Acceleration upon Insolvency Clause Samples
The 'Acceleration upon Insolvency' clause allows a lender or counterparty to demand immediate repayment of all outstanding obligations if the borrower becomes insolvent or enters bankruptcy proceedings. In practice, this means that if a company files for bankruptcy, is declared insolvent, or undergoes similar financial distress events, any remaining amounts owed under the agreement become due right away, rather than following the original payment schedule. This clause serves to protect creditors by enabling them to act quickly to recover debts in the event of a borrower's insolvency, thereby reducing the risk of loss due to the borrower's deteriorating financial condition.
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Acceleration upon Insolvency. Upon the occurrence of any event described in Subsection 9.1.11 (Insolvency), the entire unpaid principal balance of the Notes, and interest accrued and premium, if any, thereon, and any unpaid accrued Commitment Fees and all other amounts accrued hereunder or under the other Loan Documents, shall be immediately due and payable by the Borrower and the Commitments shall terminate without presentment, demand, protest, notice of protest or other notice of dishonor of any kind, all of which are hereby expressly waived by the Borrower.
Acceleration upon Insolvency. Upon the occurrence and during the continuance of any event described in Section 7.1.4, the entire unpaid principal balance of the Note, and all other amounts accrued hereunder or under the other Loan Documents, shall be immediately due and payable by the Borrower without presentment, demand, protest, notice of protest or other notice of dishonor of any kind, all of which are hereby expressly waived by the Borrower.
Acceleration upon Insolvency. Unless waived in writing by the Lender, then upon the occurrence and during the continuance of any event described in Section 7.1.4, the outstanding principal amount of the Term Loan, and interest accrued, if any, thereon, and all other amounts accrued under the Loan Documents, shall be immediately due and payable by the Borrower without presentment, demand, protest, notice of protest or other notice of dishonor of any kind, all of which are hereby expressly waived by the Borrower.
Acceleration upon Insolvency. Upon the occurrence of any event described in Subsection 8.1.11 (Insolvency) relating to the Borrower or any Subsidiary thereof, the entire unpaid principal balance of the Notes, and interest accrued and premium, if any, thereon, and any unpaid accrued Commitment Fees and all other Secured Obligations shall be immediately due and payable by the Borrower and the Commitment shall terminate without presentation, demand, protest, notice of protest or other notice of dishonor of any kind, all of which are hereby expressly waived by the Borrower.