Common use of Effect of Event of Default Clause in Contracts

Effect of Event of Default. If any Event of Default described in Section 6.01(c) shall occur, the Commitments (if they have not theretofore terminated) shall immediately terminate and all Loans and all other amounts payable hereunder shall become immediately due and payable, all without notice of any kind; and in the case of any other Event of Default, the Agent may (and upon written request of the Required Lenders shall) declare the Commitments (if they have not theretofore terminated) to be terminated and all Loans and all other amounts payable hereunder to be immediately due and payable, whereupon the Commitments (if they have not theretofore terminated) shall immediately terminate and all Loans and all other amounts payable hereunder shall become immediately due and payable, all without notice of any kind. The Agent shall promptly advise the Borrower and each Lender of any such declaration. Notwithstanding the foregoing, the effect as an Event of Default of any event described in Section 6.01(a) or Section 6.01(c) may be waived by the written consent of all the Lenders and the effect as an Event of Default of any other event described in this Article VI may be waived by the written consent of the Required Lenders.

Appears in 2 contracts

Sources: 364 Day Bridge Competitive Advance and Revolving Credit Facility Agreement (Lee Sara Corp), 364 Day Competitive Advance and Revolving Credit Facility Agreement (Lee Sara Corp)

Effect of Event of Default. If any Event of Default described in Section 6.01(c8.01(e) shall occur, the Commitments (if they have not theretofore terminated) shall immediately terminate Loans and all Loans the Note and all other amounts payable hereunder Obligations shall become immediately due and payablepayable and the Commitments shall be terminated, all without notice of any kind; and and, in the case of any other Event of Default, the Administrative Agent may (may, and upon the written request of the Required Lenders shall) declare , terminate the Commitments (if they have not theretofore terminated) to be terminated hereunder and declare all or any portion of the Loans and all or such portion of the Note and all other amounts payable hereunder Obligations to be immediately due and payable, whereupon the Commitments (if they have not theretofore terminated) Commitment shall immediately terminate and all or such portion of the Loans and all or such portion of the Note and all other amounts payable hereunder Obligations shall become immediately due and payable, all without further notice of any kind. The Administrative Agent shall promptly advise the Borrower and each Lender of any such declaration but failure to do so shall not impair the effect of such declaration. Notwithstanding the foregoing, the effect as an Event of Default of any event described in Section 6.01(a) or Section 6.01(c8.01(a) may not be waived except by the written consent of all of the Lenders and the effect as an Event of Default of any other event described in this Article VI may be waived by the written consent of the Required Lenderswriting.

Appears in 2 contracts

Sources: Credit Agreement (Horace Mann Educators Corp /De/), Credit Agreement (Horace Mann Educators Corp /De/)

Effect of Event of Default. If any Event of Default described in Section 6.01(c) 12.1.3 shall occuroccur and be continuing, the Commitments (if they have not theretofore terminated) shall immediately terminate and all Loans and all other amounts payable hereunder Liabilities shall become immediately due and payable, all without presentment, demand, protest or notice of any kind; and and, in the case of any other Event of Default, the Administrative Agent may (and or shall, upon the written request of the Required Lenders shallBanks) declare the Commitments (if they have not theretofore terminated) to be terminated and all Loans and all other amounts payable hereunder Liabilities to be immediately due and payable, whereupon the Commitments (if they have not theretofore terminated) shall immediately terminate and all Loans and all other amounts payable hereunder Liabilities shall become immediately due and payable, all without presentment, demand, protest or notice of any kind. The Administrative Agent shall promptly advise the Borrower and each Lender Bank of any such declaration, but failure to do so shall not impair the effect of such declaration. Notwithstanding the foregoingforegoing or any provision of Section 15.1, the effect as an Event of Default of any event described in Section 6.01(a) or Section 6.01(c) 12.1.3 may be waived by the written consent concurrence of all the Lenders Banks holding 100% of the aggregate unpaid principal amount of the Loans, and the effect as an Event of Default of any other event described in this Article VI Section 12 may be waived by the written consent of the Required Lendersas provided in Section 15.1.

