Common use of Optional Defaults Clause in Contracts

Optional Defaults. If any Event of Default referred to in Section 7.1, 7.2, 7.3, 7.4, 7.5, 7.6, 7.7, 7.8, 7.9 or 7.10 hereof shall occur, Agent may, with the consent of the Required Lenders, and shall, at the written request of the Required Lenders, give written notice to Borrowers to: (a) terminate the Commitment, if not previously terminated, and, immediately upon such election, the obligations of the Lenders, and each thereof, to make any further Loan, and the obligation of the Fronting Lender to issue any Letter of Credit, immediately shall be terminated; and/or (b) accelerate the maturity of all of the Obligations (if the Obligations are not already due and payable), whereupon all of the Obligations shall become and thereafter be immediately due and payable in full without any presentment or demand and without any further or other notice of any kind, all of which are hereby waived by each Borrower.

Appears in 7 contracts

Samples: Credit Agreement (TTEC Holdings, Inc.), Credit Agreement (TTEC Holdings, Inc.), Credit Agreement (Teletech Holdings Inc)

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Optional Defaults. If any Event of Default referred to in Section 7.17.01, 7.27.02, 7.37.03, 7.47.04, 7.57.05, 7.67.06, 7.77.07, 7.8, 7.9 7.08 or 7.10 7.09 hereof shall occur, Agent may, with the consent of the Required LendersBanks, and shall, at the written request of the Required LendersBanks, give written notice to Borrowers Borrowers, to: (a) terminate the CommitmentCommitment and the credits hereby established, if not previously terminated, and, immediately upon such election, the obligations of the LendersBanks, and each thereof, to make any further Loan, Loan and the obligation of the Fronting Lender Agent to issue make any Letter of Credit, Swing Loan hereunder immediately shall be terminated; , and/or (b) accelerate the maturity of all of the Obligations Debt (if the Obligations are Debt is not already due and payable), whereupon all of the Obligations Debt shall become and thereafter be immediately due and payable in full without any presentment or demand and without any further or other notice of any kind, all of which are hereby waived by each BorrowerBorrowers.

Appears in 5 contracts

Samples: Credit Agreement (Nordson Corp), Credit Agreement (Nordson Corp), Credit Agreement (Nordson Corp)

Optional Defaults. If any Event of Default referred to in Section 7.18.1, 7.28.2, 7.38.3, 7.48.4, 7.58.5, 7.68.6, 7.78.7, 7.88.8, 7.9 8.9 or 7.10 8.10 hereof shall occur, the Administrative Agent may, with the consent of the Required Lenders, and shall, at the written request of the Required Lenders, give written notice to Borrowers the Borrower to: (a) terminate the Commitment, if not previously terminated, and, immediately upon such election, the obligations of the Lenders, and each thereof, to make any further Loan, and the obligation of the Fronting Issuing Lender to issue any Letter of Credit, immediately shall be terminated; and/or (b) accelerate the maturity of all of the Obligations (if the Obligations are not already due and payable), whereupon all of the Obligations shall become and thereafter be immediately due and payable in full without any presentment or demand and without any further or other notice of any kind, all of which are hereby waived by each the Borrower.

Appears in 4 contracts

Samples: Credit and Security Agreement (Sleep Number Corp), Credit and Security Agreement (Sleep Number Corp), Credit and Security Agreement (Sleep Number Corp)

Optional Defaults. If any Event of Default referred to in Section 7.1, 7.2, 7.3, 7.4, 7.5, 7.6, 7.7, 7.8, 7.9 7.9, 7.10 or 7.10 7.11 hereof shall occur, Agent may, with the consent of the Required Lenders, and shall, at the written request of the Required Lenders, give written notice to Borrowers Borrower to: (a) terminate the Commitment, if not previously terminated, and, immediately upon such election, the obligations of the Lenders, and each thereof, to make any further Loan, Loan and the obligation of the Fronting Lender to issue any Letter of Credit, Credit immediately shall be terminated; and/or (b) accelerate the maturity of all of the Obligations (if the Obligations are not already due and payable), whereupon all of the Obligations shall become and thereafter be immediately due and payable in full without any presentment or demand and without any further or other notice of any kind, all of which are hereby waived by each Borrower.

Appears in 4 contracts

Samples: Credit Agreement (Sykes Enterprises Inc), Credit Agreement (Teletech Holdings Inc), Credit Agreement (Teletech Holdings Inc)

Optional Defaults. If any Event of Default referred to in Section 7.18.1, 7.28.2, 7.38.3, 7.48.4, 7.58.5, 7.68.6, 7.78.7, 7.88.8, 7.9 8.9 or 7.10 8.10 hereof shall occur, Agent may, with the consent of the Required Lenders, and shall, at the written request of the Required Lenders, give written notice to Borrowers to: (a) terminate the Commitment, if not previously terminated, and, immediately upon such election, the obligations of the Lenders, and each thereof, to make any further Loan, and the obligation of the Fronting Lender to issue any Letter of Credit, immediately shall be terminated; and/or (b) accelerate the maturity of all of the Obligations (if the Obligations are not already due and payable), whereupon all of the Obligations shall become and thereafter be immediately due and payable in full without any presentment or demand and without any further or other notice of any kind, all of which are hereby waived by each Borrower.

