Common use of This Article Not to Prevent Events of Default Clause in Contracts

This Article Not to Prevent Events of Default. The failure to make a payment on account of principal of or interest on the Subordinated Debt Instruments by reason of any provision of this Article Two shall not be construed as preventing the occurrence of an Event of Default specified in [payment default Sections].

Appears in 4 contracts

Samples: Global Security Agreement (Global Crossing LTD), Intercreditor Agreement (Global Crossing North America Inc), Global Security Agreement (Global Crossing LTD)

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