Common use of Termination by Lenders Clause in Contracts

Termination by Lenders. The Commitments, and thus the obligation of the Lenders to make Advances, shall terminate: (i) Immediately and without further action upon the occurrence of an Event of Default of the nature referred to in clause (h) of Section 6.1; or (ii) Immediately when any Event of Default (other than of the nature specified in clause (h) of Section 6.1) shall have occurred and be continuing and either (A) the Required Lenders shall have demanded payment of the Notes, or (B) the Required Lenders shall elect to terminate the Commitments by giving written notice to the Company for purposes of this clause.

Termination by Lenders. The Commitments, and thus the obligation of the Lenders to make Advances, shall terminate: (i) Immediately and without further action upon the occurrence of an Event of Default of the nature referred to in clause (h) of Section 6.1; or (ii) Immediately when any Event of Default (other than of the nature specified in clause (h) of Section 6.1) shall have occurred and be continuing and either (A) the Required Lenders shall have demanded payment of the Notes, or (B) the Required Lenders shall elect to terminate the Commitments Total Commitment by giving written notice to the Company for purposes of this clause.

Termination by Lenders. The Commitments, and thus the obligation of the Lenders to make AdvancesAdvances and issue any Letters of Credit, shall terminate: (i) Immediately and without further action upon the occurrence of an Event of Default of the nature referred to in clause (h) of Section 6.1; or (ii) Immediately when any Event of Default (other than of the nature specified in clause (h) of Section 6.1) shall have occurred and be continuing and either (A) the Required Lenders shall have demanded payment of the Notes, or (B) the Required Lenders shall elect to terminate the Commitments by giving written notice to the Company for purposes of this clause.