Common use of Moratorium Clause in Contracts

Moratorium. A moratorium is declared with respect to any Material Indebtedness of an Obligor and the moratorium remains undismissed for a period of more than thirty (30) days (for the avoidance of doubt, the ending of such moratorium will not remedy any Event of Default caused by such moratorium); or

Moratorium. A moratorium is declared with respect to any Material Indebtedness of an Obligor or Parent and the moratorium remains undismissed for a period of more than thirty (30) days (for the avoidance of doubt, the ending of such moratorium will not remedy any Event of Default caused by such moratorium); or