When enforceable. If any Event of Default occurs then, during the period it continues, at the option of the Secured Party and despite any delay or previous waiver of the right to exercise that option, (a) each Security is immediately enforceable without the need for any demand or notice to be given to the Grantor or any other person; (b) the Secured Party may by notice to the Grantor declare that all or any part of the Secured Money is immediately due and payable. On receipt of that notice, the Grantor must pay that Secured Money immediately to the Secured Party; and (c) all Powers not previously exercisable become exercisable.
Appears in 2 contracts
Sources: Credit Agreement, Credit Agreement (Peabody Energy Corp)