Appears in 2 contracts

Sources: Credit Agreement (Conseco Inc Et Al), Credit Agreement (Conseco Inc)

Effect of Event of Default. If any Event of Default described in Section 6.01(c6.01(d) with respect to any Borrower shall occur, the Commitments (if they have not theretofore terminatedterminated pursuant to Section 2.12 or otherwise) shall immediately terminate and all Loans and all other amounts payable hereunder Swingline Loans shall become immediately due and payable, all without notice of any kind; and and, in the case of any other Event of Default, the General Administrative Agent may (and shall, upon written request of the Required Lenders shall) Lenders, declare the Commitments or the unused portions thereof (if they have not theretofore terminatedterminated pursuant to or otherwise) to be terminated and all Loans and all other amounts payable hereunder to be immediately due and payableterminated, whereupon the Commitments or the unused portions thereof (if they have not theretofore terminatedterminated pursuant to or otherwise) shall immediately terminate terminate, and all the General Administrative Agent shall, upon written request of Lenders holding more than 50% of the Total Outstanding Amount, declare the outstanding Loans and Swingline Loans to be due and payable, whereupon all other amounts payable hereunder such Loans and Swingline Loans shall become immediately due and payable, all without notice of any kind. The Agent shall promptly advise the Borrower and each Lender of any such declaration. Notwithstanding the foregoing, the effect as an Event of Default of any event described in Section 6.01(a) or Section 6.01(c) may be waived by the written consent of all the Lenders and the effect as an Event of Default of any other event described in this Article VI may be waived by the written consent of the Required Lenders.

Appears in 2 contracts

Sources: Credit Agreement (Ryerson Inc.), Credit Agreement (Ryerson Tull Inc /De/)

Effect of Event of Default. If any Event of Default described in Section 6.01(c) 12.1.3 shall occuroccur with respect to the Company, the Commitments (if they have not theretofore terminated) shall immediately terminate and all the Commitments shall be reduced to zero and the Loans and all other amounts payable obligations hereunder shall become immediately due and payable, all without presentment, demand, protest or notice of any kind; and in the case of and, if any other Event of DefaultDefault shall occur and be continuing, the Administrative Agent may (and upon written request of the Required Lenders shallLenders) shall declare the Commitments (if they have not theretofore terminated) to be terminated and and/or declare all Loans and all other amounts payable obligations hereunder to be immediately due and payable, whereupon the Commitments (if they have not theretofore terminated) shall immediately terminate and and/or all Loans and all other amounts payable obligations hereunder shall become immediately due and payable, all without presentment, demand, protest or notice of any kind. The Administrative Agent shall promptly advise the Borrower and each Lender Company in writing of any such declaration, but failure to do so shall not impair the effect of such declaration. Notwithstanding the foregoing, the effect as an Event of Default of any event described in Section 6.01(a) 12.1.1 or Section 6.01(c) 12.1.3 may be waived by the written consent concurrence of all of the Lenders Lenders, and the effect as an Event of Default of any other event described in this Article VI Section 12 may be waived by the written consent concurrence of the Required Lenders.

Appears in 2 contracts

Sources: Credit Agreement (Regal Rexnord Corp), Credit Agreement (Rexnord Corp)

Effect of Event of Default. If any Event of Default described in Section 6.01(c) 11.1.4 shall occur, the Commitments (if they have not theretofore terminated) shall immediately terminate and all the Loans and all other amounts payable obligations hereunder shall become immediately due and payable, all without presentment, demand, protest or notice of any kind; and in the case of and, if any other Event of DefaultDefault shall occur and be continuing, the Agent may (and upon written request of the Required Lenders shallLenders) shall declare the Commitments (if they have not theretofore terminated) to be terminated and and/or declare all Loans and all other amounts payable obligations hereunder to be immediately due and payable, whereupon the Commitments (if they have not theretofore terminated) shall immediately terminate and and/or all Loans and all other amounts payable obligations hereunder shall become immediately due and payable, all without presentment, demand, protest or notice of any kind. The Agent shall promptly advise the Borrower and each Lender Company of any such declaration, but failure to do so shall not impair the effect of such declaration. Notwithstanding the foregoing, the effect as an Event of Default of any event described in Section 6.01(a) 11.1.1 or Section 6.01(c) 11.1.4 may be waived by the written consent concurrence of all of the Lenders Lenders, and the effect as an Event of Default of any other event described in this Article VI Section 11 may be waived by the written consent concurrence of the Required LendersLenders (except as provided in Section 13.1).

Appears in 2 contracts

Sources: Credit Agreement (Penske Automotive Group, Inc.), Credit Agreement (Penske Automotive Group, Inc.)

