Common use of Default of Other Debt Clause in Contracts

Default of Other Debt. The default under any promissory note or other evidence of Indebtedness in an amount equal to or greater than $500,000 executed by Borrower or any other Company, or the default by any obligee under any Indebtedness or any other obligation in an amount equal to or greater than $500,000 under any credit or other agreement under which Borrower or any other Company is an obligor.