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 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 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.

Consequences of Event of Default. 7.2.1 If an Event of Default occurs and is continuingoccurs, 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 occurs and is continuingoccurs, 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 (a) If an Event of Default occurs and is continuingoccurs, 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 the Loan Commencement Date, Lender may, at its option, terminate and cancel its agreement to make Advances. 7.2.2 (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 and is continuingoccurs, 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 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 and is continuingoccurs, 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 specified in any of items (a) through (l) or item (o) or (p) of Section 8.01 hereof shall occur and is be continuing, the Lenders shall be under no further obligation to make Revolving Credit Loans hereunder, the L/C Issuer shall be under no further obligation to issue or amend Letters of Credit hereunder, the Swingline Lender shall be under no further obligation to make Swingline Loans hereunder, and the Agent may, and upon the request of the Required Lenders shall, by written notice to the Borrower, terminate the Revolving Credit Commitment and declare the unpaid principal amount of the Note Notes then outstanding and all interest accrued thereon thereon, any unpaid fees and all other Obligations Indebtedness of the Borrower to the Lenders, the Agent, the L/C Issuer or the Swingline Lender hereunder and liabilities of Borrower hereunder or under the Note or the other Loan Documents to be immediately forthwith due and payable payable, and the same shall thereupon become and be immediately due and payable to the Agent for the benefit of each Lender, the Agent, the L/C Issuer and the Swingline Lender without presentment, demand, protest or any other notice of any kind, all of which are hereby expressly waived; and (b) If any Event of Default specified in item (m) or (n) of Section 8.01 hereof shall occur, the Lenders shall be under no further obligations to make Revolving Credit Loans hereunder, the L/C Issuer shall be under no further obligation to issue or amend Letters of Credit hereunder, the L/C Issuer shall be under no further obligation to issue or amend Letters of Credit hereunder, the Swingline Lender shall be under no further obligation to make Swingline Loans hereunder, the Revolving Credit Commitment shall be terminated and an action therefor the unpaid principal amount of the Notes then outstanding and all interest accrued thereon, any unpaid fees and all other Indebtedness of the Borrower to the Lenders, the Agent, the L/C Issuer and the Swingline Lender hereunder and under the other Loan Documents shall be immediately accrue. In additiondue and payable, if without presentment, demand, protest or notice of any kind, all of which are hereby expressly waived; further, during the thirty (30) day period referred to in item (m) the Lenders shall be under no further obligation to make Revolving Credit Loans, the L/C 65 Issuer shall be under no further obligation to issue or amend Letters of Credit hereunder, the Swingline Lender shall be under no further obligation to make Swingline Loans hereunder; and (c) If an Event of Default occurs shall occur 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 occurs and is be continuing, any Lender, the Agent or the L/C Issuer to whom any obligation is owed by the Borrower hereunder or under any other Loan Document, of such Lender, Agent, L/C Issuer or Swingline Lender and any branch, subsidiary or affiliate of such Lender, Agent, L/C Issuer or Swingline Lender anywhere in the world shall each have the right, in addition to all other rights and remedies granted herein available to it, without notice to the Borrower, to set-off against and in apply to the then unpaid balance of all the Loans and all other obligations of the Borrower hereunder or under any other Loan Documents Document, any debt owing to, and all rights any other funds held in any manner for the account of, the Borrower by such Lender, Agent, L/C Issuer or remedies available at law (Swingline Lender or by such branch, subsidiary or affiliate, including, without limitation, all funds in all deposit accounts (whether time or demand, general or special, provisionally credited or finally credited, or otherwise) now or hereafter maintained by the UCCBorrower for its own account (but not including funds held in custodian or trust accounts) with such Lender, Agent, L/C Issuer or equitySwingline Lender or such branch, subsidiary or affiliate. Such right shall exist in each case whether or not any Lender, the Agent, the L/C Issuer or the Swingline Lender shall have made any demand under this Agreement or any other Loan Document, whether as or not such debt owing to or funds held for the account of the Borrower is or are matured or unmatured and regardless of the existence or adequacy of any other security, right or remedy available to any Lender, the Agent, the L/C Issuer or the Swingline Lender; and (d) In addition to all of the rights and remedies contained in this Agreement or in any of the other Loan Documents, the Agent, the L/C Issuer, the Swingline Lender and the Lenders shall have all of the rights and remedies of 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 creditor under applicable Law, all of which rights and remedies of Lender (i) shall be cumulative and concurrent; (ii) may be pursued separatelynon-exclusive, successively or concurrently against Borrower or against all or any portion to the extent permitted by Law. The Agent may, and upon the request of the CollateralRequired Lenders shall, at exercise all post-default rights granted to the sole discretion Agent, the L/C Issuer, the Swingline Lender and the Lenders under the Loan Documents or applicable Law; and (e) Upon the occurrence of Lender; any Event of Default described in the foregoing Sections 8.01(m) or (iiin) may be exercised as often as occasion therefor shall arise, it being agreed or upon the declaration 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 Required Lenders of any