Common use of Regulatory Intervention Clause in Contracts

Regulatory Intervention. Any governmental authority shall have enacted, issued, promulgated, enforced or entered any statute, rule, regulation, judgment, decree, injunction or other order (whether temporary, preliminary or permanent) which is in effect and which prohibits, enjoins or otherwise restricts any Borrower in a manner that has a Material Adverse Effect; then, and in any such event, and at any time thereafter, if any Event of Default shall then be continuing, the Agent, with the consent of the Majority Lenders, may, by written notice to the applicable Borrower, take any or all of the following actions, without prejudice to the rights of the Agent and the Lenders or the holders of the Notes to enforce their claims against such Borrower: (i) terminate the commitment of the Lenders to make Loans hereunder to such Borrower; or (ii) declare the principal of and any accrued interest on the Loans of such Borrower, and all other obligations of such Borrower owing hereunder, to be, whereupon the same shall become, forthwith due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby waived; provided, that if an Event of Default specified in Section 6.05 shall occur, the result which would occur upon the giving of written notice by the Agent to the applicable Borrower, as specified in clauses (i) and (ii) above, shall occur automatically without the giving of any such notice.