Common use of REMEDIES OF LENDERS Clause in Contracts

REMEDIES OF LENDERS. Upon the occurrence of an Event of Default hereunder and the completion of any applicable grace or cure period, and during continuance of such Event of Default, (i) with the consent of Requisite Lenders Agent may and (ii) upon the request of Requisite Lenders Agent shall, by notice to Master Borrower on behalf of the Lenders, and with respect to Section 10.1.3 each individual Lender may, exercise all or any of the following remedies, all of which rights and remedies shall be cumulative: 10.1.1 Demand immediate payment in full of all Indebtedness, whereupon the same shall be immediately due and payable. 10.1.2 Immediately terminate Lenders' obligations to make any Loans or to issue any Letters of Credit or Tri-Party Agreements hereunder and Swing Line Lender's obligation to make Swing Line Loans. 10.1.3 Set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held by any Lender to or for the credit or the account of any Borrower, irrespective of whether Agent or Lenders shall have made any demand under this Agreement, the Line of Credit Notes, the Swing Line Note or any other Loan Document and although such obligations may be unmatured (which rights of the Lenders are in addition to other rights and remedies, including, without limitation, other rights of setoff, which the Lenders may have). All net funds recovered under the rights provided in this Section 10.1.3 shall be recovered by Lenders as agent for the other Lenders and shall be distributed among Lenders according to their Pro Rata Share. Each Lender shall be an agent of all other Lenders for purposes of rights of set-off. 10.1.4 Exercise its rights or remedies granted herein, or under applicable law, or which it may otherwise have under any other Loan Document, against Borrowers or against Guarantor. 10.1.5 Notwithstanding anything to the contrary contained in this Section 10.1, upon the occurrence with respect to Guarantor of any event describe in Section 9.3, the entire Indebtedness shall be immediately due and payable and Lenders' obligations to make Loans or to issue Letters of Credit or Tri-Party Agreements and Swing Line Lender's obligation to make Swing Line Loans, shall automatically and immediately terminate, without notice from Agent or any Lender.

REMEDIES OF LENDERS. Upon the occurrence of an Event of Default hereunder and the completion of any applicable grace or cure period, and during continuance of such Event of Default, (i) with the consent of Requisite Lenders Agent may and (ii) upon the request of Requisite Lenders Agent shall, by notice to Master Borrower on behalf of the Lenders, and with respect to Section 10.1.3 each individual Lender may, exercise all or any of the following remedies, all of which rights and remedies shall be cumulative: 10.1.1 Demand immediate payment in full of all Indebtedness, whereupon the same shall be immediately due and payable. 10.1.2 Immediately terminate Lenders' ’ obligations to make any Loans or to issue any Letters of Credit or Tri-Party Agreements hereunder and Swing Line Lender's ’s obligation to make Swing Line Loans. 10.1.3 Set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held by any Lender to or for the credit or the account of any Borrower, irrespective of whether Agent or Lenders shall have made any demand under this Agreement, the Line of Credit Notes, the Swing Line Note or any other Loan Document and although such obligations may be unmatured (which rights of the Lenders are in addition to other rights and remedies, including, without limitation, other rights of setoff, which the Lenders may have). All net funds recovered under the rights provided in this Section 10.1.3 shall be recovered by Lenders as agent for the other Lenders and shall be distributed among Lenders according to their Pro Rata Share. Each Lender shall be an agent of all other Lenders for purposes of rights of set-off. 10.1.4 Exercise its rights or remedies granted herein, or under applicable law, or which it may otherwise have under any other Loan Document, against Borrowers or against Guarantor. 10.1.5 Notwithstanding anything to the contrary contained in this Section 10.1, upon the occurrence with respect to Guarantor of any event describe in Section 9.3, the entire Indebtedness shall be immediately due and payable and Lenders' ’ obligations to make Loans or to issue Letters of Credit or Tri-Party Agreements and Swing Line Lender's ’s obligation to make Swing Line Loans, shall automatically and immediately terminate, without notice from Agent or any Lender.