Acceleration Right. (a) Promptly after the occurrence of an Event of Default, the Companies shall deliver written notice thereof via email, facsimile and overnight courier (an “Event of Default Notice”) to the Agent and the Holders. At any time after the earlier of the Agent’s and the Holders’ receipt of an Event of Default Notice and the Agent and the Holders becoming aware of an Event of Default, the Required Holders may require the Companies to redeem all or any portion of the Notes (an “Event of Default Redemption”) by delivering written notice thereof (the “Event of Default Redemption Notice”) to the Companies, which Event of Default Redemption Notice shall indicate the portion of the Notes that the Required Holders are requiring the Companies to redeem; provided, that upon the occurrence of any default or Event of Default described in Section 10.1(c) or Section 10.1(d), the Notes shall automatically, and without any action on behalf of the Agent or any Holder, be redeemed by the Companies. All Notes subject to redemption by the Companies pursuant to this Section 10.2 shall be redeemed by the Companies at a price equal to the outstanding principal amount of the Notes, plus the Yield Maintenance Premium, plus accrued and unpaid Interest and accrued and unpaid Late Charges (the “Event of Default Redemption Price”). Upon the delivery of an Event of Default Redemption Notice and upon the occurrence of any default or Event of Default described in Section 10.1(c) or Section 10.1(d), the agreement of the Buyers or Holders, as applicable, to purchase additional Notes under this Agreement and make readvances with respect to Revolving Notes shall terminate.
(b) Upon an Event of Default Redemption, the Companies shall deliver the applicable Event of Default Redemption Price to the Holders within five (5) Business Days after the Companies’ receipt of the Event of Default Redemption Notice. In the event of a redemption of less than all of the principal of the Notes, the Companies shall promptly cause to be issued and delivered to the Holders new Notes (in accordance with Section 2.7) representing the outstanding principal which has not been redeemed.
Acceleration Right. If any Event of Default shall occur, then or at any time thereafter, while such Event of default shall continue, Creditor may declare all Obligations to be due and payable, without notice, protest, presentment or demand, all of which are hereby expressly waived by Debtor.
Acceleration Right. The Purchased Asset Documents for such Senior Mortgage Loan contain provisions for the acceleration of the payment of the unpaid principal balance of such Senior Mortgage Loan if, without complying with the requirements of the related Purchased Asset Documents, (a) the related Underlying Mortgaged Property, or any controlling interest in the related Mortgagor, is directly transferred or sold in a mortgagor, issuance of non-controlling new equity interests, transfers among existing members, partners or shareholders in such Mortgagor or an Affiliate thereof, transfers among affiliated Mortgagors with respect to such Senior Mortgage Loan which are cross-collateralised or cross-defaulted with other mortgage loans or multi-property loans or transfers of a similar nature (such as pledges of ownership interests that do not result in a change of control) or a substitution or release of collateral), or (b) the related Underlying Mortgaged Property or controlling interest in the borrower is encumbered in connection with subordinate financing by a Lien against the related Underlying Mortgaged Property, other than any existing permitted additional debt or debt otherwise permitted in the Purchased Asset Documents. The Purchased Asset Documents for such Senior Mortgage Loan require the borrower to pay all reasonable costs incurred by the Mortgagor with respect to any transfer, assumption or encumbrance requiring lender’s approval.
Acceleration Right. Tenant shall have the one-time right to accelerate the Expiration Date (the “Acceleration Option”) with respect to the Acceleration Premises such that the Term shall expire and the Expiration Date shall be, with respect to the Acceleration Premises the day immediately preceding the ninety-ninth (99th) monthly anniversary of the Commencement Date (the “Accelerated Expiration Date”) upon the terms and conditions set forth in this Article. The “Acceleration Premises” means (i) the entire Premises, (ii) the Second Floor Premises, (iii) the Thirteenth Floor Premises or (iv) the Fourteenth Floor Premises.
Acceleration Right. In the event that the Early Expiry Event occurs, the Company shall have the right, but not the obligation, to exercise the Acceleration Right. In the event the Company elects to exercise the Acceleration Right, the Company shall deliver the Early Expiry Notice to the Warrant Agent and the Warrant Agent shall deliver the Early Expiry Notice to each of the Registered Warrantholders pursuant to Section 9.2 within ten
Acceleration Right. If this Agreement is terminated by the Carrier pursuant to Section 6.3, or by Shipper pursuant to Section 9.2, the Carrier shall, in good faith and in a commercially reasonable manner, determine the Acceleration Payment resulting from the termination of this Agreement. The Carrier shall give the Shipper written notice of the amount of the Acceleration Payment, stating in reasonable detail how such amount was calculated. The Carrier shall issue an invoice and Shipper shall pay such invoice within thirty (30) days of receipt of invoice. The Parties acknowledge and agree that the Acceleration Payment is a reasonable pre-estimate of the loss suffered by the Carrier in the event of termination of this Agreement, and is not a penalty. Carrier shall make reasonable efforts to re- contract the volume associated with the Acceleration Payment to another shipper. If volumes are re-contracted the Shipper shall be relieved of the obligation to pay the Acceleration Payment, to the extent of the value of the re-contracted volumes. If at the time the Carrier re-contracts the volumes the Shipper has already paid some or all of the Acceleration Payment, the Carrier shall refund to Shipper the difference between the amount paid and the value of the re-contracted volumes. The Acceleration Payment is not subject to deduction or abatement for any reason, except and only to the extent that Carrier is able to successfully re-contract the Shipper’s Service Option. Value means the present value of the re-contracted volume using a discount rate equal to the Prime Rate.
