Common use of Action Upon Event of Default Clause in Contracts

Action Upon Event of Default. Upon the occurrence and during the continuance of any Event of Default, Administrative Agent or Lenders may, without notice to or demand upon any Borrower, any Guarantor or any other Person, declare any obligations of any Guarantor under this Section 9 immediately due and payable, and shall be entitled to enforce the obligations of each Guarantor under this Section 9. Upon such declaration by Administrative Agent or Lenders, Administrative Agent and Lenders are hereby authorized at any time and from time to time to set off and apply any and all deposits (general or special, time or demand, provisions or final) at any time held and other Indebtedness or other liabilities at any time owing by Administrative Agent or Lenders to or for the credit or the account of such Guarantor against any and all of the obligations of such Guarantor now or hereafter existing hereunder, whether or not Administrative Agent or Xxxxxxx shall have made any demand hereunder against any Borrower or any other Person and although such obligations may be contingent and unmatured. The rights of Administrative Agent and Xxxxxxx xxxxxxxxx are in addition to other rights and remedies (including other rights of set-off) which Administrative Agent and Lenders may have. Upon such declaration by Xxxxxxx, with respect to any claims (other than those claims referred to in the immediately preceding paragraph) of each Guarantor against any Borrower or any other Guarantors (for purposes of this Section 9.10, the “Claims”), each Secured Creditor shall have the full right on the part of such Secured Creditor in its own name or in the name of such Guarantor to collect and enforce such Claims by legal action, proof of debt in bankruptcy or other liquidation proceedings, vote in any proceeding for the arrangement of debts at any time proposed, or otherwise, each Secured Creditor and each of its officers being hereby irrevocably constituted attorneys-in-fact for each Guarantor for the purpose of such enforcement and for the purpose of endorsing in the name of such Guarantor any instrument for the payment of money. Each Guarantor will receive as trustee for Secured Creditors and will pay to Secured Creditors forthwith upon receipt thereof any amounts which such Guarantor may receive from any Borrower or any other Guarantor on account of the Claims. Each Guarantor agrees that at no time hereafter will any of the Claims be represented by any notes or other negotiable instruments or writings, except and in such event they shall either be made payable to Administrative Agent, or if payable to such Guarantor, shall forthwith be endorsed by such Guarantor to Administrative Agent. Each Guarantor agrees that no payment on account of the Claims or any security interest therein shall be created, received, accepted or retained during the continuance of any Event of Default nor shall any financing statement be filed with respect thereto by such Guarantor.

Action Upon Event of Default. Upon the occurrence and during the continuance of any Event of Default, Administrative Agent or may and upon written request of the Required Lenders mayshall, without notice to or demand upon any Borrower, any Guarantor Loan Party or any other Person, declare any obligations Obligations of any such Guarantor under this Section 9 hereunder immediately due and payable, and shall be entitled to enforce the obligations Obligations of each Guarantor under this Section 9Guarantor. Upon such declaration by Administrative Agent or LendersAgent, Administrative Agent and Lenders are hereby authorized at any time and from time to time to set off and apply any and all deposits (general or special, time or demand, provisions or final) at any time held and other Indebtedness or other liabilities indebtedness at any time owing by Administrative Agent or Lenders to or for the credit or the account of such any Guarantor against any and all of the obligations Obligations of such each Guarantor now or hereafter existing hereunder, whether or not Administrative Agent or Xxxxxxx Lenders shall have made any demand hereunder against any Borrower or any other Person Loan Party and although such obligations Obligations may be contingent and unmatured. The rights of Administrative Agent and Xxxxxxx xxxxxxxxx Lenders hereunder are in addition to other rights and remedies (including other rights of set-off) which Administrative Agent and Lenders may have. Upon such declaration by XxxxxxxAgent, with respect to any claims (other than those claims referred to in the immediately preceding paragraph) of each any Guarantor against any Borrower or any other Guarantors Loan Party (for purposes of this Section 9.10, the “Designated Claims”), each Secured Creditor Agent shall have the full right on the part of such Secured Creditor Agent in its own name or in the name of such Guarantor to collect and enforce such Designated Claims by legal action, proof of debt in bankruptcy or other liquidation proceedings, vote in any proceeding for the arrangement of debts at any time proposed, or otherwise, each Secured Creditor Agent and each of its officers being hereby irrevocably constituted attorneys-in-fact for each Guarantor for the purpose of such enforcement and for the purpose of endorsing in the name of such each Guarantor any instrument for the payment of money. Each Guarantor will receive as trustee for Secured Creditors Agent and will pay to Secured Creditors Agent forthwith upon receipt thereof any amounts which such Guarantor may receive from any Borrower or any other Guarantor Loan Party on account of the Designated Claims, except as permitted hereunder. Each Guarantor agrees that at no time hereafter will any of the Designated Claims be represented by any notes or notes, other negotiable instruments or writings, except and in such event they shall either be made payable to Administrative Agent, or if payable to such any Guarantor, shall forthwith be endorsed by such Guarantor to Administrative Agent. Each Guarantor agrees that no payment on account of the Designated Claims or any security interest therein shall be created, received, accepted or retained during the continuance of any Event of Default nor shall any financing statement be filed with respect thereto by such any Guarantor.