Appears in 3 contracts

Samples: Credit and Security Agreement (Epiq Systems Inc), Credit and Security Agreement (Epiq Systems Inc), Credit and Security Agreement (Epiq Systems Inc)

Optional Defaults. If any Event of Default referred to in Section 7.18.1, 7.28.2, 7.38.3, 7.48.4, 7.58.5, 7.68.6, 7.78.7, 7.88.8, 7.9 8.9 or 7.10 8.10 hereof shall occur, Agent may, with the consent of the Required Lenders, and shall, at the written request of the Required Lenders, give written notice to Borrowers Borrower to: (a) terminate the Commitment, if not previously terminated, and, immediately upon such election, the obligations of the Lenders, and each thereof, to make any further Loan, and the obligation of the Fronting Lender to issue any Letter of Credit, immediately shall be terminated; and/or (b) accelerate the maturity of all of the Obligations (if the Obligations are not already due and payable), whereupon all of the Obligations shall become and thereafter be immediately due and payable in full without any presentment or demand and without any further or other notice of any kind, all of which are hereby waived by each Borrower.

Appears in 2 contracts

Samples: Credit and Security Agreement (Jupitermedia Corp), Credit and Security Agreement (Netscout Systems Inc)

Optional Defaults. If any Event of Default referred to in Section 7.17.01, 7.2Section 7.02, 7.3Section 7.03, 7.4Section 7.04, 7.5Section 7.05, 7.6Section 7.06, 7.7Section 7.07, 7.8, 7.9 Section 7.08 or 7.10 Section 7.09 hereof shall occur, Agent may, with the consent of the Required Lenders, and shall, at the written request of the Required Lenders, give written notice to Borrowers Borrower, to: (a) terminate the CommitmentCommitment and the credits hereby established, if not previously terminated, and, immediately upon such election, the obligations of the Lenders, and each thereof, to make any further Loan, the obligation of Agent to make any Swing Loan, and the obligation of the Fronting Lender LC Issuer to issue any Letter of Credit, Credit hereunder immediately shall be terminated; , and/or (b) accelerate the maturity of all of the Obligations Debt (if the Obligations are Debt is not already due and payable), whereupon all of the Obligations Debt shall become and thereafter be immediately due and payable in full without any presentment or demand and without any further or other notice of any kind, all of which are hereby waived by each Borrower.

Appears in 2 contracts

Samples: Credit Agreement (Steris Corp), Credit Agreement (Steris Corp)

Optional Defaults. If any Event of Default referred to in Section 7.18.1, 7.28.2, 7.38.3, 7.48.4, 7.58.5, 7.68.6, 7.78.7, 7.88.8, 7.9 8.9, 8.10, 8.11, 8.12 or 7.10 8.13 hereof shall occur, Agent may, with the consent of the Required Lenders, and shall, at the written request of the Required Lenders, give written notice to Borrowers Borrower to: (a) terminate the Commitment, if not previously terminated, and, immediately upon such election, the obligations of the Lenders, and each thereof, to make any further Loan, and the obligation of the Fronting Lender Lenders to issue any Letter of Credit, immediately shall be terminated; and/or (b) accelerate the maturity of all of the Obligations (if the Obligations are not already due and payable), whereupon all of the Obligations shall become and thereafter be immediately due and payable in full without any presentment or demand and without any further or other notice of any kind, all of which are hereby waived by each Borrower.

Appears in 2 contracts

Samples: Credit and Security Agreement (Shiloh Industries Inc), Credit and Security Agreement (Shiloh Industries Inc)

Optional Defaults. If any Event of Default referred to in Section 7.1, 7.2, 7.3, 7.4, 7.5, 7.6, 7.7, 7.8, 7.9 or 7.10 hereof shall occur, Agent may, with the consent of the Required LendersBanks, and shall, at the written request of the Required LendersBanks, give written notice to Borrowers Borrower, to: (a) terminate the CommitmentCommitment and the credits hereby established, if not previously terminated, and, immediately upon such election, the obligations of the LendersBanks, and each thereof, to make any further Loan, Loan and the obligation of the Fronting Lender Bank to issue any Letter of Credit, Credit hereunder immediately shall be terminated; , and/or (b) accelerate the maturity of all of the Obligations Debt (if the Obligations are Debt is not already due and payable), whereupon all of the Obligations Debt shall become and thereafter be immediately due and payable in full without any presentment or demand and without any further or other notice of any kind, all of which are hereby waived by each Borrower.

Appears in 2 contracts

Samples: Credit Agreement (Davey Tree Expert Co), Credit Agreement (Davey Tree Expert Co)

Optional Defaults. If any Event of Default referred to in Section 7.18.1, 7.28.2, 7.38.3, 7.48.4, 7.58.5, 7.68.6, 7.78.7, 7.88.8, 7.9 8.9, 8.10, or 7.10 8.11 hereof shall occur, Agent may, with the consent of the Required Lenders, and shall, at the written request of the Required Lenders, give written notice to Borrowers to: (a) terminate the Commitment, if not previously terminated, and, immediately upon such election, the obligations of the Lenders, and each thereof, to make any further Loan, and the obligation of the Fronting Lender Lenders to issue any Letter of Credit, immediately shall be terminated; and/or (b) accelerate the maturity of all of the Obligations (if the Obligations are not already due and payable), whereupon all of the Obligations shall become and thereafter be immediately due and payable in full without any presentment or demand and without any further or other notice of any kind, all of which are hereby waived by each Borrower.

Appears in 2 contracts

Samples: Credit Agreement (Gibraltar Industries, Inc.), Credit Agreement (Gibraltar Industries, Inc.)

Optional Defaults. If any Event of Default referred to in Section 7.1, 7.2, 7.3, 7.4, 7.5, 7.6, 7.7, 7.8, 7.9 7.9, 7.10, 7.11 or 7.10 7.12(a) hereof shall occur, Agent may, with the consent of the Required Lenders, and shall, at the written request of the Required Lenders, give written notice to Borrowers Administrative Borrower to: (a) terminate the Commitment, if not previously terminated, and, immediately upon such election, the obligations of the Lenders, and each thereof, to make any further Loan, and the obligation of the Fronting Lender to issue any Letter of Credit, immediately shall be terminated; and/or (b) accelerate the maturity of all of the Obligations (if the Obligations are not already due and payable), whereupon all of the Obligations shall become and thereafter be immediately due and payable in full without any presentment or demand and without any further or other notice of any kind, all of which are hereby waived by each Borrower.

