Default Under Other Borrowings. Default shall be made with respect to any Indebtedness for Borrowed Money (other than the Loan) if the default is a failure to pay at maturity or if the effect of such default is to accelerate the maturity of such Indebtedness for Borrowed Money or to permit the holder or obligee thereof or other party thereto to cause any such Indebtedness for Borrowed Money to become due prior to its stated maturity.
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Sources: Financing and Security Agreement (Pec Solutions Inc), Financing and Security Agreement (Pec Solutions Inc)
Default Under Other Borrowings. Default shall be made with respect to any Indebtedness for Borrowed Money (other than the LoanLoans, but including any Subordinated Indebtedness) if the default is a failure to pay at maturity or if the effect of such default is to accelerate the maturity of such evidence of the Indebtedness for Borrowed Money or to permit the holder or obligee thereof or other party thereto to cause any such Indebtedness for Borrowed Money indebtedness to become due prior to its stated maturity.
Appears in 1 contract
Sources: Financing and Security Agreement (Cta Incorporated)
Default Under Other Borrowings. Default shall be made with respect to any Indebtedness for Borrowed Money (other than the LoanLoan and the Outstanding Letter of Credit Obligations) if the default is a failure to pay at maturity or if the effect of such default is to accelerate the maturity of such Indebtedness for Borrowed Money or to permit the holder or obligee thereof or other party thereto to cause any such Indebtedness for Borrowed Money to become due prior to its stated maturity.
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