Common use of Consequences of an Event of Default Clause in Contracts

Consequences of an Event of Default. (a) If an Event of Default specified in subsections (c) through (m) of Section 7.01 of this Agreement occurs, the Issuing Banks and the Banks will be under no further obligation to make Loans or issue Letters of Credit and may at the option of the Majority Banks (i) demand the unpaid principal amount of the Notes, interest accrued on the unpaid principal amount thereof and all other amounts owing by the Borrower under this Agreement, the Notes and the other Loan Documents to be immediately due and payable without presentment, protest or further demand or notice of any kind, all of which are expressly waived, and an action for any amounts due shall accrue immediately; and (ii) require the Borrower to, and the Borrower shall thereupon, deposit in a non-interest bearing account with the Agent, as cash collateral for its obligations under the Loan Documents, an amount equal to one hundred five percent (105%) of the Letter of Credit Reserve, and the Borrower hereby pledges to the Agent and the Banks, and grants to the Agent for the benefit of the Banks a security interest in such account and all such cash as security for such obligations of the Borrower. (b) If an Event of Default specified in subsections (a), (b), (n) or (o) of Section 7.01 of this Agreement occurs and continues or exists, the Issuing Banks and the Banks will be under no further obligation to make Loans or issue Letters of Credit and the unpaid principal amount of the Notes, interest accrued thereon and all other amounts owing by the Borrower under this Agreement, the Notes and the other Loan Documents shall automatically become immediately due and payable without presentment, demand, protest or notice of any kind, all of which are expressly waived, and an action for any amounts due shall accrue immediately.

Consequences of an Event of Default. (a) If an Event of Default specified in subsections (c) through (mn) of Section 7.01 of this Agreement occurs, the Issuing Banks Agent and the Banks will be under no further obligation to make Loans or issue Letters of Credit and may at the option of the Majority Banks (i) demand the unpaid principal amount of the Notes, interest accrued on the unpaid principal amount thereof and all other amounts owing by the Borrower Borrowers under this Agreement, the Notes and the other Loan Documents to be immediately due and payable without presentment, demand, protest or further demand or notice of any kind, all of which are expressly waived, and an action for any amounts due shall accrue immediately; and (ii) require the Borrower Borrowers to, and the Borrower Borrowers shall thereupon, deposit in a non-interest bearing account with the Agent, as cash collateral for its their obligations under the Loan Documents, an amount equal to one hundred five percent (105%) of the Letter of Credit Reserve, and the Borrower Borrowers hereby pledges pledge to the Agent, and grant to the Agent and the Banks, and grants to the Agent for the benefit of the Banks a security interest in such account and in, all such cash as security for such obligations of the BorrowerBorrowers. (b) If an Event of Default specified in subsections (a), (b), (no) or (op) of Section 7.01 of this Agreement occurs and continues or exists, the Issuing Banks Agent and the Banks will be under no further obligation to make Loans or issue Letters of Credit and the unpaid principal amount of the Notes, interest accrued thereon and all other amounts owing by the Borrower Borrowers under this Agreement, the Notes and the other Loan Documents shall automatically become immediately due and payable without presentment, demand, protest or notice of any kind, all of which are expressly waived, and an action for any amounts due shall accrue immediately.

Consequences of an Event of Default. (a) If an Event of Default specified in subsections (ca) through (ml) of Section 7.01 of this Agreement occursoccurs and continues or exists, the Issuing Banks and the Banks Lender will be under no further obligation to make Loans or issue Letters of Credit and may at the option of the Majority Banks (i) demand the unpaid principal amount of the NotesNote, interest accrued on the unpaid principal amount thereof and all other amounts owing by the Borrower under this Agreement, the Notes Note and the other Loan Documents to be immediately due and payable without presentment, demand, protest or further demand or notice of any kind, all of which are expressly waived, and an action for any amounts due shall accrue immediately; and (ii) require the Borrower to, and the Borrower shall thereupon, deposit in a non-interest bearing account with the Agent, as cash collateral for its obligations under the Loan Documents, an amount equal to one hundred five percent (105%) of the Letter of Credit Reserve, and the Borrower hereby pledges to the Agent and the Banks, and grants to the Agent for the benefit of the Banks a security interest in such account and all such cash as security for such obligations of the Borrower. (b) If an Event of Default specified in subsections (a), (b), (nin) or (on) of Section 7.01 of this Agreement occurs and continues or exists, the Issuing Banks and Revolving Credit Commitment will automatically terminate, the Banks Lender will be under no further obligation to make Loans or issue Letters of Credit and the unpaid principal amount of the NotesNote, interest accrued thereon on the unpaid principal amount and all other amounts owing by the Borrower under this Agreement, the Notes Note and the other Loan Documents shall automatically become immediately due and payable without presentment, demand, protest or notice of any kind, all of which are expressly waived, and an action for any amounts due shall accrue immediately. (c) If an Event of Default occurs and continues or exists, the Lender may, without notice to the Borrower, increase the rate of interest applicable to the Loans to the rate of interest applicable to the Loans to the rate of interest specified in subsection (b) of Section 2.02

