Common use of Acceleration, Etc Clause in Contracts

Acceleration, Etc. If any Default described in ‎Section 7.05 or ‎7.06 occurs, the obligations of the Lenders to make Loans and the obligations of the Issuing Lenders to issue Letters of Credit hereunder shall automatically terminate and the Obligations of the Borrower shall immediately become due and payable, and the obligation of the Borrower to Cash Collateralize the L/C Obligations as required in clause (ii) below shall automatically become effective, in each case without any election or action on the part of the Administrative Agent or any Lender or Issuing Lender. If any other Default occurs, the Required Lenders (or the Administrative Agent with the consent of the Required Lenders) may (i)(i) terminate or suspend (in whole or in part) the obligations of the Lenders to make Loans and the Issuing Lenders to issue Letters of Credit hereunder and declare the Obligations of the Borrower to be due and payable (in whole or in part), whereupon such Obligations shall become immediately due and payable, without presentment, demand, protest or notice of any kind, all of which the Borrower hereby expressly waives and (ii) require that the Borrower Cash Collateralize the L/C Obligations in an amount equal to 100% of the outstanding L/C Obligations. Promptly upon any acceleration of the Obligations, the Administrative Agent will provide the Borrower with notice of such acceleration. If, within thirty (30) days after acceleration of the maturity of the Obligations of the Borrower or termination of the obligations of the Lenders to make Loans and the obligations of the Issuing Lenders to issue Letters of Credit hereunder as a result of any Default (other than any Default as described in ‎Section 7.05 or ‎7.06) and before any judgment or decree for the payment of the Obligations due shall have been obtained or entered, the Required Lenders (in their sole discretion) shall so direct, the Administrative Agent shall, by notice to the Borrower, rescind and annul such acceleration and/or termination.

Acceleration, Etc. If any Default described in ‎Section Section 7.05 or ‎7.06 7.06 occurs, the obligations of the Lenders to make Loans and the obligations of the Issuing Lenders to issue Letters of Credit hereunder shall automatically terminate and the Obligations of the Borrower Borrowers shall immediately become due and payable, and the obligation of the Borrower Company to Cash Collateralize the L/C Obligations as required in clause (ii) below shall automatically become effective, in each case without any election or action on the part of the Administrative Agent or any Lender or Issuing Lender. If any other Default occurs, the Required Lenders (or the Administrative Agent with the consent of the Required Lenders) may (i)(ii) terminate or suspend (in whole or in part) the obligations of the Lenders to make Loans and the Issuing Lenders to issue Letters of Credit hereunder and declare the Obligations of the Borrower Borrowers to be due and payable (in whole or in part), whereupon such Obligations shall become immediately due and payable, without presentment, demand, protest or notice of any kind, all of which the each Borrower hereby expressly waives and (ii) require that the Borrower Company Cash Collateralize the L/C Obligations in an amount equal to 100% of the outstanding L/C Obligations. Promptly upon any acceleration of the Obligations, the Administrative Agent will provide the Borrower Company with notice of such acceleration. If, within thirty (30) days after acceleration of the maturity of the Obligations of the Borrower Borrowers or termination of the obligations of the Lenders to make Loans and the obligations of the Issuing Lenders to issue Letters of Credit hereunder as a result of any Default (other than any Default as described in ‎Section Section 7.05 or ‎7.067.06) and before any judgment or decree for the payment of the Obligations due shall have been obtained or entered, the Required Lenders (in their sole discretion) shall so direct, the Administrative Agent shall, by notice to the BorrowerCompany, rescind and annul such acceleration and/or termination.