Effect of Event of Default. If any Event of Default described in Section 6.01(c) 12.1.3 shall occuroccur with respect to the Company, the Commitments (if they have not theretofore terminated) shall immediately terminate and all the Loans and all other amounts payable obligations hereunder shall become immediately due and payable, all without presentment, demand, protest or notice of any kind; and in the case of and, if any other Event of DefaultDefault shall occur and be continuing, the Administrative Agent may (and upon written request of the Required Lenders shallBanks) shall declare the Commitments (if they have not theretofore terminated) to be terminated and and/or declare all Loans and all other amounts payable obligations hereunder to be immediately due and payable, whereupon the Commitments (if they have not theretofore terminated) shall immediately terminate and and/or all Loans and all other amounts payable obligations hereunder shall become immediately due and payable, all without presentment, demand, protest or notice of any kind. The Administrative Agent shall promptly advise the Borrower and each Lender Company in writing of any such declaration, but failure to do so shall not impair the effect of such declaration. Notwithstanding the foregoing, the effect as an Event of Default of any event described in Section 6.01(a) 12.1.1 or Section 6.01(c) 12.1.3 may be waived by the written consent concurrence of all of the Lenders Banks, and the effect as an Event of Default of any other event described in this Article VI Section 12 may be waived by the written consent concurrence of the Required LendersBanks.

Appears in 2 contracts

Sources: First Amendment and Waiver (Regal Beloit Corp), Term Loan Agreement (Regal Beloit Corp)

Effect of Event of Default. If any Event of Default described in Section 6.01(c7.1(d) shall occur, the Commitments (if they have not theretofore terminated) shall immediately terminate and all Loans and all interest and other amounts payable due hereunder shall become immediately due and payable, all without presentment, demand or notice of any kindkind (all of which are hereby expressly waived by the Borrowers); and and, in the case of any other Event of Default, the Agent may (with the consent of the Required Banks, and shall upon written request of the Required Lenders shall) Banks, declare the Commitments (if they have not theretofore terminated) to be terminated and and/or all Loans and all interest and other amounts payable due hereunder to be immediately due and payable, whereupon the Commitments (if they have not theretofore terminated) shall immediately terminate and and/or all Loans and all interest and other amounts payable due hereunder shall become immediately due and payable, all without presentment, demand or notice of any kindkind (all of which are hereby expressly waived by the Borrowers). The Agent shall promptly advise the Borrower Company and each Lender Bank of any such declaration, but failure to do so shall not impair the effect of such declaration. Notwithstanding the foregoing, the effect as an Event of Default of any event described in Section 6.01(a7.1(a) or Section 6.01(c7.1(d) may be waived by the written consent concurrence of all of the Lenders Banks, and the effect as an Event of Default of any other event described in this Article VI Section 7.1 may be waived by the written consent concurrence of the Required LendersBanks.

Appears in 2 contracts

Sources: Multicurrency Credit Agreement (Applied Power Inc), Multicurrency Credit Agreement (Applied Power Inc)

Effect of Event of Default. If any Event of Default described in Section 6.01(c) 12.1.3 shall occuroccur and be continuing, the Commitments (if they have not theretofore terminated) shall immediately and automatically terminate and all Loans and all other amounts payable hereunder Liabilities shall become immediately and automatically due and payable, all without presentment, demand, protest or notice of any kindkind which presentment, demand, protest and notice are hereby expressly waived; and and, in the case of any other Event of Default, the Administrative Agent may (and or shall, upon the written request of the Required Lenders shallLenders) declare the Commitments (if they have not theretofore terminated) to be terminated and all Loans and all other amounts payable hereunder Liabilities to be immediately due and payable, whereupon the Commitments (if they have not theretofore terminated) shall immediately terminate and all Loans and all other amounts payable hereunder Liabilities shall become immediately due and payable, all without presentment, demand, protest or notice of any kindkind (which presentment, demand, protest or notice are hereby expressly waived). The Administrative Agent shall promptly advise the Borrower and each Lender of any such declaration, but failure to do so shall not impair the effect of such declaration. Notwithstanding the foregoingforegoing or any provision of Section 15.1, the effect as an Event of Default of any event described in Section 6.01(a) or Section 6.01(c) 12.1.3 may only be waived by the written consent concurrence of all the Lenders holding 100% of the aggregate unpaid principal amount of the Loans, and the effect as an Event of Default of any other event described in this Article VI Section 12 may be waived by the written consent of the Required Lendersas provided in Section 15.1.