Appears in 2 contracts

Samples: Credit Agreement (Nn Inc), Credit Agreement (Nn Inc)

Optional Defaults. If any Event of Default referred to in Section 7.18.1, 7.28.2, 7.38.3, 7.48.4, 7.58.5, 7.68.6, 7.78.7, 7.88.8, 7.9 8.9, 8.10 or 7.10 8.11 hereof shall occur, the Agent may, with the consent of the Required Lenders, and shall, at the written request of the Required LendersLenders shall, give written notice to Borrowers the Borrower to: (a) terminate the Revolving Credit Commitment, if not previously terminated, and, immediately upon such election, the obligations of the Lenders, and each thereof, to make any further Loan, and the obligation of the Fronting Lender to issue any Letter of Credit, immediately shall be terminated; and/or (b) accelerate the maturity of all of the Obligations (if the Obligations are not already due and payable), whereupon all of the Obligations shall become and thereafter be immediately due and payable in full without any presentment or demand and without any further or other notice of any kind, all of which are hereby waived by each the Borrower.

Appears in 2 contracts

Samples: Credit and Security Agreement, Credit and Security Agreement (Kratos Defense & Security Solutions, Inc.)

Optional Defaults. If any Event of Default referred to in Section 7.1, 7.2, 7.3, 7.4, 7.5, 7.6, 7.7, 7.8, 7.9 7.9, 7.10, 7.11, 7.12 or 7.10 7.13 hereof shall occur, Agent may, with the consent of the Required Lenders, and shall, at the written request of the Required Lenders, give written notice to Borrowers to: (a) terminate the Commitment, if not previously terminated, and, immediately upon such election, the obligations of the Lenders, and each thereof, to make any further Loan, and the obligation of the Fronting Lender to issue any Letter of Credit, immediately shall be terminated; and/or (b) accelerate the maturity of all of the Obligations (if the Obligations are not already due and payable), whereupon all of the Obligations shall become and thereafter be immediately due and payable in full without any presentment or demand and without any further or other notice of any kind, all of which are hereby waived by each Borrower.

Appears in 2 contracts

Samples: Credit Agreement (Core Molding Technologies Inc), Credit Agreement (Core Molding Technologies Inc)

Optional Defaults. If any Event of Default referred to in Section 7.1, 7.2, 7.3, 7.4, 7.5, 7.6, 7.7, 7.8, 7.9 or 7.10 hereof shall occur, Agent may, with the consent of the Required Lenders, and shall, at the written request of the Required Lenders, give written notice to Borrowers Borrower, to: (a) terminate the Commitment, if not previously terminated, and, immediately upon such election, the obligations of the Lenders, and each thereof, to make any further Loan, Loan and the obligation of the Fronting Lender to issue any Letter of Credit, Credit immediately shall be terminated; , and/or (b) accelerate the maturity of all of the Obligations Debt (if the Obligations are Debt is not already due and payable), whereupon all of the Obligations Debt shall become and thereafter be immediately due and payable in full without any presentment or demand and without any further or other notice of any kind, all of which are hereby waived by each Borrower.

Appears in 2 contracts

Samples: Credit Agreement (Pioneer Standard Electronics Inc), Credit Agreement (Sykes Enterprises Inc)

Optional Defaults. If any Event of Default referred to in Section 7.1, 7.2, 7.3, 7.4, 7.5, 7.6, 7.7, 7.8, or 7.9 or 7.10 hereof shall occur, Agent may, with the consent of the Required Lenders, and shall, at the written request of the Required Lenders, give written notice to Borrowers Borrower, to: (a) terminate the Commitment, if not previously terminated, and, immediately upon such election, the obligations of the Lenders, and each thereof, to make any further Loan, Loan and the obligation of the Fronting Lender to issue any Letter of Credit, Credit immediately shall be terminated; and/or (b) accelerate the maturity of all of the Obligations (if the Obligations are not already due and payable), whereupon all of the Obligations shall become and thereafter be immediately due and payable in full without any presentment or demand and without any further or other notice of any kind, all of which are hereby waived by each Borrower.

Appears in 2 contracts

Samples: Credit Agreement (Cintas Corp), Credit Agreement (Cintas Corp)

Optional Defaults. If any Event of Default referred to in Section 7.18.1, 7.28.2, 7.38.3, 7.48.4, 7.58.5, 7.68.6, 7.78.7, 7.88.8, 7.9 8.9, 8.10 or 7.10 8.12 hereof shall occuroccur and be continuing, the Administrative Agent may, with the consent of the Required Lenders, and shall, at the written request of the Required Lenders, give written notice to the Borrowers to: (a) terminate the Commitment, if not previously terminated, and, immediately upon such election, the obligations of the Lenders, and each thereof, to make any further Loan, and the obligation of the Fronting Issuing Lender to issue any Letter of Credit, immediately shall be terminated; and/or (b) accelerate the maturity of all of the Obligations (if the Obligations are not already due and payable), whereupon all of the Obligations shall become and thereafter be immediately due and payable in full without any presentment or demand and without any further or other notice of any kind, all of which are hereby waived by each Borrower.

Appears in 1 contract

Samples: Credit and Security Agreement (AvidXchange Holdings, Inc.)

