Common use of Acceleration and Demand Clause in Contracts

Acceleration and Demand. Upon the occurrence of any Event of Default that has not been cured within the timelines set out herein, the Lender by written notice to the Borrower (an “Acceleration Notice”) shall be entitled to: a) declare the Loan and the right of the Borrower to apply for further Advances to be terminated; and b) declare all Obligations (whether matured or unmatured, drawn or undrawn) of the Borrower to the Lender (including, without limitation, the all unpaid fees whether or not deemed earned) to be immediately due and payable (or to be due and payable at such later time as may be stated in such notice) without further demand, presentation, protest or other notice of any kind, all of which are expressly waived by Borrower; but upon the occurrence of an Event of Default specified in Section 5.1(a), the Loan shall automatically terminate and all Obligations specified in Section I shall automatically become due and payable, in each case without any requirement that notice be given to the Borrower. Immediately upon the occurrence of an Event of Default specified in Section 5.1 or at the time stated in an Acceleration Notice, the Borrower shall pay to the Lender all amounts owing or payable in respect of all Obligations of such Borrower specified in Section I, failing which all rights and remedies of the Lender under the Documents, at law, in equity or otherwise shall thereupon become enforceable and shall be enforced by the Lender.

Acceleration and Demand. Upon the occurrence of any Event of Default that which has not been cured within the timelines set out hereinremedied or waived, the Lender Agent may on behalf of the Lenders, and shall if so required by the Majority Lenders, by written notice to the Borrower (an “the "Acceleration Notice”) shall be entitled to:"): (a) declare the Loan Total Commitment and each Lender's Commitment and the right of the Borrower to apply for further Advances Accommodations to be terminated; and (b) declare all Obligations indebtedness and liabilities (whether matured or unmatured, drawn or undrawn) of the Borrower outstanding to the Lender Lenders hereunder (including, without limitation, including the face amount of all unpaid fees whether or not deemed earnedBankers' Acceptances and the amount of all BA Equivalent Advances and the undrawn amount of all outstanding Letters of Credit) to be immediately due and payable (or to be due and payable at such later time as may be stated in such notice) without further demand, presentation, protest or other notice of any kind, all of which are expressly waived by the Borrower; but upon the occurrence of an Event of Default specified in Section 5.1(a)Insolvency Event, the Loan Total Commitment shall automatically terminate and all Obligations indebtedness and liabilities specified in Section I 9.2(b) shall automatically become due and payable, in each case without any requirement that notice be given to the Borrower. Immediately upon the occurrence of an Insolvency Event of Default specified in Section 5.1 or at the time stated in an Acceleration Notice, the Borrower shall pay to the Agent on behalf of each Lender all amounts owing or payable in respect of all Obligations of such Borrower indebtedness and liabilities specified in Section I9.2(b), failing which all rights and remedies of the Lender Lenders and the Agent under the Documents, at law, in equity or otherwise Loan Documents shall thereupon become enforceable and shall be enforced by the LenderAgent in accordance with the determinations of the Majority Lenders.

Acceleration and Demand. Upon the occurrence of any Event of Default that which has not been cured within the timelines set out hereinremedied or waived as provided in Section 11.12, the Lender Agent shall, if so required by the Majority Lenders, by written notice to the Borrower (an “"Acceleration Notice”) shall be entitled to:"): (a) declare the Loan Total Commitment and each Lender's Commitment and the right of the Borrower to apply for further Advances Accommodations to be terminated; and (b) declare all Obligations indebtedness and liabilities (whether matured or unmatured, drawn or undrawn) of the Borrower outstanding to the Lender (including, without limitation, the all unpaid fees whether or not deemed earned) Lenders hereunder to be immediately due and payable (or to be due and payable at such later time as may be stated in such notice) without further demand, presentation, protest or other notice of any kind, all of which are expressly waived by Borrowerthe Borrower and Petro-Canada; but upon the occurrence of an Event of Default specified in Section 5.1(aSections 9.1(c) or 9.1(d), the Loan Total Commitment shall automatically terminate and all Obligations indebtedness and liabilities specified in Section I 9.2(b) shall automatically become due and payable, in each case without any requirement that notice be given to the BorrowerBorrower or Petro-Canada. Immediately upon the occurrence of an Event of Default specified in Section 5.1 9.1(c) or 9.1(d), or at the time stated in an Acceleration Notice, the Borrower shall pay to the Agent on behalf of each Lender all amounts owing or payable in respect of all Obligations of such Borrower indebtedness and liabilities specified in Section I9.2(b), failing which all rights and remedies of the Lender Lenders and the Agent under the Documents, at law, in equity or otherwise Loan Documents shall thereupon become enforceable and shall be enforced by the LenderAgent in accordance with the determinations of the Majority Lenders.

