Debtor Relief. If an Event of Default exists under SECTION 11.3, the commitment to extend credit under this agreement automatically terminates, the entire unpaid balance of the Principal Debt and an accrued and unpaid portion of the remaining Obligation automatically becomes due and payable without any action of any kind whatsoever.
Appears in 2 contracts
Sources: Credit Agreement (Teppco Partners Lp), Credit Agreement (Teppco Partners Lp)
Debtor Relief. If an Event of a Default exists (i) occurs under SECTION 11.310.3(c) or (ii) occurs and is continuing under SECTION 10.3(a), (b) OR (d), the commitment to extend credit under this agreement Agreement automatically terminates, the entire unpaid balance of the Principal Debt and an accrued and unpaid portion of the remaining Obligation automatically becomes due and payable without any action of any kind whatsoever.
Appears in 2 contracts
Sources: Credit Agreement (Prentiss Properties Trust/Md), Credit Agreement (Prentiss Properties Trust/Md)
Debtor Relief. If an Event of a Default exists under SECTION 11.3, the commitment to extend credit under this agreement automatically terminates, the entire unpaid balance of the Principal Debt and an accrued and unpaid portion of the remaining Obligation automatically becomes due and payable without any action of any kind whatsoever.
Appears in 1 contract
Sources: Credit Agreement (Magnetek Inc)
Debtor Relief. If an Event of a Default exists under SECTION 11.3, the commitment to extend credit under this agreement automatically terminates, the entire unpaid balance of the Principal Debt and an accrued and unpaid portion of the remaining Obligation Obligations automatically becomes due and payable without any action of any kind whatsoever.
Appears in 1 contract
Sources: Credit Agreement (Pillowtex Corp)