Optional Defaults. If any Event of Default referred to in Section 7.17.01, 7.2Section 7.02, 7.3Section 7.03, 7.4Section 7.04, 7.5Section 7.05, 7.6Section 7.06, 7.7Section 7.07, 7.8, 7.9 Section 7.08 or 7.10 Section 7.09 hereof shall occur, Agent may, with the consent of the Required Lenders, and shall, at the written request of the Required Lenders, give written notice to Borrowers Borrower, to: (a) terminate the CommitmentCommitment and the credits hereby established, if not previously terminated, and, immediately upon such election, the obligations of the Lenders, and each thereof, to make any further Loan, Loan and the obligation of the Fronting Lender Agent to issue make any Letter of Credit, Swing Loan hereunder immediately shall be terminated; , and/or (b) accelerate the maturity of all of the Obligations Debt (if the Obligations are Debt is not already due and payable), whereupon all of the Obligations Debt shall become and thereafter be immediately due and payable Table of Contents in full without any presentment or demand and without any further or other notice of any kind, all of which are hereby waived by each Borrower.

Appears in 1 contract

Samples: Credit Agreement (Steris Corp)

Optional Defaults. If any Event of Default referred to in Section 7.18.1, 7.28.2, 7.38.3, 7.48.4, 7.58.5, 7.68.6, 7.78.7, 7.88.8, 7.9 8.9 or 7.10 8.10 hereof shall occur, the Administrative Agent may, with the consent of the Required Lenders, and shall, at the written request of the Required Lenders, give written notice to the Borrowers to: (a) terminate the Commitment, if not previously terminated, and, immediately upon such election, the obligations of the Lenders, and each thereof, to make any further Loan, and the obligation of the Fronting Lender Issuing Lenders to issue any Letter of Credit, immediately shall be terminated; and/or (b) accelerate the maturity of all of the Obligations (if the Obligations are not already due and payable), whereupon all of the Obligations shall become and thereafter be immediately due and payable in full without any presentment or demand and without any further or other notice of any kind, all of which are hereby waived by each Borrower.

Appears in 1 contract

Samples: Credit and Security Agreement (DMC Global Inc.)

Optional Defaults. If any Event of Default referred to in Section 7.18.1, 7.28.2., 7.38.3, 7.48.4, 7.58.5, 7.68.6, 7.78.7, 7.88.8, 7.9 8.9 or 7.10 8.10 hereof shall occur, Agent maythe Required Banks shall have the right, with the consent in their discretion, by directing Agent, on behalf of the Required LendersBanks, and shall, at the written request of the Required Lenders, to give written notice to Borrowers Borrowers, to: (a) terminate the CommitmentCommitment and the credits hereby established, if not previously terminated, and, immediately upon such election, the obligations of the LendersBanks, and each thereof, to make any further Loan, Loan and the obligation of the Fronting Lender Agent to issue any Letter of Credit, Credit hereunder immediately shall be terminated; , and/or (b) accelerate the maturity of all of the Obligations Secured Debt (if the Obligations are Secured Debt is not already due and payable), whereupon all of the Obligations Secured Debt shall become and thereafter be immediately due and payable in full without any presentment or demand and without any further or other notice of any kind, all of which are hereby waived by each Borrower.

Appears in 1 contract

Samples: Credit and Security Agreement (Res Care Inc /Ky/)

Optional Defaults. If any Event of Default referred to in Section 7.1, 7.2, 7.3, 7.4, 7.5, 7.6, 7.7, 7.8, 7.9 or 7.10 hereof shall occur, Agent may, with the consent of the Required Lenders, and shall, at the written request of the Required Lenders, give written notice to Borrowers Administrative Borrower to: (a) terminate the Commitment, if not previously terminated, and, immediately upon such election, the obligations of the Lenders, and each thereof, to make any further Loan, Loan and the obligation of the Fronting Lender to issue any Letter of Credit, Credit immediately shall be terminated; and/or (b) accelerate the maturity of all of the Obligations (if the Obligations are not already due and payable), whereupon all of the Obligations shall become and thereafter be immediately due and payable in full without any presentment or demand and without any further or other notice of any kind, all of which are hereby waived by each Borrower.

Appears in 1 contract

Samples: Credit Agreement (Agilysys Inc)

Optional Defaults. If any Event of Default referred to in Section 7.17.01, 7.2Section 7.02, 7.3Section 7.03, 7.4Section 7.04, 7.5Section 7.05, 7.6Section 7.06, 7.7Section 7.07, 7.8Section 7.08, 7.9 or 7.10 Section 7.09 hereof shall occur, Agent may, with the consent of the Required Lenders, and shall, at the written request of the Required Lenders, give written notice to Borrowers Borrower, to: (a) terminate the CommitmentCommitment and the credits hereby established, if not previously terminated, and, immediately upon such election, the obligations of the Lenders, and each thereof, to make any further Loan, the obligation of Agent to make any Swing Loan, and the obligation of the Fronting Lender LC Issuer to issue any Letter of Credit, Credit hereunder immediately shall be terminated; , and/or (b) accelerate the maturity of all of the Obligations Debt (if the Obligations are Debt is not already due and payable), whereupon all of the Obligations Debt shall become and thereafter be immediately due and payable in full without any presentment or demand and without any further or other notice of any kind, all of which are hereby waived by each Borrower.

