Common use of Automatic Clause in Contracts

Automatic. Upon the occurrence of an Event of Default specified in Sections 10.1(f) or 10.1(g) with respect to the Borrower, (A)(i) the principal of, and all accrued interest on, the Loans and the Notes at the time outstanding and (ii) all of the other Obligations of the Borrower, including, but not limited to, the other amounts owed to the Lenders and the Agent under this Agreement, the Notes or any of the other Loan Documents shall become immediately and automatically due and payable by the Borrower without presentment, demand, protest, or other notice of any kind, all of which are expressly waived by the Borrower and (B) all of the Commitments and the obligation of the Lenders to make Loans shall all immediately and automatically terminate without demand or notice of any kind.

Appears in 5 contracts

Samples: Term Loan Agreement (Columbia Property Trust, Inc.), Term Loan Agreement (Columbia Property Trust, Inc.), Term Loan Agreement (Columbia Property Trust, Inc.)

AutoNDA by SimpleDocs

Automatic. Upon the occurrence of an Event of Default specified in Sections 10.1(f11.1.(e) or 10.1(g) with respect to the Borrower11.1.(f), (A)(i1)(A) the principal of, and all accrued interest on, the Loans and the Notes at the time outstanding outstanding, and (iiB) all of the other Obligations of the Borrower, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents shall become immediately and automatically due and payable by the Borrower without presentment, demand, protest, or other notice of any kind, all of which are expressly waived by the Borrower Borrower, and (B2) all of the Commitments and the obligation of the Lenders to make Loans hereunder shall all immediately and automatically terminate without demand or notice of any kindterminate.

Appears in 5 contracts

Samples: Credit Agreement (Chesapeake Lodging Trust), Credit Agreement (Chesapeake Lodging Trust), Credit Agreement (Chesapeake Lodging Trust)

Automatic. Upon the occurrence of an Event of Default specified in Sections 10.1(f11.1.(e) or 10.1(g) with respect to the Borrower11.1.(f), (A)(i) the principal of, and all accrued interest on, the Loans Loan and the Notes at the time outstanding outstanding, any prepayment premium (if applicable) under Section 2.8. and (ii) all of the other Obligations of the Borrower, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents shall become immediately and automatically due and payable by the Borrower without presentment, demand, protest, or other notice of any kind, all of which are expressly waived by the Borrower and (B) all on behalf of the Commitments itself and the obligation of the Lenders to make Loans shall all immediately and automatically terminate without demand or notice of any kindother Loan Parties.

Appears in 4 contracts

Samples: Term Loan Agreement (RLJ Lodging Trust), Term Loan Agreement (RLJ Lodging Trust), Term Loan Agreement (RLJ Lodging Trust)

Automatic. Upon the occurrence of an Event of Default specified in Sections 10.1(f11.1(e) or 10.1(g) with respect to the Borrower11.1(f), (A)(i) the principal of, and all accrued interest on, the Loans Loan and the Notes at the time outstanding outstanding, any prepayment premium (if applicable) under Section 2.8 and (ii) all of the other Obligations of the Borrower, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents shall become immediately and automatically due and payable by the Borrower without presentment, demand, protest, or other notice of any kind, all of which are expressly waived by the Borrower and (B) all on behalf of the Commitments itself and the obligation of the Lenders to make Loans shall all immediately and automatically terminate without demand or notice of any kindother Loan Parties.

Appears in 2 contracts

Samples: Term Loan Agreement (RLJ Lodging Trust), Term Loan Agreement (RLJ Lodging Trust)

Automatic. Upon the occurrence of an Event of Default specified in Sections 10.1(f) or 10.1(g) with respect to the Borrower, (A)(i) the principal of, and all accrued interest on, the Loans and the Notes at the time outstanding and (ii) all of the other Obligations of the Borrower, including, but not limited to, the other amounts owed to the Lenders and the Agent under this Agreement, the Notes or any of the other Loan Documents shall become immediately and automatically due and payable by the Borrower without presentment, demand, protest, or other notice of any kind, all of which are expressly waived by the Borrower and (B) all of the Commitments and the obligation of the Lenders to make Loans shall all immediately and automatically terminate without demand or notice of any kind.. (ii)

