Common use of Remedies for Non-Bankruptcy Defaults Clause in Contracts

Remedies for Non-Bankruptcy Defaults. When any Event of Default, other than an Event of Default described in subsections (k) and (l) of Section 8.1 hereof, has occurred and is continuing, the Administrative Agent, if directed by the Required Banks, shall give written notice to Chemical and take any or all of the following actions: (a) terminate the remaining Revolving Credit Commitments hereunder on the date (which may be the date thereof) stated in such notice, (b) declare the principal of and the accrued interest on the Notes and Reimbursement Obligations to be forthwith due and payable and thereupon the Notes and Reimbursement Obligations including both principal and interest, shall be and become immediately due and payable without further demand, presentment, protest or notice of any kind, and (c) take any action or exercise any remedy under any of the Loan Documents or exercise any other action, right, power or remedy permitted by law. Any Bank may exercise the right of set off with regard to any deposit accounts or other accounts or investments maintained by any Borrower with any of the Banks.

Remedies for Non-Bankruptcy Defaults. When any Event of Default, other than an Event of Default described in subsections (ki) and (lj) of Section 8.1 9.1 hereof, has occurred and is continuing, the Administrative Agent, if directed by the Required BanksLenders, shall give written notice to Chemical the Borrower and take any or all of the following actions: (a) terminate the remaining Revolving Credit Commitments hereunder on the date (which may be the date thereof) stated in such notice, (b) declare the principal of and the accrued interest on the Notes and Reimbursement Obligations to be forthwith due and payable and thereupon the Notes and Reimbursement Obligations including both principal and interest, shall be and become immediately due and payable without further demand, presentment, protest or notice of any kind, and (c) take any action or exercise any remedy under any of the Loan Documents or exercise any other action, right, power or remedy permitted by law. Any Bank Lender may exercise the right of set off with regard to any deposit accounts or other accounts or investments maintained by the Borrower or any Borrower Guarantor with any of the BanksLenders.

Remedies for Non-Bankruptcy Defaults. When any Event of Default, other than an Event of Default described in subsections (kh) and (li) of Section 8.1 hereof, has occurred and is continuing, the Administrative Agent, if directed by the Required Banks, shall give written notice to Chemical the Company and take any or all of the following actions: (a) terminate the remaining Revolving Credit Commitments hereunder on the date (which may be the date thereof) stated in such notice, (b) declare the principal of and the accrued interest on the Revolving Notes and Reimbursement Obligations to be forthwith due and payable and thereupon the Revolving Notes and Reimbursement Obligations including both principal and interest, shall be and become immediately due and payable without further demand, presentment, protest or notice of any kind, and (c) proceed to foreclose against any Collateral under the Security Documents, take any action or exercise any remedy under any of the Loan Documents or exercise any other action, right, power or remedy permitted by law. Any Bank may exercise the right of set off with regard to any deposit accounts or other accounts or investments maintained by any Borrower with any of the Banks, subject to Section 11.15 hereof.

Remedies for Non-Bankruptcy Defaults. When any Event of Default, other than an Event of Default described in subsections (kh) and (li) of Section 8.1 hereof, has occurred and is continuing, the Administrative Agent, if directed by the Required Banks, shall give written notice to Chemical the Borrower and take any or all of the following actions: (a) terminate the remaining Revolving Credit Commitments hereunder on the date (which may be the date thereof) stated in such notice, (b) declare the principal of and the accrued interest on the Notes Loans of any Class and Reimbursement Obligations to be forthwith due and payable and thereupon the Notes such Loans and Reimbursement Obligations including both principal and interest, shall be and become immediately due and payable without further demand, presentment, protest or notice of any kind, and (c) take any action or exercise any remedy under any of the Loan Documents or exercise any other action, right, power or remedy permitted by law. Any Bank may exercise the right of set off with regard to any deposit accounts or other accounts or investments maintained by any the Borrower with any of the Banks.

