Common use of Automatic Acceleration and Termination of Facilities Clause in Contracts

Automatic Acceleration and Termination of Facilities. Upon the occurrence of an Event of Default specified in SECTION 10.1(e) or (f), (i) the principal of and the interest on the Loans and the Notes at the time outstanding, and all other amounts owed to the Lender under this Agreement or any of the Loan Documents and all other Obligations, shall thereupon become due and payable without presentment, demand, protest, notice of protest and non-payment, notice of default, notice of acceleration or intention to accelerate, or other notice of any kind, all of which are expressly waived, anything in this Agreement or any of the Loan Documents to the contrary notwithstanding, and (ii) the Revolving Credit Facility and the commitment of the Lender to make advances thereunder or under this Agreement shall immediately terminate.

Appears in 1 contract

Samples: Loan and Security Agreement (TBM Holdings Inc)

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Automatic Acceleration and Termination of Facilities. Upon the occurrence of an Event of Default specified in SECTION with respect to Borrower under Section 10.1(e) or (f), (i) the principal of and the accrued interest on the Loans and the Notes at the time outstanding, and all other amounts owed to the Lender under this Agreement or any of the Loan Documents and all other Obligations, shall thereupon become due and payable without presentment, demand, protest, notice of protest and non-payment, notice of default, notice of acceleration or intention to accelerate, or other notice of any kind, all of which are expressly waived, anything in this Agreement or any of the Loan Documents to the contrary notwithstanding, and (ii) the Revolving Credit Facility and the commitment of the Lender to make advances thereunder or under this Agreement Loans hereunder shall immediately terminate.

Appears in 1 contract

Samples: Loan and Security Agreement (Radisys Corp)

Automatic Acceleration and Termination of Facilities. Upon the occurrence of an Event of Default specified in SECTION with respect to Borrower under Section 10.1(e) or (f)ID, (i) the principal of and the accrued interest on the Loans and the Notes at the time outstanding, and all other amounts owed to the Lender under this Agreement or any of the Loan Documents and all other Obligations, shall thereupon become due and payable without presentment, demand, protest, notice of protest and non-payment, notice of default, notice of acceleration or intention to accelerate, or other notice of any kind, all of which are expressly waived, anything in this Agreement or any of the Loan Documents to the contrary notwithstanding, and (ii) the Revolving Credit Facility and the commitment of the Lender to make advances thereunder or under this Agreement Loans hereunder shall immediately terminate.

Appears in 1 contract

Samples: Loan and Security Agreement (Tattooed Chef, Inc.)

Automatic Acceleration and Termination of Facilities. Upon the occurrence and during the continuance of an Event of Default specified in SECTION 10.1(e) or (f)Default, (i) the principal of and the accrued interest on the Loans and the Notes at the time outstanding, the Termination Fee, and all other amounts owed to the Lender under this Agreement or any of the Loan Documents and all other Obligations, shall thereupon become due and payable without presentment, demand, protest, notice of protest and non-payment, notice of default, notice of acceleration or intention to accelerate, or other notice of any kind, all of which are expressly waived, anything in this Agreement or any of the Loan Documents to the contrary notwithstanding, and (ii) the Revolving Credit Facility and the commitment of the Lender to make advances thereunder or under this Agreement Loans hereunder shall immediately terminate.

Appears in 1 contract

Samples: Loan and Security Agreement (Zynex Inc)

Automatic Acceleration and Termination of Facilities. Upon the occurrence of an Event of Default specified in SECTION 10.1(e) or (f)Default, (i) the principal of and the accrued interest on the Loans and the Notes at the time outstanding, the Early Termination Fee, and all other amounts owed to the Lender under this Agreement or any of the Loan Documents and all other Obligations, shall thereupon become due and payable without presentment, demand, protest, notice of protest and non-payment, notice of default, notice of acceleration or intention to accelerate, or other notice of any kind, all of which are expressly waived, anything in this Agreement or any of the Loan Documents to the contrary notwithstanding, and (ii) the Revolving Credit Facility and the commitment of the Lender to make advances thereunder or under this Agreement Loans hereunder shall immediately terminate.

Appears in 1 contract

Samples: Loan and Security Agreement (ScripsAmerica, Inc.)