Appears in 1 contract

Samples: Credit Agreement (Steris Corp)

Optional Defaults. If any Event of Default referred to in Section 7.1, 7.2, 7.3, 7.4, 7.5, 7.6, 7.7, 7.8, 7.9 7.9, 7.10, 7.11 or 7.10 7.12 hereof shall occur, Agent may, with the consent of the Required Lenders, and shall, at the written request of the Required Lenders, give written notice to Borrowers to: (a) terminate the Commitment, if not previously terminated, and, immediately upon such election, the obligations of the Lenders, and each thereof, to make any further Loan, Loan and the obligation of the Fronting Lender to issue any Letter of Credit, Credit immediately shall be terminated; and/or (b) accelerate the maturity of all of the Obligations (if the Obligations are not already due and payable), whereupon all of the Obligations shall become and thereafter be immediately due and payable in full without any presentment or demand and without any further or other notice of any kind, all of which are hereby waived by each Borrower.

Appears in 1 contract

Samples: Credit Agreement (IHS Inc.)

Optional Defaults. If any Event of Default referred to in Section 7.1, 7.2, 7.3, 7.4, 7.5, 7.6, 7.7, 7.8, 7.8 or 7.9 or 7.10 hereof shall occur, Agent may, with the consent of the Required Lenders, and shall, at the written request of the Required Lenders, give written notice to Borrowers Borrower to: (a) terminate the Commitment, if not previously terminated, and, immediately upon such election, the obligations of the Lenders, and each thereof, to make any further Loan, Loan and the obligation of the Fronting Lender to issue any Letter of Credit, Credit immediately shall be terminated; and/or (b) accelerate the maturity of all of the Obligations (if the Obligations are not already due and payable), whereupon all of the Obligations shall become and thereafter be immediately due and payable in full without any presentment or demand and without any further or other notice of any kind, all of which are hereby waived by each Borrower.

Appears in 1 contract

Samples: Credit Agreement (Parametric Technology Corp)

Optional Defaults. If any Event of Default referred to in Section 7.18.1, 7.28.2, 7.38.3, 7.48.4, 7.58.5, 7.68.6, 7.78.7, 7.88.8, 7.9 8.9 or 7.10 8.10 hereof shall occuroccur and be continuing, the Administrative Agent may, with the consent of the Required Lenders, and shall, at the written request of the Required Lenders, give written notice to the Borrowers to: (a) terminate the Commitment, if not previously terminated, and, immediately upon such election, the obligations of the Lenders, and each thereof, to make any further Loan, and the obligation of the Fronting Issuing Lender to issue any Letter of Credit, immediately shall be terminated; and/or (b) accelerate the maturity of all of the Obligations (if the Obligations are not already due and payable), whereupon all of the Obligations shall become and thereafter be immediately due and payable in full without any presentment or demand and without any further or other notice of any kind, all of which are hereby waived by each Borrower.

Appears in 1 contract

Samples: Credit and Security Agreement (AvidXchange Holdings, Inc.)

Optional Defaults. If any Event of Default referred to in Section 7.18.1, 7.28.2, 7.38.3, 7.48.4, 7.58.5, 7.68.6, 7.78.7, 7.88.8, 7.9 8.9, 8.10 or 7.10 8.11 hereof shall occur, Agent may, with the consent of the Required Lenders, and shall, at the written request of the Required Lenders, give written notice to Borrowers Borrower to: (a) terminate the Commitment, if not previously terminated, and, immediately upon such election, the obligations of the Lenders, and each thereof, to make any further Loan, and the obligation of the Fronting Lender to issue any Letter of Credit, immediately shall be terminated; and/or (b) accelerate the maturity of all of the Obligations (if the Obligations are not already due and payable), whereupon all of the Obligations shall become and thereafter be immediately due and payable in full without any presentment or demand and without any further or other notice of any kind, all of which are hereby waived by each Borrower.

Appears in 1 contract

Samples: Credit and Security Agreement (Kratos Defense & Security Solutions, Inc.)

Optional Defaults. If any Event of Default referred to in Section 7.18.1, 7.28.2, 7.38.3, 7.48.4, 7.58.5, 7.68.6, 7.78.7, 7.88.8, 7.9 or 7.10 8.9, 8.10, 8.11, 8.12 and 8.13 hereof shall occur, Agent may, with the consent of the Required Lenders, and shall, at the written request of the Required Lenders, give written notice to Borrowers Borrower, to: (a) terminate the Commitment, if not previously terminated, and, immediately upon such election, the obligations of the Lenders, and each thereof, to make any further Loan, Loan and the obligation of the Fronting Lender to issue any Letter of Credit, Credit immediately shall be terminated; , and/or (b) accelerate the maturity of all of the Obligations Debt (if the Obligations are Debt is not already due and payable), whereupon all of the Obligations Debt shall become and thereafter be immediately due and payable in full without any presentment or demand and without any further or other notice of any kind, all of which are hereby waived by each Borrower.

Appears in 1 contract

Samples: Credit and Security Agreement (Shiloh Industries Inc)

Optional Defaults. If any Event of Default referred to in Section 7.1, 7.2., 7.3, 7.4, 7.5, 7.6, 7.7, 7.8, 7.9 7.9, 7.10 or 7.10 7.11 hereof shall occur, Agent may, with the consent of the Required LendersBanks, and shall, at the written request of the Required LendersBanks, give written notice to Borrowers Borrowers, to: (a) terminate the CommitmentCommitment and the credits hereby established, if not previously terminated, and, immediately upon such election, the obligations of the LendersBanks, and each thereof, to make any further Loan, Loan and the obligation of the any Fronting Lender Bank to issue any Letter of Credit, Credit immediately shall be terminated; , and/or (b) accelerate the maturity of all of the Obligations Debt (if the Obligations are Debt is not already due and payable), whereupon all of the Obligations Debt shall become and thereafter be immediately due and payable in full without any presentment or demand and without any further or other notice of any kind, all of which are hereby waived by each Borrower.

