Common use of Automatic Acceleration and Termination of Facilities Clause in Contracts

Automatic Acceleration and Termination of Facilities. Upon the occurrence of an Event of Default specified in SECTION 13.1(g) or (h), (i) the principal of and the interest on the Loans and any Note at the time outstanding, and all other amounts owed to the Administrative Agent or the Lenders under this Agreement or any of the other Loan Documents and all other Secured Obligations, shall thereupon become due and payable without presentment, demand, protest, or other notice of any kind, all of which are expressly waived, anything in this Agreement or any of the Loan Documents to the contrary notwithstanding, and (ii) each Facility and the right of the Borrowers to request Borrowings under this Agreement shall immediately terminate.

Appears in 3 contracts

Samples: Loan and Security Agreement (Russell Corp), Loan and Security Agreement (Winsloew Furniture Inc), Loan and Security Agreement (Winston Furniture Co of Alabama Inc)

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Automatic Acceleration and Termination of Facilities. Upon the occurrence of an Event of Default specified in SECTION 13.1(g12.1(G) or (hH), (i) the principal of and the interest on the Loans and any Note at the time outstanding, and all other amounts owed to the Administrative Agent or the Lenders under this Agreement or any of the other Loan Documents and all other Secured Obligations, shall thereupon become due and payable without presentment, demand, protest, or other notice of any kind, all of which are expressly waived, anything in this Agreement or any of the Loan Documents to the contrary notwithstanding, and (ii) each Facility the Commitments and the right of the Borrowers to request Borrowings under this Agreement shall immediately terminate.

Appears in 2 contracts

Samples: Loan and Security Agreement (Heafner Tire Group Inc), Loan and Security Agreement (American Tire Distributors Inc)

Automatic Acceleration and Termination of Facilities. Upon the occurrence of an Event of Default specified in SECTION 13.1(gunder Section 10.1(e) or (hf), (i) the principal of and the accrued interest on the Loans and any Note at the time outstanding, and all other amounts owed to the Administrative Agent or the Lenders Lender under this Agreement or any of the other Loan Documents and all other Secured Obligations, shall thereupon become due and payable without presentment, demand, protest, notice of protest and non-payment, notice of default, notice of acceleration or intention to accelerate, or other notice of any kind, all of which are expressly waived, anything in this Agreement or any of the Loan Documents to the contrary notwithstanding, and (ii) each Facility and the right commitment of the Borrowers Lender to request Borrowings under this Agreement make Loans hereunder shall immediately terminate.

Appears in 2 contracts

Samples: Business Loan Agreement, Business Loan Agreement (Fuse Medical, Inc.)

Automatic Acceleration and Termination of Facilities. Upon the occurrence of an Event of Default specified in SECTION 13.1(g11.1(g) or (h), (i) the principal of and the interest on the Loans and any Note the Notes at the time outstanding, and all other amounts owed to the Administrative Agent or the Lenders Lender under this Agreement or any of the other Loan Documents and all other Secured Obligations, shall thereupon become due and payable without presentment, demand, protest, protest or other notice of any kind, all of which are expressly waived, anything in this Agreement or any of the Loan Documents to the contrary notwithstanding, and (ii) each the Revolving Credit Facility and the right commitment of the Borrowers Lender to request Borrowings make advances thereunder or under this Agreement shall immediately terminate.

Appears in 2 contracts

Samples: Loan and Security Agreement (Dataflex Corp), Loan and Security Agreement (Airport Systems International Inc)

Automatic Acceleration and Termination of Facilities. Upon the occurrence of an Event of Default specified in SECTION 13.1(gSection 12.1(g) or (h), (i) the principal of and the interest on the Loans and any Note at the time outstanding, and all other amounts owed to the Administrative Agent or the Lenders under this Agreement or any of the other Loan Documents and all other Secured Obligations, shall thereupon become due and payable without presentment, demand, protest, or other notice of any kind, all of which are expressly waived, anything in this Agreement or any of the Loan Documents to the contrary notwithstanding, and (ii) each Facility the Revolving Credit Loans and the right of the any and all Borrowers to request Borrowings borrowings under this Agreement shall immediately terminate.

