Automatic Defaults. If any Event of Default referred to in Section 8.13 hereof shall occur: (a) all of the Commitments and the credits hereby established shall automatically and immediately terminate, if not previously terminated, and no Lender thereafter shall be under any obligation to grant any further Loan, nor shall Agent be obligated to issue any Letter of Credit hereunder, and (b) the principal of and interest then outstanding on all Notes, and all of the Secured Debt to the Lenders, shall thereupon become and thereafter be immediately due and payable in full (if the Secured Debt is not already due and payable), all without any presentment, demand or notice of any kind, which are hereby waived by each Credit Party.
Appears in 5 contracts
Sources: Third Amendment Agreement (Ultralife Corp), Credit and Security Agreement, Credit and Security Agreement (Ultralife Corp)
Automatic Defaults. If any Event of Default referred to in Section 8.13 7.11 hereof shall occur:
(a) all of the Commitments Commitment and the credits hereby established shall automatically and immediately terminate, if not previously terminated, and no Lender Bank thereafter shall be under any obligation to grant any further Loan, nor shall Agent the Fronting Bank be obligated to issue any Letter of Credit hereunder, and
(b) the principal of outstanding principal, interest and interest then outstanding any other amounts on all of the Notes, and all of the Secured other Debt to the LendersBanks, shall thereupon become and thereafter be immediately due and payable in full (if the Secured Debt is not already due and payable), all without any presentment, demand or notice of any kind, which are hereby waived by each Credit PartyBorrower.
Appears in 3 contracts
Sources: Credit Agreement (Davey Tree Expert Co), Credit Agreement (Davey Tree Expert Co), Credit Agreement (Davey Tree Expert Co)
Automatic Defaults. If any Event of Default referred to in Section 8.13 7.12 hereof shall occur:
(a) all of the Commitments Commitment and the credits hereby established shall automatically and immediately terminate, if not previously terminated, and no Lender Bank thereafter shall be under any obligation to grant any further Loan, nor shall Agent be obligated to issue any Letter of Credit Loan hereunder, and
(b) the principal of and interest then outstanding on all Notes, and all of the Secured Debt to the LendersBanks, shall thereupon become and thereafter be immediately due and payable in full (if the Secured Debt is not already due and payable), all without any presentment, demand or notice of any kind, which are hereby waived by each Credit PartyBorrower.
Appears in 2 contracts
Sources: Credit Agreement (Park Ohio Industries Inc/Oh), Credit Agreement (Park Ohio Holdings Corp)
Automatic Defaults. If any Event of Default referred to in Section 8.13 7.11 hereof shall occur:
(a) all of the Commitments Commitment and the credits hereby established shall automatically and immediately terminate, if not previously terminated, and no Lender Bank thereafter shall be under any obligation to grant any further Loan, nor shall Agent be obligated to issue any Letter of Credit hereunder, and
(b) the principal of outstanding principal, interest and interest then outstanding any other amounts on all of the Notes, and all of the Secured other Debt to the LendersBanks, shall thereupon become and thereafter be immediately due and payable in full (if the Secured Debt is not already due and payable), all without any presentment, demand or notice of any kind, which are hereby waived by each Credit PartyBorrower.
Appears in 2 contracts
Sources: Credit Agreement (Davey Tree Expert Co), Credit Agreement (Davey Tree Expert Co)
Automatic Defaults. If any Event of Default referred to in Section 8.13 7.11 hereof shall occur:
(a) all of the Commitments Commitment and the credits hereby established shall automatically and immediately terminate, if not previously theretofore terminated, and no Lender Bank thereafter shall be under any obligation to grant any further LoanLoan or Loans hereunder, nor shall Agent be obligated to issue any Letter of Credit hereunder, and
(b) the principal of and interest on any Notes then outstanding on all Notesoutstanding, and all of the Secured Debt to the Lenders, shall thereupon become and thereafter be immediately due and payable in full (if the Secured Debt is it be not already due and payable), all without any presentment, demand or notice of any kind, which are hereby waived by each Credit PartyBorrower.
