Common use of Optional Acceleration Clause in Contracts

Optional Acceleration. If an Event of Default (other than an Event of Default specified in Section 9.1(f)) occurs, then: (a) the Administrative Agent (i) shall at the request, or may with the consent, of the Majority Lenders, by notice to the Borrowers (if the Commitment Termination Date has not then occurred), terminate the obligation of each Lender and the LC Issuer to make any further Credit Extension, whereupon the same shall forthwith terminate with effect from the date of such notice and (ii) shall at the request, or may with the consent, of the Majority Lenders, by notice to the Borrowers, declare all principal, interest, fees and other amounts payable under this Agreement and the other Loan Documents to be and become forthwith due and payable in full (which declaration shall be conclusive evidence that the amounts determined therein as due and payable have become due and payable), whereupon all such amounts shall be and become forthwith due and payable in full with effect from the date of such notice, without notice of intent to demand, demand, presentment for payment, notice of nonpayment, protest, notice of protest, grace, notice of dishonor, notice of intent to accelerate, notice of acceleration, and all other notices, all of which are hereby expressly waived by the Borrowers; (b) the Borrowers shall, upon demand of the Administrative Agent (acting at the request of, or with the consent of, the Majority Lenders), Cash Collateralize their LC Obligations in respect of all outstanding Letters of Credit (if any) at such time; and (c) the Collateral Agent shall at the request of, or may with the consent of, the Majority Lenders proceed to enforce its rights and remedies under the Security Documents and any other Loan Document for the ratable benefit of the Secured Parties.

Optional Acceleration. If an any Event of Default (other than an Event of Default specified in pursuant to paragraph (e) of Section 9.1(f)7.01) occursshall have occurred and be continuing, then:, and in any such event, (a) the Administrative Agent (i) shall at the request, or may with the consent, of the Majority LendersRequired Banks, by notice to the Borrowers (if the Commitment Termination Date has not then occurred)Obligors, terminate declare the obligation of each Lender Bank to make Advances and the LC Issuer obligation of the Agent to make any further issue Letters of Credit Extensionto be terminated, whereupon the same shall forthwith terminate with effect from the date of such notice terminate, and (ii) shall at the request, or may with the consent, of the Majority LendersRequired Banks, by notice to the BorrowersObligors, declare the Notes, the LC Obligations, all principal, interest, fees interest thereon and all other amounts payable under this Agreement and the other Loan Credit Documents (including, without limitation, contingent obligations under outstanding Letters of Credit) to be forthwith due and payable, whereupon the Notes, the LC Obligation, all such interest and all such other amounts shall become and be forthwith due and payable in full (which declaration shall be conclusive evidence that the amounts determined therein as due and payable have become due and payable), whereupon all such amounts shall be and become forthwith due and payable in full with effect from the date of such noticefull, without notice of intent to demandpresentment, demand, presentment for payment, protest or further notice of nonpaymentany kind to either Obligor, protestany Guaranteeing Affiliate or any other Person (including, notice of protestwithout limitation, grace, notice of dishonor, any notice of intent to accelerate, notice of acceleration, and all other notices), all of which are hereby expressly waived by each of the BorrowersObligors; (b) the Borrowers Obligors shall, upon on demand of the Administrative Agent (acting at the request of, or deposit with the consent of, Agent into the Majority Lenders), Cash Collateralize their LC Obligations Collateral Account an amount of cash equal to the Letter of Credit Exposure as security for all obligations in respect of all outstanding connection with Letters of Credit (if any) under this Agreement and each Letter of Credit Document, to the extent such obligations are not otherwise paid at such time; and (c) the Collateral Agent shall at the request ofrequest, or may with the consent ofconsent, of the Majority Lenders Required Banks proceed to enforce its rights and remedies under the Security Documents and any other Loan Document for the ratable benefit of the Secured PartiesBanks by appropriate proceedings.

Optional Acceleration. If an Event of Default (other than an Event of Default specified in Section 9.1(f7.1(f)) occurs, thenthen the Lender may: (a) the Administrative Agent (i) shall at the request, or may with the consent, of the Majority Lenders, by notice to the Borrowers Borrower, (i) if the Commitment Termination Date Loan has not then occurred)yet been advanced, terminate the obligation of each the Lender and to advance the LC Issuer Loan pursuant to make any further Credit Extensionits Commitment, whereupon the same shall forthwith terminate with effect from the date of such notice notice, and (ii) shall at if the request, or may with the consent, of the Majority Lenders, by notice to the BorrowersLoan has been advanced, declare all principal, interest, fees and other amounts payable under this Agreement and the other Loan Documents to be and become forthwith due and payable in full (which declaration shall be conclusive evidence that the amounts determined therein as due and payable have become due and payable), whereupon all such amounts shall be and become forthwith due and payable in full with effect from the date of such notice, without notice of intent to demand, demand, presentment for payment, notice of nonpayment, protest, notice of protest, grace, notice of dishonor, notice of intent to accelerate, notice of acceleration, and all other notices, all of which are hereby expressly waived by the Borrowers;Borrower; and (b) the Borrowers shall, upon demand of the Administrative Agent (acting at the request of, or with the consent of, the Majority Lenders), Cash Collateralize their LC Obligations in respect of all outstanding Letters of Credit (if any) at such time; and (c) the Collateral Agent shall at the request of, or may with the consent of, the Majority Lenders proceed to enforce its rights and remedies under the Security Documents and any other Loan Document for the ratable benefit of the Secured Parties.Document

