Common use of Defaults of Other Indebtedness Clause in Contracts

Defaults of Other Indebtedness. (a) Any Borrower Entity or either Partner shall fail to observe or perform any covenant or agreement contained in any material agreement or instrument relating to any of its Indebtedness in excess of $1,000,000 within any applicable grace period, or any other event shall occur, if the effect of such failure or other event is to accelerate the maturity of such Indebtedness or cause the holder of such Indebtedness to take steps to accelerate such Indebtedness; or any such Indebtedness shall be required to be prepaid (other than by a regularly scheduled required prepayment or a refinancing thereof) in whole or in part prior to its stated maturity or (b) the Sponsor shall fail to observe or perform any covenant or agreement contained in any agreement or instrument relating to any of its Indebtedness in excess of $25,000,000 within any applicable grace period, or any other event shall occur, if the effect of such failure or other event is to accelerate the maturity of such Indebtedness or cause the holder of such Indebtedness to take steps to accelerate such Indebtedness; or any such Indebtedness shall be required to be prepaid (other than by a regularly scheduled required prepayment or a refinancing thereof) in whole or in part prior to its stated maturity;

Defaults of Other Indebtedness. (a) Any Borrower Entity or either Partner shall fail to observe or perform any covenant or agreement contained in any material agreement or instrument relating to any of its Indebtedness in excess of $1,000,000 within any applicable grace period, or any other event shall occur, if the effect of such failure or other event is to accelerate the maturity of such Indebtedness or cause the holder of such Indebtedness to take steps to accelerate such Indebtedness; or any such Indebtedness shall be required to be prepaid (other than by a regularly scheduled required prepayment or a refinancing thereof) in whole or in part prior to its stated maturity or (b) the Sponsor shall fail to observe or perform any covenant or agreement contained in any agreement or instrument relating to any of its Indebtedness in excess of $25,000,000 5,000,000 within any applicable grace period, or any other event shall occur, if the effect of such failure or other event is to accelerate the maturity of such Indebtedness or cause the holder of such Indebtedness to take steps to accelerate such Indebtedness; or any such Indebtedness shall be required to be prepaid (other than by a regularly scheduled required prepayment or a refinancing thereof) in whole or in part prior to its stated maturity;

Defaults of Other Indebtedness. (a) Any Borrower Entity or either Partner shall fail to observe or perform any covenant or agreement contained in any material agreement or instrument relating to any of its Indebtedness in excess of $1,000,000 within any applicable grace period, or any other event shall occur, if the effect of such failure or other event is to accelerate the maturity of such Indebtedness or cause the holder of such Indebtedness to take steps to accelerate such Indebtedness; or any such Indebtedness shall be required to be prepaid (other than by a regularly scheduled required prepayment or a refinancing thereof) in whole or in part prior to its stated maturity maturity, (b) an Event of Default shall occur under the OPNY Restated Credit Agreement or (bc) the Sponsor shall fail to observe or perform any covenant or agreement contained in any agreement or instrument relating to any of its Indebtedness in excess of $25,000,000 within any applicable grace period, or any other event shall occur, if the effect of such failure or other event is to accelerate the maturity of such Indebtedness or cause the holder of such Indebtedness to take steps to accelerate such Indebtedness; or any such Indebtedness shall be required to be prepaid (other than by a regularly scheduled required prepayment or a refinancing thereof) in whole or in part prior to its stated maturity;

Defaults of Other Indebtedness. (a) Any Borrower Entity or either Partner shall fail to observe or perform any covenant or agreement contained in any material agreement or instrument relating to any of its Indebtedness in excess of $1,000,000 within any applicable grace period, or any other event shall occur, if the effect of such failure or other event is to accelerate the maturity of such Indebtedness or cause the holder of such Indebtedness to take steps to accelerate such Indebtedness; or any such Indebtedness shall be required to be prepaid (other than by a regularly scheduled required prepayment or a refinancing thereof) in whole or in part prior to its stated maturity maturity, (b) an Event of Default shall occur under the OPMW Restated Credit Agreement or (bc) the Sponsor shall fail to observe or perform any covenant or agreement contained in any agreement or instrument relating to any of its Indebtedness in excess of $25,000,000 within any applicable grace period, or any other event shall occur, if the effect of such failure or other event is to accelerate the maturity of such Indebtedness or cause the holder of such Indebtedness to take steps to accelerate such Indebtedness; or any such Indebtedness shall be required to be prepaid (other than by a regularly scheduled required prepayment or a refinancing thereof) in whole or in part prior to its stated maturity;