Acceleration and Demand. Upon the occurrence of any Event of Default that has not been cured within the timelines set out herein, the Lender by written notice to the Borrower (an “Acceleration Notice”) shall be entitled entitled, without requiring leave of the Court, to: a) declare the Loan and the right of the Borrower to apply for further Advances advances to be terminated; and b) declare all Obligations (whether matured or unmatured, drawn or undrawn) of the Borrower to the Lender (including, without limitation, the all unpaid fees whether or not deemed earned) to be immediately due and payable (or to be due and payable at such later time as may be stated in such notice) without further demand, presentation, protest or other notice of any kind, all of which are expressly waived by Borrower; but upon the occurrence of an Event of Default specified in Section 5.1(a), the Loan shall automatically terminate and all Obligations specified in Section I shall automatically become due and payable, in each case without any requirement that notice be given to the Borrower. Immediately upon the occurrence of an Event of Default specified in Section 5.1 or at the time stated in an Acceleration Notice, the Borrower shall pay to the Lender all amounts owing or payable in respect of all Obligations of such Borrower specified in Section I, failing which all rights and remedies of the Lender under the Documents, at law, in equity or otherwise shall thereupon become enforceable and shall be enforced by the Lender.

Acceleration and Demand. Upon the occurrence of any Event of Default that which has not been cured within the timelines set out hereinremedied or waived as provided in Section 11.12, the Lender Agent shall, if so required by the Majority Lenders, by written notice to the Borrower (an “"Acceleration Notice”) shall be entitled to:"): (a) declare the Loan Total Commitment and each Lender's Commitment and the right of the Borrower to apply for further Advances Accommodations to be terminated; and (b) declare all Obligations indebtedness and liabilities (whether matured or unmatured, drawn or undrawn) of the Borrower outstanding to the Lender Lenders hereunder (including, without limitation, including the face amount of all unpaid fees whether or not deemed earnedBankers' Acceptances and the undrawn amount of all outstanding Letters of Credit) to be immediately due and payable (or to be due and payable at such later time as may be stated in such notice) without further demand, presentation, protest or other notice of any kind, all of which are expressly waived by the Borrower; but upon the occurrence of an Event of Default specified in Section 5.1(aSections 9.1(c) or 9.1(d), the Loan Total Commitment shall automatically terminate and all Obligations indebtedness and liabilities specified in Section I 9.2(b) shall automatically become due and payable, in each case without any requirement that notice be given to the Borrower. Immediately upon the occurrence of an Event of Default specified in Section 5.1 9.1(c) or 9.1(d), or at the time stated in an Acceleration Notice, the Borrower shall pay to the Agent on behalf of each Lender all amounts owing or payable in respect of all Obligations of such Borrower indebtedness and liabilities specified in Section I9.2(b), failing which all rights and remedies of the Lender Lenders and the Agent under the Documents, at law, in equity or otherwise Loan Documents shall thereupon become enforceable and shall be enforced by the LenderAgent in accordance with the determinations of the Majority Lenders.