Acceleration Right. In the event that the VWAP at any time following the date of closing of the Offering is equal to or greater than $9.00 for a period of ten (10) consecutive Trading Days, the Corporation shall have the right, but not the obligation, to exercise the Acceleration Right. In the event the Corporation elects to exercise the Acceleration Right, the Corporation shall deliver the Acceleration Notice to the Warrant Agent and the Warrant Agent shall deliver the Acceleration Notice to each of the holders pursuant to Section 10.2. Upon delivery of the Acceleration Notice, Warrantholders shall have the right, but not the obligation, to exercise their Warrants pursuant to the terms set forth herein and in the Warrant Certificates. Effective as of a date that is not less than fifteen (15) Trading Days following the delivery of the Acceleration Notice to the holders pursuant to Section 10.2, all unexercised Warrants shall be terminated and of no further force or effect without any action on the part of the Corporation or the holder. The Acceleration Notice shall also be distributed by press release and an exchange bulletin of the CSE (or other applicable exchange).
Acceleration Right. If, and only if, Tenant properly exercises its Right of First Offer with respect to the Offering Space as set forth in Section IX.C. above, Tenant shall have the right to accelerate the Extended Termination Date ("Acceleration Option") with respect to the Original Premises and the Expansion Space only from March 31, 2001 to the day that is the day prior to the commencement date with respect to the Offering Space (the "Accelerated Expiration Date") as determined in Section IX.C. above, if:
1. Tenant is not in default under the Lease as amended hereby at the date Tenant provides Landlord with an Acceleration Notice (hereinafter defined);
2. no part of the Premises is sublet for a term extending past the Accelerated Expiration Date;
3. the Lease as amended hereby has not been assigned;
4. Landlord receives notice of acceleration ("Acceleration Notice") not less than 90 days prior to the Accelerated Expiration Date;
5. Tenant shall remain liable for all Base Rental, Additional Rent and other sums due under the Lease as amended hereby up to and including the Accelerated Expiration Date even though xxxxxxxx for such may occur subsequent to the Accelerated Expiration Date. If Tenant, subsequent to providing Landlord with an Acceleration Notice, defaults in any of the provisions of the Lease, as amended hereby, (including, without limitation, a failure to take possession of the Offering Space), Landlord, at its option, may (i) declare Tenant's exercise of the Acceleration Option to be null and void, or (ii) continue to honor Tenant's exercise of its Acceleration Option, in which case, Tenant shall remain liable for the payment of all Base Rental, Additional Rent and other sums due under the Lease as amended hereby on the Original Premises and the Expansion Space up to and including the Accelerated Expiration Date even though xxxxxxxx for such may occur subsequent to the Accelerated Expiration Date. Tenant's exercise of the Acceleration Option shall not affect Tenant's lease of the Offering Space, which shall continue as contemplated in Section IX.C above.
Acceleration Right. If this Agreement is terminated by the Carrier pursuant to Section 8.3, the Carrier shall, in good faith and in a commercially reasonable manner, determine the Acceleration Payment. The Carrier shall give the Shipper written notice of the amount of the Acceleration Payment stating in reasonable detail how the amount was calculated. The Acceleration Payment is not subject to deduction or abatement for any reason. The Shipper shall pay the Acceleration Payment owed by it to the Carrier within thirty (30) days of receipt of written notice from the Carrier. The Acceleration Payment is a reasonable pre-estimate of the loss suffered by the Carrier in the event of termination of this Agreement, and is not a penalty.
Acceleration Right. If the Corporation, or a subsidiary of the Corporation, is registered as an investment dealer and marketplace under the securities laws of a jurisdiction in Canada by a securities regulatory authority (the “Registration Approval”), the Corporation may accelerate the Expiry Date of the Warrants to sixty (60) days after the later of: (a) [Closing Date + 6 months] and (b) the date the Corporation provides notice of the Registration Approval to the Holder by providing a notice to the Holder of the acceleration of the Expiry Date of the Warrants (the “Acceleration Notice”) in accordance with Section 25. An Acceleration Notice must include the following information: (i) the date on which the Registration Approval was received by the Corporation: (ii) a copy of the Registration Approval: and (iii) the new Expiry Date of the Warrants. Following delivery of a valid Acceleration Notice, the Expiry Date of the Warrants shall be the Expiry Date set out in the Acceleration Notice. Notwithstanding the foregoing, the Corporation shall provide the Holder with notice of the Registration Approval within 10 days of receipt of same.