Appears in 2 contracts

Sources: Credit Agreement (Delphi Financial Group Inc/De), Credit Agreement (Delphi Financial Group Inc/De)

Effect of Event of Default. If any Event of Default described in Section 6.01(c12.1(f) or Section 12.1(g) shall occur, the Commitments and the Total Commitment (if they have not theretofore terminated) shall immediately and automatically terminate and all Loans Loans, all interest thereon, and all other amounts payable hereunder under this Agreement shall become immediately and automatically due and payable, all without presentment, demand, protest or notice of any kindkind (including notice of intent to accelerate), all of which are hereby expressly waived by the Borrower; and and, in the case of the occurrence of any other Event of Default, the Agent may (and Administrative Agent, upon written request of the Required Lenders shall) Majority Banks, shall declare the Commitments and the Total Commitment (if they have not theretofore terminated) to be terminated and all Loans and all other amounts payable hereunder to be immediately due and payable, whereupon the Commitments and the Total Commitment (if they have not theretofore terminated) shall immediately terminate and all Loans Loans, all interest thereon, and all other amounts payable hereunder under this Agreement shall become immediately due and payable, all without presentment, demand, protest or notice of any kindkind (including notice of intent to accelerate), all of which are hereby expressly waived by the Borrower. The Promptly following the making of any such declaration, the Administrative Agent shall promptly advise give notice thereof to the Borrower and each Lender Bank, but failure to do so shall not impair the effect of any such declaration. Notwithstanding the foregoing, the effect as an Event of Default of any event described in Section 6.01(a) or Section 6.01(c) may be waived by the written consent of all the Lenders and the effect as an Event of Default of any other event described in this Article VI may be waived by the written consent of the Required Lenders.

Appears in 2 contracts

Sources: Senior Revolving Credit Facility Agreement (Hunt J B Transport Services Inc), Senior Revolving Credit Facility Agreement (Hunt J B Transport Services Inc)

Effect of Event of Default. If any Event of Default -------------------------- described in Section 6.01(c) 14.1.3 shall occuroccur and be continuing, the Commitments (if -------------- they have not theretofore terminated) shall immediately terminate and all Loans and all other amounts payable hereunder Liabilities shall become immediately due and payable, all without notice of any kind; and and, in the case of any other Event of Default, the Agent may (and or shall, upon the written request of the Required Lenders shallLenders) declare the Commitments (if they have not theretofore terminated) to be terminated and all Loans and all other amounts payable hereunder Liabilities to be immediately due and payable, whereupon the Commitments (if they have not theretofore terminated) shall immediately terminate and all Loans and all other amounts payable hereunder Liabilities shall become immediately due and payable, all without presentment, demand, protest or notice of any kind. The Agent shall promptly advise the Borrower and each Lender of any such declaration, but failure to do so shall not impair the effect of such declaration. Notwithstanding the foregoingforegoing or any provision of Section 17.1, the ------------ effect as an Event of Default of any event described in Section 6.01(a) or Section 6.01(c) 14.1.3 may be -------------- waived by the written consent concurrence of all the Lenders Holders of 100% of the aggregate unpaid principal amount of the Loans and LC Obligations, and the effect as an Event of Default of any other event described in this Article VI Section 14 may be waived by the written consent of the Required Lenders.as ---------- provided in Section 17.1. ------------

Appears in 1 contract

Sources: Credit Agreement (Nova Corp \Ga\)

Effect of Event of Default. If any Event of Default described in Section 6.01(c) 14.1.3 shall occuroccur and be continuing, the Commitments (if they have not theretofore terminated) shall immediately terminate and all Loans and all other amounts payable hereunder Liabilities shall become immediately due and payable, all without notice notice, demand, presentment or protest of any kind; and and, in the case of any other Event of Default, the Administrative Agent may (and or shall, upon the written request of the Required Lenders shallLenders) declare the Commitments (if they have not theretofore terminated) to be terminated and all Loans and all other amounts payable hereunder Liabilities to be immediately due and payable, whereupon the Commitments (if they have not theretofore terminated) shall immediately terminate and all Loans and all other amounts payable hereunder Liabilities shall become immediately due and payable, all without presentment, demand, protest or notice of any kind. The Administrative Agent shall promptly advise the Borrower Parent and each Lender of any such declaration, but failure to do so shall not impair the effect of such declaration. Notwithstanding the foregoingforegoing or any provision of Section 17.1, the effect as declaration of an Event of Default of any event described in Section 6.01(a) or Section 6.01(c) 14.1.3 may be waived only by the written consent concurrence of all the Lenders holding 100% of the aggregate unpaid principal amount of the Loans and LC Obligations, and the effect as declaration of an Event of Default of any other event described in this Article VI Section 14 may be waived by the written consent of the Required Lendersas provided in Section 17.1.

