Common use of Termination of Total Commitment Clause in Contracts

Termination of Total Commitment. If any one or more of the Events of Default specified in Section 15.1(g) or Section 15.1(h) shall occur, any unused portion of the credit hereunder shall forthwith terminate and each of the Lenders shall be relieved of all further obligations to make loans to the Borrower. If any other Event of Default shall have occurred and be continuing, the Agent may, and upon request of the Required Lenders shall, by notice to the Borrower, terminate the unused portion of the credit hereunder, and upon such notice being given such unused portion of the credit hereunder shall terminate immediately and each of the Lenders shall be relieved of all further obligations to make Loans. No termination of the credit hereunder shall relieve the Borrower of any of the Obligations. In addition, if any Event of Default shall have occurred and be continuing, Agent may, without notice, take any one or more of the following actions: (i) declare all or any portion of the Obligations to be forthwith due and payable, whereupon such Obligations shall become and be due and payable or (ii) exercise any rights and remedies provided to Agent and the Lenders under the Loan Documents or at law or equity, including all remedies provided under the Uniform Commercial Code; provided, that upon the occurrence of any Event of Default specified in Section 15.1(g) or Section 15.1(h), the Obligations shall become immediately due and payable without declaration, notice or demand by Lender.

Termination of Total Commitment. (a) If any one or more of the Events of Default specified in Section 15.1(g) or Section 15.1(h) shall occur, any unused portion of the credit hereunder shall forthwith terminate and each of the Lenders shall be relieved of all further obligations to make loans to the BorrowerBorrower and, to issue, extend or renew Letters of Credit. If any other Event of Default shall have occurred and be continuing, the Agent may, and upon request of the Required Lenders shall, by notice to the Borrower, terminate the unused portion of the credit hereunder, and upon such notice being given such unused portion of the credit hereunder shall terminate immediately and each of the Lenders shall be relieved of all further obligations to make Loans. No termination of the credit hereunder shall relieve the Borrower of any of the Obligations. In addition, if any Event of Default shall have occurred and be continuing, Agent may, without notice, take any one or more of the following actions: (i) declare all or any portion of the Obligations to be forthwith due and payable, whereupon such Obligations shall become and be due and payable or (ii) exercise any rights and remedies provided to Agent and the Lenders under the Loan Documents or at law or equity, including all remedies provided under the Uniform Commercial Code; provided, that upon the occurrence of any Event of Default specified in Section 15.1(g) or Section 15.1(h), the Obligations shall become immediately due and payable without declaration, notice or demand by Lender. (b) If any other Event of Default shall have occurred and be continuing, or if on any Drawdown Date or other date for issuing, extending or renewing any Letter of Credit the conditions precedent to the making of the Loans to be made on such Drawdown Date or (as the case may be) to issuing, extending or renewing such Letter of Credit on such other date are not satisfied, the Bank may, by notice to the Borrower, terminate the unused portion of the credit hereunder, and upon such notice being given such unused portion of the credit hereunder shall terminate immediately and TD Bank shall be relieved of all further obligations to issue, extend or renew Letters of Credit.