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

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), the Lender shall have the right to declare the principal of the Loans 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 and, if applicable, Borrower shall no longer be permitted to obtain any additional Loans. (b) Upon the occurrence and continuation of one or more Events of Default under Section 6.1(d) or 6.1(e) hereof, the Lender’s commitments and other obligations hereunder shall be cancelled immediately, automatically and without notice, and the Loans shall become immediately due and payable without presentation, demand or notice of any kind to Borrower.

Effects of an Event of Default. (a) Upon the occurrence and continuation happening of one or more Events of Default (except a default under either Section 6.1(d7.1(d) or 6.1(e7.1(e) hereof), the Lender shall may declare any obligations it or any Lender Affiliate may have the right hereunder to declare be canceled and the principal of the Loans 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 and, if applicable, Borrower shall no longer be permitted to obtain advances of any additional Loans. (b) Upon the occurrence and continuation happening of one or more Events of Default under Section 6.1(d7.1(d) or 6.1(e7.1(e) hereof, the Lender’s commitments and other Lender Affiliates’ obligations hereunder shall be cancelled immediately, automatically and without notice, and the Loans then outstanding shall become immediately due and payable without presentation, demand or notice of any kind to Borrower.

Effects of an Event of Default. (a) a. Upon the occurrence and continuation happening of one or more Events of Default (except a default under either Section 6.1(d7.1(j) or 6.1(e7.1(k) hereof), the Lender shall may declare any obligations it may have the right hereunder to declare be canceled and the principal of the Loans then outstanding to be immediately due and payable, together with all interest thereon and fees and expenses accruing under this Agreement Agreement. Upon such declaration, any obligations Lender may have hereunder shall be immediately canceled and Loans then outstanding shall become immediately due and payable without presentation, demand or further notice of any kind to Borrower and, if applicable, Borrower shall no longer be permitted to obtain any additional LoansBorrower. (b) b. Upon the occurrence and continuation happening of one or more Events of Default under Section 6.1(d7.1(j) or 6.1(e7.1(k) hereof, the Lender’s commitments and other 's obligations hereunder shall be cancelled canceled immediately, automatically and without notice, and the Loans then outstanding shall become immediately due and payable without presentation, presentation demand or notice of any kind to Borrower.