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 11.1(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 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) the Revolving Credit Facility and the right of the Borrower to request Borrowings and Letters of Credit under this Agreement shall immediately terminate.

Appears in 2 contracts

Samples: Loan and Security Agreement (Burke Industries Inc /Ca/), Loan and Security Agreement (Burke Industries Inc /Ca/)

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Automatic Acceleration and Termination of Facilities. Upon the occurrence of an Event of Default specified in SECTION 11.1(g11.1(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 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) the Revolving Credit Facility and the right of the Borrower to request Borrowings and Letters of Credit under this Agreement shall immediately terminate.

Appears in 1 contract

Samples: Loan and Security Agreement (Nabi /De/)

Automatic Acceleration and Termination of Facilities. Upon the occurrence of an Event of Default specified in SECTION 11.1(g12.1(G) 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 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) the Revolving Credit Facility and the right commitment of the Borrower Lenders to request Borrowings and Letters of Credit make advances thereunder or under this Agreement shall immediately terminate.

Appears in 1 contract

Samples: Loan and Security Agreement (Supreme International Corp)

Automatic Acceleration and Termination of Facilities. Upon the occurrence of an Event of Default specified in SECTION 11.1(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 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) the Revolving Credit Facility and the right of the Borrower Borrowers to request Borrowings and Letters of Credit borrowings under this Agreement shall immediately terminate.

Appears in 1 contract

Samples: Loan and Security Agreement (Kellstrom Industries Inc)

Automatic Acceleration and Termination of Facilities. Upon the occurrence of an Event of Default specified in SECTION 11.1(g13.1(G) 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 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) the Revolving Credit Facility and the right commitment of the Borrower Lenders to request Borrowings and Letters of Credit make advances thereunder or under this Agreement shall immediately terminate.

Appears in 1 contract

Samples: Loan and Security Agreement (Supreme International Corp)

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Automatic Acceleration and Termination of Facilities. Upon the occurrence of an Event of Default specified in SECTION 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 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) the Revolving Credit Facility and Equipment Acquisition Loan Facility, and the right commitment of the Borrower Lenders to request Borrowings and Letters of Credit make advances thereunder or under this Agreement Agreement, shall immediately terminate.

Appears in 1 contract

Samples: Loan and Security Agreement (Galileo Corp)

Automatic Acceleration and Termination of Facilities. Upon the occurrence of an Event of Default specified in SECTION 11.1(g11.01(g) or (h), (ih),(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 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) the Revolving Credit Facility Facility, the Term Loan and the right commitment of the Borrower Lender to request Borrowings and Letters of Credit make advances thereunder or under this Agreement shall immediately terminate.

Appears in 1 contract

Samples: Loan and Security Agreement (Ild Telecommunications Inc)

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