Common use of Optional Acceleration of Maturity Clause in Contracts

Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to paragraph (f) of Section 8.01 with respect to the Borrower or the Parent) shall have occurred and be continuing, then, and in any such event, (a) the Administrative Agent (i) shall at the request, or may with the consent, of the Required Lenders, by notice to the Borrower, declare the obligation of each Bank to make Advances to be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or may with the consent, of the Required Lenders, by notice to the Borrower, declare the Notes, all interest thereon and all other amounts payable under this Agreement to be forthwith due and payable, whereupon the Notes, all such interest and all such amounts shall become and be forthwith due and payable in full, without presentment, demand, protest or further notice of any kind (including, without limitation, any notice of intent to accelerate or notice of acceleration), all of which are hereby expressly waived by the Borrower, (b) [Reserved], and (c) the Administrative Agent shall at the request of, or may with the consent of, the Required Lenders proceed to enforce its rights and remedies under the Credit Documents for the ratable benefit of the Banks by appropriate proceedings.

Appears in 6 contracts

Samples: Senior Unsecured Term Loan Agreement (LaSalle Hotel Properties), Senior Unsecured Term Loan Agreement (LaSalle Hotel Properties), Senior Unsecured Term Loan Agreement (LaSalle Hotel Properties)

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Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to paragraph (fe) of Section 8.01 with respect to the Borrower or the Parent7.01) shall have occurred and be continuing, then, and in any such event, (a) the Administrative Agent (i) shall at the request, or may with the consent, of the Required Lenders, by notice to the Borrower, declare the obligation of each Bank Lender to make Advances extensions of credit hereunder, including making Advances, to be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or may with the consent, of the Required Lenders, by notice to the Borrower, declare the Notesall principal, all interest thereon interest, fees, reimbursements, indemnifications, and all other amounts payable under this Agreement Agreement, the Notes, and the other Loan Documents to be forthwith due and payable, whereupon the Notes, all such interest and all such amounts shall become and be forthwith due and payable in full, without presentment, demand, protest or further notice of any kind (including, without limitation, any notice of intent to accelerate or demand, demand, presentment for payment, notice of nonpayment, protest, notice of protest, grace, notice of dishonor, notice of intent to accelerate, notice of acceleration), and all other notices, all of which are hereby expressly waived by the Borrower,; and (b) [Reserved], and (c) the Administrative Agent shall at the request of, or may with the consent of, the Required Lenders proceed to enforce its rights and remedies under the Credit Documents Security Instruments, the Guaranties, and any other Loan Document for the ratable benefit of the Banks Secured Parties by appropriate proceedings.

Appears in 3 contracts

Samples: Borrowing Base Agreement (TXO Partners, L.P.), Credit Agreement (TXO Partners, L.P.), Credit Agreement (MorningStar Partners, L.P.)

Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to paragraph (f) of Section 8.01 with respect to the Borrower or the Parent7.1(f)) shall have occurred and be continuing, then, and in any such event, (a) the Administrative Agent (i) shall at the request, or may with the consent, of the Required Majority Lenders, by notice to the Borrower, declare that the obligation of each Bank Lender, the Swingline Lender and each Issuing Lender to make Advances to Credit Extensions shall be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or may with the consent, of the Required Majority Lenders, by notice to the Borrower, declare the Notesall outstanding Advances, all interest thereon thereon, and all other amounts payable under this Agreement to be forthwith due and payable, whereupon the Notessuch Advances, all such interest interest, and all such amounts shall become and be forthwith due and payable in full, without presentment, demand, protest or further notice of any kind (including, without limitation, any notice of intent to accelerate or notice of acceleration), all of which are hereby expressly waived by the Borrower, (b) [Reserved]the Borrower shall, on demand of the Administrative Agent at the request or with the consent of the Majority Lenders, deposit with the Administrative Agent into the Cash Collateral Account an amount of cash equal to 105% of the outstanding Letter of Credit Exposure as security for the Obligations to the extent the Letter of Credit Obligations are not otherwise paid or cash collateralized at such time, and (c) the Administrative Agent shall at the request of, or may with the consent of, the Required Majority Lenders proceed to enforce its rights and remedies under the Guaranty or any other Credit Documents for the ratable benefit of the Banks Document by appropriate proceedings.

Appears in 2 contracts

Samples: Credit Agreement (Helmerich & Payne Inc), Credit Agreement (Helmerich & Payne Inc)

Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to paragraph (f) of Section 8.01 with respect to the Borrower or the Parent) shall have occurred and be continuing, then, and in any such event, (a) the Administrative Agent (i) shall at the request, or may with the consent, of the Required Majority Lenders, by notice to the Borrower, declare that the obligation of each Bank Lender to make Advances to shall be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or may with the consent, of the Required Majority Lenders, by notice to the Borrower, declare the Notes, all accrued and unpaid interest thereon thereon, and all other amounts payable under this Agreement to be forthwith due and payable, whereupon the Notes, all such interest interest, and all such amounts shall become and be forthwith due and payable in full, without presentment, demand, protest or further notice of any kind (including, without limitation, including any notice of intent to accelerate or notice of acceleration), all of which are hereby expressly waived by each of the Borrower, (b) [Reserved]Credit Parties, and (cb) the Administrative Agent shall at the request of, or may with the consent of, the Required Majority Lenders proceed to enforce its rights and remedies under the Security Documents, the Guaranty, or any other Credit Documents Document for the ratable benefit of the Banks Secured Parties by appropriate proceedings.

Appears in 2 contracts

Samples: Amendment and Restatement Agreement (Hi-Crush Partners LP), Credit Agreement (Hi-Crush Partners LP)

Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to paragraph (fe) of Section 8.01 with respect to the Borrower or the Parent7.01) shall have occurred and be continuing, then, and in any such event,: (a) the Administrative Agent (i) shall at the requestrequest of, or may with the consentconsent of, of the Required Majority Lenders, by notice to the BorrowerCompany, declare the obligation of each Bank Lender to make Advances and the obligation of the Issuing Bank to issue Letters of Credit to be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the requestrequest of, or may with the consentconsent of, of the Required Majority Lenders, by notice to the BorrowerCompany, declare the Notes, all interest thereon thereon, and all other amounts payable under this Agreement to be forthwith due and payable, whereupon the Notes, all such interest interest, and all such amounts shall become and be forthwith due and payable in full, without presentment, demand, protest or further notice of any kind (including, without limitation, any notice of intent to accelerate or notice of acceleration), all of which are hereby expressly waived by the Borrower,; (b) [Reserved]a Borrower shall, on demand of the Administrative Agent at the request or with the consent of the Majority Lenders, deposit with the Administrative Agent into the Cash Collateral Account an amount of cash in Dollars equal to the outstanding Letter of Credit Exposure as security for the Obligations to the extent the Letter of Credit Obligations are not otherwise paid at such time; and (c) the Administrative Agent shall at and the request of, or Lenders may with the consent of, the Required Lenders proceed to enforce its exercise all rights and remedies available under the Credit Security Documents for the ratable benefit of the Banks by appropriate proceedingsand applicable law.

