Common use of Cancellation/Acceleration Clause in Contracts

Cancellation/Acceleration. If at any time and for any reason (and whether within or beyond the control of the Borrower) any Event of Default has occurred and is subsisting, the Agent, if so instructed by the Majority Banks, shall by notice to the Borrower declare: (a) the Commitments to be cancelled, whereupon they shall be cancelled and/or (b) all Advances, all unpaid accrued interest and fees and any other sum then payable under this Agreement to be immediately due and payable, whereupon they shall become so due and payable.

Cancellation/Acceleration. If at any time and for any reason (and whether within or beyond the control of the Borrower) any Event of Default has occurred and is subsisting, the Agent, if so instructed by the Majority Banks, shall by notice to the Borrower declare: (a) the Commitments to be cancelled, whereupon they shall be cancelled and/or (b) all Advances, all unpaid accrued interest and fees and any other sum then payable under this Agreement to be immediately due and payable, whereupon they shall become so due and payable.

Cancellation/Acceleration. If at any time and for any reason (and whether within or beyond the control of the Borrowerany party to this Agreement) any Termination Event of Default has occurred and is subsistingcontinuing then at any time thereafter, the AgentAgent may and, if so instructed by the Majority BanksLenders, shall by notice to the Borrower declare: (a1) the Commitments to be cancelled, whereupon they shall be cancelled so cancelled; and/or (b2) all Advancesthe Loan, all unpaid accrued interest and or fees and any other sum sums then payable under this Agreement to be immediately due and payable, whereupon they shall become so due and payable.