Common use of Acceleration of Other Debt Clause in Contracts

Acceleration of Other Debt. BREACH OF LEASE. The occurrence of any event such that any Indebtedness in excess of $2,500,000 of the Borrower to any creditor other than the Agent, any Revolving Credit Lender or any Term Loan Lender could be accelerated or, without the consent of the Borrower, any Capital Lease valued in excess of $2,500,000 or more than Three (3) Leases could be terminated (whether or not the subject creditor or lessor takes any action on account of such occurrence).

Appears in 1 contract

Sources: Loan and Security Agreement (Gander Mountain Co)

Acceleration of Other Debt. BREACH OF LEASE. The occurrence of any event such that any Indebtedness in excess of $2,500,000 1,000,000 of the Borrower to any creditor other than the Agent, any Revolving Credit Lender or any Term Loan Lender could be accelerated or, without the consent of the Borrower, any Capital Lease valued in excess of $2,500,000 1,000,000 or more than Three (3) Leases could be terminated (whether or not the subject creditor or lessor takes any action on account of such occurrence).

Appears in 1 contract

Sources: Loan and Security Agreement (Gander Mountain Co)