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GIS » Topics » Cross-Default

This excerpt taken from the GIS 8-K filed Oct 15, 2007.
Cross-Default.  The Company or any Material Subsidiary shall (i) fail to pay when due, subject to the applicable grace period, if any, whether at stated maturity or otherwise, (A) any principal of, interest on, or premiums, fees or expenses or any other amounts relating to, any Indebtedness or (B) the deferred purchase price of any Property or asset (other than trade payables entered into in the Ordinary Course of Business pursuant to customary terms) or (C) any Contingent Obligation, or (ii) fail to observe or perform, subject to the applicable grace period, if any, any other term, covenant, condition or agreement contained in any instrument or agreement evidencing, securing or relating to any Indebtedness or Contingent Obligation, if the effect thereof is to cause, or permit the holder or holders of any such Indebtedness or obligation, or a trustee or agent on behalf of such holder or holders (collectively, the “holder”), to cause, such Indebtedness or obligation to become due prior to its stated maturity; provided, however, that no Event of Default shall exist hereunder if (x) in the case of clause (ii), such failure or default has been waived by the holder thereof; (y) in the case of sub-clause (i)(B) or (i)(C), such failure is being contested in good faith by appropriate proceedings; or (z) the aggregate of all obligations which become (or, at the option of the holder thereof, may thereupon become) due and payable prior to their stated maturity as a result of any such failure or default, does not exceed $50,000,000; or

(f)   

This excerpt taken from the GIS 8-K filed Aug 7, 2007.
Cross-Default. The Company or any Material Subsidiary shall (i) fail to pay when due, subject to the applicable grace period, if any, whether at stated maturity or otherwise, (A) any principal of, interest on, or premiums, fees or expenses or any other amounts relating to, any Indebtedness or (B) the deferred purchase price of any Property or asset (other than trade payables entered into in the Ordinary Course of Business pursuant to customary terms) or (C) any Contingent Obligation, or (ii) fail to observe or perform, subject to the applicable grace period, if any, any other term, covenant, condition or agreement contained in any instrument or agreement evidencing, securing or relating to any Indebtedness or Contingent Obligation, if the effect thereof is to cause, or permit the holder or holders of any such Indebtedness or obligation, or a trustee or agent on behalf of such holder or holders (collectively, the “holder”), to cause, such Indebtedness or obligation to become due prior to its stated maturity; provided, however, that no Event of Default shall exist hereunder if (x) in the case of clause (ii), such failure or default has been waived by the holder thereof; (y) in the case of sub-clause (i)(B) or (i)(C), such failure is being contested in good faith by appropriate proceedings; or (z) the aggregate of all obligations which become (or, at the option of the holder thereof, may thereupon become) due and payable prior to their stated maturity as a result of any such failure or default, does not exceed $50,000,000; or

(f)    

This excerpt taken from the GIS 8-K filed Oct 17, 2006.
Cross-Default. The Company or any Material Subsidiary shall (i) fail to pay when due, subject to the applicable grace period, if any, whether at stated maturity or otherwise, (A) any principal of, interest on, or premiums, fees or expenses or any other amounts relating to, any Indebtedness or (B) the deferred purchase price of any Property or asset (other than trade payables entered into in the Ordinary Course of Business pursuant to customary terms) or (C) any Contingent Obligation, or (ii) fail to observe or perform, subject to the applicable grace period, if any, any other term, covenant, condition or agreement contained in any instrument or agreement evidencing, securing or relating to any Indebtedness or Contingent Obligation, if the effect thereof is to cause, or permit the holder or holders of any such Indebtedness or obligation, or a trustee or agent on behalf of such holder or holders (collectively, the “holder”), to cause, such Indebtedness or obligation to become due prior to its stated maturity; provided, however, that no Event of Default shall exist hereunder if (x) in the case of clause (ii), such failure or default has been waived by the holder thereof; (y) in the case of sub-clause (i)(B) or (i)(C), such failure is being contested in good faith by appropriate proceedings; or (z) the aggregate of all obligations which become (or, at the option of the holder thereof, may thereupon become) due and payable prior to their stated maturity as a result of any such failure or default, does not exceed $50,000,000; or

(f)    

EXCERPTS ON THIS PAGE:

8-K
Oct 15, 2007
8-K
Aug 7, 2007
8-K
Oct 17, 2006

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