Acceleration and Demand. Upon the occurrence of any Event of Default that which has not been cured within the timelines set out hereinremedied or waived, the Lender Agent may on behalf of the Lenders and shall if so required by the Majority Lenders by written notice to the Borrower (an the “Acceleration Notice”) shall be entitled to:): (a) declare the Loan Total Commitment and each Lender’s Commitment and the right of the Borrower to apply for further Advances Accommodations to be terminated; and (b) declare all Obligations indebtedness and liabilities (whether matured or unmatured, drawn or undrawn) of the Borrower outstanding to the Lender Lenders hereunder (including, without limitation, including the face amount of all unpaid fees whether or not deemed earnedBankers’ Acceptances and the amount of all BA Equivalent Advances) to be immediately due and payable (or to be due and payable at such later time as may be stated in such notice) without further demand, presentation, protest or other notice of any kind, all of which are expressly waived by the Borrower; but upon the occurrence of an Event of Default specified in Section 5.1(a)Insolvency Event, the Loan Total Commitment shall automatically terminate and all Obligations indebtedness and liabilities specified in Section I 9.2(b) shall automatically become due and payable, in each case without any requirement that notice be given to the Borrower. Immediately upon the occurrence of an Insolvency Event of Default specified in Section 5.1 or at the time stated in an Acceleration Notice, the Borrower shall pay to the Agent on behalf of each Lender all amounts owing or payable in respect of all Obligations of such Borrower indebtedness and liabilities specified in Section I9.2(b), failing which all rights and remedies of the Lender Lenders and the Agent under the Documents, at law, in equity or otherwise Loan Documents shall thereupon become enforceable and shall be enforced by the LenderAgent in accordance with the determinations of the Majority Lenders.

Acceleration and Demand. Upon the occurrence of any Event of Default that which has not been cured within the timelines set out hereinremedied or waived, the Lender Agent may on behalf of the Lenders, and shall if so required by the Majority Lenders, by written notice to the Borrower (an the “Acceleration Notice”) shall be entitled to:): (a) declare the Loan Total Commitment and each Lender’s Commitment and the right of the Borrower to apply for further Advances Accommodations to be terminated; and (b) declare all Obligations indebtedness and liabilities (whether matured or unmatured, drawn or undrawn) of the Borrower outstanding to the Lender Lenders hereunder (including, without limitation, including the face amount of all unpaid fees whether or not deemed earnedBankers’ Acceptances and the amount of all BA Equivalent Advances and the undrawn amount of all outstanding Letters of Credit) to be immediately due and payable (or to be due and payable at such later time as may be stated in such notice) without further demand, presentation, protest or other notice of any kind, all of which are expressly waived by the Borrower; but upon the occurrence of an Event of Default specified in Section 5.1(a)Insolvency Event, the Loan Total Commitment shall automatically terminate and all Obligations indebtedness and liabilities specified in Section I 9.2(b) shall automatically become due and payable, in each case without any requirement that notice be given to the Borrower. Immediately upon the occurrence of an Insolvency Event of Default specified in Section 5.1 or at the time stated in an Acceleration Notice, the Borrower shall pay to the Agent on behalf of each Lender all amounts owing or payable in respect of all Obligations of such Borrower indebtedness and liabilities specified in Section I9.2(b), failing which all rights and remedies of the Lender Lenders and the Agent under the Documents, at law, in equity or otherwise Loan Documents shall thereupon become enforceable and shall be enforced by the LenderAgent in accordance with the determinations of the Majority Lenders.

