Senior Debt NonPayment Default

Senior Debt NonPayment Default. Means any default or event of default (other than a Senior Debt Payment Default) under any agreement or instrument relating to Specified Senior Debt. For the purposes of the immediately preceding sentence, an "event of default" shall exist when as a result thereof the holders of the Specified Senior Debt are then permitted to cause such Specified Senior Debt to become due prior to its scheduled maturity.