Common use of Consequences of an Event of Default Clause in Contracts

Consequences of an Event of Default. If an Event of Default specified in Section 10.01 hereof shall occur and be continuing, then, and in every such event (other than an event with respect to the Borrowers described in clause (g) or (h) of Section 10.01) upon notice from the Lender to the Borrowers, the Facility provided by this Agreement shall immediately terminate, and the Outstanding Loans, together with accrued and unpaid interest thereon, and all other Obligations, shall immediately become due and payable, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrowers; and in case of any event with respect to the Borrowers described in clause (g) or (h) of Section 10.01, the Facility provided by this Agreement shall automatically and immediately terminate, and the Outstanding Loans, together with accrued and unpaid interest thereon, and all other Obligations, shall immediately become due and payable, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrowers. Further, if an Event of Default specified in Section 10.01 hereof shall occur and be continuing, then, and in every such event the Lender shall have the right to collect, receive, appropriate or realize upon the Collateral or otherwise foreclose or enforce Lender’s security interests in any or all Collateral in any manner permitted by the Security Agreement.

Consequences of an Event of Default. (a) If an Event of Default specified in Section 10.01 hereof shall occur and be continuing, then, and in every such event subsections (other than an event with respect to the Borrowers described in clause a) through (gj) or (hm) of through (p) of Section 10.01) upon notice from the Lender to the Borrowers7.01 of this Agreement occurs and continues or exists, the Facility Agent and each Bank will be under no further obligation to make Loans and, upon the written consent of the Banks holding 75% of the Credit Exposures of all of the Banks (provided by this Agreement shall immediately terminatethat such 75% includes the Agent and at least one other Bank), and the Outstanding LoansAgent, together with on behalf of the Banks, may demand the unpaid principal amount of the Notes, interest accrued and on the unpaid interest thereon, principal amount and all other Obligationsamounts owing by the Borrower under this Agreement, shall the Notes, the Security Agreements and the other Loan Documents to be immediately become due and payable, payable without presentment, demand, protest or other further notice of any kind, all of which are hereby waived by the Borrowers; expressly waived, and an action for any amounts due shall accrue immediately. (b) If an Event of Default specified in case of any event with respect to the Borrowers described in clause subsections (gk) or (hl) of Section 10.017.01 of this Agreement occurs and continues or exists, the Facility provided by this Agreement shall automatically Agent and immediately terminate, each Bank will be under no further obligation to make Loans and the Outstanding Loansunpaid principal amount of the Notes, together with interest accrued and on the unpaid interest thereon, principal amount and all other Obligationsamounts owing by the Borrower under this Agreement, the Notes, the Security Agreements and the other Loan Documents shall become immediately become due and payable, payable without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrowers. Further, if an Event of Default specified in Section 10.01 hereof shall occur and be continuing, thenexpressly waived, and in every such event the Lender an action for any amounts due shall have the right to collect, receive, appropriate or realize upon the Collateral or otherwise foreclose or enforce Lender’s security interests in any or all Collateral in any manner permitted by the Security Agreementaccrue immediately.

Consequences of an Event of Default. (a) If an Event of Default specified in subsections (b) through (n) of Section 10.01 hereof shall occur and be continuing, then, and in every such event (other than an event with respect to the Borrowers described in clause (g) or (h) of Section 10.01) upon notice from the Lender to the Borrowers7.01 of this Agreement occurs, the Facility provided by this Agreement shall immediately terminateBank will be under no further obligation to make Loans and may at its option demand the unpaid principal amount of the Notes, and interest accrued on the Outstanding Loans, together with accrued and unpaid interest thereon, principal amount and all other Obligationsamounts owing by the Borrowers under this Agreement, shall the Notes and the other Loan Documents to be immediately become due and payable, payable without presentment, demand, protest or other further notice of any kind, all of which are hereby waived by the Borrowers; expressly waived, and an action for any amounts due shall accrue immediately. (b) If an Event of Default specified in case of any event with respect to the Borrowers described in clause subsections (ga), (o) or (hp) of Section 10.017.01 of this Agreement occurs and continues or exists, the Facility provided by this Agreement shall automatically and immediately terminate, Bank will be under no further obligation to make Loans and the Outstanding Loansunpaid principal amount of the Notes, together with interest accrued and on the unpaid interest thereon, principal amount of the Notes and all other Obligationsamounts owing by the Borrowers under this Agreement, the Notes and the other Loan Documents shall automatically become immediately become due and payable, payable without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrowers. Further, if an Event of Default specified in Section 10.01 hereof shall occur and be continuing, thenexpressly waived, and in every such event the Lender an action for any amounts due shall have the right to collect, receive, appropriate or realize upon the Collateral or otherwise foreclose or enforce Lender’s security interests in any or all Collateral in any manner permitted by the Security Agreementaccrue immediately.

