Acceleration; Termination of Commitment Sample Clauses
The 'Acceleration; Termination of Commitment' clause allows a lender to demand immediate repayment of all outstanding obligations and to end any further lending commitments under a loan agreement, typically upon the occurrence of certain events such as a default by the borrower. In practice, this means that if the borrower fails to meet specific obligations—like missing payments or breaching covenants—the lender can require the full loan balance to be paid at once and refuse to provide any additional funds. This clause serves to protect the lender by providing a clear mechanism to mitigate risk and recover funds quickly if the borrower's financial situation deteriorates.
Acceleration; Termination of Commitment. If any Event of Default shall occur, Lender, in its sole discretion, may (a) declare the Obligations to be immediately due and payable, and upon such declaration, the Obligations (including, without limitation, the Outstanding Balance), shall become immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived, anything contained herein or in the other Loan Documents to the contrary notwithstanding, (b) terminate any then outstanding commitment whether to Customer or any Affiliate of Customer to make the Loan or any advance thereof, or any other financial accommodations, whether related to the Loan or otherwise, and/or (c) pursue and enforce any of Lender’s rights and remedies under this Section 7; provided, however, if an Event of Default specified in Section 6(e) above shall occur, the Obligations shall become immediately due and payable, all such commitments shall terminate, and Lender shall have all such other rights and remedies contemplated in the preceding clauses (a), (b) and (c), automatically, and without any notice or other action by Lender.
Acceleration; Termination of Commitment. (i) Terminate the Commitments, the Swing Line Lender’s commitment under Section 2.6 and the Issuing Lender’s L/C Commitment, and declare the principal of and interest on the Loans and the Reimbursement Obligations at the time outstanding, and all other amounts owed to the Lenders and to the Administrative Agent under this Agreement or any of the other Loan Documents (including all L/C Obligations, whether or not the beneficiaries of the then outstanding Letters of Credit shall have presented or shall be entitled to present the documents required thereunder) and all other Obligations, to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower, anything in this Agreement or the other Loan Documents to the contrary notwithstanding, and terminate the Revolving Credit Facility and any right of the Borrower to request borrowings or Letters of Credit thereunder; provided, that upon the occurrence of an Event of Default specified in Section 8.1(h) or (i), the Revolving Credit Facility shall be automatically terminated and all Obligations shall automatically become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower, anything in this Agreement or in any other Loan Document to the contrary notwithstanding; and
(ii) exercise on behalf of the Lenders all of its other rights and remedies under this Agreement, the other Loan Documents and Applicable Law, in order to satisfy all of the Obligations.
Acceleration; Termination of Commitment. If a Default set forth in Section 9.c occurs, (i) the unpaid principal amount of the Loans and all accrued, unpaid interest thereon and other amounts hereunder shall be deemed to have matured and shall become and be immediately due and payable without demand, presentment for payment, notice of nonpayment, protest, notice of protest, notice of intent to accelerate maturity, notice of acceleration of maturity or any other notice of any kind to Borrower, all of which are expressly waived by Borrower, anything contained herein to the contrary notwithstanding and (ii) all obligations of Lender to make Loans hereunder shall terminate. If any other Default occurs and continues, Lender (y) may declare the amounts outstanding under this Agreement immediately due and payable, at which time all unpaid principal amount of the Loans and all accrued, unpaid interest thereon shall immediately become due and payable and (z) may terminate all of its obligations to make Loans hereunder. In addition, during the existence of a Default, Lender may exercise any and all rights and remedies available at law or in equity.
Acceleration; Termination of Commitment. If an Event of Default occurs, the Lender, at its option, may declare the entire outstanding balance of principal, interest and fees under this Agreement, the Note and all other Obligations of Borrower to Lender be immediately due and payable.
Acceleration; Termination of Commitment. Subject to Section 7 hereof and the Terms of Subordination, the Subordinated Loans, together with all accrued and unpaid interest thereon and all other amounts then payable with respect thereto, shall be accelerated and due and payable in full by the Borrower, and the commitment of the Subordinated Lender to make any further Subordinated Loans shall terminate, in each case, at the option of the Subordinated Lender, upon:
(a) the acceleration of the Senior Debt (as defined in the Terms of Subordination), or (b) the repayment in full of the Senior Debt (regardless of whether then due). The commitment of the Subordinated Lender to make any further Subordinated Loans shall also terminate, at the option of the Subordinated Lender, upon (x) the occurrence of an Event of Default, or (y) the occurrence of any default or other breach of the Borrower's obligations under the Acquisition Documents.
Acceleration; Termination of Commitment. In the event that one or more Events of Default described in Section 6.1.7 shall occur, then Bank’s commitment under this Agreement shall immediately terminate and all Obligations hereunder and under the Note shall be immediately due and payable without demand, notice or declaration of any kind whatsoever. Upon an Event of Default other than one described in Section 6.1.7 shall occur, then at Bank’s option Bank’s commitment shall terminate, Bank may accelerate the Maturity Date and Bank may declare all Obligations hereunder and under the Note immediately due and payable without demand or notice of any kind whatsoever, whereupon all Obligations hereunder and under the Note shall be immediately due and payable. Bank shall promptly advise Borrowers of any such declaration, but failure to do so shall not impair the effect of such declaration.