Appears in 2 contracts

Samples: Credit Agreement (Global Industries LTD), Credit Agreement (Global Industries LTD)

Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to paragraph (fe) of Section 8.01 with respect to the Borrower or the Parent7.01) shall have occurred and be continuing, then, and in any such event, (a) the Administrative Agent (i) shall at the request, or may with the consent, of the Required Lenders, by notice to the Borrower, declare the obligation (if any) of each Bank Lender to make extensions of credit hereunder, including making Advances to be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or may with the consent, of the Required Lenders, by notice to the Borrower, declare the Notesall principal, all interest thereon interest, fees, reimbursements, indemnifications, and all other amounts payable under this Agreement Agreement, the Notes, and the other Loan Documents to be forthwith due and payable, whereupon the Notes, all such interest and all such amounts shall become and be forthwith due and payable in full, without presentment, demand, protest or further notice of any kind (including, without limitation, any notice of intent to accelerate or demand, demand, presentment for payment, notice of nonpayment, protest, notice of protest, grace, notice of dishonor, notice of intent to accelerate, notice of acceleration), and all other notices, all of which are hereby expressly waived by the Borrower,; and (b) [Reserved], and (c) the Administrative Agent shall at the request of, or may with the consent of, the Required Lenders proceed to enforce its rights and remedies under the Credit Documents Security Instruments, the Guaranties, and any other Loan Document for the ratable benefit of the Banks Secured Parties by appropriate proceedings.

Appears in 2 contracts

Samples: Subordinated Credit Agreement (Abraxas Energy Partners LP), Subordinated Credit Agreement (Abraxas Petroleum Corp)

Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to paragraph (fe) of Section 8.01 with respect to the Borrower or the Parent7.01) shall have occurred and be continuing, then, and in any such event, (a) the Administrative Agent (i) shall at the request, or may with the consent, of the Required LendersMajority Banks, by notice to the Borrower, declare the obligation of each Bank to make Advances and the obligation of each Issuing Bank to issue, increase, or extend Letters of Credit to be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or may with the consent, of the Required LendersMajority Banks, by notice to the Borrower, declare the Notes, all interest thereon thereon, the Letter of Credit Obligations, and all other amounts payable under this Agreement to be forthwith due and payable, whereupon the Notes, all such interest interest, all such Letter of Credit Obligations and all such amounts shall become and be forthwith due and payable in full, without presentment, demand, protest or further notice of any kind (including, without limitation, any notice of intent to accelerate or notice of acceleration), all of which are hereby expressly waived by the Borrower,, and (b) [Reserved]the Borrower shall, and (c) on demand of the Administrative Agent shall at the request of, or may with the consent ofof the Majority Banks, deposit with the Required Lenders proceed Agent into the Cash Collateral Account an amount of cash equal to enforce its rights and remedies under the Letter of Credit Documents Exposure as security for the ratable benefit Obligations to the extent the Letter of the Banks by appropriate proceedingsCredit Obligations are not otherwise paid at such time.

Appears in 2 contracts

Samples: Credit Agreement (Arkansas Best Corp /De/), Credit Agreement (Arkansas Best Corp /De/)

Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to paragraph (f) of Section 8.01 with respect to the Borrower or the Parent7.01(e)) shall have occurred and be continuing, then, and in any such event,: (a) the Administrative Agent (i) shall shall, at the request, or may may, with the consent, of the Required Majority Lenders, by notice to the Borrower, declare the obligation of each Bank to make Advances to be terminatedall principal, whereupon the same shall forthwith terminateinterest, and (ii) shall at the requestfees, or may with the consentreimbursements, of the Required Lendersindemnifications, by notice to the Borrower, declare the Notes, all interest thereon and all other amounts payable under this Agreement and the other Loan Documents to be forthwith due and payable, whereupon the Notes, all such interest and all such amounts shall become and be forthwith due and payable in full, without presentment, demand, protest or further notice of any kind (including, without limitation, any notice of intent to accelerate or demand, demand, presentment for payment, notice of nonpayment, protest, notice of protest, grace, notice of dishonor, notice of intent to accelerate, notice of acceleration), and all other notices, all of which are hereby expressly waived by the Borrower,; and (b) [Reserved], and (c) the Administrative Agent shall at the request of, or may with the consent of, the Required Majority Lenders proceed to enforce its rights and remedies under the Credit Documents Security Documents, this Agreement, and any other Loan Document for the ratable benefit of the Banks Lenders by appropriate proceedings.

Appears in 2 contracts

Samples: Credit Agreement (Willbros Group, Inc.\NEW\), Credit Agreement (Willbros Group, Inc.\NEW\)

Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to paragraph (f) of Section 8.01 with respect to the Borrower or the Parent7.01(e)) shall have occurred and be continuing, then, and in any such event, (a) the Administrative Agent (i) shall at the request, or may with the consent, of the Required Lenders, by notice to the Borrower, declare the obligation (if any) of each Bank Lender to make extensions of credit hereunder, including making Advances to be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or may with the consent, of the Required Lenders, by notice to the Borrower, declare the Notesall principal, all interest thereon interest, fees, reimbursements, indemnifications, and all other amounts payable under this Agreement Agreement, the Notes, and the other Loan Documents to be forthwith due and payable, whereupon the Notes, all such interest and all such amounts shall become and be forthwith due and payable in full, without presentment, demand, protest or further notice of any kind (including, without limitation, any notice of intent to accelerate or demand, demand, presentment for payment, notice of nonpayment, protest, notice of protest, grace, notice of dishonor, notice of intent to accelerate, notice of acceleration), and all other notices, all of which are hereby expressly waived by the Borrower,; and (b) [Reserved], and (c) the Administrative Agent shall at the request of, or may with the consent of, the Required Lenders proceed to enforce its rights and remedies under the Credit Documents Security Instruments, the Guaranties, and any other Loan Document for the ratable benefit of the Banks Secured Parties by appropriate proceedings.

Appears in 2 contracts

Samples: Second Lien Credit Agreement (Crusader Energy Group Inc.), Subordinated Credit Agreement (Crusader Energy Group Inc.)

Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to paragraph (fe) of Section 8.01 with respect to the Borrower or the Parent7.1) shall have occurred and be continuing, then, and in any such event,: (a) the Administrative Agent (i) shall at the requestrequest of, or may with the consentconsent of, of the Consolidated Required Lenders, by notice to the Borrower, declare the obligation of each Bank Term Lender to make Advances Term Loans to be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the requestrequest of, or may with the consentconsent of, of the Consolidated Required Lenders, by notice to the Borrower, declare the NotesTerm Loans, all interest thereon thereon, and all other amounts payable under this Agreement to be forthwith due and payable, whereupon the NotesTerm Loans, all such interest interest, and all such amounts shall become and be forthwith due and payable in full, without presentment, demand, protest or further notice of any kind (including, without limitation, any notice of intent to accelerate or notice of acceleration), all of which are hereby expressly waived by the Borrower,; and (b) [Reserved], and (c) the Administrative Agent shall at and the request of, or Term Secured Parties may with the consent of, the Required Lenders proceed to enforce its exercise all rights and remedies available under the Credit Security Documents for the ratable benefit of the Banks by appropriate proceedingsand applicable law.

Appears in 1 contract

Samples: Term Loan Agreement (Pride International Inc)

Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to paragraph (fSection 8.01(f) of Section 8.01 with respect to the Borrower or the Parent) shall have occurred and be continuing, then, and in any such event, (a) the Administrative Agent (i) shall at the request, or may with the consent, of the Required Lenders, by notice to the Borrower, declare the obligation of each Bank to make Advances to be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or may with the consent, of the Required Lenders, by notice to the Borrower, declare the Notes, all interest thereon thereon, and all other amounts payable under this Agreement to be forthwith due and payable, whereupon the Notes, all such interest and all such amounts shall become and be forthwith due and payable in full, without presentment, demand, protest or further notice of any kind (including, without limitation, any notice of intent to accelerate or notice of acceleration), all of which are hereby expressly waived by the Borrower, (b) [Reserved], and (c) the Administrative Agent shall at the request of, or may with the consent of, the Required Lenders proceed to enforce its rights and remedies under the Credit Documents for the ratable benefit of the Banks by appropriate proceedings.

Appears in 1 contract

Samples: Senior Unsecured Term Loan Agreement (LaSalle Hotel Properties)

Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to paragraph (f) of Section 8.01 with respect to the Borrower or the Parent7.1(e)) shall have occurred and be continuing, then, and in any such event, (a) the Administrative Agent (i) shall at the request, or may with the consent, of the Required LendersMajority Banks, by notice to the Borrower, declare the obligation of each Bank to make Advances and the obligation of each Issuing Bank to issue, increase or extend Letters of Credit to be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or may with the consent, of the Required LendersMajority Banks, by notice to the Borrower, declare the NotesAdvances, all interest thereon thereon, the Letter of Credit Obligations and all other amounts and Obligations payable under this Agreement or any other Credit Document to be forthwith due and payable, whereupon the NotesAdvances, all such interest interest, all such Letter of Credit Obligations and all such amounts and Obligations shall become and be forthwith due and payable in full, without presentment, demand, protest or further any notice of any kind (including, without limitation, any notice of intent to accelerate or notice of acceleration), all of which are hereby expressly waived by the Borrower,, and (b) [Reserved]the Borrower shall, and (c) on demand of the Administrative Agent shall at the request of, or may with the consent ofof the Majority Banks, deposit with the Required Lenders proceed Agent into the Cash Collateral Account an amount of cash equal to enforce its rights and remedies under the Letter of Credit Documents Exposure as security for the ratable benefit Obligations to the extent the Letter of the Banks by appropriate proceedingsCredit Obligations are not otherwise paid at such time.

Appears in 1 contract

Samples: Credit Agreement (Arkansas Best Corp /De/)

Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to paragraph (f) of Section 8.01 with respect to the Borrower or the Parentany Guarantor) shall have occurred and be continuing, then, and in any such event, (a) the Administrative Agent (i) shall at the request, or may with the consent, of the Required Lenders, by notice to the Borrower, declare the Commitments and any other obligation of each Bank Lender to make Advances an Advance to be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or may with the consent, of the Required Lenders, by notice to the Borrower, declare the Notes, all interest thereon and all other amounts payable under this Agreement Obligations to be forthwith due and payable, whereupon the Notes, all such interest and all such amounts Obligations shall become and be forthwith due and payable in full, without presentment, demand, protest or further notice of any kind (including, without limitation, any notice of intent to accelerate or notice of acceleration), all of which are hereby expressly waived by the Borrower, (b) [Reserved], and (cb) the Administrative Agent shall at the request of, or may with the consent of, the Required Lenders proceed to enforce its rights and remedies under the Credit Documents for the ratable benefit of the Banks Lenders by appropriate proceedings.

Appears in 1 contract

Samples: Senior Secured Term Loan Agreement (Seritage Growth Properties)

Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to paragraph (fe) of Section 8.01 with respect to the Borrower or the Parent7.1) shall have occurred and be continuing, then, and in any such event,: (a) the Administrative Agent (i) shall at the requestrequest of, or may with the consentconsent of, of the Required Lenders, by notice to the Borrower, declare the obligation of each Bank Lender to make Advances Loans and the obligation of the Issuing Lenders to issue, increase or extend Letters of Credit to be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the requestrequest of, or may with the consentconsent of, of the Required Lenders, by notice to the Borrower, declare the NotesLoans, all interest thereon thereon, and all other amounts payable under this Agreement to be forthwith due and payable, whereupon the NotesLoans, all such interest interest, and all such amounts shall become and be forthwith due and payable in full, without presentment, demand, protest or further notice of any kind (including, without limitation, any notice of intent to accelerate or notice of acceleration), all of which are hereby expressly waived by the Borrower,; (b) [Reserved]the Borrower shall, on demand of the Administrative Agent at the request or with the consent of the Required Lenders, deposit with the Administrative Agent into the Cash Collateral Account an amount of cash in Dollars equal to the outstanding Letter of Credit Exposure as security for the Obligations to the extent the Letter of Credit Obligations are not otherwise paid at such time; and (c) the Administrative Agent shall at and the request of, or Lenders may with the consent of, the Required Lenders proceed to enforce its exercise all rights and remedies available under the Credit Documents for the ratable benefit of the Banks by appropriate proceedingsand applicable law.