Appears in 2 contracts

Samples: Loan and Security Agreement (Trism Inc /De/), Loan and Security Agreement (Trism Inc /De/)

Automatic Acceleration and Termination of Facilities. Upon the occurrence of an Event of Default specified in SECTION 13.1(gSection 11.1(g) or (h), (i) the principal of and the interest on the Loans and any the Note at the time outstanding, and all other amounts owed to the Administrative Agent or the Lenders Lender under this Agreement or any of the other Loan Documents and all other Secured Obligations, shall thereupon become due and payable without presentmentpre- sentment, demand, protest, protest or other notice of any kind, all of which are expressly waived, anything in this Agreement or any of the Loan Documents to the contrary notwithstanding, and (ii) each the Revolving Credit Facility and the right commitment of the Borrowers Lender to request Borrowings make advances thereunder or under this Agreement shall immediately terminate.

Appears in 2 contracts

Samples: Loan and Security Agreement (International Comfort Products Corp), Loan and Security Agreement (International Comfort Products Corp)

Automatic Acceleration and Termination of Facilities. Upon the occurrence of an Event of Default specified in SECTION 13.1(gSection 12.1(f) or (hg), (i) the principal of and the interest on the Loans and any Note Notes at the time outstanding, and all other amounts owed to the Administrative Agent or the Lenders under this Agreement or any of the other Loan Documents and all other Secured Obligations, shall thereupon become due and payable without presentment, demand, protest, or other notice of any kind, all of which are expressly waived, anything in this Agreement or any of the Loan Documents to the contrary notwithstanding, and (ii) each the Revolving Credit Facility and the right of the Borrowers to request Borrowings borrowings under this Agreement shall immediately terminate.

Appears in 2 contracts

Samples: Loan and Security Agreement (Collins Industries Inc), Loan and Security Agreement (Collins Industries Inc)

Automatic Acceleration and Termination of Facilities. Upon the occurrence of an Event of Default specified in SECTION 13.1(gSections 12.1(g) or (h), (i) the principal of and the interest on the Revolving Credit Loans and any Note at the time outstanding, and all other amounts owed to the Administrative Agent or the Lenders under this Agreement or any of the other Loan Documents and all other Secured Obligations, shall thereupon become immediately due and payable without presentment, demand, protest, or other notice of any kind, all of which are expressly waived, anything in this Agreement or any of the Loan Documents to the contrary notwithstanding, and (ii) each Facility any obligation of the Lenders or the Agent to make Advances or incur Letter of Credit Obligations, and the right of the Borrowers any Borrower to request Borrowings Advances or Letters of Credit under this Agreement shall immediately terminateterminate without notice.

Appears in 1 contract

Samples: Loan and Security Agreement (Tropical Sportswear International Corp)

Automatic Acceleration and Termination of Facilities. Upon the occurrence of an Event of Default specified in SECTION 13.1(gSection 12.1(g) or (h), (i) the principal of and the interest on the Loans and any Note at the time outstanding, and all other amounts owed to the Administrative Agent or the Lenders under this Agreement or any of the other Loan Documents and all other Secured Obligations, shall thereupon become due and payable without presentment, demand, protest, or other notice of any kind, all of which are expressly waived, anything in this Agreement or any of the Loan Documents to the contrary notwithstanding, and (ii) each Facility the Revolving Credit Loans and the right of the any and all Borrowers to request Borrowings Advances under this Agreement shall immediately terminate.

Appears in 1 contract

Samples: Loan and Security Agreement (Trism Inc /De/)

Automatic Acceleration and Termination of Facilities. Upon the occurrence of an Event of Default specified in SECTION 13.1(gSection 12.1(f) or (hg), (i) the principal of and the interest on the Loans and any Note the Notes at the time outstanding, and all other amounts owed to the Administrative Agent or and the Lenders under this Agreement or any of the other Loan Documents and all other Secured Obligations, shall thereupon become due and payable without presentment, demand, protest, protest or other notice of any kind, all of which are expressly waived, anything in this Agreement or any of the Loan Documents to the contrary notwithstanding, and (ii) each the Revolving Credit Facility and the right of the Borrowers to request Borrowings borrowings and Letters of Credit under this Agreement shall immediately terminate.