Consequences of an Event of Default. If an one or more of the Events of ----------------------------------- Default occur then (a) if such Event of Default specified is set forth in Section 10.01 hereof shall occur and be continuing, then, and in every such event (other than an event with respect to the Borrowers described in clause (g) Sections 7.3 or (h) of Section 10.01) upon notice from the Lender to the Borrowers7.4, the Facility provided by this Agreement Commitments shall immediately terminate, automatically terminate and the Outstanding Loans, together with accrued and unpaid interest thereon, and all other Obligations, Notes then outstanding shall become immediately become due and payable, without presentment, necessity of demand, protest or other presentation, protest, notice of any kind, all dishonor or notice of which are hereby waived by the Borrowers; and in case of any event with respect to the Borrowers described in clause (g) or (h) of Section 10.01, the Facility provided by this Agreement shall automatically and immediately terminatedefault, and the Outstanding LoansAgent shall be under no further obligation to issue, together with renew, extend or amend Letters of Credit hereunder; or (b) if such Event of Default is set forth in any of the remaining Sections of this Article VII, then the Agent, at the request of the Required Lenders, and without notice to the Borrower, shall declare the Borrower in default hereunder, and upon such declaration, shall, at the request of the Required Lenders, terminate the Commitments and/or terminate the obligation of the Agent to issue, renew, extend or amend Letters of Credit and/or declare the unpaid principal amount of the Notes then outstanding and all interest accrued and unpaid interest thereon, any unpaid Fees and all other Obligations, shall Bank Indebtedness immediately become due and payable, without presentment, necessity of any further demand, protest or other presentation, protest, notice of any kinddishonor or further notice of default, all of which are hereby waived by the Borrowers. Further, if an Event of Default specified in Section 10.01 hereof whereupon such amounts shall occur be immediately due and be continuing, then, and in every such event the Lender shall have the right to collect, receive, appropriate or realize upon the Collateral or otherwise foreclose or enforce Lender’s security interests in any or all Collateral in any manner permitted by the Security Agreementpayable.

Consequences of an Event of Default. If an Event of Default specified in subsections (a) through (l) of Section 10.01 hereof shall occur 7.01 of this Agreement occurs and be continuingcontinues or exists, then, and in every such event (other than an event with respect to the Borrowers described in clause (g) or (h) of Section 10.01) upon notice from the Lender will be under no further obligation to make Loans and may at its option demand the Borrowersunpaid principal amount of the Note, interest accrued on the Facility provided by this Agreement shall immediately terminate, and the Outstanding Loans, together with accrued and unpaid interest thereon, principal amount thereof and all other Obligationsamounts owing by the Borrower under this Agreement, shall the Note and the other Loan Documents to be immediately become due and payable, payable without presentment, demand, protest or other further demand or notice of any kind, all of which are hereby waived by the Borrowers; expressly waived, and an action for any amounts due shall accrue immediately. (a) If an Event of Default specified in case of any event with respect to the Borrowers described in clause subsections (gm) or (hn) of Section 10.017.01 of this Agreement occurs and continues or exists, the Facility provided by this Agreement shall automatically and immediately terminate, Lender will be under no further obligation to make Loans and the Outstanding Loansunpaid principal amount of the Note, together with interest accrued and unpaid interest thereon, thereon and all other Obligationsamounts owing by the Borrower under this Agreement, the Note and the other Loan Documents shall automatically become immediately become due and payable, payable without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrowers. Further, if an Event of Default specified in Section 10.01 hereof shall occur and be continuing, thenexpressly waived, and in every such event the Lender an action for any amounts due shall have the right to collect, receive, appropriate or realize upon the Collateral or otherwise foreclose or enforce Lender’s security interests in any or all Collateral in any manner permitted by the Security Agreementaccrue immediately.

