Common use of Acceleration of LC Obligations Clause in Contracts

Acceleration of LC Obligations. If the Obligations or any part thereof become immediately due and payable pursuant to Section 9.1 then, unless Lender otherwise specifically elects to the contrary (which election may thereafter be retracted by Lender at any time), all LC Obligations shall become immediately due and payable without regard to whether or not actual drawings or payments on the Letters of Credit have occurred, and Borrower shall be obligated to pay to Lender immediately an amount equal to the aggregate LC Obligations which are then outstanding, which amount shall be held by Lender as LC Collateral securing the remaining LC Obligations and the other Obligations, and such LC Collateral may be applied from time to time to any Matured LC Obligations or any other Obligations which are due and payable.

Acceleration of LC Obligations. If the Obligations or any part thereof become immediately due and payable pursuant to Section 9.1 8.1 then, unless Lender Majority Lenders otherwise specifically elects elect to the contrary (which election may thereafter be retracted by Lender Majority Lenders at any time), all LC Obligations shall become immediately due and payable without regard to whether or not actual drawings or payments on the Letters of Credit have occurred, and Borrower shall be obligated to pay to Lender LC Issuer immediately an amount equal to the aggregate LC Obligations which are then outstanding, which amount shall be held by Lender LC Issuer as LC Collateral securing the remaining LC Obligations and the other Obligations, and such LC Collateral may be applied from time to time to any Matured LC Obligations or any other Obligations which are due and payable.

Acceleration of LC Obligations. If the Secured Obligations or any part thereof become immediately due and payable pursuant to Section 9.1 8.1 then, unless Lender Required Lenders otherwise specifically elects elect to the contrary (which election may thereafter be retracted by Lender Required Lenders at any time), all LC Obligations shall become immediately due and payable without regard to whether or not actual drawings or payments on the Letters of Credit have occurred, and Borrower shall be obligated to pay to Lender LC Issuer immediately an amount equal to the aggregate LC Obligations which are then outstanding, which amount shall be held by Lender LC Issuer as LC Collateral securing the remaining LC Obligations and the other Secured Obligations, and such LC Collateral may be applied from time to time to any Matured LC Obligations or any other Secured Obligations which are due and payable.

Acceleration of LC Obligations. If the Obligations or any part thereof become immediately due and payable pursuant to Section 9.1 8.1 then, unless Lender Required Lenders otherwise specifically elects elect to the contrary (which election may thereafter be retracted by Lender Required Lenders at any time), all LC Obligations shall become immediately due and payable without regard to whether or not actual drawings or payments on the Letters of Credit have occurred, and Borrower shall be obligated to pay to Lender LC Issuer immediately an amount equal to the aggregate LC Obligations which are then outstanding, which amount shall be held by Lender LC Issuer as LC Collateral securing the remaining LC Obligations and the other Obligations, and such LC Collateral may be applied from time to time to any Matured LC Obligations or any other Obligations which are due and payable.