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 7.01(e)) shall have occurred and be continuing, then, and in any such event, (a) Lender (i) may by notice to Borrowers, declare the obligation of Lender to make extensions of credit hereunder, including making Advances and issuing, increasing, or extending Letters of Credit, to be terminated, whereupon the same shall forthwith terminate, and (ii) may by notice to Borrowers, declare all principal, interest, fees, reimbursements, indemnifications, and all other amounts payable under this Agreement and the other Loan Documents to be forthwith due and payable, whereupon all such amounts shall become and be forthwith due and payable in full, without notice of intent to 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 Borrowers; (b) Borrowers shall, on demand of Lender, deposit with Lender into the Cash Collateral Account an amount of cash equal to the Letter of Credit Exposure as security for the Total Obligations; and (c) Lender may proceed to enforce its rights and remedies hereunder and under any other Loan Document by appropriate proceedings.

Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to Section 7.01(e7.01(g) or (h)) shall have occurred and be continuing, then, and in any such event, : (a) Lender the Administrative Agent (i) may shall at the request, or may, with the consent, of the Required Revolving Lenders, by notice to Borrowersthe Parent Borrower, declare the Revolving Commitments and the obligation of each Revolving Lender and the Issuing Banks to make extensions of credit hereunder, including making Advances Loans and issuing, increasing, or extending issuing Letters of Credit, to be terminated, whereupon the same shall forthwith terminate, and and/or (ii) may shall at the request, or may, with the consent, of the Required Lenders, by notice to Borrowersthe Parent Borrower, declare all principal, interest, fees, reimbursements, indemnifications, and all other amounts payable under this Agreement and the other Loan Documents to be forthwith due and payable, whereupon all such amounts shall become and be forthwith due and payable in full, without notice of intent to 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 Borrowers; (b) Borrowers shall, on demand of Lender, deposit with Lender into the Cash Collateral Account an amount of cash equal to the Letter of Credit Exposure as security for the Total Obligations; and (c) Lender may proceed to enforce its rights and remedies hereunder and under any other Loan Document by appropriate proceedings.