Appears in 1 contract

Samples: Revolving Credit Agreement (McDermott International Inc)

Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to paragraph (f) of Section 8.01 with respect to the Borrower or the Parent7.1(f)) shall have occurred and be continuing, then, and in any such event, (a) the Administrative Agent (i) shall at the request, or may with the consent, of the Required Majority Lenders, by notice to the Borrower, declare that the obligation of each Bank Lender, the Swingline Lender and each Issuing Lender to make Advances to Credit Extensions shall be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or may with the consent, of the Required Majority Lenders, by notice to the Borrower, declare the Notesall outstanding Advances, all interest thereon thereon, and all other amounts payable under this Agreement to be forthwith due and payable, whereupon the Notessuch Advances, all such interest interest, and all such amounts shall become and be forthwith due and payable in full, without presentment, demand, protest or further notice of any kind (including, without limitation, any notice of intent to accelerate or notice of acceleration), all of which are hereby expressly waived by the Borrower, (b) [Reserved]the Borrower shall, on demand of the Administrative Agent at the request or with the consent of the Majority Lenders, deposit with the Administrative Agent into the Cash Collateral Account an amount of cash equal to 103% of the outstanding Letter of Credit Exposure as security for the Obligations to the extent the Letter of Credit Obligations are not otherwise paid or cash collateralized at such time, and (c) the Administrative Agent shall at the request of, or may with the consent of, the Required Majority Lenders proceed to enforce its rights and remedies under the Guaranty or any other Credit Documents for the ratable benefit of the Banks Document by appropriate proceedings.

Appears in 1 contract

Samples: Credit Agreement (Rowan Companies Inc)

Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to paragraph (fe) of Section 8.01 with respect to the Borrower or the Parent7.1) shall have occurred and be continuing, then, and in any such event, (a1) the Administrative Agent (i) shall at the request, or may with the consent, of the Required LendersMajority Banks, by notice to the Borrower, declare the obligation of each Bank to make Advances and the obligation of each Issuing Bank to issue, increase, or extend Letters of Credit to be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or may with the consent, of the Required LendersMajority Banks, by notice to the Borrower, declare the Notes, all interest thereon thereon, the Letter of Credit Obligations, and all other amounts payable under this Agreement to be forthwith due and payable, whereupon the Notes, all such interest interest, all such Letter of Credit Obligations and all such amounts shall become and be forthwith due and payable in full, without presentment, demand, protest or further notice of any kind (including, without limitation, any notice of intent to accelerate or notice of acceleration), all of which are hereby expressly waived by the Borrower, (b) [Reserved], and (c2) the Administrative Borrower shall, on demand of the Agent shall at the request of, or may with the consent ofof the Majority Banks, deposit with the Required Lenders proceed Agent into the Cash Collateral Account an amount of cash equal to enforce its rights and remedies under the Letter of Credit Documents Exposure as security for the ratable benefit Obligations to the extent the Letter of the Banks by appropriate proceedingsCredit Obligations are not otherwise paid at such time.

Appears in 1 contract

Samples: Credit Agreement (Arkansas Best Corp /De/)

Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to paragraph (fe) of Section 8.01 with respect to the Borrower or the Parent7.01) shall have occurred and be continuing, then, and in any such event, (a) the Administrative Agent (i) shall at the request, or may with the consent, of the Required LendersMajority Banks, by notice to the Borrower, declare the obligation of each Bank and the Issuing Bank to make extensions of credit hereunder, including making Advances and issuing Letters of Credit, to be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or may with the consent, of the Required LendersMajority Banks, by notice to the Borrower, declare the Notesall principal, all interest thereon interest, fees, reimbursements, indemnifications, and all other amounts payable under this Agreement Agreement, the Notes, and the other Credit Documents to be forthwith due and payable, whereupon the Notes, all such interest and all such amounts shall become and be forthwith due and payable in full, without presentment, demand, protest or further notice of any kind (including, without limitation, any notice of intent to accelerate or demand, demand, presentment for payment, notice of nonpayment, protest, notice of protest, grace, notice of dishonor, notice of intent to accelerate, notice of acceleration), and all other notices, all of which are hereby expressly waived by the Borrower, (b) [Reserved], and (c) the Administrative Agent shall at the request of, or may with the consent of, the Required Lenders proceed to enforce its rights and remedies under the Credit Documents for the ratable benefit of the Banks by appropriate proceedings.;

Appears in 1 contract

Samples: Credit Agreement (3dx Technologies Inc)

Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to paragraph (f) of Section 8.01 with respect to the Borrower or the Parent) shall have occurred and be continuing, then, and in any such event, (a) the Administrative Agent (i) shall at the request, or may with the consent, of the Required Lenders, by notice to the Borrower, declare the obligation of each Bank Lender to make Advances an Advance to be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or may with the consent, of the Required Lenders, by notice to the Borrower, declare the Notes, all interest thereon and all other amounts payable under this Agreement to be forthwith due and payable, whereupon the Notes, all such interest and all such amounts shall become and be forthwith due and payable in full, without presentment, demand, protest or further notice of any kind (including, without limitation, any notice of intent to accelerate or notice of acceleration), all of which are hereby expressly waived by the Borrower, (b) [Reserved], and (cb) the Administrative Agent shall at the request of, or may with the consent of, the Required Lenders proceed to enforce its rights and remedies under the Credit Documents for the ratable benefit of the Banks Lenders by appropriate proceedings.

Appears in 1 contract

Samples: Senior Unsecured Term Loan Agreement (Seritage Growth Properties)

Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to paragraph (f) of Section 8.01 with respect to the Borrower or the Parent7.1(f)) shall have occurred and be continuing, then, and in any such event, (a) the Administrative Agent (i) shall at the request, or may with the consent, of the Required Majority Lenders, by notice to the Borrower, declare that the obligation of each Bank Lender to make Advances to shall be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or may with the consent, of the Required Majority Lenders, by notice to the Borrower, declare the Notesall outstanding Advances, all interest thereon thereon, and all other amounts payable under this Agreement to be forthwith due and payable, whereupon the Notessuch Advances, all such interest interest, and all such amounts shall become and be forthwith due and payable in full, without presentment, demand, protest or further notice of any kind (including, without limitation, any notice of intent to accelerate or notice of acceleration), all of which are hereby expressly waived by the Borrower, (b) [Reserved], and (cb) the Administrative Agent shall at the request of, or may with the consent of, the Required Majority Lenders proceed to enforce its rights and remedies under the Guaranty or any other Credit Documents for the ratable benefit of the Banks Document by appropriate proceedings.

