Common use of HOLDCO AGREEMENT BREACH Clause in Contracts

HOLDCO AGREEMENT BREACH. A “Default” (as defined in the Holdco Agreement) shall occur under the Holdco Agreement. If any of the foregoing Events of Default shall have occurred and be continuing, Administrative Agent, at the written direction of the Required Lenders, shall take one or more of the following actions: (i) by written or oral or telephonic notice (in the case of oral or telephonic notice confirmed in writing immediately thereafter) to Borrower declare all sums then owing by Borrower hereunder and under the Loan Documents to be forthwith due and payable, whereupon all such sums shall become and be immediately due and payable without presentment, demand, protest or notice of any kind, all of which are hereby expressly waived by Borrower, (ii) enforce, as Administrative Agent (to the extent permitted under the applicable Loan Documents) or direct the Collateral Agent to enforce, pursuant to the terms of the applicable Security Document, all of the Liens and security interests created pursuant to the Security Documents. In cases of any occurrence of any Event of Default described in clause (e) or (f) of this Section 10.1, the Loans, together with accrued interest thereon, shall become due and payable forthwith without the requirement of any such acceleration or request, and without presentment, demand, protest or other notice of any kind, all of which are expressly waived by Borrower, any provision of this Agreement or any other Loan Document to the contrary notwithstanding, and other amounts payable by Borrower hereunder shall also become immediately due and payable all without notice of any kind. Anything in this Section 10.1 to the contrary notwithstanding, Administrative Agent shall, at the request of the Required Lenders, rescind and annul any acceleration of the Loans by written instrument filed with Borrower; provided that at the time such acceleration is so rescinded and annulled: (A) all past due interest and principal (other than principal due solely as a result of such acceleration), if any, on the Loans and all other sums payable under this Agreement and the other Loan Documents shall have been duly paid, and (B) no other Event of Default shall have occurred and be continuing which shall not have been waived in accordance with the provisions of Section 12.1 hereof.

HOLDCO AGREEMENT BREACH. A “Default” (as defined in the Holdco Agreement) shall occur under the Holdco Agreement. If any of the foregoing Events of Default shall have occurred and be continuing, Administrative Agent, at the written direction of the Required LendersLenders (administered as if the Commitments have been terminated in full) shall, shall take one or more of the following actions: (i) by written or oral or telephonic notice (in the case of oral or telephonic notice confirmed in writing immediately thereafter) to Borrower the Funds Administrator declare the Commitments to be terminated whereupon the Commitments shall forthwith terminate, (ii) by written or oral or telephonic notice (in the case of oral or telephonic notice confirmed in writing immediately thereafter) to the Funds Administrator declare all sums then owing by Borrower the Borrowers hereunder and under the Loan Documents to be forthwith due and payable, whereupon all such sums shall become and be immediately due and payable without presentment, demand, protest or notice of any kind, all of which are hereby expressly waived by Borrowerthe Borrowers, (iiiii) terminate any Letter of Credit which may be terminated in accordance with its terms, (iv) direct the Borrowers to pay (and the Borrowers agree that upon receipt of such notice, or upon the occurrence of any Event of Default specified in Section 10.1(e) or Section 10.1(f) with respect to the Borrowers they will pay) to Administrative Agent at the Payment Office such additional amount of cash, to be held as security by Administrative Agent, as is equal to 105% of the aggregate Stated Amount of all Letters of Credit issued for the account of the Borrowers and its subsidiaries and then outstanding and (v) enforce, as Administrative Agent (to the extent permitted under the applicable Loan Documents) ), or direct the Collateral Agent to enforce, pursuant to the terms of the applicable Security DocumentAgreement, all any of the Liens liens and security interests created pursuant to the Security Documents. In cases of any occurrence of any Event of Default described in clause (e) or (f) of this Section 10.1, the Commitments shall terminate and the Loans, together with accrued interest thereon, shall become due and payable forthwith without the requirement of any such acceleration or request, and without presentment, demand, protest or other notice of any kind, all of which are expressly waived by Borrowerthe Borrowers, any provision of this Agreement or any other Loan Document to the contrary notwithstanding, and other amounts payable by Borrower the Borrowers hereunder shall also become immediately due and payable all without notice of any kind. Anything in this Section 10.1 to the contrary notwithstanding, Administrative Agent shall, at the request of the Required Lenders, rescind and annul any acceleration of the Loans and termination of the Commitments by written instrument filed with Borrowerthe Funds Administrator; provided that at the time such acceleration is so rescinded and annulled: (A) all past due interest and principal (other than principal due solely as a result of such acceleration), if any, on the Loans and all other sums payable under this Agreement and the other Loan Documents shall have been duly paid, and (B) no other Event of Default shall have occurred and be continuing which shall not have been waived in accordance with the provisions of Section 12.1 13.1 hereof. Upon any such rescission and annulment, Administrative Agent shall return to the Borrowers any cash collateral delivered pursuant to the preceding paragraph.