Consequences of an Event of Default. (a) If an Event of Default specified in subsections (a) through (l) of Section 10.01 hereof shall occur and be continuing, then, and in every such event (other than an event with respect to the Borrowers described in clause (g) or (h) of Section 10.01) upon notice from the Lender to the Borrowers, the Facility provided by 7.01 of this Agreement shall immediately terminateoccurs, Bank will be under no further obligation to make Loans and may at its option demand the Outstanding Loansunpaid principal amount of the Notes, together with interest accrued and on the unpaid interest thereon, principal amount and all other Obligationsamounts owing by any Borrower or the Guarantor under this Agreement, shall the Notes and the other Loan Documents to be immediately become due and payable, payable without presentment, demand, protest or other further notice of any kind, all of which are hereby waived by the Borrowers; expressly waived, and an action for any amounts due shall accrue immediately. (b) If an Event of Default specified in case of any event with respect to the Borrowers described in clause subsections (gm) or (hn) of Section 10.01, the Facility provided by 7.01 of this Agreement shall automatically occurs and immediately terminatecontinues or exists, Bank will be under no further obligation to make Loans and the Outstanding Loansunpaid principal amount of the Notes, together with interest accrued and on the unpaid interest thereon, principal amount and all other Obligationsamounts owing by any Borrower or the Guarantor under this Agreement, the Notes and the other Loan Documents shall automatically become immediately become due and payable, payable without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrowers. Further, if an Event of Default specified in Section 10.01 hereof shall occur and be continuing, thenexpressly waived, and in every such event the Lender an action for any amounts due shall have the right to collect, receive, appropriate or realize upon the Collateral or otherwise foreclose or enforce Lender’s security interests in any or all Collateral in any manner permitted by the Security Agreementaccrue immediately.

Consequences of an Event of Default. (a) If an Event of Default specified in subsections (a) through (l) of Section 10.01 hereof shall occur and be continuing, then, and in every such event (other than an event with respect to the Borrowers described in clause (g) or (h) of Section 10.01) upon notice from the Lender to the Borrowers, the Facility provided by 7.01 of this Agreement shall immediately terminateoccurs, Bank will be under no further obligation to make Loans and may at its option demand the Outstanding Loansunpaid principal amount of the Notes, together with interest accrued and on the unpaid interest thereon, principal amount and all other Obligationsamounts owing by any Borrower under this Agreement, shall the Notes and the other Loan Documents to be immediately become due and payable, payable without presentment, demand, protest or other further notice of any kind, all of which are hereby waived by the Borrowers; expressly waived, and an action for any amounts due shall accrue immediately. (b) If an Event of Default specified in case of any event with respect to the Borrowers described in clause subsections (gm) or (hn) of Section 10.01, the Facility provided by 7.01 of this Agreement shall automatically occurs and immediately terminatecontinues or exists, Bank will be under no further obligation to make Loans and the Outstanding Loansunpaid principal amount of the Notes, together with interest accrued and on the unpaid interest thereon, principal amount and all other Obligationsamounts owing by any Borrower under this Agreement, the Notes and the other Loan Documents shall automatically become immediately become due and payable, payable without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrowers. Further, if an Event of Default specified in Section 10.01 hereof shall occur and be continuing, thenexpressly waived, and in every such event the Lender an action for any amounts due shall have the right to collect, receive, appropriate or realize upon the Collateral or otherwise foreclose or enforce Lender’s security interests in any or all Collateral in any manner permitted by the Security Agreementaccrue immediately.