Appears in 1 contract

Samples: 364 Day Credit Agreement (Helmerich & Payne Inc)

Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to paragraph (f) of Section 8.01 with respect to the Borrower or the Parentany Guarantor) shall have occurred and be continuing, then, and in any such event, , (a) the Administrative Agent (i) shall at the request, or may with the consent, of the Required Lenders, by notice to the Borrower, declare the Commitments and any other obligation of each Bank Lender to make Advances an Advance to be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or may with the consent, of the Required Lenders, by notice to the Borrower, declare the Notes, all interest thereon and all other amounts payable under this Agreement Obligations to be forthwith due and payable, whereupon the Notes, all such interest and all such amounts Obligations shall become and be forthwith due and payable in full, without presentment, demand, protest or further notice of any kind (including, without limitation, any notice of intent to accelerate or notice of acceleration), all of which are hereby expressly waived by the Borrower, , and (b) [Reserved], and (c) the Administrative Agent shall at the request of, or may with the consent of, the Required Lenders proceed to enforce its rights and remedies under the Credit Documents for the ratable benefit of the Banks Lenders by appropriate proceedings.

Appears in 1 contract

Samples: Credit Agreement

Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to paragraph (fe) of Section 8.01 with respect to the Borrower or the Parent7.01) shall have occurred and be continuingcontinuing after taking into account the applicable cure period, then, and in any such event, (a) the Administrative Agent (i) shall at the request, or may with the consent, of the Required Lenders, by notice to the Borrower, declare the obligation of each Bank Lender to make Advances extensions of credit hereunder, including making Loans to be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or may with the consent, of the Required Lenders, by notice to the Borrower, declare the Notes, all interest thereon and all other amounts payable under this Agreement Obligations to be forthwith due and payable, whereupon the Notes, all such interest and all such amounts shall become and be forthwith due and payable in full, without presentment, demand, protest or further notice of any kind (including, without limitation, any notice of intent to accelerate or demand, demand, presentment for payment, notice of nonpayment, protest, notice of protest, grace, notice of dishonor, notice of intent to accelerate, notice of acceleration), and all other notices, all of which are hereby expressly waived by the Borrower,; and (b) [Reserved], and (c) the Administrative Agent shall at the request of, or may with the consent of, the Required Lenders proceed to enforce its rights and remedies under the Credit Documents Security Instruments, the Guaranties, and any other Loan Document for the ratable benefit of itself, and the Banks Lenders by appropriate proceedings.

Appears in 1 contract

Samples: Credit Agreement (Trans Energy Inc)

Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to paragraph (fe) of Section 8.01 with respect to the Borrower or the Parent7.01) shall have occurred and be continuing, then, and in any such event, (a) , the Administrative Agent (i) shall at the request, or may with the consent, of the Required Majority Lenders, by notice to the Borrower, declare the obligation of each Bank Lender to make Advances extensions of credit hereunder, including making Advances, to be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or may with the consent, of the Required Majority Lenders, by notice to the Borrower, declare the Notesall principal, all interest thereon interest, fees, reimbursements, indemnifications, and all other amounts payable under this Agreement Agreement, the Notes, and the other Loan Documents to be forthwith due and payable, whereupon the Notes, all such interest and all such amounts shall become and be forthwith due and payable in full, without presentment, demand, protest or further notice of any kind (including, without limitation, any notice of intent to accelerate or demand, demand, presentment for payment, notice of nonpayment, protest, notice of protest, grace, notice of dishonor, notice of intent to accelerate, notice of acceleration), and all other notices, all of which are hereby expressly waived by the Borrower, (b) [Reserved], and (c) ; and the Administrative Agent shall at the request of, or may with the consent of, the Required Majority Lenders proceed to enforce its rights and remedies under the Credit Documents Security Instruments, the Guaranties, and any other Loan Document for the ratable benefit of itself and the Banks Lenders by appropriate proceedings.

Appears in 1 contract

Samples: Credit Agreement (Callon Petroleum Co)

Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to paragraph (f) of Section 8.01 with respect to the Borrower or the Parent7.1(f)) shall have occurred and be continuing, then, and in any such event, (a) the Administrative Agent (i) may, and shall at the request, or may with the consent, request of the Required Majority Lenders, by notice to the Borrower, declare that the obligation of each Bank Lender, the Swingline Lender and each Issuing Lender to make Advances to Credit Extensions shall be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or may with may, and shall at the consent, request of the Required Majority Lenders, by notice to the Borrower, declare the Notesall outstanding Advances, all interest thereon thereon, and all other amounts payable under this Agreement to be forthwith due and payable, whereupon the Notessuch Advances, all such interest interest, and all such amounts shall become and be forthwith due and payable in full, without presentment, demand, protest or further notice of any kind (including, without limitation, any notice of intent to accelerate or notice of acceleration), all of which are hereby expressly waived by the Borrower, (b) [Reserved]the Borrower shall, on demand of the Administrative Agent at the request or with the consent of the Majority Lenders, deposit with the Administrative Agent into the Cash Collateral Account an amount of cash equal to 103% of the outstanding Letter of Credit Exposure as security for the Obligations to the extent the Letter of Credit Obligations are not otherwise paid or cash collateralized at such time, and (c) the Administrative Agent may, and shall at the request ofof the Majority Lenders, or may with the consent of, the Required Lenders proceed to enforce its rights and remedies under the Guaranty or any other Credit Documents for the ratable benefit of the Banks Document by appropriate proceedings.

Appears in 1 contract

Samples: Credit Agreement (Helmerich & Payne, Inc.)

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Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to paragraph (fparagraph(e) of Section 8.01 with respect to the Borrower or the ParentSection7.01) shall have occurred and be continuing, then, and in any such event,: (a) the Administrative Agent (i) shall at the requestrequest of, or may with the consentconsent of, of the Required Majority Lenders, by notice to the BorrowerCompany, declare the obligation of each Bank Lender to make Advances and the obligation of such Issuing Bank to issue Letters of Credit to be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the requestrequest of, or may with the consentconsent of, of the Required Majority Lenders, by notice to the BorrowerCompany, declare the Notes, all interest thereon thereon, and all other amounts payable under this Agreement to be forthwith due and payable, whereupon the Notes, all such interest interest, and all such amounts shall become and be forthwith due and payable in full, without presentment, demand, protest or further notice of any kind (including, without limitation, any notice of intent to accelerate or notice of acceleration), all of which are hereby expressly waived by the Borrower,; (b) [Reserved]a Borrower shall, on demand of the Administrative Agent at the request or with the consent of the Majority Lenders, deposit with the Administrative Agent into the Cash Collateral Account an amount of cash in Dollars equal to the outstanding Letter of Credit Exposure as security for the Obligations to the extent the Letter of Credit Obligations are not otherwise paid at such time; and (c) the Administrative Agent shall at and the request of, or Lenders may with the consent of, the Required Lenders proceed to enforce its exercise all rights and remedies available under the Credit Security Documents for the ratable benefit of the Banks by appropriate proceedingsand applicable law.

