Common use of Optional Clause in Contracts

Optional. If any other Event of Default shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1) declare (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account and (C) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2) terminate the Commitments and the Swingline Commitment and the obligation of the Issuing Banks to issue Letters of Credit hereunder.

Appears in 38 contracts

Samples: Credit Agreement (Regency Centers Lp), Amendment No. 1 to Amended and Restated Credit Agreement (American Homes 4 Rent, L.P.), Credit Agreement (Office Properties Income Trust)

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Optional. If any other Event of Default shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1) declare (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account and (C) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2) terminate the Commitments and the Swingline Commitment and the obligation of the Issuing Banks Bank to issue Letters of Credit hereunder.

Appears in 18 contracts

Samples: Credit Agreement (Federal Realty OP LP), Revolving Credit and Term Loan Agreement (Broadstone Net Lease, Inc.), Credit Agreement (Federal Realty Investment Trust)

Optional. If any other Event of Default shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1) declare (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to 103% of the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account and (C) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2) terminate the Commitments and the Swingline Commitment and the obligation of the Issuing Banks to issue Letters of Credit hereunder.

Appears in 8 contracts

Samples: Credit Agreement (NETSTREIT Corp.), Credit Agreement (NETSTREIT Corp.), Credit Agreement (NETSTREIT Corp.)

Optional. If any other Event of Default shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1) declare (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account and (C) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2) terminate the Commitments and the Swingline Commitment and the obligation of the Issuing Banks to issue Letters of Credit hereunder.

Appears in 8 contracts

Samples: Credit Agreement (UDR, Inc.), Credit Agreement (Elme Communities), Credit Agreement (American Homes 4 Rent, L.P.)

Optional. If any other Event of Default shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1) declare (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account Account, and (C) all of the other non-contingent Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2) terminate the Commitments and the Swingline Commitment and the obligation of the Issuing Banks Bank to issue Letters of Credit hereunder.

Appears in 6 contracts

Samples: Fifth Amended and Restated Credit Agreement (LGI Homes, Inc.), Credit Agreement (LGI Homes, Inc.), Second Amendment to Fifth Amended and Restated Credit Agreement (LGI Homes, Inc.)

Optional. If any other Event of Default shall exist, the Administrative Agent mayshall, and at the direction of the Requisite Lenders shallLenders: (1A) declare (A1) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B2) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such other Event of Default for deposit into the Letter of Credit Collateral Account pursuant to Section 10.5. and (C3) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2B) terminate the Commitments and Commitments, the Swingline Commitment and the obligation of the Issuing Banks Lenders to make Loans hereunder and the obligation of the Agent to issue Letters of Credit hereunder.

Appears in 5 contracts

Samples: Credit Agreement (Corporate Office Properties Trust), Credit Agreement (Corporate Office Properties Trust), Credit Agreement (UDR, Inc.)

Optional. If any other Event of Default shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1) declare (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account and (C) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2) terminate the Commitments and the Swingline Commitment and the obligation of the Issuing Banks Bank to issue Letters of Credit hereunder.

Appears in 4 contracts

Samples: Revolving Credit Agreement (Ps Business Parks, Inc./Md), Revolving Credit Agreement (Ps Business Parks Inc/Ca), Revolving Credit Agreement (Ps Business Parks Inc/Ca)

Optional. If any other Event of Default shall exist, the Administrative Agent may, may (unless otherwise directed by Requisite Lenders) and at the direction of the Requisite Lenders shall: (1) declare declare, by written notice to the Borrower, (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account Account, and (C) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2) terminate the Commitments and the Swingline Commitment and the obligation of the Issuing Banks Bank to issue Letters of Credit hereunder.

Appears in 4 contracts

Samples: Credit Agreement (Hudson Pacific Properties, L.P.), Credit Agreement (Hudson Pacific Properties, L.P.), Credit Agreement (Hudson Pacific Properties, Inc.)

Optional. If any other Event of Default shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1) declare (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account Account, and (C) all of the other non-contingent Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2) terminate the Commitments and the Swingline Commitment and the obligation of the Issuing Banks Bank to issue Letters of Credit hereunder.

Appears in 3 contracts

Samples: Credit Agreement (LGI Homes, Inc.), Credit Agreement (LGI Homes, Inc.), Credit Agreement (LGI Homes, Inc.)

Optional. If any other Event of Default shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1) declare (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account and (C) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Parent and the Borrower on behalf of itself themselves and the other Loan Parties, and (2) terminate the Commitments and the Swingline Commitment and the obligation of the Issuing Banks Bank to issue Letters of Credit hereunder.

Appears in 3 contracts

Samples: Credit Agreement (Parkway Properties Inc), Credit Agreement (Parkway Properties Inc), Credit Agreement (Parkway Properties Inc)

Optional. If any other Event of Default shall exist, the Administrative Agent mayshall, and at the direction of the Requisite Lenders shallLenders: (1A) declare (A1) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B2) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such other Event of Default for deposit into the Letter of Credit Collateral Account pursuant to Section 10.5. and (C3) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2B) terminate the Commitments and Commitments, the Swingline Commitment and the obligation of the Issuing Banks Lenders to make Loans hereunder and the obligation of the Administrative Agent to issue Letters of Credit hereunder.

Appears in 3 contracts

Samples: Credit Agreement (Corporate Office Properties Trust), Credit Agreement (Corporate Office Properties, L.P.), Credit Agreement (Corporate Office Properties, L.P.)