Consequences of an Event of Default. If an Event of Default specified in Section 10.01 hereof shall occur and be continuing, then, and in every such event (other than an event with respect to the Borrowers described in clause (g) or (h) of of Section 10.01) ), upon notice from the Lender to the Borrowers, the Facility provided by this Agreement shall immediately terminate, and the Outstanding Loans, together with accrued and unpaid interest thereon, and all other Obligations, shall immediately become due and payable, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrowers; and in case of any event with respect to the Borrowers described in clause (g) or (h) of Section 10.01, the Facility provided by this Agreement shall automatically and immediately terminate, and the Outstanding Loans, together with accrued and unpaid interest thereon, and all other Obligations, shall immediately become due and payable, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrowers. Further, if an Event of Default specified in Section 10.01 hereof shall occur and be continuing, then, and in every such event the Lender shall have the right to collect, receive, appropriate or realize upon the Collateral or otherwise foreclose or enforce Lender’s security interests in any or all Collateral in any manner permitted by the Security Agreement.

Consequences of an Event of Default. If an Event of Default specified in subsections (a) through (k) of Section 10.01 hereof shall occur 7.01 of this Agreement occurs and be continuingcontinues or exists, then, and in every such event (other than an event with respect to the Borrowers described in clause (g) or (h) of Section 10.01) upon notice from the Lender will be under no further obligation to make Loans and may at its option demand the Borrowersunpaid principal amount of the Note, interest accrued on the Facility provided by this Agreement shall immediately terminate, and the Outstanding Loans, together with accrued and unpaid interest thereon, principal amount thereof and all other Obligationsamounts owing by the Borrower under this Agreement, shall the Note and the other Loan Documents to be immediately become due and payable, payable without presentment, demand, protest or other further demand or notice of any kind, all of which are hereby waived by the Borrowers; expressly waived, and an action for any amounts due shall accrue immediately. (a) If an Event of Default specified in case of any event with respect to the Borrowers described in clause subsections (gl) or (hm) of Section 10.017.01 of this Agreement occurs and continues or exists, the Facility provided by this Agreement shall automatically and immediately terminate, Lender will be under no further obligation to make Loans and the Outstanding Loansunpaid principal amount of the Note, together with interest accrued and unpaid interest thereon, thereon and all other Obligationsamounts owing by the Borrower under this Agreement, the Note and the other Loan Documents shall automatically become immediately become due and payable, payable without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrowers. Further, if an Event of Default specified in Section 10.01 hereof shall occur and be continuing, thenexpressly waived, and in every such event the Lender an action for any amounts due shall have the right to collect, receive, appropriate or realize upon the Collateral or otherwise foreclose or enforce Lender’s security interests in any or all Collateral in any manner permitted by the Security Agreementaccrue immediately.

