Acceleration of Series 20    -     Notes Sample Clauses

The 'Acceleration of Series 20__-__ Notes' clause allows for the immediate maturity of a specific series of notes before their scheduled due date, typically in response to certain triggering events such as default or breach of contract. In practice, this means that if the issuer fails to meet agreed-upon obligations, all outstanding amounts under the affected series become due and payable at once, rather than following the original payment schedule. This clause serves to protect noteholders by enabling them to demand prompt repayment in adverse situations, thereby mitigating the risk of prolonged exposure to a defaulting issuer.
Acceleration of Series 20    -     Notes. An Event of Default for Series 20__-__ occurs and the Series 20__-__ Notes are accelerated under Section 5.2 of the Indenture. If an event described in subsections (a) through (c) above occurs and is continuing, either the Indenture Trustee or the Series 20__-__ Noteholders of a majority of the Note Balance of the Series 20__-__ Notes by notifying the Depositors and the Servicer (and to the Indenture Trustee if given by the Series 20__-__ Noteholders) may declare that an Amortization Event for the Series 20__-__ Notes (a "Series 20__-__ Amortization Event") has occurred. If an event described in subsections (d) through (h) above occurs, a Series 20__-__ Amortization Event will occur immediately without any notice or other action by the Indenture Trustee or the Series 20__-__ Noteholders.
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Related to Acceleration of Series 20    -     Notes

  • Elimination of Series At any time that there are no Shares outstanding of a Series (or class), the Trustees may abolish such Series (or class).

  • Acceleration of Notes If payment of the Notes is accelerated because of an Event of Default, the Company shall promptly notify holders of Senior Debt of the acceleration.

  • Suspension; Acceleration of Maturity Section 5.01. The following is specified as an additional event for suspension of the right of the Borrower to make withdrawals from the Loan Account for the purposes of Section 8.01(m) of the Loan Regulations: the Borrower shall have failed to perform any of its obligations under the Ordinary Operations Loan Agreement. Section 5.02. The following is specified as an additional event for acceleration of maturity for the purposes of Section 8.07(d) of the Loan Regulations: the event specified in Section 5.01 of this Loan Agreement shall have occurred.

  • Acceleration of Maturity If an Event of Default shall have occurred and be continuing, then the entire Secured Obligations secured hereby shall, at the option of Agent and as permitted by the terms of the Credit Agreement, immediately become due and payable without notice or demand except as required by law, time being of the essence of this Instrument.

  • Optional Acceleration of Maturity If any Event of Default (other than an Event of Default pursuant to paragraph (f) of Section 8.01 with respect to the Borrower or the Parent) shall have occurred and be continuing, then, and in any such event, (a) the Administrative Agent (i) shall at the request, or may with the consent, of the Required Lenders, by notice to the Borrower, declare the obligation of each Bank to make Advances and the obligation of each Issuing Bank to issue, increase, or extend Letters of Credit to be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or may with the consent, of the Required Lenders, by notice to the Borrower, declare the Notes, all interest thereon, the Letter of Credit Obligations, and all other amounts payable under this Agreement to be forthwith due and payable, whereupon the Notes, all such interest, all such Letter of Credit Obligations and all such amounts shall become and be forthwith due and payable in full, without presentment, demand, protest or further notice of any kind (including, without limitation, any notice of intent to accelerate or notice of acceleration), all of which are hereby expressly waived by the Borrower, (b) the Borrower shall, on demand of the Administrative Agent at the request or with the consent of the Required Lenders, deposit into the Cash Collateral Account an amount of cash equal to the Letter of Credit Exposure as security for the Obligations to the extent the Letter of Credit Obligations are not otherwise paid at such time, and (c) the Administrative Agent shall at the request of, or may with the consent of, the Required Lenders proceed to enforce its rights and remedies under the Credit Documents for the ratable benefit of the Banks by appropriate proceedings.