Consequences of an Event of Default. (a) If an Event of Default specified in subsections (ca) through (mk) or (n) through (u) of Section 7.01 8.01 of this Agreement occursoccurs and continues or exists, the Issuing Banks Agents and the Banks Lenders will be under no further obligation to make Loans or issue Letters of Credit and may at and, upon the option written consent of the Majority Banks (i) Required Lenders, the Agents, on behalf of the Lenders, may demand the unpaid principal amount of the NotesLoans, interest accrued on the unpaid principal amount thereof and all other amounts owing by the Borrower or any Surety under this Agreement, the Notes Security Agreements and the other Loan Documents to be immediately due and payable without presentment, demand, protest or further demand or notice of any kind, all of which are expressly waived, and an action for any amounts due shall accrue immediately; and (ii) require the Borrower to, and the Borrower shall thereupon, deposit in a non-interest bearing account with the Agent, as cash collateral for its obligations under the Loan Documents, an amount equal to one hundred five percent (105%) of the Letter of Credit Reserve, and the Borrower hereby pledges to the Agent and the Banks, and grants to the Agent for the benefit of the Banks a security interest in such account and all such cash as security for such obligations of the Borrower. (b) If an Event of Default specified in subsections (a), (b), (nl) or (om) of Section 7.01 8.01 of this Agreement occurs and continues or exists, the Issuing Banks Agents and the Banks Lenders will be under no further obligation to make Loans or issue Letters of Credit and the unpaid principal amount of the NotesLoans, interest accrued thereon on the unpaid principal amount and all other amounts owing by the Borrower or any Surety under this Agreement, the Notes Security Agreements and the other Loan Documents shall automatically become immediately due and payable without presentment, demand, protest or notice of any kind, all of which are expressly waived, and an action for any amounts due shall accrue immediately.

Consequences of an Event of Default. (a) a. If an Event of Default specified in subsections (ca) through (ml) of Section 7.01 of this Agreement occurs, the Issuing Banks and the Banks will be under no further obligation to make Loans or issue Letters of Credit and may at the option of the Majority Banks (i) demand the unpaid principal amount of the Notes, interest accrued on the unpaid principal amount thereof and all other amounts owing by the Borrower under this Agreement, the Notes and the other Loan Documents to be immediately due and payable without presentment, protest or further demand or notice of any kind, all of which are expressly waived, and an action for any amounts due shall accrue immediately; and (ii) require the Borrower to, and the Borrower shall thereupon, deposit in a non-interest bearing account with the Agent, as cash collateral Cash Collateral for its obligations under the Loan Documents, an amount equal to one hundred five percent (105%) of the Letter of Credit Reserve, and the Borrower hereby pledges to the Agent and the Banks, and grants to the Agent for the benefit of the Banks a security interest in such account and all such cash as security for such obligations of the Borrower. (b) b. If an Event of Default specified in subsections (a), (b), (nm) or (on) of Section 7.01 of this Agreement occurs and continues or exists, the Issuing Banks and the Banks will be under no further obligation to make Loans or issue Letters of Credit and the unpaid principal amount of the Notes, interest accrued thereon and all other amounts owing by the Borrower under this Agreement, the Notes and the other Loan Documents shall automatically become immediately due and payable without presentment, demand, protest or notice of any kind, all of which are expressly waived, and an action for any amounts due shall accrue immediately.

