Actions following an Event of Default Sample Clauses
Actions following an Event of Default. On, or at any time after, the occurrence and during the continuation of an Event of Default:
(a) the Agent may, and if so instructed by the Majority Lenders, the Agent shall:
(i) serve on the Borrowers a notice stating that all or part of the Commitments and of the other obligations of each Lender to the Borrowers under this Agreement are cancelled; and/or
(ii) serve on the Borrowers a notice stating that all or part of the Loan together with accrued interest and all other amounts accrued or owing under this Agreement are immediately due and payable or are due and payable on demand; and/or
(iii) take any other action which, as a result of the Event of Default or any notice served under paragraph (i) or (ii), the Agent and/or the Lenders are entitled to take under any Finance Document or any applicable law; and/or
(b) the Security Trustee may, and if so instructed by the Agent, acting with the authorisation of the Majority Lenders, the Security Trustee shall take any action which, as a result of the Event of Default or any notice served under paragraph (a)(i) or (a)(ii), the Security Trustee, the Agent and/or the Lenders and/or the Swap Counterparties are entitled to take under any Finance Document or any applicable law.
Actions following an Event of Default. On, or at any time after, the occurrence of an Event of Default the Lender may:
(a) serve on the Borrower a notice stating that all obligations of the Lender to the Borrower under this Agreement are terminated; and/or
(b) serve on the Borrower a notice stating that the Loan, all accrued interest and all other amounts accrued or owing under this Agreement are immediately due and payable or are due and payable on demand; and/or
(c) take any other action which, as a result of the Event of Default or any notice served under paragraph (a) or (b) above, the Lender is entitled to take under any Finance Document or any applicable law.
Actions following an Event of Default. On, or at any time after, the occurrence of an Event of Default:
(a) the Agent may, and if so instructed by the Majority Lenders, the Agent shall:
(i) serve on the Borrower a notice stating that the Commitments and all other obligations of each Lender to the Borrower under this Agreement are terminated; and/or
(ii) serve on the Borrower a notice stating that the Loan, all accrued interest and all other amounts accrued or owing under this Agreement are immediately due and payable or are due and payable on demand; and/or
(iii) take any other action which, as a result of the Event of Default or any notice served under paragraph (i) or (ii) above, the Agent and/or the Lenders are entitled to take under any Finance Document or any applicable law; and/or
(b) the Security Trustee may, and if so instructed by the Agent, acting with the authorisation of the Majority Lenders, the Security Trustee shall take any action which, as a result of the Event of Default or any notice served under paragraph (a) (i) or (ii) above, the Security Trustee, the Agent and/or the Lenders are entitled to take under any Finance Document or any applicable law.
Actions following an Event of Default. On, or at any time after, the occurrence of an Event of Default:
Actions following an Event of Default. On, or at any time after, the occurrence of an Event of Default the Agent may, and if so instructed by the Majority Lenders, the Agent shall:
(a) serve on the Borrower a notice stating that the Commitments and all other obligations of each Lender to the Borrower under this Agreement are terminated; and/or
(b) serve on the Borrower a notice stating that the Loan (including but without limitation the amount representing the financed second instalment of the SACE Premium), all accrued interest and all other amounts accrued or owing under this Agreement are immediately due and payable or are due and payable on demand; and/or
(c) take any other action which, as a result of the Event of Default or any notice served under paragraph (a) or (b), the Agent and/or the Lenders are entitled to take under any Finance Document or any applicable law.
Actions following an Event of Default. On, or at any time after, the occurrence of an Event of Default:
(a) the Lender may:
(i) serve on the Borrower a notice stating that the obligations of the Lender to the Borrower under this Agreement are terminated; and/or
(ii) serve on the Borrower a notice stating that the Loan, all accrued interest and all other amounts accrued or owing under this Agreement are immediately due and payable or are due and payable on demand; and/or
(iii) take any other action which, as a result of the Event of Default or any notice served under paragraph (i) or (ii) above, the Lender is entitled to take under any Finance Document or any applicable law; and/or
(b) the Lender may take any action which, as a result of the Event of Default or any notice served under paragraph (a) (i) or (ii) above, the Lender is entitled to take under any Finance Document or any applicable law.
