Common use of Acceleration of Loan Clause in Contracts

Acceleration of Loan. On the service of a notice under Clause 20.2(a)(ii), the Loan, all accrued interest and all other amounts accrued or owing from the Borrower or any other Security Party under this Agreement and every other Finance Document shall become immediately due and payable or, as the case may be, payable on demand, and the Security Trustee shall forthwith be entitled to enforce the Security Interests created by this Agreement and any other Finance Document in any manner available to it and in such sequence as the Security Trustee may, in its absolute discretion, determine.

Appears in 6 contracts

Samples: Credit Agreement (Scorpio Bulkers Inc.), Credit Agreement (Scorpio Bulkers Inc.), Loan Agreement (Scorpio Tankers Inc.)

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Acceleration of Loan. On the service of a notice under paragraph (b) of Clause 20.2(a)(ii)13.2, the Loan, all accrued interest and all other amounts accrued or owing from the Borrower or any other Security Party Borrowers under this Agreement and every other Finance Document shall become immediately due and payable or, as the case may be, payable on demand, and the Security Trustee shall forthwith be entitled to enforce the Security Interests created by this Agreement and any other Finance Document in any manner available to it and in such sequence as the Security Trustee may, in its absolute discretion, determine.

Appears in 2 contracts

Samples: Loan Agreement (TBS International LTD), Loan Agreement (TBS International LTD)

Acceleration of Loan. On the service of a notice under paragraph (b) of Clause 20.2(a)(ii)14.2, the Loan, all accrued interest and all other amounts accrued or owing from the Borrower or any other Security Party Obligors under this Agreement and every other Finance Document shall become immediately due and payable or, as the case may be, payable on demand, and the Security Trustee shall forthwith be entitled to enforce the Security Interests created by this Agreement and any other Finance Document in any manner available to it and in such sequence as the Security Trustee may, in its absolute discretion, determine.

Appears in 1 contract

Samples: Loan Agreement (Oceanfreight Inc.)

Acceleration of Loan. On the service of a notice under paragraph (b) of Clause 20.2(a)(ii)17.2, the Loan, all accrued interest and all other amounts accrued or owing from the Borrower or any other Security Party under this Agreement and every other Finance Document shall become immediately due and payable or, as the case may be, payable on demand, and the Security Trustee shall forthwith be entitled to enforce the Security Interests created by this Agreement and any other Finance Document in any manner available to it and in such sequence as the Security Trustee may, in its absolute discretion, determine.

Appears in 1 contract

Samples: Loan Agreement (Ultrapetrol Bahamas LTD)

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Acceleration of Loan. On the service of a notice under Clause 20.2(a)(ii), the Loan, all accrued interest and all other amounts accrued or owing from the Borrower Borrowers or any other Security Party under this Agreement and every other Finance Document shall become immediately due and payable or, as the case may be, payable on demand, and the Security Trustee shall forthwith be entitled to enforce the Security Interests created by this Agreement and any other Finance Document in any manner available to it and in such sequence as the Security Trustee may, in its absolute discretion, determine.

Appears in 1 contract

Samples: Loan Agreement (Scorpio Tankers Inc.)

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