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 7.1(f) or (g) of the Credit Agreement, all Guaranteed Obligations shall automatically become immediately due and payable by 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 the Borrower has then been accelerated.

Appears in 6 contracts

Samples: Holdings Guaranty Agreement (Transocean Ltd.), Holdings Guaranty Agreement (Transocean Ltd.), Holdings Guaranty Agreement (Transocean Ltd.)

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Automatic Acceleration in Certain Events. Upon the occurrence of an Event of Default specified in Section 7.1(f) or (g) of the Credit Agreement, all Guaranteed Obligations shall automatically become immediately due and payable by the GuarantorGuarantors, 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 the Borrower has then been accelerated.

Appears in 1 contract

Samples: Credit Agreement (Transocean Ltd.)

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Automatic Acceleration in Certain Events. Upon the occurrence of an Event of Default specified in Section 7.1(f9.01(g) or (g9.01(h) of the Credit Agreement, all Guaranteed Obligations shall automatically become immediately due and payable by the GuarantorGuarantors, without notice presentment, demand, protest or other action on the part notice of the Administrative Agent or other Guaranteed Partiesany kind, all of which are hereby waived by each Guarantor, and regardless of whether payment of the Guaranteed Obligations by the Borrower Borrowers has then been accelerated.

Appears in 1 contract

Samples: Guaranty Agreement (Weatherford International Ltd./Switzerland)

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