Common use of Automatic Acceleration in Certain Events Clause in Contracts

Automatic Acceleration in Certain Events. Upon the occurrence of an Event of Default specified in Section 8.07 of the Credit Agreement, all Guaranteed Obligations shall automatically become immediately due and payable by the Guarantors, without notice or other action on the part of the Administrative Agent or other Guaranteed Parties, and regardless of whether payment of the Guaranteed Obligations by Intermet has then been accelerated. In addition, if any event of the types described in Section 8.07 of the Credit Agreement should occur with respect to any Guarantor, then the Guaranteed Obligations shall automatically become immediately due and payable by such Guarantor, without notice or other action on the part of the Administrative Agent or other Guaranteed Parties, and regardless of whether payment of the Guaranteed Obligations by Intermet has then been accelerated.

Appears in 2 contracts

Samples: Guaranty Agreement (Ironton Iron Inc), Guaranty Agreement (Ironton Iron Inc)

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Automatic Acceleration in Certain Events. Upon the occurrence of an Event of Default specified in Section 8.07 of the Credit Agreement, all Guaranteed Obligations shall automatically become immediately due and payable by the Guarantors, without notice or other action on the part of the Administrative Agent or other Guaranteed Parties, and regardless of whether payment of the Guaranteed Obligations by Intermet the Borrower has then been accelerated. In addition, if any event of the types described in Section 8.07 of the Credit Agreement should occur with respect to any Guarantor, then the Guaranteed Obligations shall automatically become immediately due and payable by such Guarantor, without notice or other action on the part of the Administrative Agent or other Guaranteed Parties, and regardless of whether payment of the Guaranteed Obligations by Intermet the Borrower has then been accelerated.

Appears in 1 contract

Samples: Guaranty Agreement (Ironton Iron Inc)

Automatic Acceleration in Certain Events. Upon the occurrence of an Event of Default specified in Section 8.07 of the Credit Term Loan Agreement, all Guaranteed Obligations shall automatically become immediately due and payable by the Guarantors, without notice or other action on the part of the Administrative Agent or other Guaranteed Parties, and regardless of whether payment of the Guaranteed Obligations by Intermet the Borrower has then been accelerated. In addition, if any event of the types described in Section 8.07 of the Credit Term Loan Agreement should occur with respect to any Guarantor, then the Guaranteed Obligations shall automatically become immediately due and payable by such Guarantor, without notice or other action on the part of the Administrative Agent or other Guaranteed Parties, and regardless of whether payment of the Guaranteed Obligations by Intermet the Borrower has then been accelerated.

Appears in 1 contract

Samples: Guaranty Agreement (Ironton Iron Inc)

Automatic Acceleration in Certain Events. Upon the occurrence of an Event of Default specified in Section 8.07 9.07 of the Credit Agreement, all Guaranteed Obligations shall automatically become immediately due and payable by the Guarantors, without notice or other action on the part of the Administrative Collateral Agent or other Guaranteed Parties, and regardless of whether payment of the Guaranteed Obligations by Intermet any Borrower has then been accelerated. In addition, if any event of the types described in Section 8.07 9.07 of the Credit Agreement should occur with respect to any Guarantor, then the Guaranteed Obligations shall automatically become immediately due and 144 payable by such Guarantor, without notice or other action on the part of the Administrative Collateral Agent or other Guaranteed Parties, and regardless of whether payment of the Guaranteed Obligations by Intermet any Borrower has then been accelerated.

Appears in 1 contract

Samples: Contribution Agreement (Dyersburg Corp)

Automatic Acceleration in Certain Events. Upon the occurrence of an Event of Default specified in Section 8.07 9.07 of the Credit Agreement, all Guaranteed Obligations shall automatically become immediately due and payable by the GuarantorsGuarantor, without notice or other action on the part of the Administrative Collateral Agent or other Guaranteed Parties, and regardless of whether payment of the Guaranteed Obligations by Intermet the Subsidiary Borrowers has then been accelerated. In addition, if any event of the types described in Section 8.07 9.07 of the Credit Agreement should occur with respect to any Guarantor, then the Guaranteed Obligations shall automatically become immediately due and payable by such Guarantor, without notice or other action on the part of the Administrative Collateral Agent or other Guaranteed Parties, and regardless of whether payment of the Guaranteed Obligations by Intermet any of the Subsidiary Borrowers has then been accelerated.

Appears in 1 contract

Samples: Contribution Agreement (Dyersburg Corp)

Automatic Acceleration in Certain Events. Upon the occurrence of an Event of Default specified in Section 8.07 of the Credit Agreement, all Guaranteed Obligations shall automatically become immediately due and payable by the Guarantors, without notice or other action on the part of the Administrative Agent or other Guaranteed Parties, and regardless of whether payment of the Guaranteed Obligations by Intermet any Primary Obligor has then been accelerated. In addition, if any event of the types described in Section 8.07 of the Credit Agreement should occur with respect to any Guarantor, then the Guaranteed Obligations shall automatically become immediately due and payable by such Guarantor, without notice or other action on the part of the Administrative Agent or other Guaranteed Parties, and regardless of whether payment of the Guaranteed Obligations by Intermet any Primary Obligor has then been accelerated.