Appears in 2 contracts

Samples: Term Loan Agreement, Term Loan Agreement

Automatic. Upon the occurrence of an Event of Default specified in Sections 10.1(f10.1.(f) or 10.1(g) with respect to the Borrower10.1.(g), (A)(i) the A)the principal of, and all accrued interest on, the Loans and the Notes at the time outstanding outstanding, and (iiB) all of the other Obligations of the Borrower, including, but not limited to, the other amounts owed to the Lenders and the Agent under this Agreement, the Notes or any of the other Loan Documents shall become immediately and automatically due and payable by the Borrower without presentment, demand, protest, or other notice of any kind, all of which are expressly waived by the Borrower and (B) all of the Commitments and the obligation of the Lenders to make Loans shall all immediately and automatically terminate without demand or notice of any kindBorrower.

Appears in 2 contracts

Samples: Term Loan Agreement (Corporate Office Properties Trust), Term Loan Agreement (Corporate Office Properties Trust)

Automatic. Upon the occurrence of an Event of Default specified in Sections 10.1(f11.1(e) or 10.1(g11.1(f) with respect to the Parent or the Borrower, (A)(i1)(A) the principal of, and all accrued interest on, the Loans and the Term Notes at the time outstanding and (iiB) all of the other Obligations of the BorrowerObligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Term Notes or any of the other Loan Documents shall become immediately and automatically due and payable by the Borrower without presentment, demand, protest, or other notice of any kind, all of which are expressly waived by the Borrower Parent and the Borrower, each on behalf of itself and the other Loan Parties, and (B2) all of the Commitments and the obligation of the Lenders to make Loans shall all immediately and automatically terminate without demand or notice of any kindterminate.

Appears in 1 contract

Samples: Credit Agreement (VEREIT Operating Partnership, L.P.)

Automatic. Upon the occurrence of an Event of Default specified in Sections 10.1(f11.1.(e) or 10.1(g) with respect to the Borrower11.1.(f), (A)(i1) (A) the principal of, and all accrued interest on, the Loans and the Notes at the time outstanding and (iiB) all of the other Obligations of the BorrowerBorrowers, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents or the Fee Letters shall become immediately and automatically due and payable by the each Borrower without presentment, demand, protest, or other notice of any kind, all of which are expressly waived by such Borrower on behalf of itself and the Borrower other Loan Parties, and (B2) all of the Commitments and the obligation of the Lenders to make Loans hereunder shall all immediately and automatically terminate without demand or notice of any kindterminate.

Appears in 1 contract

Samples: Loan Agreement (Park Hotels & Resorts Inc.)

Automatic. Upon the occurrence of an Event of Default specified --------- in Sections 10.1(f11.1.(f) or 10.1(g) with respect to the Borrower11.1.(g), (A)(iA) the principal of, and all accrued interest on, the Loans Loan and the Notes at the time outstanding outstanding, and (iiB) all of the other Obligations of the Borrower, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents shall become immediately and automatically due and payable by the Borrower without presentment, demand, protest, or other notice of any kind, all of which are expressly waived by the Borrower and (B) all of the Commitments and the obligation of the Lenders to make Loans shall all immediately and automatically terminate without demand or notice of any kindBorrower.

Appears in 1 contract

Samples: Term Loan Agreement (Federal Realty Investment Trust)

Automatic. Upon the occurrence of an Event of Default specified in Sections 10.1(f11.1.(e) or 10.1(g) with respect to the Borrower11.1.(f), (A)(i1) (A) the principal of, and all accrued interest on, the Loans and the Notes at the time outstanding and (iiB) all of the other Obligations of the BorrowerBorrowers, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents or the Fee LetterLetters shall become immediately and automatically due and payable by the each Borrower without presentment, demand, protest, or other notice of any kind, all of which are expressly waived by such Borrower on behalf of itself and the Borrower other Loan Parties, and (B2) all of the Commitments and the obligation of the Lenders to make Loans hereunder shall all immediately and automatically terminate without demand or notice of any kindterminate.

