Common use of Consequences of Event of Default Clause in Contracts

Consequences of Event of Default. (a) If any Event of Default specified under Section 10.1, other than subsections (i) through (l) thereof, shall occur and be continuing the Lender shall be under no further obligation to make Loans hereunder and the Lender may, by written notice to the Borrowers, declare the unpaid balance of all Commitment Fees and the principal and interest accrued on the Notes and all other obligations of the Borrowers hereunder and under the other Loan Documents to be forthwith due and payable, and the same shall thereupon become immediately due and payable, without any other or further presentment, demand, protest, notice of default, notice of intent to accelerate or other notice of any kind, all of which are hereby expressly waived. (b) If an Event of Default specified under subsections (i) through (l), inclusive, of Section 10.1 shall occur, the Lender shall be under no further obligation to make Loans hereunder and the unpaid balance of all Commitment Fees and the principal and interest accrued on the Notes and all other obligations of the Borrowers hereunder shall be immediately due and payable automatically without presentment, demand, protest, notice of default, notice of intent to accelerate, notice of acceleration or other notice of any kind, all of which are hereby expressly waived.

Appears in 2 contracts

Sources: Loan Agreement (Security Capital Corp/De/), Loan Agreement (Security Capital Corp/De/)

Consequences of Event of Default. (a) If any Event of Default specified under Section 10.18.1, other than subsections (a) and (b) and (i) through (l) thereof, shall occur and be continuing the Lender shall be under no further obligation to make Revolving Credit Loans hereunder and the Lender may, by written notice to the BorrowersCompany, declare the unpaid balance of all Unused Commitment Fees and the principal and interest accrued on the Notes Restated Note and all other obligations of the Borrowers Company hereunder and under the other Loan Documents to be forthwith due and payable, and the same shall thereupon become immediately due and payable, without any other or further presentment, demand, protest, notice of default, notice of intent to accelerate or other notice of any kind, all of which are hereby expressly waived. (b) If an Event of Default specified under subsections (a) and (b) and (i) through (l), ) inclusive, of Section 10.1 8.1 shall occur, the Lender shall be under no further obligation to make Revolving Credit Loans hereunder and the unpaid balance of all Unused Commitment Fees and the principal and interest accrued on the Notes Restated Note and all other obligations of the Borrowers Company hereunder shall be immediately due and payable automatically without presentment, demand, protest, notice of default, notice of intent to accelerate, notice of acceleration or other notice of any kind, all of which are hereby expressly waived.

Appears in 1 contract

Sources: Revolving Credit Agreement (Republic Leasing Inc /Wa/)

Consequences of Event of Default. (a) If any Event of Default specified under Section 10.18.1, other than subsections (i) through (l) thereof, shall occur and be continuing the Lender shall be under no further obligation to make Loans hereunder and the Lender may, by written notice to the BorrowersBorrower, declare the unpaid balance of all Commitment Fees and the principal and interest accrued on the Notes and all other obligations of the Borrowers Borrower hereunder and under the other Loan Documents to be forthwith due and payable, and the same shall thereupon become immediately due and payable, without any other or further presentment, demand, protest, notice of default, notice of intent to accelerate or other notice of any kind, all of which are hereby expressly waived. (b) If an Event of Default specified under subsections (i) through (l), inclusive, of Section 10.1 8.1 shall occur, the Lender shall be under no further obligation to make Loans hereunder and the unpaid balance of all Commitment Fees and the principal and interest accrued on the Notes and all other obligations of the Borrowers Borrower hereunder shall be immediately due and payable automatically without presentment, demand, protest, notice of default, notice of intent to accelerate, notice of acceleration or other notice of any kind, all of which are hereby expressly waived.

Appears in 1 contract

Sources: Loan Agreement (Security Capital Corp/De/)

Consequences of Event of Default. (a) If any Event of Default specified under Section 10.18.1, other than subsections (i) through (l) thereof, shall occur and be continuing the Lender shall be under no further obligation to make Loans hereunder and the Lender may, by written notice to the Borrowers, declare the unpaid balance of all Commitment Fees and the principal and interest accrued on the Notes and all other obligations of the Borrowers hereunder and under the other Loan Documents to be forthwith due and payable, and the same shall thereupon become immediately due and payable, without any other or further presentment, demand, protest, notice of default, notice of intent to accelerate or other notice of any kind, all of which are hereby expressly waived. (b) If an Event of Default specified under subsections (i) through (l), inclusive, of Section 10.1 8.1 shall occur, the Lender shall be under no further obligation to make Loans hereunder and the unpaid balance of all Commitment Fees and the principal and interest accrued on the Notes and all other obligations of the Borrowers hereunder shall be immediately due and payable automatically without presentment, demand, protest, notice of default, notice of intent to accelerate, notice of acceleration or other notice of any kind, all of which are hereby expressly waived.

Appears in 1 contract

Sources: Loan Agreement (Security Capital Corp/De/)

Consequences of Event of Default. (a) If any Event of Default specified under Section 10.19.1, other than subsections (i) through (l) thereof, shall occur and be continuing the Lender shall be under no further obligation to make Loans hereunder and the Lender may, by written notice to the Borrowers, declare the unpaid balance of all Commitment Fees and the principal and interest accrued on the Notes and all other obligations of the Borrowers hereunder and under the other Loan Documents to be forthwith due and payable, and the same shall thereupon become immediately due and payable, without any other or further presentment, demand, protest, notice of default, notice of intent to accelerate or other notice of any kind, all of which are hereby expressly waived. (b) If an Event of Default specified under subsections (i) through (l), inclusive, of Section 10.1 9.1 shall occur, the Lender shall be under no further obligation to make Loans hereunder and the unpaid balance of all Commitment Fees and the principal and interest accrued on the Notes and all other obligations of the Borrowers hereunder shall be immediately due and payable automatically without presentment, demand, protest, notice of default, notice of intent to accelerate, notice of acceleration or other notice of any kind, all of which are hereby expressly waived.

Appears in 1 contract

Sources: Loan Agreement (Security Capital Corp/De/)

Consequences of Event of Default. (a) If any an Event of Default specified under Section 10.1, other than subsections paragraphs (ia) through (lg) thereofof Section 6.01 shall occur, shall occur and be continuing the Lender Banks shall be under no further obligation to make Loans hereunder and the Lender mayAgent shall be under no further obligation to issue Letters of Credit hereunder; and the Agent, upon instructions from the Required Banks, may by written notice to the Borrowers, Borrowers declare the unpaid balance of all Commitment Fees and the principal Loans then outstanding and interest accrued on the Notes thereon, and all other obligations liabilities of the Borrowers hereunder and under the other Loan Documents thereunder to be forthwith due and payable, and the same shall thereupon become and be immediately due and payable, without any other or further presentment, demand, protest, notice of default, notice of intent to accelerate demand or other notice protest of any kind, all of which are hereby expressly waived. (b) If an Event of Default Default, specified under subsections paragraphs (h) or (i) through (l), inclusive, of Section 10.1 6.01 shall occur, the Lender Banks shall be under no further obligation to make Loans hereunder and the Agent shall be under no further obligation to issue Letters of Credit hereunder; and the unpaid balance of all Commitment Fees and the principal Loans then outstanding and interest accrued on the Notes thereon and all other obligations of the Borrowers hereunder Debt shall be immediately due and payable automatically payable, without presentment, demand, protest, notice of default, notice of intent to accelerate, notice of acceleration protest or other notice of any kind, all of which are hereby expressly waived.

Appears in 1 contract

Sources: Loan Agreement (Foster L B Co)