Action Upon Event of Default. Upon the occurrence and during the continuance of any Event of Default, Administrative Agent or may and upon written request of the Required Lenders mayshall, without notice to or demand upon any Borrower, any Guarantor Loan Party or any other Person, declare all or any obligations portion of any the Obligations of such Guarantor under this Section 9 hereunder immediately due and payable, and shall be entitled to enforce the obligations Obligations of each Guarantor under this Section 9Guarantor. Upon such declaration by Administrative Agent or LendersAgent, Administrative Agent Agent, Lenders and Lenders any of their Affiliates are hereby authorized at any time and from time to time to set off and apply any and all deposits (general or special, time or demand, provisions or final) at any time held and other Indebtedness or other liabilities indebtedness at any time owing by Administrative Agent or Lenders to or for the credit or the account of such any Guarantor against any and all of the obligations Obligations of such each Guarantor now or hereafter existing hereunderhereunder in accordance with the terms of this Agreement, whether or not Administrative Agent or Xxxxxxx Lenders shall have made any demand hereunder against any Borrower or any other Person Loan Party and although such obligations Obligations may be contingent and unmatured. The rights of Administrative Agent and Xxxxxxx xxxxxxxxx Lenders hereunder are in addition to other rights and remedies (including other rights of set-off) which Administrative Agent and Lenders may have. Upon such declaration by XxxxxxxAgent, with respect to any claims (other than those claims referred to in the immediately preceding paragraph) of each any Guarantor against any Borrower or any other Guarantors Loan Party (for purposes of this Section 9.10, the “Claims”), each Secured Creditor Agent shall have the full right on the part of such Secured Creditor Agent in its own name or in the name of such Guarantor to collect and enforce such Claims by legal action, proof of debt in bankruptcy or other liquidation proceedings, vote in any proceeding for the arrangement of debts at any time proposed, or otherwise, each Secured Creditor Agent and each of its officers being hereby irrevocably constituted attorneys-in-fact for each Guarantor for the purpose of such enforcement and for the purpose of endorsing in the name of such each Guarantor any instrument for the payment of money. Each Guarantor will receive as trustee for Secured Creditors Agent and will pay to Secured Creditors Agent forthwith upon receipt thereof any amounts which such Guarantor may receive from any Borrower or any other Guarantor Loan Party on account of the Claims. Each Guarantor agrees that at no time hereafter will any of the Claims be represented by any notes or other negotiable instruments or writings, except and in such event they shall either be made payable to Administrative Agent, or if payable to such any Guarantor, shall forthwith be endorsed by such Guarantor to Administrative Agent. Each Guarantor agrees that no payment on account of the Claims or any security interest Lien therein shall be created, received, accepted or retained during the continuance of any Event of Default nor shall any financing statement be filed with respect thereto by such any Guarantor.

Action Upon Event of Default. Upon the occurrence and during the continuance of any Event of Default, Administrative the Agent or may and upon written request of the Required Lenders mayshall, without notice to or demand upon any Borrower, any Guarantor Loan Party or any other Person, declare any obligations of any such Guarantor under this Section 9 hereunder immediately due and payable, and shall be entitled to enforce the obligations of each Guarantor under this Section 9Guarantor. Upon such declaration by Administrative Agent or Lendersthe Agent, Administrative the Agent and Lenders are hereby authorized at any time and from time to time to set off and apply any and all deposits (general or special, time or demand, provisions or final) at any time held and other Indebtedness or other liabilities indebtedness at any time owing by Administrative the Agent or Lenders to or for the credit or the account of such any Guarantor against any and all of the obligations of such each Guarantor now or hereafter existing hereunder, whether or not Administrative the Agent or Xxxxxxx Lenders shall have made any demand hereunder against any Borrower or any other Person Loan Party and although such obligations may be contingent and unmatured. The rights of Administrative the Agent and Xxxxxxx xxxxxxxxx Lenders hereunder are in addition to other rights and remedies (including other rights of set-off) which Administrative the Agent and Lenders may have. Upon such declaration by Xxxxxxxthe Agent, with respect to any claims (other than those claims referred to in the immediately preceding paragraph) of each any Guarantor against any Borrower or any other Guarantors Loan Party (for purposes of this Section 9.10the "Claims"), the “Claims”), each Secured Creditor Agent shall have the full right on the part of such Secured Creditor the Agent in its own name or in the name of such Guarantor to collect and enforce such Claims by legal action, proof of debt in bankruptcy or other liquidation proceedings, vote in any proceeding for the arrangement of debts at any time proposed, or otherwise, each Secured Creditor the Agent and each of its officers being hereby irrevocably constituted attorneys-in-fact for each Guarantor for the purpose of such enforcement and for the purpose of endorsing in the name of such each Guarantor any instrument for the payment of money. Each Guarantor will receive as trustee for Secured Creditors the Agent and will pay to Secured Creditors the Agent forthwith upon receipt thereof any amounts which such Guarantor may receive from any Borrower or any other Guarantor Loan Party on account of the Claims. Each Guarantor agrees that at no time hereafter will any of the Claims be represented by any notes or notes, other negotiable instruments or writings, except and in such event they shall either be made payable to Administrative the Agent, or if payable to such any Guarantor, shall forthwith be endorsed by such Guarantor to Administrative the Agent. Each Guarantor agrees that no payment on account of the Claims or any security interest therein shall be created, received, accepted or retained during the continuance of any Event of Default nor shall any financing statement be filed with respect thereto by such any Guarantor.

