Common use of Action if Event of Termination Clause in Contracts

Action if Event of Termination. Upon the occurrence and continuation of any Event of Termination, the Requisite Lenders may, by notice from the Administrative Agent to the Borrower and the Lenders (except if an Event of Termination described in clauses (i) through (v) of Section 7.01(i) shall have occurred, in which case the Commitments (if not theretofore terminated) shall, without notice of any kind, automatically terminate) declare their Commitments terminated, and upon such declaration the Lenders shall have no further obligation to make any Loans hereunder. Upon such termination of the Commitments, all accrued fees and expenses shall be immediately due and payable.

Appears in 6 contracts

Samples: Credit Agreement (Consolidated Communications Holdings, Inc.), Amendment Agreement (Consolidated Communications Holdings, Inc.), Credit Agreement (Seminis Inc)

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Action if Event of Termination. Upon the occurrence and continuation of any Event of Termination, the Requisite Lenders may, by notice from the Administrative Agent to the Borrower and the Lenders (except if an Event of Termination described in clauses (i) through (v) of Section 7.01(i) shall have occurred, in which case the Commitments (if not theretofore terminated) shall, without notice of any kind, automatically terminate) declare their Commitments terminated, and upon such declaration the Lenders shall have no further obligation to make any Loans hereunder. Upon such termination of the Commitments, all accrued fees and expenses shall be immediately due and payable.

Appears in 5 contracts

Samples: Credit Agreement (Spirit AeroSystems Holdings, Inc.), Credit Agreement (Polymer Group Inc), Credit Agreement (Polymer Group Inc)

Action if Event of Termination. Upon the occurrence and continuation of any Event of Termination, the Requisite Lenders may, by notice from the Administrative Agent to the Borrower Borrowers and the Lenders (except if an Event of Termination described in clauses (i) through (v) of Section 7.01(i) shall have occurred, in which case the Commitments (if not theretofore terminated) shall, without notice of any kind, automatically terminate) declare their Commitments terminated, and upon such declaration the Lenders shall have no further obligation to make any Loans hereunder. Upon such termination of the Commitments, all accrued fees and expenses shall be immediately due and payable.

Appears in 3 contracts

Samples: Credit Agreement (Consolidated Communications Holdings, Inc.), Credit Agreement (Consolidated Communications Illinois Holdings, Inc.), Credit Agreement (Consolidated Communications Texas Holdings, Inc.)

Action if Event of Termination. Upon the occurrence and continuation of any Event of Termination, the Requisite Lenders may, by notice from the Administrative Agent to the Borrower and the Lenders (except if an Event of Termination described in clauses (i) through (v) of Section 7.01(i) shall have occurred, in which case the Commitments (if not theretofore terminated) terminated shall, without notice of any kind, automatically terminate) declare their Commitments terminated, and upon such declaration the Lenders shall have no further obligation to make any Loans hereunder. Upon such termination of the Commitments, all accrued fees and expenses under the Loan Documents shall be immediately due and payable.

Appears in 3 contracts

Samples: Credit Agreement (Lifepoint Health, Inc.), Credit Agreement (Lifepoint Hospitals, Inc.), Credit Agreement (Lakers Holding Corp.)

Action if Event of Termination. Upon the occurrence and continuation of any Event of Termination, the Requisite Required Lenders may, by notice from the Administrative Agent to the Borrower CCSC and the Lenders (except if an Event of Termination described in clauses (i) through (v) of Section 7.01(i) shall have occurred, in which case the Commitments (if not theretofore terminated) shall, without notice of any kind, automatically terminate) declare their Commitments terminated, and upon such declaration the Lenders shall have no further obligation to make any Loans hereunder. Upon such termination of the Commitments, all accrued fees and expenses shall be immediately due and payable.

