Acceleration. If any Default described in Section [(f) or (g) of Article VII]I] occurs with respect to any Borrower, the obligations of the Lenders to make Loans hereunder and the obligation and power of the Issuers to issue Letters of Credit shall automatically terminate and the Obligations shall immediately become due and payable without any election or action on the part of the Administrative Agent, any Lender or any Issuer and each Borrower will be and become thereby unconditionally obligated, without any further notice, act or demand, to pay to the Administrative Agent an amount in immediately available funds, which funds shall be held in the applicable LC Collateral Account, equal to the excess of the amount of the LC Exposure with respect to such Borrower at such time over the amount on deposit in such LC Collateral Account at such time which is free and clear of all rights and claims of third parties and has not been applied against the Obligations (such difference, the Collateral Shortfall Amount). If any other Default occurs, the Administrative Agent may with the consent, or shall at the request, of the Required Lenders, # terminate or suspend the obligations of the Lenders to make Loans hereunder and the obligation and power of the Issuers to issue Letters of Credit, or declare the Obligations to be due and payable, or both, whereupon the Obligations shall become immediately due and payable, without presentment, demand, protest or notice of any kind, all of which each Borrower hereby expressly waives, and # upon notice to the Company and in addition to the continuing right to demand payment of all amounts payable under this Agreement, make demand on the Borrowers to pay, and each applicable Borrower will, forthwith upon such demand and without any further notice or act, pay to the Administrative Agent in immediately available funds the Collateral Shortfall Amount for such Borrower, which funds shall be deposited in the applicable LC Collateral Account.
Acceleration. If any Default described in Section [(f)[Section 8.1(F) or (g) of Article VII]I] occurs with respect to any Borrower,8.1(G)])] occurs, the obligations of the Revolving Loan Lenders to make Revolving Loans hereunder and the obligation and power of the IssuersIssuing Banks to issue Letters of Credit hereunder shall automatically terminate and the Obligations shall immediately become due and payable without any election or action on the part of the Administrative Agent, any LenderIssuing Bank or any IssuerLender and each Borrowerthe Borrowers will be and become thereby unconditionally obligated, without any further notice, act or demand, to pay to the Administrative Agent an amount in each Agreed Currency, in immediately available funds, which funds shall be held in the applicable LC Collateral Account, equal to the excessdifference of # one hundred five percent (105%) of the amount of the LC Exposure with respect toL/C Obligations denominated in such BorrowerAgreed Currency at such time overtime, less # the amount of such Agreed Currency on deposit in such LCthe L/C Collateral Account at such time which is free and clear of all rights and claims of third parties and has not been applied against the Obligations (such difference, in the aggregate for all Agreed Currencies, the Collateral Shortfall Amount)., which funds shall be held in the L/C Collateral Account. If any other Default occurs, # the Administrative Agent may with the consent, or shallmay, and at the request,request of the Required Lenders, #Revolving Loan Lenders shall, terminate or suspend the obligations of the Revolving Loan Lenders to make Revolving Loans hereunder and the obligation and power of the IssuersIssuing Banks to issue Letters of Credit, orCredit hereunder and # the Administrative Agent may, and at the request of the Required Lenders shall, # declare the Obligations to be due and payable, or both, whereupon the Obligations shall become immediately due and payable, without presentment, demand, protest or notice of any kind, all of which each Borrower hereby expressly waives, and # upon notice to the CompanyBorrowers and in addition to the continuing right to demand payment of all amounts payable under this Agreement, make demand on the Borrowers to pay, and each applicable Borrowerthe Borrowers will, forthwith upon such demand and without any further notice or act, pay to the Administrative Agent in immediately available funds the Collateral Shortfall Amount for such Borrower,Amount, which funds shall be deposited in the applicable LCL/C Collateral Account.
