Common use of Consequences of Event of Default Clause in Contracts

Consequences of Event of Default. 7.2.1 If an Event of Default occurs, Lender may, by notice to Borrower, declare the unpaid principal amount of the Note and interest accrued thereon and all other Obligations and liabilities of Borrower hereunder or under the Note or the Loan Documents to be immediately due and payable and the same shall thereupon become and be immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived, and an action therefor shall immediately accrue. 7.2.2 In addition, if an Event of Default occurs, Lender shall have all rights and remedies granted herein and in the other Loan Documents and all rights or remedies available at law (including, without limitation, the UCC) or equity, whether as a secured party or otherwise (including specifically those granted by the Uniform Commercial Code as in effect in the jurisdiction or jurisdictions where the Collateral is located) and, except as limited by Law, all remedies of Lender (i) shall be cumulative and concurrent; (ii) may be pursued separately, successively or concurrently against Borrower or against all or any portion of the Collateral, at the sole discretion of Lender; (iii) may be exercised as often as occasion therefor shall arise, it being agreed by Borrower that the exercise or failure to exercise any rights or remedies shall in no event be construed as a waiver or release thereof or of any other right, remedy or recourse; and (iv) are intended to be, and shall be, nonexclusive. To the fullest extent permitted by applicable Law, Lender may resort to the rights, remedies and recourses set forth herein and any other security therefor in such order and manner as Lender may elect.

Consequences of Event of Default. 7.2.1 In addition to all of the rights and remedies contained in this Agreement or in any of the other Loan Documents, the Lender shall have all of the rights and remedies under the Credit Agreement (which rights and remedies are incorporated herein by reference) and under applicable Law, all of which rights and remedies shall be cumulative and non-exclusive, to the extent permitted by Law. The Lender may exercise all post-Default rights granted to the Agent under the Loan Documents or applicable Law. If an Event of Default occursshall occur and be continuing, the Lender mayand any Subsidiary or Affiliate of the Lender or participant anywhere in the world shall have the right, by in addition to all other rights and remedies available to it, without notice to any Borrower, declare to set-off against and apply to the then unpaid principal amount balance of all the Note and interest accrued thereon Loan and all other Obligations and liabilities of Borrower the Borrowers hereunder or under any other Loan Document any debt owing to, and any other funds held in any manner for the Note account of, any Borrower by the Lender or the Loan Documents to be immediately due and payable and the same shall thereupon become and be immediately due and payable without presentmentparticipant or by such branch, Subsidiary or Affiliate, including all funds in all deposit accounts (whether time or demand, protest general or other notice of special, provisionally credited or finally credited, or otherwise) now or hereafter maintained by any kindBorrower for its own account (but not including funds held in custodian or trust accounts) with the Lender or participant or such branch, all of which are hereby expressly waived, and an action therefor Subsidiary or Affiliate. Such right shall immediately accrue. 7.2.2 In addition, if an Event of Default occurs, exist whether or not the Lender shall have all rights and remedies granted herein and in the made any demand under this Agreement or any other Loan Documents and all rights or remedies available at law (including, without limitation, the UCC) or equityDocument, whether as a secured party or otherwise (including specifically those granted by not such debt owing to or funds held for the Uniform Commercial Code as in effect in account of any Borrower is or are matured or unmatured and regardless of the jurisdiction existence or jurisdictions where the Collateral is located) and, except as limited by Law, all remedies adequacy of Lender (i) shall be cumulative and concurrent; (ii) may be pursued separately, successively or concurrently against Borrower or against all any Guaranty Obligation or any portion of the Collateralother security, at the sole discretion of Lender; (iii) may be exercised as often as occasion therefor shall arise, it being agreed by Borrower that the exercise right or failure to exercise any rights or remedies shall in no event be construed as a waiver or release thereof or of any other right, remedy or recourse; and (iv) are intended to be, and shall be, nonexclusive. To the fullest extent permitted by applicable Law, Lender may resort available to the rights, remedies and recourses set forth herein and any other security therefor in such order and manner as Lender may electLender.