Appears in 2 contracts

Samples: Credit Agreement (Crown Cork & Seal Co Inc), Credit Agreement (Crown Cork & Seal Co Inc)

Action if Event of Termination. Upon the occurrence and continuation of any Event of Termination, the Requisite Revolving Lenders may, by notice from the Administrative Agent to the Borrower and the Lenders (except if an Event of Termination described in clauses (i) through (v) of Section 7.01(i9.01(i) shall have occurred, in which case case, the Commitments (if not theretofore terminated) shall, without notice of any kind, automatically terminate) require that the Borrower Cash Collateralize the L/C Obligations (in an amount equal to the then Outstanding Amount thereof) and declare their Commitments terminated, and and, upon such declaration declaration, the Lenders shall have no further obligation to make any Loans hereunder. Upon such termination of the Commitments, all accrued fees and expenses shall be immediately due and payable.

Appears in 2 contracts

Samples: Credit Agreement (Spirit AeroSystems Holdings, Inc.), Credit Agreement (Spirit AeroSystems Holdings, Inc.)

Action if Event of Termination. Upon the occurrence and continuation of any Event of Termination, the Requisite Revolving Lenders may, by notice from the Administrative Agent to the Borrower and the Lenders (except if an Event of Termination described in clauses (i) through (v) of Section 7.01(i9.01(i) shall have occurred, in which case the Commitments (if not theretofore terminated) shall, without notice of any kind, automatically terminate) require that the Borrower Cash Collateralize the L/C Obligations (in an amount equal to the then Outstanding Amount thereof) and declare their Commitments terminated, and upon such declaration the Lenders shall have no further obligation to make any Loans hereunder. Upon such termination of the Commitments, all accrued fees and expenses shall be immediately due and payable.

Appears in 2 contracts

Samples: Credit Agreement (Spirit AeroSystems Holdings, Inc.), Credit Agreement (Spirit AeroSystems Holdings, Inc.)

Action if Event of Termination. Upon the occurrence and continuation of any Event of Termination, the Requisite Lenders may, by notice from the Administrative Agent to the Borrower and the Lenders (except if an Event of Termination described in clauses (i) through (v) of Section 7.01(i) shall have occurred, in which case the Commitments (if not theretofore terminated) shall, without notice of any kind, automatically terminate) declare their Commitments terminated, and upon such declaration the Lenders shall have no further obligation to make any Loans hereunder. Upon such termination of the Commitments, all accrued fees and expenses shall be immediately due and payable.. Table of Contents

Appears in 2 contracts

Samples: Credit Agreement (Constar International Inc), Credit Agreement (Constar Inc)

Action if Event of Termination. Upon the occurrence and continuation of any Event of Termination, the Requisite First Lien Lenders may, by notice from the Administrative Agent to the Borrower and the Lenders (except if an Event of Termination described in clauses (i) through (v) of Section 7.01(i) shall have occurred, in which case the Commitments (if not theretofore terminated) shall, without notice of any kind, automatically terminate) declare their Commitments terminated, and upon such declaration the Lenders shall have no further obligation to make any Loans hereunder. Upon such termination of the Commitments, all accrued fees and expenses shall be immediately due and payable.

Appears in 1 contract

Samples: Credit Agreement (Constar International Inc)

Action if Event of Termination. Upon the occurrence and continuation of If any Event of Termination, the Requisite Lenders may, by notice from the Administrative Agent to the Borrower and the Lenders Termination (except if an other than any Event of Termination described in clauses (i) through (v) of Section 7.01(i) with respect to any Borrower) shall have occurredoccur for any reason, in which case whether voluntary or involuntary, and be continuing, the Administrative Agent, upon the direction of the Requisite Lenders, shall by written notice to the Borrowers and each Lender declare the Commitments (if not theretofore terminated) shall, without notice of any kind, automatically terminate) declare their Commitments to be terminated, and upon such declaration whereupon without further notice, demand or presentment, the Lenders Commitments shall have no further obligation to make any Loans hereunderterminate. Upon such termination of the Commitments, all accrued fees and expenses shall be immediately due and payable.

