Common use of Acceleration and Termination of Rights Clause in Contracts

Acceleration and Termination of Rights. If any Event of Default occurs, no Lender shall be under any further obligation to make Advances and the Majority Lenders may instruct the Agent to give notice to the Borrower (i) declaring the Lenders' obligations to make Advances to be terminated, whereupon the same shall forthwith terminate, (ii) declaring the Obligations or any of them to be forthwith due and payable, whereupon they 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 the Borrower, and/or (iii) demanding that the Borrower deposit forthwith with the Agent for the Lenders' benefit Collateral equal to the full principal amount at maturity of all L/Cs and Bankers' Acceptances then outstanding for its account. Notwithstanding the preceding paragraph, if a Restricted Party becomes a bankrupt (voluntarily or involuntarily), or institutes any proceeding seeking liquidation, rearrangement, relief of debtors or creditor or the appointment of a receiver or trustee over any material part of its Property, then without prejudice to the other rights of the Lenders as a result of any such event, without any notice or action of any kind by the Agent or the Lenders, and without presentment, demand or protest, the Lenders' obligation to make Advances shall immediately terminate, the Obligations shall immediately become due and payable and the Borrower shall be obligated to deposit forthwith with the Agent for the Lenders' benefit Collateral equal to the full principal amount at maturity of all L/Cs and Bankers' Acceptances then outstanding for its account.

Acceleration and Termination of Rights. If any Event of Default occurs, no Lender shall be under any further obligation to make Advances and the Majority Required Lenders may instruct the Agent to give notice to the Borrower (i) declaring the Lenders' obligations to make Advances to be terminated, whereupon the same shall forthwith terminate, (ii) declaring the Obligations or any of them to be forthwith due and payable, whereupon they 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 the Borrower, and/or (iii) demanding that the Borrower deposit forthwith with the Agent for the Lenders' benefit Cash Collateral equal to the full principal amount at maturity of all L/Cs and Bankers' Acceptances then outstanding for its account. Notwithstanding the preceding paragraph, if a Restricted Party the Borrower becomes a bankrupt (voluntarily or involuntarily), or institutes any proceeding seeking liquidation, rearrangement, relief of debtors or creditor or the appointment of a receiver or trustee over any material part of its Propertyproperty, then without prejudice to the other rights of the Lenders as a result of any such event, without any notice or action of any kind by the Agent or the Lenders, and without presentment, demand or protest, the Lenders' obligation to make Advances shall immediately terminate, the Obligations shall immediately become due and payable and the Borrower shall be obligated to deposit forthwith with the Agent for the Lenders' benefit Cash Collateral equal to the full principal amount at maturity of all L/Cs and Bankers' Acceptances then outstanding for its account.

Acceleration and Termination of Rights. If any Event of Default occurs, no Lender shall be under any further obligation to make Advances or to accept orders as Bankers' Acceptance and the Majority Lenders may instruct the Agent to give notice to the Borrower Borrowers (i) declaring the Lenders' obligations to make Advances to be terminated, whereupon the same shall forthwith terminate, (ii) declaring the Obligations or any of them to be forthwith due and payable, whereupon they 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 the BorrowerBorrowers, and/or (iii) demanding that the each Borrower deposit forthwith with the Agent for the Lenders' benefit Collateral equal to the full principal amount at maturity of all Bankers' Acceptances and L/Cs and Bankers' Acceptances then outstanding for its account. Notwithstanding the preceding paragraphclause, if a Restricted Party becomes a bankrupt (voluntarily or involuntarily), or institutes any proceeding seeking liquidation, rearrangement, relief of debtors or creditor or the appointment of a receiver or trustee over any material part of its Property, then without prejudice to the other rights of the Lenders as a result of any such event, without any notice or action of any kind by the Agent or the Lenders, and without presentment, demand or protest, the Lenders' obligation to make Advances shall immediately terminate, the Obligations shall immediately become due and payable and the each Borrower shall be obligated to deposit forthwith with the Agent for the Lenders' benefit Collateral equal to the full principal amount at maturity of all Bankers' Acceptances and L/Cs and Bankers' Acceptances then outstanding for its account.

