Common use of Debt Default Clause in Contracts

Debt Default. Except as disclosed in SCHEDULE 3.23, neither the Borrower nor any of its Subsidiaries is in default or breach under any instrument evidencing any Indebtedness in an aggregate principal amount greater than Cdn.$5,000,000 (or its US Dollar equivalent) or under the terms of any instrument pursuant to which an instrument evidencing any Indebtedness in an aggregate principal amount greater than Cdn.$5,000,000 (or its US Dollar equivalent) has been issued or made and delivered.

Appears in 1 contract

Sources: Credit Agreement (Gerdau Ameristeel Corp)

Debt Default. Except as disclosed in SCHEDULE Schedule 3.23, neither the Borrower nor any of its Subsidiaries is in default or breach under any instrument evidencing any Indebtedness in an aggregate principal amount greater than Cdn.$5,000,000 Cdn. $5,000,000 (or its US Dollar equivalent) or under the terms of any instrument pursuant to which an instrument evidencing any Indebtedness in an aggregate principal amount greater than Cdn.$5,000,000 Cdn. $5,000,000 (or its US Dollar equivalent) has been issued or made and delivered.

Appears in 1 contract

Sources: Credit Agreement (Gerdau Ameristeel Corp)