other rightEvent of Default and the termination of the Revolving Credit Commitments, remedy the obligation of the L/C Issuer to issue or recourse; and (iv) are intended amend Letters of Credit shall terminate, the L/C Issuer or the Agent may provide written demand to beany beneficiary of a Letter of Credit to present a draft against such Letter of Credit, and shall be, nonexclusive. To the fullest extent permitted by applicable Law, Lender may resort an amount equal to the rightsmaximum amount which may at any time be drawn under the Letters of Credit then outstanding (whether or not any beneficiary of such Letters of Credit shall have presented, remedies or shall be entitled at such time to present, the drafts or other documents required to draw under the Letters of Credit) shall automatically become immediately due and recourses set forth herein payable, without presentment, demand, protest or other requirements of any kind, all of which are hereby expressly waived by the Borrower; provided that the foregoing shall not affect in any way the obligations of the Lenders to purchase from the L/C Issuer participations in the unreimbursed amount of any drawings under the Letters of Credit as provided in Section 2.17(c). So long as the Letters of Credit shall remain outstanding, any amounts declared due pursuant to this Section 8.02(e) with respect to the outstanding Letters of Credit when received by the Agent shall be deposited and held by the Agent in an interest bearing account denominated in the name of the Agent for the benefit of the Agent, the Lenders and the L/C Issuer over which the Agent shall have sole dominion and control of withdrawals (the "CASH COLLATERAL ACCOUNT") as cash collateral for the obligation of the Borrower to reimburse the L/C Issuer in the event of any other security therefor drawing under the Letters of Credit and upon any drawing under such Letters of Credit in respect of which the Agent has deposited in the Cash Collateral Account any amounts declared due pursuant to this Section 8.02(e), the Agent shall apply such order amounts held by the Agent to reimburse the L/C Issuer for the amount of such drawing. In the event that any Letter of Credit in respect of which the Agent has deposited in the Cash Collateral Account any amounts described above is cancelled or expires or in the event of any reduction in the maximum amount available at any time for drawing under the Letters of Credit outstanding, the Agent shall apply the amount then in the Cash Collateral Account designated to reimburse the L/C Issuer for any drawings under the Letters of Credit less the maximum amount available at any time for drawing under the Letters of Credit outstanding immediately after such cancellation, expiration or reduction, if any, to the payment in full of the outstanding Lender Obligations, and manner as Lender may electsecond, to the payment of any excess, to the Borrower.

Consequences of Event of Default. 7.2.1 If an Event of Default occurs and is continuingoccurs, 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 occurs and is continuingoccurs, 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 and is continuingoccurs, 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. . 8.2.2 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 occurs and is continuingoccurs, 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 Event of Default occurs and is continuingoccurs, 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 occurs and is continuingoccurs, 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 happening/occurrence of any Event of Default occurs (as mentioned hereinabove and is continuingunder the Loan Agreement/Master Loan Agreement), Lender maywithout prejudice to Lender’s rights and remedies under contract or law or equity, by and without necessity of any demand upon or notice to the 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 waivedwaived by the Borrower, and an action therefor notwithstanding anything to the contrary contained herein or in any other documents pursuant hereto, the Lender may at its absolute discretion, pursue any or all of the following, and whether successively, concurrently, simultaneously or otherwise: a. declare the Fast Track Loan and the entire Outstanding Balance, to have become due and payable by the Borrower to Lender forthwith thereupon, and recall the same in which event the Borrower shall immediately accruebe liable to forthwith pay to the Lender the entire Outstanding Balance including the Fast Track Loan (including the interest, all the charges and other interests, dues and monies payable, costs and expenses reimbursable, by the Borrower to the Lender with regards to the Fast Track Loan); b. at the cost and expense of the Borrower, initiate such proceedings/actions/steps for recovery of dues as necessary and/or enforce the Security or any part thereof, including to, take possession, seize, recover, appoint a receiver/manager, remove the Asset(s) from their place of standing, and also on such terms as may be deemed fit by the Lender, with or without the intervention of court or authority, to sell, transfer or dispose off the Asset(s)/assets of the Borrower or any part thereof whether by means of private treaty or public auction/tender or otherwise at the discretion of Lender and realize its claims in respect of the Fast Track Loan and/or the Original Loan without being bound or being liable for any loss/losses that the Borrower may suffer due to such action. The Lender shall be entitled to handover to the purchasers, all the originals pertaining to the any Asset(s), including the RC book, forms etc. c. exercise any of the rights/remedies available to the Lender under the SARFAESI Act and/or the DRT Act (if applicable) and/or the IBC, in accordance with the provisions thereof, as against the or any other Person or any of their assets. d. exercise any of the rights under the Repossession Clause. In additionthis behalf, 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 occurs and is continuing, the Lender shall have all rights be entitled to follow the procedure and remedies granted herein and take such actions as set out 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 clause 11 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 electLoan Agreement/Master Loan Agreement.