Action if Any Event of Default. If any Event of Default shall occur for any reason, whether voluntary or involuntary, and be continuing, the U.S. Administrative Agent, upon the written direction of the Required Lenders, shall by notice to the Borrowers declare all or any portion of the outstanding principal amount of the Loans and other Obligations (including Reimbursement Obligations), other than Loans and other Obligations which have become due and payable pursuant to Section 8.2, to be due and payable by the Borrowers and/or the relevant Commitments (if not theretofore terminated) to be terminated, whereupon the full unpaid amount of such Loans and other Obligations which shall be so declared due and payable shall be and become immediately due and payable, without further notice, demand or presentment, and/or, as the case may be, the relevant Commitments shall terminate and the Borrowers shall automatically and immediately be obligated to Cash Collateralize (in the relevant Currency) all Letter of Credit Outstandings and Canadian BAs in respect of which any Lender has not received payout in full.
Appears in 4 contracts
Samples: Credit Agreement (Associated Materials Inc), Credit Agreement (AMH Holdings, Inc.), Credit Agreement (AMH Holdings, Inc.)