Consequences of an Event of Default. (a) If an Event of Default specified in subsections (ca) through (j) or (m) through (p) of Section 7.01 of this Agreement occursoccurs and continues or exists, the Issuing Banks Agent and the Banks each Bank will be under no further obligation to make Loans or issue Letters of Credit and may at and, upon the option written consent of the Majority Banks holding 75% of the Credit Exposures of all of the Banks (i) provided that such 75% includes the Agent and at least one other Bank), the Agent, on behalf of the Banks, may demand the unpaid principal amount of the Notes, interest accrued on the unpaid principal amount thereof and all other amounts owing by the Borrower under this Agreement, the Notes Notes, the Security Agreements and the other Loan Documents to be immediately due and payable without presentment, demand, protest or further demand or notice of any kind, all of which are expressly waived, and an action for any amounts due shall accrue immediately; and (ii) require the Borrower to, and the Borrower shall thereupon, deposit in a non-interest bearing account with the Agent, as cash collateral for its obligations under the Loan Documents, an amount equal to one hundred five percent (105%) of the Letter of Credit Reserve, and the Borrower hereby pledges to the Agent and the Banks, and grants to the Agent for the benefit of the Banks a security interest in such account and all such cash as security for such obligations of the Borrower. (b) If an Event of Default specified in subsections (a), (b), (nk) or (ol) of Section 7.01 of this Agreement occurs and continues or exists, the Issuing Banks Agent and the Banks each Bank will be under no further obligation to make Loans or issue Letters of Credit and the unpaid principal amount of the Notes, interest accrued thereon on the unpaid principal amount and all other amounts owing by the Borrower under this Agreement, the Notes Notes, the Security Agreements and the other Loan Documents shall automatically become immediately due and payable without presentment, demand, protest or notice of any kind, all of which are expressly waived, and an action for any amounts due shall accrue immediately.

Consequences of an Event of Default. (a) If an Event of Default specified in subsections (ca) through (ml) of Section 7.01 of this Agreement occurs, the Issuing Banks and the Banks will be under no further obligation to make Loans or issue Letters of Credit and may at the option of the Majority Banks (i) demand the unpaid principal amount of the Notes, interest accrued on the unpaid principal amount thereof and all other amounts owing by the Borrower under this Agreement, the Notes and the other Loan Documents to be immediately due and payable without presentment, protest or further demand or notice of any kind, all of which are expressly waived, and an action for any amounts due shall accrue immediately; and (ii) require the Borrower to, and the Borrower shall thereupon, deposit in a non-interest bearing account with the Agent, as cash collateral for its obligations under the Loan Documents, an amount equal to one hundred five percent (105%) of the Letter of Credit Reserve, and the Borrower hereby pledges to the Agent and the Banks, and grants to the Agent for the benefit of the Banks a security interest in such account and all such cash as security for such obligations of the Borrower. (b) If an Event of Default specified in subsections (a), (b), (nm) or (on) of Section 7.01 of this Agreement occurs and continues or exists, the Issuing Banks and the Banks will be under no further obligation to make Loans or issue Letters of Credit and the unpaid principal amount of the Notes, interest accrued thereon and all other amounts owing by the Borrower under this Agreement, the Notes and the other Loan Documents shall automatically become immediately due and payable without presentment, demand, protest or notice of any kind, all of which are expressly waived, and an action for any amounts due shall accrue immediately.

Consequences of an Event of Default. (a) If an Event of Default specified in subsections (ca) through (ml) of Section 7.01 of this Agreement occurs, the Issuing Banks and the Banks will be under no further obligation to make Loans or issue Letters of Credit and may at the option of the Majority Banks (i) demand the unpaid principal amount of the Notes, interest accrued on the unpaid principal amount thereof and all other amounts owing by the Borrower under this Agreement, the Notes and the other Loan Documents to be immediately due and payable without presentment, protest or further demand or notice of any kind, all of which are expressly waived, and an action for any amounts due shall accrue immediately; and (ii) require the Borrower to, and the Borrower shall thereupon, deposit in a non-interest bearing account with the Agent, as cash collateral Cash Collateral for its obligations under the Loan Documents, an amount equal to one hundred five percent (105%) of the Letter of Credit Reserve, and the Borrower hereby pledges to the Agent and the Banks, and grants to the Agent for the benefit of the Banks a security interest in such account and all such cash as security for such obligations of the Borrower. (b) If an Event of Default specified in subsections (a), (b), (nm) or (on) of Section 7.01 of this Agreement occurs and continues or exists, the Issuing Banks and the Banks will be under no further obligation to make Loans or issue Letters of Credit and the unpaid principal amount of the Notes, interest accrued thereon and all other amounts owing by the Borrower under this Agreement, the Notes and the other Loan Documents shall automatically become immediately due and payable without presentment, demand, protest or notice of any kind, all of which are expressly waived, and an action for any amounts due shall accrue immediately.. 264674781 265265096