Optional. If any other Event of Default shall existhave occurred and be continuing, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1A) declare (A1) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B2) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account Account, and (C3) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2B) terminate the Commitments and Commitments, the Swingline Commitment obligation of the Lenders to make Loans hereunder, and the obligation of the Issuing Banks to issue Letters of Credit hereunder.

Appears in 3 contracts

Samples: First Lien Credit Agreement (Pennsylvania Real Estate Investment Trust), First Lien Credit Agreement (Pennsylvania Real Estate Investment Trust), First Lien Credit Agreement (Pennsylvania Real Estate Investment Trust)

Optional. If any other Event of Default shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1) declare (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account pursuant to Section 11.6. and (C) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Parent and the Borrower on behalf of itself themselves and the other Loan Parties, and (2) terminate the Commitments and the Swingline Commitment and the obligation of the Issuing Banks Bank to issue Letters of Credit hereunder.

Appears in 3 contracts

Samples: Credit Agreement (Excel Trust, Inc.), Credit Agreement (Pacific Office Properties Trust, Inc.), Credit Agreement (Excel Trust, Inc.)

Optional. If any other Event of Default shall exist, the Administrative Agent mayshall, and at the direction of the Requisite Lenders shallLenders: (1A) declare (A1) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B2) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such other Event of Default for deposit into the Letter of Credit Collateral Account pursuant to Section 11.5. and (C3) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2B) terminate the Commitments and Commitments, the Swingline Commitment Commitment, the obligation of the Lenders to make Loans hereunder and the obligation of the Issuing Banks Agent to issue Letters of Credit hereunder.

Appears in 3 contracts

Samples: Credit Agreement (Government Properties Trust Inc), Credit Agreement (U-Store-It Trust), Credit Agreement (U-Store-It Trust)

Optional. If any other Event of Default shall exist, the Administrative Agent mayAgent, and at the direction of the Requisite Lenders Lenders, shall: (1) declare (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account and (C) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by each of the Borrower Borrowers on behalf of itself and the other Loan Parties, and (2) terminate the Revolving Commitments and the Swingline Commitment and the obligation of the Issuing Banks to issue Letters of Credit hereunder.

Appears in 3 contracts

Samples: Credit Agreement (General Growth Properties, Inc.), Credit Agreement (General Growth Properties, Inc.), Credit Agreement (General Growth Properties, Inc.)

Optional. If any other Event of Default shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1) declare (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account Account, and (C) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Partieseach Borrower, and (2) terminate the Commitments and the Swingline Commitment and the obligation of the Issuing Banks Bank to issue Letters of Credit hereunder.

Appears in 3 contracts

Samples: Credit Agreement (United Homes Group, Inc.), Credit Agreement (United Homes Group, Inc.), Credit Agreement (United Homes Group, Inc.)

Optional. If any other Event of Default shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1) declare (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account and (C) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2) terminate the Commitments and the Swingline Commitment and the obligation of the Issuing Banks to issue Letters of Credit hereunder.. ​

Appears in 3 contracts

Samples: Credit Agreement (Sunstone Hotel Investors, Inc.), Credit Agreement (Sunstone Hotel Investors, Inc.), Credit Agreement (Sunstone Hotel Investors, Inc.)

Optional. If any other Event of Default shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1A) declare (A1) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B2) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account pursuant to Section 11.5. and (C3) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2B) terminate the Commitments and the Swingline Commitment and the obligation of the Issuing Banks to issue Letters of Credit hereunder.

Appears in 3 contracts

Samples: Credit Agreement (DiamondRock Hospitality Co), Credit Agreement (DiamondRock Hospitality Co), Credit Agreement (DiamondRock Hospitality Co)

Optional. If any other Event of Default shall exist, the Administrative Agent mayAgent, and at the direction of the Requisite Lenders Lenders, shall: (1) declare (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account and (C) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan PartiesBorrower, and (2) terminate the Commitments and the Swingline Commitment and the obligation of the Lenders to make Loans hereunder and the obligation of the Issuing Banks Bank to issue Letters of Credit hereunder.

Appears in 3 contracts

Samples: Credit Agreement (Washington Real Estate Investment Trust), Credit Agreement (Washington Real Estate Investment Trust), Credit Agreement (Washington Real Estate Investment Trust)

Optional. If any other Event of Default shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1) declare (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account and (C) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2) terminate the Revolving Commitments and the Swingline Commitment and the obligation of the Issuing Banks Bank to issue Letters of Credit hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Broadstone Net Lease Inc), Credit Agreement (Broadstone Net Lease Inc)

Optional. If any other Event of Default shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1) declare (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account and (C) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2) terminate the Commitments and the Swingline Commitment Commitments and the obligation of the Issuing Banks to issue Letters of Credit hereunder.

Appears in 2 contracts

Samples: Credit Agreement (United Dominion Realty L P), Credit Agreement (United Dominion Realty L P)

Optional. If While any other Event of Default shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1) declare (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account and (C) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Parent and the Borrower on behalf of itself themselves and the other Loan Parties, and (2) terminate the Commitments and the Swingline Commitment and the obligation of the Issuing Banks Bank to issue Letters of Credit hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Equity Lifestyle Properties Inc), Credit Agreement (Equity Lifestyle Properties Inc)

Optional. If any other Event of Default shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1) declare (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account and (C) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2) terminate the Revolving Commitments and the Swingline Commitment and the obligation of the Issuing Banks to issue Letters of Credit hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Realty Income Corp), Credit Agreement (Realty Income Corp)

Optional. If any other Event of Default shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1A) declare (A1) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B2) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account pursuant to Section 11.5. and (C3) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2) terminate the Commitments and the Swingline Commitment and the obligation of the Issuing Banks to issue Letters of Credit hereunder.and

Appears in 2 contracts

Samples: Credit Agreement (DiamondRock Hospitality Co), Credit Agreement (DiamondRock Hospitality Co)

Optional. If any other Event of Default other than as specified in subsections 11.1(e) or 11.1(f) shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1) declare (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account Account, and (C) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2) terminate the Commitments and the Swingline Commitment Commitment, and the obligation of the Issuing Banks Bank to issue Letters of Credit hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Equity One, Inc.), Credit Agreement (Equity One, Inc.)

