Common use of Failure to Pay Indebtedness Clause in Contracts

Failure to Pay Indebtedness. Any of the Indebtedness is not paid within the greater of: (i) ten (10) days after the same shall be due, whether by acceleration or otherwise, or (ii) if longer, any applicable grace period provided with respect to such Indebtedness;

Appears in 2 contracts

Sources: Subordinate Credit Agreement (Plains Capital Corp), Loan Agreement (Plains Capital Corp)

Failure to Pay Indebtedness. Any of the Indebtedness is not paid within the greater of: of (i) ten (10) days after the same shall be due, whether by acceleration or otherwise, or (ii) if longer, any applicable grace period provided with respect to such Indebtedness;

Appears in 1 contract

Sources: Loan Agreement (Plains Capital Corp)