Common use of Termination and Acceleration Clause in Contracts

Termination and Acceleration. 12.1.1 If an Event of Default shall have occurred and be continuing, the Lender may declare the Loan to be cancelled and accelerated (other than with respect to any Event of Default pursuant to Section 11.1 hereunder, in which case, the Principal at Maturity shall be automatically and immediately due and payable without need of any Lender action) or take any other action, commence any other suit, action or proceeding or exercise such other rights as may be permitted by Applicable Law (whether or not provided for under this Agreement) at such times and in such manner as the Lender may consider expedient, all without any additional notice, demand, presentment for payment, protest, noting of protest, dishonour, notice of dishonour or any other action being required. 12.1.2 If the Loan is declared cancelled and accelerated pursuant to Section 12.1.1 hereunder, the Borrower may, subject to the prior approval of the Lender, apply to the Exchange in order to repay the Principal at Maturity and any amount of accrued interests on the Loan outstanding in common shares in accordance with Policy 4.3.

Termination and Acceleration. 12.1.1 If an Event of Default shall have occurred and be continuing, the Lender may declare the Loan to be cancelled and accelerated (other than with respect to any Event of Default pursuant to Section 11.1 hereunder, in which case, the Principal at Maturity shall be automatically and immediately due and payable without need of any Lender action) or take any other action, commence any other suit, action or proceeding or exercise such other rights as may be permitted by Applicable Law (whether or not provided for under this Agreement) at such times and in such manner as the Lender may consider expedient, all without any additional notice, demand, presentment for payment, protest, noting of protest, dishonour, notice of dishonour or any other action being required. 12.1.2 The Lender may elect to accelerate the repayment of the Loan pursuant to Section 3 of Call Option Agreement No. 1, in which case the Principal at Maturity and any amount of unpaid and accrued interests on the Loan shall be immediately due and payable within two (2) Business Days of such election. 12.1.3 If the Loan is declared cancelled and accelerated pursuant to Section Sections 12.1.1 and 12.1.2 hereunder, the Borrower may, subject to the prior approval of the Lender, apply to the Exchange in order to repay the Principal at Maturity and any amount of unpaid and accrued interests on the Loan outstanding in common shares in the accordance with Policy 4.3.