Consequences of an Event of Default. If an one or more of the Events of Default occur then (a) if such Event of Default specified is set forth in Section 10.01 hereof shall occur and be continuing, then, and in every such event (other than an event with respect to the Borrowers described in clause (g) Sections 7.3 or (h) of Section 10.01) upon notice from the Lender to the Borrowers7.4, the Facility provided by this Agreement Revolving Credit Commitments shall immediately terminate, automatically terminate and the Outstanding Loans, together with accrued and unpaid interest thereon, and all other Obligations, Revolving Credit Notes then outstanding shall become immediately become due and payable, without presentment, necessity of demand, protest or other presentation, protest, notice of any kind, all dishonor or notice of which are hereby waived by the Borrowers; and in case of any event with respect to the Borrowers described in clause (g) or (h) of Section 10.01, the Facility provided by this Agreement shall automatically and immediately terminatedefault, and the Outstanding LoansAgent shall be under no further obligation to issue, together with renew, extend or amend Letters of Credit hereunder; or (b) if such Event of Default is set forth in any Sections of this Article VII other than Sections 7.3 or 7.4, then the Agent, upon the direction of the Required Lenders, and without notice to the Borrower, shall declare the Borrower in default hereunder, and upon such declaration, shall, upon the direction of the Required Lenders, terminate the Revolving Credit Commitments and/or terminate the obligation of the Agent to issue, renew, extend or amend Letters of Credit and/or declare the unpaid principal amount of the Revolving Credit Notes then outstanding and all interest accrued and unpaid interest thereon, any unpaid Fees and all other Obligations, shall Bank Indebtedness immediately become due and payable, without presentment, necessity of any further demand, protest or other presentation, protest, notice of any kinddishonor or further notice of default, all of which are hereby waived by the Borrowers. Further, if an Event of Default specified in Section 10.01 hereof whereupon such amounts shall occur be immediately due and be continuing, then, and in every such event the Lender shall have the right to collect, receive, appropriate or realize upon the Collateral or otherwise foreclose or enforce Lender’s security interests in any or all Collateral in any manner permitted by the Security Agreementpayable.

Consequences of an Event of Default. (a) If an Event of Default specified in subsections (a) through (q) of Section 10.01 hereof shall occur 7.01 of this Agreement occurs and be continuingcontinues or exists beyond any applicable notice, then, and in every such event (other than an event with respect to the Borrowers described in clause (g) cure or (h) of Section 10.01) upon notice from the Lender to the Borrowersgrace period, the Facility provided by this Agreement shall immediately terminateBank will be under no further obligation to make Loans and may at its option demand the unpaid principal amount of the Notes, and interest accrued on the Outstanding Loans, together with accrued and unpaid interest thereon, principal amount thereof and all other Obligationsamounts owing by the Borrowers under this Agreement, shall the Notes and the other Loan Documents to be immediately become due and payable, payable without presentment, demand, protest or other further demand or notice of any kind, all of which are hereby waived by the Borrowers; expressly waived, and an action for any amounts due shall accrue immediately. (b) If an Event of Default specified in case of any event with respect to the Borrowers described in clause subsections (gr) or (hs) of Section 10.017.01 of this Agreement occurs, the Facility provided by this Agreement shall automatically and immediately terminateBank will be under no further obligation, if any, to make Loans and the Outstanding Loansunpaid principal amount of the Notes, together with interest accrued and unpaid interest thereon, thereon and all other Obligationsamounts owing by the Borrowers under this Agreement, the Notes and the other Loan Documents shall automatically become immediately become due and payable, payable without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrowers. Further, if an Event of Default specified in Section 10.01 hereof shall occur and be continuing, thenexpressly waived, and in every such event the Lender an action for any amounts due shall have the right to collect, receive, appropriate or realize upon the Collateral or otherwise foreclose or enforce Lender’s security interests in any or all Collateral in any manner permitted by the Security Agreementaccrue immediately.

Consequences of an Event of Default. (a) If an Event of Default specified in subsections (a) through (j) or (m) of Section 10.01 hereof 8.01 shall occur and be continuing, then, and in every such event (other than an event with respect continuing or shall exist the Bank shall be under no further obligation to the Borrowers described in clause (g) make Loans or (h) of Section 10.01) upon notice from the Lender to the Borrowersissue Letters of Credit hereunder, the Facility provided by this Agreement shall immediately terminateBank may terminate the Commitments, and the Outstanding LoansBank may declare the unpaid principal amount of the Notes, together with all Letter of Credit Reimbursement Obligations, interest accrued and unpaid interest thereon, thereon and all other Obligations, shall amounts owing by the Borrowers hereunder or under the Notes to be immediately become due and payable, payable without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrowers; expressly waived, and an action therefor shall immediately accrue. (b) If an Event of Default specified in case of any event with respect to the Borrowers described in clause subsection (gk) or (hl) of Section 10.018.01 hereof shall occur or exist, the Facility provided by this Agreement Bank shall be under no further obligation to make Loans or to issue Letters of Credit hereunder, the Commitments automatically and immediately terminateshall be terminated, and the Outstanding Loansunpaid principal amount of the Notes, together with all Letter of Credit Reimbursement Obligations, interest accrued and unpaid interest thereon, thereon and all other Obligations, amounts owing by the Borrowers hereunder or under the Notes shall become immediately become due and payable, payable without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrowers. Further, if an Event of Default specified in Section 10.01 hereof shall occur and be continuing, thenexpressly waived, and in every such event the Lender an action therefor shall have the right to collect, receive, appropriate or realize upon the Collateral or otherwise foreclose or enforce Lender’s security interests in any or all Collateral in any manner permitted by the Security Agreementimmediately accrue.

