Common use of Action if Bankruptcy Clause in Contracts

Action if Bankruptcy. If any Event of Default described in Section 9.1(i) shall occur, the Commitments (if not theretofore terminated) shall automatically terminate and the outstanding principal amount of all outstanding Loans and all other Obligations (including Reimbursement Obligations) shall automatically be and become immediately due and payable, without presentment, protest, notice or demand (all of which are hereby expressly waived by the Borrower) and the Borrower or any other Obligor shall automatically and immediately be obligated to deposit with the Administrative Agent cash collateral in an amount equal to all Letter of Credit Outstandings.

Appears in 3 contracts

Samples: Senior Secured Credit Agreement (Titan Corp), Senior Secured Credit Agreement (Titan Corp), Senior Secured Credit Agreement (Titan Corp)

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Action if Bankruptcy. If any Default or Event of Default described in Section 9.1(i) 9.1.6 shall occur, the Commitments (if not theretofore terminated) Commitment shall automatically terminate be terminated in full and the outstanding principal amount of all outstanding Loans and the outstanding amount of all other Obligations (including Reimbursement Obligations) shall automatically be and become immediately due and payable, without presentment, protest, notice or demand (all of which are hereby expressly waived by the Borrower) and the Borrower or any other Obligor shall automatically and immediately be become obligated to deposit with provide cash Collateral to the Administrative Agent cash collateral Bank in an amount equal to the undrawn amount under all Letter Letters of Credit OutstandingsCredit, all without notice, demand, presentment or other action of any kind.

Appears in 1 contract

Samples: Credit Agreement (Edison Schools Inc)

Action if Bankruptcy. If any Event of Default described in Section 9.1(iCLAUSES (a) through (d) of SECTION 8.1.9 shall occuroccur with respect to the Borrower, the Commitments (if not theretofore terminated) shall automatically terminate and the outstanding principal amount of all outstanding Loans and all other Obligations (including Reimbursement Obligations) shall automatically be and become immediately due and payable, without presentment, protest, notice or demand (all of which are hereby expressly waived by the Borrower) and the Borrower or any other Obligor shall automatically and immediately be obligated to deposit with the Administrative Agent cash collateral in an amount equal to all Letter of Credit Outstandings.

Appears in 1 contract

Samples: Credit Agreement (KSL Recreation Group Inc)

Action if Bankruptcy. If any Event of Default described in Section SECTION 9.1(i) shall occur, the Commitments (if not theretofore terminated) shall automatically terminate and the outstanding principal amount of all outstanding Loans and all other Obligations (including Reimbursement Obligations) shall automatically be and become immediately due and payable, without presentment, protest, notice or demand (all of which are hereby expressly waived by the Borrower) and the Borrower or any other Obligor shall automatically and immediately be obligated to deposit with the Administrative Agent cash collateral in an amount equal to all Letter of Credit Outstandings.

Appears in 1 contract

Samples: Credit Agreement (Titan Corp)

Action if Bankruptcy. If any Event of Default described in clauses (a) through (d) of Section 9.1(i) 8.1.9 shall occur, the Commitments (if not theretofore terminated) shall automatically terminate and the outstanding principal amount of all outstanding Loans and all other Obligations (including Reimbursement Obligations) shall automatically be and become immediately due and payable, without presentment, protest, notice or demand (all of which are hereby expressly waived by the Borrower) and the Borrower or any other Obligor shall automatically and immediately be obligated to deposit with the Administrative Agent cash collateral to be held in an interest-bearing account in an amount equal to all Letter of Credit Outstandings.

Appears in 1 contract

Samples: Credit Agreement (Prosource Inc)

Action if Bankruptcy. If any Event of Default described in Section 9.1(i) SECTION 9.1.8 shall occur, the Commitments and any obligation of the Issuer to issue Letters of Credit (if not theretofore terminated) shall automatically terminate and the outstanding principal amount of all outstanding Loans Loans, the maximum aggregate amount that is or at any time thereafter may become available for drawing under any outstanding Letters of Credit and all other Obligations (including Reimbursement Obligations) shall automatically be and become immediately due and payable, without presentment, protestdemand, protest or other notice or demand (of any kind, all of which are hereby expressly waived by the Borrower) and the Borrower or any other Obligor shall automatically and immediately be obligated to deposit with the Administrative Agent cash collateral in an amount equal to all Letter of Credit Outstandings.

Appears in 1 contract

Samples: Refunding Credit Agreement (Cornerstone Propane Partners Lp)

Action if Bankruptcy. If any Event of Default described -------------------- in clauses (a) through (d) of Section 9.1(i) 8.1.9 shall occur, the Commitments (if not ----------- --- ------------- theretofore terminated) shall automatically terminate and the outstanding principal amount of all outstanding Loans and all other Obligations (including Reimbursement Obligations) shall automatically be and become immediately due and payable, without presentment, protest, notice or demand (all of which are hereby expressly waived by the Borrower) and the Borrower or any other Obligor shall automatically and immediately be obligated to deposit with the Administrative Agent cash collateral in an amount equal to all Letter of Credit Outstandings.