Appears in 1 contract

Sources: Credit Agreement (Career Education Corp)

Effect of Event of Default. If any Event of Default under Section 12.1.5 hereof relating to an "Event of Default" described in Section 6.01(c12.1(g) or (h) of the Existing Credit Facility shall occur, the Commitments (if they have not theretofore terminated) shall immediately terminate and all Loans the Notes and all other amounts payable obligations hereunder shall become immediately due and payable, all without presentment, demand, protest or notice of any kind; and and, in the case of any other Event of Default, the Agent may (and upon written request of the Required Lenders Banks shall) declare the Commitments (if they have not theretofore terminated) to be terminated and and/or declare all Loans Notes and all other amounts payable obligations hereunder to be immediately due and payable, whereupon the Commitments (if they have not theretofore terminated) shall immediately terminate and and/or all Loans Notes and all other amounts payable obligations hereunder shall become immediately due and payable, all without presentment, demand, protest or notice of any kind. The Agent shall promptly advise the Borrower and each Lender Company of any such declaration, but failure to do so shall not impair the effect of such declaration. Notwithstanding the foregoing, the effect as an Event of Default of any event described in Section 6.01(a12.1.1 or 12.1.4 or in Section 12.1(g) or Section 6.01(c(h) of the Existing Credit Agreement may be waived by the written consent concurrence of all of the Lenders Banks, and the effect as an Event of Default of any other event described in this Article VI Section 12 may be waived by the written consent concurrence of the Required LendersBanks.

Appears in 1 contract

Sources: Credit Agreement (Usa Waste Services Inc)

Effect of Event of Default. If any Event of Default described in Section 6.01(c) 12.1.4 shall occur, the Commitments Commitment (if they have not theretofore terminated) shall immediately terminate and all the Loans and all other amounts payable obligations hereunder shall become immediately due and payable, all without presentment, demand, protest or notice of any kind; and in the case of and, if any other Event of DefaultDefault shall occur and be continuing, the Agent may (and upon written request of the Required Lenders shall) Bank shall declare the Commitments Commitment (if they have not theretofore terminated) to be terminated and and/or declare all Loans and all other amounts payable obligations hereunder to be immediately due and payable, whereupon the Commitments Commitment (if they have not theretofore terminated) shall immediately terminate and and/or all Loans and all other amounts payable obligations hereunder shall become immediately due and payable, all without presentment, demand, protest or notice of any kind. The Agent Bank shall promptly advise the Borrower and each Lender Company of any such declaration, but failure to do so shall not impair the effect of such declaration. Notwithstanding the foregoing, the effect as an Event of Default of any event described in Section 6.01(a) or Section 6.01(c) may be waived by the written consent of all the Lenders and the effect as an Event of Default of any other event described in this Article VI may be waived by the written consent concurrence of the Required LendersBank.

Appears in 1 contract

Sources: Credit Agreement (Navteq Corp)

Effect of Event of Default. If any Event of Default described in Section 6.01(c) 11.1.4 shall occur, the Commitments Commitment (if they have not theretofore terminated) shall immediately terminate and all Loans the Note and all other amounts payable obligations hereunder shall become immediately due and payable, payable all without presentment, demand, protest or notice of any kind; and in the case of and, if any other Event of DefaultDefault shall occur and be continuing, the Agent may (and upon written request of the Required Lenders shall) Bank shall declare the Commitments Commitment (if they have not theretofore terminated) to be terminated and all Loans and/or declare the Note and all other amounts payable obligations hereunder to be immediately due and payable, payable whereupon the Commitments Commitment (if they have not theretofore terminated) shall immediately terminate and all Loans and/or the Note and all other amounts payable obligations hereunder shall become immediately due and payable, payable all without presentment, demand, protest or notice of any kind. The Agent Bank shall promptly advise the Borrower and each Lender of any such declaration, but failure to do so shall not impair the effect of such declaration. Notwithstanding the foregoing, the effect as an Event of Default of any event described in Section 6.01(a) 11.1.1 or Section 6.01(c) 11.1.4 may be waived by the written consent concurrence of all the Lenders Bank, and the effect as an Event of Default of any other event described in this Article VI Section 11 may be waived by the written consent concurrence of the Required LendersBank.

Appears in 1 contract

Sources: Credit Agreement (Mechanical Technology Inc)

Effect of Event of Default. If any Event of Default described -------------------------- in Section 6.01(c) 12.1.4 shall occur, the Commitments (if they have not theretofore -------------- terminated) shall immediately terminate and all Loans the Notes and all other amounts payable obligations hereunder shall become immediately due and payable, all without presentment, demand, protest or notice of any kind; and in the case of any other Event of Default, the Agent may (may, and upon written request of the Required Lenders shall) , declare the Commitments (if they have not theretofore terminated) to be terminated and and/or declare all Loans Notes and all other amounts payable obligations hereunder to be immediately due and payable, whereupon the Commitments (if they have not theretofore terminated) shall immediately terminate and and/or all Loans Notes and all other amounts payable obligations hereunder shall become immediately due and payable, all without presentment, demand, protest or notice of any kind. The Agent shall promptly advise the Borrower and each Lender Company of any such declaration, but failure to do so shall not impair the effect of such declaration. Notwithstanding the foregoing, the effect as an Event of Default of any event described in Section 6.01(a) 12.1.1 or -------------- Section 6.01(c) 12.1.4 may be waived by the written consent concurrence of all of the Lenders Lenders, -------------- and the effect as an Event of Default of any other event described in this Article VI Section 12 may be waived by the written consent concurrence of the Required Lenders.. ----------