Optional. If any other Event of Default shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1) declare (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account and (C) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower Borrowers on behalf of itself and the other Loan Parties, and (2) terminate the Commitments and the Swingline Commitment and the obligation of the Issuing Banks Bank to issue Letters of Credit hereunder.

Appears in 2 contracts

Samples: Credit Agreement (American Realty Capital Properties, Inc.), Credit Agreement (CapLease, Inc.)

Optional. If While any other Event of Default shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1) declare (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account and (C) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Parent and the Borrower on behalf of itself themselves and the other Loan Parties, and (2) terminate the Commitments and the Swingline Commitment and the obligation of the each Issuing Banks Bank to issue Letters of Credit hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Equity Lifestyle Properties Inc), Credit Agreement (Equity Lifestyle Properties Inc)

Optional. If any other Event of Default shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1) declare (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account Account, and (C) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2) terminate the Commitments and the Swingline Commitment and the obligation of the Issuing Banks Bank to issue Letters of Credit hereunder.

Appears in 2 contracts

Samples: Credit Agreement (CBL & Associates Properties Inc), Credit Agreement (CBL & Associates Properties Inc)

Optional. If any other Event of Default shall existhave occurred and be continuing, the Requisite Lenders may direct the Administrative Agent mayto, and at the direction of the Requisite Lenders Administrative Agent if so directed shall: (1A) declare (A1) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B2) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such the Event of Default for deposit into the Letter of Credit Collateral Account and (C3) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2B) terminate the Commitments Commitments, the Revolving Credit Facility and the Swingline Commitment and the obligation of the Issuing Banks to issue Letters Letter of Credit hereunderFacility.

Appears in 2 contracts

Samples: Credit Agreement (Shaw Industries Inc), Credit Agreement (Asa Holdings Inc)

Optional. If any other Event of Default shall existexist and be continuing, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1) declare (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account Account, and (C) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2) terminate the Commitments and the Swingline Commitment and the obligation of the Issuing Banks Bank to issue Letters of Credit hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Smith Douglas Homes Corp.), Credit Agreement (Smith Douglas Homes Corp.)

Optional. If any other Event of Default shall exist, the Administrative Agent mayshall, and at the direction of the Requisite Lenders shallLenders: (1A) declare (A1) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B2) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such other Event of Default for deposit into the Letter of Credit Collateral Account pursuant to Section 11.5. and (C3) all of the other ObligationsObligations (other than obligations in respect of Swap Agreements and Treasury Management Services Agreement), including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, Borrowers and (2B) terminate the Commitments and Commitments, the Swingline Commitment obligation of the Lenders to make Loans hereunder and the obligation of the Issuing Banks Agent to issue Letters of Credit hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Morgans Hotel Group Co.), Credit Agreement (Morgans Hotel Group Co.)

Optional. If any other Event of Default shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1) declare (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account and (C) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Partieseach Borrower, and (2) terminate the Commitments and the Swingline Commitment and the obligation of the Issuing Banks Bank to issue Letters of Credit hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Sl Green Operating Partnership, L.P.), Credit Agreement (Sl Green Operating Partnership, L.P.)

Optional. If any other Event of Default shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1) declare (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such other Event of Default for deposit into the Letter of Credit Collateral Account pursuant to Section 10.5. and (C) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders Lenders, the Issuing Bank and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan PartiesBorrower, and (2) terminate the Commitments and the Swingline Commitment obligation of the Lenders to make Loans hereunder and the obligation of the Issuing Banks Bank to issue Letters of Credit hereunder.

Appears in 2 contracts

Samples: Credit Agreement (National Retail Properties, Inc.), Credit Agreement (National Retail Properties, Inc.)

Optional. If any other Event of Default shall exist, the Administrative Agent mayshall, and at the direction of the Requisite Lenders shallLenders: (1A) declare (A1) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B2) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such other Event of Default for deposit into the Letter of Credit Collateral Account pursuant to Section 10.4. and (C3) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2B) terminate the Commitments and Commitments, the Swingline Commitment Commitment, the obligation of the Lenders to make Loans hereunder and the obligation of the Issuing Banks Agent to issue Letters of Credit hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Sl Green Realty Corp), Credit Agreement (Sl Green Realty Corp)

Optional. If any other Event of Default shall exist, the Administrative Agent mayshall, and at the direction of the Requisite Lenders shallLenders: (1A) declare (A1) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B2) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such other Event of Default for deposit into the Letter of Credit Collateral Account pursuant to Section 10.5. and (C3) all of the other Obligations (other than obligations in respect of Derivatives Contracts to the extent constituting Obligations), including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2B) terminate the Commitments and Revolving Commitments, the Swingline Commitment obligation of the Lenders to make Revolving Loans hereunder and the obligation of the Issuing Banks Agent to issue Letters of Credit hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Ashford Hospitality Trust Inc), Credit Agreement (Ashford Hospitality Trust Inc)

