Common use of Other Events of Default Clause in Contracts

Other Events of Default. Each of the following events shall constitute an Event of Default hereunder: (a) final judgment or judgments for the payment of money in excess of $5,000,000 (or its equivalent in the currency in which such judgment is rendered) in the aggregate shall be rendered against any Obligor by one or more courts, administrative tribunals or other bodies having jurisdiction and the same shall not be satisfied, discharged (or provision shall not be made for such discharge) or bonded, or a stay of execution thereof shall not be procured, within thirty (30) days from the date of entry thereof, and such Obligor shall not, within said period of thirty (30) days, or such longer period during which execution of the same shall have been stayed or bonded, appeal there from and cause the execution thereof to be stayed during such appeal; (b) any Finance Document shall for whatever reason be terminated or cease to be in full force and effect, or the enforceability thereof shall be contested by any Obligor unless replacements are entered into by the Finance Parties prior to such events; (c) the Borrower shall grant, or suffer to exist, any security on any Collateral except the security contemplated hereby; or the security contemplated hereby shall cease to be first priority perfected security on the Collateral in favour of the Security Trustee or shall be security in favour of any person other than the Security Trustee; (d) the discovery by the Agent of a condition or event which existed at or prior to the execution hereof and which the Agent, in its sole discretion, determines materially and adversely effects: (i) the condition (financial or otherwise) of any Obligor; or (ii) the ability of either any Obligor or the Finance Parties to fulfil its respective obligations under the Finance Documents. (e) any materially adverse change in the Property, business, financial condition or prospects of any of the Obligors shall occur, as determined by the Agent in its sole discretion, or any other condition shall exist which, in the Agent's sole discretion, constitutes a material impairment of any Obligor's ability to perform its obligations under any of the Finance Documents.

Other Events of Default. Each If any of the following events shall constitute an Event of Default hereunderoccur and be continuing: (ai) final judgment Any Borrower shall fail to pay any principal of any Loan (other than a German Term Loan) made to it or judgments for Reimbursement Obligation owing by it when due in accordance with the terms thereof or hereof (it being understood that any conversion of a Reimbursement Obligation into a borrowing pursuant to subsection 5.5(c) or subsection 7.5(c) shall not constitute a failure to make a payment in satisfaction of money in excess of $5,000,000 such Reimbursement Obligation) or any Borrower shall fail to pay any interest on any Loan (other than the German Term Loan) made to it or its equivalent in the currency in which any other amount payable hereunder (including, without limitation, any amounts payable on any L/C Fee Payment Date), within five days after any such judgment is rendered) in the aggregate shall be rendered against any Obligor by one or more courts, administrative tribunals interest or other bodies having jurisdiction and amount becomes due in accordance with the same shall not be satisfied, discharged (terms thereof or provision shall not be made for such discharge) or bonded, or a stay of execution thereof shall not be procured, within thirty (30) days from the date of entry thereof, and such Obligor shall not, within said period of thirty (30) days, or such longer period during which execution of the same shall have been stayed or bonded, appeal there from and cause the execution thereof to be stayed during such appeal;hereof; or (b) Any representation or warranty made or deemed made by the Primary Borrower or any Finance other Credit Party herein or in any other Credit Document or which is contained in any certificate furnished by it at any time under or pursuant to this Agreement or any such other Credit Document shall prove to have been incorrect in any material respect on or as of the date made or deemed made; or (c) Any Borrower or any other Credit Party shall default in the observance or performance of any agreement contained in Section 13 or 14; or (d) Any Borrower or any other Credit Party shall default in the observance or performance of any other agreement contained in this Agreement or any other Credit Document (other than as provided in paragraphs (a) through (c) of this subsection 15.2), and such default shall continue unremedied for whatever reason a period ending on the earlier of (i) the date 30 days after a Responsible Officer of the Primary Borrower shall have discovered or should have discovered such default and (ii) the date 15 days after written notice has been given to the Primary Borrower by the Administrative Agent; or (e) Any Borrower or any of its Subsidiaries shall (i) default in any payment of principal of or interest of any Indebtedness (other than the Loans and the Reimbursement Obligations) or in the payment of any Guarantee Obligation, beyond the period of grace, if any, provided in the instrument