Consequences of Event of Default. 7.2.1 If an Event of Default occurs, Lender may, by notice to Borrower, declare the unpaid principal amount of the Note and interest accrued thereon and all other Obligations and liabilities of Borrower hereunder or under the Note or the Loan Documents to be immediately due and payable and the same shall thereupon become and be immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived, and an action therefor shall immediately accrue. In addition, if an Event of Default occurs prior to the Advance Termination Date, Lender may, at its option, terminate and cancel its agreement to make Advances. 7.2.2 In addition, if an Event of Default occurs, Lender shall have all rights and remedies granted herein and in the other Loan Documents and all rights or remedies available at law (including, without limitation, the UCC) or equity, whether as a secured party or otherwise (including specifically those granted by the Uniform Commercial Code as in effect in the jurisdiction or jurisdictions where the Collateral is located) and, except as limited by Law, all remedies of Lender (i) shall be cumulative and concurrent; (ii) may be pursued separately, successively or concurrently against Borrower or against all or any portion of the Collateral, at the sole discretion of Lender; (iii) may be exercised as often as occasion therefor shall arise, it being agreed by Borrower that the exercise or failure to exercise any rights or remedies shall in no event be construed as a waiver or release thereof or of any other right, remedy or recourse; and (iv) are intended to be, and shall be, nonexclusive. To the fullest extent permitted by applicable Law, Lender may resort to the rights, remedies and recourses set forth herein and any other security therefor in such order and manner as Lender may elect.

Consequences of Event of Default. 7.2.1 8.2.1 If an Event of Default occurs, Lender may, by notice to Borrower, declare the unpaid principal amount of the Note and interest accrued thereon and all other Obligations and liabilities of Borrower hereunder or under the Note or the Loan Documents to be immediately due and payable and the same shall thereupon become and be immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived, and an action therefor shall immediately accrue. 7.2.2 8.2.2 In addition, if an Event of Default occurs, Lender shall have all rights and remedies granted herein and in the other Loan Documents and all rights or remedies available at law (including, without limitation, the UCC) or equity, whether as a secured party or otherwise (including specifically those granted by the Uniform Commercial Code as in effect in the jurisdiction or jurisdictions where the Collateral is located) and, except as limited by Law, all remedies of Lender (i) shall be cumulative and concurrent; (ii) may be pursued separately, successively or concurrently against Borrower or against all or any portion of the Collateral, at the sole discretion of Lender; (iii) may be exercised as often as occasion therefor shall arise, it being agreed by Borrower that the exercise or failure to exercise any rights or remedies shall in no event be construed as a waiver or release thereof or of any other right, remedy or recourse; and (iv) are intended to be, and shall be, nonexclusive. To the fullest extent permitted by applicable Law, Lender may resort to the rights, remedies and recourses set forth herein and any other security therefor in such order and manner as Lender may elect.

Consequences of Event of Default. 7.2.1 (a) If an Event of Default occurs, Lender may, by notice to Borrower, declare the unpaid principal amount of the Note and interest accrued thereon and all other Obligations and liabilities of Borrower hereunder or under the Note or the Loan Documents to be immediately due and payable and the same shall thereupon become and be immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived, and an action therefor shall immediately accrue. 7.2.2 . In addition, if an Event of Default occursoccurs prior to the Loan Commencement Date, Lender may, at its option, terminate and cancel its agreement to make Advances. (b) In addition, if an Event of Default occurs and is continuing, Lender shall have all rights and remedies granted herein and in the other Loan Documents and all rights or remedies available at law (including, without limitation, the UCC) or equity, whether as a secured party or otherwise (including specifically those granted by the Uniform Commercial Code as in effect in the jurisdiction or jurisdictions where the Collateral is located) and, except as limited by Law, all remedies of Lender (i) shall be cumulative and concurrent; (ii) may be pursued separately, successively or concurrently against Borrower or against all or any portion of the Collateral, at the sole discretion of Lender; (iii) may be exercised as often as occasion therefor shall arise, it being agreed by Borrower that the exercise or failure to exercise any rights or remedies shall in no event be construed as a waiver or release thereof or of any other right, remedy or recourse; and (iv) are intended to be, and shall be, nonexclusive. To the fullest extent permitted by applicable Law, Lender may resort to the rights, remedies and recourses set forth herein and any other security therefor in such order and manner as Lender may elect. (c) Without limiting any of the foregoing, Borrower agrees that (i) Lender may, with or without notice and without legal process, enter upon any property owned, leased or otherwise under the real or apparent control of Borrower or any agent thereof or any other location where the Collateral may be located and disassemble, disconnect, render unusable or repossess all or any item of the Collateral; (ii) written notice mailed to Borrower, as provided in this Agreement for the giving of notice, shall be reasonable if given twenty (20) days prior to (a) any public sale or (b) the date after which a private sale may be made; (iii) a sale of the Collateral may be made as a unit or in parcels and for cash and upon terms; (iv) Lender may buy the Collateral at any public sale and at any private sale as permitted by the UCC; and (v) such public or private sale or sales may be held or adjourned from time to time, and Lender shall have the right to conduct such sale or sales on Borrower's premises (including, without limitation, the Premises) or elsewhere where the Collateral is located, and shall have the right to use Borrower's premises without charge for such sale or sales for such time or times as Lender may determine.

