Common use of Action in Event of Default Clause in Contracts

Action in Event of Default. (a) Upon any Event of Default specified in clause (i) or (ii) of Section 8.1(f), the Commitments shall immediately terminate automatically and the Loans (with accrued interest thereon) and all other Obligations owing under this Agreement and the other Loan Documents shall automatically immediately become due and payable, and (b) if any other Event of Default under Section 8.1 occurs, with the consent of the Required Lenders, the Administrative Agent shall, upon the request of the Required Lenders, by notice to the Company, declare the Commitments to be terminated and the Loans (with accrued interest thereon) and all other Obligations owing under this Agreement and the other Loan Documents to be due and payable forthwith, whereupon the same shall immediately terminate and become due and payable. Except as expressly provided above in this Section 8.2, presentment, demand, protest and all other notices of any kind are hereby expressly waived by the Company.

Appears in 3 contracts

Samples: Pledge and Security Agreement, Credit Agreement (TMS International Corp.), Pledge and Security Agreement (TMS International Corp.)

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Action in Event of Default. (ai) Upon any Event of Default specified in clause (i) or (iih) of Section 8.1(f)7.1 with respect to the Borrower, the Commitments shall immediately terminate automatically and the Loans (with accrued interest thereon) and all other Obligations owing under this Agreement and the other Loan Documents shall automatically immediately become due and payable, and (bii) if any other Event of Default under Section 8.1 7.1 occurs, with the consent of the Required Lenders, the Administrative Agent shall, upon the request of the Required Lenders, by notice to the CompanyBorrower, declare the Commitments to be terminated and the Loans (with accrued interest thereon) and all other Obligations owing under this Agreement and the other Loan Documents to be due and payable forthwith, whereupon the same shall immediately terminate and become due and payable. Except as expressly provided above in this Section 8.27.2, presentment, demand, protest and all other notices of any kind are hereby expressly waived by the CompanyObligors to the fullest extent permitted by law.

Appears in 2 contracts

Samples: Term Loan Agreement (Milacron Holdings Corp.), Term Loan Agreement (Milacron Holdings Corp.)

Action in Event of Default. (a) Upon any Event of Default specified in clause (i) or (ii) of Section 8.1(f), the Commitments shall immediately terminate automatically and the Loans (with accrued interest thereon) and all other Obligations owing under this Agreement and the other Loan Documents shall automatically immediately become due and payable, payable and (b) if any other Event of Default under Section 8.1 occurs, with the consent of the Required Lenders, the Administrative Agent shallmay, or upon the request of the Required Lenders, the Administrative Agent shall, by written notice to the CompanyCompany Borrower, declare the Commitments to be terminated and the Loans (with accrued interest thereon) and all other Obligations owing under this Agreement and the other Loan Documents to be due and payable forthwith, whereupon the same shall immediately terminate and become due and payable. Except as expressly provided above in this Section 8.28.3, presentment, demand, protest and all other notices of any kind are hereby expressly waived by the CompanyBorrower.

Appears in 2 contracts

Samples: Credit Agreement (JELD-WEN Holding, Inc.), Credit Agreement (JELD-WEN Holding, Inc.)

Action in Event of Default. (a) Upon any Event of Default specified in clause (i) or (ii) of Section 8.1(f), the Commitments shall immediately terminate automatically and the Loans (with accrued interest thereon) and all other Obligations owing under this Agreement and the other Loan Documents shall automatically immediately become due and payable, payable and (b) if any other Event of Default under Section 8.1 occurs, with the consent of the Required Lenders, the Administrative Agent shallmay, or upon the request of the Required Lenders, the Administrative Agent shall, by written notice to the CompanyCompany Borrower, declare the Commitments to be terminated and the Loans (with accrued interest thereon) and all other Obligations owing under this Agreement and the other Loan Documents to be due and payable forthwith, whereupon the same shall immediately terminate and become due and payable. Except as expressly provided above in this Section 8.28.3, presentment, demand, protest and all other notices of any kind are hereby expressly waived by the Company.Borrower. 8.4

Appears in 1 contract

Samples: Credit Agreement (JELD-WEN Holding, Inc.)

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Action in Event of Default. (ai) Upon any Event of Default specified in clause (i) or (iih) of Section 8.1(f)7.1 with respect to the Borrower, the Commitments shall immediately terminate automatically and the Loans (with accrued interest thereon) and all other Obligations owing under this Agreement and the other Loan Documents shall automatically immediately become due and payable, and (bii) if any other Event of Default under Section 8.1 7.1 occurs, with the consent of the Required Lenders, the Administrative Agent shall, upon the request of the Required Lenders, by notice to the CompanyBorrower, declare the Commitments to be terminated and the Loans (with accrued interest thereon) and all other Obligations owing under this Agreement and the other Loan Documents to be due and payable forthwith, whereupon the same shall immediately terminate and become due and payable. Except as expressly provided above in this Section 8.27.2, presentment, demand, protest and all other notices of any kind are hereby expressly waived by the Company.Obligors to the fullest extent permitted by law. 100

Appears in 1 contract

Samples: Term Loan Agreement (Milacron Holdings Corp.)

Action in Event of Default. (a) Upon any Event of Default specified in clause (i) or (ii) of Section 8.1(f), the Commitments shall immediately terminate automatically and the Loans (with accrued interest thereon) and all other Obligations owing under this Agreement and the other Loan Documents shall automatically immediately become due and payable, payable and (b) if any other Event of Default under Section 8.1 occurs, with the consent of the Required Lenders, the Administrative Agent shallmay, or upon the request of the Required Lenders, the Administrative Agent shall, by written notice to the CompanyBorrower, declare the Commitments to be terminated and the Loans (with accrued interest thereon) and all other Obligations owing under this Agreement and the other Loan Documents to be due and payable forthwith, whereupon the same shall immediately terminate and become due and payable. Except as expressly provided above in this Section 8.2, presentment, demand, protest and all other notices of any kind are hereby expressly waived by the CompanyBorrower.

Appears in 1 contract

Samples: Term Loan Credit Agreement (Mueller Water Products, Inc.)

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