Appears in 1 contract

Sources: Credit Agreement (Global Industrial Technologies Inc)

Effect of Event of Default. If any Event of Default described in -------------------------- Section 6.01(c8.1(d) shall occur, the Commitments (if they have not theretofore terminated) shall immediately terminate and all Loans and all interest and other amounts payable due hereunder shall become immediately due and payable, all without presentment, demand or notice of any kindkind (all of which are hereby expressly waived by the Borrowers); and and, in the case of any other Event of Default, the Administrative Agent may (with the consent of the Required Banks, and shall upon written request of the Required Lenders shall) Banks, declare the Commitments (if they have not theretofore terminated) to be terminated and and/or all Loans and all interest and other amounts payable due hereunder to be immediately due and payable, whereupon the Commitments (if they have not theretofore terminated) shall immediately terminate and and/or all Loans and all interest and other amounts payable due hereunder shall become immediately due and payable, all without presentment, demand or notice of any kindkind (all of which are hereby expressly waived by the Borrowers). The Administrative Agent shall promptly advise the Borrower Borrowers and each Lender Bank of any such declaration, but failure to do so shall not impair the effect of such declaration. Notwithstanding the foregoing, the effect as an Event of Default of any event described in Section 6.01(a8.1(a) or Section 6.01(c8.1(d) may be waived by the written consent concurrence of all of the Lenders Banks, and the effect as an Event of Default of any other event described in this Article VI Section 8.1 may be waived by the written consent concurrence of the Required LendersBanks. ARTICLE IX THE ADMINISTRATIVE AGENT ------------------------

Appears in 1 contract

Sources: Credit Agreement (Applied Power Inc)

Effect of Event of Default. If any Event of Default described in Section 6.01(c) 12.1.4 shall occur, the Commitments (if they have not theretofore terminated) shall immediately terminate and all Loans the Notes and all other amounts payable obligations hereunder shall become immediately due and payable, all without presentment, demand, protest or notice of any kind; and in the case of any other Event of Default, the Administrative Agent may (may, and upon written request of the Required Lenders shall) , declare the Commitments (if they have not theretofore terminated) to be terminated and and/or declare all Loans Notes and all other amounts payable obligations hereunder to be immediately due and payable, whereupon the Commitments (if they have not theretofore terminated) shall immediately terminate and and/or all Loans Notes and all other amounts payable obligations hereunder shall become immediately due and payable, all without presentment, demand, protest or notice of any kind. The Administrative Agent shall promptly advise the Borrower and each Lender Company of any such declaration, but failure to do so shall not impair the effect of such declaration. Notwithstanding the foregoing, the effect as an Event of Default of any event described in Section 6.01(a) 12.1.1 or Section 6.01(c) 12.1.4 may be waived by the written consent concurrence of all of the Lenders Lenders, and the effect as an Event of Default of any other event described in this Article VI Section 12 may be waived by the written consent concurrence of the Required Lenders. SECTION 13 THE ADMINISTRATIVE AGENT.

Appears in 1 contract

Sources: Credit Agreement (Illinova Corp)

Effect of Event of Default. (a) If any Event of Default described in Section 6.01(c) 12.1.1 or Section 12.1.3 shall occuroccur with respect to the Company, the Commitments (if they have not theretofore terminated) shall immediately terminate and all Loans Notes (with accrued interest thereon) and all other amounts payable hereunder under this Agreement shall become immediately due and payable, all without notice of any kind; and , (b) in the case of any other Event of Default, the Administrative Agent may (and upon written request of the Required Lenders Banks shall) declare the Commitments (if they have not theretofore terminated) to be terminated and all Loans Notes, accrued interest thereon, and all other amounts payable hereunder under this Agreement to be immediately due and payable, whereupon the Commitments (if they have not theretofore terminated) shall immediately terminate and all Loans Notes (with accrued interest thereon) and all such other amounts payable hereunder shall become immediately due and payable, all without notice of any kind. The , (c) the Administrative Agent shall promptly advise the Borrower Company and each Lender Bank of any such declaration. Notwithstanding , but failure to do so shall not impair the effect of such declaration, and (d) notwithstanding the foregoing, the effect as an Event of Default of any event described in Section 6.01(a) 12.1.1 or Section 6.01(c) 12.1.3 may be waived by the written consent concurrence of all the Lenders holders of 100% of the aggregate unpaid principal amount of the Notes, and the effect as an Event of Default of any other event described in this Article VI Section 12 may be waived by the written consent concurrence of the Required LendersBanks.

