Common use of ACCELERATION UPON DEFAULT; REMEDIES Clause in Contracts

ACCELERATION UPON DEFAULT; REMEDIES. Upon the occurrence of any Default specified in this Article 11, Requisite Lenders may, at their sole option, declare all sums owing to Lenders under the Notes, this Agreement and the other Loan Documents immediately due and payable, and upon the occurrence of a Default described in Section 11.1(f) or Section 11.1(g) all sums owing to Lenders under the Notes, this Agreement and the other Loan Documents shall automatically become due and payable. Upon such acceleration, Administrative Agent may, in addition to all other remedies permitted under this Agreement and the other Loan Documents and at law or equity, apply any sums in any account pledged by Borrowers as collateral for the Loan to the sums owing under the Loan Documents and any and all obligations of Lenders to fund further disbursements under the Loan (if any) shall terminate.

ACCELERATION UPON DEFAULT; REMEDIES. Upon the occurrence of any Default specified in this Article 11Article, Requisite Lenders Lender may, at their its sole option, declare all sums owing to Lenders Lender under the NotesNote, this Agreement and the other Loan Documents immediately due and payable. In addition, and upon the occurrence of a Default described in Section 11.1(f7.1(e) or Section 11.1(g) 7.1(f), all sums owing to Lenders Lender under the NotesNote, this Agreement and the other Loan Documents shall automatically immediately become due and payablepayable without any further action of Lender. Upon such acceleration, Administrative Agent Lender may, in addition to all other remedies permitted under this Agreement and the other Loan Documents and at law or equity, apply any sums in any account pledged by Borrowers as collateral for the Loan Account to the sums owing under the Loan Documents and Documents. In addition, following the occurrence of a Default, any and all obligations of Lenders Lender to fund further disbursements under the Loan (if any) shall terminate.

ACCELERATION UPON DEFAULT; REMEDIES. Upon the occurrence of any Default specified in this Article 1112, Requisite Lenders may, at their sole option, declare all sums owing to Lenders under the Notes, this Agreement and the other Loan Documents immediately due and payable, and upon the occurrence of a Default described in Section 11.1(f) or Section 11.1(g) all sums owing to Lenders under the Notes, this Agreement and the other Loan Documents shall automatically become due and payable. Upon such acceleration, Administrative Agent may, and at the direction of Requisite Lenders, shall (unless such action could, in Administrative Agent’s opinion, result in significant impairment of the ability of all Lenders to recover any further amounts in respect of the Loan under applicable laws), in addition to all other remedies permitted under this Agreement and the other Loan Documents and at law or equity, apply any sums in any account pledged by Borrowers as collateral for the Loan Accounts to the sums owing under the Loan Documents and any and all obligations of Lenders to fund further disbursements under the Loan (if any) shall terminate.

ACCELERATION UPON DEFAULT; REMEDIES. Upon the occurrence of any Default specified in this Article 11, Requisite Lenders Lender may, at their its sole option, declare all sums owing to Lenders Lender under the NotesNote, this Agreement and the other Loan Documents immediately due and payable, and upon the occurrence of a Default described in Section 11.1(f) or Section 11.1(g) all sums owing to Lenders Lender under the NotesNote, this Agreement and the other Loan Documents shall automatically become due and payable. Upon such acceleration, Administrative Agent Lender may, in addition to all other remedies permitted under this Agreement and the other Loan Documents and at law or equity, apply any sums in any account pledged by Borrowers Borrower as collateral for the Loan to the sums owing under the Loan Documents and any and all obligations of Lenders Lender to fund further disbursements under the Loan (if any) shall terminate.