Common use of Acceleration of the Obligations Clause in Contracts

Acceleration of the Obligations. Upon the occurrence of an Event of Default and during the continuance thereof, Agent may and shall, at the request of Required Lenders, (i) without notice, terminate this facility with respect to further Revolving Credit Loans and Letters of Credit and LC Guaranties, whereupon no Revolving Credit Loans may be made hereunder and no Letters of Credit or LC Guaranties may be issued hereunder, and/or (ii) with notice, declare all Obligations to be forthwith due and payable, whereupon all Obligations shall become and be due and payable, without presentment, demand, protest or further notice of any kind, all of which are expressly waived by Borrowers; provided, however, that upon the occurrence of an Event of Default specified in Section 10.1.10 hereof, the Obligations shall become due and payable without declaration, notice or demand by Agent. Agent shall take such action with respect to any Default or Event of Default as shall be directed by the Required Lenders; provided that, unless and until Agent shall have received such directions, Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable and in the best interests of Agent and Lenders taken as a whole, including any action (or the failure to act) pursuant to the Loan Documents.

Acceleration of the Obligations. Upon the occurrence of an Event of Default and during the continuance thereof, Agent may and shall, at the request of the Required Lenders, without notice, (i) without notice, terminate this facility with respect to further Revolving Credit Loans and Letters of Credit and LC Guaranties, whereupon no Revolving Credit Loans may be made hereunder and no Letters of Credit or LC Guaranties may be issued hereunder, and/or (ii) with notice, declare all Obligations to be forthwith due and payable, whereupon all Obligations shall become and be due and payable, without presentment, demand, protest or further notice of any kind, all of which are expressly waived by Borrowers; provided, however, that upon the occurrence of an Event of Default specified in Section 10.1.10 11.1(J) hereof, the Obligations shall become due and payable without declaration, notice or demand by Agent. Agent shall take such action with respect to any Default or Event of Default as shall be directed by the Required Lenders; provided that, unless and until Agent shall have received such directions, Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable and in the best interests of Agent and Lenders holding Notes taken as a whole, including any action (or the failure to act) pursuant to the Loan Documents.

Acceleration of the Obligations. Upon Without in any way limiting the right of Lender to demand payment of any portion of the Obligations payable on demand in accordance with SECTION 3.2, upon the occurrence of an Event of Default and during the continuance thereof, Agent may and shallmay, and, at the request of the Required Lenders, shall (i) without notice, terminate this facility with respect to further Revolving Credit Loans Loans, Acquisition Loans, and Letters of Credit and LC Guaranties, whereupon no Revolving Credit Loans or Acquisition Loans may be made hereunder and no Letters of Credit or LC Guaranties may be issued hereunder, and/or (ii) with notice, declare all Obligations to be forthwith due and payable, whereupon all Obligations shall become and be due and payable, without presentment, demand, protest or further notice of any kind, all of which are expressly waived by Borrowerseach Borrower; providedPROVIDED, howeverHOWEVER, that upon the occurrence of an Event of Default specified in Section 10.1.10 hereofSECTION 10.1.9, the Obligations shall become due and payable without declaration, notice or demand by Agent. Agent shall take such action with respect to any Default or Event of Default as shall be directed by the Required Lenders; provided PROVIDED that, unless and until Agent shall have received such directions, Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable and in the best interests of Agent and Lenders taken as a whole, including any action (or the failure to act) pursuant to the Loan Documents.such

Acceleration of the Obligations. Upon Without in any way limiting the right of Agent or 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 the occurrence of an Event of Default and during Default, all or any portion of the continuance thereof, Agent may and Obligations shall, at the request option of Agent either acting on its own or at the direction of Required Lenders, (i) without notice, terminate this facility with respect to further Revolving Credit Loans Lenders and Letters of Credit and LC Guaranties, whereupon no Revolving Credit Loans may be made hereunder and no Letters of Credit or LC Guaranties may be issued hereunder, and/or (ii) with notice, declare all Obligations to be forthwith due and payable, whereupon all Obligations shall become and be due and payable, without presentment, demand, protest or further notice by Agent, become at once due and payable and Borrower shall forthwith pay to Agent for its benefit and the ratable benefit of any kindLenders, all the full amount of which are expressly waived by Borrowers; such Obligations, provided, however, that upon the occurrence of an Event of Default specified in Section 10.1.10 subsection 10.1.9 hereof, all of the Obligations shall become automatically due and payable without declaration, notice or demand by AgentAgent or Required Lenders. Agent shall take such action with respect to any Default or Event of Default as shall be directed by the Required Lenders; provided that, unless and until Agent shall have received such directions, Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable and in the best interests of Agent and Lenders taken as a whole, including any action (or the failure to act) pursuant to the Loan Documents.

