Common use of Acceleration of Other Debt Clause in Contracts

Acceleration of Other Debt. The occurrence of any event such that Indebtedness of any Borrower in excess of $1,000,000 to any creditor (other than any Agent or any Lender) incurred subsequent to the Filing Date could be accelerated unless, prior to the acceleration of the Liabilities on account of such occurrence, the other creditor duly waives such default and evidence of such written waiver is provided to the Administrative Agent.

Appears in 1 contract

Sources: Loan and Security Agreement (Jacobson Stores Inc)

Acceleration of Other Debt. The occurrence of any event such that Indebtedness of any Borrower in excess of $1,000,000 1,000,000.00 to any creditor (other than any Agent or any Lender) incurred subsequent to the Filing Date Lender could be accelerated unless, prior to the acceleration of the Liabilities on account of such occurrence, the other creditor duly waives such default and evidence of such written waiver is provided to the Administrative Agent.

Appears in 1 contract

Sources: Loan and Security Agreement (Baker J Inc)