Termination and Acceleration. Terminate any commitment and declare the unpaid principal balance of the loans, all accrued interest thereon, and all other amounts payable under this Agreement, each Promissory Note, and all other Loan Documents to be immediately due and payable. Upon such a declaration, the unpaid principal balance of the loans and all such other amounts will become immediately due and payable, without protest, presentment, demand, or further notice of any kind, all of which are hereby expressly waived by the Borrower.
Termination and Acceleration. Upon the occurrence of an Event of Default under Sections 12.1(k) or (l), all Revolving Commitments shall, automatically and without notice to any Person, terminate and all Obligations (other than Obligations under any Swap Agreements between a Credit Party and Administrative Agent or any Lender (or any of their respective Affiliates), all of which shall be due in accordance with and governed by the provisions of such Swap Agreements) shall, automatically and without notice to any Person, become immediately due and payable, without diligence, presentment, demand, protest, or notice of any kind, all of which are hereby waived by Credit Parties to the fullest extent permitted by Applicable Law. During the existence of any other Event of Default, Administrative Agent may (and, at the written direction of the Required Lenders, shall) do one or more of the following at any time and from time to time:
(i) declare any Obligations immediately due and payable (other than Obligations under any Swap Agreements between an Obligor and Administrative Agent or any Lender (or any of their respective Affiliates), all of which shall be due in accordance with and governed by the provisions of such Swap Agreements), whereupon they shall be due and payable without diligence, presentment, demand, protest, or notice of any kind, all of which are hereby waived by Credit Parties to the fullest extent permitted by Applicable Law;
(A) refuse to make Loans, cause the issuance of any Letters of Credit, make any other extensions of credit or grant any other financial accommodations to or for the benefit of any Credit Parties; (B) terminate, reduce, or condition any Revolving Commitment; (C) make any adjustment to the Borrowing Base (including by instituting additional Reserves); and (D) ON DEMAND, require Credit Parties to Cash Collateralize LC Obligations, Bank Product Obligations, and other Obligations that are contingent or not yet due and payable (and, if Credit Parties do not, for whatever reason, provide such Cash Collateral ON DEMAND, Administrative Agent may provide such Cash Collateral with the proceeds of a Revolving Loan and each Lender shall fund its Pro Rata Share thereof in accordance with Section 4.1(c), regardless of whether an Over Advance exists or would result therefrom or any condition precedent to the making of any such Loan has not been satisfied); and
(iii) exercise such other rights and remedies which may be available to it under this Agreement, the other Loan D...
Termination and Acceleration. Terminate any commitment and declare the unpaid principal balance of the loans, all accrued interest thereon, and all other amounts payable under this Agreement, the Promissory Notes and Supplements, and all other Loan Documents to be immediately due and payable; provided, however, that upon the occurrence of an Event of Default under Section 8.08(F), any commitments shall automatically be terminated and all such amounts shall automatically become due and payable. Upon such a declaration (or automatically, as provided above), the unpaid principal balance of the loans and all such other amounts shall become immediately due and payable, without protest, presentment, demand, or further notice of any kind, all of which are hereby expressly waived by the Company.
Termination and Acceleration. Xxxxxxxxxx Group may terminate this Agreement at any time, without notice if the cardholder is in breach of this Agreement, including without limitation, where the cardholder fails to make payments by the due date in accordance with the types of credit used, or if he becomes bankrupt, insolvent, or makes a proposal under bankruptcy legislation. If this Agreement is terminated, Xxxxxxxxxx Group or its agent may, subject to the laws of the Province of residence of the cardholder, do any or all of the following:
a) refuse to honour any cheques (whether made before or after such termination);
b) require the entire balance of the cardholder’s indebtedness including, without limitation, credit charges to be repaid immediately, whether or not such balance is due and payable at that time;
c) debit any account the cardholder may have with Xxxxxxxxxx Group and apply the funds against the indebtedness and credit charges owing under this Agreement;
d) request that all Visa Desjardins cards and unused cheques be returned to it; and
e) take possession of all such cards and unused cheques.
Termination and Acceleration. Xxxxxxxxxx Group may terminate this Agreement at any time without notice if the cardholder is in breach of this Agreement, including without limitation, where the cardholder fails to make payments by the due date in accordance with the types of credit used, or he if he becomes bankrupt, insolvent, or makes a proposal under bankruptcy legislation. If this Agreement is terminated, Xxxxxxxxxx Group or its agent may, subject to the laws of the Province of residence of the cardholder, do any or all of the following:
a) require the entire balance of the cardholder’s indebtedness including, without limitation, credit charges to be repaid immediately, whether or not such balance is due and payable at that time;
b) debit any account the cardholder may have with Xxxxxxxxxx Group and apply the funds against the indebtedness and credit charges owing under this Agreement;
c) request that all cards be returned to it;
d) take possession of all such cards.
Termination and Acceleration. Upon the occurrence of an Event of Default, all obligations of Lender under this Agreement, and under the other Loan Documents at the election of Lender, shall cease and terminate and Lender may declare all amounts outstanding under the Note and other Loan Documents immediately due and payable in accordance with the Intercreditor Agreement and may foreclose the Loan Documents.
Termination and Acceleration. 12.1.1 If an Event of Default shall have occurred and be continuing, the Lender may declare the Loan to be cancelled and accelerated (other than with respect to any Event of Default pursuant to Section 11.1 hereunder, in which case, the Principal at Maturity shall be automatically and immediately due and payable without need of any Lender action) or take any other action, commence any other suit, action or proceeding or exercise such other rights as may be permitted by Applicable Law (whether or not provided for under this Agreement) at such times and in such manner as the Lender may consider expedient, all without any additional notice, demand, presentment for payment, protest, noting of protest, dishonour, notice of dishonour or any other action being required.
