Declaration of Acceleration Clause Samples
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Declaration of Acceleration. If any Event of Default occurs and is continuing, the Agent shall, at the direction of the Required Holders (given in the sole discretion of such Holders) and upon notice to the Company (who shall notify the other Borrowers)
(i) terminate the Commitments or (ii) declare the outstanding principal of, and accrued and unpaid interest on, the Notes and all other amounts owing under this Agreement and the Notes to be immediately due and payable, or either one or both of the foregoing, whereupon the Commitments shall terminate forthwith and all such amounts shall become immediately due and payable, as the case may be; provided, however, that in the case of an Event of Default arising from any event described in clauses (i) or (j) of Section 3.6 hereof, the Loans and the Notes shall ipso facto become due and payable without further action or notice on the part of the Agent or any Holder.
Declaration of Acceleration. If any Event of Default occurs and is continuing, a Holder may, upon notice to the Company, declare the Note held by it to be due and payable immediately; and upon any such declaration all principal and interest on such Note shall become immediately due and payable; provided, however, in the case of an Event of Default arising from any event described in clauses (ix) or (x) of Section 3.5 hereof, all of the Loans and Notes shall ipso facto become due and payable without further action or notice on the part of the Holders.
Declaration of Acceleration. If any Event of Default occurs and is continuing, the Holder may, upon notice to the Company, declare the Amended Tranche A Loan to be due and payable immediately; and upon any such declaration all principal and interest on the Amended Tranche A Loan shall become immediately due and payable; provided, however, in the case of an Event of Default arising from certain events of bankruptcy or insolvency described in clauses (ix) and (x) of Section 3.5 hereof, with respect to the Company or any Subsidiary, the Amended Tranche A Loan shall ipso facto become due and payable without further action or notice on the part of the Holder.
Declaration of Acceleration. If any Event of Default occurs and is continuing, the Holder may, upon notice to the Company, declare the Loans to be due and payable immediately; and upon any such declaration all principal and interest on the Loans shall become immediately due and payable; provided, however, in the case of an Event of Default arising from certain events of bankruptcy or insolvency described in clauses (ix) and (x) of Section 3.5 hereof, with respect to the Company or any Subsidiary, the Loans shall ipso facto become due and payable without further action or notice on the part of the Holder.
Declaration of Acceleration. If any Event of Default occurs and is continuing, the Lender may, at its option and upon notice to the Company, declare the Note to be due and payable immediately; and upon any such declaration all principal and interest on the Loan and the Note shall become immediately due and payable; provided, however, that in the case of an Event of Default arising from any event described in clauses (d) or (e) of Section 3.5 hereof, the Loan and the Note shall ipso facto become automatically due and payable without further action or notice on the part of the Lender.
Declaration of Acceleration. If any of the following events (each, an “Event of Default”) occurs and is continuing:
(i) the Republic defaults in the payment of any principal due and payable on or in respect of the Notes in the relevant Series for more than seven days; or
(ii) the Republic defaults in the payment of any interest due and payable on or in respect of the Notes in the relevant Series for more than 30 days; or
(iii) the Republic defaults in the due performance and observance of any other provision contained in the Notes in the relevant Series and such default (if capable of remedy) is not remedied for 30 days after written notice thereof shall have been given to the Republic at the specified office of the Fiscal Agent; or
(iv) there occurs any default by the Republic in the due and punctual payment of the principal of, or premium or prepayment charge, if any, or interest on, any Public External Indebtedness of or assumed or guaranteed by the Republic having an aggregate principal amount in excess of U.S.$20,000,000 (or its equivalent in any other currency or currencies) when and as the same shall become due and payable, and such default shall continue for more than the original period of grace, if any, applicable thereto, unless such payment is being contested in good faith
Declaration of Acceleration. If any Event of Default occurs and is continuing, Lender may (subject to the terms of the Subordination Agreement), upon notice to Borrower, declare the Loan to be due and payable immediately; and upon any such declaration all principal and interest on the Loan shall become immediately due and payable; provided, however, in the case of an Event of Default arising from certain events of insolvency described in Section 8.1(b), with respect to Borrower, the Loan shall ipso facto become due and payable without further action or notice on the part of Lender.