Common use of An Event of Default is Clause in Contracts

An Event of Default is. (i) a default for 30 days in payment of interest on the Senior Notes; (ii) a default in payment when due of principal of, or premium, if any, on the Senior Notes; (iii) the failure of the Company to comply with any of its other agreements or covenants in, or provisions of, this Indenture or the Senior Notes outstanding under this Indenture and the Default continues for the period, if applicable, and after the notice specified in Section 6.01(b) hereof; (iv) a default by the Company or any Restricted Subsidiary under any mortgage, indenture or instrument under which there may be issued or by which there may be secured or evidenced any Indebtedness for money borrowed by the Company or any Restricted Subsidiary (or the payment of which is guaranteed by the Company or any Restricted Subsidiary), whether such Indebtedness or guarantee now exists or shall be created hereafter, if (A) either (1) such default results from the failure to pay principal of or interest on any such Indebtedness (after giving effect to any extensions thereof) or (2) as a result of such default the maturity of such Indebtedness has been accelerated prior to its expressed maturity, and (B) the principal amount of such Indebtedness, together with the principal amount of any other such Indebtedness in default for failure to pay principal or interest thereon, or because of the acceleration of the maturity thereof, aggregates in excess of $5,000,000; (v) a failure by the Company or any Restricted Subsidiary to pay final judgments (not covered by insurance) aggregating in excess of $5,000,000 which judgments a court of competent jurisdiction does not rescind, annul or stay within 45 days after their entry; (vi) in existence when the Company or any Significant Subsidiary pursuant to or within the meaning of any Bankruptcy Law (A) commences a voluntary case, (B) consents to the entry of an order for relief against it in an involuntary case, (C) consents to the appointment of a Custodian of it or for all or substantially all of its property, or (D) makes a general assignment for the benefit of its creditors; and (vii) in existence when a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that (A) is for relief against the Company or any Significant Subsidiary in an involuntary case, (B) appoints a Custodian of the Company or any Significant Subsidiary or for all or substantially all of the property of the Company or any Significant Subsidiary, or (C) orders the liquidation of the Company or any Significant Subsidiary, and any such order or decree remains unstayed and in effect for 60 days.

An Event of Default is. (i) a default for 30 days in payment of interest on on, or Liquidated Damages, if any, with respect to, the Senior Notes; (ii) a default in payment when due of principal of, or premium, if any, on the Senior Notes; (iii) the failure of the Company to comply with any of its other agreements or covenants in, or provisions of, this Indenture or the Senior Notes outstanding under this Indenture and the Default continues for the period, if applicable, and after the notice specified in Section 6.01(b) hereof; (iv) a default by the Company or any Restricted Subsidiary under any mortgage, indenture or instrument under which there may be issued or by which there may be secured or evidenced any Indebtedness for money borrowed by the Company or any Restricted Subsidiary (or the payment of which is guaranteed by the Company or any Restricted Subsidiary), whether such Indebtedness or guarantee now exists or shall be created hereafter, if (A) either (1) such default results from the failure to pay principal of or interest on any such Indebtedness (after giving effect to any extensions thereof) or (2) as a result of such default the maturity of such Indebtedness has been accelerated prior to its expressed maturity, and (B) the principal amount of such Indebtedness, together with the principal amount of any other such Indebtedness in default for failure to pay principal or interest thereon, or because of the acceleration of the maturity thereof, aggregates in excess of $5,000,000; (v) a failure by the Company or any Restricted Subsidiary to pay final judgments (not covered by insurance) aggregating in excess of $5,000,000 which judgments a court of competent jurisdiction does not rescind, annul or stay within 45 days after their entry; (vi) in existence when the Company or any Significant Subsidiary pursuant to or within the meaning of any Bankruptcy Law (A) commences a voluntary case, (B) consents to the entry of an order for relief against it in an involuntary case, (C) consents to the appointment of a Custodian of it or for all or substantially all of its property, or (D) makes a general assignment for the benefit of its creditors; and (vii) in existence when a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that (A) is for relief against the Company or any Significant Subsidiary in an involuntary case, (B) appoints a Custodian of the Company or any Significant Subsidiary or for all or substantially all of the property of the Company or any Significant Subsidiary, or (C) orders the liquidation of the Company or any Significant Subsidiary, and any such order or decree remains unstayed and in effect for 60 days.

An Event of Default is. (i) a default for 30 days in payment of interest on on, or Liquidated Damages, if any, with respect to, the Senior Notes; (ii) a default in payment when due of principal of, or premium, if any, on with respect to, the Senior Notes; (iii) the failure of the Company Holdings to comply with any of its other agreements or covenants in, or provisions of, this Indenture or the Senior Notes outstanding under this Indenture and the Default continues for the period, if applicable, and after the notice specified in Section 6.01(b) hereof); (iv) a default by the Company Holdings or any Restricted Subsidiary under any mortgage, indenture or instrument under which there may be issued or by which there may be secured or evidenced any Indebtedness for money borrowed by the Company Holdings or any Restricted Subsidiary (or the payment of which is guaranteed by the Company Holdings or any Restricted Subsidiary), whether such Indebtedness or guarantee now exists or shall be created hereafter, if (A) either (1) such default results from the failure to pay principal of or interest on any such Indebtedness at or after the final maturity thereof (after giving effect to any extensions thereof) or (2) as a result of such default the maturity of such Indebtedness has been accelerated prior to its expressed maturity, and (B) the principal amount of such Indebtedness, together with the principal amount of any other such Indebtedness in default for failure to pay principal or interest thereon, or because of the acceleration of the maturity thereof, aggregates in excess of $5,000,00012.5 million; (v) a failure by the Company Holdings or any Restricted Subsidiary to pay final judgments (not covered by insurance) aggregating in excess of $5,000,000 7.5 million, which judgments a court of competent jurisdiction does not rescind, annul or stay within 45 days after their entry;; and (vi) in existence when the Company Holdings or any Significant Subsidiary pursuant to or within the meaning of any Bankruptcy Law Law: (A) commences a voluntary case, , (B) consents to the entry of an order for relief against it in an involuntary case, , (C) consents to the appointment of a Custodian of it or for all or substantially all of its property, or or (D) makes a general assignment for the benefit of its creditors; and (vii) in existence when a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that that: (A) is for relief against the Company Holdings or any Significant Subsidiary in an involuntary case, , (B) appoints a Custodian of the Company Holdings or any Significant Subsidiary or for all or substantially all of the property of the Company Holdings or any Significant Subsidiary, or or (C) orders the liquidation of the Company Holdings or any Significant Subsidiary, and any such order or decree remains unstayed and in effect for 60 days.