Consequences of Event of Default. 7.2.1 If an Event of Default occurs, Lender may, by notice to Borrower, declare the unpaid principal amount of the Note and interest accrued thereon and all other Obligations and liabilities of Borrower hereunder or under the Note or the Loan Documents to be immediately due and payable and the same shall thereupon become and be immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived, and an action therefor shall immediately accrue. 7.2.2 In addition, if an Event of Default occurs, Lender shall have all rights and remedies granted herein and in the other Loan Documents and all rights or remedies available at law (including, without limitation, including the UCC) or equity, whether as a secured party or otherwise (including specifically those granted by the Uniform Commercial Code as in effect in the jurisdiction or jurisdictions where the Collateral is located) and, except as limited by Law, all remedies of Lender (i) shall be cumulative and concurrent; (ii) may be pursued separately, successively or concurrently against Borrower or against all or any portion of the Collateral, at the sole discretion of Lender; (iii) may be exercised as often as occasion therefor shall arise, it being agreed by Borrower that the exercise or failure to exercise any rights or remedies shall in no event be construed as a waiver or release thereof or of any other right, remedy or recourse; and (iv) are intended to be, and shall be, nonexclusive. To the fullest extent permitted by applicable Law, Lender may resort to the rights, remedies and recourses set forth herein and any other security therefor in such order and manner as Lender may elect.

Consequences of Event of Default. 7.2.1 If an Upon the occurrence of the Maturity Date and/or upon the occurrence and during the continuation of any other Event of Default occurs, Lender may, beyond the applicable cure period (if any) and upon the expiration of 7 days after written notice by notice the Required Investors to the Borrower, the Required Investors may take any or all of the following actions, in each case subject to the Supplemental Financing Order and otherwise without further order of or application to the Bankruptcy Court: (a) declare the unpaid principal amount of an accrued interest on the Note and interest accrued thereon and all other outstanding Term Loan Obligations and liabilities of Borrower hereunder or under the Note or the Loan Documents to be immediately due and payable and payable; it being agreed that upon the same shall thereupon become and be immediately due and payable without presentment, demand, protest or other notice occurrence of any kind, all of which are hereby expressly waived, and an action therefor shall immediately accrue. 7.2.2 In addition, if an Event of Default occursof the sort described in clause (u) above, Lender all of the Term Loan Obligations shall have all rights automatically become due and remedies granted payable with no notice or action by the Investors; (b) terminate the Term Loan Facility and any other obligations of the Investors to extend any credit hereunder on the date (which may be the date thereof) stated in such notice; (c) demand payment of interest on the Term Loan Obligations at the default rates set forth herein and in the Supplemental Financing Order, in which event interest at such rates shall accrue and be payable as therein set forth without further order of or application to the Bankruptcy Court; (d) the automatic stay shall be deemed lifted as to the Collateral and the Supplemental DIP Collateral Agent may, and upon request of the Required Investors shall, (without regard to whatever other Loan Documents action the Supplemental DIP Collateral Agent or the Required Investors may be taking), foreclose and all realize upon and exercise any other rights or remedies available at law (including, without limitation, the UCC) or equity, whether as a secured party or otherwise (including specifically those granted by the Uniform Commercial Code as in effect in the jurisdiction or jurisdictions where with respect to the Collateral is located) and, except as limited by Law, all remedies of Lender (i) shall be cumulative and concurrent; (ii) may be pursued separately, successively or concurrently against Borrower or against all or any portion of security for the Collateral, at the sole discretion of Lender; (iii) may be exercised as often as occasion therefor shall arise, it being agreed by Borrower that the exercise or failure to exercise any rights or remedies shall in no event be construed as a waiver or release thereof or of any other right, remedy or recourse; and (iv) are intended to be, and shall be, nonexclusive. To the fullest extent permitted by applicable Law, Lender may resort to the rights, remedies and recourses set forth herein and any other security therefor in such order and manner as Lender may electTerm Loan Obligations.

