Acceleration and Termination. Upon the occurrence of any Event of Default described in Sections 11.1(f) or 11.1(g) with respect to the Borrower, the Revolving Credit Commitments shall automatically and immediately terminate and the unpaid principal amount of, and any and all accrued interest on, the Obligations and all accrued fees shall automatically become immediately due and payable, without presentment, demand, or protest or other requirements of any kind (including, without limitation, valuation and appraisement, diligence, presentment, notice of intent to demand or accelerate and of acceleration), all of which are hereby expressly waived by the Borrower and each Qualified Borrower; and upon the occurrence and during the continuance of any other Event of Default, the Administrative Agent shall at the request, or may with the consent, of the Requisite Lenders, by written notice to the Borrower, (i) declare that the Revolving Credit Commitments are terminated, whereupon the Revolving Credit Commitments and the obligation of each Lender to make any Loan hereunder and of each Lender to issue or participate in any Letter of Credit not then issued shall immediately terminate, and/or (ii) declare the unpaid principal amount of and any and all accrued and unpaid interest on the Obligations to be, and the same shall thereupon be, immediately due and payable, without presentment, demand, or protest or other requirements of any kind (including, without limitation, valuation and appraisement, diligence, presentment, notice of intent to demand or accelerate and of acceleration), all of which are hereby expressly waived by the Borrower and each Qualified Borrower. In addition, upon the occurrence and during the continuance of any Event of Default, the Borrower shall deposit cash collateral with the Administrative Agent in accordance with the provisions of Section 3.4, in an amount equal to the then Letter of Credit Obligations.
Acceleration and Termination. Upon the occurrence and during the continuance of an Event of Default, Agent, at the direction of the Required Lenders, shall take any or all of the following actions, without prejudice to the rights of Agent or any Lender to enforce its claims against Borrower:
Acceleration and Termination. If any Event of Default shall have occurred and be continuing, the Owner Trustee shall, at the written direction of the Majority, (i) declare the obligation of the Trust to increase the amounts drawable under the Master Letter of Credit by designating additional Fleet Letters of Credit as Designated Letters of Credit and to renew current Designated Letters of Credit to be terminated, and send to Waste Management and Fleet a Notice of No Further Designation, and (ii) declare all outstanding Reimbursement Obligations, all Interest Payment Obligations and all other amounts payable hereunder to be forthwith due and payable, whereupon such Reimbursement Obligations, all such Interest Payment Obligations and all such amounts shall become and be forthwith due and payable, without presentment, demand, protest, or further notice of any kind, all of which are hereby expressly waived by Waste Management; provided, however, that in the event of an actual or deemed entry of an order for relief with respect to Waste Management or any of its Subsidiaries under the Bankruptcy Code, (A) the obligation of the Trust to increase the amounts drawable under the Master Letter of Credit by designating additional Fleet Letters of Credit as Designated Letters of Credit or to renew Interest Payment Obligations existing Designated Letters of Credit shall automatically be terminated and (B) the outstanding Reimbursement Obligations, all Interest Payment Obligations and all such amounts shall automatically become and be due and payable, without presentment, demand, protest or any notice of any kind, all of which are hereby expressly waived by Waste Management. The Owner Trustee shall not be deemed to have knowledge of an Event of Default unless it receives written notice thereof.
Acceleration and Termination. Upon the occurrence of any Event of Default described in SECTIONS 9.01(f) or 9.01(g), the unpaid principal amount of, and any and all accrued interest on, the Obligations and all accrued fees shall automatically become immediately due and payable, without presentment, demand, or protest or other requirements of any kind (including, without limitation, valuation and appraisement, diligence, presentment, notice of intent to demand or accelerate and of acceleration), all of which are hereby expressly waived by the Issuer; and upon the occurrence and during the continuance of any other Event of Default, the Majority Holders may, by written notice to the Issuer, declare the unpaid principal amount of and any and all accrued and unpaid interest on the Obligations to be, and the same shall thereupon be, immediately due and payable, without presentment, demand, or protest or other requirements of any kind (including, without limitation, valuation and appraisement, diligence, presentment, notice of intent to demand or accelerate and of acceleration), all of which are hereby expressly waived by the Issuer.