Acceleration, Etc. If any (a) Upon the occurrence of an Event of Default described in ‎Section 7.05 or ‎7.06 occurswhich is continuing the Agent shall, upon the obligations instructions of the Lenders Required Lenders, issue a written notice to make Loans and the obligations Borrower (a "Acceleration Notice") declaring all of the Issuing Lenders Obligations to issue Letters be immediately due and payable. (b) Upon receipt of Credit hereunder shall automatically terminate and the Obligations of an Acceleration Notice the Borrower shall immediately become due pay and payablesatisfy the Obligations, and including payment to the obligation Agent of the Borrower to Cash Collateralize following amounts (without duplication): (i) the L/C Obligations as required in clause Outstanding Advances and all accrued and unpaid interest, fees and other amounts relating thereto; (ii) below shall automatically become effective, in each case without any election or action on the part net aggregate amount of the Administrative Agent Borrower's liability under all Hedge Transactions outstanding on such date in the event of a default or any Lender or Issuing Lender. If any other Default occurstermination thereunder, the Required Lenders (or the Administrative Agent determined in accordance with the consent of the Required Lenders) may terms thereof (i)(i) terminate or suspend (in whole or in part) the obligations of the Lenders and for greater certainty, determined after netting any amounts payable to make Loans and the Issuing Lenders to issue Letters of Credit hereunder and declare the Obligations of the Borrower to be due and thereunder against amounts payable (in whole or in part), whereupon such Obligations shall become immediately due and payable, without presentment, demand, protest or notice of any kind, all of which by the Borrower hereby expressly waives thereunder); and (iiiii) require that the Borrower Cash Collateralize the L/C Obligations in an amount equal to 100% the face amount of the outstanding L/C Obligations. Promptly upon any acceleration of the Obligationsall Bankers' Acceptances, the Administrative Agent will provide the Borrower with notice of such acceleration. If, within thirty (30) days after acceleration of the maturity of the Obligations of the Borrower or termination of the obligations of the Lenders to make BA Equivalent Loans and the obligations of the Issuing Lenders to issue Letters of Credit hereunder then outstanding. The Agent shall hold all such amounts paid by the Borrower in respect of such Hedge Transactions, Bankers’ Acceptances, BA Equivalent Loans and Letters of Credit as a result of any Default (other than any Default as described in ‎Section 7.05 or ‎7.06) and before any judgment or decree security for the payment Borrower's obligations thereunder. (c) At any time on or after the Acceleration Date the Agent may exercise any and all rights and remedies hereunder and under any other Loan Documents, including the enforcement of all or any portion of the Obligations due Security. (d) From and after the date of the occurrence of an Event of Default and for so long as such Event of Default continues, both before and after the issuance of an Acceleration Notice, all Outstanding Advances shall have been obtained bear interest or entered, fees at the Required rates otherwise applicable plus two percent (2%) per annum in order to compensate the Lenders (in their sole discretion) shall so direct, for the Administrative Agent shall, by notice to the Borrower, rescind and annul such acceleration and/or terminationadditional risk.

Acceleration, Etc. 15.2.1 If any a Default described in ‎Section 7.05 or ‎7.06 occurs, occurs and remains unremedied the obligations of the Lenders to make Loans and the obligations of the Issuing Lenders to issue Letters of Credit hereunder shall automatically terminate and the Obligations of the Borrower shall immediately become due and payableFacility Agent may, and shall if so instructed by the obligation of Majority Banks, by notice (a "DEFAULT NOTICE") to the Borrower -79- Parent Guarantor cancel the Facilities and require the Borrowers immediately to Cash Collateralize the L/C Obligations as required in clause (ii) below shall automatically become effective, in repay each case without any election or action on the part of the Administrative Agent or any Lender or Issuing Lender. If any Loan together with accrued