Acceleration. If any Default described in Section [(f)8.1(F) or (g) of Article VII]I] occurs with respect to any Borrower,8.1(G) occurs, the obligations of the Revolving Loan Lenders to make Revolving Loans hereunderhereunder, the obligation of the Term Loan Lenders to make Term Loans hereunder, and the obligation and power of the IssuersIssuing Banks to issue Letters of Credit hereunder shall automatically terminate and the Obligations shall immediately become due and payable without any election or action on the part of the Administrative Agent, any LenderIssuing Bank or any IssuerLender and each Borrowerthe Borrowers will be and become thereby unconditionally obligated, without any further notice, act or demand, to pay to the Administrative Agent an amount in each Agreed Currency, in immediately available funds, which funds shall be held in the applicable LC Collateral Account, equal to the excessdifference of # one hundred five percent (105%) of the amount of the LC Exposure with respect toL/C Obligations denominated in such BorrowerAgreed Currency at such time overtime, less # the amount of such Agreed Currency on deposit in such LCthe L/C Collateral Account at such time which is free and clear of all rights and claims of third parties and has not been applied against the Obligations (such difference, in the Collateralaggregate for all Agreed Currencies, the “Collateral Shortfall AmountAmount”)., which funds shall be held in the L/C Collateral Account. If any other Default occurs, # the Administrative Agent may with the consent, or shallmay, and at the request,request of the Required Lenders, #Revolving Loan Lenders shall, terminate or suspend the obligations of the Revolving Loan Lenders to make Revolving Loans hereunder and the obligation and power of the IssuersIssuing Banks to issue Letters of Credit,Credit hereunder, # the Administrative Agent may, and at the request of Required Term Loan Lenders shall, terminate or suspend the obligations of the Term Loan Lenders to make Term Loans hereunder and # the Administrative Agent may, and at the request of the Required Lenders shall, # declare the Obligations to be due and payable, or both, whereupon the Obligations shall become immediately due and payable, without presentment, demand, protest or notice of any kind, all of which each Borrower hereby expressly waives, and # upon notice to the CompanyBorrowers and in addition to the continuing right to demand payment of all amounts payable under this Agreement, make demand on the Borrowers to pay, and each applicable Borrowerthe Borrowers will, forthwith upon such demand and without any further notice or act, pay to the Administrative Agent in immediately available funds the Collateral Shortfall Amount for such Borrower,Amount, which funds shall be deposited in the applicable LCL/C Collateral Account.
Acceleration. If any Default described in Section [(f)C Obligations, whether or (g) of Article VII]I] occurs with respect to any Borrower,not the obligationsbeneficiaries of the Lenders to make Loans hereunder and the obligation and power of the Issuers to issuethen outstanding Letters of Credit shall automatically terminatehave presented the documents required thereunder) shall become immediately due and payable and # if such event is any other Event of Default, either or both of the Obligationsfollowing actions may be taken: # with the consent of the Required Banks, the Administrative Agent may, or upon the request of the Required Banks, the Administrative Agent shall, by notice to the Company declare the Commitments to be terminated forthwith, whereupon the Commitments shall immediately terminate; and # with the consent of the Required Banks, the Administrative Agent may, or upon the request of the Required Banks, the Administrative Agent shall, by notice to the Company, declare the Loans hereunder (with accrued interest thereon) and all other amounts owing under this Agreement (including, without limitation, all amounts of L/C Obligations, whether or not the beneficiaries of the then outstanding Letters of Credit shall have presented the documents required thereunder) to be due and payable forthwith, whereupon the same shall immediately become due and payable without any election or action onpayable. With respect to all Letters of Credit with respect to which presentment for honor shall not have occurred at the parttime of an acceleration pursuant to the Administrative Agent, any Lender or any Issuer and eachpreceding sentence, the applicable Borrower will be and become thereby unconditionally obligated, without any further notice, act or demand, to pay toshall at such time deposit in a cash collateral account opened by the Administrative Agent an amount in immediately available funds, which funds shall be held in the applicable LC Collateral Account, equal