Consequences of an Event of Default. (a) If an Event of Default specified in subsections (cSection 7.01(b) through (mSection 7.01(k) of Section 7.01 of this Agreement occursoccurs and continues or exists, the Issuing Banks and the Banks Bank will be under no further obligation to make Loans or issue Letters of Credit and may at the its option of the Majority Banks (i) demand the unpaid principal amount of the Notes, interest accrued on the unpaid principal amount thereof and all other amounts owing by the Borrower Borrowers under this Agreement, the Notes and the other Loan Documents to be immediately due and payable without presentment, protest or further demand or notice of any kind, all of which are expressly waived, and an action for any amounts due shall accrue immediately; and (ii) require the Borrower Borrowers to, and the Borrower Borrowers shall thereupon, deposit in a non-interest bearing account with the AgentBank, as cash collateral for its obligations under the Loan Documents, an amount equal to one hundred five percent (105%) of the Letter of Credit Reserve, and the Borrower Borrowers hereby pledges pledge to the Agent and the BanksBank, and grants grant to the Agent for the benefit of the Banks Bank a security interest in such account and in, all such cash as security for such obligations of the BorrowerBorrowers. (b) If an Event of Default specified in subsections (aSection 7.01(a), (b), (nSection 7.01(l) or (oSection 7.01(m) of Section 7.01 of this Agreement occurs and continues or exists, the Issuing Banks and the Banks Bank will be under no further obligation to make Loans or issue Letters of Credit and the unpaid principal amount of the Notes, interest accrued thereon and all other amounts owing by the Borrower Borrowers under this Agreement, the Notes and the other Loan Documents shall automatically become immediately due and payable without presentment, demand, protest or notice of any kind, all of which are expressly waived, and an action for any amounts due shall accrue immediately.

Consequences of an Event of Default. (a) If an Event of Default specified in subsections (ca) through (ml) of Section 7.01 of this Agreement occurs, the Issuing Banks and the Banks will be under no further obligation to make Loans or issue Letters of Credit and may at the option of the Majority Banks Banks (i) demand the unpaid principal amount of the Notes, interest accrued on the unpaid principal amount thereof and all other amounts owing by the Borrower under this Agreement, the Notes and the other Loan Documents to be immediately due and payable without presentment, protest or further demand or notice of any kind, all of which are expressly waived, and an action for any amounts due shall accrue immediately; and (ii) require the Borrower to, and the Borrower shall thereupon, deposit in a non-interest bearing account with the Agent, as cash collateral Cash Collateral for its obligations under the Loan Documents, an amount equal to one hundred five percent (105%) of the Letter of Credit Reserve, and the Borrower hereby pledges to the Agent and the Banks, and grants to the Agent for the benefit of the Banks a security interest in such account and all such cash as security for such obligations of the Borrower. (b) If an Event of Default specified in subsections (a), (b), (nm) or (on) of Section 7.01 of this Agreement occurs and continues or exists, the Issuing Banks and the Banks will be under no further obligation to make Loans or issue Letters of Credit and the unpaid principal amount of the Notes, interest accrued thereon and all other amounts owing by the Borrower under this Agreement, the Notes and the other Loan Documents shall automatically become immediately due and payable without presentment, demand, protest or notice of any kind, all of which are expressly waived, and an action for any amounts due shall accrue immediately.

