Debt Capital Markets · glossary
Holders may act under Condition 9.1(c) if a lender to Valkenrade or a Material Subsidiary makes its debt due early because of a default. The same applies to other debt left unpaid after its grace period. Either way, the debt must total €25 million or more. Condition 9.1 · Chapter 5 · see Events of default
Explained in Chapter 5, Negative Pledge and Events of Default, of Debt Capital Markets.
Paragraph (c) is a cross-acceleration clause. If a lender to Valkenrade or a Material Subsidiary demands early repayment because of a default, holders may act too. The same applies if other debt is left unpaid after its grace period. Either way, the debt concerned must be €25 million or more.Read Chapter 5, Negative Pledge and Events of Default →
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