to the excessaggregate then undrawn and unexpired amount of Letters of Credit issued for its account. Each Borrower hereby grants to the Administrative Agent, for the benefit of the amountIssuing Banks and the L/C Participants, a security interest in such cash collateral to secure all obligations of such Borrower under this Agreement and the other Credit Documents. Amounts held in such cash collateral account shall be applied by the Administrative Agent to the payment of drafts drawn under such Letters of Credit, and the unused portion thereof after all such Letters of Credit shall have expired or been fully drawn upon, if any, shall be applied to repay other obligations of the LC Exposure with respect toapplicable Borrower hereunder. After all such Letters of Credit shall have expired or been fully drawn upon, all Reimbursement Obligations shall have been satisfied and all other obligations of the applicable Borrower at such time overhereunder shall have been paid in full, the amount on depositbalance, if any, in such LC Collateral Account atcash collateral account shall be returned to the applicable Borrower. The Borrowers shall execute and deliver to the Administrative Agent, for the account of the Issuing Banks and the L/C Participants, such time which is freefurther documents and clear of all rights and claims of third parties and has not been applied against the Obligations (such difference, the Collateral Shortfall Amount). If any other Default occurs,instruments as the Administrative Agent may withrequest to evidence the consent, or shall at the request,creation and perfection of the Required Lenders, # terminate or suspend the obligations of the Lenders to make Loans hereunder and the obligation and power of the Issuers to issue Letters of Credit, or declare the Obligations to be due and payable, or both, whereupon the Obligations shall become immediately due and payable, without presentment, demand, protest or notice of any kind, all of which each Borrower hereby expressly waives, and # upon notice to the Company andwithin security interest in addition to the continuing right to demand payment of all amounts payable under this Agreement, make demand on the Borrowers to pay, and each applicable Borrower will, forthwith upon such demand and without any further notice or act, pay to the Administrative Agent in immediately available funds the Collateral Shortfall Amount for such Borrower, which funds shall be deposited in the applicable LC Collateral Account.cash collateral account.
Acceleration. If at any time while any Default described in Section [(f) or (g) of Article VII]I] occurs with respect to any Borrower, the obligations of the Lenders to make Loans hereunder and the obligation and power of the Issuers to issue Letters of Credit shall automatically terminate and the Obligations shall immediately become due and payable without any election or action on the part of the Administrative Agent, any Lender or any Issuer and each Borrower will be and become thereby unconditionally obligated, without any further notice, act or demand, to pay tois continuing, the Administrative Agent an amount in immediately available funds, which funds shall be held indetermines that the applicable LC Collateral Account, equal to the excess of the amount of the LC Exposure with respect to such BorrowerShortfall Amount at such time over the amount on deposit in such LC Collateral Account at such time which is free and clear of all rights and claims of third parties and has not been applied against the Obligations (such difference, the Collateral Shortfall Amount). If any other Default occurs,greater than zero, the Administrative Agent may with the consent, or shall at the request, of the Required Lenders, # terminate or suspend the obligations of the Lenders to make Loans hereunder and the obligation and power of the Issuers to issue Letters of Credit, or declare the Obligations to be due and payable, or both, whereupon the Obligations shall become immediately due and payable, without presentment, demand, protest or notice of any kind, all of which each Borrower hereby expressly waives, and # upon notice to the Company and in addition to the continuing right to demand payment of all amounts payable under this Agreement, make demand on the Borrowers to pay, and each applicable Borrowerthe Borrowers will, forthwith upon such demand and without any further notice or act, pay to the Administrative Agent in immediately available funds the Collateral Shortfall Amount for such Borrower,Amount, which funds shall be deposited in the applicable LCL/C Collateral Account. At any time while any Default is continuing, none of the Borrowers nor any Person claiming on behalf of or through any Borrower shall have any right to withdraw any of the funds held in the L/C Collateral Account.