Optional Acceleration. If an Event of Default (other than an Event of Default specified in Section 9.1(f8.1(f)) occurs, then: (a) the Administrative Agent (i) shall at the request, or may with the consent, of the Majority Lenders, by notice to the Borrowers Borrower, terminate the obligation of each Lender to make any further Loan (if the Commitment Termination Date has not then occurred), terminate the obligation of each Lender and the LC Issuer to make any further Credit Extension, whereupon the same shall forthwith terminate with effect from the date of such notice terminate, and (ii) shall at the request, or may with the consent, of the Majority Lenders, by notice to the BorrowersBorrower, declare all principal, interest, fees and other amounts payable under this Agreement and the other Loan Documents to be and become forthwith due and payable in full (which declaration shall be conclusive evidence that the amounts determined therein as due and payable have become due and payable), whereupon all such amounts shall be and become forthwith due and payable in full with effect from the date of such noticefull, without notice of intent to demand, demand, presentment for payment, notice of nonpayment, protest, notice of protest, grace, notice of dishonor, notice of intent to accelerate, notice of acceleration, and all other notices, all of which are hereby expressly waived by the Borrowers;Borrower; and (b) the Borrowers shall, upon demand of the Administrative Agent (acting at the request of, or with the consent of, the Majority Lenders), Cash Collateralize their LC Obligations in respect of all outstanding Letters of Credit (if any) at such time; and (c) the Collateral Agent shall at the request of, or may with the consent of, the Majority Lenders proceed to enforce its rights and remedies under the Security Documents and any other Loan Document for the ratable benefit of the Secured Parties.

Optional Acceleration. If an Event of Default (other than an Event of Default specified in Section 9.1(f8.1(f)) occurs, then: (a) the Administrative Agent (i) shall at the request, or may with the consent, of the Majority Lenders, by notice to the Borrowers (if the Commitment Termination Date has not then occurred)Borrower, terminate the obligation of each Lender and the LC Issuer to make any further Credit ExtensionLoan (if the Commitments have not yet been terminated), whereupon the same shall forthwith terminate with effect from the date of such notice notice, and (ii) shall at the request, or may with the consent, of the Majority Lenders, by notice to the BorrowersBorrower, declare all principal, interest, fees and other amounts payable under this Agreement and the other Loan Documents to be and become forthwith due and payable in full (which declaration shall be conclusive evidence that the amounts determined therein as due and payable have become due and payable), whereupon all such amounts shall be and become forthwith due and payable in full with effect from the date of such notice, without notice of intent to demand, demand, presentment for payment, notice of nonpayment, protest, notice of protest, grace, notice of dishonor, notice of intent to accelerate, notice of acceleration, and all other notices, all of which are hereby expressly waived by the Borrowers; (b) the Borrowers shall, upon demand of the Administrative Agent (acting at the request of, or with the consent of, the Majority Lenders), Cash Collateralize their LC Obligations in respect of all outstanding Letters of Credit (if any) at such timeBorrower; and (cb) the Collateral Agent shall at the request of, or may with the consent of, the Majority Lenders proceed to enforce its rights and remedies under the Security Documents and any other Loan Document for the ratable benefit of the Secured Parties.

Optional Acceleration. If an Upon the occurrence and continuance of any Event of Default set forth in Subsection 7.1(a), (other than an Event b), (c), (d), (e), (f), (g), (j), (k), (l), (m), or (n) hereof, any obligation of Default specified in Section 9.1(f)) occursthe Agent and all of the Banks to extend credit to the Borrower pursuant hereto shall immediately terminate and the Agent, then: (a) the Administrative Agent (i) shall at the request, or may with the consent, request of the Majority LendersBanks, by and with the consent of the Majority Banks, without notice to the Borrowers (if Borrower or any of its Subsidiaries, may declare the Commitment Termination Date has not then occurred), terminate principal of and interest accrued on the obligation of each Lender and the LC Issuer to make any further Credit Extension, whereupon the same shall forthwith terminate with effect from the date of such notice and (ii) shall at the request, or may with the consent, of the Majority Lenders, by notice to the Borrowers, declare all principal, interest, fees and other amounts payable under this Agreement and the other Loan Documents Notes to be and become forthwith due and payable in full payable, WHEREUPON THE SAME SHALL BECOME DUE AND PAYABLE WITHOUT ANY PRESENTMENT, DEMAND, PROTEST, NOTICE OF PROTEST, NOTICE OF INTENT TO ACCELERATE, NOTICE OF ACCELERATION, OR NOTICE OF ANY KIND (which declaration shall be conclusive evidence that the amounts determined therein as due and payable have become due and payableEXCEPT NOTICE REQUIRED PURSUANT TO THIS AGREEMENT OR OTHERWISE BY LAW), whereupon ALL OF WHICH ARE HEREBY WAIVED. With respect to all such amounts shall be and become forthwith due and payable in full with effect from the date of such notice, without notice of intent to demand, demand, presentment for payment, notice of nonpayment, protest, notice of protest, grace, notice of dishonor, notice of intent to accelerate, notice of acceleration, and all other notices, all of which are hereby expressly waived by the Borrowers; (b) the Borrowers shall, upon demand of the Administrative Agent (acting at the request of, or with the consent of, the Majority Lenders), Cash Collateralize their LC Obligations in respect of all outstanding Letters of Credit (that shall not have matured or with respect to which presentment for honor shall not have occurred, Borrower shall deposit in a Cash Collateral Account at the Agent an amount equal to the aggregate undrawn amount of Letters of Credit, and the unused portions thereof, if any) at such time; and (c) , shall be returned to Borrower after the Collateral Agent shall at respective expiration dates of the request ofLetters of Credit and after all Notes and Obligations hereunder, or may with the consent of, the Majority Lenders proceed to enforce its rights and remedies under the Security Documents Instruments and any other Loan Document for under the ratable benefit Letter of the Secured PartiesCredit Agreements are paid in full.