Appears in 1 contract

Samples: Loan Agreement (Park Hotels & Resorts Inc.)

Automatic. Upon the occurrence of an Event of Default specified in Sections 10.1(f) or 10.1(g) with respect to the Borrower, (A)(iA) the principal of, and all accrued interest on, the Loans and the Notes at the time outstanding and outstanding, (iiB) all of the other Obligations of the Borrower, including, but not limited to, the other amounts owed to the Lenders and the Agent under this Agreement, the Notes or any of the other Loan Documents shall become immediately and automatically due and payable by the Borrower without presentment, demand, protest, or other notice of any kind, all of which are expressly waived by the Borrower and (BC) all of the any Commitments and the obligation of the Lenders to make Loans shall all immediately and automatically terminate without demand or notice of any kindterminate.

Appears in 1 contract

Samples: Term Loan Agreement (Columbia Property Trust, Inc.)

Automatic. Upon the occurrence of an Event of Default specified in Sections 10.1(f11.1.(e) or 10.1(g11.1.(f) with respect to the BorrowerBorrower or the Parent, (A)(i1)(A) the principal of, and all accrued interest on, the Loans and the Notes at the time outstanding outstanding, (B) [reserved] and (iiC) all of the other Obligations of the BorrowerObligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents shall become immediately and automatically due and payable by the Borrower without presentment, demand, protest, or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (B2) all of the Commitments and the obligation of the Lenders to make Loans shall all immediately and automatically terminate without demand or notice of any kindterminate.

Appears in 1 contract

Samples: Term Loan Agreement (NETSTREIT Corp.)

Automatic. Upon the occurrence of an Event of Default specified in Sections 10.1(f10.1.(e) or 10.1(g) with respect to the Borrower10.1.(f), (A)(i) the principal of, and all accrued interest on, the Loans and the Notes at the time outstanding and (ii) all of the other Obligations of the Borrower, including, but not limited to, the other amounts owed to the Lenders Lenders, the Agent and the Agent Swingline Lender under this Agreement, the Notes or any of the other Loan Documents shall become immediately and automatically due and payable by the Borrower without presentment, demand, protest, or other notice of any kind, all of which are expressly waived by the Borrower and (B) all of the Commitments and the obligation of the Lenders to make Loans Swingline Commitment shall all immediately and automatically terminate without demand or notice of any kindterminate.

Appears in 1 contract

Samples: Credit Agreement (Physicians Specialty Corp)

AutoNDA by SimpleDocs

Automatic. Upon the occurrence of an Event of Default specified in Sections 10.1(f10.1.(f) or 10.1(g) with respect to the Borrower10.1.(g), (A)(i) the principal of, and all accrued interest on, the Loans and the Notes at the time outstanding and (ii) all of the other Obligations of the Borrower, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents shall become immediately and automatically due and LEGAL02/36006473v7 payable by the Borrower without presentment, demand, protest, or other notice of any kind, all of which are expressly waived by the Borrower and (B) all of the Commitments and the obligation of the Lenders to make Loans shall all immediately and automatically terminate without demand or notice of any kindterminate.

Appears in 1 contract

Samples: Term Loan Agreement (Corporate Office Properties, L.P.)

Automatic. Upon the occurrence of an Event of Default specified in Sections 10.1(f11.1.(e) or 10.1(g) with respect to the Borrower11.1.(f), (A)(i1) (A) the principal of, and all accrued interest on, the Loans and the Notes at the time outstanding and (iiB) all of the other Obligations of the BorrowerBorrowers, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents or the Fee Letter shall become immediately and automatically due and payable by the each Borrower without presentment, demand, protest, or other notice of any kind, all of which are expressly waived by such Borrower on behalf of itself and the Borrower other Loan Parties, and (B2) all of the Commitments and the obligation of the Lenders to make Loans hereunder shall all immediately and automatically terminate without demand or notice of any kindterminate.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Park Hotels & Resorts Inc.)