Actions following an Event of Default. On, or at any time after, the occurrence of an Event of Default the Lender may:
a) serve on the Borrowers a notice stating that all obligations of the Lender to the Borrowers under this Agreement are terminated, provided that no notice shall be required in connection with the events contemplated by 7.1(b) and (c); and/or
b) serve on the Borrowers a notice stating that the Loan, all accrued interest and all other amounts accrued or owing under this Agreement are immediately due and payable or are due and payable on demand, provided that no notice shall be required in connection with the events contemplated by 7.1(b) and (c); and/or
Actions following an Event of Default. On, or at any time after, the occurrence of an Event of Default: the Agent may, and if so instructed by the Majority Lenders, the Agent shall:
Actions following an Event of Default. On, or at any time after, the occurrence of an Event of Default the Facility Agent may:
(a) serve on the Borrowers a notice stating that all obligations of the Lenders to the Borrowers under this Agreement are terminated; and/or
(b) serve on the Borrowers a notice stating that the Loan, all accrued interest and all other amounts accrued or owing under this Agreement are immediately due and payable or are due and payable on demand; provided that in the case of an Event of Default under any of Clauses 13.1 (f), the Loan and all accrued interest and other amounts accrued or owing hereunder shall be deemed immediately due and payable without notice or demand therefor; and/or
(c) change the Approved Managers; and/or
(d) take any other action which, as a result of the Event of Default or any notice served under paragraph (a) or (b) above, a Credit Party is entitled to take under any Finance Document or any applicable law.
Actions following an Event of Default. (a) Upon the occurrence of any Event of Default (other than a Limited Payment Default) and the issuance of an Acceleration Notice, each Representative Agent shall, by notice to the Borrower, given in accordance with Section 7.01(h), (i) declare the Commitments of its Related Lenders and the obligation of its Related Lenders to make Advances (other than Advances by the Refinancing Issuing Bank or a Refinancing Lender pursuant to the Refinancing Credit Agreement relating to a drawing under any Refinancing Letter of Credit) or, in the case of the Refinancing Issuing Bank, to issue Refinancing Letters of Credit (or assume any Existing Letter of Credit), to be terminated, whereupon the same shall forthwith terminate, and (ii) declare the Bank Notes of such Related Lenders, all interest thereon and all other amounts payable under this Agreement and the other Financing Documents owing to such Related Lenders to be forthwith due and payable, whereupon such Bank Notes, all such interest and all such amounts shall become and be forthwith due and payable, without presentment, demand, protest or further notice of any kind, all of which are hereby expressly waived by the Borrower; provided that upon the occurrence of any Event of Default described in Section 6.01(f) with respect to the Borrower, (A) the Commitments of each Lender and Refinancing Issuing Bank and the obligation of any Lender or Refinancing Issuing Bank to make Advances (other than Advances by the Refinancing Issuing Bank or a Refinancing Lender relating to a drawing under any Refinancing Letter of Credit) or to issue Refinancing Letters of Credit (or assume any Existing Letter of Credit) shall automatically be terminated and (B) all Bank Notes, all interest and all such amounts shall automatically become and be due and payable, without presentment, demand, protest or any notice of any kind, all of which are hereby expressly waived by the Borrower.
(b) Without prejudice to clause (a) above with respect to an Event of Default described in Section 6.01(f), upon the occurrence of a Limited Payment Default under any Facility, the Representative Agent for such Facility (i) shall at the request, or may with the consent, of the Required New Money Lenders (if such Facility is the New Money Facility), the Required Refinancing Lenders (if such Facility is the Refinancing Facility) or the Required Springdale Lenders (if such Facility is the Springdale Facility), as the case may be, by notice to the Borrower and the...