Appears in 1 contract

Samples: Credit Agreement (Primestar Inc)

Action if Bankruptcy. If any Default or Event of Default described in Section 9.1(i) 10.1.6 shall occur, all of the Commitments (if not theretofore terminated) and all obligations to issue Letters of Credit shall automatically terminate be terminated and the outstanding principal amount of all outstanding Revolving Loans and the outstanding amount of all other Obligations (including Reimbursement Obligations) shall automatically be and become immediately due and payable, without presentment, protest, notice or demand (all of which are hereby expressly waived by the Borrower) and the Borrower or any other Obligor shall automatically and immediately be become obligated to deposit with provide cash collateral to the Administrative Agent cash collateral in an amount equal to the undrawn amount under all Letter Letters of Credit OutstandingsCredit, all without notice, demand, presentment or other action of any kind.

Appears in 1 contract

Samples: Credit Agreement (Chiquita Brands International Inc)

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Action if Bankruptcy. If any Event of Default described in clauses (a) through (d) of Section 9.1(i) 8.1.9 shall occur, the Commitments (if not theretofore terminated) shall automatically terminate and the outstanding principal amount of all outstanding Loans and all other Obligations (including Reimbursement Obligations) shall automatically be and become immediately due and payable, without presentment, protest, notice or demand (all of which are hereby expressly waived by the Borrower) and the Borrower or any other Obligor shall automatically and immediately be obligated to deposit with the Administrative Agent cash collateral in an amount equal to all Letter of Credit Outstandings.

Appears in 1 contract

Samples: Security Agreement (Titan Corp)

Action if Bankruptcy. If any Default or Event of Default -------------------- described in Section 9.1(i) 10.1.6 shall occur, all of the Commitments (if not theretofore terminated) and all -------------- obligations to issue Letters of Credit shall automatically terminate be terminated and the outstanding principal amount of all outstanding Loans and the outstanding amount of all other Obligations (including Reimbursement Obligations) shall automatically be and become immediately due and payable, without presentment, protest, notice or demand (all of which are hereby expressly waived by the Borrower) and the Borrower or any other Obligor shall automatically and immediately be become obligated to deposit with the Administrative Agent provide cash collateral to the Agent in an amount equal to the undrawn amount under all Letter Letters of Credit OutstandingsCredit, all without notice, demand, presentment or other action of any kind.

Appears in 1 contract

Samples: Credit Agreement (View Tech Inc)

Action if Bankruptcy. If any Event of Default described in Section 9.1(i) 9.1.5 shall occur, the Commitments (if not theretofore terminated) shall automatically terminate and the outstanding principal amount of all outstanding Loans and all other Obligations (including Reimbursement Obligations) of the Borrower shall automatically be and become immediately due and payable, without presentment, protest, notice or demand (all of which are hereby expressly waived by the Borrower) and the Borrower or any other Obligor shall automatically and immediately be obligated to deposit with the Administrative Agent cash collateral in immediately available funds to be held in the LOC 93 102 Collateralization Account in an amount equal to all Letter of Credit Outstandings.

Appears in 1 contract

Samples: Secured Credit Agreement (Prosource Inc)

Action if Bankruptcy. If any Event of Default described in Section 9.1(i) 10.1.6 shall occur, all of the Commitments (if not theretofore terminated) and all obligations to issue Letters of Credit shall automatically terminate be terminated and the outstanding principal amount of all outstanding Loans and the outstanding amount of all other Obligations (including Reimbursement Obligations) shall automatically be and become immediately due and payable, without presentment, protest, notice or demand (all of which are hereby expressly waived by the Borrower) and the Borrower or any other Obligor shall automatically and immediately be become obligated to deposit with the Administrative Agent provide cash collateral to the Agent in an amount equal to the undrawn amount under all Letter Letters of Credit OutstandingsCredit, all without notice, demand, presentment or other action of any kind.

Appears in 1 contract

Samples: Credit Agreement (Softech Inc)

Action if Bankruptcy. If any Event of Default described in Section 9.1(i) 8.1.9 shall occuroccur with respect to the Borrower or any Foreign Borrower, the Commitments (if not theretofore terminated) shall automatically terminate and terminate, the outstanding principal amount of all outstanding Loans Borrowings and all other Obligations (including Reimbursement Obligations) shall automatically be and become immediately due and payable and the obligation of the Borrower to deposit Cash Collateral in accordance with Section 2.11(j) shall become automatically effective, and such deposit shall become immediately due and payable, in each case, without notice, demand or presentment, protest, notice or demand (all of which are hereby expressly waived by the Borrower) and the Borrower or any other Obligor shall automatically and immediately be obligated to deposit with the Administrative Agent cash collateral in an amount equal to all Letter of Credit Outstandings.

Appears in 1 contract

Samples: Credit Agreement (Noble Energy Inc)

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