interest and all other Default occurs, the Required Lenders (or the Administrative Agent with the consent of the Required Lenders) may (i)(i) terminate or suspend (in whole or in part) the obligations of the Lenders to make Loans and the Issuing Lenders to issue Letters of Credit hereunder and declare the Obligations of the Borrower to be due and sums payable (in whole or in part)under this Agreement, whereupon such Obligations they shall become immediately due and payable, without presentment, demand, protest or notice . Upon the service of any kindDefault Notice the Banks' obligations to each Borrower under this Agreement shall be terminated and the Commitment of each Bank shall be cancelled. 15.2.2 Immediately upon the Facility Agent serving a Default Notice, all each Borrower shall in respect of which each Guarantee issued on its behalf: (a) use its reasonable endeavours to procure the Borrower hereby expressly waives and release of the Issuing Bank or, as the case may be, the Overdraft Bank, from the Guarantee; and (iib) require that without prejudice to sub-clause 15.2.2(a), pay to the Borrower Cash Collateralize credit of such account as the L/C Obligations in Issuing Bank or, as the case may be, the Overdraft Bank, shall stipulate an amount equal to 100% the Guaranteed Amount of the outstanding L/C Obligations. Promptly upon any acceleration of the Obligations, the Administrative Agent will provide the Borrower with notice of that Guarantee and charge such acceleration. If, within thirty (30) days after acceleration of the maturity of the Obligations of the Borrower or termination of the obligations of the Lenders to make Loans and the obligations account in favour of the Issuing Lenders Bank or, as the case may be, the Overdraft Bank, in such manner and on such terms as the Issuing Bank or, as the case may be, the Overdraft Bank, may stipulate. 15.2.3 Immediately upon the Facility Agent serving a Default Notice, each outstanding FFE Contract shall be automatically terminated and closed out. Upon such termination and close-out, the Overdraft Bank shall determine in good faith the applicable closing gain or loss payable by or to issue Letters it for the outstanding FFE Contracts, calculated by reference to the netting of Credit hereunder as the respective amounts in each currency which the Overdraft Bank is contracted to deliver and receive under all such FFE Contracts. Any amount payable to the Overdraft Bank or to any Borrower in respect of the FFE Contracts pursuant to this sub-clause 15.2.3 shall, subject to all rights of set-off, be immediately due and payable. 15.2.4 Immediately upon the Facility Agent serving a result Default Notice, the Overdraft Bank shall: (a) make demand on each overdraft made available under the Optional Overdraft Facility; and (b) terminate all other facilities or financial accommodation made available by it under the Optional Overdraft Facility (and which are not referred to in sub-clauses 15.2.2 and 15.2.3), whereupon any moneys owing to the Overdraft Bank shall be immediately due and payable and the Overdraft Bank may apply any credit balance on any account of any Charging Group Company with the Overdraft Bank against any liability owed to the Overdraft Bank by that Charging Group Company (to the extent that any such credit balance is freely available to be set off in this manner). 15.2.5 If the Overdraft Bank makes a demand under any overdraft provided under the Optional Overdraft Facility, that demand shall not be a Default (other than any Default as described in ‎Section 7.05 or ‎7.06) and before any judgment or decree for the payment purposes of sub-clause 15.1.1 and the Security Trustee shall not take any steps to enforce the Security Documents in respect of that demand if (a) that demand is satisfied in full within 15 Business Days of the Obligations due shall have been obtained or entereddate of that demand and (b) no other Default has occurred and is continuing during that period. For the avoidance of doubt, if any other Default has occurred, the Required Lenders (Agents and the Banks may exercise all their rights under this Clause 15 and the Security Trustee may enforce the Security Documents, including in their sole discretion) shall respect of the amount so direct, demanded by the Administrative Agent shall, by notice to the Borrower, rescind and annul such acceleration and/or terminationOverdraft Bank.