Automatic Acceleration and Termination of Facilities. Upon the occurrence of an Event of Default specified in SECTION 10.1(eSection 10.1 (e) or (f), (i) the principal of and the interest on the Loans Revolving Loan and the Notes Revolving Note at the time outstanding, and all other amounts owed to the Lender under this Agreement or any of the Loan Documents and all other Obligations, shall thereupon become due and payable without presentment, demand, protest, notice of protest and non-payment, notice of default, notice of acceleration or intention to accelerate, or other notice of any kind, all of which are expressly waived, anything in this Agreement or any of the Loan Documents to the contrary notwithstanding, and (ii) the Revolving Credit Facility and the commitment of the Lender to make advances thereunder or under this Agreement hereunder shall immediately terminate.

Appears in 1 contract

Samples: Loan and Security Agreement (Dallas Gold & Silver Exchange Inc /Nv/)

Automatic Acceleration and Termination of Facilities. Upon the occurrence of an Event of Default specified in SECTION Section 10.1(e) or (ff)(ii), (i) the principal of and the accrued interest on the Loans and the Notes at the time outstanding, and all other amounts owed to the Lender under this Agreement or any of the Loan Documents and all other Obligations, shall thereupon become due and payable without presentment, demand, protest, notice of protest and non-payment, notice of default, notice of acceleration or intention to accelerate, or other notice of any kind, all of which are expressly waived, anything in this Agreement or any of the Loan Documents to the contrary notwithstanding, and (ii) the Revolving Credit Facility and the commitment of the Lender to make advances thereunder or under this Agreement Loans hereunder shall immediately terminate.

Appears in 1 contract

Samples: Loan and Security Agreement (Mendocino Brewing Co Inc)

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Automatic Acceleration and Termination of Facilities. Upon the occurrence of an Event of Default specified in SECTION 10.1(e11.1(G) or OR (fH), (i) the principal of and the interest on the Loans and the Notes at the time outstanding, and all other amounts owed to the Lender Agent and the Lenders under this Agreement or any of the Loan Documents and all other ObligationsSecured Obligations (including, without limitation, any fees accrued under ARTICLE 3) shall thereupon become due and payable without presentment, demand, protest, notice of protest and non-payment, notice of default, notice of acceleration or intention to accelerate, or other notice of any kind, all of which are expressly waived, anything in this Agreement or any of the Loan Documents to the contrary notwithstanding, and (ii) the Revolving Credit Facility Commitments and the commitment any obligation of the Lender Lenders to make advances thereunder or under this Agreement Loans hereunder shall immediately terminate.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Synthetic Industries Inc)

Automatic Acceleration and Termination of Facilities. Upon the occurrence of an Event of Default specified in SECTION with respect to any Loan Party under Sections 10.1(e) or (f10.1(f), (i) the principal of and the accrued interest on the Loans and the Notes at the time outstanding, and all other amounts owed to the Lender under this Agreement or any of the Loan Documents and all other Obligations, shall thereupon become due and payable without presentment, demand, protest, notice of protest and non-payment, notice of default, notice of acceleration or intention to accelerate, or other notice of any kind, all of which are expressly waived, anything in this Agreement or any of the Loan Documents to the contrary notwithstanding, and (ii) the Revolving Credit Facility and the commitment of the Lender to make advances thereunder or under this Agreement Loans hereunder shall immediately terminate.

Appears in 1 contract

Samples: Loan and Security Agreement (Scott's Liquid Gold - Inc.)

Automatic Acceleration and Termination of Facilities. Upon the occurrence of an Event of Default specified in SECTION 10.1(e10.1 (e) or (f), (i) the principal of and the interest on the Loans and the Notes at the time outstanding, and all other amounts owed to the Lender under this Agreement or any of the Loan Documents and all other Obligations, shall thereupon become due and payable without presentment, demand, protest, notice of protest and non-payment, notice of default, notice of acceleration or intention to accelerate, or other notice of any kind, all of which are expressly waived, anything in this Agreement or any of the Loan Documents to the contrary notwithstanding, and (ii) the Revolving Credit Facility and the commitment of the Lender to make advances thereunder or under this Agreement hereunder shall immediately terminate.

Appears in 1 contract

Samples: Loan and Security Agreement (White Electronic Designs Corp)

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