Failure to Pay Certain Other Indebtedness. The Company or any of its Subsidiaries does not pay principal of or interest on any other Debt, Assured Obligation or Letter of Credit Obligation, in an amount of $10,000,000 or more, owed to a financial institution, when due or within any grace period allowed by such Debt, Assured Obligation or Letter of Credit Obligation, or if the holder of such other Debt, Assured Obligation or Letter of Credit Obligation declares, or may declare, such other Debt, Assured Obligation or Letter of Credit Obligation due prior to its stated maturity because of the Company's or such Subsidiary's default thereunder unless such default is waived or cured within one business day of its discovery; or
Appears in 2 contracts
Sources: Competitive Advance and Revolving Credit Facility Agreement (Service Corporation International), Competitive Advance and Revolving Credit Facility Agreement (Service Corporation International)