Remedies for Non-Bankruptcy Defaults. When any Event of Default, other than an Event of Default described in subsections (ki) and (lj) of Section 8.1 hereof, has occurred and is continuing, the Administrative Agent, if directed by the Required Banks, Bank shall give written notice to Chemical the Borrower and take any or all of the following actions: (ai) terminate the remaining Revolving Term Credit Commitments hereunder on the date (which may be the date thereof) stated in such notice, (bii) declare the principal of and the accrued interest on the Notes and Reimbursement Obligations Note to be forthwith due and payable and thereupon the Notes and Reimbursement Obligations Note (including both principal and interest, plus an amount equal to the amount of interest that would have otherwise been paid on the portion of the Note in default through and including August 31, 2005) shall be and become immediately due and payable without further demand, presentment, protest or of notice of any kind, and (ciii) take any action or exercise any remedy under any of the Loan Documents or exercise any other action, right, power or remedy permitted by law. Any The Bank may exercise the right of set set-off with regard to any deposit accounts or other accounts or investments maintained by any the Borrower with the Bank, and the Borrower's indebtedness hereunder shall be satisfied to the extent of any of the Banksamount set-off against such indebtedness.

Remedies for Non-Bankruptcy Defaults. When any Event of Default, other than an Event of Default described in subsections (kh) and (li) of Section 8.1 hereof, has occurred and is continuing, the Administrative Agent, if directed by the Required Banks, shall give written notice to Chemical the Borrowers and take any or all of the following actions: (a) terminate the remaining Revolving Credit Commitments hereunder on the date (which may be the date thereof) stated in such notice, (b) declare the principal of and the accrued interest on the Notes and Reimbursement Obligations to be forthwith due and payable and thereupon the Notes and Reimbursement Obligations including both principal and interest, shall be and become immediately due and payable without further demand, presentment, protest or notice of any kind, and (c) take any action or exercise any remedy under any of the Loan Documents or exercise any other action, right, power or remedy permitted by law. Any Bank may exercise the right of set off with regard to any deposit accounts or other accounts or investments maintained by any Borrower with any of the Banks.

Remedies for Non-Bankruptcy Defaults. When any Event of Default, other than an Event of Default described in subsections (kh) and (li) of Section 8.1 hereof, has occurred and is continuing, the Administrative Agent, if directed by the Required Banks, shall give written notice to Chemical the Borrower and take any or all of the following actions: : (a) terminate the remaining Revolving Credit Commitments hereunder on the date (which may be the date thereof) stated in such notice, (b) declare the principal of and the accrued interest on the Notes and Reimbursement Obligations to be forthwith due and payable and thereupon the Notes and Reimbursement Obligations including both principal and interest, shall be and become immediately due and payable without further demand, presentment, protest or notice of any kind, and (c) take any action or exercise any remedy under any of the Loan Documents or exercise any other action, right, power or remedy permitted by law. Any Bank may exercise the right of set off with regard to any deposit accounts or other accounts or investments maintained by any the Borrower with any of the Banks.

Remedies for Non-Bankruptcy Defaults. When any Event of Default, other than an Event of Default described in subsections (kh) and (li) of Section 8.1 hereof, has occurred and is continuing, the Administrative Agent, if directed by the Required Banks, shall give written notice to Chemical the Borrower and take any or all of the following actions: : (a) terminate the remaining Revolving Credit Commitments hereunder on the date (which may be the date thereof) stated in such notice, (b) declare the principal of and the accrued interest on the Notes Loans of any Class and Reimbursement Obligations to be forthwith due and payable and thereupon the Notes such Loans and Reimbursement Obligations including both principal and interest, shall be and become immediately due and payable without further demand, presentment, protest or notice of any kind, and (c) take any action or exercise any remedy under any of the Loan Documents or exercise any other action, right, power or remedy permitted by law. Any Bank may exercise the right of set off with regard to any deposit accounts or other accounts or investments maintained by any the Borrower with any of the Banks.