Appears in 1 contract

Samples: Credit Agreement (Schulman a Inc)

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Optional Defaults. If any Event of Default referred to in Section 7.18.1, 7.28.2, 7.38.3, 7.48.4, 7.58.5, 7.68.6, 7.78.7, 7.88.8, 7.9 8.9 or 7.10 8.10 hereof shall occur, the Administrative Agent may, with the consent of the Required Lenders, and shall, at the written request of the Required Lenders, give written notice to the Borrowers to: (a) terminate the Commitment, if not previously terminated, and, immediately upon such election, the obligations of the Lenders, and each thereof, to make any further Loan, and the obligation of the Fronting Issuing Lender to issue any Letter of Credit, immediately shall be terminated; and/or (b) accelerate the maturity of all of the Obligations (if the Obligations are not already due and payable), whereupon all of the Obligations shall become and thereafter be immediately due and payable in full without any presentment or demand and without any further or other notice of any kind, all of which are hereby waived waived, to the extent permitted by applicable Law, by each Borrower.

Appears in 1 contract

Samples: Credit and Security Agreement (Universal Logistics Holdings, Inc.)

Optional Defaults. If any Event of Default referred to in Section 7.18.1, 7.28.2, 7.38.3, 7.48.4, 7.58.5, 7.68.6, 7.78.7, 7.88.8, 7.9 8.9, 8.10, 8.11, 8.12 or 7.10 8.13 hereof shall occur, Agent may, with the consent of the Required Lenders, and shall, at the written request of the Required Lenders, give written notice to Borrowers Borrower to: (a) terminate the Commitment, if not previously terminated, and, immediately upon such election, the obligations of the Lenders, and each thereof, to make any further Loan, Loan and the obligation of the Fronting Lender to issue any Letter of Credit, Credit immediately shall be terminated; and/or (b) accelerate the maturity of all of the Obligations (if the Obligations are not already due and payable), whereupon all of the Obligations shall become and thereafter be immediately due and payable in full without any presentment or demand and without any further or other notice of any kind, all of which are hereby waived by each Borrower.

Appears in 1 contract

Samples: Credit and Security Agreement (Shiloh Industries Inc)

Optional Defaults. If any Event of Default referred to in Section 7.18.1, 7.28.2, 7.38.3, 7.48.4, 7.58.5, 7.68.6, 7.78.7, 7.88.8, 7.9 8.9 or 7.10 8.10 hereof shall occur, the Administrative Agent may, with the consent of the Required Lenders, and shall, at the written request of the Required Lenders, give written notice to the Borrowers to: : (a) terminate the Commitment, if not previously terminated, and, immediately upon such election, the obligations of the Lenders, and each thereof, to make any further Loan, and the obligation of the Fronting Lender Issuing Lenders to issue any Letter of Credit, immediately shall be terminated; and/or and/or (b) accelerate the maturity of all of the Obligations (if the Obligations are not already due and payable), whereupon all of the Obligations shall become and thereafter be immediately due and payable in full without any presentment or demand and without any further or other notice of any kind, all of which are hereby waived by each Borrower.

Appears in 1 contract

Samples: Credit and Security Agreement (DMC Global Inc.)

Optional Defaults. If any Event of Default referred to in Section 7.1, 7.2, 7.3, 7.4, 7.5, 7.6, 7.7, 7.8, 7.9 7.9, 7.10 or 7.10 7.11 hereof shall occur, Agent may, with the consent of the Required Lenders, and shall, at the written request of the Required Lenders, give written notice to Borrowers Borrower, to: (a) terminate the Commitment, if not previously terminated, and, immediately upon such election, the obligations of the Lenders, and each thereof, to make any further Loan, Loan and the obligation of the Fronting Lender to issue any Letter of Credit, Credit immediately shall be terminated; and/or (b) accelerate the maturity of all of the Obligations (if the Obligations are not already due and payable), whereupon all of the Obligations shall become and thereafter be immediately due and payable in full without any presentment or demand and without any further or other notice of any kind, all of which are hereby waived by each Borrower.

Appears in 1 contract

Samples: Credit Agreement (Schulman a Inc)

Optional Defaults. If any Event of Default referred to in Section 7.18.1, 7.28.2, 7.38.3, 7.48.4, 7.58.5, 7.68.6, 7.78.7, 7.88.8, 7.9 8.9 or 7.10 8.10 hereof shall occur, Agent may, with the consent of the Required Lenders, and shall, at the written request of the Required Lenders, give written notice to Borrowers Borrower to: (a) terminate the Commitment, if not previously terminated, and, immediately upon such election, the obligations of the Lenders, and each thereof, to make any further Loan, Loan and the obligation of the Fronting Lender to issue any Letter of Credit, Credit immediately shall be terminated; and/or (b) accelerate the maturity of all of the Obligations (if the Obligations are not already due and payable), whereupon all of the Obligations shall become and thereafter be immediately due and payable in full without any presentment or demand and without any further or other notice of any kind, all of which are hereby waived by each Borrower.

Appears in 1 contract

Samples: Credit and Security Agreement (Epiq Systems Inc)

Optional Defaults. If any Event of Default referred to in Section 7.18.1, 7.28.2, 7.38.3, 7.48.4, 7.58.5, 7.68.6, 7.78.7, 7.88.8, 7.9 8.9, 8.10 or 7.10 8.11 hereof shall occur, the Administrative Agent may, with the consent of the Required Lenders, and shall, at the written request of the Required Lenders, give written notice to Borrowers the Borrower to: (a) terminate the Commitment, if not previously terminated, and, immediately upon such election, the obligations of the Lenders, and each thereof, to make any further Loan, and the obligation of the Fronting Issuing Lender to issue any Letter of Credit, immediately shall be terminated; and/or (b) accelerate the maturity of all of the Obligations (if the Obligations are not already due and payable), whereupon all of the Obligations shall become and thereafter be immediately due and payable in full without any presentment or demand and without any further or other notice of any kind, all of which are hereby waived by each the Borrower.

