Common use of Partial Acceleration Clause in Contracts

Partial Acceleration. Upon the occurrence and during the continuance of any Event of Default described in subsection (a), (c), (d) or (e) of Section 10.1 with respect to any Obligation owing or Transaction Document executed in connection therewith, the Purchaser at any time and from time to time may declare any and a such Obligations immediately due and payable, without demand, presentment, notice of demand or of dishonor and nonpayment, protest, notice of protest, notice of intention to accelerate, declaration or notice of acceleration, or any other notice or declaration of any kind, all of which are hereby expressly waived by the Issuer. Upon the Purchaser's acceleration of any or all of the Obligations, it shall use commercially reasonable efforts to give the Issuer reasonably contemporaneous written notice thereof, but any inadvertent error in the timing or manner of giving such notice shall not affect, in any way, the otherwise proper acceleration under the terms of this Agreement of such Obligations.

Appears in 1 contract

Sources: Note Purchase Agreement (Atp Oil & Gas Corp)

Partial Acceleration. Upon the occurrence and during the continuance of any Event of Default described in subsection SUBSECTION (a), (c), (d) or (e) of Section SECTION 10.1 with respect to any Obligation owing or Transaction Loan Document executed in connection therewith, the Purchaser Lender at any time and from time to time may declare any and a all such Obligations immediately due and payable, without demand, presentment, notice of demand or of dishonor and nonpayment, protest, notice of protest, notice of intention to accelerate, declaration or notice of acceleration, or any other notice or declaration of any kind, all of which are hereby expressly waived by the IssuerBorrower. Upon the PurchaserLender's acceleration of any or all of the Obligations, it shall use commercially reasonable efforts to give the Issuer Borrower reasonably contemporaneous written notice thereof, but any inadvertent error in the timing or manner of giving such notice shall not affect, in any way, the otherwise proper acceleration under the terms of this Agreement of such Obligations.

Appears in 1 contract

Sources: Credit Agreement (Benz Energy LTD /Can/)

Partial Acceleration. Upon the occurrence and during the continuance of any Event of Default described in subsection (a), (c), (d) or (e) of Section 10.1 with respect to any Obligation owing or Transaction Loan Document executed in connection therewith, the Purchaser Lender at any time and from time to time may declare any and a all such Obligations immediately due and payable, without demand, presentment, notice of demand or of dishonor and nonpayment, protest, notice of protest, notice of intention to accelerate, declaration or notice of acceleration, or any other notice or declaration of any kind, all of which are hereby expressly waived by the IssuerBorrower. Upon the PurchaserLender's acceleration of any or all of the Obligations, it shall use commercially reasonable efforts to give the Issuer Borrower reasonably contemporaneous written notice thereof, but any inadvertent error in the timing or manner of giving such notice shall not affect, in any way, the otherwise proper acceleration under the terms of this Agreement of such Obligations.

Appears in 1 contract

Sources: Credit Agreement (Atp Oil & Gas Corp)