Common use of Lien Default Clause in Contracts

Lien Default. The holder of any lien, whether now or hereafter ------------- existing, granted or assumed by the Company, and securing any indebtedness exceeding One Million Dollars ($1,000,000) in the aggregate (whether or not indebtedness of the Company) takes substantial steps to enforce the same because of the nonpayment (whether by acceleration or otherwise) of the indebtedness secured thereby.