Common use of Default of Indebtedness Clause in Contracts

Default of Indebtedness. No Borrower is, and RHC is not, in default in the payment of the principal of or interest on any Indebtedness or under any instrument or agreement under or subject to which any Indebtedness has been issued, which default could reasonably be expected to have a Material Adverse Effect, and no event has occurred under the provisions of any such instrument or agreement which with or without the lapse of time or the giving of notice, or both, constitutes or would constitute an event of default thereunder, which event of default could reasonably be expected to have a Material Adverse Effect.