Action Upon Event of Default. Upon the occurrence and during the continuance of any Event of Default, Administrative the Agent or may, and upon written request of the Required Lenders mayshall, without notice to or demand upon any Borrower, any Guarantor Loan Party or any other Person, declare any obligations of any such Guarantor under this Section 9 hereunder immediately due and payable, and shall be entitled to enforce the obligations of each Guarantor under this Section 9Guarantor. Upon such declaration by Administrative Agent or Lendersthe Agent, Administrative the Agent and Lenders are hereby authorized at any time and from time to time to set off and apply any and all deposits (general or special, time or demand, provisions or final) at any time held and other Indebtedness or other liabilities indebtedness at any time owing by Administrative the Agent or Lenders to or for the credit or the account of such any Guarantor against any and all of the obligations of such each Guarantor now or hereafter existing hereunder, whether or not Administrative the Agent or Xxxxxxx Lenders shall have made any demand hereunder against any Borrower or any other Person Loan Party and although such obligations may be contingent and unmatured. The rights of Administrative the Agent and Xxxxxxx xxxxxxxxx Lenders hereunder are in addition to other rights and remedies (including other rights of set-off) which Administrative the Agent and Lenders may have. Upon such declaration by Xxxxxxxthe Agent, with respect to any claims (other than those claims referred to in the immediately preceding paragraph) of each any Guarantor against any Borrower or any other Guarantors Loan Party (for purposes of this Section 9.10, the “Claims”), each Secured Creditor the Agent shall have the full right on the part of such Secured Creditor the Agent in its own name or in the name of such Guarantor to collect and enforce such Claims by legal action, proof of debt in bankruptcy or other liquidation proceedings, vote in any proceeding for the arrangement of debts at any time proposed, or otherwise, each Secured Creditor the Agent and each of its officers being hereby irrevocably constituted attorneys-in-fact for each Guarantor for the purpose of such enforcement and for the purpose of endorsing in the name of such each Guarantor any instrument for the payment of money. Each Guarantor will receive as trustee for Secured Creditors the Agent and will pay to Secured Creditors the Agent forthwith upon receipt thereof any amounts which such Guarantor may receive from any Borrower or any other Guarantor Loan Party on account of the Claims. Each Guarantor agrees that at no time hereafter will any of the Claims be represented by any notes or notes, other negotiable instruments or writings, except and in such event they shall either be made payable to Administrative the Agent, or if payable to such any Guarantor, shall forthwith be endorsed by such Guarantor to Administrative the Agent. Each Guarantor agrees that no payment on account of the Claims or any security interest therein shall be created, received, accepted or retained during the continuance of any Event of Default nor shall any financing statement be filed with respect thereto by such any Guarantor.