Appears in 1 contract

Sources: Credit Agreement (Puget Sound Energy Inc)

Effect of Event of Default. If any Event of Default described in -------------------------- Section 6.01(c8.1(d) shall occur, the Commitments (if they have not theretofore terminated) shall immediately terminate and all Loans and all interest and other amounts payable due hereunder shall become immediately due and payable, all without presentment, demand or notice of any kindkind (all of which are hereby expressly waived by the Borrowers); and and, in the case of any other Event of Default, the Administrative Agent may (with the consent of the Required Banks, and shall upon written request of the Required Lenders shall) Banks, declare the Commitments (if they have not theretofore terminated) to be terminated and and/or all Loans and all interest and other amounts payable due hereunder to be immediately due and payable, whereupon the Commitments (if they have not theretofore terminated) shall immediately terminate and and/or all Loans and all interest and other amounts payable due hereunder shall become immediately due and payable, all without presentment, demand or notice of any kindkind (all of which are hereby expressly waived by the Borrowers). The Administrative Agent shall promptly advise the Borrower Borrowers and each Lender Bank of any such declaration, but failure to do so shall not impair the effect of such declaration. Notwithstanding the foregoing, the effect as an Event of Default of any event described in Section 6.01(a8.1(a) or Section 6.01(c8.1(d) may be waived by the written consent concurrence of all of the Lenders Banks, and the effect as an Event of Default of any other event described in this Article VI Section 8.1 may be waived by the written consent concurrence of the Required LendersBanks.

Appears in 1 contract

Sources: Multicurrency Credit Agreement (Applied Power Inc)

Effect of Event of Default. If any Event of Default described in Section 6.01(c) 12.1.3 shall occuroccur and be continuing, the Commitments (if they have not theretofore terminated) shall immediately and automatically terminate and all Loans and all other amounts payable hereunder Liabilities shall become immediately and automatically due and payable, all without presentment, demand, protest or notice of any kindkind which presentment, demand, protest and notice are hereby expressly waived; and and, in the case of any other Event of Default, the Administrative Agent may (and or shall, upon the written request of the Required Lenders shallLenders) declare the Commitments (if they have not theretofore terminated) to be terminated and all Loans and all other amounts payable hereunder Liabilities to be immediately due and payable, whereupon the Commitments (if they have not theretofore terminated) shall immediately terminate and all Loans and all other amounts payable hereunder Liabilities shall become immediately due and payable, all without presentment, demand, protest or notice of any kindkind (which presentment, demand, protest or notice are hereby expressly waived). The Administrative Agent shall promptly advise the Borrower and each Lender of any such declaration, but failure to do so shall not impair the effect of such declaration. Notwithstanding the foregoingforegoing or any provision of Section 15.1, the effect as an Event of Default of any event described in Section 6.01(a) or Section 6.01(c) 12.1.3 may be waived by the written consent concurrence of all the Lenders holding 100% of the aggregate unpaid principal amount of the Loans, and the effect as an Event of Default of any other event described in this Article VI Section 12 may be waived by the written consent of the Required Lendersas provided in Section 15.1.

Appears in 1 contract

Sources: Credit Agreement (Delphi Financial Group Inc/De)

Effect of Event of Default. If any Event of Default described in Section 6.01(c) 11.1.1 or Section 11.1.5 shall occur, the Commitments Loan (if they have not theretofore terminated) shall immediately terminate and all Loans the Note and all other amounts payable hereunder Liabilities shall become immediately due and payable, all without notice of any kind; and and, in the case of any other Event of Default, the Agent Lender may (and upon written request declare all or any portion of the Required Lenders shall) declare the Commitments Loan (if they have not theretofore terminated) to be terminated and all Loans or such portion of the Note and all other amounts payable hereunder Liabilities to be immediately due and payable, whereupon all or such portion of the Commitments Loan (if they have not theretofore terminated) shall immediately terminate and all Loans or such portion of the Note and all other amounts payable hereunder Liabilities shall become immediately due and payable, all without further notice of any kind. The Agent Lender shall promptly advise the Borrower and each Lender of any such declaration but failure to do so shall not impair the effect of such declaration. Notwithstanding the foregoing, the effect as an Event of Default of any event described in Section 6.01(a) or Section 6.01(c) 11.1 may be waived by the written consent of all the Lenders and Lender in writing, except that the effect as an Event of Default of any other event described in this Article VI Section 11.1.1 may be waived only by the written consent of the Required LendersLender.