Acceleration. Ifthen, and in any Default described in Section [(f) or (g) of Article VII]I] occurs with respect to any Borrower,such event, so long as the obligations of the Lenders to make Loans hereunder and the obligation and power of the Issuers to issue Letters of Credit shall automatically terminate and the Obligations shall immediately become due and payable without any election or action on the part of the Administrative Agent, any Lender or any Issuer and each Borrower willsame may be and become thereby unconditionally obligated, without any further notice, act or demand, to pay tocontinuing, the Administrative Agent an amountmay, and upon the written or telephonic (confirmed in immediately available funds, which funds shall be held in the applicable LC Collateral Account, equal to the excess of the amount of the LC Exposure with respect to such Borrower at such time over the amount on deposit in such LC Collateral Account at such time which is free and clear of all rights and claims of third parties and has not been applied against the Obligations (such difference, the Collateral Shortfall Amount). If any other Default occurs, the Administrative Agent may with the consent, or shall at the request,writing) requests of the Required Lenders, shall, by written notice to the Borrowers, # terminate or suspend the obligations of the Lenders to make Loans hereunder and the obligation and power of the Issuers to issue Letters of Credit, or declare theall Obligations to be forthwith due and payable, or both, whereupon the Obligationssame shall forthwith mature and become immediately due and payable, together with accrued interest thereon, without presentment, demand, protest or notice, all of which are hereby waived by each of the Borrowers (provided, that, in the case of the occurrence of any event specified in [Section 8.01(g)] or [Section 8.01(h)], all Obligations shall become due and payable forthwith without the requirement of any such notice or the action of any Person and without presentment, demand, protest or other notice of any kind, all of which each Borrowerare hereby expressly waives,waived by each of the Borrowers), and # upon noticeexercise on behalf of itself, the Lenders, the L/C Issuers, and the other Agents all rights and remedies available to it, the CompanyLenders, the L/C Issuers and the other Agents under the Loan Documents. Upon written demand by the Required Lenders after the occurrence of any Event of Default, and automatically without the necessity of demand in addition to the continuing right to demand paymentevent of all amounts payable under this Agreement, make demand on the Borrowers to pay, and each applicable Borrower will, forthwith upon such demand and without any further noticeEvent of Default specified in [Section 8.01(g)] or act, pay[Section 8.01(h)], [[Released U.K. Borrowers:Organization]] shall immediately provide to the Administrative Agent cash in immediately available fundsan amount equal to the aggregate L/C Obligations on all then outstanding Letters of Credit issued for the account of [[Released U.K. Borrowers:Organization]] or any of its Domestic Subsidiaries to be held by the Administrative Agent as Cash Collateral Shortfall Amount for such Borrower, which fundsL/C Obligations. If [[Released U.K. Borrowers:Organization]] is required to provide an amount of Cash Collateral hereunder as a result of the occurrence of an Event of Default, such amount (to the extent not applied pursuant to Section 8.03) shall be deposited in the applicable LC Collateral Account.returned to [[Released U.K. Borrowers:Organization]] within three (3) Business Days after all Events of Default have been cured or waived.
Acceleration. IfSection # Bankruptcy Defaults. When any Event of Default described in subsections [(j) or (k) of Section [(f) or (g) of Article VII]I] occurs9.01]1] with respect to any Borrower, the obligations of the Lenders to makeBorrower has occurred and is continuing, then all outstanding Loans hereunder and the obligation and power of the Issuers to issue Letters of Credit shall automatically terminate and the Obligations shall immediately become due and payable without any election or action ontogether with all other amounts payable under the part of the Administrative Agent, any Lender or any Issuer and each Borrower will be and become thereby unconditionally obligated, without any further notice, act or demand, to pay to the Administrative Agent an amount in immediately available funds, which funds shall be held in the applicable LC Collateral Account, equal to the excess of the amount of the LC Exposure with respect to such Borrower at such time over the amount on deposit in such LC Collateral Account at such time which is free and clear of all rights and claims of third parties and has not been applied against the Obligations (such difference, the Collateral Shortfall Amount). If any other Default occurs, the Administrative Agent may with the consent, or shall at the request, of the Required Lenders, # terminate or suspend the obligations of the Lenders to make Loans hereunder and the obligation and power of the Issuers to issue Letters of Credit, or declare the Obligations to be due and payable, or both, whereupon the Obligations shall become immediately due and payable,Loan Documents without presentment, demand, protest or notice of any kind, allthe obligation of which eachthe Lenders to extend further credit pursuant to any of the terms hereof shall immediately terminate and the Borrower hereby expressly waives, and # upon notice to the Company and in addition to the continuing right to demand payment of all amounts payable under this Agreement, make demand on the Borrowers to pay, and each applicable Borrower will, forthwith upon such demand and without any further notice or act, payshall immediately deliver to the Administrative Agent Cash Collateral in immediatelyan amount equal to 103% of the aggregate amount of each Letter of Credit then outstanding, the Borrower acknowledging and agreeing that the Lenders would not have an adequate remedy at law for failure by the Borrower to honor any such demand and that the Lenders, and the Administrative Agent on their behalf, shall have the right to require the Borrower to specifically perform such undertaking whether or not any draws or other demands for payment have been made under any of the Letters of Credit. In addition, the Administrative Agent may exercise on behalf of itself, the Lenders and the L/C Issuer all rights and remedies available fundsto it, the Collateral Shortfall Amount forLenders and the L/C Issuer under the Loan Documents or applicable law or equity when any such Borrower, which funds shall be deposited in the applicable LC Collateral Account.Event of Default has occurred and is continuing.
