Common use of Action if Other Event of Default Clause in Contracts

Action if Other Event of Default. If any Event of Default (other than an Event of Default described in clauses (a) through (d) of Section 9.1.9 with respect to any Revolving Credit Obligor) shall occur for any reason, whether voluntary or involuntary, and be continuing, the Administrative Agent, upon the direction of the Required Revolving Credit Lenders, shall by notice to the Revolving Credit Borrowers declare all or any portion of the outstanding principal amount of the Revolving Credit Loans and other Revolving Credit Obligations to be due and payable, and/or declare the Revolving Credit Commitments (if not theretofore terminated) to be terminated, whereupon the full unpaid amount of such Revolving Credit Loans and other Revolving Credit 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 Revolving Credit Commitments shall terminate.

Appears in 3 contracts

Samples: Revolving Credit Agreement (Specialty Foods Corp), Revolving Credit Agreement (Specialty Foods Acquisition Corp), Revolving Credit Agreement (Specialty Foods Corp)

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Action if Other Event of Default. If any Event of Default (other than an any Event of Default with respect to the Borrower or ADT Limited described in clauses clause (ab) through or (d) of Section 9.1.9 with respect to any Revolving Credit Obligor9.1.9) shall occur for any reason, whether voluntary or involuntary, and be continuing, the Administrative Agent, upon the direction of the Required Revolving Credit Lenders, shall by notice to the Revolving Credit Borrowers Borrower declare all or any portion of the outstanding principal amount of the Revolving Credit Loans and other Revolving Credit Obligations to be due and payable, and/or declare terminate the Revolving Credit Commitments Loan Commitment (if not theretofore terminated) to be terminatedand/or demand immediate compliance of the Borrower with its obligations under Section 4.7, whereupon the full unpaid amount of such Revolving Credit Loans and other Revolving Credit Obligations which shall be so declared due and payable shall be and become immediately due and payable, without further notice, demand or presentment, the Revolving Loan Commitment shall terminate and/or, as the case may be, the Revolving Credit Commitments Borrower shall terminatebe obligated to comply immediately with its obligations under Section 4.7.

Appears in 2 contracts

Samples: Credit Agreement (Adt Limited), Credit Agreement (Adt Limited)

Action if Other Event of Default. If any Event of Default (other than an any Event of Default described in clauses (a) through (d) of Section 9.1.9 with respect to any Revolving Credit Obligor9.01(i)) shall occur for any reason, whether voluntary or involuntary, and be continuing, the Administrative Agent, upon the direction of the Required Revolving Credit Requisite Lenders, shall shall, by written notice to the Revolving Credit Borrowers Borrower and each Lender, require that the Borrower Cash Collateralize the L/C Obligations (in an amount equal to the then Outstanding Amount thereof) and declare all all, or any portion portion, of the outstanding principal amount of the Revolving Credit Loans and other Revolving Credit Obligations to be due and payable, payable and/or declare the Revolving Credit Commitments (if not theretofore terminated) to be terminated, whereupon the full unpaid amount of such Revolving Credit Loans and other Revolving Credit Obligations which shall be so declared due and payable payable, shall be and become immediately due and payable, without further notice, demand or presentment, and/or, as the case may be, the Revolving Credit Commitments shall terminate.

Appears in 2 contracts

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

Action if Other Event of Default. If any Event of Default (other than an any Event of Default described in clauses (ai) through (dv) of Section 9.1.9 7.01(i) with respect to any Revolving Credit ObligorBorrower) shall occur for any reason, whether voluntary or involuntary, and be continuing, the Administrative AgentAgent may, and upon the direction of the Required Revolving Credit LendersRequisite Lenders shall, shall by written notice to the Revolving Credit Borrowers Borrower and each Lender declare all or any portion of the outstanding principal amount of the Revolving Credit Loans and other Revolving Credit Obligations to be due and payable, payable and/or declare the Revolving Commitments and the obligations of the Issuing Bank to issue Letters of Credit Commitments (if not theretofore terminated) to be terminated, whereupon the full unpaid amount of such Revolving Credit Loans and other Revolving Credit Obligations which shall be so declared due and payable shall be and become immediately due and payable, without further notice, demand or presentment, presentment and/or, as the case may be, the Revolving Commitments and the obligations of the Issuing Bank to issue Letters of Credit Commitments shall terminate.