Acceleration, Etc. If (a) The Agent shall, upon the instructions of RBC, issue a written notice to the Borrower declaring the Obligations under Facility A to be immediately due and payable. For greater certainty, as Facility A is a demand facility RBC may instruct the Agent to issue a demand for payment under Facility A regardless of whether an Event of Default has occurred and is continuing. Notwithstanding the issuance of any Default described in ‎Section 7.05 or ‎7.06 occurssuch demand for payment under Facility A, the obligations any enforcement of the Lenders to make Loans and Security shall require the obligations approval of the Issuing Required Lenders as hereinafter provided. (b) Upon the occurrence of an Event of Default which is continuing the Agent shall, upon the instructions of the Required Lenders, issue a written notice to issue Letters the Borrower (a "Acceleration Notice") declaring all of Credit hereunder shall automatically terminate and the Obligations to be immediately due and payable. (c) Upon receipt of an Acceleration Notice the Borrower shall immediately become due pay and payablesatisfy the Obligations, and including payment to the obligation Agent of the Borrower to Cash Collateralize following amounts (without duplication): (i) the L/C Obligations as required in clause Outstanding Advances and all accrued and unpaid interest, fees and other amounts relating thereto; (ii) below shall automatically become effective, in each case without any election or action on the part greater of the Administrative Agent or any Lender or Issuing Lender. If any other Default occurs, the Required Lenders (or the Administrative Agent with the consent of the Required Lenders) may (i)(i) terminate or suspend (in whole or in part) the obligations of the Lenders to make Loans Aggregate Actual Hedge Liability and the Issuing Lenders to issue Letters aggregate Deemed Hedge Risk in respect of Credit hereunder and declare the Obligations of the Borrower to be due and payable all Hedge Transactions then outstanding; (in whole or in part), whereupon such Obligations shall become immediately due and payable, without presentment, demand, protest or notice of any kind, all of which the Borrower hereby expressly waives and (iiiii) require that the Borrower Cash Collateralize the L/C Obligations in an amount equal to 100% the face amount of all Bankers' Acceptances and BA Equivalent Loans then outstanding; and (iv) the maximum amount payable under all outstanding L/C ObligationsLetters of Credit. Promptly upon any acceleration of the Obligations, the Administrative The Agent will provide shall hold all such amounts paid by the Borrower with notice in respect of such acceleration. IfHedge Transactions, within thirty (30) days after acceleration of the maturity of the Obligations of the Borrower or termination of the obligations of the Lenders to make Bankers' Acceptances, BA Equivalent Loans and the obligations of the Issuing Lenders to issue Letters of Credit hereunder as a result of any Default (other than any Default as described in ‎Section 7.05 or ‎7.06) and before any judgment or decree security for the payment Borrower's obligations thereunder. (d) At any time on or after the Acceleration Date the Agent may exercise any and all rights and remedies hereunder and under any other Loan Documents, including the enforcement of all or any portion of the Obligations due Security. (e) From and after the date of the occurrence of an Event of Default and for so long as such Event of Default continues, both before and after the issuance of an Acceleration Notice, all Outstanding Advances shall have been obtained bear interest or entered, fees at the Required rates otherwise applicable plus two percent (2%) per annum in order to compensate the Lenders (in their sole discretion) shall so direct, for the Administrative Agent shall, by notice to the Borrower, rescind and annul such acceleration and/or terminationadditional risk.

Acceleration, Etc. If Upon the occurrence of any Event of Default, and at any time thereafter, if any Event of Default described in ‎Section 7.05 or ‎7.06 occursshall then be continuing, the obligations Administrative Agent shall, upon the written request of the Lenders Required Lenders, by written notice to make Loans and the obligations Borrower, take any or all of the Issuing Lenders following actions, without prejudice to issue Letters of Credit hereunder shall automatically terminate and the Obligations of the Borrower shall immediately become due and payable, and the obligation of the Borrower to Cash Collateralize the L/C Obligations as required in clause (ii) below shall automatically become effective, in each case without any election or action on the part rights of the Administrative Agent or any Lender to enforce its claims against the Borrower or Issuing Lender. If any other Default occursCredit Party in any manner permitted under applicable law: (a) declare the Total Commitment terminated, whereupon the Required Lenders Commitment of each Lender shall forthwith terminate immediately without any other notice of any kind; (or b) declare the Administrative Agent with the consent principal of the Required Lenders) may (i)(i) terminate or suspend (and any accrued interest in whole or in part) the obligations respect of the Lenders to make Loans all Loans, all LC Disbursements which remain unreimbursed, and the Issuing Lenders to issue Letters of Credit all other Obligations owing hereunder and declare under the Obligations of other Credit Documents to be, whereupon the Borrower to be same shall become, forthwith due and payable (in whole or in part), whereupon such Obligations shall become immediately due and payable, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrower; (c) terminate any Letter of Credit which may be terminated in accordance with its terms; (d) direct the Borrower to pay (and the Borrower hereby expressly waives and (ii) require agrees that on receipt of such notice or upon the occurrence of an Event of Default with respect to the Borrower Cash Collateralize under section 10.1(h), it will pay) to the L/C Obligations in Administrative Agent an amount of cash equal to 100% of the outstanding L/C Obligations. Promptly upon any acceleration aggregate Stated Amount of the Obligations, the Administrative Agent will provide the Borrower with notice of such acceleration. If, within thirty (30) days after acceleration of the maturity of the Obligations of the Borrower or termination of the obligations of the Lenders to make Loans and the obligations of the Issuing Lenders to issue all Letters of Credit hereunder then outstanding, with such amount to be held as a result of any Default (other than any Default as described in ‎Section 7.05 or ‎7.06) and before any judgment or decree security for the Borrower's (and any Subsidiary which is an account party) reimbursement and payment obligations in respect thereof; and/or (e) exercise any other right or remedy available under any of the Obligations due shall have been obtained Credit Documents or enteredapplicable law; PROVIDED that, the Required Lenders (if an Event of Default specified in their sole discretionsection 10.1(h) shall so direct, the Administrative Agent shall, by notice occur with respect to the Borrower, rescind and annul the result which would occur upon the giving of written notice by the Administrative Agent as specified in clauses (a) and/or (b) above shall occur automatically without the giving of any such acceleration and/or terminationnotice.

