premium, if any, or the interest on, or any Public External other payment of money due under, any of its Indebtedness (other than Indebtedness under this Agreement or other Indebtedness owed to the Banks), beyond any period of grace provided with respect thereto, which individually or together with other such Indebtedness as defined below) ofto which any such failure exists has an aggregate outstanding principal amount in excess of $500,000.00; or the Borrower or any Subsidiary shall fail to perform or observe any other term, covenant or agreement contained in any agreement, document or instrument evidencing or securing any such Indebtedness having such aggregate outstanding principal amount, or guaranteed byunder which any such Indebtedness was issued or created, the Issuer or beyond any of the Issuers Material Subsidiaries or the Guarantors or any of them or any of their respective Material Subsidiaries, in an aggregate principal amount exceeding U.S. $40,000,000 or its equivalent, when and as the same shall become due and payable, if such default shall continue for more than the period of grace, if any, originally applicable thereto; orprovided with respect thereto if the effect of such failure is either (i) to cause, or permit the holders of such Indebtedness (or a trustee on behalf of such holders) to cause, any payment in respect of such Indebtedness to become due prior to its due date or (ii) to permit the holders of such Indebtedness (or a trustee on behalf of such holders) to elect a majority of the board of directors of the Borrower.
Appears in 1 contract Credit Agreement (QC Holdings, Inc.),
Cross-Default. There shall occur any default, event of default or termination event with respect to, or any event that might become such with notice or the passage of time or both, or any similar event with respect to, or any event that requires the prepayment of, any Indebtedness or Hedging Transaction of the Borrower or any Subsidiary in the aggregate amount of $1,000,000 or more or the acceleration of the maturity thereof (or termination thereof in the case of a Hedging Transaction) under the terms of any evidence of Indebtedness or Hedging Transaction or other agreement issued or assumed or entered into by the Issuer Borrower or any Subsidiary, or under the terms of the Issuers Material Subsidiaries (as defined below) any indenture, agreement or the Guarantors other instrument under which any such Indebtedness or any of them or any of their respective Material Subsidiaries Hedging Transaction in the payment aggregate amount of the principal of$1,000,000 or more is evidenced, issued, assumed, secured, or interest onguaranteed, any Public External Indebtedness (as defined below) ofand such default, event of default or guaranteed by, the Issuer or any of the Issuers Material Subsidiaries or the Guarantors or any of them or any of their respective Material Subsidiaries, in an aggregate principal amount exceeding U.S. $40,000,000 or its equivalent, when and as the same shall become due and payable, if such default event shall continue for more than the beyond any applicable period of grace, if any, originally applicable thereto; or;
Cross-Default. default by (i) Failure of the Issuer Company or any of the Issuers Material its Subsidiaries (as defined below) to pay when due any principal of or the Guarantors interest on or any other amount payable in respect of them one or any more items of their respective Material Subsidiaries in the payment of the principal of, or interest on, any Public External Indebtedness (as defined belowother than Indebtedness referred to in subsection (a) of, or guaranteed by, the Issuer or any of the Issuers Material Subsidiaries or the Guarantors or any of them or any of their respective Material Subsidiaries, in above) with an aggregate principal amount exceeding U.S. of $40,000,000 75,000,000 or more beyond the end of any grace or notice period provided therefor; or (ii) breach or default by the Company or any of its equivalentSubsidiaries with respect to any other material term of (A) one or more items of Indebtedness in the aggregate principal amount of $75,000,000 or (B) any loan agreement, when and as the same shall become due and payablemortgage, indenture or other agreement relating to such item(s) of Indebtedness, if such breach or default shall continue for more than continues after any applicable grace or notice period provided therefor and the period effect of gracesuch breach or default is to cause, if anyor to permit the holder or holders of that Indebtedness (or a trustee on behalf of such holder or holders) to cause, originally applicable theretothat Indebtedness to become or be declared due and payable prior to its stated maturity or the stated maturity of any underlying obligation, as the case may be; or