Automatic. Upon the occurrence of an Event of Default specified in Sections 10.1(f) or 10.1(g) with respect to the Borrower, (A)(i) the principal of, and all accrued interest on, the Loans and the Notes at the time outstanding outstanding, and (ii) all of the other Obligations of the Borrower, including, but not limited to, the other amounts owed to the Lenders and the Agent under this Agreement, the Notes or any of the other Loan Documents shall become immediately and automatically due and payable by the Borrower without presentment, demand, protest, or other notice of any kind, all of which are expressly waived by the Borrower and (B) all of the Commitments and the obligation of the Lenders to make Loans Loans, shall all immediately and automatically terminate without demand or notice of any kindterminate.

Appears in 1 contract

Samples: Credit Agreement (Wells Real Estate Investment Trust Ii Inc)

Automatic. Upon the occurrence of an Event of Default specified in Sections 10.1(fSection 11.1(f) or 10.1(g) with respect to the Borrower11.1(g), (A)(i) the principal of, and all accrued interest on, the Loans and the Term Notes at the time outstanding outstanding, and (ii) all of the other Obligations (other than obligations in respect of the BorrowerDerivatives Contracts), including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Term Notes or any of the other Loan Documents shall become immediately and automatically due and payable by the Borrower without presentment, demand, protest, or other notice of any kind, all of which are expressly waived by the Borrower and (B) all of the Commitments and Commitments, the obligation of the Lenders to make Loans shall all immediately and automatically terminate without demand or notice of any kindterminate.

Appears in 1 contract

Samples: Credit Agreement (National Storage Affiliates Trust)

Automatic. Upon the occurrence of an Event of Default specified in Sections 10.1(f10.1.(f) or 10.1(g) with respect to the Borrower10.1.(g), (A)(i) the principal of, and all accrued interest on, the Loans and the Notes at the LEGAL02/38482536v6 time outstanding and (ii) all of the other Obligations of the Borrower, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents shall become immediately and automatically due and payable by the Borrower without presentment, demand, protest, or other notice of any kind, all of which are expressly waived by the Borrower and (B) all of the Commitments and the obligation of the Lenders to make Loans shall all immediately and automatically terminate without demand or notice of any kindterminate.

Appears in 1 contract

Samples: Term Loan Agreement (Corporate Office Properties, L.P.)

Automatic. Upon the occurrence of an Event of Default specified in Sections 10.1(f11.1.(e) or 10.1(g11.1.(f) with respect to the BorrowerBorrower or the Parent, (A)(i1)(A) the principal of, and all accrued interest on, the Loans and the Notes at the time outstanding outstanding, (B) [Reserved] and (iiC) all of the other Obligations of the BorrowerObligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents shall become immediately and automatically due and payable by the Borrower without presentment, demand, protest, or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (B2) all of the Commitments and the obligation of the Lenders to make Loans shall all immediately and automatically terminate without demand or notice of any kindterminate.

Appears in 1 contract

Samples: Credit Agreement (NETSTREIT Corp.)

Automatic. Upon the occurrence of an Event of Default specified in Sections Section 10.1(f) or Section 10.1(g) with respect to the Borrower), (A)(i1)(A) the principal of, and all accrued interest on, the Loans and the Notes at the time outstanding outstanding, and (iiB) all of the other Obligations of the BorrowerObligations, including, but not limited to, the other amounts owed to the Lenders (and any Affiliate thereof) and the Administrative Agent under this Agreement, the Notes or Notes, any of the other Loan Documents or the Fee Letters shall become immediately and automatically due and payable by the Borrower without presentment, demand, protest, or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (B2) all of the Commitments and the obligation of the Lenders (including any commitment to make Loans any Additional Loan) shall all immediately and automatically terminate without demand or notice of any kindterminate.

Appears in 1 contract

Samples: Term Loan Agreement (Colonial Realty Limited Partnership)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!