Acceleration, Etc. If any (a) Upon the occurrence of an Event of Default described in ‎Section 7.05 or ‎7.06 occurswhich is continuing the Agent shall, upon the obligations instructions of the Lenders Required Lenders, issue a written notice to make Loans and the obligations Borrower (a "Acceleration Notice") declaring all of the Issuing Lenders Obligations to issue Letters be immediately due and payable. (b) Upon receipt of Credit hereunder shall automatically terminate and the Obligations of an Acceleration Notice the Borrower shall immediately become due pay and payablesatisfy the Obligations, and including payment to the obligation Agent of the Borrower to Cash Collateralize following amounts (without duplication): (i) the L/C Obligations as required in clause Outstanding Advances and all accrued and unpaid interest, fees and other amounts relating thereto; (ii) below shall automatically become effective, in each case without any election or action on the part net aggregate amount of the Administrative Agent Borrower's liability under all Hedge Transactions outstanding on such date in the event of a default or any Lender or Issuing Lender. If any other Default occurstermination thereunder, the Required Lenders (or the Administrative Agent determined in accordance with the consent of the Required Lenders) may terms thereof (i)(i) terminate or suspend (in whole or in part) the obligations of the Lenders and for greater certainty, determined after netting any amounts payable to make Loans and the Issuing Lenders to issue Letters of Credit hereunder and declare the Obligations of the Borrower to be due and thereunder against amounts payable (in whole or in part), whereupon such Obligations shall become immediately due and payable, without presentment, demand, protest or notice of any kind, all of which by the Borrower hereby expressly waives thereunder); and (iiiii) require that the Borrower Cash Collateralize the L/C Obligations in an amount equal to 100% the face amount of all Bankers' Acceptances and BA Equivalent Loans then outstanding. The Agent shall hold all such amounts paid by the Borrower in respect of such Hedge Transactions, Bankers’ Acceptances and BA Equivalent Loans as security for the Borrower's obligations thereunder. (c) At any time on or after the Acceleration Date the Agent may exercise any and all rights and remedies hereunder and under any other Loan Documents, including the enforcement of all or any portion of the outstanding L/C Obligations. Promptly upon any acceleration Security. (d) From and after the date of the Obligationsoccurrence of an Event of Default and for so long as such Event of Default continues, both before and after the Administrative Agent will provide issuance of an Acceleration Notice, all Outstanding Advances shall bear interest or fees at the Borrower with notice of such acceleration. If, within thirty rates otherwise applicable plus two percent (302%) days after acceleration of the maturity of the Obligations of the Borrower or termination of the obligations of per annum in order to compensate the Lenders to make Loans and the obligations of the Issuing Lenders to issue Letters of Credit hereunder as a result of any Default (other than any Default as described in ‎Section 7.05 or ‎7.06) and before any judgment or decree for the payment of the Obligations due shall have been obtained or entered, the Required Lenders (in their sole discretion) shall so direct, the Administrative Agent shall, by notice to the Borrower, rescind and annul such acceleration and/or terminationadditional risk.