Consequences of an Event of Default. (a) If an Event of Default specified in subsections (cb) through (mj) of Section 7.01 of this Agreement occursoccurs and continues or exists, the Issuing Banks and the Banks Bank will be under no further obligation to make Loans or issue Letters of Credit and may at the its option of the Majority Banks (i) demand the unpaid principal amount of the Notes, interest accrued on the unpaid principal amount thereof and all other amounts owing by the Borrower Borrowers under this Agreement, the Notes and the other Loan Documents to be immediately due and payable without presentment, protest or further demand or notice of any kind, all of which are expressly waived, and an action for any amounts due shall accrue immediately; and (ii) require the Borrower Borrowers to, and the Borrower Borrowers shall thereupon, deposit in a non-interest bearing account with the AgentBank, as cash collateral for its obligations under the Loan Documents, an amount equal to one hundred five percent (105%) of the Letter of Credit Reserve, and the Borrower Borrowers hereby pledges pledge to the Agent and the BanksBank, and grants grant to the Agent for the benefit of the Banks Bank a security interest in such account and in, all such cash as security for such obligations of the BorrowerBorrowers. (b) If an Event of Default specified in subsections (a), (b), (nk) or (ol) of Section 7.01 of this Agreement occurs and continues or exists, the Issuing Banks and the Banks Bank will be under no further obligation to make Loans or issue Letters of Credit and the unpaid principal amount of the Notes, interest accrued thereon and all other amounts owing by the Borrower Borrowers under this Agreement, the Notes and the other Loan Documents shall automatically become immediately due and payable without presentment, demand, protest or notice of any kind, all of which are expressly waived, and an action for any amounts due shall accrue immediately.

Consequences of an Event of Default. (a) If an Event of Default specified in subsections (cb) through (mj) of Section 7.01 of this Agreement occursoccurs and continues or exists, the Issuing Banks and the Banks Bank will be under no further obligation to make Loans or issue Letters of Credit and may at the its option of the Majority Banks (i) demand the unpaid principal amount of the Notes, interest accrued on the unpaid principal amount thereof and all other amounts owing by the Borrower Borrowers under this Agreement, the Notes and the other Loan Documents to be immediately due and payable without presentment, protest or further demand or notice of any kind, all of which are expressly waived, and an action for any amounts due shall accrue immediately; and (ii) require the Borrower Borrowers to, and the Borrower Borrowers shall thereupon, deposit in a non-interest bearing account with the AgentBank, as cash collateral for its obligations under the Loan Documents, an amount equal to one hundred five percent (105%) of the Letter of Credit Reserve, and the Borrower Borrowers hereby pledges pledge to the Agent and the BanksBank, and grants grant to the Agent for the benefit of the Banks Bank a security interest in such account and in, all such cash as security for such obligations of the BorrowerBorrowers. (b) If an Event of Default specified in subsections (a), (b), (nl) or (om) of Section 7.01 of this Agreement occurs and continues or exists, the Issuing Banks and the Banks Bank will be under no further obligation to make Loans or issue Letters of Credit and the unpaid principal amount of the Notes, interest accrued thereon and all other amounts owing by the Borrower Borrowers under this Agreement, the Notes and the other Loan Documents shall automatically become immediately due and payable without presentment, demand, protest or notice of any kind, all of which are expressly waived, and an action for any amounts due shall accrue immediately.

Consequences of an Event of Default. (a) If an Event of Default specified in subsections (cb) through (mi) of Section 7.01 of this Agreement occursoccurs and continues or exists, the Issuing Banks and the Banks Bank will be under no further obligation to make Loans or issue Letters of Credit and may at the its option of the Majority Banks (i) demand the unpaid principal amount of the Notes, interest accrued on the unpaid principal amount thereof and all other amounts owing by the Borrower Borrowers under this Agreement, the Notes and the other Loan Documents to be immediately due and payable without presentment, protest or further demand or notice of any kind, all of which are expressly waived, and an action for any amounts due shall accrue immediately; and (ii) require the Borrower Borrowers to, and the Borrower Borrowers shall thereupon, deposit in a non-interest bearing account with the AgentBank, as cash collateral for its obligations under the Loan Documents, an amount equal to one hundred five percent (105%) of the Letter of Credit Reserve, and the Borrower Borrowers hereby pledges pledge to the Agent and the BanksBank, and grants grant to the Agent for the benefit of the Banks Bank a security interest in such account and in, all such cash as security for such obligations of the BorrowerBorrowers. (b) If an Event of Default specified in subsections (a), (b), (nj) or (ok) of Section 7.01 of this Agreement occurs and continues or exists, the Issuing Banks and the Banks Bank will be under no further obligation to make Loans or issue Letters of Credit and the unpaid principal amount of the Notes, interest accrued thereon and all other amounts owing by the Borrower Borrowers under this Agreement, the Notes and the other Loan Documents shall automatically become immediately due and payable without presentment, demand, protest or notice of any kind, all of which are expressly waived, and an action for any amounts due shall accrue immediately.