Appears in 1 contract

Samples: Credit Agreement (Global Industries LTD)

Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to paragraph (f) of Section 8.01 with respect to the Borrower or the Parent7.1(e)) shall have occurred and be continuing, then, and in any such event, (a) the Administrative Agent (i) shall shall, at the request, or may with the consent, direction of the Required Requisite Lenders, by notice to the Borrower, declare the obligation of each Bank Lender to make extensions of credit hereunder, including making Advances to be terminated, whereupon the same shall forthwith terminate, and (ii) shall shall, at the request, or may with the consent, direction of the Required Requisite Lenders, by notice to the Borrower, declare the Notesall principal, all interest thereon interest, fees, reimbursements, indemnifications, and all other amounts payable under this Agreement Agreement, any Notes, and the other Loan Documents to be forthwith due and payable, whereupon the Notes, all such interest and all such amounts shall become and be forthwith due and payable in full, without presentment, demand, protest or further notice of any kind (including, without limitation, any notice of intent to accelerate or demand, demand, presentment for payment, notice of nonpayment, protest, notice of protest, grace, notice of dishonor, notice of intent to accelerate, notice of acceleration), and all other notices, all of which are hereby expressly waived by the Borrower,each Credit Party; (b) [Reserved], and (c) the Administrative Agent shall shall, at the request ofdirection of the Requisite Lenders, or may with the consent of, the Required Lenders proceed to enforce its rights and remedies under the Credit Security Instruments, the Guarantees, and any other Loan Documents for the ratable benefit of the Banks Secured Parties by appropriate proceedings.

Appears in 1 contract

Samples: Delayed Draw Term Loan Credit Agreement (Par Petroleum Corp/Co)

Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to paragraph (f) of Section 8.01 with respect to the Borrower or the ParentSECTION 7.1(e)) shall have occurred and be continuing, then, and in any such event, (a) the Administrative Agent (i) shall at the requestrequest of, or may with the consentconsent of, of the Required Lenders, Majority Banks by notice to the Borrower, declare the obligation of each Bank to make Advances to be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or may with the consent, of the Required LendersMajority Banks, by notice to the Borrower, declare the Notes, all interest thereon on the Notes, and all other amounts payable under this Agreement to be forthwith due and payable, whereupon the Notes, all such interest interest, and all such amounts shall become and be forthwith due and payable in full, without presentment, demand, protest or further notice of any kind (including, without limitation, any notice of intent to accelerate or notice of acceleration), all of which are hereby expressly waived by the Borrower,, and; (b) [Reserved], and (c) the Administrative Agent shall at the request of, or may with the consent of, the Required Lenders Majority Banks proceed to enforce its rights and remedies under the Credit Security Documents for the ratable benefit of the Banks by appropriate proceedings.

Appears in 1 contract

Samples: Credit Agreement (Monro Muffler Brake Inc)

Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to paragraph (f) of Section 8.01 with respect to the Borrower or the Parent7.1(g)) shall have occurred and be continuing, then, and in any such event, (a) the Administrative Agent (i) shall at the request, or may with the consent, of the Required Requisite Lenders, by notice to the Borrower, declare that the obligation of each Bank Lender to make Advances to Loans (if any) shall be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or may with the consent, of the Required Requisite Lenders, by notice to the Borrower, declare the NotesLoans, all accrued and unpaid interest thereon thereon, and all other amounts payable under this Agreement to be forthwith due and payable, whereupon the NotesLoans, all such interest interest, and all such amounts shall become and be forthwith due and payable in full, without presentment, demand, protest or further notice of any kind (including, without limitation, any notice of intent to accelerate or notice of acceleration), all of which are hereby expressly waived by the Borrower,; and (b) [Reserved], and (c) the Administrative Agent shall at the request of, or may with the consent of, the Required Requisite Lenders proceed to enforce its rights and remedies under the Security Documents, the Guaranty, or any other Credit Documents Document for the ratable benefit of the Banks Secured Parties by appropriate proceedings.

Appears in 1 contract

Samples: Term Loan Agreement (Pioneer Energy Services Corp)

Optional Acceleration of Maturity. If Subject to the Intercreditor Agreement, if any Event of Default (other than an Event of Default pursuant to paragraph (f) of Section 8.01 with respect to the Borrower or the Parent) shall have occurred and be continuing, then, and in any such event,: (a) the Administrative Agent (i) shall at the request, or may with the consent, of the Required Lenders, by notice to the Borrower, declare that the obligation of each Bank Lender to make Advances to shall be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or may with the consent, of the Required Lenders, by notice to the Borrower, declare the Obligations, the Notes, all interest thereon thereon, and all other amounts payable under this Agreement to be forthwith due and payable, whereupon the Obligations, the Notes, all such interest interest, and all such amounts shall become and be forthwith due and payable in full, without presentment, demand, protest or further notice of any kind (including, without limitation, any notice of intent to accelerate or notice of acceleration), all of which are hereby expressly waived by each of the Borrower, (b) [Reserved]Credit Parties, and (cb) the Administrative Agent shall at the request of, or may with the consent of, the Required Lenders proceed to enforce its rights and remedies under the Security Documents, the Guaranties, or any other Credit Documents Document for the ratable benefit of the Banks Secured Parties by appropriate proceedings.

Appears in 1 contract

Samples: Second Lien Credit Agreement (Triangle Petroleum Corp)

Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to paragraph (fe) of Section 8.01 with respect to the Borrower or the Parent7.01) shall have occurred and be continuing, then, and in any such event, (a) the Administrative Agent (i) shall at the request, or may with the consent, of the Required LendersMajority Banks, by notice to the Borrower, declare the obligation of each Bank to make Advances and the obligation of the Issuing Bank to issue Letters of Credit to be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or may with the consent, of the Required LendersMajority Banks, by notice to the Borrower, declare the Notes, all interest thereon thereon, the Letter of Credit Obligations, and all other amounts payable under this Agreement to be forthwith due and payable, whereupon the Notes, all such interest interest, all such Letter of Credit Obligations and all such amounts shall become and be forthwith due and payable in full, without presentment, demand, protest or further notice of any kind (including, without limitation, any notice of intent to accelerate or notice of acceleration), all of which are (unless otherwise provided for herein) hereby expressly waived by the Borrower,Borrower and (b) [Reserved]the Borrower shall, and (c) on demand of the Administrative Agent shall at the request of, or may with the consent ofof the Majority Banks, deposit with the Required Lenders proceed Agent into the Cash Collateral Account an amount of cash equal to enforce its rights and remedies under the outstanding Letter of Credit Documents Exposure as security for the ratable benefit Obligations to the extent the Letter of the Banks by appropriate proceedingsCredit Obligations are not otherwise paid at such time.