Appears in 1 contract

Samples: Credit and Security Agreement (Bel Fuse Inc /Nj)

Optional Defaults. If any Event of Default referred to in Section 7.18.1, 7.28.2, 7.38.3, 7.48.4, 7.58.5, 7.68.6, 7.78.7, 7.88.8, 7.9 8.9, 8.10 or 7.10 8.11 hereof shall occur, the Administrative Agent may, with the consent of the Required Lenders, and shall, at the written request of the Required Lenders, give written notice to the Borrowers to: (a) terminate the Commitment, if not previously terminated, and, immediately upon such election, the obligations of the Lenders, and each thereof, to make any further Loan, and the obligation of the Fronting Issuing Lender to issue any Letter of Credit, immediately shall be terminated; and/or (b) accelerate the maturity of all of the Obligations (if the Obligations are not already due and payable), whereupon all of the Obligations shall become and thereafter be immediately due and payable in full without any presentment or demand and without any further or other notice of any kind, all of which are hereby waived waived, to the extent permitted by applicable Law, by each Borrower.

Appears in 1 contract

Samples: Credit and Security Agreement (Universal Logistics Holdings, Inc.)

Optional Defaults. If any Event of Default referred to in Section 7.1, 7.2, 7.3, 7.4, 7.5, 7.6, 7.7, 7.8, 7.8 or 7.9 or 7.10 hereof shall occur, Agent may, with the consent of the Required Lenders, and shall, at the written request of the Required Lenders, give written notice to Borrowers Borrowers, to: (a) terminate the Commitment, if not previously terminated, and, immediately upon such election, the obligations of the Lenders, and each thereof, to make any further Loan, Loan and the obligation of the Fronting Lender to issue any Letter of Credit, Credit immediately shall be terminated; , and/or (b) accelerate the maturity of all of the Obligations (if the Obligations are not already due and payable), whereupon all of the Obligations shall become and thereafter be immediately due and payable in full without any presentment or demand and without any further or other notice of any kind, all of which are hereby waived by each Borrower.

Appears in 1 contract

Samples: Credit Agreement (Smucker J M Co)

Optional Defaults. If any Event of Default referred to in Section 7.1, 7.2, 7.3, 7.4, 7.5, 7.6, 7.7, 7.8, 7.9 7.9, 7.10 or 7.10 7.11 hereof shall occur, Agent may, with the consent of the Required Lenders, and shall, at the written request of the Required Lenders, give written notice to Borrowers Borrowers, to: (a) terminate the CommitmentCommitment hereby established, if not previously terminated, and, immediately upon such election, the obligations of the Lenders, and each thereof, to make any further Loan, Loan and the obligation of the Fronting Lender to issue any Letter of Credit, Credit immediately shall be terminated; , and/or (b) accelerate the maturity of all of the Obligations Debt (if the Obligations are Debt is not already due and payable), whereupon all of the Obligations Debt shall become and thereafter be immediately due and payable in full without any presentment or demand and without any further or other notice of any kind, all of which are hereby waived by each Borrower.

Appears in 1 contract

Samples: Credit Agreement (Cooper Companies Inc)

Optional Defaults. If any Event of Default referred to in Section 7.18.1, 7.28.2, 7.38.3, 7.48.4, 7.58.5, 7.68.6, 7.78.7, 7.88.8, 7.9 8.9, 8.10 or 7.10 8.11 hereof shall occur, the Administrative Agent may, with the consent of the Required Lenders, and shall, at the written request of the Required Lenders, give written notice to Borrowers the Borrower to: (a) a. terminate the Commitment, if not previously terminated, and, immediately upon such election, the obligations of the Lenders, and each thereof, to make any further Loan, and the obligation of the Fronting Issuing Lender to issue any Letter of Credit, immediately shall be terminated; and/or (b) b. accelerate the maturity of all of the Obligations (if the Obligations are not already due and payable), whereupon all of the Obligations shall become and thereafter be immediately due and payable in full without any presentment or demand and without any further or other notice of any kind, all of which are hereby waived by each the Borrower.

Appears in 1 contract

Samples: Credit and Security Agreement (Bel Fuse Inc /Nj)

Optional Defaults. If any Event of Default referred to in Section 7.1, 7.2, 7.3, 7.4, 7.5, 7.6, 7.7, 7.8, 7.9 7.9, 7.10, 7.11 or 7.10 7.12 hereof shall occur, Agent may, with the consent of the Required Lenders, and shall, at the written request of the Required Lenders, give written notice to Borrowers Borrower, to: (a) terminate the Commitment, if not previously terminated, and, immediately upon such election, the obligations of the Lenders, and each thereof, to make any further Loan, Loan and the obligation of the Fronting Lender to issue any Letter of Credit, Credit immediately shall be terminated; and/or (b) accelerate the maturity of all of the Obligations (if the Obligations are not already due and payable), whereupon all of the Obligations shall become and thereafter be immediately due and payable in full without any presentment or demand and without any further or other notice of any kind, all of which are hereby waived by each Borrower.