Appears in 2 contracts
Sources: Credit Agreement (Amcast Industrial Corp), Credit Agreement (Amcast Industrial Corp)
Automatic Defaults. If any Event of Default referred to in Section 8.13 7.10 hereof shall occur:
(a) all of the Commitments Commitment and the credits hereby established shall automatically and immediately terminate, if not previously terminated, and no Lender Bank thereafter shall be under any obligation to grant any further Loan, nor shall Agent be obligated to issue make any Letter of Credit Swing Loan hereunder, and
(b) the principal of principal, interest and interest any other amounts then outstanding on all of the Notes, and all of the Secured Debt to the Lendersother Debt, shall thereupon become and thereafter be immediately due and payable in full (if the Secured Debt is not already due and payable), all without any presentment, demand or notice of any kind, which are hereby waived by each Credit PartyBorrower.
Appears in 2 contracts
Sources: Credit Agreement (Nordson Corp), Credit Agreement (Nordson Corp)
Automatic Defaults. If any Event of Default referred to in Section 8.13 7.10 hereof shall occur:
(a) all of the Commitments Commitment and the credits hereby established shall automatically and immediately terminate, if not previously terminated, and no Lender Bank thereafter shall be under any obligation to grant any further Loan, nor shall Agent be obligated to issue any Letter of Credit Loan hereunder, and
(b) the principal of and interest then outstanding on all Notes, and all of the Secured Debt to the LendersBanks, shall thereupon become and thereafter be immediately due and payable in full (if the Secured Debt is not already due and payable), all without any presentment, demand or notice of any kind, which are hereby waived by each Credit PartyBorrower.
Appears in 2 contracts
Sources: Credit Agreement (Steris Corp), Credit Agreement (Steris Corp)
Automatic Defaults. If any Event of Default referred to in Section 8.13 8.11 hereof shall occur:
(a) all of the Commitments Commitment and the credits hereby established shall automatically and immediately terminate, if not previously terminated, and no Lender Bank thereafter shall be under any obligation to grant any further Loan, nor shall Agent be obligated to issue any Letter of Credit hereunder, and
(b) the principal of and interest then outstanding on all Notes, and all of the Secured Debt to the LendersBanks, shall thereupon become and thereafter be immediately due and payable in full (if the Secured Debt is not already due and payable), all without any presentment, demand or notice of any kind, which are hereby waived by each Credit PartyBorrower.
Appears in 1 contract
Automatic Defaults. If any Event of Default referred to in Section 8.13 7.11 hereof shall occur:
: (a) all of the Commitments Commitment and the credits hereby established shall automatically and immediately terminate, if not previously terminated, and no Lender Bank thereafter shall be under any obligation to grant any further Loan, nor shall Agent the Fronting Bank be obligated to issue any Letter of Credit hereunder, and
and (b) the principal of outstanding principal, interest and interest then outstanding any other amounts on all of the Notes, and all of the Secured other Debt to the LendersBanks, shall thereupon become and thereafter be immediately due and payable in full (if the Secured Debt is not already due and payable), all without any presentment, demand or notice of any kind, which are hereby waived by each Credit PartyBorrower.
Appears in 1 contract
Automatic Defaults. If any Event of Default referred to in Section 8.13 8.11 hereof shall occur:
(a) all of the Commitments Commitment and the credits hereby established shall automatically and immediately terminate, if not previously theretofore terminated, and no Lender thereafter shall not be under any obligation to grant any further LoanLoan or Loans hereunder, nor shall Agent Lender be obligated to issue any Letter of Credit hereunder, and
(b) the principal of and interest then outstanding on all any Notes, and all of the Secured Debt to the LendersDebt, shall thereupon become and thereafter be immediately due and payable in full (if the Secured Debt is it be not already due and payable), all without any presentment, demand or notice of any kind, which are hereby waived by each Credit PartyBorrower.