Appears in 1 contract

Samples: Loan and Security Agreement (Syratech Corp)

Automatic Acceleration and Termination of Facilities. Upon the occurrence of an Event of Default specified in SECTION 13.1(g11.1(g) or (h), (i) the principal of and the accrued and unpaid interest on the Loans and any Note the Notes at the time outstanding, and all other amounts owed to the Administrative Agent or the Lenders Lender under this Agreement or any of the other Loan Documents and all other Secured Obligations, shall thereupon become due and payable without presentment, demand, protest, protest or other notice of any kind, all of which are expressly waived, anything in this Agreement or any of the Loan Documents to the contrary notwithstanding, and (ii) each the Revolving Credit Facility and the right commitment of the Borrowers Lender to request Borrowings make advances thereunder or under this Agreement shall immediately terminate.

Appears in 1 contract

Samples: Loan and Security Agreement (Denali Inc)

Automatic Acceleration and Termination of Facilities. Upon the occurrence of an Event of Default specified in SECTION Section 13.1(g) or (h), (i) the principal of and the interest on the Loans and any Note at the time outstanding, and all other amounts owed to the Administrative Agent or the Lenders under this Agreement or Agreement, any of the other Loan Documents Documents, any foreign Facility Agreement and all other Secured Obligations, shall thereupon become due and payable without presentment, demand, protest, or other notice of any kind, all of which are expressly waived, anything in this Agreement or any of the Loan Documents to the contrary notwithstanding, and (ii) each the Revolving Credit Facility and the right of the Borrowers Borrower to request Borrowings under this Agreement shall immediately terminate.

Appears in 1 contract

Samples: Loan and Security Agreement (Synthetic Industries Inc)

Automatic Acceleration and Termination of Facilities. Upon the occurrence of an Event of Default specified in SECTION 13.1(g11.1(G) or OR (hH), (i) the principal of and the interest on the Loans and any Note the Notes at the time outstanding, and all other amounts owed to the Administrative Agent or and the Lenders under this Agreement or any of the other Loan Documents and all other Secured ObligationsObligations (including, without limitation, any fees accrued under ARTICLE 3) shall thereupon become due and payable without presentment, demand, protest, or other notice of any kind, all of which are expressly waived, anything in this Agreement or any of the Loan Documents to the contrary notwithstanding, and (ii) each Facility the Commitments and the right any obligation of the Borrowers Lenders to request Borrowings under this Agreement make Loans hereunder shall immediately terminate.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Synthetic Industries Inc)

Automatic Acceleration and Termination of Facilities. Upon the occurrence of an Event of Default specified in SECTION 13.1(gSection 11.01(g) or (h), (i) the principal of and the interest on the Loans and any Note the Notes at the time outstanding, and all other amounts owed to the Administrative Agent or the Lenders Lender under this Agreement or any of the other Loan Documents and all other Secured Obligations, shall thereupon become due and payable without presentment, demand, protest, protest or other notice of any kind, all of which are expressly waived, anything in this Agreement or any of the Loan Documents to the contrary notwithstanding, and (ii) each Facility the Revolving Credit Facility, the Term Loan and the right commitment of the Borrowers Lender to request Borrowings make advances thereunder or under this Agreement shall immediately terminate.

Appears in 1 contract

Samples: Loan and Security Agreement (Intellicall Inc)

Automatic Acceleration and Termination of Facilities. Upon the occurrence of an Event of Default specified in SECTION 13.1(gSection 11.1(g) or (h), (i) the principal of and the interest on the Loans and any Note the Notes at the time outstanding, and all other amounts owed to the Administrative Agent or the Lenders Lender under this Agreement or any of the other Loan Documents and all other Secured Obligations, shall thereupon become due and payable without presentment, demand, protest, protest or other notice of any kind, all of which are expressly waived, anything in this Agreement or any of the Loan Documents to the contrary notwithstanding, and (ii) each the Revolving Credit Facility and the right commitment of the Borrowers Lender to request Borrowings make advances thereunder or under this Agreement shall immediately terminate.

Appears in 1 contract

Samples: Loan and Security Agreement (Centennial Specialty Foods Corp)

Automatic Acceleration and Termination of Facilities. Upon the occurrence of an Event of Default specified in SECTION 13.1(gSection 12.1(f) or (hg), (i) the principal of and the interest on the Loans and any Note the Notes at the time outstanding, and all other amounts owed to the Administrative Agent or and the Lenders under this Agreement or any of the other Loan Documents and all other Secured Obligations, shall thereupon become due and payable without presentment, demand, protest, protest or other notice of any kind, all of which are expressly waived, anything in this Agreement or any of the Loan Documents to the contrary notwithstanding, and (ii) each the Revolving Credit Facility and the right of the Borrowers Borrower to request Borrowings borrowings and Letters of Credit under this Agreement shall immediately terminate.

