Acceleration of Series 2017-2 Notes Clause Samples

Acceleration of Series 2017-2 Notes. An Event of Default for Series 2017-2 occurs and the Series 2017-2 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 2017-2 Noteholders of a majority of the Note Balance of the Series 2017-2 Notes by notifying the Depositors and the Servicer (and to the Indenture Trustee if given by the Series 2017-2 Noteholders) may declare that an Amortization Event for the Series 2017-2 Notes (a “Series 2017-2 Amortization Event”) has occurred. If an event described in subsections (d) through (h) above occurs, a Series 2017-2 Amortization Event will occur immediately without any notice or other action by the Indenture Trustee or the Series 2017-2 Noteholders.
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Related to Acceleration of Series 2017-2 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.

  • Automatic Acceleration of Maturity If any Event of Default pursuant to Section 7.1(g) shall occur: (a) the obligation of each Lender to make Advances and the obligation of the Issuing Lender to issue Letters of Credit shall immediately and automatically be terminated and the Obligations, the Notes, all interest on the Notes, and all other amounts payable under this Agreement shall immediately and automatically become and be due and payable in full, without presentment, demand, protest or any 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 each of the Credit Parties, (b) the Borrower shall, on demand of the Administrative Agent at the request or with the consent of the Majority Lenders, deposit with the Administrative Agent into the Cash Collateral Account an amount of cash equal to the outstanding Letter of Credit Exposure as security for the Secured Obligations to the extent the Letter of Credit Obligations are not otherwise paid or Cash Collateralized at such time, and (c) the Administrative Agent shall at the request of, or may with the consent of, the Majority Lenders proceed to enforce its rights and remedies under the Security Documents, the Guaranties, or any other Credit Document for the ratable benefit of the Secured Parties by appropriate proceedings.

  • 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.