Common use of Acceleration of the Obligations Clause in Contracts

Acceleration of the Obligations. Without in any way limiting the right of Agent or the Lenders to demand payment of any portion of the Obligations payable on demand in accordance with Section 3.2 hereof, upon or at any time after the occurrence of an Event of Default, all or any portion of the Obligations shall, at the option of the Required Lenders and without presentment, demand, protest or further notice by Agent or any Lender, become at once due and payable and Borrower shall forthwith pay to Agent for the ratable benefit of Lenders, the full amount of such Obligations, provided, that upon the occurrence of an Event of Default specified in subsection 10.1.7 hereof, all of the Obligations shall become automatically due and payable without declaration, notice or demand by Agent or any Lender.

Appears in 2 contracts

Samples: Loan and Security Agreement (Nations Flooring Inc), Loan and Security Agreement (Nations Flooring Inc)

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Acceleration of the Obligations. Without in any way limiting the right of Agent or the Lenders to demand payment of any portion of the Obligations payable on demand in accordance with Section SECTION 3.2 hereof, upon or at any time after the occurrence of an Event of Default, all or any portion of the Obligations shall, at the option of the Required Lenders and without presentment, demand, protest or further notice by Agent or any Lender, become at once due and payable and Borrower shall forthwith pay to Agent for the ratable benefit of Lenders, the full amount of such Obligations, provided, that upon the occurrence of an Event of Default specified in subsection SUBSECTION 10.1.7 hereof, all of the Obligations shall become automatically due and payable without declaration, notice or demand by Agent or any Lender.

Appears in 1 contract

Samples: Loan and Security Agreement (Executone Information Systems Inc)

Acceleration of the Obligations. Without in any way limiting the right of Agent or the Lenders to demand payment of any portion of the Obligations payable on demand in accordance with Section 3.2 hereof, upon or at any time after the occurrence and during the continuance of an Event of Default, all or any portion of the Obligations shall, at the option of Agent or at the Required Lenders request of Majority Lenders, and without presentment, demand, protest or further notice by Agent or any Lender, become at once due and payable and Borrower Borrowers shall forthwith pay to Agent for the ratable benefit of Lenders, Lenders the full amount of such Obligations, provided, that upon the occurrence of an Event of Default specified in subsection 10.1.7 9.1(g) hereof, all of the Obligations shall become automatically due and payable without declaration, notice or demand by Agent or any LenderAgent.

Appears in 1 contract

Samples: Loan and Security Agreement (Integra Lifesciences Corp)

Acceleration of the Obligations. Without in any way limiting the right of Agent or and the Lenders to demand payment of any portion of the Obligations payable on demand in accordance with Section SUBSECTION 3.2 hereof, upon or at any time after the occurrence of an Event of Default, all or any portion of the Obligations shall, at the option of Agent (with the consent of the Required Lenders or at the direction of the Required Lenders), and without presentment, demand, protest or further notice by Agent or any LenderAgent, become at once due and payable and Borrower shall forthwith pay to Agent Agent, for the ratable benefit of the Lenders, the full amount of such Obligations, provided, that upon the occurrence of an Event of Default specified in subsection 10.1.7 SUBSECTION 11.1.9 hereof, all of the Obligations shall become automatically due and payable without declaration, notice or demand by Agent or any LenderAgent.

Appears in 1 contract

Samples: Credit Agreement (Drypers Corp)

Acceleration of the Obligations. Without in any way limiting the right of Agent or the Lenders to demand payment of any portion of the Obligations payable on demand in accordance with Section 3.2 hereof, upon or at any time after the occurrence of an Event of Default, all or any portion of the Obligations shall, at the option of Agent (or by Agent at the Required Lenders written direction of the Majority Lenders) and without presentment, demand, protest or further notice by Agent or any LenderAgent, become at once due and payable and Borrower shall forthwith pay to Agent for the ratable benefit of Lenders, the full amount of such Obligations, providedprovided that, that upon the occurrence of an Event of Default specified in subsection 10.1.7 hereof10.1.9 hereof (other than an Event of Default based solely on Borrower's ceasing to be Solvent), all of the Obligations shall become automatically due and payable without declaration, notice or demand by Agent or any LenderAgent.

Appears in 1 contract

Samples: Loan and Security Agreement (Gentiva Health Services Inc)

Acceleration of the Obligations. Without in any way limiting the right of Agent or the and/or Lenders to demand payment of any portion of the Obligations payable on demand in accordance with Section 3.2 hereof, upon or at any time after the occurrence and during the continuance of an Event of Default, all or any portion of the Obligations shall, at the option of the Required Agent and/or Requisite Lenders and without presentment, demand, protest protest, notice of intent to accelerate, notice of acceleration, or any other further notice by Agent or any Lender, become at once due and payable and Borrower shall forthwith pay to Agent for the ratable benefit of Lenders, the full amount of such Obligations; provided, providedhowever, that upon the occurrence of an Event of Default specified in subsection 10.1.7 Section 10.1.10 hereof, all of the Obligations shall become automatically due and payable without declaration, notice or demand by Agent or any LenderLenders.