Optional. If any other Event of Default shall exist, the Administrative Agent mayshall, and at the direction of the Requisite Lenders shallLenders: (1A) declare (A1) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B2) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such other Event of Default for deposit into the Letter of Credit Collateral Account and (C3) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2B) terminate the Commitments and Commitments, the Swingline Commitment and the obligation of the Issuing Banks Lenders to make Loans hereunder and the obligation of the Agent to issue Letters of Credit hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Hospitality Properties Trust), Credit Agreement (Hospitality Properties Trust)

Optional. If any other Event of Default shall exist, the Administrative Agent mayshall, and at the direction of the Requisite Lenders shallLenders: (1A) declare (A1) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B2) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such other Event of Default for deposit into the Letter of Credit Collateral Account pursuant to Section 10.4. and (C3) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2B) terminate the Commitments and Commitments, the Swingline Commitment and the obligation of the Issuing Banks Lenders to make Loans hereunder and the obligation of the Agent to issue Letters of Credit hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Federal Realty Investment Trust), Credit Agreement (Federal Realty Investment Trust)

Optional. If any other Event of Default shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1) declare (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account and (C) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower Parent and the Borrower, each on behalf of itself and the other Loan Parties, and (2) terminate the Commitments and the Swingline Commitment and the obligation of the Issuing Banks to issue Letters of Credit hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Saul Centers Inc), Credit Agreement (Saul Centers Inc)

Optional. If any other Event of Default shall exist, the Administrative Agent may, with the consent of the Requisite Lenders, and at the direction of the Requisite Lenders shall: (1) declare (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account and (C) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2) terminate the Commitments and Revolving Credit Commitments, the Swingline Commitment obligation of the Lenders to make Loans hereunder and the obligation of the Issuing Banks to issue Letters of Credit hereunder.

Appears in 2 contracts

Samples: Credit Agreement (RLJ Lodging Trust), Credit Agreement (RLJ Lodging Trust)

Optional. If any other Event of Default shall exist, the Administrative Agent mayshall, and at the direction of the Requisite Lenders shallLenders: (1A) declare (A1) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B2) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such other Event of Default for deposit into the Letter of Credit Collateral Account pursuant to Section 10.5. and (C3) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2B) terminate the Commitments and Commitments, the Swingline Commitment Commitment, the obligation of the Lenders to make Loans hereunder and the obligation of the Issuing Banks Agent to issue Letters of Credit hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Heritage Property Investment Trust Inc), Credit Agreement (Heritage Property Investment Trust Inc)

Optional. If any other Event of Default shall exist, the Administrative Agent mayshall, and at the direction of the Requisite Lenders shallLenders: (1A) declare (A1) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B2) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account and (C3) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2B) terminate the Commitments and the Swingline Commitment obligation of the Lenders to make Loans hereunder and the obligation of the Issuing Banks Administrative Agent to issue Letters of Credit hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Equity One Inc), Credit Agreement (Equity One, Inc.)

Optional. If any other Event of Default shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1A) declare (A1) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B2) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such other Event of Default for deposit into the Letter of Credit Collateral Account pursuant to Section 10.6. and (C3) all of the other ObligationsObligations (other than obligations in respect of Derivatives Contracts), including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2B) terminate the Commitments and Commitments, the Swingline Commitment Commitment, the obligation of the Lenders to make Loans hereunder and the obligation of the Issuing Banks Administrative Agent to issue Letters of Credit hereunder.

Appears in 2 contracts

Samples: Credit Agreement (CubeSmart, L.P.), Credit Agreement (U-Store-It Trust)

Optional. If any other Event of Default shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1A) declare (A1) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B2) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such other Event of Default for deposit into the Letter of Credit Collateral Account pursuant to Section 10.6. and (C3) all of the other ObligationsObligations (other than obligations in respect of Derivatives Contracts), including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2B) terminate the Commitments and Commitments, the Swingline Commitment Commitment, the obligation of the Lenders to make Loans hereunder and the obligation of the Issuing Banks to issue Letters of Credit hereunder.

Appears in 2 contracts

Samples: Credit Agreement (CubeSmart, L.P.), Credit Agreement (CubeSmart, L.P.)

Optional. If any other Event of Default shall exist, the Administrative Agent mayshall, and at the direction of the Requisite Lenders shallLenders: (1A) declare (A1) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B2) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such other Event of Default for deposit into the Letter of Credit Collateral Account pursuant to Section 10.5 and (C3) all of the other ObligationsObligations (other than obligations in respect of Derivatives Contracts), including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2B) terminate the Commitments and Commitments, the Swingline Commitment Commitment, the obligation of the Lenders to make Loans hereunder and the obligation of the Issuing Banks Bank to issue Letters of Credit hereunder.

Appears in 1 contract

Samples: Revolving Credit Agreement (Piedmont Office Realty Trust, Inc.)

Optional. If any other Event of Default shall exist, the Administrative Agent may, and at the direction of the Requisite Required Lenders shall: (1) declare (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account and (C) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kindkind (other than any notice required from the Administrative Agent prior to a Default becoming an Event of Default), all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2) terminate the Commitments and the Swingline Commitment and the obligation of the Issuing Banks Bank to issue Letters of Credit hereunder.

Appears in 1 contract

Samples: Credit Agreement (Trade Street Residential, Inc.)