or agreement under which such Indebtedness or Guarantee Obligation was created; or (ii) default in the observance or performance of any other agreement or condition relating to any such Indebtedness or Guarantee Obligation or contained in any instrument or agreement evidencing, securing or relating thereto, or any other event shall occur or condition exist, the effect of which default or other event or condition is to cause, or to permit the holder or holders of such Indebtedness or beneficiary or beneficiaries of such Guarantee Obligation (or a trustee or Administrative Agent on behalf of such holder or holders or beneficiary or beneficiaries) to cause, with the giving of notice or lapse of time if required, such Indebtedness to become due prior to its stated maturity or such Guarantee Obligation to become payable (an "Acceleration"), and such time shall have lapsed and, if any notice shall be terminated required to commence a grace period or cease declare the occurrence of an event of default before notice of Acceleration may be delivered, such notice shall have been given; provided, however, that no Default or Event of Default shall exist under this paragraph unless the amount of any such Indebtedness or Guarantee Obligation in respect of which any default or other event or condition referred to in this paragraph shall have occurred shall be equal to at least $15,000,000; or (i) Any Person shall engage in any "prohibited transaction" (as defined in Section 406 of ERISA or Section 4975 of the Code) involving any Plan, (ii) any "accumulated funding deficiency" (as defined in Section 302 of ERISA), whether or not waived, shall exist with respect to any Plan or any Lien in favor of the PBGC or a Plan shall arise on the assets of the Primary Borrower or any Commonly Controlled Entity, (iii) a Reportable Event shall occur with respect to, or proceedings shall commence to have a trustee appointed, or a trustee shall be appointed, to administer or to terminate, any Single Employer Plan, which Reportable Event or commencement of proceedings or appointment of a trustee is reasonably likely to result in the termination of such Plan for purposes of Title IV of ERISA (other than a standard termination pursuant to Section 4041(b) of ERISA), (iv) any Single Employer Plan shall terminate for purposes of Title IV of ERISA, (v) the Primary Borrower or any Commonly Controlled Entity shall, or is reasonably likely to, incur any liability in connection with a withdrawal from, or the Insolvency or Reorganization of, a Multiemployer Plan, (vi) the occurrence or expected occurrence of any event or condition which results or is reasonably likely to result in the Primary Borrower's or any Commonly Controlled Entity's becoming responsible for any liability in respect of a Former Plan, or (vii) any other event or condition shall occur or exist with respect to a Plan; and in each case in clauses (i) through (vii) above, such event or condition, together with all other such events or conditions, if any, would be reasonably expected to result in liability which would have a Material Adverse Effect; or (g) One or more judgments or decrees shall be entered against the Primary Borrower or any of its Active Subsidiaries involving in the aggregate a liability (net of any insurance or indemnity payments actually received in respect thereof prior to or within 60 days from the entry thereof, or to be received in respect thereof, in the event any appeal thereof shall be unsuccessful) of $15,000,000 or more, and all such judgments or decrees shall not have been vacated, discharged, stayed or bonded pending appeal within 60 days from the entry thereof; or (i) Any of the Security Documents (or any guarantee thereunder by any Credit Party of the monetary obligations of the Borrowers hereunder) shall cease, for any reason, to be in full force and effecteffect other than pursuant to the terms hereof and thereof, or any Borrower or any other Credit Party which is a party to any of the enforceability thereof Security Documents shall be contested so assert in writing or (ii) the Lien created by any Obligor unless replacements are entered into by of the Finance Parties prior to such events; (c) the Borrower shall grant, or suffer to exist, any security on any Collateral except the security contemplated hereby; or the security contemplated hereby Security Documents shall cease to be first enforceable and of the same effect as to perfection and priority perfected security on purported to be created thereby with respect to any significant portion of the Collateral (other than in favour connection with any termination of such Lien in respect of any Collateral as permitted hereby or by any Security Document), and such failure of such Lien to be perfected and enforceable with such priority shall have continued unremedied for a period of 20 days; or (i) The Senior Subordinated Notes, for any reason, shall not be or shall cease to be validly subordinated as provided therein and in the Senior Subordinated Note Indenture to the obligations of the Security Trustee or shall be security in favour of Primary Borrower under this Agreement, any person Notes and the other than the Security Trustee;Credit Documents; or (dj) a Change of Control shall have occurred or the discovery