Consequences of Event of Default. 7.2.1 If an Event of Default occurs, Lender may, by notice to Borrower, declare the unpaid principal amount of the Note and interest accrued thereon and all other Obligations and liabilities of Borrower hereunder or under the Note or the Loan Documents to be immediately due and payable and the same shall thereupon become and be immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived, and an action therefor shall immediately accrue. 7.2.2 In addition, if an Event of Default occurs, Lender shall have all rights and remedies granted herein and in the other Loan Documents and all rights or remedies available at law (including, without limitation, the UCC) or equity, whether as a secured party or otherwise (including specifically those granted by the Uniform Commercial Code as in effect in the jurisdiction or jurisdictions where the Collateral is located) and, except as limited by Law, all remedies of Lender (i) shall be cumulative and concurrent; (ii) may be pursued separately, successively or concurrently against Borrower or against all or any portion of the Collateral, at the sole discretion of Lender; (iii) may be exercised as often as occasion therefor shall arise, it being agreed by Borrower that the exercise or failure to exercise any rights or remedies shall in no event be construed as a waiver or release thereof or of any other right, remedy or recourse; and (iv) are intended to be, and shall be, nonexclusive. To the fullest extent permitted by applicable Law, Lender may resort to the rights, remedies and recourses set forth herein and any other security therefor in such order and manner as Lender may elect. In addition, if an Event of Default occurs, Lender may draw upon the Letter of Credit for any or all of the amounts thereunder.

Consequences of Event of Default. 7.2.1 If an Event of Default occursoccurs and is continuing, Lender may, by notice to Borrower, declare the unpaid principal amount of the Note and interest accrued thereon and all other Obligations and liabilities of Borrower hereunder or under the Note or the Loan Documents to be immediately due and payable and the same shall thereupon become and be immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived, and an action therefor shall immediately accrue. In addition, if an Event of Default occurs and is continuing prior to a Store Tranche Commencement Date, Lender may, at its option, terminate and cancel its agreement to make Advances. 7.2.2 In addition, if an Event of Default occursoccurs and is continuing, Lender shall have all rights and remedies granted herein and in the other Loan Documents and all rights or remedies available at law (including, without limitation, the UCC) or equity, whether as a secured party or otherwise (including specifically those granted by the Uniform Commercial Code as in effect in the jurisdiction or jurisdictions where the Collateral is located) and, except as limited by Law, all remedies of Lender (i) shall be cumulative and concurrent; (ii) may be pursued separately, successively or concurrently against Borrower or against all or any portion of the Collateral, at the sole discretion of Lender; (iii) may be exercised as often as occasion therefor shall arise, it being agreed by Borrower that the exercise or failure to exercise any rights or remedies shall in no event be construed as a waiver or release thereof or of any other right, remedy or recourse; and (iv) are intended to be, and shall be, nonexclusive. To the fullest extent permitted by applicable Law, Lender may resort to the rights, remedies and recourses set forth herein and any other security therefor in such order and manner as Lender may elect.

Consequences of Event of Default. 7.2.1 If an Upon the occurrence of the Maturity Date and upon the occurrence and during the continuation of any Event of Default occurs, Lender may, beyond the applicable cure period (if any) and upon the expiration of 7 days after written notice by notice the DIP Agent to the Borrower, the DIP Agent, the Banks and the Pre-Petition Banks may take any or all of the following actions, in each case without further order of or application to the Bankruptcy Court: (a) declare the unpaid principal amount of an accrued interest on the Note and interest accrued thereon and all other outstanding Post-Petition Obligations and liabilities of Borrower hereunder or under the Note or the Loan Documents to be immediately due and payable payable; (b) set off any amounts in any account (including any accounts maintained by the Borrower with the DIP Agent) (c) terminate the DIP Commitments and any other obligations of the same shall thereupon become Banks to extend any further credit hereunder on the date (which may be the date thereof) stated in such notice; (d) demand that any Cash Collateral be applied to reduce or collateralize the Post-Petition Obligations and be immediately due Pre-Petition Obligations as set forth in Section 3.4(e) hereof; (e) demand payment of interest on the Post-Petition Obligations and payable without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived, and an action therefor shall immediately accrue. 7.2.2 In addition, if an Event of Default occurs, Lender shall have all rights and remedies granted Pre-Petition Obligations at the default rates set forth herein and in the Financing Order, in which event interest at such rates shall accrue and be payable as therein set forth without further order of or application to the Bankruptcy Court; (f) the automatic stay shall be deemed lifted as to the Collateral and the DIP Agent may, and upon request of the Required Banks shall, (without regard to whatever other Loan Documents action the DIP Agent or the Banks may be taking), foreclose and all realize upon and exercise any other rights or remedies available at law (including, without limitation, the UCC) or equity, whether as a secured party or otherwise (including specifically those granted by the Uniform Commercial Code as in effect in the jurisdiction or jurisdictions where with respect to the Collateral is located) and, except as limited by Law, all remedies of Lender (i) shall be cumulative security for the Post-Petition Obligations and concurrent; (ii) may be pursued separately, successively or concurrently against Borrower or against all or any portion of the Collateral, at the sole discretion of Lender; (iii) may be exercised as often as occasion therefor shall arise, it being agreed by Borrower that the exercise or failure to exercise any rights or remedies shall in no event be construed as a waiver or release thereof or of any other right, remedy or recourse; and (iv) are intended to be, and shall be, nonexclusive. To the fullest extent permitted by applicable Law, Lender may resort to the rights, remedies and recourses set forth herein and any other security therefor in such order and manner as Lender may electPre-Petition Obligations.

