Common use of Effect of a Default Clause in Contracts

Effect of a Default. Upon the occurrence and during the continuation of any Event of Default, the Administrative Agent shall at the request, or may with the consent, of the Required Lenders, by notice to the Obligors (i) declare the Total Commitment and the obligation of each of the Lenders to make Advances to the Canadian Borrower or the US Borrower to be terminated, whereupon the same shall forthwith terminate, and/or (ii) declare the Loan, all interest accrued and unpaid thereon and all other amounts payable by the Obligors under or pursuant to this Agreement and the other Loan Documents to be forthwith due and payable, whereupon the Loan, all such accrued interest and all such other amounts shall become and be forthwith immediately due and payable, without presentment, demand, protest or further notice of any kind, all of which are hereby expressly waived by the Obligors. Thereupon the Obligors shall immediately pay to the Administrative Agent all such amounts due and payable. In addition to the foregoing, if an Event of Default pursuant to Section 16.1.8 shall occur, the Total Commitment and the obligation of each Lender to make Advances shall automatically be terminated and the Loan, all interest accrued and unpaid thereon and all other amounts payable by the Obligors under or pursuant to this Agreement and the other Loan Documents shall automatically be and become immediately due and payable, without presentment, demand, protest or any notice of any kind, all of which are hereby expressly waived by the Obligors, and thereupon the Obligors shall immediately pay to the Administrative Agent all such amounts due and payable. For greater certainty, the Obligors will be considered to be in default of their obligations hereunder by the mere lapse of time provided for performing such obligations, without any requirement of further notice or other act of the Administrative Agent or the Lenders unless a notice is specifically required hereunder. If an Event of Default shall have occurred and be continuing, the Lenders and/or the Administrative Agent on behalf of itself and the Lenders shall at the request of, or may with the consent of, the Required Lenders immediately exercise all rights and remedies they may have under this Agreement and the other Loan Documents and by law, all without any additional notice, presentment, demand, protest, notice of dishonour, entering into possession of any of the property or other Assets, or any other action, of all of which are expressly waived by the Obligors.

Effect of a Default. Upon the occurrence and during the continuation of any Event of Default, the Administrative Agent shall at the request, or may with the consent, of the Required LendersRequisite Holders, by notice to the Obligors (i) Company, may declare the Total Commitment and the obligation of each of the Lenders to make Advances to the Canadian Borrower or the US Borrower to be terminated, whereupon the same shall forthwith terminate, and/or (ii) declare the LoanNotes, all interest accrued and unpaid thereon and all other amounts payable by the Obligors Company under or pursuant to this Agreement and the other Loan Documents Notes to be forthwith due and payable, whereupon the Loanoutstanding principal amount of the Notes, all such accrued interest and all such other amounts shall become and be forthwith immediately due and payable, without presentment, demand, protest or further notice of any kind, all of which are hereby expressly waived by the ObligorsCompany. Thereupon Thereupon, the Obligors Company shall immediately pay to the Administrative Agent Holders all such amounts due and payable. In addition to the foregoing, if an Event of Default pursuant to Section 16.1.8 Sections 8.1(b) or 8.1(e) shall occur, the Total Commitment and outstanding principal amount of the obligation of each Lender to make Advances shall automatically be terminated and the LoanNotes, all interest accrued and unpaid thereon and all other amounts payable by the Obligors Company under or pursuant to this Agreement and the other Loan Documents Notes shall automatically be and become immediately due and payable, without presentment, demand, protest or any notice of any kind, all of which are hereby expressly waived by the ObligorsCompany, and thereupon the Obligors Company shall immediately pay to the Administrative Agent Holders all such amounts due and payable. For greater certainty, the Obligors Company will be considered to be in default of their its obligations hereunder by the mere lapse of time provided for performing such obligations, without any requirement of further notice or other act of the Administrative Agent or the Lenders any Holder unless a notice is specifically required hereunder. If an Event of Default shall have occurred and be continuing, the Lenders and/or the Administrative Agent on behalf of itself and the Lenders shall at the request of, or Holders may with the consent of, the Required Lenders immediately exercise all rights and remedies they may have under this Agreement and the other Loan Documents Notes and by lawLaw, all without any additional notice, presentment, demand, protest, notice of dishonour, entering into possession of any of the property or other Assetsdishonor, or any other action, notice of all of which are expressly waived by the ObligorsCompany.

Effect of a Default. Upon the occurrence and during the continuation of any Event of Default, the Administrative Agent shall at the request, or may with the consent, of the Required Majority Lenders, by notice to the Obligors (i) declare the Total Commitment Credit Facility and the obligation of each of the Lenders to make Advances to the Canadian Borrower or the US Borrower to be terminated, whereupon the same shall forthwith terminate, and/or (ii) declare the LoanLoans, all interest accrued and unpaid thereon and all other amounts payable by the Obligors under or pursuant to this Agreement and the other Loan Documents to be forthwith due and payable, whereupon the LoanLoans, all such accrued interest and all such other amounts shall become and be forthwith immediately due and payable, without presentment, demand, protest or further notice of any kind, all of which are hereby expressly waived by the Obligors. Thereupon the Obligors shall immediately pay to the Administrative Agent all such amounts due and payable. In addition to the foregoing, if an Event of Default pursuant to Section 16.1.8 14.1.8 shall occur, the Total Commitment Credit Facility and the obligation of each Lender to make Advances shall automatically be terminated and the LoanLoans, all interest accrued and unpaid thereon and all other amounts payable by the Obligors under or pursuant to this Agreement and the other Loan Documents shall automatically be and become immediately due and payable, without presentment, demand, protest or any notice of any kind, all of which are hereby expressly waived by the Obligors, and thereupon the Obligors shall immediately pay to the Administrative Agent all such amounts due and payable. For greater certainty, the Obligors will be considered to be in default of their obligations hereunder by the mere lapse of time provided for performing such obligations, without any requirement of further notice or other act of the Administrative Agent or the Lenders unless a notice is specifically required hereunder. If an Event of Default shall have occurred and be continuing, the Lenders and/or the Administrative Agent on behalf of itself and the Lenders shall at the request of, or may with the consent of, the Required Majority Lenders immediately exercise all rights and remedies they may have under this Agreement and the other Loan Documents and by lawApplicable Law, all without any additional notice, presentment, demand, protest, notice of dishonour, entering dishonour and enter into possession of any of the property or other AssetsCollateral, or any other action, of all of which are expressly waived by the Obligors.

Effect of a Default. Upon Subject to section 10.4, upon the occurrence and during the continuation of any Event of DefaultDefault which has not been waived, the Administrative Agent shall at the request, or may with the consent, of the Required Lenders, by notice to the Obligors Borrower, (i) declare the Total Commitment and the obligation of each of the Lenders to make Advances to the Canadian Borrower or the US Borrower to be terminated, whereupon the same shall forthwith terminate, and/or (ii) declare the Loan, all interest accrued and unpaid thereon and all other amounts payable by the Obligors under or pursuant to this Agreement and the other Loan Documents to be forthwith due and payable, whereupon the Loan, all such accrued interest and all such other amounts shall become and be forthwith immediately due and payable, without presentment, demand, protest or further notice of any kind, all of which are hereby expressly waived by the Obligors. Thereupon the Obligors shall immediately pay to the Administrative Agent all such amounts due and payable. In addition to the foregoing, if an Event of Default pursuant to Section 16.1.8 subsection 13.1.8 shall occur, the Total Commitment and the obligation of each Lender to make Advances shall automatically be terminated and the Loan, all interest accrued and unpaid thereon and all other amounts payable by the Obligors under or pursuant to this Agreement and the other Loan Documents shall automatically be and become immediately due and payable, without presentment, demand, protest or any notice of any kind, all of which are hereby expressly waived by the Obligors, and thereupon the Obligors shall immediately pay to the Administrative Agent all such amounts due and payable. For greater certainty, the Obligors will be considered to be in default of their obligations hereunder by the mere lapse of time provided for performing such obligations, without any requirement of further notice or other act of the Administrative Agent or the Lenders unless a notice is specifically required hereunder. If an Event of Default shall have occurred and be continuingwhich has not been waived, the Lenders and/or the Administrative Agent on behalf of itself and the Lenders shall at the request of, or may with the consent of, the Required Lenders immediately exercise all rights and remedies they may have under this Agreement and the other Loan Documents and by law, all without any additional notice, presentment, demand, protest, notice of dishonour, entering into possession of any of the property or other Assets, or any other action, of all of which are expressly waived by the Obligors. For the purpose of this Section 13.2, "Loan Documents" shall expressly exclude the Permitted Hedging Agreements and all documents, instruments and agreements delivered by a member of the Group in connection therewith.