by Guarantor shall cease to own directly or indirectly 100% of the Agent issued and outstanding common stock (or equivalent equity interests) of a condition the Primary Borrower or event which existed at or (if prior to the execution hereof German Term Loan Repayment Date) either German Borrower; then, and which in any such event, either or both of the Agent, in its sole discretion, determines materially and adversely effects: following actions may be taken: (i) with the condition (financial consent of the Majority Lenders, the Administrative Agent may, or otherwise) upon the request of any Obligorthe Majority Lenders, the Administrative Agent shall, by notice to the Borrowers declare the Commitments to be terminated forthwith, whereupon the Commitments shall immediately terminate; or and (ii) with the ability of either any Obligor or the Finance Parties to fulfil its respective obligations under the Finance Documents. (e) any materially adverse change in the Property, business, financial condition or prospects of any consent of the Obligors shall occurMajority Lenders, as determined by the Administrative Agent in its sole discretionmay, or any other condition shall exist which, in upon the Agent's sole discretion, constitutes a material impairment of any Obligor's ability to perform its obligations under any request of the Finance DocumentsMajority Lenders, the Administrative Agent shall, by notice to the Borrowers, declare the Loans hereunder (with accrued interest thereon) and all other amounts owing on account thereof under this Agreement (including, without limitation, all amounts of Domestic L/C Obligations, whether or not the beneficiaries of the then outstanding Domestic L/Cs shall have presented the documents required thereunder) to be due and payable forthwith, whereupon the same shall immediately become due and payable.

Other Events of Default. Each If any of the following events shall constitute an Event of Default hereunderoccur and be continuing: (a) final judgment The Borrower shall fail to pay any principal of any Loan when due in accordance with the terms thereof, or judgments for the payment of money in excess of $5,000,000 (Borrower shall fail to pay any interest on any Loan or its equivalent in the currency in which any other amount payable hereunder within five days after any such judgment is rendered) in the aggregate shall be rendered against any Obligor by one or more courts, administrative tribunals interest or other bodies having jurisdiction and amount becomes due in accordance with the same shall not be satisfied, discharged (or provision shall not be made for such discharge) or bonded, or a stay of execution thereof shall not be procured, within thirty (30) days from the date of entry terms thereof, and such Obligor shall not, within said period of thirty (30) days, or such longer period during which execution of the same shall have been stayed or bonded, appeal there from and cause the execution thereof to be stayed during such appeal;; or (b) Any representation or warranty made or deemed made by the Borrower herein or in any Finance other Credit Document or which is contained in any certificate furnished by it at any time under or pursuant to this Agreement or any such other Credit Document shall for whatever reason be terminated prove to have been incorrect in any material respect on or cease to be in full force and effect, as of the date made or the enforceability thereof shall be contested by any Obligor unless replacements are entered into by the Finance Parties prior to such events;deemed made; or (c) The Borrower shall default in the observance or performance of any other agreement contained in this Agreement (other than as provided in paragraphs (a) and (b) of this subsection 15.2), and such default shall continue unremedied for a period ending on the earlier of (i) the date 30 days after a Responsible Officer of the Borrower shall grant, have discovered or suffer should have discovered such default and (ii) the date 15 days after written notice has been given to exist, any security on any Collateral except the security contemplated herebyBorrower by the Administrative Agent; or the security contemplated hereby shall cease to be first priority perfected security on the Collateral in favour of the Security Trustee or shall be security in favour of any person other than the Security Trustee;or (d) Any Credit Agreement Event of Default (other than those specified in subsection 15.1) shall occur; then, and in any such event, either or both of the discovery by the Agent of a condition or event which existed at or prior to the execution hereof and which the Agent, in its sole discretion, determines materially and adversely effects: following actions may be taken: (i) with the condition (financial consent of the Lenders, the Administrative Agent may, or otherwise) upon the request of any Obligorthe Lenders, the Administrative Agent shall, by notice to the Borrower declare the Commitments to be terminated forthwith, whereupon the Commitments shall immediately terminate; or and (ii) with the ability of either any Obligor or the Finance Parties to fulfil its respective obligations under the Finance Documents. (e) any materially adverse change in the Property, business, financial condition or prospects of any consent of the Obligors shall occurLenders, as determined by the Administrative Agent in its sole discretionmay, or any other condition shall exist which, in upon the Agent's sole discretion, constitutes a material impairment of any Obligor's ability to perform its obligations under any request of the Finance DocumentsLenders, the Administrative Agent shall, by notice to the Borrower, declare the Loans hereunder (with accrued interest thereon) and all other amounts owing on account thereof under this Agreement to be due and payable forthwith, whereupon the same shall immediately become due and payable.