Appears in 1 contract

Samples: Loan and Security Agreement (Syratech Corp)

Automatic Acceleration and Termination of Facilities. Upon the occurrence of an Event of Default specified in SECTION 13.1(g13.1(G) or (hH), (i) the principal of and the interest on the Loans and any Note at the time outstanding, and all other amounts owed to the Administrative Agent or the Lenders under this Agreement or any of the other Loan Documents and all other Secured Obligations, shall thereupon become due and payable without presentment, demand, protest, or other notice of any kind, all of which are expressly waived, anything in this Agreement or any of the Loan Documents to the contrary notwithstanding, and (ii) each the Revolving Credit Facility and the right of the Borrowers to request Borrowings under this Agreement shall immediately terminate.

Appears in 1 contract

Samples: Loan and Security Agreement (Ridgeview Inc)

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Automatic Acceleration and Termination of Facilities. Upon the occurrence of an Event of Default specified in SECTION 13.1(gSection 14.1(g) or (h), (i) the principal of and the interest on the Loans and any Note at the time outstanding, and all other amounts owed to the Administrative Agent or the Lenders under this Agreement or any of the other Loan Documents and all other Secured Obligations, shall thereupon become due and payable without presentment, demand, protest, protest or other notice of any kind, all of which are expressly waived, anything in this Agreement or any of the other Loan Documents to the contrary notwithstanding, and (ii) each the Revolving Credit Facility and the right of the Borrowers Borrower to request Borrowings borrowings under this Agreement shall immediately terminate.

Appears in 1 contract

Samples: Loan and Security Agreement (Gni Group Inc /De/)

Automatic Acceleration and Termination of Facilities. Upon the occurrence and continuation of an Event of Default specified in SECTION 13.1(g9.1(F) or (hG), (i) the unpaid principal of and the unpaid accrued interest on the Loans Loan and any the Note at the time outstanding, and all other amounts owed by the Borrower to the Administrative Agent or the Lenders Lender under this Agreement or any of the other Loan Documents and all other Secured Obligations, Note shall thereupon become due and payable without presentment, demand, protest, or other notice of any kind, all of which are expressly waived, anything in this Agreement or any of the Loan Documents Note to the contrary notwithstanding, ; and (ii) each Facility the Loan and the right of the Borrowers Borrower to request Borrowings under this Agreement borrowings hereunder shall immediately terminate.;

Appears in 1 contract

Samples: Loan Agreement (Tractor Supply Co /De/)

Automatic Acceleration and Termination of Facilities. Upon the occurrence of an Event of Default specified in SECTION 13.1(gSection 12.1(g) or (h), (i) the principal of and the interest on the Loans and any Note at the time outstanding, and all other amounts owed to the Administrative Agent or the Lenders under this Agreement or any of the other Loan Documents and all other Secured Obligations, shall thereupon become due and payable without presentment, demand, protest, or other notice of any kind, all of which are expressly waived, anything in this Agreement or any of the Loan Documents to the contrary notwithstanding, and (ii) each Facility the Commitments and the right of the Borrowers to request Borrowings under this Agreement shall immediately terminate.

Appears in 1 contract

Samples: Credit and Security Agreement (Mastec Inc)

Automatic Acceleration and Termination of Facilities. Upon the occurrence of an Event of Default specified in SECTION Section 13.1(g) or (h), (i) the principal of and the interest on the Loans and any Note at the time outstanding, and all other amounts owed to the Administrative Agent or the Lenders under this Agreement or any of the other Loan Documents and all other Secured Obligations, shall thereupon become due and payable without presentment, demand, protest, or other notice of any kind, all of which are expressly waived, anything in this Agreement or any of the Loan Documents to the contrary notwithstanding, and (ii) each ii)_the Revolving Credit Facility and the right of the Borrowers Borrower to request Borrowings borrowings under this Agreement shall immediately terminate.

Appears in 1 contract

Samples: Loan and Security Agreement (Ithaca Industries Inc)

Automatic Acceleration and Termination of Facilities. Upon the occurrence of an Event of Default specified in SECTION 13.1(gSection 12.1(g) or (h), (i) the principal of and the interest on the Loans and any Note at the time outstanding, and all other amounts owed to the Administrative Agent or the Lenders under this Agreement or any of the other Loan Documents and all other Secured Obligations, shall thereupon become due and payable without presentment, demand, protest, or other notice of any kind, all of which are expressly waived, anything in this Agreement or any of the Loan Documents to the contrary notwithstanding, and (ii) each the Revolving Credit Facility and the Capital Expenditure Loan Facility and the right of the Borrowers to request Borrowings borrowings under this Agreement shall immediately terminate.