HOLDCO AGREEMENT BREACH. A “"Default” " (as defined in the Holdco Agreement) shall occur under the Holdco Agreement. If any of the foregoing Events of Default shall have occurred and be continuing, Administrative Agent, at the written direction of the Required LendersLenders (administered as if the Commitments have been terminated in full) shall, shall take one or more of the following actions: (i) by written or oral or telephonic notice (in the case of oral or telephonic notice confirmed in writing immediately thereafter) to Borrower the Funds Administrator declare the Commitments to be terminated whereupon the Commitments shall forthwith terminate, (ii) by written or oral or telephonic notice (in the case of oral or telephonic notice confirmed in writing immediately thereafter) to the Funds Administrator declare all sums then owing by Borrower the Borrowers hereunder and under the Loan Documents to be forthwith due and payable, whereupon all such sums shall become and be immediately due and payable without presentment, demand, protest or notice of any kind, all of which are hereby expressly waived by Borrowerthe Borrowers, (iiiii) terminate any Letter of Credit which may be terminated in accordance with its terms, (iv) direct the Borrowers to pay (and the Borrowers agree that upon receipt of such notice, or upon the occurrence of any Event of Default specified in SECTION 10.1(e) or SECTION 10.1(f) with respect to the Borrowers they will pay) to Administrative Agent at the Payment Office such additional amount of cash, to be held as security by Administrative Agent, as is equal to 105% of the aggregate Stated Amount of all Letters of Credit issued for the account of the Borrowers and its subsidiaries and then outstanding and (v) enforce, as Administrative Agent (to the extent permitted under the applicable Loan Documents) ), or direct the Collateral Agent to enforce, pursuant to the terms of the applicable Security DocumentAgreement, all any of the Liens liens and security interests created pursuant to the Security Documents. In cases of any occurrence of any Event of Default described in clause CLAUSE (e) or (f) of this Section SECTION 10.1, the Commitments shall terminate and the Loans, together with accrued interest thereon, shall become due and payable forthwith without the requirement of any such acceleration or request, and without presentment, demand, protest or other notice of any kind, all of which are expressly waived by Borrowerthe Borrowers, any provision of this Agreement or any other Loan Document to the contrary notwithstanding, and other amounts payable by Borrower the Borrowers hereunder shall also become immediately due and payable all without notice of any kind. 118 Anything in this Section SECTION 10.1 to the contrary notwithstanding, Administrative Agent shall, at the request of the Required Lenders, rescind and annul any acceleration of the Loans and termination of the Commitments by written instrument filed with Borrowerthe Funds Administrator; provided PROVIDED that at the time such acceleration is so rescinded and annulled: (A) all past due interest and principal (other than principal due solely as a result of such acceleration), if any, on the Loans and all other sums payable under this Agreement and the other Loan Documents shall have been duly paid, and (B) no other Event of Default shall have occurred and be continuing which shall not have been waived in accordance with the provisions of Section 12.1 SECTION 13.1 hereof. Upon any such rescission and annulment, Administrative Agent shall return to the Borrowers any cash collateral delivered pursuant to the preceding paragraph.

HOLDCO AGREEMENT BREACH. A “"Default” " (as defined in the Holdco Agreement) shall occur under the Holdco Agreement. If any of the foregoing Events of Default shall have occurred and be continuing, Administrative Agent, at the written direction of the Required Lenders, shall take one or more of the following actions: (i) by written or oral or telephonic notice (in the case of oral or telephonic notice confirmed in writing immediately thereafter) to Borrower declare all sums then owing by Borrower hereunder and under the Loan Documents to be forthwith due and payable, whereupon all such sums shall become and be immediately due and payable without presentment, demand, protest or notice of any kind, all of which are hereby expressly waived by Borrower, (ii) enforce, as Administrative Agent (to the extent permitted under the applicable Loan Documents) or direct the Collateral Agent to enforce, pursuant to the terms of the applicable Security Document, all of the Liens and security interests created pursuant to the Security Documents. In cases of any occurrence of any Event of Default described in clause (e) or (f) of this Section SECTION 10.1, the Loans, together with accrued interest thereon, shall become due and payable forthwith without the requirement of any such acceleration or request, and without presentment, demand, protest or other notice of any kind, all of which are expressly waived by Borrower, any provision of this Agreement or any other Loan Document to the contrary notwithstanding, and other amounts payable by Borrower hereunder shall also become immediately due and payable all without notice of any kind. Anything in this Section SECTION 10.1 to the contrary notwithstanding, Administrative Agent shall, at the request of the Required Lenders, rescind and annul any acceleration of the Loans by written instrument filed with Borrower; provided that at the time such acceleration is so rescinded and annulled: (A) all past due interest and principal (other than principal due solely as a result of such acceleration), if any, on the Loans and all other sums payable under this Agreement and the other Loan Documents shall have been duly paid, and (B) no other Event of Default shall have occurred and be continuing which shall not have been waived in accordance with the provisions of Section SECTION 12.1 hereof.