Consequences of an Event of Default. If an Event of Default specified in subsections (a) through (I) of Section 10.01 hereof shall occur 7.01 of this Agreement occurs and be continuingcontinues or exists, then, and in every such event (other than an event with respect to the Borrowers described in clause (g) or (h) of Section 10.01) upon notice from the Lender will be under no further obligation to make Loans and may at its option demand the Borrowersunpaid principal amount of the Notes, interest accrued on the Facility provided by this Agreement shall immediately terminate, and the Outstanding Loans, together with accrued and unpaid interest thereon, principal amount thereof and all other Obligationsamounts owing by the Borrower under this Agreement, shall the Notes and the other Loan Documents to be immediately become due and payable, payable without presentment, demand, protest or other further demand or notice of any kind, all of which are hereby waived by the Borrowers; expressly waived, and an action for any amounts due shall accrue immediately. (a) If an Event of Default specified in case of any event with respect to the Borrowers described in clause subsections (gm) or (hn) of Section 10.017.01 of this Agreement occurs and continues or exists, the Facility provided by this Agreement shall automatically and immediately terminate, Lender will be under no further obligation to make Loans and the Outstanding Loansunpaid principal amount of the Notes, together with interest accrued and unpaid interest thereon, thereon and all other Obligationsamounts owing by the Borrower under this Agreement, the Notes and the other Loan Documents shall automatically become immediately become due and payable, payable without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrowers. Further, if an Event of Default specified in Section 10.01 hereof shall occur and be continuing, thenexpressly waived, and in every such event the Lender an action for any amounts due shall have the right to collect, receive, appropriate or realize upon the Collateral or otherwise foreclose or enforce Lender’s security interests in any or all Collateral in any manner permitted by the Security Agreementaccrue immediately.

Consequences of an Event of Default. (a) If an Event of Default specified in subsections (a) through (j) of Section 10.01 hereof 7.01 hereof, or in subsections (k) and (l) with respect to a Significant Subsidiary, shall occur and be continuingcontinuing or shall exist, then, in addition to all other rights and remedies which any Agent or any Lender may have hereunder or under any other Loan Document, at law, in every such event (other than an event with respect to the Borrowers described in clause (g) equity or (h) of Section 10.01) upon notice from the Lender to the Borrowersotherwise, the Facility provided by this Agreement Lenders shall immediately terminatebe under no further obligation to make Loans hereunder, and the Outstanding Loans, together with accrued and unpaid interest thereonAdministrative Agent may, and upon the written request of the Required Lenders shall, by notice to the Borrower, from time to time do any or all other Obligationsof the following: (i) Declare the Commitments terminated, whereupon the Commitments will terminate and any fees hereunder shall be immediately become due and payable, payable without presentment, demand, protest or other further notice of any kind, all of which are hereby waived by the Borrowers; and in case of any event with respect to the Borrowers described in clause (g) or (h) of Section 10.01, the Facility provided by this Agreement shall automatically and immediately terminatewaived, and an action therefor shall immediately accrue. (ii) Declare the Outstanding unpaid principal amount of the Loans, together with interest accrued and unpaid interest thereon, thereon and all other Obligations, shall Obligations to be immediately become due and payable, payable without presentment, demand, protest or other further notice of any kind, all of which are hereby waived by the Borrowers. Further, if an Event of Default specified in Section 10.01 hereof shall occur and be continuing, thenwaived, and in every such event the Lender an action therefor shall have the right to collect, receive, appropriate or realize upon the Collateral or otherwise foreclose or enforce Lender’s security interests in any or all Collateral in any manner permitted by the Security Agreementimmediately accrue.