Appears in 1 contract

Samples: Credit Agreement (Samsonite Corp/Fl)

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Action if Event of Termination. Upon the occurrence and continuation of any Event of Termination, the Requisite Lenders may, by notice from the Administrative Agent to the Borrower Borrowers and the Lenders (except if an Event of Termination described in clauses (iSection 7.01(i) through (vor 7.02(h) or 7.01(n) by virtue of Section 7.02(h) or 7.02(k) by virtue of 7.01(i) shall have occurred, in which case the Commitments (if not theretofore terminated) shall, without notice of any kind, automatically terminate) declare their Commitments terminated, and upon such declaration the Lenders shall have no further obligation to make any Loans hereunder. Upon such termination of the Commitments, all accrued fees and expenses shall be immediately due and payable.

Appears in 1 contract

Samples: Credit Agreement (Spirit AeroSystems Holdings, Inc.)

Action if Event of Termination. Upon the occurrence and continuation of any Event of Termination, the Requisite Lenders may, by notice from the Administrative Agent to the Borrower and the Lenders (except if an Event of Termination described in clauses (i) through (v) of Section 7.01(i9.01(i) shall have occurred, in which case case, the Commitments (if not theretofore terminated) shall, without notice of any kind, automatically terminate) declare their Commitments terminated, and and, upon such declaration declaration, the Lenders shall have no further obligation to make any Loans hereunder. Upon such termination of the Commitments, all accrued fees and expenses shall be immediately due and payable.

Appears in 1 contract

Samples: Delayed Draw Term Loan Credit Agreement (Spirit AeroSystems Holdings, Inc.)

Action if Event of Termination. Upon the occurrence and ------------------------------- continuation of any Event of Termination, the Requisite Required Lenders may, by notice from the Administrative Agent to the Borrower CCSC and the Lenders (except if an Event of Termination described in clauses (i) through (v) of Section 7.01(i) shall have occurred, in which case the Commitments (if not theretofore terminated) shall, without notice of any kind, automatically terminate) declare their Commitments terminated, and upon such declaration the Lenders shall have no further obligation to make any Loans hereunder. Upon such termination of the Commitments, all accrued fees and expenses shall be immediately due and payable.

Appears in 1 contract

Samples: Credit Agreement (Crown Cork & Seal Co Inc)

Action if Event of Termination. Upon the occurrence ------------------------------- and continuation of any Event of Termination, the Requisite Required Lenders may, by notice from the Administrative Agent to the Borrower and the Lenders (except if an Event of Termination Default described in clauses (i) through (v) of Section 7.01(i) shall have occurred, in which case the Commitments Credit Commitment (if not theretofore terminated) shall, without notice of any kind, automatically terminate) declare their Credit Commitments terminated, and upon such declaration the Lenders shall have no further obligation to make any Loans hereunder. Upon such termination of the Credit Commitments, all accrued fees and expenses shall be immediately due and payable.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Crown Cork & Seal Co Inc)

Action if Event of Termination. Upon the occurrence and continuation of any Event of Termination, the Requisite Lenders may, by notice from the Administrative Agent to the Borrower and the Lenders (except if an Event of Termination described in clauses (i) through (v) of Section 7.01(i9.01(i) shall have occurred, in which case the Commitments (if not theretofore terminated) shall, without notice of any kind, automatically terminate) require that the Borrower Cash Collateralize the L/C Obligations (in an amount equal to the then Outstanding Amount thereof) and declare their Commitments terminated, and upon such declaration the Lenders shall have no further obligation to make any Loans hereunder. Upon such termination of the Commitments, all accrued fees and expenses shall be immediately due and payable.

Appears in 1 contract

Samples: Credit Agreement (Spirit AeroSystems Holdings, Inc.)

Action if Event of Termination. Upon the occurrence and continuation of any Event of Termination, the Requisite Required Lenders may, by notice from the Administrative Agent to the Borrower CCSC and the Lenders (except if an Event of Termination described in clauses (i) through (v) of Section 7.01(i) shall have occurred, in which case the Revolving Credit Commitments (if not theretofore terminated) shall, without notice of any kind, automatically terminate) declare their Revolving Credit Commitments terminated, and upon such declaration the Lenders shall have no further obligation to make any Loans hereunder. Upon such termination of the Revolving Credit Commitments, all accrued fees and expenses shall be immediately due and payable.

Appears in 1 contract

Samples: Revolving Credit and Competitive Advance Facility Agreement (Crown Cork & Seal Co Inc)

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