Common use of Events of Default Other Than Bankruptcy, Insolvency or Reorganization Proceedings Clause in Contracts

Events of Default Other Than Bankruptcy, Insolvency or Reorganization Proceedings. If an Event of Default specified under Sections 8.1.1 through 8.1.13 shall occur and be continuing, the Banks and the Agent shall be under no further obligation to make Loans, and the Agent may, and upon the request of a majority of the Banks shall, by written notice to the Borrower, declare the entire unpaid principal balance of the Notes then outstanding and all interest accrued thereon, any unpaid fees and all other Indebtedness of the Borrower to the Banks hereunder and thereunder to be forthwith due and payable, and the same shall thereupon become and be immediately due and payable to the Agent for the benefit of each Bank without presentment, demand, protest or any other notice of any kind, all of which are hereby expressly waived.

Appears in 1 contract

Samples: Credit Agreement (Integrated Alarm Services Group Inc)

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Events of Default Other Than Bankruptcy, Insolvency or Reorganization Proceedings. If an Event of Default specified under Sections 8.1.1 through 8.1.13 shall occur and be continuing, the Banks and the Administrative Agent shall be under no further (i) terminate the Commitments and thereupon the Commitments shall be terminated and of no further obligation to make Loansforce and effect, and (ii) declare the Agent may, and upon the request of a majority unpaid principal amount of the Banks shall, by written notice to the Borrower, declare the entire unpaid principal balance of the Notes Term Loans then outstanding and all interest accrued thereon, any unpaid fees and all other Indebtedness of the Borrower to the Banks hereunder and thereunder to be forthwith due and payable, and the same shall thereupon become and be immediately due and payable to the Administrative Agent for the benefit of each Bank without presentment, demand, protest or any other notice of any kind, all of which are hereby expressly waived.; and

Appears in 1 contract

Samples: Term Loan Credit Agreement (Arch Coal Inc)

Events of Default Other Than Bankruptcy, Insolvency or Reorganization Proceedings. If an Event of Default specified under Sections 8.1.1 subsections 6.1.1 through 8.1.13 6.1.13 of Section 6.1 shall occur and be continuing, the Banks and the Administrative Agent shall be under no further obligation to make Loans, and the Administrative Agent may, and upon the request of a majority of the Banks shallRequired Banks, shall by written notice to the Borrower, declare the entire unpaid principal balance amount of the Notes then outstanding and all interest accrued thereon, any unpaid fees and all other Indebtedness of the Borrower to the Banks hereunder and thereunder to be forthwith due and payable, and the same shall thereupon become and be immediately due and payable to the Administrative Agent for the benefit of each Bank without presentment, demand, protest or any other notice of any kind, all of which are hereby expressly waived.

Appears in 1 contract

Samples: Credit Agreement (Triumph Group Inc)

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Events of Default Other Than Bankruptcy, Insolvency or Reorganization Proceedings. If an Event of Default specified under Sections 8.1.1 through 8.1.13 shall occur and be continuing, the Banks and the Agent shall be under no further obligation to make Loans, Loans and the Agent may, and upon the request of a majority of the Required Banks shall, by written notice to the Borrower, declare the entire unpaid principal balance amount of the Notes then outstanding and all interest accrued thereon, any unpaid fees and all other Indebtedness of the Borrower to the Banks hereunder and thereunder to be forthwith due and payable, and the same shall thereupon become and be immediately due and payable to the Agent for the benefit of each Bank without presentment, demand, protest or any other notice of any kind, all of which are hereby expressly waived.; and

Appears in 1 contract

Samples: Credit Agreement (Party City Corp)

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