Consequences of an Event of Default. (a) If an Event of Default specified in Section 10.01 hereof shall occur and be continuing, then, and in every such event subsections (other than an event with respect to the Borrowers described in clause a) through (gj) or (hm) of of Section 10.01) upon notice from the Lender to the Borrowers7.01 of this Agreement occurs and continues or exists, the Facility provided by this Agreement shall immediately terminateBank will be under no further obligation to make Loans and may demand the unpaid principal amount of the Notes, and interest accrued on the Outstanding Loans, together with accrued and unpaid interest thereon, principal amount and all other Obligationsamounts owing by the Borrower under this Agreement, shall the Notes, the Security Agreement and the other Loan Documents to be immediately become due and payable, payable without presentment, demand, protest or other further notice of any kind, all of which are hereby waived by the Borrowers; expressly waived, and an action for any amounts due shall accrue immediately. (b) If an Event of Default specified in case of any event with respect to the Borrowers described in clause subsections (gk) or (hl) of Section 10.017.01 of this Agreement occurs and continues or exists, the Facility provided by this Agreement shall automatically and immediately terminate, Bank will be under no further obligation to make Loans and the Outstanding Loansunpaid principal amount of the Notes, together with interest accrued and on the unpaid interest thereon, principal amount and all other Obligationsamounts owing by the Borrower under this Agreement, the Notes, the Security Agreement and the other Loan Documents shall become immediately become due and payable, payable without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrowers. Further, if an Event of Default specified in Section 10.01 hereof shall occur and be continuing, thenexpressly waived, and in every such event the Lender an action for any amounts due shall have the right to collect, receive, appropriate or realize upon the Collateral or otherwise foreclose or enforce Lender’s security interests in any or all Collateral in any manner permitted by the Security Agreementaccrue immediately.

Consequences of an Event of Default. If an Event of Default specified in Section 10.01 hereof shall occur and be continuingcontinuing or shall exist the Lender may, thenby notice to Planet Hollywood: (a) declare the Current Commitment terminated, whereupon the Current Commitment will terminate immediately, without presentment, demand, protest or further notice of any kind, all of which are hereby expressly waived, and in every such event (other than an event with respect to the Borrowers described in clause (g) or (h) of Section 10.01) upon notice from the Lender to the Borrowers, the Facility provided by this Agreement action therefor shall immediately terminateaccrue; and/or (b) declare the unpaid principal amount of the Notes, and the Outstanding Loans, together with interest accrued and unpaid interest thereon, any fees due hereunder and all other Obligations, shall amounts owing by the Borrowers hereunder or under the Notes to be immediately become due and payable, without presentment, demand, protest or other further notice of any kind, all of which are hereby waived by the Borrowersexpressly waived, and an action therefor shall immediately accrue; and in case of any event with respect and/or (c) give notice to the Borrowers of the occurrence and continuance of an Event of Default; provided, however, that upon the occurrence of any Event of Default described in clause subsections (gn) or (ho) of Section 10.01, the Facility provided by this Agreement shall automatically Loans and immediately terminateall Obligations, and the Outstanding Loans, together with accrued and unpaid all interest thereon, all fees hereunder and all other Obligations, amounts shall immediately become and be forthwith due and payable, without presentment, demand, protest or other further notice of any kind, all of which are hereby expressly waived by the Borrowers. Further, if an Event of Default specified in Section 10.01 hereof shall occur and be continuing, then, and in every such event the Lender shall have the right to collect, receive, appropriate or realize upon the Collateral or otherwise foreclose or enforce Lender’s security interests in any or all Collateral in any manner permitted by the Security Agreement.