Acceleration Action definition

Acceleration Action means the taking of any action following the occurrence of an Event of Default under the relevant agreement to collect all or a portion of the Nationwide Obligations or the Lender Obligations, as the case may be, including, but not limited to, declaring all or a portion of such Obligations to be immediately due and payable, accelerating the maturity or payment date of all or a portion of such Obligations, commencing legal proceedings against the Company or RPI, as the case may be (including the filing of an involuntary bankruptcy petition against the Company or RPI), repossessing, taking possession of, foreclosing upon or otherwise exercising remedies against the Nationwide Collateral or the Lender Collateral, as the case may be, directly or otherwise exercising any rights or remedies under the Loan Documents (as defined in the Real Estate Note) or the Credit Documents (as defined in the Credit Agreement), as the case may be; provided, however, that the hiring or seeking advice of counsel, the delivery of letters short of formal demands and the like shall not constitute "Acceleration Actions".
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Acceleration Action means any Person having accelerated the maturity of the obligations under any Indebtedness or having otherwise exercised remedies with respect thereto.
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Acceleration Action has the meaning set forth in Appendix III.
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Examples of Acceleration Action in a sentence

  • Nationwide -------------------------------------------- acknowledges and agrees that upon any Acceleration Action taken by the Agent with respect to the Agent Pledge Agreement, neither the Agent nor any Lender shall be liable in any manner for any Nationwide Obligation.

  • Solely for purposes of this Section 7.4(d), a Prohibited Action or Acceleration Action is material if such action, together with other Prohibited Actions and Acceleration Actions that occurred during the applicable quarter, resulted in the payment, receipt or other direct or indirect transfer of proceeds, consideration or other amounts in excess of $35 million.


More Definitions of Acceleration Action

Acceleration Action means any action by, or on behalf of, a Creditor or any group of Creditors to declare the Secured Obligations owing to it or them to be due and payable prior to the stated date of maturity thereof due to a default by the Company with respect to such Secured Obligations under such Credit Instruments.
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Related to Acceleration Action

  • Acceleration as defined in Subsection 9.1(e).

  • Acceleration Event means the occurrence of an Event of Default (a) in respect of which Agent has declared all or any portion of the Obligations to be immediately due and payable pursuant to Section 10.2, (b) pursuant to Section 10.1(a), and in respect of which Agent has suspended or terminated the Revolving Loan Commitment pursuant to Section 10.2, and/or (c) pursuant to either Section 10.1(e) and/or Section 10.1(f).

  • Obligation Acceleration means one or more Obligations in an aggregate amount of not less than the Default Requirement have become due and payable before they would otherwise have been due and payable as a result of, or on the basis of, the occurrence of a default, event of default or other similar condition or event (however described), other than a failure to make any required payment, in respect of a Reference Entity under one or more Obligations.

  • Acceleration Date on any Security means the date, if any, on and after which the principal or any or all installments of interest, or both, are due and payable on any Security which has become accelerated pursuant to the terms of the Security.

  • Collection Action means any of the following: