Effects of an Event of Default. (a) Upon the happening of one or more Events of Default (except a default with respect to the Borrower or any Subsidiary under either Section 7.1(d) or 7.1(e) hereof), the Agent may, and shall at the request of the Required Lenders, by notice to the Borrower declare any commitments of the Lenders to lend money to the Borrower or issue Letters of Credit hereunder (individually, the “Lender’s Obligations”, and collectively, the “Lenders’ Obligations”) to be cancelled and the principal of the Notes then outstanding and all reimbursement, Cash Collateralization and other obligations of the Borrower (other than under any Designated Hedge Agreement) to be immediately payable and any Letters of Credit outstanding to be terminated (to the extent each such Letter of Credit is terminable in accordance with its terms), together with all interest thereon and fees and expenses accruing under this Agreement and under any Loan Document. Upon such declaration, the Lenders’ Obligations shall be immediately canceled and the Notes shall become immediately due and payable without presentation, demand or further notice of any kind to the Borrower.
Effects of an Event of Default. (a) Upon the happening of one or more Events of Default (except an Event of Default under either Section 11.1(e) or 11.1(f)), Secured Party may declare any obligations it may have hereunder to be cancelled, and the principal of the Indebtedness then outstanding to be immediately due and payable, together with all interest thereon and costs and expenses accruing under the Transaction Documents. Upon such declaration, any obligations Secured Party may have hereunder shall be immediately cancelled, and the Indebtedness then outstanding shall become immediately due and payable without presentation, demand, or further notice of any kind to Debtor.
Effects of an Event of Default. (a) Upon the occurrence and continuation of one or more Events of Default (except a default under either Section 6.1(d) or 6.1(e) hereof), Lender shall have the right to declare the principal of the Loan then outstanding to be immediately due and payable, together with all interest thereon and fees and expenses accruing under this Agreement without presentation, demand or further notice of any kind to Borrower or any Subsidiary and, if applicable, Borrower shall no longer be permitted to obtain the Additional Advance.
Effects of an Event of Default. (a) Upon the happening of one or more Events of Default (except an Event of Default under either Section 10.1(e) or 10.1(f)), the Agent may or, upon the request of the Required Lenders, shall (i) declare any commitments or other obligations they may have hereunder to be cancelled, and all Indebtedness then outstanding to be immediately due and payable, together with all interest thereon and costs and expenses accruing under the Transaction Documents and (ii) exercise any one or more other rights or remedies available under the Transaction Documents or applicable law. Upon such declaration, any commitments or other obligations Lenders may have hereunder shall be immediately cancelled, and the Indebtedness then outstanding shall become immediately due and payable without presentation, demand, or further notice of any kind to Borrowers.
Effects of an Event of Default. (a) Notwithstanding any other provision of this Agreement, upon and following the occurrence of one or more Events of Default (except an Event of Default under either Section 12.1(e) or 12.1(f)), the Agent (a) may, and upon direction of the Requisite Lenders shall, by (and immediately upon) notice to the Borrower: (i) declare the Commitments and the obligation of the Lenders to make any Advances and of the L/C Issuer to issue Letters of Credit to be terminated; or (ii) declare that all Advances and Letters of Credit shall be thereafter in Agent’s or Requisite Lenders’ sole discretion, (b) may, and upon direction of the Requisite Lenders shall, by (and immediately upon) notice to the Borrower, declare all Indebtedness, including, without limitation, all interest thereon and costs and expenses of the Agent and the Lenders and all other amounts payable under any Loan Document to be forthwith due and payable, whereupon such Indebtedness shall become and be forthwith due and payable, without presentment, demand, protest or further notice of any kind, all of which are expressly waived by the Borrower and Agent may require Debtor to deliver cash collateral for all exposure (including, without limitation, all accrued and accruing interest, fees, expenses and commissions) relating to outstanding Letters of Credit.
Effects of an Event of Default. Upon the happening of one or more Events of Default:
Effects of an Event of Default. (a) Upon the happening of one or more Events of Default (except a default with respect to the Borrower under either Section 7.1(d) or 7.1(e) hereof), the Administrative Agent, shall upon the written direction of the Majority Banks and by notice to the Borrower declare the principal of the Revolving Note then outstanding to be immediately due and payable, together with all interest thereon and fees and expenses accruing under this Agreement and/or declare the Commitments of the Banks to be canceled. Upon any acceleration of the principal of the Revolving Note, the then outstanding balance shall become immediately due and payable without presentation, demand or further notice of any kind to the Borrower. Upon any cancellation of the Commitments set forth in this Agreement, any obligations the Banks may have to make Advances or to issue Letters of Credit shall be immediately canceled.
Effects of an Event of Default. (a) Upon the happening of one or more Events of Default (except a default with respect to the Company under either Section 7.1(d) or 7.1(e) hereof), HSBC Bank may by notice to the Company require the principal of the Note then outstanding to be immediately payable, together with all interest thereon and fees and expenses accruing under this Agreement. Upon such declaration, any obligations HSBC Bank may have to the Company hereunder shall be immediately canceled and the Note shall become immediately due and payable without presentation, demand or further notice of any kind to the Company.
Effects of an Event of Default. 12. SECURED PARTY'S RIGHTS AND REMEDIES......................... 12.1. GENERALLY...................................... 12.2.
Effects of an Event of Default. (a) Upon the happening of one or more Events of Default (except a default with respect to the Borrower or any Subsidiary under either Section 7.1(d) or 7.1(e) hereof), the Agent may by notice to the Borrower require the principal of the Notes then outstanding to be immediately payable, together with all interest thereon and fees and expenses accruing under this Agreement. Upon such declaration, any obligations the Agent and the Lenders may have to the Borrower hereunder shall be immediately canceled and the Notes shall become immediately due and payable without presentation, demand or further notice of any kind to the Borrower.
