Common use of Acceleration and Termination of Rights Clause in Contracts

Acceleration and Termination of Rights. (1) If any Event of Default occurs, the Lenders shall be under no further obligation to make Advances and the Agent, on the instructions of the Required Lenders, may give notice to the Borrower (a) declaring the Lenders' obligations to make Advances to be terminated, in which case they shall terminate immediately, and/or (b) declaring the Obligations or any of them to be due and payable, in which case they shall be immediately due and payable without presentment, demand, protest or further notice of any kind, all of which are expressly waived by the Borrower. (2) Notwithstanding Section 7.2(1), upon the occurrence of an Event of Default in Sections 7.1(k), 7.1(l) or 7.1(m), then without prejudice to the other rights of the Lenders, without any notice or action of any kind by the Agent or the Lenders, and without presentment, demand or protest, the Lenders' obligation to make Advances shall immediately terminate and the Obligations shall immediately become due and payable.

Acceleration and Termination of Rights. (1) If any Event of Default occurs, the Lenders shall be under no further obligation to make Advances and the Agent, on the instructions of the Required Lenders, may give notice to the Borrower (a) declaring the Lenders' ’ obligations to make Advances to be terminated, in which case they shall terminate immediately, and/or (b) declaring the Obligations or any of them to be due and payable, in which case they shall be immediately due and payable without presentment, demand, protest or further notice of any kind, all of which are expressly waived by the Borrower. (2) Notwithstanding Section 7.2(1), upon the occurrence of an Event of Default in Sections 7.1(k7.1(1), 7.1(l7.1(m) or 7.1(m7.1(n), then without prejudice to the other rights of the Lenders, without any notice or action of any kind by the Agent or the Lenders, and without presentment, demand or protest, the Lenders' ’ obligation to make Advances shall immediately terminate and the Obligations shall immediately become due and payable.

Acceleration and Termination of Rights. (1) If any Event of Default occursoccurs and is continuing, the Lenders shall be under no further obligation to make Advances and the Agent, on Required Lenders may instruct the instructions of the Required Lenders, may Agent to give notice to the Borrower (a) declaring the Lenders' obligations to make Advances to be terminated, in which case they shall terminate immediately, and/or (b) declaring the Obligations or any of them to be due and payable, in which case they shall be immediately due and payable without presentment, demand, protest or further notice of any kind, all of which are expressly waived by the Borrower. (2) Notwithstanding Section 7.2(1), upon the occurrence of an Event of Default in Sections 7.1(k), 7.1(l) or 7.1(m), then without prejudice to the other rights of the Lenders, without any notice or action of any kind by the Agent or the Lenders, and without presentment, demand or protest, the Lenders' obligation to make Advances shall immediately terminate and the Obligations shall immediately become due and payable.