Consequences of an Event of Default. 8.1 The Borrower agrees and acknowledges that the decision of the Lender shall be final and binding on any questions or issues on point in respect of happening/non-happening of the Event of Default. Following are the consequences upon occurrence of an Event of Default: (i) Notwithstanding anything contrary contained in the Financing Documents, upon happening of any Event of Default, Lender, by a written notice to the Borrower may declare the Outstanding Obligations and/or any other amounts including Interest, bouncing charges and Default Interest which may be payable by the Borrower under or in terms of the Financing Documents and/or any other agreements, documents subsisting between the Borrower and the Lender, to be due and upon such notice the same shall become due and payable forthwith. Further, the Default Interest to be borne by the Borrower shall be computed from the respective EMI Payment Date and shall be compounded on monthly basis; (ii) the Lender upon happening of Event of Default shall have right but no obligation to communicate, in any manner it may deem fit, to or with any person(s) with a view to receiving assistance of such person(s) in recovering the defaulted amounts including but not limited to visiting the office /residence of the Borrower and/or any place of work of the Borrower; (iii) The Lender shall have the right to modify the Repayment Schedule as mentioned in the Sanction Letter in the manner as it deems fit; (iv) In addition to the rights specified in this Terms, the Lender or its representatives including assignees shall be entitled to take all or any action with or without intervention of the courts to recover all the dues payable by the Borrower under the Financing Documents without limited to initiate civil or criminal proceeding including action under Negotiable Instruments Act, 1881 and/or Payment and Settlement Systems Act 2007 or any other appropriate actions against the Borrower, if Lender at its sole discretion has sufficient grounds to believe that the Borrower has made any misrepresentations and /or submitted any forged documents or fabricated data to the Lender or ECS mandate/PDC has bounced on its presentation to the Specified Account;
Consequences of an Event of Default. (a) If an Event of Default specified in subsections (a) through (l), (o), (p) or (q) of Section 7.01 shall occur and, be continuing or shall exist, then, in addition to all other rights and remedies which the Administrative Agent or any Lender may have hereunder or under any other Loan Document, at law, in equity or otherwise, the Lenders shall be under no further obligation to make Loans hereunder, and the Administrative Agent may, and, upon the written request of the Required Lenders shall, by notice to the Borrower, from time to time do any or all of the following:
Consequences of an Event of Default. If an Event of Default specified in Section 6.01 shall occur and continue after the expiration of applicable notice and grace periods, if any, set forth therein, Creditor may, by notice to Borrower, declare the unpaid principal amount of the Note and all other amounts owing by Borrower hereunder or under the Note or the other Loan Documents to be immediately due and payable without presentment, demand, protest or further notice of any kind, all of which are hereby expressly waived, and an action therefor shall immediately accrue.
Consequences of an Event of Default. If an Event of Default specified in Section 7.01 hereof shall occur and be continuing, the Purchaser may take one or more of the following actions at any time and from time to time (regardless of whether the actions are taken at the same or different times):
Consequences of an Event of Default. Notwithstanding anything to the contrary in this Agreement or any other agreement/s or documents, upon the occurrence of an Event of Default, unless such Event of Default at the request of the Borrower/s is expressly waived by the Lender, upon declaration of an Event of Default by the Lender, the Lender may, by a written notice to the Borrower/s:
Consequences of an Event of Default. (a) If an Event of Default specified in subsections (c) through (m) of Section 7.01 of this Agreement occurs, the Issuing Banks and the Banks will be under no further obligation to make Loans or issue Letters of Credit and may at the option of the Majority Banks (i) demand the unpaid principal amount of the Notes, interest accrued on the unpaid principal amount thereof and all other amounts owing by the Borrower under this Agreement, the Notes and the other Loan Documents to be immediately due and payable without presentment, protest or further demand or notice of any kind, all of which are expressly waived, and an action for any amounts due shall accrue immediately; and (ii) require the Borrower to, and the Borrower shall thereupon, deposit in a non-interest bearing account with the Agent, as cash collateral for its obligations under the Loan Documents, an amount equal to one hundred five percent (105%) of the Letter of Credit Reserve, and the Borrower hereby pledges to the Agent and the Banks, and grants to the Agent for the benefit of the Banks a security interest in such account and all such cash as security for such obligations of the Borrower.
Consequences of an Event of Default. On and at any time after the occurrence of an Event of Default which is continuing the Lenders may (in their absolute discretion), by notice to the Borrower:
Consequences of an Event of Default. (a) If an Event of Default specified in subsections (a) through (h) of Section 7.01 of this Agreement and subsections (a) through (n) of Section 7.01 of the Existing Loan Agreement occurs and continues or exists, the Lender will be under no further obligation to make Loans and may demand the unpaid principal amount of the Notes, interest accrued on the unpaid principal amount and all other amounts owing by the Borrowers under this Agreement, the Notes and the other Loan Documents to be immediately due and payable without presentment, demand, protest or further notice of any kind, all of which are expressly waived, and an action for any amounts due shall accrue immediately.
Consequences of an Event of Default. (a) If an Event of Default specified in any subsection of Section 7.1 (other than subsection (n) and (o)) shall occur and be continuing or shall exist, then, in addition to all other rights and remedies which the Lender may have hereunder or under any other Loan Document, at law, in equity or otherwise, the Lender shall be under no further obligation to make Loans or issue Letters of Credit hereunder, and the Lender may by notice to the Credit Parties, from time to time do any or all of the following:
Consequences of an Event of Default. If any Event of Default shall occur and be continuing or shall exist, Lender shall be under no further obligation to make Advances hereunder, any remaining commitment hereunder shall immediately terminate, with no further notice, and Lender may, by notice to Borrower, declare the unpaid principal amount of each Note, interest accrued thereon and all other amounts owing by Borrower hereunder or under each Note to be immediately due and payable without presentment, demand, protest or further notice of any kind, all of which are hereby expressly waived, and an action therefor shall immediately accrue. Such consequences shall occur automatically upon the occurrence of an Event of Default under SECTION 9.01 (h), (i), (j) OR (k), without any notice or demand. Upon the occurrence of an Event of Default, Lender may, in its sole discretion, exercise any and all remedies available to it under this ARTICLE 9 or under any of the Loan Documents or under applicable law without further notice or period of grace or opportunity to cure.