Appears in 1 contract

Samples: Credit Agreement (Equity Corp International)

Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to paragraph (fe) of Section 8.01 with respect to the Borrower or the Parent7.01) shall have occurred and be continuing, then, and in any such event, (a) the Administrative Agent (i) shall at the request, or may with the consent, of the Required LendersMajority Banks, by notice to the Borrower, declare the obligation of each Bank and the Issuing Bank to make extensions of credit hereunder, including making Advances and issuing Letters of Credit, to be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or may with the consent, of the Required LendersMajority Banks, by notice to the Borrower, declare the Notesall principal, all interest thereon interest, fees, reimbursements, indemnifications, and all other amounts payable under this Agreement Agreement, the Notes, and the other Credit Documents to be forthwith due and payable, whereupon the Notes, all such interest and all such amounts shall become and be forthwith due and payable in full, without presentment, demand, protest or further notice of any kind (including, without limitation, any notice of intent to accelerate or notice of acceleration), all of which are hereby expressly waived by the Borrower,and (b) [Reserved]the Borrower shall, on demand of the Agent at the request or with the consent of the Majority Banks, deposit with the Agent into the Cash Collateral Account an amount of cash equal to the Letter of Credit Exposure as security for the Obligations; and (c) the Administrative Agent shall at the request of, or may with the consent of, the Required Lenders Majority Banks proceed to enforce its rights and remedies under the Security Documents, the Guaranties, and any other Credit Documents Document for the ratable benefit of the Banks by appropriate proceedings.

Appears in 1 contract

Samples: Credit Agreement (Stone Energy Corp)

Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to paragraph (fe) of Section 8.01 with respect to the Borrower or the Parent6.01) shall have occurred and be continuing, then, and in any such event, (a) the Administrative Agent (i) shall at the request, or may with the consent, of the Required LendersBanks, by notice to the Borrower, declare the obligation obligations of each Bank the Banks to make Advances and the obligation of the Issuing Bank to issue, increase, or extend Letters of Credit to be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or may with the consent, of the Required LendersBanks, by notice to the Borrower, declare the Notes, all interest thereon thereon, and all other amounts payable under this Agreement (including without limitation, contingent obligations under outstanding Letters of Credit) to be forthwith due and payable, whereupon the Notes, all such interest interest, and all such other amounts shall become and be forthwith due and payable in full, without presentment, demand, protest or further notice of any kind (including, without limitation, any notice of intent to accelerate or notice of acceleration), all of which are hereby expressly waived by the Borrower,, and (b) [Reserved]the Borrower shall, and (c) on demand of the Administrative Agent shall at the request of, or may with the consent of, the Required Lenders proceed to enforce its rights and remedies under the Credit Documents for the ratable benefit of the Banks by appropriate proceedingsIssuing Bank, deposit with the Agent into the Collateral Account an amount of cash equal to the contingent obligations of the Borrower under outstanding Letters of Credit as security for such Obligations until they are no longer contingent.

Appears in 1 contract

Samples: Credit Agreement (Valhi Inc /De/)

Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to paragraph (fe) of Section 8.01 with respect to the Borrower or the Parent7.01) shall have occurred and be continuing, then, and in any such event, (a) the Administrative Agent (i) shall at the request, or may with the consent, consent of the Required Lenders, by notice to the Borrower, declare the obligation of each Bank to make Advances Lender hereunder, including making Advances, to be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or may with the consent, of the Required Lenders, by notice to the Borrower, declare the Notesall principal, all interest thereon interest, fees, reimbursements, indemnifications, and all other amounts payable under this Agreement Agreement, the Notes, and the other Loan Documents to be forthwith due and payable, whereupon the Notes, all such interest and all such amounts shall become and be forthwith due and payable in full, without presentment, demand, protest or further notice of any kind (including, without limitation, any notice of intent to accelerate or demand, demand, presentment for payment, notice of nonpayment, protest, notice of protest, grace, notice of dishonor, notice of intent to accelerate, notice of acceleration), and all other notices, all of which are hereby expressly waived by the Borrower,; (b) [Reserved], and (c) the Administrative Agent shall at the request of, or may with the consent of, the Required Lenders proceed to enforce its rights and remedies under the Credit Documents Security Instruments, the Guaranties, and any other Loan Document for the ratable benefit of itself and the Banks Lenders by appropriate proceedings.

Appears in 1 contract

Samples: Credit Agreement (Three Forks, Inc.)

Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to paragraph (fe) of Section 8.01 with respect to the Borrower or the Parent7.01) shall have occurred and be continuing, then, and in any such event, (a) the Administrative Agent (i) shall at the request, or may with the consent, of the Required LendersMajority Banks, by notice to the Borrower, declare the obligation of each Bank and the Issuing Bank to make extensions of credit hereunder, including the making of Advances and issuing of Letters of Credit, to be terminated, whereupon the same shall forthwith terminate, and terminate or (ii) shall shall, at the request, or may with the consent, of the Required LendersMajority Banks, by notice to the Borrower, declare the Notesall principal, all interest thereon interest, fees, reimbursements, indemnifications and all other amounts payable under this Agreement to be forthwith due and payable, whereupon the Notes, all such interest interest, and all such amounts shall become and be forthwith due and payable in full, without presentment, demand, protest or further notice of any kind (including, without limitation, any notice of intent to accelerate or notice of acceleration), all of which are hereby expressly waived by the Borrower,; (b) [Reserved]the Borrower shall, on demand of the Administrative Agent at the request or with the consent of the Majority Banks, deposit with the Administrative Agent into the Cash Collateral Account an amount of cash equal to the Letter of Credit Exposure as security for the Obligations; and (c) the Administrative Agent shall at the request of, or may with the consent of, of the Required Lenders Majority Banks proceed to enforce its rights and remedies under the Security Documents, the Guaranties, and any other Credit Documents for the ratable benefit of the Banks by appropriate proceedings.

Appears in 1 contract

Samples: Credit Agreement (Crosstex Energy Lp)

Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to paragraph (fe) of Section 8.01 with respect to the Borrower or the Parent7.01) shall have occurred and be continuing, then, and in any such event,: (a) the Administrative Agent (i) shall at the requestrequest of, or may with the consentconsent of, of the Required Majority Lenders, by notice to the BorrowerCompany, declare the obligation of each Bank Lender to make Advances and the obligation of such Issuing Bank to issue Letters of Credit to be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the requestrequest of, or may with the consentconsent of, of the Required Majority Lenders, by notice to the BorrowerCompany, declare the Notes, all interest thereon thereon, and all other amounts payable under this Agreement to be forthwith due and payable, whereupon the Notes, all such interest interest, and all such amounts shall become and be forthwith due and payable in full, without presentment, demand, protest or further notice of any kind (including, without limitation, any notice of intent to accelerate or notice of acceleration), all of which are hereby expressly waived by the Borrower,; (b) [Reserved]a Borrower shall, on demand of the Administrative Agent at the request or with the consent of the Majority Lenders, deposit with the Administrative Agent into the Cash Collateral Account an amount of cash in Dollars equal to the outstanding Letter of Credit Exposure as security for the Obligations to the extent the Letter of Credit Obligations are not otherwise paid at such time; and (c) the Administrative Agent shall at and the request of, or Lenders may with the consent of, the Required Lenders proceed to enforce its exercise all rights and remedies available under the Credit Security Documents for the ratable benefit of the Banks by appropriate proceedingsand applicable law.