Acceleration and Termination of Rights. If any During the continuance of an Event of Default occursDefault, no Lender shall be under any further obligation to make Advances or to accept orders as Bankers' Acceptance and the Majority Global Lenders may instruct the Agent to give notice to the Borrower (i) declaring the Lenders' obligations to make Advances to be terminated, whereupon the same shall forthwith terminate, (ii) declaring the Obligations or any of them to be forthwith due and payable, whereupon they 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 the Borrower, and/or (iii) demanding that the Borrower deposit forthwith with the Agent for the Lenders' benefit Collateral equal to the full principal amount at maturity of all Bankers' Acceptances and L/Cs and Bankers' Acceptances then outstanding for its account. Notwithstanding the preceding paragraph, if a Restricted Party becomes a bankrupt (voluntarily or involuntarily), or institutes any proceeding seeking liquidation, rearrangement, relief there is an Event of debtors or creditor or the appointment of a receiver or trustee over any material part of its PropertyDefault under 9.1(e) hereof, then without prejudice to the other rights of the Lenders as a result of any such event, without any notice or action of any kind by the Agent or the Lenders, and without presentment, demand or protest, the Lenders' obligation to make Advances shall immediately terminate, the Obligations shall immediately become due and payable and the Borrower shall be obligated to deposit forthwith with the Agent for the Lenders' benefit Collateral equal to the full principal amount at maturity of all Bankers' Acceptances and L/Cs and Bankers' Acceptances then outstanding for its account.

Acceleration and Termination of Rights. If any Event of Default occurs, no the Lender shall not be under any further obligation to make Advances or to accept drafts or bills of exchange as Bankers' Acceptances or issue L/C's and the Majority Lenders Lender may instruct the Agent to give notice to the Borrower (i) declaring the Lenders' Lender's obligations to make Advances to be terminated, whereupon the same shall forthwith terminate, (ii) declaring the Obligations or any of them to be forthwith due and payable, whereupon they 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 the Borrower, and/or (iii) demanding that the Borrower deposit forthwith with the Agent Lender for the Lenders' Lender's benefit Collateral equal to the full principal amount at maturity of all L/Cs and Bankers' Acceptances and L/C's , then outstanding for its the Borrower's account. Notwithstanding the preceding paragraph, if a Restricted Party the Borrower becomes a bankrupt (voluntarily or involuntarily), or institutes any proceeding seeking liquidation, rearrangement, monitorship relief of debtors or creditor creditors or the appointment of a receiver or trustee over any material part of its Property, then without prejudice to the other rights of the Lenders Lender as a result of any such event, without any notice or action of any kind by the Agent or the LendersLender, and without presentment, demand or protest, the Lenders' Lender's obligation to make Advances shall immediately terminate, the Obligations shall immediately become due and payable and the Borrower shall be obligated to deposit forthwith with the Agent Lender for the Lenders' Lender's benefit Collateral equal to the full principal amount at of maturity of all Banker's Acceptances and L/Cs and Bankers' Acceptances C's then outstanding for its the Borrower's account.

