Common use of Action if Bankruptcy Clause in Contracts

Action if Bankruptcy. If any Event of Default with respect to any Borrower described in SECTION 8.1(g) shall occur, the Commitments (if not theretofore terminated) shall automatically terminate and the outstanding principal amount of all outstanding Loans and all other obligations hereunder shall automatically be and become immediately due and payable, without demand, protest or presentment or notice of any kind, all of which are hereby expressly waived by Borrower and its Subsidiaries. Without limiting the foregoing, the Agents and the Lenders shall be entitled to exercise any and all other remedies available to them under the Loan Documents and applicable law.

Appears in 1 contract

Samples: Credit Agreement (Forest Oil Corp)

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Action if Bankruptcy. If any Event of Default described in SECTION 8.1(G) with respect to any Borrower described in SECTION 8.1(g) shall occur, the Commitments (if not theretofore terminated) shall automatically terminate and the outstanding principal amount of all outstanding Loans and all other obligations hereunder shall automatically be and become immediately due and payable, without demand, protest or presentment or notice of any kind, all of which are hereby expressly waived by Borrower and its Subsidiaries. Without limiting the foregoing, the Agents and the Lenders shall be entitled to exercise any and all other remedies available to them under the Loan Documents and applicable law.

Appears in 1 contract

Samples: Credit Agreement (Forest Oil Corp)

Action if Bankruptcy. If any Event of Default described in Section 8.1(f) or (g) with respect to any either Borrower described in SECTION 8.1(g) shall occur, the Commitments (if not theretofore terminated) shall automatically terminate and the outstanding principal amount of all outstanding Loans and all other obligations hereunder shall automatically be and become immediately due and payable, without demand, protest or presentment or notice of any kind, all of which are hereby expressly waived by each Borrower and its Subsidiaries. Without limiting the foregoing, the Agents and the Lenders shall be entitled to exercise any and all other remedies available to them under the Loan Documents and applicable law.

Appears in 1 contract

Samples: Pledge Agreement (Brown Tom Inc /De)

Action if Bankruptcy. If any Event of Default described in Section 8.1(g) with respect to any either Borrower described in SECTION 8.1(g) shall occur, the Commitments (if not theretofore terminated) shall automatically terminate and the outstanding principal amount of all outstanding Loans and all other obligations hereunder shall automatically be and become immediately due and payable, without demand, protest or presentment or notice of any kind, all of which are hereby expressly waived by each Borrower and its Subsidiaries. Without limiting the foregoing, the Agents and the Lenders shall be entitled to exercise any and all other remedies available to them under the Loan Documents and applicable law.

Appears in 1 contract

Samples: Credit Agreement (Brown Tom Inc /De)

Action if Bankruptcy. If any Event of Default described in Section 8.1(f) or (g) with respect to any the Borrower described in SECTION 8.1(g) shall occur, the Commitments (if not theretofore terminated) shall automatically terminate and the outstanding principal amount of all outstanding Loans and all other obligations hereunder shall automatically be and become immediately due and payable, without demand, protest or presentment or notice of any kind, all of which are hereby expressly waived by the Borrower and its Subsidiaries. Without limiting the foregoing, the Agents and the Lenders shall be entitled to exercise any and all other remedies available to them under the Loan Documents and applicable law.

Appears in 1 contract

Samples: Pledge Agreement (Brown Tom Inc /De)

Action if Bankruptcy. If any Event of Default with respect to any Borrower described in SECTION Section 8.1(g) shall occur, the Commitments (if not theretofore terminated) shall automatically terminate and the outstanding principal amount of all outstanding Loans and all other obligations Obligations hereunder shall automatically be and become immediately due and payable, without demand, protest or presentment or notice of any kind, all of which are hereby expressly waived by Borrower and its Subsidiaries. Without limiting the foregoing, the Agents and the Lenders shall be entitled to exercise any and all other remedies available to them under the Loan Documents and applicable law.

Appears in 1 contract

Samples: Credit Agreement (Storm Cat Energy CORP)

Action if Bankruptcy. If any Event of Default with respect to any Borrower described in SECTION 8.1(gSection 8.1(e) shall occur, the Commitments (if not theretofore terminated) shall automatically terminate and the outstanding principal amount of all outstanding Loans and all other obligations Obligations hereunder shall automatically be and become immediately due and payable, without demand, protest or presentment or notice of any kind, all of which are hereby expressly waived by Borrower and its Subsidiaries. Without limiting the foregoingforegoing but subject to the Initial CCAA Order, the Agents Administrative Agent and the Lenders shall be entitled to exercise any and all other remedies available to them under the Loan Documents and applicable law.

Appears in 1 contract

Samples: Credit Agreement (Lone Pine Resources Inc.)

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Action if Bankruptcy. If any Event of Default with respect to any Borrower described in SECTION Section 8.1(g) shall occur, the Commitments and Letter of Credit Commitments (if not theretofore terminated) shall automatically terminate and the outstanding principal amount of all outstanding Loans and LC Disbursements and all other obligations hereunder shall automatically be and become immediately due and payable, without notice or demand, protest or presentment or notice of any kind, all of which are hereby expressly waived by Borrower and its Subsidiaries. Without limiting the foregoing, the Agents Administrative Agent, the Issuing Banks and the Lenders shall be entitled to exercise any and all other remedies available to them under the Loan Documents and applicable law.

Appears in 1 contract

Samples: Credit Agreement (Apache Corp)

Action if Bankruptcy. If any Event of Default with respect to any Borrower described in SECTION Section 8.1(g) shall occur, the Commitments (if not theretofore terminated) shall automatically terminate and the outstanding principal amount of all outstanding Loans and all other obligations Obligations hereunder shall automatically be and become immediately due and payable, without demand, protest or presentment or notice of any kind, all of which are hereby expressly waived by Borrower Borrower, Parent and its their Subsidiaries. Without limiting the foregoing, the Agents and the Lenders shall be entitled to exercise any and all other remedies available to them under the Loan Documents and applicable law.

Appears in 1 contract

Samples: Credit Agreement (Storm Cat Energy CORP)

Action if Bankruptcy. If any Event of Default described in Section 7.1(f) with respect to any the Borrower described in SECTION 8.1(g) shall occur, the Commitments (if not theretofore terminated) shall automatically terminate and the outstanding principal amount of all outstanding Loans and all other obligations hereunder shall automatically be and become immediately due and payable, without demand, protest or presentment or notice of any kind, all of which are hereby expressly waived by the Borrower and its Subsidiaries. Without limiting the foregoing, the Agents Administrative Agent and the Lenders shall be entitled to exercise any and all other remedies available to them under the Loan Documents and applicable law.

Appears in 1 contract

Samples: Credit Agreement (Brown Tom Inc /De)

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