Consequences of an Event of Default. (a) If an Event of Default specified in subsections (a) through (l), (o), (p) or (q) of Section 7.01 shall occur and, be continuing or shall exist, then, in addition to all other rights and remedies which the Administrative Agent or any Lender may have hereunder or under any other Loan Document, at law, in equity or otherwise, the Lenders shall be under no further obligation to make Loans hereunder, and the Administrative Agent may, and, upon the written request of the Required Lenders shall, by notice to the Borrower, from time to time do any or all of the following:
(i) Declare the Commitments terminated, whereupon the Commitments will terminate and any fees hereunder shall be immediately due and payable without presentment, demand, protest or further notice of any kind, all of which are hereby waived, and an action therefor shall immediately accrue.
(ii) Declare the unpaid principal amount of the Loans, interest accrued thereon and all other obligations to be immediately due and payable without presentment, demand, protest or further notice of any kind, all of which are hereby waived, and an action therefor shall immediately accrue.
(b) If an Event of Default specified in subsection (m) or (n) of Section 7.01 shall occur or exist, then, in addition to all other rights and remedies which the Administrative Agent or any Lender may have hereunder or under any other Loan Document, at law, in equity or otherwise, the Commitments shall automatically terminate and the Lenders shall be under no further obligation to make Loans, and the unpaid principal amount of the Loans, interest accrued thereon and all other obligations shall become immediately due and payable without presentment, demand, protest or notice of any kind, all of which are hereby waived, and an action therefor shall immediately accrue.
Consequences of an Event of Default. The Borrower agrees and acknowledges that the decision of the Lender shall be final and binding on any questions or issues on point in respect of happening/non-happening of the Event of Default. Following are the consequences of an Event of Default:
a) Notwithstanding anything contrary contained in the Financing Documents, upon happening of any Event of Defaults, Growth Source, by a written notice to the Borrower may declare the Outstanding Obligations and/or any other amounts including Interest and Default Interest which may be payable by the Borrower under or in terms of the Financing Documents and/or any other agreements, documents subsisting between the Borrower and the Growth Source, to be due and upon such declaration the same shall become due and payable forthwith and the Securities and the securities in relation to any other Facility shall become enforceable. Further, the Default Interest to be borne by the Borrower shall be computed from the respective Due Dates and shall be compounded on monthly basis.
b) All costs incurred by Growth Source after an Event of Default has occurred in connection with preservation of the Property and or in collection of all amounts due under the Financing Documents may be charged to the Borrower and reimbursed, in the manner as the Lender deem fit.
c) On the occurrence of an Event of Default, Growth Source shall be entitled to communicate, in any manner it may deem fit, to or with any Person or Persons with a view to receiving assistance of such Person or Persons in recovering the defaulted amounts including but not limited to visiting the office of the Borrower and/or any place of work of the Borrower.
d) Upon happening of any Event of Default, Growth Source shall have the right to modify the Repayment Schedule in the manner as it deems fit.
e) Upon happening of any Event of Default, in addition to the rights specified in this Terms, Growth Source shall be entitled to take all or any action with or without intervention of the courts to recover all the dues and payable by the Borrower under this Terms.
f) Notwithstanding any other rights available to the Lender under this Terms or the Financing Documents, Growth Source shall be entitled to initiate criminal proceeding or any other appropriate actions against the Obligors if at any time Growth Source at its sole discretion has sufficient grounds to believe that an Obligor has made any misrepresentations and /or submitted any forged documents or fabricated data to the ...
Consequences of an Event of Default. If an Event of Default specified in Section 9.01 (Events of Default) shall occur and be continuing, the Majority Series 2023[●] Bondowners may take one or more of the following actions at any time and from time to time (regardless of whether the actions are taken at the same or different times):
(a) by written notice to the Trustee, the Authority and the City, declare the outstanding amount of the Obligations under this Agreement to be immediately due and payable without presentment, demand, protest or further notice of any kind, all of which are hereby expressly waived, and an action therefor shall immediately accrue;
(b) deliver a written notice to the Trustee, the Authority and the City that an Event of Default has occurred and is continuing and direct the Trustee and the Authority, as applicable, to cause acceleration of the Series 2023[●] Bonds or take such other remedial action as is provided for in the Indenture;
(c) by written notice to the Trustee, the Authority and the City, terminate the Commitment of the Purchasers to purchase Series 2023[●] Bonds hereunder whereupon the Commitment of the Purchasers to purchase Series 2023[●] Bonds hereunder shall be immediately terminated;
(d) either personally or by attorney or agent without bringing any action or proceeding, or by a receiver to be appointed by a court in any appropriate action or proceeding, take whatever action at law or in equity may appear necessary or desirable to collect the amounts due and payable under the Financing Documents or to enforce performance or observance of any obligation, agreement or covenant of the Authority or the City under the Financing Documents, whether for specific performance of any agreement or covenant of the Authority or the City or in aid of the execution of any power granted to the Series 2023[●] Bondowners in the Financing Documents;
(e) cure any Default, Event of Default or event of nonperformance hereunder or under any Financing Document; provided, however, that no Series 2023[●] Bondowner shall have an obligation to effect such a cure; and
(f) exercise, or cause to be exercised, any and all remedies as it may have under the Financing Documents and as otherwise available at law and at equity.