Appears in 1 contract

Samples: Guaranty Agreement (Ironton Iron Inc)

Automatic Acceleration in Certain Events. Upon the occurrence of an Event of Default specified in Section 8.07 of the Credit Agreement, all Guaranteed Obligations shall automatically become immediately due and payable by the GuarantorsGuarantor, without notice or other action on the part of the Administrative Agent or other Guaranteed Parties, and regardless of whether payment of the Guaranteed Obligations by Intermet the Borrower has then been accelerated. In addition, if any event of the types described in Section 8.07 of the Credit Agreement should occur with respect to any the Guarantor, then the Guaranteed Obligations shall automatically become immediately due and payable by such the Guarantor, without notice or other action on the part of the Administrative Agent or other Guaranteed Parties, and regardless of whether payment of the Guaranteed Obligations by Intermet the Borrower has then been accelerated.

Appears in 1 contract

Samples: Credit Agreement (Morrison Health Care Inc)

Automatic Acceleration in Certain Events. Upon the occurrence of an Event of Default specified in Section 8.07 11.6 or Section 11.7 of the Credit Agreement, all Guaranteed Obligations shall automatically become immediately due and payable by the Guarantors, jointly and severally, without notice or other action on the part of the Administrative Agent or other Guaranteed Parties, and regardless of whether payment of the Guaranteed Obligations by Intermet the Company has then been accelerated. In addition, if any event of the types Events of Default described in Section 8.07 11.6 or Section 11.7 of the Credit Agreement should occur with respect to any Guarantor, then the Guaranteed Obligations shall automatically become immediately due and payable by such Guarantorthe Guarantors, jointly and severally, without notice or other action on the part of the Administrative Agent or other Guaranteed Parties, and regardless of whether payment of the Guaranteed Obligations by Intermet the Company has then been accelerated.

Appears in 1 contract

Samples: Credit Agreement (American Health Properties Inc)

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Automatic Acceleration in Certain Events. Upon the occurrence of an Event of Default specified in Section 8.07 of the Credit Agreement, all Guaranteed Obligations shall automatically become immediately due and payable by the Guarantors, without notice or other action on the part of the Administrative Agent or other Guaranteed Parties, and regardless of whether payment of the Guaranteed Obligations by Intermet Haverty has then been accelerated. In addition, if any event of the types described in Section 8.07 of the Credit Agreement should occur with respect to any Guarantor, then the Guaranteed Obligations shall automatically become immediately due and payable by such Guarantor, without notice or other action on the part of the Administrative Agent or other Guaranteed Parties, and regardless of whether payment of the Guaranteed Obligations by Intermet Haverty has then been accelerated.

Appears in 1 contract

Samples: Credit Agreement (Haverty Furniture Companies Inc)

Automatic Acceleration in Certain Events. Upon the occurrence of an Event of Default specified in Section 8.07 10.07 of the Credit Agreement, all Guaranteed Obligations shall automatically become immediately due and payable by the Guarantors, without notice or other action on the part of the Administrative Agent or other Guaranteed Parties, and regardless of whether payment of the Guaranteed Obligations by Intermet has then been accelerated. In addition, if any event of the types described in Section 8.07 10.07 of the Credit Agreement should occur with respect to any Guarantor, then the Guaranteed Obligations shall automatically become immediately due and payable by such Guarantor, without notice or other action on the part of the Administrative Agent or other Guaranteed Parties, and regardless of whether payment of the Guaranteed Obligations by Intermet has then been accelerated.

Appears in 1 contract

Samples: Subsidiary Guaranty Agreement (Intermet Corp)

Automatic Acceleration in Certain Events. Upon the occurrence of an Event of Default specified in Section 8.07 of the Credit Agreement, all Guaranteed Obligations shall automatically become immediately due and payable by the GuarantorsGuarantor, without notice or other action on the part of the Administrative Agent or other Guaranteed PartiesLender, and regardless of whether payment of the Guaranteed Obligations by Intermet Borrower has then been accelerated. In addition, if any event of the types described in Section 8.07 of the Credit Agreement should occur with respect to any Guarantor, then the Guaranteed Obligations shall automatically become immediately due and payable by such Guarantor, without notice or other action on the part of the Administrative Agent or other Guaranteed PartiesLender, and regardless of whether payment of the Guaranteed Obligations by Intermet Borrower has then been accelerated.

Appears in 1 contract

Samples: Guaranty Agreement (Caraustar Industries Inc)

Automatic Acceleration in Certain Events. Upon the occurrence of an Event of Default specified in Section 8.07 Article 9 of the Credit Agreement, all Guaranteed Obligations shall automatically become immediately due and payable by the Guarantors, without notice or other action on the part of the Administrative Agent or other Guaranteed Parties, and regardless of whether payment of the Guaranteed Obligations by Intermet the Borrower has then been accelerated. In addition, if any event of the types described in Section 8.07 Article 9 of the Credit Agreement should occur with respect to any Guarantor, then the Guaranteed Obligations shall automatically become immediately due and payable by such Guarantor, without notice or other action on the part of the Administrative Agent or other Guaranteed Parties, and regardless of whether payment of the Guaranteed Obligations by Intermet the Borrower has then been accelerated.

Appears in 1 contract

Samples: Security Agreement (Able Telcom Holding Corp)

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