Consequences of an Event of Default. (a) If an Event of Default specified in subsections (ca) through (ml) of Section 7.01 of this Agreement occurs, the Issuing Banks and the Banks will be under no further obligation to make Loans or issue Letters of Credit and may at the option of the Majority Banks (i) demand the unpaid principal amount of the Notes, interest accrued on the unpaid principal amount thereof and all other amounts owing by the Borrower under this Agreement, the Notes and the other Loan Documents to be immediately due and payable without presentment, protest or further demand or notice of any kind, all of which are expressly waived, and an action for any amounts due shall accrue immediately; and (ii) require the Borrower to, and the Borrower shall thereupon, deposit in a non-interest bearing account with the Agent, as cash collateral Cash Collateral for its obligations under the Loan Documents, an amount equal to one hundred five percent (105%) of the Letter of Credit Reserve, and the Borrower hereby pledges to the Agent and the Banks, and grants to the Agent for the benefit of the Banks a security interest in such account and all such cash as security for such obligations of the Borrower. (b) If an Event of Default specified in subsections (a), (b), (nm) or (on) of Section 7.01 of this Agreement occurs and continues or exists, the Issuing Banks and the Banks will be under no further obligation to make Loans or issue Letters of Credit and the unpaid principal amount of the Notes, interest accrued thereon and all other amounts owing by the Borrower under this Agreement, the Notes and the other Loan Documents shall automatically become immediately due and payable without presentment, demand, protest or notice of any kind, all of which are expressly waived, and an action for any amounts due shall accrue immediately.. 270134563

Consequences of an Event of Default. (a) If an Event of Default specified in subsections (ca) through (ml) of Section 7.01 of this Agreement occurs, the Issuing Banks Agent and the Banks will be under no further obligation to make Loans or issue Letters of Credit and may the Agent may, at the option of the Majority Banks (i) demand the unpaid principal amount of the Notes, interest accrued on the unpaid principal amount thereof and all other amounts owing by the Borrower under this Agreement, the Notes and the other Loan Documents to be immediately due and payable without presentment, demand, protest or further demand or notice of any kind, all of which are expressly waived, and an action for any amounts due shall accrue immediately; immediately and (ii) require the Borrower to, and the Borrower shall thereupon, deposit in a non-interest bearing account with the Agent, as cash collateral for its obligations under the Loan Documents, an amount equal to one hundred five percent (105%) the maximum amount currently or at any time thereafter available to be drawn on of the Letter all outstanding Letters of Credit ReserveCredit, and the Borrower hereby pledges to the Agent and the Banks, and grants to the Agent for the benefit of and the Banks a security interest in such account and in, all such cash as security for such obligations of the Borrower. (b) If an Event of Default specified in subsections (a), (b), (nm) or (on) of Section 7.01 of this Agreement occurs and continues or exists, the Issuing Banks and the Banks will be under no further obligation to make Loans or issue Letters of Credit and the unpaid principal amount of the Notes, interest accrued thereon on the unpaid principal amount of the Notes and all other amounts owing by the Borrower under this Agreement, the Notes and the other Loan Documents shall automatically become immediately due and payable without presentment, demand, protest or notice of any kind, all of which are expressly waived, and an action for any amounts due shall accrue immediately.

Consequences of an Event of Default. (a) If an Event of Default specified in subsections (cb) through (mn) of Section 7.01 of this Agreement occurs, the Issuing Banks and the Banks Bank will be under no further obligation to make Loans or issue Letters of Credit and may at the its option of the Majority Banks (i) demand the unpaid principal amount of the Notes, interest accrued on the unpaid principal amount thereof and all other amounts owing by the Borrower Borrowers under this Agreement, the Notes and the other Loan Documents to be immediately due and payable without presentment, demand, protest or further demand or notice of any kind, all of which are expressly waived, and an action for any amounts due shall accrue immediately; and (ii) require the Borrower Borrowers to, and the Borrower Borrowers shall thereupon, deposit in a non-interest bearing account with the AgentBank, as cash collateral for its their obligations under the Loan Documents, an amount equal to one hundred five percent (105%) the maximum amount currently or at any time thereafter available to be drawn on all outstanding Letters of the Letter of Credit ReserveCredit, and the Borrower Borrowers hereby pledges pledge to the Agent and the BanksBank, and grants grant to the Agent for the benefit of the Banks Bank a security interest in such account and in, all such cash as security for such obligations of the BorrowerBorrowers. (b) If an Event of Default specified in subsections (a), (b), (no) or (op) of Section 7.01 of this Agreement occurs and continues or exists, the Issuing Banks and the Banks Bank will be under no further obligation to make Loans or issue Letters of Credit and the unpaid principal amount of the Notes, interest accrued thereon on the unpaid principal amount of the Notes and all other amounts owing by the Borrower Borrowers under this Agreement, the Notes and the other Loan Documents shall automatically become immediately due and payable without presentment, demand, protest or notice of any kind, all of which are expressly waived, and an action for any amounts due shall accrue immediately.

