Common use of Remedies Upon Default or Termination Clause in Contracts

Remedies Upon Default or Termination. Immediately upon the occurrence of a further Default under the Loan Documents or an Event of Default under this Amendment, and without notice or an opportunity to cure such Default or Event of Default, or on April 15, 2003 in the absence of (i) a further written agreement among the Borrower, the Administrative Agent and the Lenders pertaining to the repayment of the Borrower's obligations, (ii) earlier demand for repayment following a further Default or Event of Default or (iii) the Borrower then being in full compliance with all provisions of the Loan Documents (as amended by this Amendment but without the benefit of any waiver of defaults), the Restructuring Period shall automatically expire and, upon the election of the Required Lenders but without further notice, all of the Borrower's obligations to the Lenders shall be immediately due and payable (to the extent not already due and payable), all undertakings of the Administrative Agent and the Lenders hereunder, including without limitation the Administrative Agent's and the Lenders' forbearance, shall terminate without notice to the Borrower and without the requirement of any further action by or on behalf of the Administrative Agent or the Lenders, the waiver of the Existing Defaults and any resulting acceleration as set forth herein shall be deemed rescinded ab initio, and the Administrative Agent or the Lenders shall have the right to exercise any remedies provided in this Amendment or any of the Loan Documents, or under applicable law or in equity. All rights and remedies of the Administrative Agent and the Lenders shall be cumulative and not exclusive, and the Administrative Agent or the Lenders shall be entitled to pursue one or more rights and/or remedies simultaneously or sequentially without the necessity of an election of remedies.

Remedies Upon Default or Termination. Immediately upon the occurrence of a further Default under the Loan Documents or an Restructuring Event of Default under this AmendmentDefault, and without further notice or an any further opportunity to cure such Default or Restructuring Event of Default, or on April 15June 28, 2003 2002 in the absence of (i) a further written agreement among the BorrowerLoan Parties, the Administrative Agent and the Lenders Banks pertaining to the repayment of the Borrower's Loan Parties’ obligations, (ii) earlier demand for repayment following a further Default or Restructuring Event of Default or (iii) the Borrower Loan Parties then being in full compliance with all provisions of the Loan Documents (as amended by this Amendment but without the benefit of any waiver of defaults), the Restructuring Period shall automatically expire and, upon the election of the Required Lenders Banks but without further notice, all of the Borrower's Loan Parties’ obligations to the Lenders Banks shall be immediately due and payable (to the extent not already due and payable), all undertakings of the Administrative Agent and the Lenders Banks hereunder, including without limitation the Administrative Agent's ’s and the Lenders' forbearanceBanks’ agreement not to exercise available remedies, shall terminate without notice to the Borrower Loan Parties and without the requirement of any further action by or on behalf of the Administrative Agent or the Lenders, the waiver of the Existing Defaults and any resulting acceleration as set forth herein shall be deemed rescinded ab initioBanks, and the Administrative Agent or the Lenders Banks shall have the right to exercise any remedies provided in this Amendment or any of the Loan Documents, or under applicable law or in equity. All rights and remedies of the Administrative Agent and the Lenders Banks shall be cumulative and not exclusive, and the Administrative Agent or the Lenders Banks shall be entitled to pursue one or more rights and/or remedies simultaneously or sequentially without the necessity of an election of remedies.

Remedies Upon Default or Termination. Immediately upon the occurrence of a further Default under the Loan Documents or an Event of Default or a default under this AmendmentAmendment or any document or agreement comprising the Loan Documents, and without notice or an opportunity to cure such Event of Default or Event of Defaultdefault, or on April 15September 14, 2003 2001 in the absence of (i) a further written agreement among the BorrowerBorrowers, the Administrative Agent and the Lenders pertaining to the repayment of the Borrower's Borrowers' obligations, (ii) earlier demand for repayment following a further Default or Event of Default or (iii) the Borrower Borrowers then being in full compliance with all provisions of the Loan Documents (as amended by this Amendment but without the benefit of any waiver of defaults), the Restructuring Period shall automatically expire and, upon the election of the Required Lenders but without further notice, all of the Borrower's Borrowers' obligations to the Lenders shall be immediately due and payable (to the extent not already due and payable), all undertakings of the Administrative Agent and the Lenders hereunder, including without limitation the Administrative Agent's and the Lenders' forbearanceagreement not to exercise available remedies, shall terminate without notice to the Borrower Company and without the requirement of any further action by or on behalf of the Administrative Agent or the Lenders, the waiver of the Existing Defaults and any resulting acceleration as set forth herein shall be deemed rescinded ab initio, and the Administrative Agent or the Lenders shall have the right to exercise any remedies provided in this Amendment or any of the Loan Documents, or under applicable law or in equity. All rights and remedies of the Administrative Agent and the Lenders shall be cumulative and not exclusive, and the Administrative Agent or the Lenders shall be entitled to pursue one or more rights and/or remedies simultaneously or sequentially without the necessity of an election of remedies.

Remedies Upon Default or Termination. Immediately upon the occurrence of a further Default under the Loan Documents or an Restructuring Event of Default under this AmendmentDefault, and without further notice or an any further opportunity to cure such Default or Restructuring Event of Default, or on April 1530, 2003 in the absence of (i) a further written agreement among the BorrowerLoan Parties, the Administrative Agent and the Lenders Banks pertaining to the repayment of the Borrower's Loan Parties’ obligations, (ii) earlier demand for repayment following a further Default or Restructuring Event of Default or (iii) the Borrower Loan Parties then being in full compliance with all provisions of the Loan Documents (as amended by this Amendment but without the benefit of any waiver of defaults), the Restructuring Period shall automatically expire and, upon the election of the Required Lenders Banks but without further notice, all of the Borrower's Loan Parties’ obligations to the Lenders Banks shall be immediately due and payable (to the extent not already due and payable), all undertakings of the Administrative Agent and the Lenders Banks hereunder, including without limitation the Administrative Agent's ’s and the Lenders' forbearanceBanks’ agreement not to exercise available remedies, shall terminate without notice to the Borrower Loan Parties and without the requirement of any further action by or on behalf of the Administrative Agent or the Lenders, the waiver of the Existing Defaults and any resulting acceleration as set forth herein shall be deemed rescinded ab initioBanks, and the Administrative Agent or the Lenders Banks shall have the right to exercise any remedies provided in this Amendment or any of the Loan Documents, or under applicable law or in equity. All rights and remedies of the Administrative Agent and the Lenders Banks shall be cumulative and not exclusive, and the Administrative Agent or the Lenders Banks shall be entitled to pursue one or more rights and/or remedies simultaneously or sequentially without the necessity of an election of remedies.