Common use of Automatic Acceleration in Certain Events Clause in Contracts

Automatic Acceleration in Certain Events. Upon the occurrence of an Event of Default specified in Section 7.1(f) or (g) of the Credit Agreement, all Guaranteed Obligations shall automatically become immediately due and payable by the Guarantor without notice or other action on the part of the Administrative Agent or other Guaranteed Parties, and regardless of whether payment of the Guaranteed Obligations by the Company has then been accelerated. In addition, if any event of the types described in Section 7.1(f) or (g) of the Credit Agreement should occur with respect to the Guarantor, then the Guaranteed Obligations shall automatically become immediately due and payable by the Guarantor, without notice or other action on the part of the Administrative Agent or other Guaranteed Parties, and regardless of whether payment of the Guaranteed Obligations by the Company has then been accelerated.

Appears in 6 contracts

Samples: Guaranty Agreement (Noble Corp), Guaranty Agreement (Noble Corp), Revolving Credit Agreement (Noble Corp / Switzerland)

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Automatic Acceleration in Certain Events. Upon the occurrence of an Event of Default specified in Section 7.1(f9.1.(e) or (g9.1.(f) of the Credit Agreement, all Guaranteed Obligations shall automatically become immediately due and payable by the Guarantor Guarantor, without notice or other action on the part of the Administrative Agent or other Guaranteed Parties, and regardless of whether payment of the Guaranteed Obligations by the Company Borrower has then been accelerated. In addition, if any event of the types described in Section 7.1(f9.1.(e) or (g9.1.(f) of the Credit Agreement should occur with respect to the Guarantor, then the Guaranteed Obligations shall automatically become immediately due and payable by the Guarantor, without notice or other action on the part of the Administrative Agent or other Guaranteed Parties, and regardless of whether payment of the Guaranteed Obligations by the Company Borrower has then been accelerated.

Appears in 3 contracts

Samples: Credit Agreement (Shaw Industries Inc), Credit Agreement (Shaw Industries Inc), Guaranty (Shaw Industries Inc)

Automatic Acceleration in Certain Events. Upon the occurrence of an Event of Default specified in Section 7.1(f) or (g) of the Credit Agreement, all Guaranteed Obligations shall automatically become immediately due and payable by the Guarantor without notice or other action on the part of the Administrative Agent or other Guaranteed Parties, and regardless of whether payment of the Guaranteed Obligations by the Company Designated Borrower has then been accelerated. In addition, if any event of the types described in Section 7.1(f) or (g) of the Credit Agreement should occur with respect to the Guarantor, then the Guaranteed Obligations shall automatically become immediately due and payable by the Guarantor, without notice or other action on the part of the Administrative Agent or other Guaranteed Parties, and regardless of whether payment of the Guaranteed Obligations by the Company Designated Borrower has then been accelerated.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Noble Corp / Switzerland), Revolving Credit Agreement (Noble Corp)

Automatic Acceleration in Certain Events. Upon the occurrence of an Event of Default specified in Section 7.1(f) or (g) of the Credit Loan Agreement, all Guaranteed Obligations shall automatically become immediately due and payable by the Guarantor without notice or other action on the part of the Administrative Agent or other Guaranteed Parties, and regardless of whether payment of the Guaranteed Obligations by the Company Borrower has then been accelerated. In addition, if any event of the types described in Section 7.1(f) or (g) of the Credit Loan Agreement should occur with respect to the Guarantor, then the Guaranteed Obligations shall automatically become immediately due and payable by the Guarantor, without notice or other action on the part of the Administrative Agent or other Guaranteed Parties, and regardless of whether payment of the Guaranteed Obligations by the Company Borrower has then been accelerated.

Appears in 1 contract

Samples: Assignment Agreement (Noble Corp)

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Automatic Acceleration in Certain Events. Upon the occurrence of an Event of Default specified in Section 7.1(f) or paragraph (gf) of Article XII of the Credit AgreementLease, all Guaranteed Obligations shall automatically become immediately due and payable by the Guarantor Guarantors, without notice or other action on the part of the Administrative Agent or other Guaranteed Parties, and regardless of whether payment of the Guaranteed Obligations by the Company Concord has then been accelerated. In addition, if any event of the types described in Section 7.1(f) or paragraph (gf) of Article XII of the Credit Agreement Lease should occur with respect to the any Guarantor, then the Guaranteed Obligations shall automatically become immediately due and payable by the such Guarantor, without notice or other action on the part of the Administrative Agent or other Guaranteed Parties, and regardless of whether payment of the Guaranteed Obligations by the Company Concord has then been accelerated.

Appears in 1 contract

Samples: Subsidiary Guaranty Agreement (Concord Efs Inc)

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