Appears in 1 contract

Samples: Credit Agreement (Teletech Holdings Inc)

Optional Defaults. If any Event of Default referred to in Section 7.1, 7.2, 7.3, 7.4, 7.5, 7.6, 7.7, 7.8, 7.9 7.9, 7.10 or 7.10 7.11 hereof shall occur, Agent may, with the consent of the Required Lenders, and shall, at the written request of the Required Lenders, give written notice to Borrowers to: (a) terminate the Commitment, if not previously terminated, and, immediately upon such election, the obligations of the Lenders, and each thereof, to make any further Loan, Loan and the obligation of the Fronting Lender to issue any Letter of Credit, Credit immediately shall be terminated; and/or (b) accelerate the maturity of all of the Obligations (if the Obligations are not already due and payable), whereupon all of the Obligations shall become and thereafter be immediately due and payable in full without any presentment or demand and without any further or other notice of any kind, all of which are hereby waived by each Borrower.

Appears in 1 contract

Samples: Credit Agreement (IHS Inc.)

Optional Defaults. If any Event of Default referred to in Section 7.1, 7.2, 7.3, 7.4, 7.5, 7.6, 7.7, 7.8, 7.8 or 7.9 or 7.10 hereof shall occur, Agent may, with the consent of the Required Lenders, and shall, at the written request of the Required LendersBanks, give written notice to Borrowers Borrowers, to: (a) terminate the CommitmentCommitment and the credits hereby established, if not previously terminated, and, immediately upon such election, the obligations of the LendersBanks, and each thereof, to make any further Loan, Loan and the obligation of the Fronting Lender Bank to issue any Letter of Credit, Credit hereunder immediately shall be terminated; , and/or (b) accelerate the maturity of all of the Obligations Debt (if the Obligations are Debt is not already due and payable), whereupon all of the Obligations Debt shall become and thereafter be immediately due and payable in full without any presentment or demand and without any further or other notice of any kind, all of which are hereby waived by each BorrowerBorrowers.

Appears in 1 contract

Samples: Credit Agreement (Cedar Fair L P)

Optional Defaults. If any Event of Default referred to in Section 7.1, 7.2, 7.3, 7.4, 7.5, 7.6, 7.7, 7.8, 7.9 or 7.10 hereof shall occur, Agent may, with the consent of the Required Lenders, and shall, at the written request of the Required Lenders, give written notice to Borrowers Borrower to: (a) terminate the Commitment, if not previously terminated, and, immediately upon such election, the obligations of the Lenders, and each thereof, to make any further Loan, Loan and the obligation of the Fronting Lender to issue any Letter of Credit, Credit immediately shall be terminated; and/or (b) accelerate the maturity of all of the Obligations (if the Obligations are not already due and payable), whereupon all of the Obligations shall become and thereafter be immediately due and payable in full without any presentment or demand and without any further or other notice of any kind, all of which are hereby waived by each Borrower.

Appears in 1 contract

Samples: Credit Agreement (Sykes Enterprises Inc)

Optional Defaults. If any Event of Default referred to in Section 7.18.1, 7.28.2, 7.38.3, 7.48.4, 7.58.5, 7.68.6, 7.78.7, 7.88.8, 7.9 8.9 or 7.10 8.10 hereof shall occur, Agent may, with the consent of the Required LendersBanks, and shall, at the written request of the Required LendersBanks, give written notice to Borrowers Borrowers, to: (a) terminate the CommitmentCommitments, if not previously terminated, and, immediately upon such election, the obligations of the LendersBanks, and each thereof, to make any further Loan, and the obligation of Loan nor shall the Fronting Lender Bank be obligated to issue any Letter of Credit, immediately shall be terminated; and/or (b) accelerate the maturity of all of the Obligations Debt (if the Obligations are Debt is not already due and payable), whereupon all of the Obligations Debt shall become and thereafter be immediately due and payable in full without any presentment or demand and without any further or other notice of any kind, all of which are hereby waived by each BorrowerBorrowers.

Appears in 1 contract

Samples: Credit and Security Agreement (MTC Technologies Inc)

Optional Defaults. If any Event of Default referred to in Section 7.18.1, 7.28.2, 7.38.3, 7.48.4, 7.58.5, 7.68.6, 7.78.7, 7.88.8, 7.9 8.9, or 7.10 8.10 hereof shall occur, Agent may, with the consent of the Required Lenders, and shall, at the written request of the Required Lenders, give written notice to Borrowers Borrower, to: (a) terminate the Commitment, if not previously terminated, and, immediately upon such election, the obligations of the Lenders, and each thereof, to make any further Loan, Loan and the obligation of the Fronting Lender to issue any Letter of Credit, Credit immediately shall be terminated; and/or (b) accelerate the maturity of all of the Obligations (if the Obligations are not already due and payable), whereupon all of the Obligations shall become and thereafter be immediately due and payable in full without any presentment or demand and without any further or other notice of any kind, all of which are hereby waived by each Borrower.

Appears in 1 contract

Samples: Credit and Security Agreement (Epiq Systems Inc)

Optional Defaults. If any Event of Default referred to in Section 7.18.1, 7.28.2, 7.38.3, 7.48.4, 7.58.5, 7.68.6, 7.78.7, 7.88.8, 7.9 8.9, 8.10 or 7.10 8.11(a) hereof shall occur, the Administrative Agent may, with the consent of the Required Lenders, and shall, at the written request of the Required Lenders, give written notice to Borrowers the Borrower to: (a) terminate the Commitment, if not previously terminated, and, immediately upon such election, the obligations of the Lenders, and each thereof, to make any further Loan, and the obligation of the Fronting Lender to issue any Letter of Credit, immediately shall be terminated; and/or (b) accelerate the maturity of all of the Obligations (if the Obligations are not already due and payable), whereupon all of the Obligations shall become and thereafter be immediately due and payable in full without any presentment or demand and without any further or other notice of any kind, all of which are hereby waived by each the Borrower.

Appears in 1 contract

Samples: Credit and Security Agreement (Ignite Restaurant Group, Inc.)

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