Common use of Acceleration of the Obligations Clause in Contracts

Acceleration of the Obligations. Without in any way limiting the right of Lender to demand payment of any portion of the Obligations payable on demand in accordance with Section 3.2 hereof, upon or at any time after the occurrence of an Event of Default, all or any portion of the Obligations shall, at the option of Lender and without presentment, demand, protest, notice of intent to accelerate, notice of acceleration, or any other further notice by Lender, become at once due and payable and Borrower shall forthwith pay to Lender, the full amount of such Obligations; provided, however, that upon the occurrence of an Event of Default specified in Section 10.1.10 hereof, all of the Obligations shall become automatically due and payable without declaration, notice or demand by Lender.

Appears in 2 contracts

Samples: Loan and Security Agreement (Black Warrior Wireline Corp), Loan and Security Agreement (Black Warrior Wireline Corp)

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Acceleration of the Obligations. Without in any way limiting the right of Lender to demand payment of any portion of the Obligations payable on demand in accordance with Section 3.2 3.1 hereof, upon or at any time after the occurrence of an Event of Default, all or any portion of the Obligations shall, at the option of Lender and without presentment, demand, protest, protest notice of intent to accelerate, notice of acceleration, or any other further notice by LenderLender except to the extent notice is expressly provided for in this Agreement, become at once due and payable and Borrower shall forthwith pay to Lender, the full amount of such Obligations; , provided, however, that upon the occurrence of an Event of Default specified in Section 10.1.10 9.1,4 hereof, all of the Obligations shall become automatically due and payable without declaration, notice or demand by Lender.

Appears in 1 contract

Samples: Loan and Security Agreement (Jayhawk Acceptance Corp)

Acceleration of the Obligations. Without in any way limiting the right of Lender to demand payment of any portion of the Obligations payable on demand in accordance with Section 3.2 hereof, upon or at any time after the occurrence of an Event of Default, all or any portion of the Obligations shall, at the option of Lender and without presentment, demand, protest, notice of intent to accelerate, notice of acceleration, or any other further notice by Lender, become at once due and payable and Borrower shall forthwith pay to Lender, the full amount of such Obligations; provided, however, that upon the occurrence of an Event of Default specified in Section 10.1.10 10.1.9 hereof, all of the Obligations shall become automatically due and payable without declaration, notice or demand by Lender.

Appears in 1 contract

Samples: Loan and Security Agreement (Bayard Drilling Technologies Inc)

Acceleration of the Obligations. Without in any way limiting the right of Lender to demand payment of any portion of the Obligations payable on demand in accordance with Section 3.2 hereof, upon or at any time after upon the occurrence and during the continuance of an Event of Default, all or any portion of the Obligations shall, at the option of Lender and without presentment, demand, protest, notice of intent to accelerate, notice of acceleration, demand protest or any other further notice by Lender, become at once due and payable and Borrower Borrowers shall forthwith pay to Lender, the full amount of such Obligations; , provided, however, that upon the occurrence of an Event of Default specified in Section 10.1.10 11.1.10 hereof, all of the Obligations shall become automatically due and payable without declaration, notice or demand by Lender.

Appears in 1 contract

Samples: Loan and Security Agreement (United Industrial Corp /De/)

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Acceleration of the Obligations. Without in any way limiting the right of Lender to demand payment of any portion of the Obligations payable on demand in accordance with Section 3.2 hereof, upon or at any time after the occurrence and during the continuance of an Event of Default, all or any portion of the Obligations shall, at the option of Lender and without presentment, demand, protest, notice of intent to accelerate, notice of acceleration, protest or any other further notice by Lender, become at once due and payable and Borrower shall forthwith pay to Lender, Lender the full amount of such Obligations; , provided, however, that upon the occurrence of an Event -------- of Default specified in Section 10.1.10 9.1.8 hereof, all of the Obligations shall become automatically due and payable without declaration, notice or demand by Lender.

Appears in 1 contract

Samples: Loan and Security Agreement (Moore Medical Corp)

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