Common use of Action in Event of Default Clause in Contracts

Action in Event of Default. (a) Upon any Event of Default specified in Section 10.1(f), the Term Loan Commitment shall immediately terminate automatically and the Term Loan (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 (b) if any other Event of Default under Section 10.1 occurs, then the Administrative Agent may, or at the request of the Required Lenders shall, take any or all of the following actions for so long as such Event of Default is continuing: (i) by notice to the Borrower, declare the Term Loan (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 become due and payable, (ii) the Administrative Agent may enforce on any Guarantee. Except as expressly provided above in this Section 10.2, presentment, demand, protest and all other notices of any kind are hereby expressly waived by the Borrower. NYDOCS02/1076196.5 53

Action in Event of Default. (a) Upon any Event of Default specified in Section 10.1(f10.01(f), the Term Loan Commitment Commitments shall immediately terminate automatically and the Term Loan 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 (b) if any other Event of Default under Section 10.1 10.01 occurs, then the Administrative Agent mayAgent, or at the request of the Required Lenders shallLenders, shall take any or all of the following actions for so long as such Event of Default is continuingactions: (i) by notice to the Borrower, declare the Term Loan 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 become due and payable, (ii) the Administrative Agent, in its capacity as Collateral Agent, may enforce all Liens and security interests created pursuant to the Security Documents and (iii) the Administrative Agent may enforce on any Guarantee. Except as expressly provided above in this Section 10.210.02, presentment, demand, protest and all other notices of any kind are hereby expressly waived by the Borrower. NYDOCS02/1076196.5 53Notwithstanding #4848-1207-1386 149