Default and Acceleration of Maturity
Each of the following are events of default under any series of debt securities:
(a) Non Payment.
Argentina fails for 30 days after the applicable payment date to make any
payment of principal or interest on that series of debt securities;
(b) Breach of Other Obligations.
Argentina fails to perform or comply with any other obligation
under the debt securities or under the indenture and Argentina does not or cannot cure that
failure within 90 days after it receives written notice from the trustee regarding that default;
(c) Cross Default.
Any event or condition occurs that results in the acceleration of the maturity
(other than by optional or mandatory prepayment or redemption) of any of Argentina's
Performing Public External Indebtedness having an aggregate principal amount of
U.S.$30,000,000 or more, or Argentina fails to make any payment of principal, premium,
204prepayment charge or interest when due on any of its Performing Public External Indebtedness
having an aggregate principal amount of U.S.$30,000,000 or more and that failure continues past
the applicable grace period, if any;
Argentina declares a moratorium on the payment of principal of or interest on its
Performing Public External Indebtedness; or
Argentina contests the validity of that series of debt securities