Common use of Termination; Acceleration Clause in Contracts

Termination; Acceleration. Upon the occurrence and during the continuation of any Event of Default, without further order of, application to, or action by, the Bankruptcy Court and without limiting any other right or remedy, at the direction of the Required Lenders, the Administrative Agent may by written notice to the Borrower and the Committee in accordance with Section 10.2 (a) declare that all or any portion of the Term Loan Commitment be terminated, whereupon the obligation of the Lenders to make Loans shall immediately terminate, and (b) declare the Loans, the PIK Interest Notes, all accrued interest thereon and all other amounts and Obligations payable under this Agreement to be forthwith due and payable, whereupon the Loans, the PIK Interest Notes, all such interest and all such amounts and Obligations shall become and be forthwith due and payable, without presentment, demand, protest or further notice of any kind, all of which are hereby expressly waived by the Borrower.

Termination; Acceleration. Upon the termination of the Investment Agreement (other than as a result of a Borrower Termination Event) or the occurrence and during the continuation of any Event of Default, without further order of, application to, or action by, the Bankruptcy Court and without limiting any other right or remedy, at the direction of the Required LendersLender may, the Administrative Agent may by written notice to the Borrower and the Committee in accordance with Section 10.2 10.2, (a) declare that all or any portion of the Term Loan Commitment be terminated, whereupon the obligation of the Lenders Lender to make Loans shall immediately terminate, and (b) declare the Loans, the PIK Interest NotesNote, all accrued interest thereon and all other amounts and Obligations payable under this Agreement and the Notes to be forthwith due and payable, whereupon the Loans, the PIK Interest NotesNote, all such interest and all such amounts and Obligations shall become and be forthwith due and payable, without presentment, demand, protest or further notice of any kind, all of which are hereby expressly waived by the Borrower.