Common use of EVENTS OF ACCELERATION Clause in Contracts

EVENTS OF ACCELERATION. If any of the following events shall occur and shall continue for the period specified below, if any, then at any subsequent time during the continuance thereof, the Trustee, at its option, may, by notice to the Borrower, declare the principal of the Credit then outstanding to be due and payable immediately together with the service charges thereon and upon any such declaration such principal, together with such charges, shall become due and payable immediately: (a) A default shall occur in the payment of principal or any other payment required under the Trust Fund Credit Agreement and such default shall continue for a period of thirty days. (b) A default shall occur in the payment by the Borrower of principal or interest or any other amount due to the Trustee, the Association or the Bank. (c) A default shall occur in the performance of any other substantial obligation on the part of the Borrower under the Trust Fund Credit Agreement, and such default shall continue for a period of sixty days after notice thereof shall have been given by the Trustee to the Borrower. (d) Any other event specified in the Trust Fund Credit Agreement for the purposes of this Section shall have occurred and shall continue for the period, if any, specified in the Trust Fund Credit Agreement.

EVENTS OF ACCELERATION. If any of the following events shall occur and shall continue for the period specified below, if any, then at any subsequent time during the continuance thereof, the TrusteeAdministrator, at its option, may, by notice to the Borrower, declare the principal of the Credit then outstanding to be due and payable immediately together with the service charges thereon and upon any such declaration such principal, together with such charges, shall become due and payable immediately: (a) A default shall occur in the payment of principal or any other payment required under the this Trust Fund Credit Agreement and such default shall continue for a period of thirty days. (b) A default shall occur in the payment by the Borrower of principal or interest or any other amount due to the Trustee, the Association Administrator or the Bank. (c) A default shall occur in the performance of any other substantial obligation on the part of the Borrower under the this Trust Fund Credit Agreement, and such default shall continue for a period of sixty days after notice thereof shall have been given by the Trustee Administrator to the Borrower. (d) Any other event specified in the this Trust Fund Credit Agreement for the purposes of this Section shall have occurred and shall continue for the period, if any, specified in the this Trust Fund Credit Agreement.

EVENTS OF ACCELERATION. If any of the following events shall occur and shall continue for the period specified below, if any, then at any subsequent time during the continuance thereof, the Trustee, at its option, may, by notice to the Borrower, declare the principal of the Credit then outstanding to be due and payable immediately together with the service charges thereon and upon any such declaration such principal, together with such charges, shall become due and payable immediately: (a) A default shall occur in the payment of principal or any other payment required under the Trust Fund Credit Agreement and such default shall continue for a period of thirty days. (b) A default shall occur in the payment by the Borrower of principal or interest or any other amount due to the Trustee, the Association or the Bank. (c) A default shall occur in the performance of any other substantial obligation on the part of the Borrower under the Trust Fund Credit Agreement, and such default shall continue for a period of sixty days after notice thereof shall have been given by the Trustee to the Borrower. (d) Any other event specified in the Trust Fund Credit Agreement for the purposes of this Section shall have occurred and shall continue for the period, if any, specified in the Trust Fund Credit Agreement.

EVENTS OF ACCELERATION. If any of the following events shall occur and shall continue for the period specified below, if any, then at any subsequent time during the continuance thereof, the Trustee, at its option, may, by notice to the Borrower, declare the principal of the Credit then outstanding to be due and payable immediately together with the service charges thereon and upon any such declaration such principal, together with such charges, shall become due and payable immediately: (a) A default shall occur in the payment of principal or any other payment required under the Trust Fund Credit Agreement and such default shall continue for a period of thirty days. (b) A default shall occur in the payment by the Borrower of principal or interest or any other amount due to the Trustee, the Association or the Bank. (c) A default shall occur in the performance of any other substantial obligation on the part of the Borrower under the Trust Fund Credit Agreement, and such default shall continue for a period of sixty days after notice thereof shall have been given by the Trustee to the Borrower. (d) Any other event specified in the Trust Fund Credit Agreement for the purposes of this Section shall have occurred and shall continue for the period, if any, specified in the Trust Fund Credit Agreement.