Other Events of Default. Each of the following events shall constitute an Event of Default hereunder: (a) final judgment an announcement by the Company of a decision to abandon or judgments for indefinitely defer the payment of money in excess of $5,000,000 (construction or its equivalent in the currency in which such judgment is rendered) in the aggregate shall be rendered against any Obligor by one or more courts, administrative tribunals or other bodies having jurisdiction and the same shall not be satisfied, discharged (or provision shall not be made for such discharge) or bonded, or a stay of execution thereof shall not be procured, within thirty (30) days from the date of entry thereof, and such Obligor shall not, within said period of thirty (30) days, or such longer period during which execution completion of the same shall have been stayed Project or bonded, appeal there from and cause the execution thereof to be stayed during such appeal;abandonment or indefinite deferral of the construction or operation of the Project; or (b) any Finance Document shall for whatever reason be terminated or cease to be in full force and effect, or a material portion of the enforceability thereof Project shall be contested permanently condemned or seized or title thereto shall be permanently requisitioned or taken by any Obligor unless replacements are entered into Government Authority under power of eminent domain or otherwise; or a material portion of the Project shall be temporarily condemned or seized or title thereto shall be temporarily requisitioned or taken by the Finance Parties prior any Government Authority under power of eminent domain or otherwise and such temporary condemnation, seizure, requisition or taking shall last for at least 90 days and could reasonably be expected to such events;result in a Material Adverse Effect; or (c) any Event of Loss (other than under Section 9.04(b)) shall have occurred with respect to a material portion of the Borrower shall grant, or suffer to exist, any security on any Collateral except the security contemplated hereby; Iridium satellite constellation or the security contemplated hereby shall cease Project and such Event of Loss could reasonably be expected to be first priority perfected security on result in a Material Adverse Effect; then, and in every such event under Sections 9.01, 9.02, 9.03 and 9.04 (other than an event with respect to any Credit Party or Iridium LLC described in clause (i) or (j) of Section 9.01, and at any time thereafter during the Collateral in favour continuance of such event, the Administrative Agent may, and at the request of the Security Trustee or shall be security in favour of any person other than the Security Trustee; (d) the discovery Required Lenders shall, by the Agent of a condition or event which existed at or prior notice to the execution hereof and which Company, take either or both of the Agentfollowing actions, in its sole discretion, determines materially and adversely effectsat the same or different times: (i) terminate the condition (financial or otherwise) of any Obligor; or Commitments, and thereupon the Commitments shall terminate immediately, and (ii) declare the ability Loans then outstanding to be due and payable in whole (or in part, in which case any principal not so declared to be due and payable may thereafter be declared to be due and payable), and thereupon the principal of either any Obligor or the Finance Loans so declared to be due and payable, together with accrued interest thereon and all fees and other obligations of the Credit Parties to fulfil its respective obligations accrued hereunder and under the Finance other Credit Documents. (e) any materially adverse change in the Property, businessshall become due and payable immediately, financial condition without presentment, demand, protest or prospects other notice of any kind, all of which are hereby waived by each Credit Party; and in case of any event with respect to any Credit Party or Iridium LLC described in such clause (i) or (j), the Commitments shall automatically terminate and the principal of the Obligors Loans then outstanding, together with accrued interest thereon and all fees and other obligations of the Credit Parties accrued hereunder, shall occurautomatically become due and payable, as determined by the Agent in its sole discretionwithout presentment, demand, protest or any other condition shall exist which, in the Agent's sole discretion, constitutes a material impairment notice of any Obligor's ability to perform its obligations under any kind, all of the Finance Documentswhich are hereby waived by each Credit Party.