Consequences of an Event of Default. (a) If an Event of Default specified in subsections (cSection 7.01(b) through (mSection 7.01(j) of Section 7.01 of this Agreement occursoccurs and continues or exists, the Issuing Banks and the Banks Bank will be under no further obligation to make Loans or issue Letters of Credit and may at the its option of the Majority Banks (i) demand the unpaid principal amount of the Notes, interest accrued on the unpaid principal amount thereof and all other amounts owing by the Borrower Borrowers under this Agreement, the Notes and the other Loan Documents to be immediately due and payable without presentment, protest or further demand or notice of any kind, all of which are expressly waived, and an action for any amounts due shall accrue immediately; and (ii) require the Borrower Borrowers to, and the Borrower Borrowers shall thereupon, deposit in a non-interest bearing account with the AgentBank, as cash collateral for its obligations under the Loan Documents, an amount equal to one hundred five percent (105%) of the Letter of Credit Reserve, and the Borrower Borrowers hereby pledges pledge to the Agent and the BanksBank, and grants grant to the Agent for the benefit of the Banks Bank a security interest in such account and in, all such cash as security for such obligations of the BorrowerBorrowers. (b) If an Event of Default specified in subsections (aSection 7.01(a), (b), (nSection 7.01(k) or (oSection 7.01(l) of Section 7.01 of this Agreement occurs and continues or exists, the Issuing Banks and the Banks Bank will be under no further obligation to make Loans or issue Letters of Credit and the unpaid principal amount of the Notes, interest accrued thereon and all other amounts owing by the Borrower Borrowers under this Agreement, the Notes and the other Loan Documents shall automatically become immediately due and payable without presentment, demand, protest or notice of any kind, all of which are expressly waived, and an action for any amounts due shall accrue immediately.

Consequences of an Event of Default. (a) If an Event of Default specified in subsections (c) through (mn) of Section 7.01 of this Agreement occurs, the Issuing Banks Agent and the Banks will be under no further obligation to make Loans or issue Letters of Credit and may at the option of the Majority Banks (i) demand the unpaid principal amount of the Notes, interest accrued on the unpaid principal amount thereof and all other amounts owing by the Borrower Loan Parties under this Agreement, the Notes and the other Loan Documents to be immediately due and payable without presentment, demand, protest or further demand or notice of any kind, all of which are expressly waived, and an action for any amounts due shall accrue immediately; and (ii) require the Borrower Borrowers to, and the Borrower Borrowers shall thereupon, deposit in a non-interest bearing account with the Agent, as cash collateral for its their obligations under the Loan Documents, an amount equal to one hundred five percent (105%) of the Letter of Credit Reserve, and the Borrower Borrowers hereby pledges pledge to the Agent, and grant to the Agent and the Banks, and grants to the Agent for the benefit of the Banks a security interest in such account and in, all such cash as security for such obligations of the BorrowerBorrowers. (b) If an Event of Default specified in subsections (a), (b), (no) or (op) of Section 7.01 of this Agreement occurs and continues or exists, the Issuing Banks Agent and the Banks will be under no further obligation to make Loans or issue Letters of Credit and the unpaid principal amount of the Notes, interest accrued thereon and all other amounts owing by the Borrower Loan Parties under this Agreement, the Notes and the other Loan Documents shall automatically become immediately due and payable without presentment, demand, protest or notice of any kind, all of which are expressly waived, and an action for any amounts due shall accrue immediately.