Appears in 1 contract

Samples: Loan and Security Agreement (American Aircarriers Support Inc)

Automatic Acceleration and Termination of Facilities. Upon the occurrence of an Event of Default specified in SECTION Section 13.1(g) or (h), (i) the principal of and the interest on the Loans and any Note at the time outstanding, and all other amounts owed to the Administrative Collateral Agent or the Lenders under this Agreement or any of the other Loan Documents and all other Secured Obligations, shall thereupon become due and payable without presentment, demand, protest, or other notice of any kind, all of which are expressly waived, anything in this Agreement or any of the Loan Documents to the contrary notwithstanding, and (ii) each Facility and the right of the Borrowers to request Borrowings under this Agreement shall immediately terminate.

Appears in 1 contract

Samples: Loan and Security Agreement (Ithaca Industries Inc)

Automatic Acceleration and Termination of Facilities. Upon the occurrence of an Event of Default with respect to the Borrower specified in SECTION 13.1(g13.1(G) or (hH), (i) the principal of and the interest on the Loans and any Note at the time outstanding, and all other amounts owed to the Administrative Agent or the Lenders under this Agreement or any of the other Loan Documents and all other Secured Obligations, shall thereupon become due and payable without presentment, demand, protest, or other notice of any kind, all of which are expressly waived, anything in this Agreement or any of the Loan Documents to the contrary notwithstanding, and (ii) each the Revolving Credit Facility and the right of the Borrowers Borrower to request Borrowings borrowings under this Agreement shall immediately terminate.

Appears in 1 contract

Samples: Loan and Security Agreement (Meadowcraft Inc)

Automatic Acceleration and Termination of Facilities. Upon the occurrence of an Event of Default specified in SECTION 13.1(g12.1(g) or (h), (i) the principal of and the interest on the Loans and any Note at the time outstanding, and all other amounts owed to the Administrative Agent or the Lenders under this Agreement or any of the other Loan Documents and all other Secured Obligations, shall thereupon become due and payable without presentment, demand, protest, or other notice of any kind, all of which are expressly waived, anything in this Agreement or any of the Loan Documents to the contrary notwithstanding, and (ii) each Facility the Commitments and the right of the Borrowers to request Borrowings under this Agreement shall immediately terminate.

Appears in 1 contract

Samples: Loan and Security Agreement (Phoenix Racing Inc)

Automatic Acceleration and Termination of Facilities. Upon the occurrence of an Event of Default specified in SECTION 13.1(g13.1(G) or (hH), (i) the principal of and the interest on the Loans, the Loans and any Note at the time outstanding, and all other amounts owed to the Administrative Agent or the Lenders under this Agreement or any of the other Loan Documents and all other Secured Obligations, shall thereupon become due and payable without presentment, demand, protest, or other notice of any kind, all of which are expressly waived, anything in this Agreement or any of the Loan Documents to the contrary notwithstanding, and (ii) each the Revolving Credit Facility and the right of the Borrowers Borrower to request Borrowings borrowings under this Agreement shall immediately terminate.

Appears in 1 contract

Samples: Loan and Security Agreement (Texfi Industries Inc)

Automatic Acceleration and Termination of Facilities. Upon the occurrence of an Event of Default specified in SECTION 13.1(g12.1(G) or (hH), (i) the principal of and the interest on the Revolving Credit Loans and any Note at the time outstanding, and all other amounts owed to the Administrative Agent or the Lenders under this Agreement or any of the other Loan Documents and all other Secured Obligations, shall thereupon become immediately due and payable without presentment, demand, protest, or other notice of any kind, all of which are expressly waived, anything in this Agreement or any of the Loan Documents to the contrary notwithstanding, and (ii) each Facility any obligation of the Lenders or the Agent to make Advances or incur Letter of Credit Obligations, and the right of the Borrowers Borrower to request Borrowings Advances or Letters of Credit under this Agreement shall immediately terminateterminate without notice.

Appears in 1 contract

Samples: Loan and Security Agreement (Loehmanns Holdings Inc)

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