Common use of The Agents’ Rights Clause in Contracts

The Agents’ Rights. If any of the events set out in Clause 10.2 occurs, the Agent may at its discretion (and, on the instructions of the Majority Lenders, will): 10.1.1 by notice to the Borrowers declare the Lenders to be under no further obligation to the Borrowers under or pursuant to this Agreement and may (and, on the instructions of the Majority Lenders, will) declare all or any part of the Indebtedness (including such unpaid interest as shall have accrued and any Break Costs incurred by the Finance Parties) to be immediately payable, whereupon the Indebtedness (or the part of the Indebtedness referred to in the Agent’s notice) shall immediately become due and payable without any further demand or notice of any kind; and/or 10.1.2 declare that any undrawn portion of the Facility shall be cancelled, whereupon the same shall be cancelled and the corresponding Commitment of each Lender shall be reduced to zero; and/or 10.1.3 exercise any rights and remedies in existence or arising under the Security Documents.

The Agents’ Rights. If any of the events set out in Clause 10.2 12.2 occurs, the Agent may at its discretion (and, on the instructions of the Majority LendersBanks, will): 10.1.1 12.1.1 by notice to the Borrowers Borrower declare the Lenders Banks to be under no further obligation to the Borrowers Borrower under or pursuant to this Agreement and may (and, on the instructions of the Majority LendersBanks, will) declare all or any part of the Indebtedness (including such unpaid interest as shall have accrued and any Break Costs incurred by the Finance Parties) to be immediately payable, whereupon the Indebtedness (or the part of the Indebtedness referred to in the Agent’s notice) shall immediately become due and payable without any further demand or notice of any kind; and/or 10.1.2 12.1.2 declare that any undrawn portion of the Facility shall be cancelled, whereupon the same shall be cancelled and the corresponding Commitment of each Lender Bank shall be reduced to zero; and/or 10.1.3 12.1.3 exercise any rights and remedies in existence or arising under the Security Documents.

The Agents’ Rights. If any of the events set out in Clause 10.2 12.2 occurs, the Agent may at its discretion (and, on the instructions of the Majority LendersBanks, will): 10.1.1 12.1.1 by notice to the Borrowers Borrower declare the Lenders Banks to be under no further obligation to the Borrowers Borrower under or pursuant to this Agreement and may (and, on the instructions of the Majority LendersBanks, will) declare all or any part of the Indebtedness (including such unpaid interest as shall have accrued and any Break Costs incurred by the Finance Parties) to be immediately payable, whereupon the Indebtedness (or the part of the Indebtedness referred to in the Agent’s notice) shall immediately become due and payable without any further demand or notice of any kind; and/or 10.1.2 12.1.2 declare that any undrawn portion of the Facility shall be cancelled, whereupon the same shall be cancelled and the corresponding Commitment of each Lender Bank shall be reduced to zero; and/or 10.1.3 12.1.3 require cash cover for the LC Amount; and/or 12.1.4 exercise any rights and remedies in existence or arising under the Security Documents.

The Agents’ Rights. If any of the events set out in Clause 10.2 12.2 occurs, the Agent may at its discretion (and, on the instructions of the Majority LendersBanks, will): 10.1.1 12.1.1 by notice to the Borrowers Borrower declare the Lenders Banks to be under no further obligation to the Borrowers Borrower under or pursuant to this Agreement and may (and, on the instructions of the Majority LendersBanks, will) declare all or any part of the Indebtedness (including such unpaid interest as shall have accrued and any Break Costs incurred by the Finance Parties) to be immediately payable, whereupon the Indebtedness (or the part of the Indebtedness referred to in the Agent’s 's notice) shall immediately become due and payable without any further demand or notice of any kind; and/or 10.1.2 12.1.2 declare that any undrawn portion of the Facility shall be cancelled, whereupon the same shall be cancelled and the corresponding Commitment of each Lender Bank shall be reduced to zero; and/or 10.1.3 12.1.3 exercise any rights and remedies in existence or arising under the Security Documents.

The Agents’ Rights. If any of the events set out in Clause 10.2 12.2 occurs, the Agent may at its discretion (and, on the instructions of the Majority LendersBanks, will): 10.1.1 12.1.1 by notice to the Borrowers Borrower declare the Lenders Banks to be under no further obligation to the Borrowers Borrower under or pursuant to this Agreement and may (and, on the instructions of the Majority LendersBanks, will) declare all or any part of the Indebtedness (including such unpaid interest as shall have accrued and any Break Costs incurred by the Finance Parties) to be immediately payable, whereupon the Indebtedness (or the part of the Indebtedness referred to in the Agent’s 's notice) shall immediately become due and payable without any further demand or notice of any kind; and/or 10.1.2 12.1.2 declare that any undrawn portion of the Facility shall be cancelled, whereupon the same shall be cancelled and the corresponding Commitment of each Lender Bank shall be reduced to zero; and/or 10.1.3 12.1.3 require cash cover for the LC Amount; and/or 12.1.4 exercise any rights and remedies in existence or arising under the Security Documents.