Common use of Event Cross Default Clause in Contracts

Event Cross Default. if a default, event of default or other similar condition or event (however described) in respect of the Borrower or any of its Material Subsidiaries (or any combination thereof, without duplication) occurs or exists under any indentures, credit agreements, agreements or other instruments evidencing or relating to Debt or Financial Instrument Obligations thereof (individually or collectively) in an aggregate amount in excess of the Threshold Amount (or the Equivalent Amount thereof in United States Dollars or the equivalent thereof in any other currency) and such default, event or condition has resulted in such Debt or Financial Instrument Obligations becoming, or becoming capable at such time of being declared, due and payable thereunder before it would otherwise have been due and payable; provided that, solely with respect to the EDC Guaranteed LC Facility, no Default or Event of Default shall have occurred solely as a result of a demand for payment thereunder, unless such demand remains outstanding and has not been fully satisfied within 10 days after the making of such demand;