Optional. If any other Event of Default shall existhave occurred and be continuing, the Administrative Agent may, and at the direction or with the consent of the Requisite Lenders shall: (1I) declare (A1) the principal of, and accrued interest on, the Revolving Loans and the Notes at the time outstanding, (B2) an amount equal to the Stated Amount of all Letters of Credit then outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account and (C3) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2II) terminate the Commitments and the Swingline Commitment obligation of the Lenders to make Revolving Loans hereunder and the obligation of the Issuing Banks Administrative Agent to issue Letters of Credit hereunder. Not in limitation of the foregoing, the Administrative Agent shall not exercise the remedy set forth in the preceding sentence unless the Requisite Lenders have so directed the Administrative Agent to exercise such remedy or have consented thereto.

Appears in 1 contract

Samples: Credit Agreement (Mgi Properties)

Optional. If any other Event of Default shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1) declare (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account and (C) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower Parent and the Borrower, each on behalf of itself and the other Loan Parties, (2) require an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default to be deposited into the Letter of Credit Collateral Account and (23) terminate the Commitments and the Swingline Commitment and the obligation of the Issuing Banks to issue Letters of Credit hereunder.

Appears in 1 contract

Samples: Credit Agreement (Tier Reit Inc)

Optional. If any other Event of Default shall exist, the Administrative Agent mayshall, and at the direction of the Requisite Lenders shallLenders: (1A) declare (A1) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B2) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account pursuant to Section 2.13 and (C3) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, Borrowers and (2B) terminate the Commitments and the Swingline Commitment obligation of the Lenders to make Loans and the obligation of the Issuing Banks Agent to issue Letters of Credit hereunder.

Appears in 1 contract

Samples: Credit Agreement (Lexington Realty Trust)

Optional. If any other Event of Default shall existhave occurred and -------- be continuing, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1I) declare (A1) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B2) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account then outstanding, and (C3) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2II) terminate the Commitments and the Swingline Commitment obligation of the Lenders to make Loans hereunder and the obligation of the Issuing Banks Administrative Agent to issue Letters of Credit hereunder.

Appears in 1 contract

Samples: Credit Agreement (CNL American Properties Fund Inc)

Optional. If any other Event of Default shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1) declare (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to 103% of the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account and (C) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2) terminate the Commitments and the Swingline Commitment and the obligation of the Issuing Banks Bank to issue Letters of Credit hereunder.

Appears in 1 contract

Samples: Credit Agreement (NETSTREIT Corp.)

Optional. If any other Event of Default shall exist, the Administrative Agent may, may (unless otherwise directed by Requisite Lenders) and at the direction of the Requisite Lenders shall: (1) declare declare, by written notice to the Borrower, (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account Account, and (C) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2) terminate the Commitments and the Swingline Commitment and the obligation of the Issuing Banks to issue Letters of Credit hereunder.

Appears in 1 contract

Samples: Credit Agreement (Hudson Pacific Properties, L.P.)

Optional. If any other Event of Default shall existhave occurred and be continuing, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1A) declare (A1) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B2) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account Account, and (C3) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2B) terminate the Commitments and Commitments, the Swingline Commitment Commitment, the obligation of the Lenders to make Loans hereunder, and the obligation of the Issuing Banks Bank to issue Letters of Credit hereunder.

Appears in 1 contract

Samples: Credit Agreement (Pennsylvania Real Estate Investment Trust)

Optional. If any other Event of Default shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1) declare (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to the Stated NAI-1501018941v4 Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account Account, and (C) all of the other non-contingent Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2) terminate the Commitments and the Swingline Commitment and the obligation of the Issuing Banks Bank to issue Letters of Credit hereunder.

Appears in 1 contract

Samples: Credit Agreement (LGI Homes, Inc.)

Optional. If any other Event of Default shall exist, the Administrative Agent mayshall, and at the direction of the Requisite Lenders shallLenders: (1A) declare (A1) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B2) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such other Event of Default for deposit into the Letter of Credit Collateral Account pursuant to Section 10.5 and (C3) all of the other ObligationsObligations (other than obligations in respect of Derivatives Contracts), including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2B) terminate the Commitments and Commitments, the Swingline Commitment obligation of the Lenders to make Loans hereunder and the obligation of the Issuing Banks to issue Letters of Credit hereunder.

Appears in 1 contract

Samples: Revolving Credit Agreement (Piedmont Office Realty Trust, Inc.)

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Optional. If any other Event of Default shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1) declare (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account Account, and (C) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan 103 Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2) terminate the Commitments and the Swingline Commitment and the obligation of the Issuing Banks to issue Letters of Credit hereunder.

Appears in 1 contract

Samples: Credit Agreement (Spirit Realty Capital, Inc.)

Optional. If any other Event of Default shall existhave occurred and be continuing, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1A) declare (A1) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B2) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account Account, and (C3) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2B) terminate the Commitments and Commitments, the Swingline Commitment Commitment, the obligation of the Lenders to make Loans hereunder, and the obligation of the Issuing Banks to issue Letters of Credit hereunder.

Appears in 1 contract

Samples: Credit Agreement (Pennsylvania Real Estate Investment Trust)

Optional. If any other Event of Default shall exist, the Administrative Agent mayshall, and at the direction of the Requisite Lenders shallLenders: (1A) declare (A1) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B2) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such other Event of Default for deposit into the Letter of Credit Collateral Account pursuant to Section 10.5 and (C3) all of the other ObligationsObligations (other than obligations in respect of Derivatives Contracts), including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2B) terminate the Commitments and Commitments, the Swingline Commitment Commitment, the obligation of the Lenders to make Loans hereunder and the obligation of the Issuing Banks Agent to issue Letters of Credit hereunder.

Appears in 1 contract

Samples: Revolving Credit Agreement (Piedmont Office Realty Trust, Inc.)