Appears in 1 contract

Samples: Loan and Security Agreement (Industrial Data Systems Corp)

Acceleration of the Obligations. Without in any way limiting the right of Agent or the all Lenders to demand payment of any portion of the Obligations payable on demand in accordance with Section 3.2 hereof, upon or at any time after during the occurrence continuance of an Event of Default, all or any portion of the Obligations shall, at the option of the Required all Lenders and without presentment, demand, protest or further notice by Agent or any Lender, become at once due and payable upon demand and Borrower Borrowers shall forthwith pay to Agent for the ratable benefit of and Lenders, the full amount of such Obligations, provided, that upon the occurrence of an Event of Default specified in subsection 10.1.7 10.1.9 hereof, all of the Obligations shall become automatically due and payable without declaration, notice or demand by Agent or any LenderLenders.

Appears in 1 contract

Samples: Loan and Security Agreement (Restoration Hardware Inc)

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Acceleration of the Obligations. Without in any way limiting the ------------------------------- right of Agent or the Required Lenders to demand payment of any portion of the Obligations payable on demand in accordance with Section 3.2 hereof, upon or at any time after during the occurrence continuance of an Event of Default, all or any portion of the Obligations shall, at the option of the Agent or Required Lenders and without presentment, demand, protest or further notice by Agent or any Lender, become at once due and payable upon demand and Borrower Borrowers shall forthwith pay to Agent for the ratable benefit of and Lenders, the full amount of such Obligations, provided, that upon the occurrence -------- of an Event of Default specified in subsection 10.1.7 10.1.9 hereof, all of the Obligations shall become automatically due and payable without declaration, notice or demand by Agent or any LenderLenders.

Appears in 1 contract

Samples: Loan and Security Agreement (Restoration Hardware Inc)

Acceleration of the Obligations. Without in any way limiting the right of Agent or the Lenders to demand payment of any portion of the Obligations payable on demand in accordance with Section 3.2 hereof, upon or at any time after the occurrence of an Event of Default, all or any portion of the Obligations shall, at the option of Agent (or by Agent at the Required Lenders written direction of the Majority Lenders) and without presentment, demand, protest or further notice by Agent or any LenderAgent, become at once due and payable and Borrower Borrowers shall forthwith pay to Agent for the ratable benefit of Lenders, the full amount of such Obligations, providedprovided that, that upon the occurrence of an Event of Default specified in subsection 10.1.7 hereof10.1.9 or subsection 10.1.18 hereof (other than an Event of Default based solely on a Borrower's ceasing to be Solvent), all of the Obligations shall become automatically due and payable without declaration, notice or demand by Agent or any LenderAgent.

Appears in 1 contract

Samples: Loan and Security Agreement (Gentiva Health Services Inc)

Acceleration of the Obligations. Without in any way limiting the right of Agent or the Lenders to demand payment of any portion of the Obligations payable on demand in accordance with Section 3.2 hereof, upon or at any time after the occurrence of an Event of Default, all or any portion of the Obligations shall, at the option of Agent, (but subject to the Required Lenders written direction of Majority Lenders) and without presentment, demand, demand protest or further notice by Agent or any Lender, become at once due and payable payable, and Borrower Borrowers shall forthwith pay to Agent for the ratable benefit of Lenders, Lenders the full amount of such Obligations, provided, that upon the occurrence of an Event of Default specified in subsection 10.1.7 10.1.9 hereof, all of the Obligations shall become automatically due and payable without declaration, notice or demand by Agent or any Lenderdemand.

Appears in 1 contract

Samples: Loan and Security Agreement (Eagle Supply Group Inc)

Acceleration of the Obligations. Without in any way limiting the right of Agent or the Lenders to demand payment of any portion of the Obligations payable on demand in accordance with Section 3.2 the terms hereof, upon or at any time after the occurrence and during the continuance of an Event of Default, all or any portion of the Obligations shall, at the option of the Required Agent or Majority Lenders and without presentment, demand, demand protest or further notice by Agent or any Lender, become at once due and payable and Borrower shall forthwith pay to Agent Agent, for the ratable benefit of Lenders, the full amount of such Obligations, providedPROVIDED, that upon the occurrence of an Event of Default specified in subsection 10.1.7 hereof10.1.8, all of the Obligations shall become automatically due and payable without declaration, notice or demand by Agent or any Lenderdemand.

Appears in 1 contract

Samples: Loan and Security Agreement (Color Spot Nurseries Inc)

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