Common use of Continuing Defaults Clause in Contracts

Continuing Defaults. With respect to each Existing Event of Default, each Credit Party acknowledges that (a) such Existing Event of Default is continuing and has not been waived by virtue of any previous actions (or failure to act) by Agent or Lenders through any course of conduct or course of dealing or otherwise and (b) as a result of the existence of each such Existing Event of Default, Agent and Lenders have the right to, among other things, (i) immediately terminate the Commitments, (ii) declare the Loans (with accrued interest thereon) and all other Obligations to be immediately due and payable, and (iii) exercise any and all other rights and remedies available to Agent and Lenders under the Credit Agreement and the Loan Documents.

Continuing Defaults. With respect to each Existing the Specified Event of Default, each Credit Loan Party acknowledges that (a) such Existing the Specified Event of Default is continuing and has not been waived by virtue of any previous actions (or failure to act) by Administrative Agent or Lenders through any course of conduct or course of dealing or otherwise and (b) as a result of the existence of each such Existing the Specified Event of Default, Administrative Agent and Lenders have the right to, among other things, (i) immediately terminate the Commitments, (ii) declare the Loans Loan (with accrued interest thereon) and all other Obligations to be immediately due and payable, payable and (iii) exercise any and all other rights and remedies available to Administrative Agent and Lenders under the Credit Loan Agreement and the other Loan Documents.