Appears in 1 contract

Samples: Credit Agreement (Global Industries LTD)

Optional Acceleration of Maturity. If any Event of Default (other than an Event of a Default pursuant to paragraph (f) of under Section 8.01 with respect to the Borrower 7.6, 7.7, or the Parent7.8) shall have occurred and be continuing, then, and in any such event, (a) the Administrative Agent (i) shall at the request, or may with the consent, of the Required Lenders, by notice to the BorrowerBorrowers, declare the obligation of each Lender to make Loans and the obligation of each Issuing Bank to make Advances issue, increase, or extend Letters of Credit to be terminated, whereupon the same shall forthwith terminate, terminate and (ii) shall at the request, or may with the consent, of the Required Lenders, by notice to the Borrower, declare the Notes, all interest thereon thereon, the Letter of Credit Obligations, and all other amounts payable under this Agreement to be forthwith due and payable, whereupon the Notes, all such interest interest, all such Letter of Credit Obligations and all such amounts shall become and be forthwith due and payable in full, without presentment, demand, protest protest, or further notice of any kind (including, without limitation, any notice of intent to accelerate or notice of acceleration), all of which are hereby expressly waived by the Borrower,Borrowers; (b) [Reserved]the Borrower shall, and (c) on demand of the Administrative Agent shall at the request of, or may with the consent of, of the Required Lenders proceed Lenders, deposit with the Agent into the Cash Collateral Account an amount of cash equal to enforce its rights and remedies under the Letter of Credit Documents Exposure as security for the ratable benefit Obligations to the extent the Letter of the Banks by appropriate proceedings.Credit Obligations are not otherwise paid at such time; and

Appears in 1 contract

Samples: Credit Agreement (Cooper Cameron Corp)

Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to paragraph (f) of Section 8.01 with respect to the Borrower or the Parent7.1(e)) shall have occurred and be continuing, then, and in any such event, (a) the Administrative Agent (i) shall may or, at the request, or may with the consent, direction of the Required Requisite Lenders, shall, by notice to the Borrower, declare the obligation of each Bank Lender to make Advances the Loans hereunder to be terminated, whereupon the same shall forthwith terminate, and (ii) shall may or, at the request, or may with the consent, direction of the Required Requisite Lenders, shall, by notice to the Borrower, declare the Notesall principal, all interest thereon interest, fees, reimbursements, indemnifications, and all other amounts Obligations payable under this Agreement Agreement, any Notes, and the other Loan Documents to be forthwith due and payable, whereupon the Notes, all such interest and all such amounts (including without limitation the Applicable Premium) shall become and be forthwith due and payable in full, without presentment, demand, protest or further notice of any kind (including, without limitation, any notice of intent to accelerate or demand, demand, presentment for payment, notice of nonpayment, protest, notice of protest, grace, notice of dishonor, notice of intent to accelerate, notice of acceleration), and all other notices, all of which are hereby expressly waived by the Borrower,each Credit Party; (b) [Reserved], and (c) the Administrative Agent shall may or, at the request ofdirection of the Requisite Lenders, or may with the consent ofshall, the Required Lenders proceed to enforce its rights and remedies under the Credit Security Instruments, the Guarantees, and any other Loan Documents for the ratable benefit of the Banks Secured Parties by appropriate proceedings.

Appears in 1 contract

Samples: Term Loan Agreement (Gevo, Inc.)

Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to paragraph (f) of Section 8.01 with respect to the Borrower or the Parent7.1(f)) shall have occurred and be continuing, then, and in any such event, (a) the Administrative Agent (i) shall at the request, or may with the consent, of the Required Majority Lenders, by notice to the Borrower, declare the obligation of each Bank to make Advances to be terminated, whereupon the same shall forthwith terminate, and Term Loan (ii) shall at the request, or may with the consent, of the Required Lenders, by notice to the Borrower, declare the Notesincluding, all principal and interest thereon thereon), and all other amounts payable under this Agreement to be forthwith due and payable, whereupon the Notes, Term Loan (including all such interest principal and interest), and all such other amounts payable under this Agreement shall become and be forthwith due and payable in full, without presentment, demand, protest or further notice of any kind (including, without limitation, any notice of intent to accelerate or notice of acceleration), all of which are hereby expressly waived by each of the Borrower, Credit Parties (bfor the avoidance of doubt, no cure rights with respect to the Make Whole Payment shall prevent the Administrative Agent from declaring Obligations (exclusive of the Make Whole Payment) [Reserved]immediately due and payable pursuant to the term of this Section 7.2(a)), and (cb) the Administrative Agent shall at the request of, or may with the consent of, the Required Majority Lenders proceed to enforce its rights and remedies under the Guaranties or any other Credit Documents Document for the ratable benefit of the Banks Secured Parties by appropriate proceedings.

Appears in 1 contract

Samples: Credit Agreement (Carbo Ceramics Inc)

Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to paragraph (f) of Section 8.01 with respect to the Borrower or the Parent) shall have occurred and be continuing, then, and in any such event, (a) the Administrative Agent (i) shall at the request, or may with the consent, of the Required Lenders, by notice to the Borrower, declare the obligation of each Bank Lender to make Advances to be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or may with the consent, of the Required Lenders, by notice to the Borrower, declare the Notes, all interest thereon and all other amounts payable under this Agreement to be forthwith due and payable, whereupon the Notes, all such interest and all such amounts shall become and be forthwith due and payable in full, without presentment, demand, protest or further notice of any kind (including, without limitation, any notice of intent to accelerate or notice of acceleration), all of which are hereby expressly waived by the Borrower, (b) [Reserved], and (cb) the Administrative Agent shall at the request of, or may with the consent of, the Required Lenders proceed to enforce its rights and remedies under the Credit Documents for the ratable benefit of the Banks Lenders by appropriate proceedings.

Appears in 1 contract

Samples: Senior Unsecured Term Loan Agreement (Seritage Growth Properties)

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