Action Upon Event of Default. Upon the occurrence and during the continuance of any Event of Default, Administrative the Agent or may and upon written request of the Required Lenders mayshall, without notice to or demand upon any Borrower, any Guarantor Credit Party or any other Person, declare any obligations of any such Guarantor under this Section 9 hereunder immediately due and payable, and shall be entitled to enforce the obligations of each Guarantor under this Section 9Guarantor. Upon such declaration by Administrative Agent or Lendersthe Agent, Administrative the Agent and Lenders (and any Affiliates thereof) are hereby authorized at any time and from time to time to set off and apply any and all deposits (general or special, time or demand, provisions or final) at any time held and other Indebtedness or other liabilities indebtedness at any time owing by Administrative the Agent or Lenders (or such Affiliate) to or for the credit or the account of such any Guarantor against any and all of the obligations of such each Guarantor now or hereafter existing hereunder, whether or not Administrative the Agent or Xxxxxxx Lenders shall have made any demand hereunder against any Borrower or any other Person Credit Party and although such obligations may be contingent and unmatured. The rights of Administrative the Agent and Xxxxxxx xxxxxxxxx Lenders hereunder are in addition to other rights and remedies (including other rights of set-off) which Administrative the Agent and Lenders may have. Upon such declaration by Xxxxxxxthe Agent, with respect to any claims (other than those claims referred to in the immediately preceding paragraph) of each any Guarantor against any Borrower or any other Guarantors Credit Party (for purposes of this Section 9.10the "Claims"), the “Claims”), each Secured Creditor Agent shall have the full right on the part of such Secured Creditor the Agent in its own name or in the name of such Guarantor to collect and enforce such Claims by legal action, proof of debt in bankruptcy or other liquidation proceedings, vote in any proceeding for the arrangement of debts at any time proposed, or otherwise, each Secured Creditor the Agent and each of its officers being hereby irrevocably constituted attorneys-in-fact for each Guarantor for the purpose of such enforcement and for the purpose of endorsing in the name of such each Guarantor any instrument for the payment of money. Each Guarantor will receive as trustee for Secured Creditors the Agent and will pay to Secured Creditors the Agent forthwith upon receipt thereof any amounts which such Guarantor may receive from any Borrower or any other Guarantor Credit Party on account of the Claims. Each Guarantor agrees that at no time hereafter will any of the Claims be represented by any notes or notes, other negotiable instruments or writings, except and in such event they shall either be made payable to Administrative the Agent, or if payable to such any Guarantor, shall forthwith be endorsed by such Guarantor to Administrative the Agent. Each Guarantor agrees that no payment on account of the Claims or any security interest therein shall be created, received, accepted or retained during the continuance of any Event of Default nor shall any financing statement be filed with respect thereto by such any Guarantor.

Action Upon Event of Default. Upon the occurrence and during the continuance of any Event of Default, Administrative Agent or may and upon written request of the Required Lenders mayshall, without notice to or demand upon any BorrowerUS Loan Party, any US Guarantor or any other Person, declare all or any obligations portion of any the US Obligations of such US Guarantor under this Section 9 hereunder immediately due and payable, and shall be entitled to enforce the obligations US Obligations of each Guarantor under this Section 9US Guarantor. Upon such declaration by Administrative Agent or LendersAgent, Administrative Agent Agent, Lenders and Lenders any of their Affiliates are hereby authorized at any time and from time to time to set off and apply any and all deposits (general or special, time or demand, provisions provisional or final) at any time held and other Indebtedness or other liabilities at any time owing by Administrative Agent or Lenders to or for the credit or the account of such any US Guarantor against any and all of the obligations US Obligations of such each US Guarantor now or hereafter existing hereunderhereunder in accordance with the terms of this Agreement, whether or not Administrative Agent or Xxxxxxx Lenders shall have made any demand hereunder against any Borrower or any other Person US Loan Party and although such obligations US Obligations may be contingent and unmatured. The rights of Administrative Agent and Xxxxxxx xxxxxxxxx Lenders hereunder are in addition to other rights and remedies (including other rights of set-off) which Administrative Agent and Lenders may have. Upon such declaration by XxxxxxxAgent, with respect to any claims (other than those claims referred to in the immediately preceding paragraph) of each any US Guarantor against any Borrower or any other Guarantors US Loan Party (for purposes of this Section 9.10, the “Claims”), each Secured Creditor Agent shall have the full right on the part of such Secured Creditor Agent in its own name or in the name of such US Guarantor to collect and enforce such Claims by legal action, proof of debt in bankruptcy or other liquidation proceedings, vote in any proceeding for the arrangement of debts at any time proposed, or otherwise, each Secured Creditor Agent and each of its officers being hereby irrevocably constituted attorneys-in-fact for each US Guarantor for the purpose of such enforcement and for the purpose of endorsing in the name of such each US Guarantor any instrument for the payment of money. Each US Guarantor will receive as trustee for Secured Creditors Agent and will pay to Secured Creditors Agent forthwith upon receipt thereof any amounts which such US Guarantor may receive from any Borrower or any other Guarantor US Loan Party on account of the Claims. Each US Guarantor agrees that at no time hereafter will any of the Claims be represented by any notes or other negotiable instruments or writings, except and in such event they shall either be made payable to Administrative Agent, or if payable to such any US Guarantor, shall forthwith be endorsed by such US Guarantor to Administrative Agent. Each US Guarantor agrees that no payment on account of the Claims or any security interest Lien therein shall be created, received, accepted or retained during the continuance of any Event of Default nor shall any UCC financing statement statements or PPSA financing statements be filed with respect thereto by such any US Guarantor.