Common use of Effects of an Event of Default Clause in Contracts

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 a default with respect to the Borrower or any Subsidiary under either Section 7.1(d8.1(d) or 7.1(e8.1(e) hereofof this Agreement), the Administrative Agent may, and may declare or shall at the request of do so if instructed by 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 canceled and the principal of the such Lender’s Note or Notes then outstanding outstanding, and all reimbursement, Cash Collateralization cash collateralization and other obligations of the Borrower (other than under any Designated Hedge Agreement) to be immediately due and payable and any Letters of Credit outstanding to be terminated (to the extent each such Letter of Credit is terminable in accordance with its their 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 Loans evidenced by each Lender’s Note or 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 a default with respect to the Borrower or any Subsidiary under either Section 7.1(d8.1(d) or 7.1(e8.1(e) hereofof this Agreement), the Administrative Agent may, and may declare or shall at the request of do so if instructed by the Required Lenders, by notice to the Borrower declare any commitments of the Lenders to lend money to the Borrower Borrowers or issue Letters of Credit hereunder (individually, the “Lender’s Obligations”, ” and collectively, the “Lenders’ Obligations”) to be cancelled canceled and the principal of the such Lender’s Note or Notes then outstanding outstanding, and all reimbursement, Cash Collateralization cash collateralization and other obligations of the Borrower Borrowers (other than under any Designated Hedge Agreement) to be immediately due and payable and any Letters of Credit outstanding to be terminated (to the extent each such Letter of Credit is terminable in accordance with its their 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 Loans evidenced by each Lender’s Note or Notes shall become immediately due and payable without presentation, demand or further notice of any kind to the BorrowerBorrowers.

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(d8.1(d) or 7.1(e8.1(e) hereofof this Agreement), the Administrative Agent may, and may declare or shall at the request of do so if instructed by the Required Lenders, by notice to the Borrower declare any commitments of the Lenders to lend money to the Borrower Borrowers or issue Letters of Credit hereunder (individually, the “Lender’s Obligations”, ” and collectively, the “Lenders’ Obligations”) to be cancelled canceled and the principal of the such Lender’s Note or Notes then outstanding outstanding, and all reimbursement, Cash Collateralization cash collateralization Obligations under Section 2.4(k) of this Agreement and other obligations of the Borrower Borrowers (other than under any Designated Hedge Agreement) to be immediately due and payable and any Letters of Credit outstanding to be terminated (to the extent each such Letter of Credit is terminable in accordance with its their 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 Loans evidenced by each Lender’s Note or Notes shall become immediately due and payable without presentation, demand or further notice of any kind to the BorrowerBorrowers.

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 any Loan Party 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 Representative declare any commitments of the Lenders to lend money to the Borrower Borrowers 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 Loans then outstanding and all reimbursement, Cash Collateralization and other obligations of the Borrower Borrowers (other than under any Designated Hedge Agreement) to be immediately due and 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 Loans and all other amounts payable under this Agreement and the other Loan Documents shall become immediately due and payable without presentation, demand or further notice of any kind to the BorrowerBorrowers.

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 any Loan Party 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 Representative declare any commitments of the Lenders to lend money to the Borrower Borrowers 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 Loans then outstanding and all reimbursement, Cash Collateralization and other obligations of the Borrower Borrowers (other than under any Designated Hedge Agreement) to be immediately due and 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 Loans and all other amounts payable under this Agreement and the other Loan Documents shall become immediately due and payable without presentation, demand or further notice of any kind to the BorrowerBorrowers.