Common use of Acceleration and Cancellation Clause in Contracts

Acceleration and Cancellation. Upon the occurrence of an Event of Default and at any time thereafter whilst it is continuing, the Agent may (and, if so instructed by the Bank shall) by notice to the Borrower: 15.13.1 declare all or any part of any Advance to be immediately due and payable (whereupon the same shall become so payable together with accrued interest thereon and any other sums then owed by the Borrower hereunder) or declare all or any part of any Advance to be due and payable on demand of the Agent; and/or 15.13.2 declare that any undrawn portion of the Facility shall be cancelled, whereupon the same shall be cancelled and the Available Commitment of the Bank shall be reduced to zero.

Acceleration and Cancellation. Upon the occurrence of an Event of Default and or at any time thereafter whilst it if the same is still continuing, the Agent may (and, if so instructed by the Bank an Instructing Group, shall) by written notice to the Borrower: 15.13.1 (a) declare all or any part of any Advance the Term Advances to be immediately due and payable (whereupon the same shall become so due and payable together with accrued interest thereon and any other sums then owed by the Borrower hereunder) or declare all or any part of any Advance the Term Advances to be due and payable on demand of the Agent; and/or 15.13.2 (b) declare that any undrawn portion of the Term Facility shall be cancelled, whereupon the same shall be cancelled and the Available Term Commitment of the each Bank shall be reduced to zero.

Acceleration and Cancellation. Upon the occurrence of an Event of Default and at any time thereafter whilst it is continuingthereafter, the Administrative Agent may (and, if so instructed by the Bank an Instructing Group, shall) by notice to the Borrower: 15.13.1 18.16.1 declare all or any part of any Advance the Advances to be immediately due and payable (whereupon the same shall become so payable together with accrued interest thereon and any other sums then owed by the Borrower hereunder) or declare all or any part of any Advance the Advances to be due and payable on demand of the Administrative Agent; and/or 15.13.2 18.16.2 declare that any undrawn portion of the Facility shall be cancelled, whereupon the same shall be cancelled and the Available Commitment of the each Bank shall be reduced to zero.