Material Default

Material Default. A default or event of default of any Indebtedness, which either alone or together with any other defaults and/or events of default, as applicable, then outstanding (with or without the passage of time or the giving of notice) results or could reasonably be expected to result in the holder or holders of such Indebtedness, as applicable, having the right to accelerate or redeem all, or any part, of such Indebtedness