12.1.2 If the Loan is declared cancelled and accelerated pursuant to Section 12.1.1 hereunder, the Borrower may, subject to the prior approval of the Lender, apply to the Exchange in order to repay the Principal at Maturity and any amount of accrued interests on the Loan outstanding in common shares in accordance with Policy 4.3.
Termination and Acceleration. If an Event of Default shall have occurred and be continuing, the Administrative Agent may do any one or more of the following:
17.1.1 declare the whole or any item or part of the Facilities and the Commitments made hereunder to be cancelled, terminated or reduced, whereupon the Lenders shall not be required to make any further Advance hereunder in respect of such portion of the Facilities and Commitments so cancelled, terminated or reduced;
17.1.2 accelerate the maturity of all or any item or part of the Loans and declare them to be immediately due and payable, whereupon they shall be so accelerated and become so due and payable;
17.1.3 demand that the Cdn Borrower prepay the BA Liabilities then outstanding, whereupon the Cdn Borrower shall be obliged to prepay to the Administrative Agent the face amount of all outstanding BAs issued for its account notwithstanding that the holders of the outstanding BAs shall not have demanded payment or shall not then be entitled to do so;
17.1.4 demand that the Cdn Borrower prepay the Cdn Revolving LC Liabilities then outstanding whereupon the Cdn Borrower shall be obliged to prepay to the Administrative Agent the aggregate maximum liability of the Cdn LC Issuing Lender under the LCs issued under the Cdn Revolving Facility and then outstanding notwithstanding that the beneficiaries of such outstanding LCs shall not have demanded payment in whole or in part, or shall have demanded payment in part only or shall not then be entitled to do so;
17.1.5 demand that the US Borrower prepay the US Revolving LC Liabilities then outstanding whereupon the US Borrower shall be obliged to prepay to the Administrative Agent the aggregate maximum liability of the US LC Issuing Lender under the LCs issued under the US Revolving Facility and then CREDIT AGREEMENT – PAGE 77 outstanding notwithstanding that the beneficiaries of such outstanding LCs shall not have demanded payment in whole or in part, or shall have demanded payment in part only or shall not then be entitled to do so;
17.1.6 demand payment under any Guarantee comprised in the Operative Documents;
17.1.7 suspend any rights of any Restricted Credit Party under any Operative Document, whereupon such rights shall be so suspended; and
17.1.8 take any other action, commence any other suit, action or proceeding or exercise such other rights as may be permitted by Applicable Law (whether or not provided for in any Operative Document) at such times and in such manner as the Administr...
Termination and Acceleration. (a) If any Event of Default has occurred and is continuing, then the interest rate on the Notes shall increase immediately by an increment of two (2) percentage points (or, if less, the highest rate permitted by law). If any such Event of Default has occurred and continues for a period of three hundred sixty (360) days thereafter, then the interest rate on the Notes shall increase by a further increment of two (2) percentage points (for a total increase of four (4) percentage points) (or, if less, the highest rate permitted by law). Any increase of the interest rate resulting from the operation of this subparagraph shall terminate as of the close of business on the date on which no Events of Default exist (subject to subsequent increases pursuant to this subparagraph).
(b) If an Event of Default of the type described in Section 10.1(h) has occurred, then the aggregate outstanding principal amount of each Note (together with all accrued interest thereon and all other amounts due and payable with respect thereto) shall become immediately due and payable without any action on the part of any Investor, and the Company shall immediately pay to each Investor all amounts due and payable with respect to its Note.
(c) If an Event of Default (other than under Section 10.1(h)) has occurred and is continuing, then any Investor may declare all or any portion of the outstanding principal amount of such Investor's Note (together with all accrued interest thereon and all other amounts due and payable with respect thereto) to be immediately due and payable and may demand immediate payment of all or any portion of the outstanding principal amount of such Note (together with all such other amounts then due and payable) owed to such Investor. If any such Investor demands immediate payment of all or any portion of its respective Note, the Company shall immediately pay to each such Investor all amounts due and payable with respect to the Note.
Termination and Acceleration. If an Event of Default shall have occurred and be continuing, the Administrative Agent may do any one or more of the following:
15.1.1 declare the whole or any item or part of the Facility to be cancelled, terminated or reduced, whereupon the Lenders shall not be required to make any further Advance hereunder in respect of such portion of the Facility cancelled, terminated or reduced;
15.1.2 accelerate the maturity of all or any item or part of the Loans and declare them to be immediately due and payable, whereupon they shall be so accelerated and become so due and payable;
15.1.3 demand payment under any Guarantee comprised in the Operative Documents;
15.1.4 suspend any rights of any Credit Party under any Operative Document, whereupon such rights shall be so suspended; and
15.1.5 take any other action, commence any other suit, action or proceeding or exercise such other rights as may be permitted by Applicable Law (whether or not provided for in any Operative Document) at such times and in such manner as the Administrative Agent may consider expedient, all without any additional notice, demand, presentment for payment, protest, noting of protest, dishonour, notice of dishonour or any other action being required other than those required by Law. If an Event of Default referred to in Section 14.7 occurs, the Facility shall immediately and automatically be cancelled and the Loans shall be accelerated and become immediately and automatically due and payable without any action on the part of the Administrative Agent or any other Finance Party being required.
