Common use of SECTION TERMINATION OF COMMITMENT; ACCELERATION Clause in Contracts

SECTION TERMINATION OF COMMITMENT; ACCELERATION. Upon the occurrence and --------------------------------------- at any time during the continuance of any Event of Default, the Administrative Agent shall upon direction from the Requisite Lenders: (a) by notice to Borrower, terminate Lenders' Commitment to make Loans hereunder; or (b) by notice to Borrower, declare the Obligations to be immediately due and payable, whereupon all the Obligations shall be immediately due and payable without further notice of any kind, provided, however, that if an Event of -------- ------- Default described in Section 9.01(e) or 9.01(f) shall exist or occur, all of the -------------------------- Obligations shall automatically, without declaration or notice of any kind, be immediately due and payable and the Commitments shall be automatically terminated. (c) Any amounts described in clause (b) above, when received by Administrative Agent, shall be held by Administrative Agent pursuant to the terms of the Intercreditor Agreement and shall be applied as therein provided.

SECTION TERMINATION OF COMMITMENT; ACCELERATION. Upon the --------------------------------------- occurrence and --------------------------------------- at any time during the continuance of any Event of Default, the Administrative Agent shall upon direction from the Requisite Lenders: (a) by notice to Borrower, terminate Lenders' Commitment to make Loans hereunder; or (b) by notice to Borrower, declare the Obligations to be immediately due and payable, whereupon all the Obligations shall be immediately due and payable without further notice of any kind, provided, however, that if an Event of -------- ------- Default described in Section 9.01(e) or 9.01(f) shall exist or occur, all of the -------------------------- Obligations shall automatically, without declaration or notice of any kind, be immediately due and payable and the Commitments shall be automatically terminated. (c) Any amounts described in clause (b) above, when received by Administrative Agent, shall be held by Administrative Agent pursuant to the terms of the Intercreditor Agreement and shall be applied as therein provided.