Default, Maturity, etc Sample Clauses

Default, Maturity, etc. Upon the earlier of the Maturity Date and the Administrative Agent declaring the Obligations to be due and payable pursuant to section 10.2, and notwithstanding the expiration date of any outstanding Letters of Credit issued under the Credit Facility, an amount equal to the Face Amount of all outstanding Letters of Credit under the Credit Facility, and all accrued and unpaid fees owing by the Borrower in respect of the Issuance of such Letters of Credit pursuant to section 5.6, if any, shall thereupon forthwith become due and payable by the Borrower to the Administrative Agent and, except for any amount payable in respect of unpaid fees as aforesaid, such amount shall be held in a cash collateral account by the Administrative Agent and invested in Cash Equivalents as security to provide for or to secure payment of the amounts payable under such Letters of Credit in respect of any drawing thereunder. The Borrower shall pay to the Administrative Agent the aforesaid amount in respect of both any Letter of Credit outstanding hereunder and any Letter of Credit which is the subject matter of any order, judgment, injunction or other such determination (in this section 5.9, a “Judicial Order”) restricting payment by the Fronting Lender under and in accordance with such Letter of Credit or extending the Fronting Lender’s liability under such Letter of Credit beyond the expiration date stated therein. Payment in respect of each such Letter of Credit shall be due in the currency in which such Letter of Credit is stated to be payable. Subject to section 2.5(5), the Administrative Agent shall with respect to each such Letter of Credit, upon the later of:
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Default, Maturity, etc. Upon the earlier of:
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Default, Maturity, etc. Upon the earlier of the Converted Term Maturity Date and the Agent declaring the Obligations to be due and payable pursuant to Section 13.2, and notwithstanding the expiration date of any outstanding Letters of Credit, an amount equal to the face amount of all outstanding Letters of Credit, and all accrued and unpaid fees owing by the Borrower in respect of the issuance of such Letters of Credit, if any, shall thereupon forthwith become due and payable by the Borrower to the Agent for the benefit of the Operating Lender and, except for any amount payable in respect of unpaid fees as aforesaid, such amount shall be held in a trust account kept by the Agent and applied against amounts payable under such Letters of Credit in respect of any drawing thereunder. Upon the drawing by any beneficiary under any outstanding Letter of Credit, an amount equal to the amount drawn by such beneficiary shall, and all accrued and unpaid fees owing by the Borrower in respect of the issuance of such Letters of Credit, if any, shall, thereupon forthwith become due and payable by the Borrower to the Agent for the benefit of the Operating Lender. Notwithstanding the foregoing, the Operating Lender having at such time outstanding Letters of Credit, shall have the option, but not the obligation, subject to availability, to cause a Drawdown by way of a Prime Rate Loan or a U.S. Base Rate Loan, having regard to the currency of the applicable Letter of Credit, under the Operating Facility, in an amount not to exceed the amount which has become due and payable under the applicable Letter of Credit, to be held in a trust account kept by the Operating Lender and applied against amounts payable under such Letters of Credit in respect of any drawing thereunder.
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Default, Maturity, etc. Upon the earlier of the Maturity Date of the Letter of Credit and an Acceleration, and notwithstanding the expiration date of any outstanding Letters of Credit, an amount equal to the undrawn face amount of all outstanding Letters of Credit, and all accrued and unpaid fees owing by the Borrower in respect of the issuance of such Letters of Credit pursuant to Section 10.6, if any, shall thereupon forthwith become due and payable by the Borrower to the Agent for the benefit of the Operating Facility Lender and, except for any amount payable in respect of unpaid fees as aforesaid, such amount shall be held in a trust account kept by the Agent and applied against amounts payable under such Letters of Credit in respect of any drawing thereunder.
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Related to Default, Maturity, etc

  • Final Maturity Date 19 Fitch .....................................................................................19

  • Extension of Maturity Date (a) On any anniversary of the Closing Date prior to the Maturity Date, the Borrowers may request to extend the then-applicable Maturity Date (the “Existing Maturity Date”) for an additional one-year period (an “Extension Period”) to the date that is one year after the Existing Maturity Date (the “Requested Maturity Date”); provided that the Borrowers may extend the Maturity Date for a maximum two (2) such Extension Periods. The Borrowers may make such request in a notice given as herein provided and substantially in the form attached hereto as Exhibit 2.8(a) (the “Extension of Maturity Date Request”) to the Administrative Agent not less than 30 days and not more than 90 days prior to any anniversary of the Closing Date, so long as (i) each of the representations and warranties contained in Section 7 and in the other Credit Documents shall be true and correct in all material respects on and as of the date of such notice and as of the commencement date of the relevant Extension Period as if made on and as of each date (or, if any such representation and warranty is expressly stated to have been made as of a specific date, as of such specific date) and (ii) no Default or Event of Default shall have occurred and be continuing on the date of such notice and as of the commencement date of the relevant Extension Period. Each Lender, acting in its sole discretion, shall, not later than a date 30 days after its receipt of any such notice from the Administrative Agent, notify the Borrowers and the Administrative Agent in writing of its election to extend or not to extend the Existing Maturity Date with respect to its Commitment. Any Lender which shall not timely notify the Borrowers and the Administrative Agent of its election to extend the Existing Maturity Date shall be deemed not to have elected to extend the Existing Maturity Date with respect to its Commitment (any Lender who timely notifies the Borrowers and the Administrative Agent of an election not to extend or fails to timely notify the Borrowers and the Administrative Agent of its election being referred to as a “Terminating Lender” and all such Lenders, collectively, the “Terminating Lenders”). The election of any Lender to agree to a requested extension shall not obligate any other Lender to agree to such requested extension.

  • Payment on Maturity Date Borrower shall pay to Lender on the Maturity Date the outstanding principal balance of the Loan, all accrued and unpaid interest and all other amounts due hereunder and under the Note, the Mortgage and the other Loan Documents.

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