Consequences of Event of Default. 7.2.1 If (a) At any time after an Event of Default occurshas occurred, Lender maythe Trustee (acting on the instructions of any Debentureholder) shall have the right (but not the obligation), by notice to Borrowernotify the Issuer and require it to redeem in full all the Debentures then outstanding, declare at the unpaid principal amount of Early Redemption Amount or, if the Note and interest accrued thereon and Redemption Dates have elapsed, at the Scheduled Redemption Amount together with, in each case, all other Obligations and liabilities of Borrower hereunder or amounts payable by the Issuer under the Note or the Loan Documents Transaction Documents. The Issuer waives any right that it might have to be immediately due and payable and the same shall thereupon become and be immediately due and payable without further notice, presentment, demand, demand or protest or other notice of any kind, all of which are hereby expressly waived, and an action therefor shall immediately accruewith respect to that demand for immediate payment. 7.2.2 In addition(b) No Debentureholder will be entitled to proceed directly against the Issuer unless the Trustee, if having become bound to do so, fails to do so within a reasonable period and such failure continues. (c) At any time after the occurrence of an Event of Default occursand for so long as it is continuing, Lender the Trustee (acting on the instructions of any Debentureholder) shall have be entitled to exercise all its rights and remedies granted herein and in the other Loan Documents and all rights or remedies available at law (including, without limitation, the UCC) or equity, whether as a secured party or otherwise (including specifically those granted by the Uniform Commercial Code as in effect in the jurisdiction or jurisdictions where the Collateral is located) and, except as limited by Law, all remedies of Lender (i) shall be cumulative and concurrent; (ii) may be pursued separately, successively or concurrently against Borrower or against all or any portion of the Collateral, at the sole discretion of Lender; (iii) may be exercised as often as occasion therefor shall arise, to it being agreed by Borrower that the exercise or failure to exercise any rights or remedies shall in no event be construed as a waiver or release thereof or of any other right, remedy or recourse; and (iv) are intended to be, and shall be, nonexclusive. To the fullest extent permitted by under applicable Law, Lender may resort to enforce the rightsrights contemplated under this Deed and the Transaction Documents, remedies including the right to enforce any Security, without any notice and recourses set forth herein without assigning any reason and at the risk and expense of the Issuer and if necessary, as attorney for and in name of the Issuer. (d) Upon the occurrence of an Event of Default and for so long as it is continuing, the Issuer shall not, without the prior written consent of the Trustee (acting in accordance with Relevant Instructions), declare or pay any dividend or other security therefor distribution (whether in such order and manner as Lender may electcash or otherwise) to its equity shareholders during any Financial Year unless it has paid in full all the Obligations.

Consequences of Event of Default. 7.2.1 If an Event of Default occurs, Lender may, by notice to Borrower, declare the unpaid principal amount of the Note and interest accrued thereon and all other Obligations and liabilities of Borrower hereunder or under the Note or the Loan Documents to be immediately due and payable and the same shall thereupon become and be immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived, and an action therefor shall immediately accrue. 7.2.2 In addition, if an Event of Default occurs, Lender shall have all rights and remedies granted herein and in the other Loan Documents and all rights or remedies available at law (including, without limitation, the UCC) or equity, whether as a secured party or otherwise (including specifically those granted by the Uniform Commercial Code as in effect in the jurisdiction or jurisdictions where the Collateral is located) and, except as limited by Law, all remedies of Lender (i) shall be cumulative and concurrent; (ii) may be pursued separately, successively or concurrently against Borrower or against all or any portion of the Collateral, at the sole discretion of Lender; (iii) may be exercised as often as occasion therefor shall arise, it being agreed by Borrower that the exercise or failure to exercise any rights or remedies shall in no event be construed as a waiver or release thereof or of any other right, remedy or recourse; and (iv) are intended to be, and shall be, nonexclusive. To the fullest extent permitted by applicable Law, Lender may resort to the rights, remedies and recourses set forth herein and any other security therefor in such order and manner as Lender may elect.