Appears in 1 contract
Sources: Credit and Security Agreement (Aircraft Service International Group Inc)
Automatic Defaults. If any Event of Default referred to in Section 8.13 7.13 hereof shall occur:
(a) all of the Commitments Commitment and the credits hereby established shall automatically and immediately terminate, if not previously terminated, and no neither the Global Agent nor any Lender thereafter shall be under any obligation to grant any further Loan, nor shall Agent the Fronting Lender be obligated to issue any Letter of Credit hereunder, and
(b) the principal of and interest then outstanding on all of the Notes, and all of the Secured Debt to the Lendersother Debt, shall thereupon become and thereafter be immediately due and payable in full (if the Secured Debt is not already due and payable), all without any presentment, demand or notice of any kind, which are hereby waived by each Credit PartyBorrower.
Appears in 1 contract
Automatic Defaults. If any Event of Default referred to in Section 8.13 8.12 hereof shall occuroccur and be continuing:
(a) all of the Commitments and the credits hereby established shall automatically and immediately terminate, if not previously terminated, and no Lender Bank thereafter shall not be under any obligation to grant any further Loan, nor shall Agent be obligated Loan or to issue any Letter of Credit hereunderCredit, and
(b) the principal of and interest then outstanding on all Notes, and all of the Secured Debt to the LendersBank, shall thereupon become and thereafter be immediately due and payable in full (if the Secured Debt is not already due and payable), all without any presentment, demand or notice of any kind, which are hereby waived by each Credit PartyBorrower.
Appears in 1 contract
Sources: Credit and Security Agreement (Ctpartners Executive Search LLC)
Automatic Defaults. If any Event of Default referred to in Section 8.13 7.10 hereof shall occur:
(a) all of the Commitments Commitment and the credits hereby established shall automatically and immediately terminate, if not previously theretofore terminated, and no Lender Bank thereafter shall be under any obligation to grant any further LoanLoan or Loans hereunder, nor shall Agent be obligated to issue any Letter of Credit hereunder, and
(b) the principal of and interest on any Notes then outstanding on all Notesoutstanding, and all of the Secured Debt to the LendersBanks, shall thereupon become and thereafter be immediately due and payable in full (if the Secured Debt is it be not already due and payable), all without any presentment, demand or notice of any kind, which are hereby waived by each Credit PartyBorrower.
Appears in 1 contract
Automatic Defaults. If any Event of Default referred to in Section 8.13 8.12 hereof shall occur:
(a) all of the Commitments and the credits hereby established shall automatically and immediately terminate, if not previously terminated, and no Lender thereafter shall be under any obligation to grant any further Loan, nor shall Agent be obligated to issue any Letter of Credit hereunder, and
(b) the principal of and interest then outstanding on all Notes, and all of the Secured Debt to the Lenders, shall thereupon become and thereafter be immediately due and payable in full (if the Secured Debt is not already due and payable), all without any presentment, demand or notice of any kind, which are hereby waived by each Credit Party.
Appears in 1 contract
Automatic Defaults. If any Event of Default referred to in Section 8.13 7.11 hereof shall occur:
(a) all of the Commitments Commitment and the credits hereby established shall automatically and immediately terminate, if not previously theretofore terminated, and no Lender Bank thereafter shall be under any obligation to grant any further Loan, nor shall Agent (or a Fronting Bank) be obligated to issue any Letter of Credit hereunder, and
(b) the principal of and interest then outstanding on all Notes, and all of the Secured Debt to the LendersBanks, shall thereupon become and thereafter be immediately due and payable in full (if the Secured Debt is it be not already due and payable), all without any presentment, demand or notice of any kind, which are hereby waived by each Credit PartyBorrower.
Appears in 1 contract
Sources: Credit Agreement (Oglebay Norton Co)
Automatic Defaults. If any Event of Default referred to in Section 8.13 7.11 hereof shall occur:
(a) all of the Commitments Commitment and the credits hereby established shall automatically and immediately terminate, if not previously terminated, and no Lender Bank thereafter shall be under any obligation to grant any further Loan, nor shall Agent (or a Fronting Bank) be obligated to issue any Letter of Credit hereunder, and
(b) the principal of and interest then outstanding on all Notes, and all of the Secured Debt to the LendersBanks, shall thereupon become and thereafter be immediately due and payable in full (if the Secured Debt is not already due and payable), all without any presentment, demand or notice of any kind, which are hereby waived by each Credit PartyBorrower.
Appears in 1 contract