Common use of Optional Defaults Clause in Contracts

Optional Defaults. If any Event of Default referred to in Section 8.1, 8.2, 8.3, 8.4, 8.5, 8.6, 8.7, 8.8, 8.9, 8.10 or 8.11 hereof shall occur, Lender shall have the right, in its discretion, to give written notice to Borrowers to: (a) terminate the Commitment, if not previously terminated, and, immediately upon such election, the obligation of Lender to make any further Loan or 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.

Optional Defaults. If any Event of Default referred to in Section 8.1, 8.2, 8.3, 8.4, 8.5, 8.6, 8.7, 8.8, 8.9, 8.10 or 8.11 hereof shall occuroccur and be continuing, Lender shall have the right, in its discretion, to give written notice to Borrowers Borrower to: (a) terminate the Commitment, if not previously terminated, and, immediately upon such election, the obligation of Lender to make any further Loan or 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.

Optional Defaults. If any Event of Default referred to in Section 8.17.1, 8.27.2, 8.37.3, 8.47.4, 8.57.5, 8.67.6, 8.77.7, 8.87.8, 8.97.9, 8.10 7.10 or 8.11 7.11 hereof shall occur, Lender shall have Agent may, with the rightconsent of the Required Lenders, in its discretionand shall, to 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 obligation obligations of Lender the Lenders, and each thereof, to make any further Loan or 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.

Optional Defaults. If any Event of Default referred to in Section 8.17.1, 8.27.2, 8.37.3, 8.47.4, 8.57.5, 8.67.6, 8.77.7, 8.87.8, 8.97.9, 8.10 7.10 or 8.11 7.11 hereof shall occur, Lender shall have the right, in its discretion, to give written notice to Borrowers Borrower to: (a) terminate the Commitment, if not previously terminated, and, immediately upon such election, the obligation of Lender to make any further Loan or 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.

Optional Defaults. If any Event of Default referred to in Section 8.1, 8.2, 8.3, 8.4, 8.5, 8.6, 8.7, 8.8, 8.9, 8.9 or 8.10 or 8.11 hereof shall occur, Lender shall have Agent may, with the rightconsent of the Required Banks, in its discretionand shall, to at the request of the Required Banks, give written notice to Borrowers Borrowers, to: (a) terminate the Commitment, if not previously terminated, and, immediately upon such election, the obligation obligations of Lender the Banks, and each thereof, to make any further Loan or to issue any Letter of Credit immediately shall be terminated; Loan, 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.