Common use of Non-Bankruptcy Defaults Clause in Contracts

Non-Bankruptcy Defaults. When any Event of Default other than those described in subsection (j) or (k) of Section 7.01 hereof has occurred and is continuing at any time after the Closing Date, the Administrative Agent shall, by written notice to the Borrower, if so directed by the Required Lenders, declare the principal of and the accrued interest on all outstanding Loans to be forthwith due and payable and thereupon all outstanding Loans, including both principal and interest thereon, shall be and become immediately due and payable together with all other amounts payable under the Loan Documents without further demand, presentment, protest or notice of any kind. The Administrative Agent, after giving notice to the Borrower pursuant to Section 7.01(c) or this Section 7.02, shall also promptly send a copy of such notice to the other Lenders, but the failure to do so shall not impair or annul the effect of such notice.

Appears in 3 contracts

Samples: Amendment Agreement (Cliffs Natural Resources Inc.), Assignment and Assumption (Cliffs Natural Resources Inc.), Assignment and Assumption (Cliffs Natural Resources Inc.)

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Non-Bankruptcy Defaults. When any Event of Default other than those described in subsection subsections (jf) or (kg) of Section 7.01 8.1 hereof has occurred and is continuing at any time after the Closing Datecontinuing, the Administrative Agent shall, by written notice to the Borrower, if so directed by the Required LendersBanks, by written notice to Borrower: declare the principal of and the accrued interest on all outstanding Loans Notes to be forthwith due and payable and thereupon all outstanding LoansNotes, including both principal and interest thereon, and all other Obligations, shall be and become immediately due and payable together with all other amounts payable under the Loan Credit Documents without further demand, presentment, protest or notice of any kind. The Administrative Agent, after giving notice to the Borrower pursuant to Section 7.01(c8.1(c) or this Section 7.028.2, shall also promptly send a copy of such notice to the other LendersBanks, but the failure to do so shall not impair or annul the effect of such notice.

Appears in 1 contract

Samples: Term Credit Agreement (Black Hills Corp /Sd/)

Non-Bankruptcy Defaults. When any Event of Default other than those described in subsection subsections (jf) or (kg) of Section 7.01 8.1 hereof has occurred and is continuing at any time after the Closing Datecontinuing, the Administrative Agent shall, by written notice to the Borrower, if so directed by the Required LendersBanks, by written notice to Borrower: declare the principal of and the accrued Section 1.5 interest on all outstanding the Loans to be forthwith due and payable and thereupon all outstanding Loans, including both principal and interest thereon, and all other Obligations, shall be and become immediately due and payable together with all other amounts payable under the Loan Credit Documents without further demand, presentment, protest or notice of any kind. The Administrative Agent, after giving notice to the Borrower pursuant to Section 7.01(c8.1(c) or this Section 7.028.2, shall also promptly send a copy of such notice to the other LendersBanks, but the failure to do so shall not impair or annul the effect of such notice.

Appears in 1 contract

Samples: Credit Agreement (Black Hills Corp /Sd/)

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Non-Bankruptcy Defaults. When any Event of Default other than those described in subsection subsections (jf) or (kg) of Section 7.01 8.1 hereof has occurred and is continuing at any time after the Closing Datecontinuing, the Administrative Agent shall, by written notice to the Borrower, if so directed by the Required LendersBanks, by written notice to Borrower: declare the principal of and the accrued interest on all outstanding the Loans to be forthwith due and payable and thereupon all outstanding Loans, including both principal and interest thereon, and all other Obligations, shall be and become immediately due and payable together with all other amounts payable under the Loan Credit Documents without further demand, presentment, protest or notice of any kind. The Administrative Agent, after giving notice to the Borrower pursuant to Section 7.01(c8.1(c) or this Section 7.028.2, shall also promptly send a copy of such notice to the other LendersBanks, but the failure to do so shall not impair or annul the effect of such notice.

Appears in 1 contract

Samples: Credit Agreement (Black Hills Corp /Sd/)

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