Common use of Automatic Acceleration of Maturity Clause in Contracts

Automatic Acceleration of Maturity. If any Event of Default pursuant to paragraph (f) of Section 9.01 shall occur, the obligation of the Lender to make Advances shall immediately and automatically be terminated and the Notes, all interest on the Notes, and all other amounts payable under this Agreement shall immediately and automatically become and be due and payable in full, without presentment, demand, protest or any notice of any kind (including, without limitation, any notice of intent to accelerate or notice of acceleration), all of which are hereby expressly waived by the Borrower.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Meristar Hotels & Resorts Inc), Revolving Credit Agreement (Meristar Hospitality Corp)

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Automatic Acceleration of Maturity. If any Event of Default pursuant to paragraph (f) of Section 9.01 shall occur8.01 with respect to the Borrower or any Guarantor, the Commitments and any other obligation of the each Lender to make Advances an Advance shall immediately and automatically be terminated and the Notes, all interest on the Notes, and all other amounts payable under this Agreement Obligations shall immediately and automatically become and be due and payable in full, without presentment, demand, protest or any notice of any kind (including, without limitation, any notice of intent to accelerate or notice of acceleration), all of which are hereby expressly waived by the BorrowerBorrower and the Guarantors.

Appears in 1 contract

Samples: Senior Secured Term Loan Agreement (Seritage Growth Properties)

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Automatic Acceleration of Maturity. If any Event of Default pursuant to paragraph (fe) of Section 9.01 7.1 shall occur, the obligation of the each Lender to make Advances shall immediately and automatically be terminated and the Notesall Obligations, including all interest on the Notesinterest, and all other amounts payable under this Agreement shall immediately and automatically become and be due and payable in full, without presentment, demand, protest or any notice of any kind (including, without limitation, including any notice of intent to accelerate or notice of acceleration), all of which are hereby expressly waived by the Borrower.

Appears in 1 contract

Samples: 364 Day Credit Agreement (National Oilwell Varco Inc)

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