Consequences of an Event of Default. (a) If an Event of Default specified in subsections (c) through (m) of Section 7.01 of this Agreement occurs, the Issuing Banks and the Banks will be under no further obligation to make Loans or issue Letters of Credit and may at the option of the Majority Banks (i) demand the unpaid principal amount of the Notes, interest accrued on the unpaid principal amount thereof and all other amounts owing by the Borrower under this Agreement, the Notes and the other Loan Documents to be immediately due and payable without presentment, protest or further demand or notice of any kind, all of which are expressly waived, and an action for any amounts due shall accrue immediately; and (ii) require the Borrower to, and the Borrower shall thereupon, deposit in a non-interest bearing account with the Agent, as cash collateral for its obligations under the Loan Documents, an amount equal to one hundred five percent (105%) of the Letter of Credit Reserve, and the Borrower hereby pledges to the Agent and the Banks, and grants to the Agent for the benefit of the Banks a security interest in such account and all such cash as security for such obligations of the Borrower.
(b) If an Event of Default specified in subsections (a), (b), (n) or (o) of Section 7.01 of this Agreement occurs and continues or exists, the Issuing Banks and the Banks will be under no further obligation to make Loans or issue Letters of Credit and the unpaid principal amount of the Notes, interest accrued thereon and all other amounts owing by the Borrower under this Agreement, the Notes and the other Loan Documents shall automatically become immediately due and payable without presentment, demand, protest or notice of any kind, all of which are expressly waived, and an action for any amounts due shall accrue immediately.
Consequences of an Event of Default. If an Event of Default occurs under Clause 6A of this Agreement, your and IBIE’s payment and delivery obligations in respect of each Securities Loan shall be accelerated so as to require performance thereof at the time such Event of Default occurs (the date of which shall be the “ Termination Date”) so that performance of such delivery and payment obligations shall be effected only in accordance with this paragraph 8:
a. the Market Value (as defined below) of the Equivalent Securities to be delivered by IBIE and the amount of any cash to be paid by you shall be established by IBIE as of the Termination Date;
b. on the basis of the sums so established, an account shall be taken (as at the Termination Date) of what is due from each party to the other and the sums due from you shall be set off against the sums due from IBIE and only the balance of the account shall be payable (by the party having the claim valued at the lower amount pursuant to paragraph (a) above) and such balance shall be payable on the next following business day after such account has been taken and such sums have been set off in accordance with this paragraph;
c. in addition, you shall be liable to IBIE for the amount of all reasonable legal and other professional expenses incurred by IBIE in connection with or as a consequence of an Event of Default, together with interest thereon at a rate as determined by IBIE acting reasonably and notified to you. Interest will accrue daily on a compound basis; and
d. any amount payable by you pursuant to this paragraph 8 shall be an obligation that is secured by the pledge and lien granted by you pursuant to Clause 4B(i) of this Agreement. The “Market Value” of Equivalent Securities shall be the amount which, in the reasonable opinion of IBIE, represents their fair market value, having regard to such pricing sources and methods (which may include, without limitation, available prices for securities with similar maturities, terms and credit characteristics as the relevant Equivalent Securities) as IBIE considers appropriate, less all reasonable costs, commissions (including internal commissions), fees and expenses (including any mark-up or mark-down or premium paid for guaranteed delivery) incurred or reasonably anticipated in connection with the purchase or sale of such securities. For the purposes of this calculation, any sum not denominated in EUR shall be converted into EUR at the spot rate prevailing at such dates and times determined by IBIE ac...
Consequences of an Event of Default. (a) If an Event of Default, other than a bankruptcy default described in Sections 6.01(7) or (8) with respect to the Company, Parent, any Significant Restricted Subsidiary or group of Restricted Subsidiaries that taken together would constitute a Significant Restricted Subsidiary, occurs and is continuing under this Indenture, the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes then outstanding, by written notice to the Company (and to the Trustee if the notice is given by the Holders), may, and the Trustee at the request of such Holders shall, declare the principal of premium, if any, and accrued interest on the Notes to be immediately due and payable. Upon a declaration of acceleration, such principal of, premium, if any, and interest will become immediately due and payable. If a bankruptcy default described in Sections 6.01(7) or (8) occurs with respect to the Company, Parent, any Significant Restricted Subsidiary or any group of Restricted Subsidiaries that taken together would constitute a Significant Restricted Subsidiary, the principal premium, if any, of and accrued interest on the Notes then outstanding will become immediately due and payable without any declaration or other act on the part of the Trustee or any Holder.