Acceleration and Demand. Upon the occurrence of any Event of Default that which has not been cured within the timelines set out hereinremedied or waived, the Lender Agent may on behalf of the Lenders and shall if so required by the Majority Lenders by written notice to the Borrower (an the “Acceleration Notice”) shall be entitled to:): (a) declare the Loan Total Commitment and each Lender’s Commitment and the right of the Borrower to apply for further Advances Accommodations to be terminated; and (b) declare all Obligations indebtedness and liabilities (whether matured or unmatured, drawn or undrawn) of the Borrower outstanding to the Lender Lenders hereunder (including, without limitation, including the face amount of all unpaid fees whether or not deemed earnedBankers’ Acceptances and the amount of all BA Equivalent Advances and the undrawn amount of all outstanding Letters of Credit) to be immediately due and payable (or to be due and payable at such later time as may be stated in such notice) without further demand, presentation, protest or other notice of any kind, all of which are expressly waived by the Borrower; but upon the occurrence of an Event of Default specified in Section 5.1(a)Insolvency Event, the Loan Total Commitment shall automatically terminate and all Obligations indebtedness and liabilities specified in Section I 9.2(b) shall automatically become due and payable, in each case without any requirement that notice be given to the Borrower. Immediately upon the occurrence of an Insolvency Event of Default specified in Section 5.1 or at the time stated in an Acceleration Notice, the Borrower shall pay to the Agent on behalf of each Lender all amounts owing or payable in respect of all Obligations of such Borrower indebtedness and liabilities specified in Section I9.2(b), failing which all rights and remedies of the Lender Lenders and the Agent under the Documents, at law, in equity or otherwise Loan Documents shall thereupon become enforceable and shall be enforced by the LenderAgent in accordance with the determinations of the Majority Lenders.

Acceleration and Demand. Upon the occurrence of any Event of Default that has not been cured within the timelines set out herein, the Lender by written notice to the Borrower (an “Acceleration Notice”) shall be entitled to: a) declare the Loan and the right of the Borrower to apply for further Advances to be terminated; and b) declare all Obligations (whether matured or unmatured, drawn or undrawn) of the Borrower to the Lender (including, without limitation, the all unpaid fees whether or not deemed earned) to be immediately due and payable (or to be due and payable at such later time as may be stated in such notice) without further demand, presentation, protest or other notice of any kind, all of which are expressly waived by Borrower; but upon the occurrence of an Event of Default specified in Section 5.1(a), the Loan shall automatically terminate and all Obligations specified in Section I shall automatically become due and payable, in each case without any requirement that notice be given to the Borrower. Immediately upon the occurrence of an Event of Default specified in Section 5.1 or at the time stated in an Acceleration Notice, the Borrower shall pay to the Lender all amounts owing or payable in respect of all Obligations of such Borrower specified in Section I, failing which all rights and remedies of the Lender under the Documents, at law, in equity or otherwise shall thereupon become enforceable and shall be enforced by the Lender.. [this space intentionally left blank]

Acceleration and Demand. Upon the occurrence of any Event of Default that which has not been cured within the timelines set out hereinremedied or waived, the Lender Agent may on behalf of the Lenders, and shall if so required by the Majority Lenders, by written notice to the Borrower (an “the "Acceleration Notice”) shall be entitled to:"): (a) declare the Loan Total Commitment and each Lender's Commitment and the right of the Borrower to apply for further Advances Accommodations to be terminated; and (b) declare all Obligations indebtedness and liabilities (whether matured or unmatured, drawn or undrawn) of the Borrower outstanding to the Lender Lenders hereunder (including, without limitation, including the face amount of all unpaid fees whether or not deemed earnedBankers' Acceptances and the amount of all BA Equivalent Advances and the undrawn amount of all outstanding Letters of Credit) to be immediately due and payable (or to be due and payable at such later time as may be stated in such notice) without further demand, presentation, protest or other notice of any kind, all of which are expressly waived by the Borrower; but upon the occurrence of an Event of Default specified in Section 5.1(a)Insolvency Event, the Loan Total Commitment shall automatically terminate and all Obligations indebtedness and liabilities specified in Section I 10.2(b) shall automatically become due and payable, in each case without any requirement that notice be given to the Borrower. Immediately upon the occurrence of an Insolvency Event of Default specified in Section 5.1 or at the time stated in an Acceleration Notice, the Borrower shall pay to the Agent on behalf of each Lender all amounts owing or payable in respect of all Obligations of such Borrower indebtedness and liabilities specified in Section I10.2(b), failing which all rights and remedies of the Lender Lenders and the Agent under the Documents, at law, in equity or otherwise Loan Documents shall thereupon become enforceable and shall be enforced by the LenderAgent in accordance with the determinations of the Majority Lenders.