Common use of Notice of Acceleration Clause in Contracts

Notice of Acceleration. Pursuant to Section 8.01 of the Credit Agreement and at the request of the Required Lenders pursuant to Section 9 herein, the Administrative Agent hereby gives notice to the Borrower that (i) the Commitments under the Credit Agreement are terminated and (ii) the outstanding Loans are hereby declared due and payable, in whole, including, without limitation the principal of the Loans, together with accrued interest thereon, unpaid accrued fees, the Applicable Premium, and all other Obligations of the Borrower accrued under the Credit Agreement and any other Loan Document.

Appears in 2 contracts

Sources: Forbearance Agreement, Forbearance Agreement (Hercules Offshore, Inc.)