Acceleration of the Obligations. Upon the occurrence of an Event of Default and during the continuance thereof, Agent may and shall, at the request of Required Lenders, (i) without notice, terminate this facility with respect to further Revolving Credit Loans Loans, Acquisition Loans, and Letters of Credit and LC Guaranties, whereupon no Revolving Credit Loans or Acquisition Loans may be made hereunder and no Letters of Credit or LC Guaranties may be issued hereunder, and/or (ii) with notice, declare all Obligations to be forthwith due and payable, whereupon all Obligations shall become and be due and payable, without presentment, demand, protest or further notice of any kind, all of which are expressly waived by BorrowersBorrower; provided, however, that upon the occurrence of an Event of Default specified in Section 10.1.10 hereof, the Obligations shall become due and payable without declaration, notice or demand by Agent. VPCHI01/#254442.6 2/2/98 38 Agent shall take such action with respect to any Default or Event of Default as shall be directed by the Required Lenders; provided that, unless and until Agent shall have received such directions, Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable and in the best interests of Agent and Lenders taken as a whole, including any action (or the failure to act) pursuant to the Loan Documents.

Acceleration of the Obligations. Upon the occurrence of an Event of Default and during the continuance thereof, Agent may and shall, at the request of Required Lenders, (i) without notice, terminate this facility with respect to further Revolving Credit Loans and Letters of Credit and LC Guaranties, whereupon no Revolving Credit Loans may be made hereunder and no Letters of Credit or LC Guaranties may be issued hereunder, and/or (ii) with notice, declare all Obligations to be forthwith due and payable, whereupon all Obligations shall become and be due and payable, without presentment, demand, protest or further notice of any kind, all of which are expressly waived by BorrowersBorrower; provided, however, that upon the occurrence of an Event of Default specified in Section 10.1.10 hereof, the Obligations shall become due and payable without declaration, notice or demand by Agent. Agent shall take such action with respect to any Default or Event of Default as shall be directed by the Required Lenders; provided that, unless and until Agent shall have received such directions, Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable and in the best interests of Agent and Lenders taken as a whole, including any action (or the failure to act) pursuant to the Loan Documents.

Acceleration of the Obligations. Upon the occurrence of an Event of Default and during the continuance thereof, Agent may and shall, at the request of Required Lenders, (i) without notice, terminate this facility with respect to further Revolving Credit Loans, Term Loans B and Letters of Credit and LC Guaranties, whereupon no Revolving Credit Loans or Term Loans B may be made hereunder and no Letters of Credit or LC Guaranties may be issued hereunder, and/or (ii) with notice, declare all Obligations to be forthwith due and payable, whereupon all Obligations shall become and be due and payable, without presentment, demand, protest or further notice of any kind, all of which are expressly waived by Borrowers; provided, however, that upon the occurrence of an Event of Default specified in Section 10.1.10 hereof, the Obligations shall become due and payable without declaration, notice or demand by Agent. Agent shall take such action with respect to any Default or Event of Default as shall be directed by the Required Lenders; provided that, unless and until Agent shall have received such directions, Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable and in the best interests of Agent and Lenders taken as a whole, including any action (or the failure to act) pursuant to the Loan Documents.

Acceleration of the Obligations. Upon Without in any way limiting the right of Agent or 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 the occurrence of an Event of Default and during Default, all or any portion of the continuance thereof, Agent may and Obligations shall, at the request option of Agent either acting on its own or at the direction of Required Lenders, (i) without notice, terminate this facility with respect to further Revolving Credit Loans Lenders and Letters of Credit and LC Guaranties, whereupon no Revolving Credit Loans may be made hereunder and no Letters of Credit or LC Guaranties may be issued hereunder, and/or (ii) with notice, declare all Obligations to be forthwith due and payable, whereupon all Obligations shall become and be due and payable, without presentment, demand, protest or further notice by Agent, become at once due and payable and Borrower shall forthwith pay to Agent for its benefit and the ratable benefit of any kindLenders, all the full amount of which are expressly waived by Borrowers; such Obligations, provided, however, that upon the occurrence of an Event of Default specified in Section 10.1.10 Subsection 10.1.9 hereof, all of the Obligations shall become automatically due and payable without declaration, notice or demand by AgentAgent or Required Lenders. Agent shall take such action with respect to any Default or Event of Default as shall be directed by the Required Lenders; provided that, unless and until Agent shall have received such directions, Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable and in the best interests of Agent and Lenders taken as a whole, including any action (or the failure to act) pursuant to the Loan Documents.