Common use of Default Under Related Agreements or Other Agreements Clause in Contracts

Default Under Related Agreements or Other Agreements. The occurrence and continuance of (x) any Event of Default (as defined in any Related Agreement) or (y) any event of default (or similar term) under any other indebtedness (following any applicable grace period), the principal amount of which indebtedness referred to in this clause (y) exceeds $50,000 in the aggregate.

Appears in 1 contract

Sources: Secured Convertible Term Note (Xstream Beverage Group Inc)

Default Under Related Agreements or Other Agreements. The occurrence ------------------------------------------------------ and continuance of (x) any Event of Default (as defined in any Related Agreement) or (y) any event of default (or similar term) under any other indebtedness (following any applicable cure or grace period), the principal amount of which indebtedness referred to in this clause (y) exceeds $50,000 in the aggregate.

Appears in 1 contract

Sources: Secured Convertible Term Note (Sequiam Corp)