Acceleration Rights Clause Samples
Acceleration Rights. Remedies. If an Event of Default, other than an Event of Default under Sections 7.05 or 7.09, shall exist at any time that any Senior Debt under the Credit Agreement shall be outstanding or there shall exist any obligation of any Bank to make any loan or advance thereunder, no Lender nor any other holder of the Notes shall take any action, judicial or otherwise, to accelerate or collect payment on the Subordinated Obligations or to pursue any other remedy with respect to the Subordinated Obligations (including, without limitation, commencing or joining with any other creditor of the Borrower in commencing any proceeding in bankruptcy) prior to the earlier of (i) the expiration of 30 days immediately following such Event of Default, (ii) the acceleration of the Senior Debt under the Credit Agreement, (iii) the payment in full of all outstanding Senior Debt under the Credit Agreement, (iv) the express waiver or amendment by or on behalf of the Banks under the Credit Agreement of the restrictions, during such standstill period, on asset sales or dispositions by the Borrower or any of its Subsidiaries so as to permit the Borrower or any of its Subsidiaries to transfer or apply the net proceeds from such asset sales or dispositions to or for the benefit of any holders of Indebtedness of the Borrower other than to repay obligations under the Credit Agreement, (v) the express waiver or amendment, during such standstill period, by or on behalf of the Banks under the Credit Agreement of the prohibition on the creation of Liens on property, revenue or assets of the Borrower or any of its Subsidiaries so as to permit the creation of Liens (including without limitation judgment Liens) securing payment of Indebtedness of the Borrower or any of its Subsidiaries which ranks pari passu with the Notes or is subordinate or junior in right of payment to the Notes or (vi) such time as holders of a majority of the outstanding Senior Debt consent in writing to the termination of the standstill period, but such action may only be taken if at the end of such period such Event of Default has not been cured or waived; provided, that any amount received by any of the Lenders as a result of any acceleration permitted above prior to payment in full of the Senior Debt under the Credit Agreement shall be paid to the Banks in accordance with the provisions of this Section 9.
Acceleration Rights. Upon the commencement of an action by the ------------------- Company to obtain shareholder approval of an offer from a person or entity unaffiliated with the Lender and unaffiliated with ▇▇▇▇▇▇▇ Capital AS that would result in a Change of Control (as defined below), Lender may cause the acceleration of the Note so that all of the remaining outstanding and unconverted principal is due within ten (10) days of the closing of the transaction constituting a Change of Control. For purposes of this Agreement, a "Change of Control" shall mean a transaction in which (i) any person or group of persons that was not previously a majority shareholder of the Company becomes the beneficial owner, directly or indirectly, of securities of the Company representing a majority of the combined voting power of the Company's then-outstanding securities or (ii) the Company sells, transfers, leases, exchanges or disposes of at least eighty-five percent (85%) of its assets.
Acceleration Rights. Upon the occurrence and continuance of an Event of Default with respect to the IQ Notes, the Trustee may, with the consent of the Insurer, and shall, at the direction of the Insurer or not less than 25% of the Holders with the consent of the Insurer, by written notice to the Company and the Insurer, declare the principal of the IQ Notes to be immediately due and payable, whereupon that portion of the principal of the IQ Notes thereby coming due and the interest thereon accrued to the date of payment shall, without further action, become and be immediately due and payable.
Acceleration Rights. In the event the VWAP at any time following the Closing Date is equal to or greater than $3.75 for a period of ten
Acceleration Rights. Upon the occurrence of an Event of Default, the Trustee may, with the consent of the Bond Insurer, and shall, at the direction of the Bond Insurer or 25% of the Bondholders with the consent of the Bond Insurer, by written notice to the Company and the Bond Insurer, declare the principal of the Bonds to be immediately due and payable, whereupon that portion of the principal of the Bonds thereby coming due and the interest thereon accrued to the date of payment shall, without further action, become and be immediately due and payable, anything in this Agreement or in the Bonds to the contrary notwithstanding.
Acceleration Rights. Upon the occurrence of an EVENT OF DEFAULT, the LENDER shall have the immediate right to elect to accelerate the payment of all OBLIGATIONS and to demand payment therefor from the GUARANTORS without regard as to whether the obligations of the BORROWERS under the LOAN DOCUMENTS have been accelerated, are in default, or are being paid as agreed by the BORROWERS in accordance with the terms of the LOAN DOCUMENTS.
Acceleration Rights. On and at any time after the occurrence of an Event of Default or an Event of Mandatory Prepayment which is continuing the Investment Agent may, and shall if so directed by the Majority Participants, by notice to the Company:
(a) cancel the Istisna’ Facility and the Available Facility whereupon they shall immediately be cancelled;
(b) declare that the Company is no longer entitled to submit the Offer Letter;
Acceleration Rights. Customer has requested, and Boeing has agreed to provide, delivery *** in the form of *** in respect of 787-*** Aircraft and any *** Aircraft resulting from an aircraft *** pursuant to the terms of Letter Agreement No. UAL-PA-04815-LA-1802885R1 that are contracted for scheduled delivery after *** Aircraft). Boeing will provide *** in respect of *** Aircraft subject to the terms and conditions contained in this Letter Agreement.
Acceleration Rights. Without prejudice to any other rights of the Lenders (whether under the Transaction Documents or otherwise), at any time after the occurrence of a Termination Event and thereafter for so long as any Termination Event is continuing, the Agent may (acting upon the instructions of the Majority Lenders) give a written notice (an "ACCELERATION NOTICE") to the Borrower declaring that a Termination Event has occurred, in which case:-
(a) each Loan shall be cancelled forthwith whereupon the same shall be cancelled and the Commitment of each Lender in respect of each Aircraft shall be reduced to zero; and/or
(b) the principal amount of each Loan then outstanding and all interest accrued thereon, Expenses (if any) and the Make-Whole Amount in respect of each Loan (which shall be specified in such notice) shall become immediately due and payable and the Borrower shall immediately pay the same; and/or
(c) each of the Representatives may enforce its rights and those of the Lenders under all or any of the Transaction Documents and under applicable law.
Acceleration Rights. Notwithstanding anything contained in ------------------- the Subordinated Note to the contrary, the Subordinating Creditor shall have no right to accelerate the Subordinated Debt, except that the Subordinating Creditor may accelerate and Commence Legal Action in the event that:
(a) (i) the Company has failed to make an installment payment of interest or principal to the Subordinating Creditor under the Subordinated Note; or (ii) there shall have occurred an Event of Default in respect of a default under Section 7 of the Purchase Note or Section 3 of the Contingent Note; or (iii) the Subordinated Creditor has become entitled to require the Company to repay the Purchase Note pursuant to the provisions of Section 9 of the Purchase Note; or (iv) an amendment is made to the Financing Agreement or the Senior Subordinated Credit Agreement in violation of the proviso to Section 7 hereof and, in any such case, the Subordinating Creditor shall have notified the Senior Lenders of the occurrence of such event and none of the Senior Lenders shall have sent