Common use of Accelerations Clause in Contracts

Accelerations. The Agent may after consultation with the Banks, and on the instruction of the Banks shall, without prejudice to any of the Banks' other rights, at any time after the happening of an Event of Default by notice to the Borrower declare that a) the obligation of the Banks to make the Loan available shall be terminated forthwith and/or b) the Loan and all interest and cost accrued and all other sums payable under this Agreement and the Security Documents have become due and payable whereupon the same shall immediately or in accordance with such notice become due.

Accelerations. The Agent may after consultation with the Banks, and on the instruction of the Banks shall, without prejudice to any of the Banks' ’ other rights, at any time after the happening of an Event of Default by notice to the Borrower declare that a) the obligation of the Banks to make the Loan available shall be terminated forthwith and/or b) the Loan and all interest and cost accrued and all other sums payable under this Agreement and the Security Documents have become due and payable whereupon the same shall immediately or in accordance with such notice become due.