Optional. If any other Event of Default shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1) declare (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account Account, and (C) all of the other non- contingent Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2) terminate the Commitments and the Swingline Commitment and the obligation of the Issuing Banks Bank to issue Letters of Credit hereunder.

Appears in 1 contract

Samples: Credit Agreement (LGI Homes, Inc.)

Optional. If any other Event of Default shall existhave occurred and -------- be continuing, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1I) declare (A1) the principal of, and accrued interest on, the Revolving Loans and Bid Rate Loans and the Notes at the time outstanding, (B2) an amount equal to the Stated Amount of all Letters of Credit then outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account and (C3) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2II) terminate the Commitments and the Swingline Commitment obligation of the Lenders to make Revolving Loans hereunder and the obligation of the Issuing Banks Administrative Agent to issue Letters of Credit hereunder.

Appears in 1 contract

Samples: Credit Agreement (Federal Realty Investment Trust)

Optional. If any other Event of Default shall exist, the Administrative Agent mayshall, and at the direction of the Requisite Lenders shallLenders: (1A) declare (A1) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B2) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such other Event of Default for deposit into the Letter of Credit Collateral Account pursuant to Section 10.5. and (C3) all of the other ObligationsObligations (other than obligations in respect of Derivatives Contracts), including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2B) terminate the Commitments and Commitments, the Swingline Commitment Commitment, the obligation of the Lenders to make Loans hereunder and the obligation of the Issuing Banks Agent to issue Letters of Credit hereunder.

Appears in 1 contract

Samples: Credit Agreement (Piedmont Office Realty Trust, Inc.)

Optional. If any other Event of Default other than as specified in subsections 11.1(e) or 11.1(f) shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1) declare (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account Account, and (C) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2) terminate the Commitments and the Swingline Commitment and the obligation of the Issuing Banks Bank to issue Letters of Credit hereunder.

Appears in 1 contract

Samples: Credit Agreement (Equity One, Inc.)

Optional. If any other Event of Default shall existhave occurred and be continuing, the Administrative Agent may, and at the direction of the Requisite Lenders may direct the Agent, and the Agent if so directed shall: (1a) declare (Ai) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (Bii) an amount equal to the Stated Amount of all Letters of Credit Lender Guaranty Liability outstanding as of the date of the occurrence of such the Event of Default for deposit into the Letter of Credit Collateral Account and (Ciii) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents Documents, to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan PartiesBorrower, and (2b) terminate the Commitments and the Swingline Commitment credit facility established hereby and the obligation of the Issuing Banks Lenders to make Loans hereunder and the obligation of the Agent to issue Letters of Credit hereunder.

Appears in 1 contract

Samples: Credit Agreement (Edutrek Int Inc)

Optional. If any other Event of Default shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1) declare (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account and (C) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2) terminate the Commitments and Commitments, the Swingline Commitment and the obligation of the Issuing Banks Bank to issue Letters of Credit hereunder.

Appears in 1 contract

Samples: Credit Agreement (Post Apartment Homes Lp)

Optional. If any other Event of Default shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1A) declare (A1) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B2) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account pursuant to Section 11.5. and (C3) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2B) terminate the Commitments and the Swingline Commitment and the obligation of the Issuing Banks Bank to issue Letters of Credit hereunder.

Appears in 1 contract

Samples: Credit Agreement (DiamondRock Hospitality Co)

Optional. If any other Event of Default shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1A) declare (A1) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B2) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such other Event of Default for deposit into the Letter of Credit Collateral Account pursuant to Section 11.6. and (C3) all of the other ObligationsObligations (other than obligations in respect of Derivatives Contracts), including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2B) terminate the Commitments and Commitments, the Swingline Commitment Commitment, the obligation of the Lenders to make Loans hereunder and the obligation of the Issuing Banks Agent to issue Letters of Credit hereunder.

Appears in 1 contract

Samples: Credit Agreement (U-Store-It Trust)

Optional. If any other Event of Default shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1) declare (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account and (C) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan PartiesBorrower, and (2) terminate the Commitments and the Swingline Commitment obligation of the Lenders to make Loans hereunder and the obligation of the Issuing Banks Bank to issue Letters of Credit hereunder.

Appears in 1 contract

Samples: Credit Agreement (CBL & Associates Properties Inc)

Optional. If While any other Event of Default shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1) declare (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account and (C) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Parent and the Borrower on behalf of itself themselves and the other Loan Parties, and (2) terminate the Commitments and the Swingline Commitment and the obligation of the each Issuing Banks Bank to issue Letters of Credit hereunder.

Appears in 1 contract

Samples: Credit Agreement (Equity Lifestyle Properties Inc)

Optional. If any other Event of Default shall exist, the Administrative Agent may, and shall at the direction of the Requisite Lenders shallLenders: (1A) declare (A1) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B2) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account pursuant to Section 2.13 and (C3) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower Borrowers on behalf of itself themselves and the other Loan Parties, Parties and (2B) terminate the Commitments and the Swingline Commitment obligation of the Lenders to make Loans and the obligation of the Issuing Banks Agent to issue Letters of Credit hereunder.

Appears in 1 contract

Samples: Credit Agreement (Lexington Realty Trust)

Optional. If any other Event of Default shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1) declare (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account and (C) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower Parent and the Borrower, each on behalf of itself and the other Loan Parties, and (2) terminate the Commitments and the Swingline Commitment and the obligation of the Issuing Banks Bank to issue Letters of Credit hereunder.

Appears in 1 contract

Samples: Credit Agreement (American Realty Capital Properties, Inc.)