Other Events of Default. Each of the following events shall constitute an Event of Default hereunder: (a) final judgment or judgments for the payment of money in excess of $5,000,000 (or its equivalent in the currency in which such judgment is rendered) in the aggregate shall be rendered against any Anthracite Obligor by one or more courts, administrative tribunals or other bodies having jurisdiction and the same shall not be satisfied, discharged (or provision shall not be made for such discharge) or bonded, or a stay of execution thereof shall not be procured, within thirty (30) 30 days from the date of entry thereof, and such Anthracite Obligor shall not, within said period of thirty (30) 30 days, or such longer period during which execution of the same shall have been stayed or bonded, appeal there from and cause the execution thereof to be stayed during such appeal; (b) any Finance Transaction Document shall for whatever reason be terminated or cease to be in full force and effect, or the enforceability thereof shall be contested by any Anthracite Obligor unless replacements are entered into by the Finance Parties relevant Anthracite Senior Creditors prior to such events; (c) the Borrower any Anthracite Obligor shall grant, or suffer to exist, any security Encumbrance on any Anthracite Asset except, in the case of the Borrower, Encumbrances granted to the Security Trustee, in the case of the BoA Borrowers, Encumbrances granted to the BoA Finance Parties, in the case of the DB Borrowers, Encumbrances granted in favour of the DB Finance Parties, for all other Anthracite Obligors, Encumbrances granted in favour of the Collateral except Agent and for all Anthracite Obligors pursuant to the security Anthracite Second Ranking Security Documents; (d) the Encumbrances contemplated hereby; or under the security contemplated hereby First Ranking Security Documents shall cease to be first priority perfected security on the Collateral Assets in favour of the Security Trustee or shall be security in favour of any person other than the Security Trustee; (de) the Encumbrances contemplated under the Common First Ranking Security Documents shall cease to be first priority perfected security on the relevant SPV Assets or the SPV Shares in favour of the Collateral Agent or shall be security in favour of any person other than the Collateral Agent; (f) the Encumbrances contemplated under the Anthracite Second Ranking Security Documents shall cease to be second priority perfected security on the relevant Anthracite Assets in favour of the Collateral Agent or shall be security in favour of any person other than the Collateral Agent; (g) the discovery by the Agent of a condition or event which existed at or prior to the execution hereof date of the Fourth Amendment Deed and which the Agent, in its sole discretion, determines materially and adversely effects: (i) the condition (financial or otherwise) of any Anthracite Obligor; or (ii) the ability of either any Anthracite Obligor or the Finance Parties to fulfil its respective obligations under the Finance Transaction Documents. (eh) any materially adverse change in the Property, business, financial condition or prospects of any of the Obligors any Anthracite Obligor shall occur, as determined by the Agent in its sole discretion, or any other condition shall exist which, in the Agent's ’s sole discretion, constitutes a material impairment of any Anthracite Obligor's ’s ability to perform its obligations under any of the Finance Transaction Documents.