Appears in 2 contracts

Samples: Credit Agreement (Rural/Metro Corp /De/), Credit Agreement (Rural/Metro Corp /De/)

Action if Other Event of Default. If any Event of Default (other than an any Event of Default described in clauses (ai) through (dv) of Section 9.1.9 7.01(i) with respect to any Revolving Credit ObligorBorrower) shall occur for any reason, whether voluntary or involuntary, and be continuing, the Administrative AgentAgent may, and upon the direction of the Required Revolving Credit LendersRequisite Lenders shall, shall by written notice to the Revolving Credit Borrowers Borrower and each Lender declare all or any portion of the outstanding principal amount of the Revolving Credit Loans and other Revolving Credit Obligations to be due and payable, payable and/or declare the Revolving Commitments and the obligations of the Issuing Bank and LC Facility Issuing Bank to issue Letters of Credit Commitments (if not theretofore terminated) to be terminated, whereupon the full unpaid amount of such Revolving Credit Loans and other Revolving Credit Obligations which shall be so declared due and payable shall be and become immediately due and payable, without further notice, demand or presentment, presentment and/or, as the case may be, the Revolving Commitments and the obligations of the Issuing Bank and LC Facility Issuing Bank to issue Letters of Credit Commitments shall terminate.

Appears in 2 contracts

Samples: Credit Agreement (Rural Metro Corp /De/), Credit Agreement (Rural Metro Corp /De/)

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Action if Other Event of Default. If any Event of Default (other than an any Event of Default described in clauses (a) through (d) of Section 9.1.9 with respect to any Revolving Credit Obligor7.01(i)) shall occur for any reason, whether voluntary or involuntary, and be continuing, the Administrative AgentAgent may, and upon the direction of the Required Revolving Credit Requisite Lenders, shall shall, by written notice to the Revolving Credit Borrowers U.S. Borrower and each Lender declare all or any portion of the outstanding principal amount of the Revolving Credit Loans and other Revolving Credit Obligations to be due and payable, payable and/or declare the Revolving Credit Commitments and the obligation of each Issuer to Issue any Letter of Credit (if not theretofore terminated) to be terminated, whereupon the full unpaid amount of such Revolving Credit Loans and other Revolving Credit Obligations which shall be so declared due and payable shall be and become immediately due and payable, without further notice, demand or presentment, presentment and/or, as the case may be, the Revolving Credit Commitments and the obligation of each Issuer to Issue any Letter of Credit shall terminate.

Appears in 1 contract

Samples: Credit Agreement (Solutia Inc)

Action if Other Event of Default. If any Event of Default (other than an any Event of Default described in clauses (a) through (d) of Section 9.1.9 with respect to any Revolving Credit Obligor8.1.9) shall occur for any reason, whether voluntary or involuntary, and be continuing, the Administrative Agent, upon the direction of the Required Revolving Credit Lenders, shall by notice to the Revolving Credit Borrowers Borrower declare the Stated Maturity 84- 92 Date to be accelerated and/or direct the Administrative Agent to declare all or any portion of the outstanding principal amount of the Revolving Loans, Letter of Credit Loans Outstandings and other Revolving Credit Obligations to be due and payable, payable and/or declare the Revolving Credit Commitments of each Lender (if not theretofore terminated) to be terminated, whereupon the Stated Maturity Date shall be accelerated, the full unpaid amount of such Revolving Loans, Letter of Credit Loans Outstandings and other Revolving Credit 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 Revolving Credit Commitments shall terminate.

Appears in 1 contract

Samples: Revolving Credit Agreement (Handy & Harman)

Action if Other Event of Default. If any Event of Default (other than an Event of Default described in clauses (a) through (de) of Section 9.1.9 with respect to any Revolving Credit Obligor8.1.9) shall occur for any reason, whether voluntary or involuntary, and be continuing, the Administrative Agent, upon the direction of the Required Revolving Credit Lenders, shall by notice to the Revolving Credit Borrowers Borrower declare all or any portion of the outstanding principal amount of the Revolving Credit Loans and other Revolving Credit Obligations (including Reimbursement Obligations) to be due and payable, require the Borrower and the Co-Borrowers to Cash Collateralize all Letter of Credit Outstandings and/or declare the Revolving Credit Commitments (if not theretofore terminated) to be terminated, whereupon the full unpaid amount of such Revolving Credit Loans and other Revolving Credit 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 Revolving Credit Commitments shall terminateterminate and the Borrower and the Co-Borrowers shall be obligated to immediately Cash Collateralize all Letter of Credit Outstandings.

Appears in 1 contract

Samples: Revolving Credit Agreement (Royster-Clark Inc)

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