Optional. If any other Event of Default shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1A) declare (A1) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B2) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account pursuant to Section 11.5. and (C3) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2B) terminate the Commitments and the Swingline Commitment and the obligation of the Issuing Banks Bank to issue Letters of Credit hereunder.

Appears in 1 contract

Samples: Credit Agreement (DiamondRock Hospitality Co)

Optional. If any other Event of Default shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1A) declare (A1) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B2) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such other Event of Default for deposit into the Letter of Credit Collateral Account pursuant to Section 10.6. and (C3) all of the other ObligationsObligations (other than obligations in respect of Derivatives Contracts), including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2B) terminate the Commitments and Commitments, the Swingline Commitment Commitment, the obligation of the Lenders to make Loans hereunder and the obligation of the Issuing Banks to issue Letters of Credit hereunder.. ​

Appears in 1 contract

Samples: Credit Agreement (CubeSmart, L.P.)

Optional. If any other Event of Default shall exist, the Administrative Agent mayshall, and at the written direction of the Requisite Lenders shallLenders: (1A) declare (A1) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B2) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such other Event of Default (for deposit into the Letter of Credit Collateral Account pursuant to Section 11.5.) and (C3) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders Lenders, the Issuing Bank and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, Borrowers and (2B) terminate the Commitments and Commitments, the Swingline Commitment obligation of the Lenders to make Loans hereunder and the obligation of the Issuing Banks Bank to issue Letters of Credit hereunder.

Appears in 1 contract

Samples: Credit Agreement (Morgans Hotel Group Co.)

Optional. If any other Event of Default shall exist, the Administrative Agent may, with the consent of the Requisite Lenders, and shall, at the direction of the Requisite Lenders shallLenders: (1) declare (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account and (C) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents or the Fee Letters to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the relevant Borrower on behalf of itself and the other Loan Parties, and (2) terminate the Commitments and Revolving Commitments, the Swingline Commitment Term Loan Commitments, the obligation of the Lenders to make Loans hereunder and the obligation of the Issuing Banks to issue Letters of Credit hereunder.

Appears in 1 contract

Samples: Credit Agreement (Park Hotels & Resorts Inc.)

Optional. If any other Event of Default shall exist, the Administrative Agent mayshall, and at the direction of the Requisite Lenders shallLenders: (1A) declare (A1) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B2) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such other Event of Default for deposit into the Letter of Credit Collateral Account pursuant to Section 11.5. and (C3) all of the other ObligationsObligations (other than obligations in respect of Swap Agreements and Treasury Management Services Agreement), including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, Borrowers and (2B) terminate the Commitments and Commitments, the Swingline Commitment Commitment, the obligation of the Lenders to make Loans hereunder and the obligation of the Issuing Banks Agent to issue Letters of Credit hereunder.

Appears in 1 contract

Samples: Credit Agreement (Morgans Hotel Group Co.)

Optional. If any other Event of Default shall exist, the Administrative Agent mayshall, and at the direction of the Requisite Lenders shallLenders: (1A) declare (A1) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B2) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such other Event of Default for deposit into the Letter of Credit Collateral Account pursuant to Section 11.5. and (C3) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2B) terminate the Commitments and Commitments, the Swingline Commitment and the obligation of the Issuing Banks Lenders to make Loans hereunder and the obligation of the Agent to issue Letters of Credit hereunder.

Appears in 1 contract

Samples: Credit Agreement (Corporate Office Properties Trust)

Optional. If any other Event of Default shall existhave occurred and be continuing, the Administrative Agent mayshall, and at the direction of the Requisite Lenders shallLenders: (1A) declare (A1) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B2) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such other Event of Default for deposit into the Letter of Credit Collateral Account and (C3) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2B) terminate the Commitments and Commitments, the Swingline Commitment Commitment, the Alternate Currency Commitment, the obligation of the Lenders to make Loans hereunder and the obligation of the Issuing Banks Agent to issue Letters of Credit hereunder.

Appears in 1 contract

Samples: Credit Agreement (HRPT Properties Trust)

Optional. If any other Event of Default shall existhave occurred and be continuing, the Administrative Agent may, and at the direction of the Requisite Lenders shall: shall (1subject to the terms of SECTION 11): (A) declare (A1) the principal of, and accrued and unpaid interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account and (C2) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes Notes, or any of the other Loan Documents Documents, to be forthwith due and payable, ; whereupon the same shall immediately become due and payable without presentment, demand, protest protest, or other notice of any kind, all of which are expressly waived by Borrower, (B) demand Borrower to provide cash collateral in an amount equal to 100% of the Borrower on behalf of itself and the other Loan PartiesLC Exposure then existing in accordance with SECTION 2.3(g), and (2C) terminate the Commitments (including the Swing Line Commitment and any Commitments under the Swingline Commitment LC Subfacility) and the obligation of Lenders to make Loans hereunder and the Issuing Banks obligation of Administrative Agent to issue Letters of Credit LCs hereunder.

Appears in 1 contract

Samples: Credit Agreement (Allied Capital Corp)

Optional. If any other Event of Default shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1) declare (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account and (C) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the each Borrower on behalf of itself and the other Loan Parties, and (2) terminate the Commitments and the Swingline Commitment and the obligation of the Issuing Banks to issue Letters of Credit hereunder.

Appears in 1 contract

Samples: Credit Agreement (Sl Green Operating Partnership, L.P.)