Effect of a Default. Upon the occurrence and during the continuation of any Event of Default, the Administrative Agent shall at the request, or may with the consent, of the Required Lenders, by notice to the Obligors (i) declare the Total Commitment and the obligation of each of the Lenders to make Advances to the Canadian Borrower or the US Borrower to be terminated, whereupon the same shall forthwith terminate, and/or (ii) declare the Loan, all interest accrued and unpaid thereon and all other amounts payable by the Obligors under or pursuant to this Agreement and the other Loan Documents to be forthwith due and payable, whereupon the Loan, all such accrued interest and all such other amounts shall become and be forthwith immediately due and payable, without presentment, demand, protest or further notice of any kind, all of which are hereby expressly waived by the Obligors. Thereupon the Obligors shall immediately pay to the Administrative Agent all such amounts due and payable. In addition to the foregoing, if an Event of Default pursuant to Section 16.1.8 15.1.8 shall occur, the Total Commitment and the obligation of each Lender to make Advances shall automatically be terminated and the Loan, all interest accrued and unpaid thereon and all other amounts payable by the Obligors under or pursuant to this Agreement and the other Loan Documents shall automatically be and become immediately due and payable, without presentment, demand, protest or any notice of any kind, all of which are hereby expressly waived by the Obligors, and thereupon the Obligors shall immediately pay to the Administrative Agent all such amounts due and payable. For greater certainty, the Obligors will be considered to be in default of their obligations hereunder by the mere lapse of time provided for performing such obligations, without any requirement of further notice or other act of the Administrative Agent or the Lenders unless a notice is specifically required hereunder. If an Event of Default shall have occurred and be continuing, the Lenders and/or the Administrative Agent on behalf of itself and the Lenders shall at the request of, or may with the consent of, the Required Lenders immediately exercise all rights and remedies they may have under this Agreement and the other Loan Documents and by law, all without any additional notice, presentment, demand, protest, notice of dishonour, entering into possession of any of the property or other Assets, or any other action, of all of which are expressly waived by the Obligors.​ ​

Effect of a Default. Upon the occurrence and during the continuation of any Event of Default, the Administrative Agent shall at the request, or may with the consent, of the Required Majority Lenders, by notice to the Obligors Company (i) declare the Total Commitment and the obligation of each of the Lenders to make Advances or Bid Advances to the Canadian Borrower or the US Borrower to be terminated, whereupon the same shall forthwith terminate, and/or (ii) declare the Loan and the Bid Loan, all interest accrued and unpaid thereon and all other amounts payable by the Obligors under or pursuant to this Agreement and the other Loan Documents to be forthwith due and payable, whereupon the Loan and the Bid Loan, all such accrued interest and all such other amounts shall become and be forthwith immediately due and payable, without presentment, demand, protest or further notice of any kind, all of which are hereby expressly waived by the ObligorsBorrower and each of the Guarantors. Thereupon the Obligors Borrower shall immediately pay to the Administrative Agent all such amounts due and payable. In addition to the foregoing, if in the event of the institution of any proceeding against the Borrower or a Material Subsidiary or the Borrower or any Material Subsidiary making an Event assignment for the general benefit of Default pursuant creditors or otherwise voluntarily initiating any proceeding in respect of its property or creditors under any Law relating to Section 16.1.8 shall occurbankruptcy, insolvency or organization or relief of debtors the effect of which is to cause an automatic stay to come into effect with respect to the Borrower or a Material Subsidiary or an actual or deemed entry of an order for relief with respect to any proceeding instituted by or against the Borrower or a Material Subsidiary under the U.S. Federal Bankruptcy Code, the Total Commitment Bankruptcy and Insolvency Act (Canada) or the Companies' Creditors Arrangement Act (Canada) (as amended, supplemented or replaced from time to time), as may be applicable, or any other applicable bankruptcy or insolvency laws which provide for an automatic stay, the obligation of each Lender to make Advances or Bid Advances shall automatically be terminated and the Loan and the Bid Loan, all interest accrued and unpaid thereon and all other amounts payable by the Obligors under or pursuant to this Agreement and the other Loan Documents shall automatically be and become immediately due and payable, without presentment, demand, protest or any notice of any kind, all of which are hereby expressly waived by the Obligors, Borrower and thereupon each of the Obligors shall immediately pay to the Administrative Agent all such amounts due and payableGuarantors. For greater certainty, the Obligors Borrower and each of the Guarantors will be considered to be in default of their obligations hereunder by the mere lapse of time provided herein for performing such obligations, without any requirement of further notice or other act of the Administrative Agent or the Lenders unless a notice is specifically required hereunder. If an Event of Default shall have occurred and be continuing, the Lenders and/or the Administrative Agent on behalf of itself and the Lenders shall at the request of, or may with the consent of, the Required Lenders immediately exercise all rights and remedies they may have under this Agreement and the other Loan Documents and by law, all without any additional notice, presentment, demand, protest, notice of dishonour, entering into possession of any of the property or other Assets, or any other action, of all of which are expressly waived by the Obligors.

