Common use of Optional Defaults Clause in Contracts

Optional Defaults. If any Event of Default referred to in Sections 10.01, 10.02, 10.03, 10.04, 10.05, 10.06, 10.07 (a), (b), (c) or (d) or (h) (solely as such clause (h) relates to Section 10.07(a), (b), (c) or (d)), 10.08, 10.09, 10.10 (other than an Event of Default (as defined in the Guaranty) under Section 10(g) or 10(h) of the Guaranty), 10.11 and/or 10.12 hereof shall occur, the Required Banks shall have the right in their discretion, by directing the Agent, on behalf of the Banks, to give written notice to the Borrower, and to (a) terminate the Commitments and the credits hereby established and any Letter of Credit which may be terminated in accordance with its terms, in each case, if not theretofore terminated, and forthwith upon such election the obligations of the Banks, and each thereof, to make any further Loan or Loans and/or issue further Letters of Credit immediately shall be terminated, and/or (b) accelerate the maturity of all of Borrower’s Debt to the Banks (if it is not already due and payable), whereupon all of Borrower’s Debt to the Banks 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 the Borrower.

Optional Defaults. If any Event of Default referred to in Sections 10.01, 10.0210.02(a), 10.02(b), 10.03, 10.04, 10.05, 10.06, 10.07 (aother than Section 10.07 (e), (bf), (c) or (dg) or (h) (solely as such clause (h) it relates to Section 10.07(a), (b), (c) or (d)), ) and/or Section 10.08, 10.09, 10.10 (other than an Event of Default (as defined in the Guaranty) under Section 10(g) or 10(h) of the Guaranty), ) or 10.11 and/or 10.12 hereof shall occur, the Required Banks shall have the right in their discretion, by directing the Agent, on behalf of the Banks, to give written notice to the Borrower, and to (a) terminate the Commitments and the credits hereby established and any Letter letter of Credit credit which may be terminated in accordance with its terms, in each case, if not theretofore terminated, and forthwith upon such election the obligations of the Banks, and each thereof, to make any further Loan or Loans and/or issue further Letters letters of Credit credit hereunder immediately shall be terminated, and/or (b) accelerate the maturity of all of Borrower’s Debt to the Banks (if it is not already due and payable), whereupon all of Borrower’s Debt to the Banks 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 the Borrower.

Optional Defaults. If any Event of Default referred to in Sections 10.01, 10.0210.02(a), 10.02(b), 10.03, 10.04, 10.05, 10.06, 10.07 (aother than Section 10.07 (e), (bf), (c) or (dg) or (h) (solely as such clause (h) it relates to Section 10.07(a), (b), (c) or (d)), ) and/or Section 10.08, 10.09, 10.10 (other than an Event of Default (as defined in the Guaranty) under Section 10(g) or 10(h) of the Guaranty), ) or 10.11 and/or 10.12 hereof shall occur, the Required Banks shall have the right in their discretion, by directing the Agent, on behalf of the Banks, to give written notice to the Borrower, and to (a) terminate the Commitments and the credits hereby established and any Letter letter of Credit credit which may be terminated in accordance with its terms, in each case, if not theretofore terminated, and forthwith upon such election the obligations of the Banks, and each thereof, to make any further Loan or Loans and/or issue further Letters letters of Credit credit hereunder immediately shall be terminated, and/or (b) accelerate the maturity of all of Borrower’s 's Debt to the Banks (if it is not already due and payable), whereupon all of Borrower’s 's Debt to the Banks 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 the Borrower.

Optional Defaults. If any Event of Default referred to in Sections 10.01, 10.0210.02(a), 10.02(b), 10.03, 10.04, 10.05, 10.06, 10.07 (aother than (e), (b), (cf) or (dg) or (hthereof) (solely as such clause (h) relates to Section 10.07(a), (b), (c) or (d)), and/or 10.08, . 10.09, 10.10 (other than an Event of Default (as defined in the Guaranty) under Section 10(g) or 10(h) of the Guaranty), 10.11 and/or 10.12 hereof shall occur, the Required Banks shall have the right in their discretion, by directing the Agent, on behalf of the Banks, to give written notice to the Borrower, and to (a) terminate the Commitments and the credits hereby established and any Letter letter of Credit credit which may be terminated in accordance with its terms, in each case, if not theretofore terminated, and forthwith upon such election the obligations of the Banks, and each thereof, to make any further Loan or Loans and/or issue further Letters letters of Credit credit hereunder immediately shall be terminated, and/or (b) accelerate the maturity of all of Borrower’s 's Debt to the Banks (if it is be not already due and payable), whereupon all of Borrower’s 's Debt to the Banks 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 the Borrower.

Optional Defaults. If any Event of Default referred to in Sections 10.01, 10.0210.02(a), 10.02(b), 10.03, 10.04, 10.05, 10.06, 10.07 (aother than Section 10.07 (e), (bf), (c) or (dg) or (h) (solely as such clause (h) it relates to Section 10.07(a), (b), (c) or (d)), ) and/or Section 10.08, 10.09, 10.10 (other than an Event of Default (as defined in the Guaranty) under Section 10(g10(f) or 10(h10(g) of the Guaranty), ) or 10.11 and/or 10.12 hereof shall occur, the Required Banks shall have the right in their discretion, by directing the Agent, on behalf of the Banks, to give written notice to the Borrower, and to (a) terminate the Commitments and the credits hereby established and any Letter letter of Credit credit which may be terminated in accordance with its terms, in each case, if not theretofore terminated, and forthwith upon such election the obligations of the Banks, and each thereof, to make any further Loan or Loans and/or issue further Letters letters of Credit credit hereunder immediately shall be terminated, and/or (b) accelerate the maturity of all of Borrower’s 's Debt to the Banks (if it is be not already due and payable), whereupon all of Borrower’s 's Debt to the Banks 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 the Borrower.