Optional. If any other Event of Default shall existhave occurred and be continuing, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1I) declare (A1) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B2) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such the Event of Default for deposit into the Letter of Credit Collateral Account and (C3) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Credit Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2II) terminate the Commitments and the Swingline Commitment obligation of the Lenders to make Loans hereunder and the obligation of the Issuing Banks to issue Letters of Credit hereunder.Agent to

Appears in 1 contract

Samples: Credit Agreement (Serologicals Corp)

Optional. If any other Event of Default shall exist, the Administrative Agent may, and with the consent of the Required Lenders, and, at the direction of the Requisite Lenders Required Lenders, the Agent shall: (1A) declare (A1) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B2) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account pursuant to Section 10.4. and (C3) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by each of the Parent and the Borrower on behalf of itself and each of the other Loan Parties, Parties and (2B) terminate the Commitments and Commitments, the Swingline Commitment and the obligation of the Issuing Banks Bank to issue Letters of Credit hereunder.

Appears in 1 contract

Samples: Credit Agreement (First Potomac Realty Trust)

Optional. If any other Event of Default shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1) declare (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such other Event of Default for deposit into the Letter of Credit Collateral Account pursuant to Section 10.6. and (C) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders Lenders, the Issuing Bank and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan PartiesBorrower, and (2) terminate the Commitments and the Swingline Commitment obligation of the Lenders to make Loans hereunder and the obligation of the Issuing Banks Bank to issue Letters of Credit hereunder.

Appears in 1 contract

Samples: Credit Agreement (NNN Reit, Inc.)

Optional. If any other Event of Default shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1) declare (A) the principal of, and accrued interest on, the Loans and the Revolving Notes at the time outstanding, (B) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account and (C) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Revolving Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2) terminate the Commitments and the Swingline Commitment and the obligation of the Issuing Banks to issue Letters of Credit hereunder.

Appears in 1 contract

Samples: Credit Agreement (Service Properties Trust)

Optional. If any other Event of Default shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1) declare (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account and (C) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2) terminate the Revolving Commitments and the Swingline Commitment and the obligation of the Issuing Banks to issue Letters of Credit hereunder.

Appears in 1 contract

Samples: Credit Agreement (Realty Income Corp)

Optional. If any other Event of Default shall exist, the Administrative Agent mayshall, and at the direction of the Requisite Lenders shallLenders: (1A) declare (A1) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B2) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such other Event of Default for deposit into the Letter of Credit Collateral Account pursuant to Section 10.5. and (C3) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Credit Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2B) terminate the Commitments and Commitments, the Swingline Commitment Commitment, the obligation of the Lenders to make Loans hereunder and the obligation of the Issuing Banks Agent to issue Letters of Credit hereunder.

Appears in 1 contract

Samples: Credit Agreement (St Joe Co)

Optional. If any other Event of Default shall exist, the Administrative Agent may, and at the direction of the Requisite Lenders shall: (1) declare (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account Account, and (C) all of the other Obligations, including, but not limited to, including the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2) terminate the Commitments and the Swingline Commitment and the obligation of the Issuing Banks to issue Letters of Credit hereunder.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Spirit Realty, L.P.)

Optional. If any other Event of Default shall exist, the Administrative Agent maymay and, and at the direction of the Requisite Required Lenders shall: (1A) declare (A1) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B2) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account pursuant to Section 10.4. and (C3) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by each of the Parent and the Borrower on behalf of itself and each of the other Loan Parties, Parties and (2B) terminate the Commitments and Commitments, the Swingline Commitment and the obligation of the Issuing Banks Bank to issue Letters of Credit hereunder.

Appears in 1 contract

Samples: Revolving Credit Agreement (First Potomac Realty Trust)

Optional. If any other Event of Default shall exist, the Administrative Agent mayshall, and at the direction of the Requisite Lenders shallLenders: (1A) declare (A1) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B2) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such other Event of Default for deposit into the Letter of Credit Collateral Account and (C3) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan Parties, and (2B) terminate the Commitments and Commitments, the Swingline Commitment Commitment, the obligation of the Lenders to make Loans hereunder and the obligation of the Issuing Banks Agent to issue Letters of Credit hereunder.

Appears in 1 contract

Samples: Credit Agreement (Senior Housing Properties Trust)

Optional. If any other Event of Default shall exist, the Administrative Agent may, with the consent of the Requisite Lenders, and shall, at the direction of the Requisite Lenders shallLenders: (1) declare (A) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such Event of Default for deposit into the Letter of Credit Collateral Account and (C) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents or the Fee Letters to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the relevant Borrower on behalf of itself and the other Loan Parties, and (2) terminate the Commitments and Revolving Commitments, the Swingline Commitment obligation of the Lenders to make Loans hereunder and the obligation of the Issuing Banks to issue Letters of Credit hereunder.

Appears in 1 contract

Samples: Credit Agreement (Park Hotels & Resorts Inc.)

Optional. If any other Event of Default shall existhave occurred and be continuing, the Administrative Agent mayshall, and at the direction of the Requisite Lenders shallLenders: (1A) declare (A1) the principal of, and accrued interest on, the Loans and the Notes at the time outstanding, (B2) an amount equal to the Stated Amount of all Letters of Credit outstanding as of the date of the occurrence of such other Event of Default for deposit into the Letter of Credit Collateral Account Default, and (C3) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes or any of the other Loan Documents Documents, to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Borrower on behalf of itself and the other Loan PartiesBorrower, and (2B) terminate the Commitments and the Swingline Commitment obligation of the Lenders to make Loans hereunder and the obligation of the Issuing Banks Lender to issue Letters of Credit hereunder.Credit

Appears in 1 contract

Samples: Credit Agreement (Gables Realty Limited Partnership)

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