Acceleration of Obligations; Right to Dispose of Collateral Sample Clauses
Acceleration of Obligations; Right to Dispose of Collateral. Upon the occurrence and during the continuance of an Event of Default as provided in Section 10.1 above, all of the Obligations (except Bank Product Obligations as to which all applicable notice and cure periods shall have to have elapsed) due from Borrowers to Agent and Lenders, at the option of Agent (or at the direction of the Majority Lenders), and upon written notice thereof to Borrowers by Agent or any Lender, shall accelerate and become at once due and payable and the Commitments shall immediately terminate; Borrowers shall forthwith pay to Agent, in addition to any and all sums and charges due, the entire principal of and accrued interest on the Notes and all other Obligations; provided, however, that upon the occurrence of any Event of Default described in Section 10.1(e), the Commitments shall automatically and immediately terminate and all Obligations shall automatically become immediately due and payable without notice or demand of any kind. Agent thereupon shall have all the rights and remedies of a secured party under the Code and all other legal and equitable rights to which it may be entitled, and Agent may and shall, at the direction of the Majority Lenders, take such action as is required under Section 12.5 hereof. If not previously delivered to Agent, Agent shall also have the right to require Borrowers to assemble the Collateral, at Borrowers’ expense, and make it available to Agent at a place designated by Agent, and Agent shall have the right to take immediate possession of the Collateral and may enter any of the premises of Borrowers or wherever the Collateral shall be located, with or without force or process of law, and to keep and store the same on said premises until sold and if said premises are the property of Borrowers, Borrowers agree not to charge Agent for storage thereof for a period of at least ninety (90) days after the sale or disposition of the Collateral. Borrowers waive the right to require the filing of any undertaking or bond to obtain any such process of law. Ten (10) days’ notice to Borrowers of any public or private sale or other disposition of Collateral shall be reasonable notice thereof and such sale shall be at such location(s) as Agent shall designate in said notice. The Agent may sell and deliver any Collateral at public or private sales, for cash, upon credit or otherwise, at such prices and upon such terms as the Majority Lenders deem advisable, in their discretion, and may, if the Agent deems it reasona...
Acceleration of Obligations; Right to Dispose of Collateral. If an Event of Default under Section 8.1(f) of this Agreement shall occur, then the Obligations shall, automatically and
Acceleration of Obligations; Right to Dispose of Collateral. If an Event of Default under Section 8.1(f) of this Agreement shall occur, then the Obligations shall, automatically and without notice or demand by the Lender, become at once due and payable, and the Debtor will forthwith pay to the Lender, in addition to any and all sums and charges otherwise due in respect of the Obligations, the entire principal of and interest accrued on and the Inventory Note. If any other Event of Default shall occur, all of the Obligations shall, at the option of the Lender, and without notice or demand by the Lender, become at once due and payable, and the Debtor will forthwith pay to the Lender, in addition to any and all sums and charges otherwise due in respect of the Obligations, the entire principal of and interest accrued on the Inventory Note . The Lender shall have all the rights and remedies of a secured party under the Colorado Uniform Commercial Code, all the rights and remedies of a beneficiary under the Inventory Deed of Trust
Acceleration of Obligations; Right to Dispose of Collateral. (i) If an Event of Default under Section 8.1(e) of this Agreement shall occur, then the Obligations shall, automatically and without notice or demand by the Administrative Agent or the Lenders, become at once due and payable and all Commitments shall at once terminate, and GSRP will forthwith pay to the Lenders, in addition to any and all sums and charges otherwise due in respect of the Obligations, the entire principal of and interest accrued on the Notes together with, to the extent permitted by law, a Prepayment Premium in respect thereof (other than in respect of the Jordan Bowl Obligations, the Attitash Obligations, the Killington Obligations and the Mt. Snow Obligation in respect of which no Prepayment Premium shall be payable). If any other Event of Default shall occur, (A) all of the Steamboat Obligations shall, at the option of the Steamboat Required Lenders, and without notice or demand by the Administrative Agent or the Steamboat Lenders, become at once due and payable and all Steamboat Construction Project Advance Commitments and Steamboat Inventory Advance Commitments shall at once terminate, and GSRP will forthwith pay to the Steamboat Construction Project Advance Lenders or Steamboat Inventory Advance Lenders, as the case may be, in addition to any and all sums and charges otherwise due in respect of the Steamboat Obligations, the entire principal of and interest accrued on the Steamboat Construction Project Advance Notes or Steamboat Inventory Advance Notes, as the case may be, together with, to the extent permitted by law, a Prepayment Premium in respect of the Steamboat Obligations; (B) all of the Canyons Obligations shall, at the option of the Canyons Required Lenders, and without notice or demand by the Administrative Agent or the Canyons Lenders, become at once due and payable and all Canyons Construction Project Advance Commitments and Canyons Inventory Advance Commitments shall at once terminate, and GSRP will forthwith pay to the Canyons Construction Project Advance Lenders or Canyons Inventory Advance Lenders, as the case may be, in addition to any and all sums and charges otherwise due in respect of the Canyons Obligations, the entire principal of and interest accrued on the Canyons Construction Project Advance Notes or Canyons Inventory Advance Notes, as the case may be, together with, to the extent permitted by law, a Prepayment Premium in respect of the Canyons Obligations; (C) all of the *Sugarbush Obligations shall, at the op...