Common use of THEREUPON Clause in Contracts

THEREUPON. (i) in the case of an Event of Default other than one referred to in clause (f), (g) or (h) of this Section 10.01 with respect to OEI, the Company or UMC Canada, the Administrative Agent may and, upon request of the Majority Lenders, shall, by notice to the Company, cancel the Commitments and/or declare the principal amount of the Loans, together with accrued interest, and all other amounts payable by the Company hereunder and under the Notes to be forthwith due and payable, whereupon such amounts shall be immediately due and payable without presentment, demand, protest, notice of intent to accelerate, notice of acceleration or other formalities of any kind, all of which are hereby expressly waived by the Company; and (ii) in the case of the occurrence of an Event of Default referred to in clause (f), (g) or (h) of this Section 10.01 with respect to OEI, the Company or UMC Canada, the Commitments shall be automatically canceled and the principal amount of the Loans, together with accrued interest, and all other amounts payable by the Company hereunder and under the Notes shall become automatically immediately due and payable without presentment, demand, protest, notice of intent to accelerate, notice of acceleration or other formalities of any kind, all of which are hereby expressly waived by the Company.

THEREUPON. (i) in the case of an Event of Default other than one referred to in clause (f), (g) or (h) of this Section 10.01 with respect to OEIthe Company, the Company OEI- Louisiana or UMC Ocean Canada, the Administrative Agent may and, upon request of the Majority Lenders, shall, by notice to the Company, cancel the Commitments and/or declare the principal amount of the Loans, together with accrued interest, and all other amounts payable by the Company hereunder and under the Notes to be forthwith due and payable, whereupon such amounts shall be immediately due and payable without presentment, demand, protest, notice of intent to accelerate, notice of acceleration or other formalities of any kind, all of which are hereby expressly waived by the Company; and (ii) in the case of the occurrence of an Event of Default referred to in clause (f), (g) or (h) of this Section 10.01 with respect to the Company, OEI, the Company -Louisiana or UMC Ocean Canada, the Commitments shall be automatically canceled and the principal amount of the Loans, together with accrued interest, and all other amounts payable by the Company hereunder and under the Notes shall become automatically immediately due and payable without presentment, demand, protest, notice of intent to accelerate, notice of acceleration or other formalities of any kind, all of which are hereby expressly waived by the CompanyCompany on its behalf and on behalf of OEI-Louisiana and Ocean Canada.

THEREUPON. (i) in the case of an Event of Default other than one referred to in clause (fe), (gf) or (hg) of this Section 10.01 with respect to OEI, the Company or UMC CanadaOEI-Louisiana, the Administrative Agent may and, upon request of the Majority Lenders, shall, by notice to the Company, cancel the Commitments and/or declare the principal amount of the Loans, together with accrued interest, and all other amounts payable by the Company hereunder and under the Notes to be forthwith due and payable, whereupon such amounts shall be immediately due and payable without presentment, demand, protest, notice of intent to accelerate, notice of acceleration or other formalities of any kind, all of which are hereby expressly waived by the CompanyCompany and OEI-Louisiana; and (ii) in the case of the occurrence of an Event of Default referred to in clause (fe), (gf) or (hg) of this Section 10.01 with respect to OEI, the Company or UMC CanadaOEI-Louisiana, the Commitments shall be automatically canceled and the principal amount of the Loans, together with accrued interest, and all other amounts payable by the Company hereunder and under the Notes shall become automatically immediately due and payable without presentment, demand, protest, notice of intent to accelerate, notice of acceleration or other formalities of any kind, all of which are hereby expressly waived by the CompanyCompany on its behalf and on behalf of OEI-Louisiana.