Effect of a Default. Upon the occurrence and during the continuation of any Event of Default, the Administrative Agent shall at the request, or may with the consent, of the Required Majority Lenders, by notice to the Obligors Borrower (i) declare the Total Commitment and the obligation of each of the Lenders to make Advances or Bid Advances to the Canadian Borrower or the US Borrower to be terminated, whereupon the same shall forthwith terminate, and/or (ii) declare the Loan and the Bid Loan, all interest accrued and unpaid thereon and all other amounts payable by the Obligors under or pursuant to this Agreement and the other Loan Documents to be forthwith due and payable, whereupon the Loan and the Bid Loan, all such accrued interest and all such other amounts shall become and be forthwith immediately due and payable, without presentment, demand, protest or further notice of any kind, all of which are hereby expressly waived by the ObligorsBorrower and each of the Guarantors. Thereupon the Obligors Borrower shall immediately pay to the Administrative Agent all such amounts due and payable. In addition to the foregoing, if in the event of the institution of any proceeding against the Borrower or a Material Subsidiary or the Borrower or any Material Subsidiary making an Event assignment for the general benefit of Default pursuant creditors or otherwise voluntarily initiating any proceeding in respect of its property or creditors under any Law relating to Section 16.1.8 shall occurbankruptcy, insolvency or organization or relief of debtors the effect of which is to cause an automatic stay to come into effect with respect to the Borrower or a Material Subsidiary or an actual or deemed entry of an order for relief with respect to any proceeding instituted by or against the Borrower or a Material Subsidiary under the U.S. Federal Bankruptcy Code, the Total Commitment Bankruptcy and Insolvency Act (Canada) or the Companies' Creditors Arrangement Act (Canada) (as amended, supplemented or replaced from time to time), as may be applicable, or any other applicable bankruptcy or insolvency laws which provide for an automatic stay, the obligation of each Lender to make Advances or Bid Advances shall automatically be terminated and the Loan and the Bid Loan, all interest accrued and unpaid thereon and all other amounts payable by the Obligors under or pursuant to this Agreement and the other Loan Documents shall automatically be and become immediately due and payable, without presentment, demand, protest or any notice of any kind, all of which are hereby expressly waived by the Obligors, Borrower and thereupon each of the Obligors shall immediately pay to the Administrative Agent all such amounts due and payableGuarantors. For greater certainty, the Obligors Borrower and each of the Guarantors will be considered to be in default of their obligations hereunder by the mere lapse of time provided herein for performing such obligations, without any requirement of further notice or other act of the Administrative Agent or the Lenders unless a notice is specifically required hereunder. If an Event of Default shall have occurred and be continuing, the Lenders and/or the Administrative Agent on behalf of itself and the Lenders shall at the request of, or may with the consent of, the Required Lenders immediately exercise all rights and remedies they may have under this Agreement and the other Loan Documents and by law, all without any additional notice, presentment, demand, protest, notice of dishonour, entering into possession of any of the property or other Assets, or any other action, of all of which are expressly waived by the Obligors.

Effect of a Default. Upon the occurrence and during the continuation of any Event of Default, the Administrative Agent shall at the request, or may with the consent, of the Required LendersRequisite Holders, by notice to the Obligors (i) Company, may declare the Total Commitment and the obligation of each of the Lenders to make Advances to the Canadian Borrower or the US Borrower to be terminated, whereupon the same shall forthwith terminate, and/or (ii) declare the LoanNotes, all interest accrued and unpaid thereon and all other amounts payable by the Obligors Company under or pursuant to this Agreement Agreement, the Notes and the other Loan Notes Documents to be forthwith due and payable, whereupon the Loanoutstanding principal amount of the Notes, all such accrued interest and all such other amounts shall become and be forthwith immediately due and payable, without presentment, demand, protest or further notice of any kind, all of which are hereby expressly waived by the ObligorsCompany. Thereupon Thereupon, the Obligors Company shall immediately pay to the Administrative Agent Holders all such amounts due and payable. In addition to the foregoing, if an Event of Default pursuant to Section 16.1.8 Sections 7.1(b) or 7.1(c) shall occur, the Total Commitment and outstanding principal amount of the obligation of each Lender to make Advances shall automatically be terminated and the LoanNotes, all interest accrued and unpaid thereon and all other amounts payable by the Obligors Company under or pursuant to this Agreement Agreement, the Notes and the other Loan Notes Documents shall automatically be and become immediately due and payable, without presentment, demand, protest or any notice of any kind, all of which are hereby expressly waived by the ObligorsCompany, and thereupon the Obligors Company shall immediately pay to the Administrative Agent Holders all such amounts due and payable. For greater certainty, the Obligors Company will be considered to be in default of their its obligations hereunder by the mere lapse of time provided for performing such obligations, without any requirement of further notice or other act of the Administrative Agent or the Lenders any Holder unless a notice is specifically required hereunder. If an Event of Default shall have occurred and be continuing, the Lenders and/or the Administrative Agent on behalf of itself and the Lenders shall at the request of, or Holders may with the consent of, the Required Lenders immediately exercise all rights and remedies they may have under this Agreement Agreement, the Notes and the other Loan Notes Documents and by lawLaw, all without any additional notice, presentment, demand, protest, notice of dishonour, entering into possession of any of the property or other Assets, dishonor or any other action, notice of all of which are expressly waived by the ObligorsCompany.

Effect of a Default. Upon the occurrence and during the continuation of any Event of Default, the Administrative Agent shall at the request, or may with the consent, of the Required Lenders, by notice to the Obligors (i) declare the Total Commitment and the obligation of each of the Lenders to make Advances to the Canadian Borrower or the US Borrower to be terminated, whereupon the same shall forthwith terminate, and/or (ii) declare the Loan, all interest accrued and unpaid thereon and all other amounts payable by the Obligors under or pursuant to this Agreement and the other Loan Documents to be forthwith due and payable, whereupon the Loan, all such accrued interest and all such other amounts shall become and be forthwith immediately due and payable, without presentment, demand, protest or further notice of any kind, all of which are hereby expressly waived by the Obligors. Thereupon the Obligors shall immediately pay to the Administrative Agent all such amounts due and payable. In addition to the foregoing, if an Event of Default pursuant to Section 16.1.8 shall occur, the Total Commitment and the obligation of each Lender to make Advances shall automatically be terminated and the Loan, all interest accrued and unpaid thereon and all other amounts payable by the Obligors under or pursuant to this Agreement and the other Loan Documents shall automatically be and become immediately due and payable, without presentment, demand, protest or any notice of any kind, all of which are hereby expressly waived by the Obligors, and thereupon the Obligors shall immediately pay to the Administrative Agent all such amounts due and payable. For greater certainty, the Obligors will be considered to be in default of their obligations hereunder by the mere lapse of time provided for performing such obligations, without any requirement of further notice or other act of the Administrative Agent or the Lenders unless a notice is specifically required hereunder. If an Event of Default shall have occurred and be continuing, the Lenders and/or the Administrative Agent on behalf of itself and the Lenders shall at the request of, or may with the consent of, the Required Lenders immediately exercise all rights and remedies they may have under this Agreement and the other Loan Documents and by law, all without any additional notice, presentment, demand, protest, notice of dishonour, entering into possession of any of the property or other Assets, or any other action, of all of which are expressly waived by the Obligors.. 176