Action in Event of Default. (i) Upon any Event of Default specified in clause (h) of Section 7.1 with respect to the Borrower, the Commitments shall immediately terminate automatically and the Loans (with accrued interest thereon) and all other Obligations owing under this Agreement and the other Loan Documents shall automatically immediately become due and payable, and (ii) if any other Event of Default under Section 7.1 occurs, with the consent of the Required Lenders, the Administrative Agent shall, upon the request of the Required Lenders, by notice to the Borrower, declare the Commitments to be terminated and the Loans (with accrued interest thereon) and all other Obligations owing under this Agreement and the other Loan Documents to be due and payable forthwith, whereupon the same shall immediately terminate and become due and payable. Except as expressly provided above in this Section 7.2, presentment, demand, protest and all other notices of any kind are hereby expressly waived by the Obligors to the fullest extent permitted by law.
Appears in 3 contracts
Sources: Credit Agreement (Milacron Holdings Corp.), Credit Agreement (Milacron Holdings Corp.), Term Loan Agreement (Milacron Holdings Corp.)