Acceleration and Cash Collateralization. Upon the occurrence of an Event of Default which is continuing, the Agents may, but shall upon the request of the Majority Lenders, and by delivery of notice to the Funds Administrators from the Agents, take any or all of the following actions: (a) declare all Obligations to be immediately due and payable (except with respect to any Event of Default set forth in SECTION 9.1(e), in which case all Obligations shall automatically become immediately due and payable without the necessity of any notice or other demand) without presentment, demand, protest or any other action or obligation of either Agent or any Lender; and (b) immediately terminate the Commitments hereunder. In addition, upon demand by the Agent or the Majority Lenders upon the occurrence of any Event of Default and which is continuing, the Borrowers shall deposit with the Agent with cash or Cash Equivalents in an amount equal to 110% of the Letter of Credit Obligations. Such deposit shall be held by the Agent as security for, and to provide for the payment of, Letter of Credit Obligations. If at any time after acceleration of the maturity of the Obligations, the Borrowers shall pay all arrears of interest and all payments on account of principal of the Loans which shall have become due otherwise than by acceleration (with interest on principal and, to the extent permitted by law, on overdue interest, at the rates specified in SECTION 4.4) and all Events of Default and Defaults (other than nonpayment of principal of and accrued interest on the Loans and other Obligations due and payable solely by virtue of acceleration) shall be remedied or waived, then by written notice to the US Funds Administrator, the Majority Lenders may elect, in the sole discretion of such Majority Lenders, to rescind and annul the acceleration and its consequences and return any cash collateral; but such action shall not affect any subsequent Default or Event of Default or impair any right or remedy consequent thereon. The provisions of the preceding sentence are intended merely to bind the Lenders to a decision which may be made at the election of the Majority Lenders; they are not intended to benefit the Borrowers and do not give any Borrower the right to require the Lenders to rescind or annul any acceleration hereunder or to return any cash collateral, even if the conditions set forth herein are met.
Acceleration and Cash Collateralization. Upon the occurrence and during the continuance of an Event of Default, the Agent may take any or all of the following actions, without prejudice to the rights of the Agent or any Lender to enforce its claims against the Borrower:
Acceleration and Cash Collateralization. Upon the occurrence and during the continuance of an Event of Default, the Agent may take any or all of the following actions, without prejudice to the rights of the Agent or any Lender to enforce its claims against any Borrower:
Acceleration and Cash Collateralization. Upon the occurrence of an Event of Default and which is continuing, Lender may take any or all of the following actions, without prejudice to the rights of Lender to enforce its claims against any or all of the Credit Parties: (a) declare all Obligations to be immediately due and payable (except with respect to any Event of Default set forth in subsection 8.1(f), in which case all Obligations shall automatically become immediately due and payable without the necessity of any notice or other demand) without presentment, demand, protest or any other action or obligation of Lender; and (b) immediately terminate the Commitment hereunder.
Acceleration and Cash Collateralization. Upon the occurrence of an Event of Default and which is continuing, Agent shall, upon the request of the Majority Lenders, and by delivery of notice to Borrower from Agent, take any or all of the following actions, without prejudice to the rights of Agent, any Lender or the holder of any Note to enforce its claims against Borrower: (a) declare all Obligations to be immediately due and payable (except with respect to any Event of Default set forth in SECTION 9.1(e), in which case all Obligations shall automatically become immediately due and payable without the necessity of any notice or other demand) without presentment, demand, protest or any other action or obligation of Agent or any Lender; and (b) immediately terminate the Total Commitments hereunder. In addition, upon demand by Agent or the Majority Lenders upon the occurrence of any Event of Default and which is continuing, Borrower shall deposit with Agent with cash or Cash Equivalents in an amount equal to 110% of the Letter of Credit Outstandings (in each case to the extent the same are such by virtue of CLAUSE (a) of the definition thereof). Such deposit shall be held by Agent in an interest bearing cash collateral account (which may or may not be the Revolver Payments Cash Collateral Account) as security for, and to provide for the payment of, Letter of Credit Outstandings (the Agent to account to Borrower for any amounts remaining in such account after payment in full of all Letter of Credit Outstandings). If at any time after acceleration of the maturity of the Obligations, Borrower shall pay all arrears of interest and all payments on account of principal of the Loans which shall have become due otherwise than by acceleration (with interest on principal and, to the extent permitted by law, on overdue interest, at the rates specified in SECTION 4.4) and all Events of Default and Defaults (other than nonpayment of principal of and accrued interest on the Loans and other Obligations due and payable solely by virtue of acceleration) shall be remedied or waived, then by written notice to Borrower, the Majority Lenders may elect, in the sole discretion of such Majority Lenders, to rescind and annul the acceleration and its consequences and return any cash collateral; but such action shall not affect any subsequent Default or Event of Default or impair any right or remedy consequent thereon. The provisions of the preceding sentence are intended merely to bind the Lenders to a decision which may be m...
Acceleration and Cash Collateralization. Upon the occurrence and during the continuance of an Event of Default, the Lender may:
Acceleration and Cash Collateralization. (a) Upon the occurrence and during the continuance of an Event of Default which has not been waived by the Required Lenders, the Agent may, and if so instructed by the Required Lenders shall, by written notice to that effect to the Borrower, take any or all of the following actions (without prejudice to the rights of the Agent, any Lender or the holder of any Note to enforce its claims against the Borrower and without prejudice or to any other rights or remedies any of them may have): (i) declare all Obligations to be, and the same shall thereupon become, immediately due and payable (provided that upon the occurrence of an Event of Default specified in clause (g) of Section 7.1 all Obligations shall automatically become immediately due and payable and the Credit Facility shall automatically terminate without the necessity of any notice or other demand) without presentment, demand, protest or any other action by the Agent or any Lender; and/or (ii) immediately terminate the Credit Facility and the Commitments hereunder; and/or (iii) demand that the Borrower deposit in the LOC Cash Collateral Account, for the benefit of the Lenders and the Issuing Banks, cash in an amount equal to the aggregate amount of all Facility Letters of Credit then outstanding, and the Borrower shall thereupon be obligated to make such deposit.
Acceleration and Cash Collateralization. Upon the occurrence and during the continuance of an Event of Default, the Agent may or, upon the request of the Required Lenders, the Agent shall:
Acceleration and Cash Collateralization. Upon the occurrence of an Event of Default and which is continuing, Lender may take any or all of the following actions, without prejudice to the rights of Lender to enforce its claims against any or all of the Credit Parties: (a) declare all Obligations to be immediately due and payable (except with respect to any Event of Default set forth in subsection 8.1(f), in which case all Obligations shall automatically become immediately due and payable without the necessity of any notice or other demand) without presentment, demand, protest or any other action or obligation of Lender; and (b) immediately terminate the Commitment hereunder. In addition, upon demand by Lender upon the occurrence of any Event of Default and which is continuing, Borrowers shall deposit with Lender cash or Cash Equivalents in an amount equal to 110% of the Risk Participation Liability.
Acceleration and Cash Collateralization. Upon the occurrence and during the continuance of an Event of Default, the Lender may take any or all of the following actions, without prejudice to the rights of the Lender to enforce its claims against the Borrower:
