Common use of Effect of Event of Default Clause in Contracts

Effect of Event of Default. If any Event of Default described in Section 11.1.3 shall occur, the Commitments (if they have not theretofore terminated) shall immediately terminate and all Loans and all interest and other amounts due hereunder shall become immediately due and payable, all without presentment, demand or notice of any kind; and, in the case of any other Event of Default, the Agent may, and upon written request of the Required Banks shall, declare the Commitments (if they have not theretofore terminated) to be terminated and all Loans and all interest and other amounts due hereunder to be due and payable, whereupon the Commitments (if they have not theretofore terminated) shall immediately terminate and all Loans and all interest and other amounts due hereunder shall become immediately due and payable, all without presentment, demand or notice of any kind. The Agent shall promptly advise the Company and each Bank of any such declaration, but failure to do so shall not impair the effect of such declaration.

Appears in 14 contracts

Samples: Credit Agreement (International Lease Finance Corp), Assignment and Assumption Agreement (International Lease Finance Corp), Day Revolving Credit Agreement (International Lease Finance Corp)

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Effect of Event of Default. If any Event of Default described in Section 11.1.3 10.1.3 shall occur, the Commitments (if they have not theretofore terminated) shall immediately terminate and all Committed Loans and all interest and other amounts due hereunder shall become immediately due and payable, all without presentment, demand or notice of any kind; and, in the case of any other Event of Default, the Agent may, and upon written request of the Required Banks Lenders shall, declare the Commitments (if they have not theretofore terminated) to be terminated and all Committed Loans and all interest and other amounts due hereunder to be due and payable, whereupon the Commitments (if they have not theretofore terminated) shall immediately terminate and all Committed Loans and all interest and other amounts due hereunder shall become immediately due and payable, all without presentment, demand or notice of any kind. The Agent shall promptly advise the Company and each Bank Lender of any such declaration, but failure to do so shall not impair the effect of such declaration.

Appears in 6 contracts

Samples: Revolving Credit Agreement (AerCap Holdings N.V.), Revolving Credit Agreement, Revolving Credit Agreement (AerCap Holdings N.V.)

Effect of Event of Default. If (a) any Event of Default described in Section 11.1.3 8.1(J) shall occur, the Commitments (if they have not theretofore terminated) shall immediately terminate and all Loans and all interest and other amounts due hereunder Notes shall become immediately due and payable, all without presentment, demand demand, protest or notice of any kind, or any action by Agent or any of the Lenders; and, in the case of and (b) any other Event of DefaultDefault shall occur (other than an Event of Default described in Section 8.1(J)), the Agent may, may (and upon written request of the Required Banks Lenders, shall, ) declare the Commitments (if they have not theretofore terminated) to be terminated and all Loans and all interest and other amounts due hereunder Notes to be due and payable, whereupon the Commitments (if they have not theretofore terminated) shall immediately terminate and all Loans and all interest and other amounts due hereunder Notes shall become immediately due and payable, all without presentment, demand demand, protest or notice of any kind. The Agent shall promptly advise the Company Borrowers and each Bank Lender of any such declaration, but failure to do so shall not impair the effect of such declaration.

Appears in 5 contracts

Samples: Loan and Security Agreement (Cmgi Inc), Loan and Security Agreement (Cmgi Inc), Loan and Security Agreement (ModusLink Global Solutions Inc)

Effect of Event of Default. If any Event of Default described in Section 11.1.3 10.1.3 shall occur, the Commitments (if they have not theretofore terminated) shall immediately terminate and all Committed Loans and all interest and other amounts due hereunder shall become immediately due and payable, all without presentment, demand or notice of any kind; and, in the case of any other Event of Default, the Agent may, and upon written request of the Required Banks shall, declare the Commitments (if they have not theretofore terminated) to be terminated and all Committed Loans and all interest and other amounts due hereunder to be due and payable, whereupon the Commitments (if they have not theretofore terminated) shall immediately terminate and all Committed Loans and all interest and other amounts due hereunder shall become immediately due and payable, all without presentment, demand or notice of any kind. The Agent shall promptly advise the Company and each Bank of any such declaration, but failure to do so shall not impair the effect of such declaration.

Appears in 3 contracts

Samples: Revolving Credit Agreement (International Lease Finance Corp), Assignment and Assumption Agreement (International Lease Finance Corp), Credit Agreement (International Lease Finance Corp)

Effect of Event of Default. If any Event of Default described in Section 11.1.3 9.1.4 shall occur, the Commitments Commitment (if they have it has not theretofore terminated) shall immediately terminate and all the Loans and all interest and other amounts due obligations hereunder shall become immediately due and payable, all without presentment, demand demand, protest or notice of any kind; and, in the case of if any other Event of DefaultDefault shall occur and be continuing, the Agent may, and upon written request of the Required Banks shall, Bank may declare the Commitments Commitment (if they have it has not theretofore terminated) to be terminated and and/or declare all Loans and all interest and other amounts due obligations hereunder to be due and payable, whereupon the Commitments Commitment (if they have it has not theretofore terminated) shall immediately terminate and and/or all Loans and all interest and other amounts due obligations hereunder shall become immediately due and payable, all without presentment, demand demand, protest or notice of any kind. The Agent Bank shall promptly advise the Company and each Bank Borrower of any such declaration, but failure to do so shall not impair the effect of such declaration.

Appears in 2 contracts

Samples: Credit Agreement (Bingham Financial Services Corp), Credit Agreement (Bingham Financial Services Corp)

Effect of Event of Default. If any Event of Default described in Section 11.1.3 10.1.3 shall occur, the Commitments (if they have not theretofore terminated) shall immediately terminate and all Committed Loans and all interest and other amounts due hereunder shall become immediately due and payable, all without presentment, demand or notice of any kind; and, in the case of any other Event of Default, the Agent may, and upon written request of the Required Banks Lenders shall, declare the Commitments (if they have not theretofore terminated) to be terminated and all Committed Loans and all interest and other amounts due hereunder to be due and payable, whereupon the Commitments (if they have not theretofore terminated) shall immediately terminate and all Committed Loans and all interest and other amounts due hereunder shall become immediately due and payable, all without presentment, demand or notice of any kind. The Agent shall promptly advise the Company and each Bank Lender of any such declaration, but failure to do so shall not impair the effect of such declaration. SECTION 11.

Appears in 2 contracts

Samples: Revolving Credit Agreement (AerCap Holdings N.V.), Revolving Credit Agreement (AerCap Holdings N.V.)

Effect of Event of Default. If any Event of Default described in Section 11.1.3 8.01(e) shall occur, the Commitments (if they have not theretofore terminated) shall immediately terminate Loans and the Note and all Loans and all interest and other amounts due hereunder Obligations shall become immediately due and payablepayable and the Commitments shall be terminated, all without presentment, demand or notice of any kind; and, in the case of any other Event of Default, the Administrative Agent may, and upon the written request of the Required Banks Lenders shall, declare terminate the Commitments (if they have not theretofore terminated) to be terminated hereunder and declare all or any portion of the Loans and all interest or such portion of the Note and all other amounts due hereunder Obligations to be due and payable, whereupon the Commitments (if they have not theretofore terminated) Commitment shall immediately terminate and all or such portion of the Loans and all interest or such portion of the Note and all other amounts due hereunder Obligations shall become immediately due and payable, all without presentment, demand or further notice of any kind. The Administrative Agent shall promptly advise the Company and each Bank Borrower of any such declaration, declaration but failure to do so shall not impair the effect of such declaration. Notwithstanding the foregoing, the effect as an Event of Default of any event described in Section 8.01(a) may not be waived except by consent of all of the Lenders in writing.

Appears in 2 contracts

Samples: Credit Agreement (Horace Mann Educators Corp /De/), Credit Agreement (Horace Mann Educators Corp /De/)

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Effect of Event of Default. If any Event of Default -------------------------- described in Section 11.1.3 shall occur, the Commitments (if they have not -------------- theretofore terminated) shall immediately terminate and all Loans and all interest and other amounts due hereunder shall become immediately due and payable, all without presentment, demand or notice of any kind; and, in the case of any other Event of Default, the Agent may, and upon written request of the Required Banks shall, declare the Commitments (if they have not theretofore terminated) to be terminated and all Loans and all interest and other amounts due hereunder to be due and payable, whereupon the Commitments (if they have not theretofore terminated) shall immediately terminate and all Loans and all interest and other amounts due hereunder shall become immediately due and payable, all without presentment, demand or notice of any kind. The Agent shall promptly advise the Company and each Bank of any such declaration, but failure to do so shall not impair the effect of such declaration.

Appears in 2 contracts

Samples: Assignment and Assumption Agreement (International Lease Finance Corp), Assignment and Assumption Agreement (International Lease Finance Corp)

Effect of Event of Default. If any Event of Default described in Section 11.1.3 10.1.3 shall occur, the Commitments (if they have not theretofore terminated) shall immediately terminate and all Committed Loans and all interest and other amounts due hereunder shall become immediately due and payable, all without presentment, demand or notice of any kind; and, in the case of any other Event of Default, the Agent may, and upon written request of the Required Banks Lenders shall, declare the Commitments (if they have not theretofore terminated) to be terminated and all Committed Loans and all interest and other amounts due hereunder to be due and payable, whereupon the Commitments (if they have not theretofore terminated) shall immediately terminate and all Committed Loans and all interest and Credit Agreement other amounts due hereunder shall become immediately due and payable, all without presentment, demand or notice of any kind. The Agent shall promptly advise the Company and each Bank Lender of any such declaration, but failure to do so shall not impair the effect of such declaration.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (American International Group Inc)

Effect of Event of Default. If any Event of Default described in Section 11.1.3 shall occur, the Commitments (if they have not theretofore terminated) shall immediately terminate and all Loans and all interest and other amounts due hereunder shall become immediately due and payable, all without presentment, demand or notice of any kind; and, in the case of any other Event of Default, the Agent may, and upon written request of the Required Banks shall, declare the Commitments (if they have not theretofore terminated) to be terminated and all Loans and all interest and other amounts due hereunder to be due and payable, whereupon the Commitments (if they have not theretofore terminated) shall immediately terminate and all Loans and all interest and other amounts due hereunder shall become 180-Day Credit Agreement immediately due and payable, all without presentment, demand or notice of any kind. The Agent shall promptly advise the Company and each Bank of any such declaration, but failure to do so shall not impair the effect of such declaration.

Appears in 1 contract

Samples: 180 Day Revolving Credit Agreement (International Lease Finance Corp)

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