Common use of Automatic Defaults Clause in Contracts

Automatic Defaults. If any Event of Default referred to in Section 10.07(e), (f), (g) or (h) (solely as such clause (h) relates to Section 10.07(e), (f) or (g)) and/or 10.10 (with regard to an Event of Default (as defined in the Guaranty) under Section 10(g) or 10(h) of the Guaranty) hereof shall occur, (a) all of the Commitments and the credits hereby established shall automatically and forthwith terminate, if not theretofore terminated, and no Bank thereafter shall be under any obligation to grant any further Loan or Loans and/or issue further Letters of Credit, and (b) the principal of and interest on all Notes then outstanding, and all of Borrower’s Debt to the Banks shall thereupon become and thereafter be immediately due and payable in full (if it is not already due and payable), all without any presentment, demand or notice of any kind, all of which are hereby waived by the Borrower.

Automatic Defaults. If any Event of Default referred to in Section 10.07(e), (f10.07(f), (g) or 10.07(g), 10.07 (h) (solely as such clause (h) it relates to Section 10.07(e), (f) or (g)) and/or or 10.10 (with regard to an Event of Default (as defined in the Guaranty) under Section 10(g) or 10(h) of the Guaranty) hereof shall occur, (a) all of the Commitments and the credits hereby established shall automatically and forthwith terminate, if not theretofore terminated, and no Bank thereafter shall be under any obligation to grant any further Loan or Loans and/or issue further Letters letters of Creditcredit hereunder, and (b) the principal of and interest on all Notes then outstanding, and all of Borrower’s Debt to the Banks shall thereupon become and thereafter be immediately due and payable in full (if it is not already due and payable), all without any presentment, demand or notice of any kind, all of which are hereby waived by the Borrower.

Automatic Defaults. If any Event of Default referred to in Section 10.07(e), (f10.07(f), (g) or 10.07(g), 10.07 (h) (solely as such clause (h) it relates to Section 10.07(e), (f) or (g)) and/or or 10.10 (with regard to an Event of Default (as defined in the Guaranty) under Section 10(g10(f) or 10(h10(g) of the Guaranty) hereof shall occur, (a) all of the Commitments and the credits hereby established shall automatically and forthwith terminate, if not theretofore terminated, and no Bank thereafter shall be under any obligation to grant any further Loan or Loans and/or issue further Letters letters of Creditcredit hereunder, and (b) the principal of and interest on all Notes then outstanding, and all of Borrower’s 's Debt to the Banks shall thereupon become and thereafter be immediately due and payable in full (if it is be not already due and payable), all without any presentment, demand or notice of any kind, all of which are hereby waived by the Borrower.