(b) The Holders of a majority in principal amount of the outstanding Notes by written notice to the Company and to the Trustee may waive all existing and past Defaults and Events of Default and rescind and annul a declaration of acceleration and its consequences if
(1) all existing Defaults and Events of Default, other than the nonpayment of the principal of, premium, if any, and interest on the Notes other than any such Defaults or Events of Default that have become due solely by the declaration of acceleration, have been cured or waived, and
(2) the rescission would not conflict with any judgment or decree of a court of competent jurisdiction.
Consequences of an Event of Default. Notwithstanding anything to the contrary in this Agreement or any other agreement/s or documents, upon the occurrence of an Event of Default, unless such Event of Default at the request of the Borrower/s is expressly waived by the Lender, upon declaration of an Event of Default by the Lender, the Lender may, by a written notice to the Borrower/s:
a. declare the Outstanding Amounts, to be due forthwith and immediately, and upon such declaration the same shall become due and payable forthwith and immediately.
b. be entitled to communicate, in any manner as it may deem fit, to or with any Person(s) with a view to receive assistance of such Person(s) in recovering the defaulted amounts, including but not limited to visiting the place of work of the Borrower/s.
c. cancel all undrawn portions of the Loan, charge higher Interest Rate and / or demand payment of higher Monthly Installments than the original Monthly Installments or all Outstanding Amounts. Upon the receipt of such notice by the Borrower/s, such higher Monthly Installments or all Outstanding Amounts shall become due and payable by the Borrower/s on the relevant Due Dates.
d. take all such measures, in accordance with the provisions of the applicable Laws, as the Lender may in its sole discretion deem fit and proper to recover the dues from the Borrower/s.
Consequences of an Event of Default. If any Event of Default shall occur and be continuing or shall exist, Lender shall be under no further obligation to make Advances hereunder, any remaining commitment hereunder shall immediately terminate, with no further notice, and Lender may, by notice to Borrower, declare the unpaid principal amount of each Note, interest accrued thereon and all other amounts owing by Borrower hereunder or under each Note to be immediately due and payable without presentment, demand, protest or further notice of any kind, all of which are hereby expressly waived, and an action therefor shall immediately accrue. Such consequences shall occur automatically upon the occurrence of an Event of Default under SECTION 9.01 (h), (i), (j) OR (k), without any notice or demand. Upon the occurrence of an Event of Default, Lender may, in its sole discretion, exercise any and all remedies available to it under this ARTICLE 9 or under any of the Loan Documents or under applicable law without further notice or period of grace or opportunity to cure.
Consequences of an Event of Default. If an Event of Default specified in Section 6.01 shall occur and continue after the expiration of applicable notice and grace periods, if any, set forth therein, Creditor may, by notice to Borrower, declare the unpaid principal amount of the Note and all other amounts owing by Borrower hereunder or under the Note or the other Loan Documents to be immediately due and payable without presentment, demand, protest or further notice of any kind, all of which are hereby expressly waived, and an action therefor shall immediately accrue.
Consequences of an Event of Default. If an Event of Default, other than a bankruptcy default with respect to any Issuer, occurs and is continuing under the indenture, the Trustee or the holders of at least 25% in aggregate principal amount of the notes then outstanding, by written notice to the Main Issuer (and to the Trustee if the notice is given by the holders), may declare the principal of and accrued interest on the notes to be immediately due and payable. Upon a declaration of acceleration, such principal and accrued interest will become immediately due and payable. If a bankruptcy default occurs with respect to the Main Issuer, Co-Issuer or any other Subsidiary that is a Significant Subsidiary, the principal of and accrued interest on the notes then outstanding will become immediately due and payable without any declaration or other act on the part of the Trustee or any holder. Without limiting the generality of the foregoing, it is understood and agreed that if the notes are accelerated or otherwise become due prior to their stated maturity, in each case, as a result of an Event of Default (including, without limitation, an Event of Default under clause (7) of the definition thereof (including the acceleration of any portion of the notes by operation of law)), the greater of (i) the Applicable Premium and (ii) the amount by which the applicable redemption price set forth in the table under “—Optional Redemption” exceeds the principal amount of the notes (the “Redemption Price Premium”), as applicable, with respect to an optional redemption of the notes shall also be due and payable as though the notes had been optionally redeemed on the date of such acceleration and shall constitute part of the Obligations with respect to the notes in view of the impracticability and difficulty of ascertaining actual damages and by mutual agreement of the parties as to a reasonable calculation of each holder’s lost profits as a result thereof. If the Redemption Price Premium becomes due and payable, it shall be deemed to be principal of the notes, including for purposes of a Wilpinjong Mandatory Offer, and interest shall accrue on the full principal amount of the notes (including the Redemption Price Premium) from and after the applicable triggering event, including in connection with an Event of Default specified under clause (7) of the definition thereof. Any Redemption Price Premium payable above shall be presumed to be liquidated damages sustained by each holder as the result of the acceleration o...
