Common use of Certain Rights Upon Facility Termination Event Clause in Contracts

Certain Rights Upon Facility Termination Event. (a) In addition to the rights and remedies specified in SECTION 14.2, if a Facility Termination Event shall have occurred and be continuing, the Agent may direct the Collateral Agent to exercise any of the remedies specified in the Collateral Agent Agreement or available to the Collateral Agent as a secured party under the UCC in respect of the Borrower Collateral (or any portion thereof). (b) The rights and remedies provided to the Collateral Agent, the Agent and the Secured Parties herein and in the other Transaction Documents are cumulative and not exclusive of any other rights and remedies the Collateral Agent, the Agent and the Secured Parties may have under applicable law. (c) If a Facility Termination Event shall have occurred and be continuing, then at any time after the acceleration of the maturity of the Advances and other Obligations has been made and before a judgment or decree for payment of the money due has been obtained by the Agent as hereinafter provided, the Required Lenders, by written notice to the Borrower and the Agent, may rescind and annul such declaration and its consequences if: (i) the Borrower has paid or deposited with the Agent a sum sufficient to pay (A) all payments of principal of and Yield on the Advances and all other amounts that would then be due hereunder or if the Facility Termination Event giving rise to such acceleration had not occurred; and (B) all sums paid or advanced by the Agent hereunder and the reasonable compensation, expenses, disbursements and advances of the Agent and its agents and counsel; and (ii) all Facility Termination Events, other than the nonpayment of the principal of the Advances that has become due solely by such acceleration, have been cured or waived. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Certain Rights Upon Facility Termination Event. (a) In addition to the rights and remedies specified in SECTION Section 14.2, if a ------------ Facility Termination Event shall have occurred and be continuing, the Agent may direct the Collateral Agent to exercise any of the remedies specified in the Collateral Agent Security Agreement or available to the Collateral Agent as a secured party under the UCC in respect of the Borrower Collateral (or any portion thereof). (b) The rights and remedies provided to the Collateral Agent, the Agent and the Secured Parties herein and in the other Transaction Documents are cumulative and not exclusive of any other rights and remedies the Collateral Agent, the Agent and the Secured Parties may have under applicable law. (c) If a Facility Termination Event shall have occurred and be continuing, then at any time after the acceleration of the maturity of the Advances and other Obligations has been made and before a judgment or decree for payment of the money due has been obtained by the Agent as hereinafter provided, the Required Lenders, by written notice to the Borrower and the Agent, may rescind and annul such declaration and its consequences if: (i) the Borrower has paid or deposited with the Agent a sum sufficient to pay (A) all payments of principal of and Yield on the Advances and all other amounts that would then be due hereunder or if the Facility Termination Event giving rise to such acceleration had not occurred; and (B) all sums paid or advanced by the Agent hereunder and the reasonable compensation, expenses, disbursements and advances of the Agent and its agents and counsel; and (ii) all Facility Termination Events, other than the nonpayment of the principal of the Advances that has become due solely by such acceleration, have been cured or waived. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Certain Rights Upon Facility Termination Event. (a) In addition to the rights and remedies specified in SECTION Section 14.2, ------------ if a Facility Termination Event shall have occurred and be continuing, the Agent may direct the Collateral Agent to exercise any of the remedies specified in the Collateral Agent Security Agreement or available to the Collateral Agent as a secured party under the UCC in respect of the Borrower Collateral (or any portion thereof). (b) The rights and remedies provided to the Collateral Agent, the Agent and the Secured Parties herein and in the other Transaction Documents are cumulative and not exclusive of any other rights and remedies the Collateral Agent, the Agent and the Secured Parties may have under applicable law. (c) If a Facility Termination Event shall have occurred and be continuing, then at any time after the acceleration of the maturity of the Advances and other Obligations has been made and before a judgment or decree for payment of the money due has been obtained by the Agent as hereinafter provided, the Required Lenders, by written notice to the Borrower and the Agent, may rescind and annul such declaration and its consequences if: (i) the Borrower has paid or deposited with the Agent a sum sufficient to pay (A) all payments of principal of and Yield on the Advances and all other amounts that would then be due hereunder or if the Facility Termination Event giving rise to such acceleration had not occurred; and (B) all sums paid or advanced by the Agent hereunder and the reasonable compensation, expenses, disbursements and advances of the Agent and its agents and counsel; and (ii) all Facility Termination Events, other than the nonpayment of the principal of the Advances that has become due solely by such acceleration, have been cured or waived. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Certain Rights Upon Facility Termination Event. (a) In addition to the rights and remedies specified in SECTION Section 14.2, if a Facility Termination Event shall have occurred and be continuing, the Agent may direct the Collateral Agent to exercise any of the remedies specified in the Collateral Agent Security Agreement or available to the Collateral Agent as a secured party under the UCC in respect of the Borrower Collateral (or any portion thereof). (b) The rights and remedies provided to the Collateral Agent, the Agent and the Secured Parties herein and in the other Transaction Documents are cumulative and not exclusive of any other rights and remedies the Collateral Agent, the Agent and the Secured Parties may have under applicable law. (c) If a Facility Termination Event shall have occurred and be continuing, then at any time after the acceleration of the maturity of the Advances and other Obligations has been made and before a judgment or decree for payment of the money due has been obtained by the Agent as hereinafter provided, the Required Lenders, by written notice to the Borrower and the Agent, may rescind and annul such declaration and its consequences if: (i) the Borrower has paid or deposited with the Agent a sum sufficient to pay (A) all payments of principal of and Yield on the Advances and all other amounts that would then be due hereunder or if the Facility Termination Event giving rise to such acceleration had not occurred; and (B) all sums paid or advanced by the Agent hereunder and the reasonable compensation, expenses, disbursements and advances of the Agent and its agents and counsel; and (ii) all Facility Termination Events, other than the nonpayment of the principal of the Advances that has become due solely by such acceleration, have been cured or waived. No such rescission shall affect any subsequent default or impair any right consequent thereto. (d) Call on Guarantees. Upon the termination of the Facility pursuant to Section 14.2, the Agent may immediately proceed to collect all amounts due and payable under this Agreement from the Seller, to the extent provided under the Seller Guaranty and from MFN, to the extent provided under the MFN Guaranty.