Acceleration and Termination of Rights. If any Event of Default occurs, no Lender shall be under any further obligation to make Advances or to accept orders as Bankers' Acceptance and the Majority Required Lenders may instruct the Agent to give notice to the Borrower Borrowers (i) declaring the Lenders' obligations to make Advances to be terminated, whereupon the same shall forthwith terminate, (ii) declaring the Obligations or any of them to be forthwith due and payable, whereupon they 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 the BorrowerBorrowers, and/or (iii) demanding that the each Borrower deposit forthwith with the Agent for the Lenders' benefit Cash Collateral equal to the full principal amount at maturity of all Bankers' Acceptances and L/Cs and Bankers' Acceptances then outstanding for its account. Notwithstanding the preceding paragraphclause, if a Restricted Party an Obligor becomes a bankrupt (voluntarily or involuntarily), or institutes any proceeding seeking liquidation, rearrangement, relief of debtors or creditor or the appointment of a receiver or trustee over any material part of its Property, then without prejudice to the other rights of the Lenders as a result of any such event, without any notice or action of any kind by the Agent or the Lenders, and without presentment, demand or protest, the Lenders' obligation to make Advances shall immediately terminate, the Obligations shall immediately become due and payable and the each Borrower shall be obligated to deposit forthwith with the Agent for the Lenders' benefit Cash Collateral equal to the full principal amount at maturity of all Bankers' Acceptances and L/Cs and Bankers' Acceptances then outstanding for its account.

Acceleration and Termination of Rights. If any Event of Default occursoccurs and is continuing, no the Lender shall be under any no further obligation to make Advances and the Majority Lenders Lender may instruct the Agent to give notice to the Borrower (i) declaring the Lenders' obligations Lender's obligation to make Advances to be terminated, whereupon the same shall forthwith terminate, (ii) declaring the Obligations or any of them to be forthwith due and payable, whereupon they 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 the Borrower, Borrower and/or (iii) demanding that the Borrower immediately deposit forthwith Cash Collateral with the Agent for the Lenders' benefit Collateral Lender in an amount equal to the full principal amount at maturity of all L/Cs and Bankers' Acceptances then outstanding for its the Borrower's account. Notwithstanding the preceding paragraph, if a Restricted Party any Obligor becomes a bankrupt (voluntarily or involuntarily), or institutes any proceeding seeking liquidation, rearrangement, relief of debtors or creditor creditors or the appointment of a receiver or trustee over any material part of its Property, then without prejudice to the other rights of the Lenders Lender as a result of any such event, without any notice or action of any kind by the Agent or the LendersLender, and without presentment, demand or protest, the Lenders' Lender's obligation to make Advances shall immediately terminate, the Obligations shall immediately become due and payable and and, to the extent permitted by law, the Borrower shall be obligated to immediately deposit forthwith Cash Collateral with the Agent for the Lenders' benefit Collateral Lender in an amount equal to the full principal amount at maturity of all L/Cs and Bankers' Acceptances then outstanding for its the Borrower's account.

Acceleration and Termination of Rights. If any Event of Default occursoccurs and is continuing, no the Lender shall be under any no further obligation to make Advances and the Majority Lenders Lender may instruct the Agent to give notice to the Borrower (i) declaring the Lenders' obligations Lender’s obligation to make Advances to be terminated, whereupon the same shall forthwith terminate, (ii) declaring the Obligations or any of them to be forthwith due and payable, whereupon they 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 the Borrower, Borrower and/or (iii) demanding that the Borrower immediately deposit forthwith Cash Collateral with the Agent for the Lenders' benefit Collateral Lender in an amount equal to the full principal amount at maturity of all L/Cs and Bankers' Acceptances then outstanding for its accountthe Borrower’s accounts. Notwithstanding the preceding paragraph, if a Restricted Party any Obligor becomes a bankrupt (voluntarily or involuntarily), or institutes any proceeding seeking liquidation, rearrangement, relief of debtors or creditor creditors or the appointment of a receiver or trustee over any material part of its Property, then without prejudice to the other rights of the Lenders Lender as a result of any such event, without any notice or action of any kind by the Agent or the LendersLender, and without presentment, demand or protest, the Lenders' Lender’s obligation to make Advances shall immediately terminate, the Obligations shall immediately become due and payable and and, to the extent permitted by law, the Borrower shall be obligated to immediately deposit forthwith Cash Collateral with the Agent for the Lenders' benefit Collateral Lender in an amount equal to the full principal amount at maturity of all L/Cs and Bankers' Acceptances then outstanding for its accountthe Borrower’s accounts.