Acceleration. Ifthen, and in any such event, # if such event is an Event of Default describedspecified in Section [(f)clause (i) or (g)(ii) of Article VII]I] occursparagraph # above with respect to anythe Borrower, automatically the obligationsCommitments shall immediately terminate and the Loans hereunder (with accrued interest thereon) and all other amounts owing under this Agreement and the other Loan Documents (including all amounts of L/C Obligations, whether or not the beneficiaries of the Lenders to make Loans hereunder and the obligation and power of the Issuers to issuethen outstanding Letters of Credit shall automatically terminate andhave presented the Obligationsdocuments required thereunder) shall immediately become due and payable withoutpayable, and # if such event is any electionother Event of Default, either or action on the partboth of the following actions may be taken: # with the consent of the Majority Facility , the Administrative Agent, any LenderAgent may, or any Issuerupon the request of the Majority Facility , the Administrative Agent shall, by notice to the Borrower declare the Revolving Credit Commitments to be terminated forthwith, whereupon the Revolving Credit Commitments shall immediately terminate; and each# with the consent of the Required , the Administrative Agent may, or upon the request of the Required , the Administrative Agent shall, by notice to the Borrower, declare the Loans hereunder (with accrued interest thereon) and all other amounts owing under this Agreement and the other Loan Documents (including all amounts of L/C Obligations, whether or not the beneficiaries of the then outstanding Letters of Credit shall have presented the documents required thereunder) to be due and payable forthwith, whereupon the same shall immediately become due and payable. With respect to all Letters of Credit with respect to which presentment for honor shall not have occurred at the time of an acceleration pursuant to this paragraph, the Borrower will be and become thereby unconditionally obligated, without any further notice, act or demand, to pay toshall at such time deposit in a cash collateral account opened by the Administrative Agent an amount in immediately available funds, which funds shall be held in the applicable LC Collateral Account, equal to the excess of theaggregate then undrawn and unexpired amount of the LC Exposure with respect to such Borrower at such time over the amount on depositLetters of Credit. Amounts held in such LC Collateral Account at such time which is free and clear of all rights and claims of third parties and has not beencash collateral account shall be applied against the Obligations (such difference, the Collateral Shortfall Amount). If any other Default occurs,by the Administrative Agent may withto the consent,payment of drafts drawn under such Letters of Credit, and the unused portion thereof after all such Letters of Credit shall have expired or been fully drawn upon, if any, shall at the request, of the Required Lenders, # terminate or suspend thebe applied to repay other obligations of the Lenders to make LoansBorrower hereunder and under the obligationother Loan Documents. After all such Letters of Credit shall have expired or been fully drawn upon, all Reimbursement Obligations shall have been satisfied and powerall other obligations of the IssuersBorrower hereunder and under the other Loan Documents shall have been paid in full, the balance, if any, in such cash collateral account shall be returned to issue Letters of Credit, or declare the Obligations toBorrower (or such other Person as may be due and payable, or both, whereupon the Obligations shall become immediately due and payable, withoutlawfully entitled thereto). Except as expressly provided above in this Article VIII, presentment, demand, protest or noticeand all other notices of any kind, all of which each Borrowerkind are hereby expressly waives, and # upon notice towaived by the Company and in addition to the continuing right to demand payment of all amounts payable under this Agreement, make demand on the Borrowers to pay, and each applicable Borrower will, forthwith upon such demand and without any further notice or act, pay to the Administrative Agent in immediately available funds the Collateral Shortfall Amount for such Borrower, which funds shall be deposited in the applicable LC Collateral Account.Borrower.
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