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 Section 7.1(g) shall have occurred and be continuing, then, and in any such event, (a) the Applicable Administrative Agent (i) shall at the request, or may with the consent, of the Majority Lenders, by notice to the Borrowers, declare that the obligation of each Lender, each Swingline Lender and each Issuing Lender to make (or cause to be made) Credit Extensions shall be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or may with the consent, of the Majority Lenders, by notice to the Borrowers, declare all outstanding Advances, all interest thereon, and all other amounts payable under this Agreement to be forthwith due and payable, whereupon such Advances, 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 each Borrower, (b) the US Borrower shall, on demand of the US Administrative Agent at the request or with the consent of the US Majority Lenders, provide Collateralization to the US Administrative Agent as security for the Obligations to the extent the US Letter of Credit Obligations are not otherwise paid or cash collateralized at such time, (c) the Canadian Borrower shall, on demand of the Canadian Administrative Agent at the request or with the consent of the Canadian Majority Lenders, provide Collateralization to the Canadian Administrative Agent as security for the Obligations to the extent the Canadian Letter of Credit Obligations are not otherwise paid or cash collateralized at such time, and (d) the Applicable Administrative Agent shall at the request of, or may with the consent of, the Majority Lenders proceed to enforce its rights and remedies under the Security Documents, the Guaranties, or any other Credit Document by appropriate proceedings.

Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to Section 7.1(g) shall have occurred and be continuing, then, and in any such event, (a) the Applicable Administrative Agent (i) shall at the request, or may with the consent, of the Majority Lenders, by notice to the Borrowers, declare that the obligation of each Lender, each Swingline Lender and each Issuing Lender to make (or cause to be made) Credit Extensions shall be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or may with the consent, of the Majority Lenders, by notice to the Borrowers, declare all outstanding Advances, all interest thereon, and all other amounts payable under this Agreement to be forthwith due and payable, whereupon such Advances, 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 each Borrower, (b) the US Borrower shall, on demand of the US Administrative Agent at the request or with the consent of the US Majority Lenders, provide Collateralization to deposit with the US Administrative Agent into the US Cash Collateral Account an amount of cash equal to the outstanding US Letter of Credit Exposure as security for the Obligations to the extent the US Letter of Credit Obligations are not otherwise paid or cash collateralized at such time, (c) the Canadian Borrower shall, on demand of the Canadian Administrative Agent at the request or with the consent of the Canadian Majority Lenders, provide Collateralization to deposit with the Canadian Administrative Agent into the Canadian Cash Collateral Account an amount of cash equal to the outstanding Canadian Letter of Credit Exposure as security for the Canadian Obligations to the extent the Canadian Letter of Credit Obligations are not otherwise paid or cash collateralized at such time, and (d) the Applicable Administrative Agent shall at the request of, or may with the consent of, the Majority Lenders proceed to enforce its rights and remedies under the Security Documents, the Guaranties, or any other Credit Document by appropriate proceedings.

Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to Section 7.1(g) shall have occurred and be continuing, then, and in any such event, (a) the Applicable US Administrative Agent (i) shall at the request, or may with the consent, of the Majority Lenders, by notice to the BorrowersUS Borrower, declare that the obligation of each Lender, each Swingline US Facility Lender to make Advances and each the obligation of the Issuing Lender to make (or cause to be made) issue Letters of Credit Extensions shall be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or may with the consent, of the Majority Lenders, by notice to the BorrowersUS Borrower, declare all outstanding the US Advances, all interest thereon, and all other amounts payable under this Agreement to be forthwith due and payable, whereupon such the US Advances, 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 each of the US Credit Parties, 123 (b) the Canadian Administrative Agent (i) shall at the request, or may with the consent, of the Majority Lenders, by notice to the Canadian Borrower, declare that the obligation of each Canadian Facility Lender to make Advances shall be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or may with the consent, of the Majority Lenders, by notice to the Canadian Borrower, declare the Canadian Advances, all interest thereon, and all other amounts payable under this Agreement to be forthwith due and payable, whereupon the Canadian Advances, 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 each of the Canadian Credit Parties, (bc) the US Borrower shall, on demand of the US Administrative Agent at the request or with the consent of the US Majority Lenders, provide Collateralization to deposit with the US 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 US Secured Obligations to the extent the US Letter of Credit Obligations are not otherwise paid or cash collateralized at such time, (c) the Canadian Borrower shall, on demand of the Canadian Administrative Agent at the request or with the consent of the Canadian Majority Lenders, provide Collateralization to the Canadian Administrative Agent as security for the Obligations to the extent the Canadian Letter of Credit Obligations are not otherwise paid or cash collateralized Cash Collateralized at such time, and (d) the Applicable applicable Administrative Agent shall at the request of, or may with the consent of, the Majority Lenders proceed to enforce its rights and remedies under the Security Documents, the GuarantiesGuaranty, or any other Credit Document for the ratable benefit of the applicable Secured Parties by appropriate proceedings.

Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to Section 7.1(g) shall have occurred and be continuing, then, and in any such event, (a) the Applicable US Administrative Agent (i) shall at the request, or may with the consent, of the Majority Lenders, by notice to the BorrowersUS Borrower, declare that the obligation of each Lender, each Swingline US Facility Lender to make Advances and each the obligation of the Issuing Lender to make (or cause to be made) issue Letters of Credit Extensions shall be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or may with the consent, of the Majority Lenders, by notice to the BorrowersUS Borrower, declare all outstanding the US Advances, all interest thereon, and all other amounts payable under this Agreement to be forthwith due and payable, whereupon such the US Advances, 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 each Borrowerof the US Credit Parties, (b) the US Borrower Canadian Administrative Agent (i) shall at the request, or may with the consent, of the Majority Lenders, by notice to the Canadian Borrower, declare that the obligation of each Canadian Facility Lender to make Advances shall be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or may with the consent, of the Majority Lenders, by notice to the Canadian Borrower, declare the Canadian Advances, all interest thereon, and all other amounts payable under this Agreement to be forthwith due and payable, whereupon the Canadian Advances, 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 each of the Canadian Credit Parties, (c) the Borrowers shall, on demand of the US Administrative Agent at the request or with the consent of the US Majority Lenders, provide Collateralization to deposit with the US 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 US Secured Obligations to the extent the US Letter of Credit Obligations are not otherwise paid or cash collateralized at such time, (c) the Canadian Borrower shall, on demand of the Canadian Administrative Agent at the request or with the consent of the Canadian Majority Lenders, provide Collateralization to the Canadian Administrative Agent as security for the Obligations to the extent the Canadian Letter of Credit Obligations are not otherwise paid or cash collateralized Cash Collateralized at such time, andand 123 (d) the Applicable applicable Administrative Agent shall at the request of, or may with the consent of, the Majority Lenders proceed to enforce its rights and remedies under the Security Documents, the GuarantiesGuaranty, or any other Credit Document for the ratable benefit of the applicable Secured Parties by appropriate proceedings.

Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to Section 7.1(g) shall have occurred and be continuing, then, and in any such event, (a) the Applicable US Administrative Agent (i) shall at the request, or may with the consent, of the Majority Lenders, by notice to the BorrowersUS Borrower, declare that the obligation of each Lender, each Swingline US Facility Lender to make Advances and each the obligation of the Issuing Lender to make (or cause to be made) issue Letters of Credit Extensions shall be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or may with the consent, of the Majority Lenders, by notice to the BorrowersUS Borrower, declare all outstanding the US Advances, all interest thereon, and all other amounts payable under this Agreement to be forthwith due and payable, whereupon such the US Advances, 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 each Borrowerof the US Credit Parties, (b) the Canadian Administrative Agent (i) shall at the request, or may with the consent, of the Majority Lenders, by notice to the Canadian Borrower, declare that the obligation of each Canadian Facility Lender to make Advances shall be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or may with the consent, of the Majority Lenders, by notice to the Canadian Borrower, declare the Canadian Advances, all interest thereon, and all other amounts payable under this Agreement to be forthwith due and payable, whereupon the Canadian Advances, 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 each of the Canadian Credit Parties, (c) the US Borrower shall, on demand of the US Administrative Agent at the request or with the consent of the US Majority Lenders, provide Collateralization to deposit with the US 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 US Secured Obligations to the extent the US Letter of Credit Obligations are not otherwise paid or cash collateralized at such time, (c) the Canadian Borrower shall, on demand of the Canadian Administrative Agent at the request or with the consent of the Canadian Majority Lenders, provide Collateralization to the Canadian Administrative Agent as security for the Obligations to the extent the Canadian Letter of Credit Obligations are not otherwise paid or cash collateralized Cash Collateralized at such time, and (d) the Applicable applicable Administrative Agent shall at the request of, or may with the consent of, the Majority Lenders proceed to enforce its rights and remedies under the Security Documents, the GuarantiesGuaranty, or any other Credit Document for the ratable benefit of the applicable Secured Parties by appropriate proceedings.