Acceleration and Termination. Upon the occurrence of any Event of Default described in Section 10.1(f) or 10.1
Acceleration and Termination. Upon the occurrence and during the continuance of an Event of Default, Lender may take any or all of the following actions, without prejudice to the rights of Lender to enforce its claims against Borrower:
Acceleration and Termination. 11.1 If any of the following events shall occur in respect of one Party (the "Affected Party"), the other Party may at its discretion by notice to the Affected Party declare such event to be an Acceleration Event:-
(i) failure by the Affected Party to pay principal, interest or any other sum due for payment by the Affected Party under this Agreement within ten (10) Business Days of the due date; or
(ii) the Affected Party committing any other material breach or omitting to observe in any material respect any other of the obligations accepted or undertakings given by it under this Agreement and such breach or omission continuing for more than ten (10) Business Days after the date of receipt by the Affected Party of written notice requiring such breach or omission to be remedied; or
(iii) any material debt of the Affected Party
(A) being validly declared to be due and repayable prior to the stated date of maturity thereof as a result of any material default on the part of the Affected Party (other than a default arising out of liability being contested in good faith) under the terms of the agreement or other documents evidencing or constituting such debt and such debt not being repaid or such default not being remedied or such declaration not being otherwise rescinded within ten (10) Business Days after the Affected Party has received notice of such declaration; or
(B) being not repaid within ten (10) Business Days after the date of the maturity thereof plus any applicable period of grace PROVIDED THAT for the purposes of this sub-paragraph 11.1(iii), material debt means a borrowing which represents more than ten per cent (10%) of the aggregate amount of the net interest bearing debts of the Affected Party and no failure to pay or repay or other default resulting from circumstances outside the control of the Affected Party shall be taken into account; or
(iv) a final judgement being made by a court of competent jurisdiction, or an effective resolution being passed for the winding-up of the Affected Party (save for a voluntary winding-up for the purpose of an amalgamation or reconstruction) or the occurrence of any similar event in any appropriate jurisdiction; or
(v) a receiver being appointed or an encumbrancer taking possession of all or a major part of the undertaking, property or assets of the Affected Party and not being paid out or discharged within forty (40) Business Days (excluding any period during which such appointment or taking possession is bei...
Acceleration and Termination. Upon the occurrence and during the continuance of any other Event of Default, the DIP Administrative Agent shall, at the request, or may with the consent, of the Requisite DIP Lenders, declare (i) that the Commitments are terminated, whereupon the Commitments shall immediately terminate, (ii) the unpaid principal amount of, and any and all accrued interest on, the DIP Obligations and all accrued fees to be, and the same shall thereupon be, immediately due and payable; and (j)(y); (iv) set off any monies held as cash collateral and apply such amounts to the DIP Obligations; and/or (v) exercise any and all remedies under this Agreement, the DIP Collateral Documents, any other DIP Loan Document, the Orders, or under applicable law. The foregoing actions may be taken without presentment, demand, or protest or other requirements of any kind (including, without limitation, valuation and appraisement, diligence, presentment, notice of intent to demand or accelerate and of acceleration, except as may be specifically provided for herein), all of which are hereby expressly waived by the Borrowers, provided that before declaring the DIP Obligations as due and payable or realizing on any part of the DIP Collateral, the DIP Collateral Agent shall 66 have provided five (5) Business Days' prior notice of such action to each Borrower, any statutory committee and the U.S. Trustee.
Acceleration and Termination. Immediately prior to the Effective Time of the Merger (as each term is defined in that certain Agreement and Plan of Merger dated as of April 10, 2001 by and among Illinois Tool Works Inc., Xxxxxx Acquisition Inc. and Foilmark (the "MERGER AGREEMENT")), the Option shall accelerate and terminate in exchange for a cash payment by Foilmark of an amount equal to (i) the excess, if any, of (A) the price per share of Foilmark Common Stock to be paid pursuant to the tender offer to purchase all of the issued and outstanding shares of Foilmark Common Stock (the "OFFER") over (B) the exercise price per share of Foilmark Common Stock subject to the Option, multiplied by (ii) that number of shares of Foilmark Common Stock for which the Option shall not theretofore have been exercised. In the event that the Merger Agreement is terminated for any reason or the transactions contemplated thereunder are not consummated, this Agreement shall be null and void and of no further force and effect without any further action on the part of any of the parties hereto.
Acceleration and Termination. Upon the occurrence of any Event of Default described in SECTIONS 10.1(g) or 10.1(h), the Available Commitment shall automatically and immediately terminate and the unpaid principal amount of, and any and all accrued interest on, the Obligations and all accrued fees shall automatically become immediately due and payable, without presentment, demand, or protest or other requirements of any kind (including, without limitation, valuation and appraisement, diligence, presentment, notice of intent to demand or accelerate and of acceleration), all of which are hereby expressly waived by Borrower; and upon the occurrence and during the continuance of any other Event of Default, Agent shall at the request, or may with the consent, of the Requisite Lenders, by written notice to Borrower: (i) declare that the Available Commitment is terminated,