Appears in 1 contract

Sources: Credit Agreement (Professionals Insurance Co Management Group)

Effect of Event of Default. If any Event of Default -------------------------- described in Section 6.01(c) 14.1.3 shall occuroccur and be continuing, the Commitments (if -------------- they have not theretofore terminated) shall immediately terminate and all Loans and all other amounts payable hereunder Liabilities shall become immediately due and payable, all without notice notice, demand, presentment or protest of any kind; and and, in the case of any other Event of Default, the Agent may (and or shall, upon the written request of the Required Lenders shallLenders) declare the Commitments (if they have not theretofore terminated) to be terminated and all Loans and all other amounts payable hereunder Liabilities to be immediately due and payable, whereupon the Commitments (if they have not theretofore terminated) shall immediately terminate and all Loans and all other amounts payable hereunder Liabilities shall become immediately due and payable, all without presentment, demand, protest or notice of any kind. The Agent shall promptly advise the Borrower and each Lender of any such declaration, but failure to do so shall not impair the effect of such declaration. Notwithstanding the foregoingforegoing or any provision of Section 17.1, the effect as an Event of Default of any event ------------ described in Section 6.01(a) or Section 6.01(c) 14.1.3 may be waived only by the written consent concurrence of all the -------------- Lenders holding 100% of the aggregate unpaid principal amount of the Loans and LC Obligations, and the effect as an Event of Default of any other event described in this Article VI Section 14 may be ---------- waived by the written consent of the Required Lenders.as provided in Section 17.1. ------------

Appears in 1 contract

Sources: Credit Agreement (Career Education Corp)

Effect of Event of Default. If any Event of Default described in Section 6.01(c) 12.1.4 shall occur, the Commitments (if they have not theretofore terminated) shall immediately terminate and all the Loans and all other amounts payable obligations hereunder shall become immediately due and payable, all without presentment, demand, protest or notice of any kind; and in the case of and, if any other Event of DefaultDefault shall occur and be continuing, the Agent may (and upon written request of the Required Lenders shallBanks) shall declare the Commitments (if they have not theretofore terminated) to be terminated and and/or declare all Loans and all other amounts payable obligations hereunder to be immediately due and payable, whereupon the Commitments (if they have not theretofore terminated) shall immediately terminate and and/or all Loans and all other amounts payable obligations hereunder shall become immediately due and payable, all without presentment, demand, protest or notice of any kind. The Agent shall promptly advise the Borrower and each Lender Company of any such declaration, but failure to do so shall not impair the effect of such declaration. Notwithstanding the foregoing, the effect as an Event of Default of any event described in Section 6.01(a) 12.1.1 or Section 6.01(c) 12.1.4 may be waived by the written consent concurrence of all of the Lenders Banks, and the effect as an Event of Default of any other event described in this Article VI Section 12 may be waived by the written consent concurrence of the Required LendersBanks.

Appears in 1 contract

Sources: Credit Agreement (American Capital Strategies LTD)

Effect of Event of Default. If any Event of Default described Defaultdescribed in Section 6.01(c) 12.1.3 shall occuroccur and be continuing, the Commitments (if they have not theretofore terminated) shall immediately terminate and all Loans and all other amounts payable hereunder Liabilities shall become immediately due and payable, all without notice of any kind; and and, in the case of any other Event of Default, the Administrative Agent may (and or shall upon the written request of the Required Lenders shallBanks) declare the Commitments (if they have not theretofore terminated) to be terminated and all Loans and all other amounts payable hereunder Liabilities to be immediately due and payable, whereupon the Commitments (if they have not theretofore terminated) shall immediately terminate and all Loans and all other amounts payable hereunder Liabilities shall become immediately due and payable, all without presentment, demand, protest or notice of any kind. The Administrative Agent shall promptly advise the Borrower and each Lender Bank of any such declaration, but failure to do so shall not impair the effect of such declaration. Notwithstanding the foregoingforegoing or any provision of Section 15.1, the effect as an Event of Default of any event described in Section 6.01(a) or Section 6.01(c) 12.1.3 may be waived by the written consent concurrence of all the Lenders Banks holding 100% of the aggregate unpaid principal amount of the Loans, and the effect as an Event of Default of any other event described in this Article VI Section 12 may be waived by the written consent of the Required Lendersas provided in Section 15.1.

Appears in 1 contract

Sources: Credit Agreement (Conseco Inc Et Al)