Example ContractsClausesacceleration; termination of credit facilityVariants
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Acceleration; Termination of Credit Facility. Terminate the Revolving Credit Commitment and declare the principal of and interest on the Loans and the Reimbursement Obligations at the time outstanding, and all other amounts owed to the Lenders and to the Administrative Agent under this Agreement or any of the other Loan Documents (including, without limitation, all L/C Obligations, whether or not the beneficiaries of the then outstanding Letters of Credit shall have presented or shall be entitled to present the documents required thereunder) and all other Obligations, to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by each Credit Party, anything in this Agreement or the other Loan Documents to the contrary notwithstanding, and terminate the Credit Facility and any right of the Borrower to request borrowings or Letters of Credit thereunder; provided, that upon the occurrence of an Event of Default specified in [Section 10.1(i) or (j)])], the Credit Facility shall be automatically terminated and all Obligations shall automatically become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by each Credit Party, anything in this Agreement or in any other Loan Document to the contrary notwithstanding.

Acceleration; Termination

then, and in any such event, # if such event is an Event of Credit Facility. TerminateDefault specified in [clause (i) or (ii)])] of paragraph # above with respect to the Revolving Credit CommitmentBorrower, automatically the Commitments shall immediately terminate and declare the principal of and interest on the Loans and the Reimbursement Obligations at the time outstanding,hereunder (with accrued interest thereon) and all other amounts owed to the Lenders and to the Administrative Agentowing under this Agreement or any ofand the other Loan Documents (including, without limitation,(including all amounts of L/C Obligations, whether or not the beneficiaries of the then outstanding Letters of Credit shall have presented or shall be entitled to present the documents required thereunder) shall immediately become due and payable, and # if such event is any other Event of Default, either or both of the following actions may be taken: # with the consent of the Majority Facility , the Administrative Agent may, or upon 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 # 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 forthwith due and payable,payable forthwith, whereupon the same shall immediately become due and payable without presentment, demand, protestpayable. 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 shall at such time deposit in a cash collateral account opened by the Administrative Agent an amount equal to the aggregate then undrawn and unexpired amount of such Letters of Credit. 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 noticeobligations of any kind,the Borrower hereunder and under the other Loan Documents. After all such Letters of which are expressly waived by each Credit Party, anything in this Agreementshall have expired or been fully drawn upon, all Reimbursement Obligations shall have been satisfied and all other obligations of the Borrower 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 the contrary notwithstanding, and terminate the Credit Facility and any right of the Borrower to request borrowings or Letters of Credit thereunder; provided, that upon the occurrence of an Event of Default specified(or such other Person as may be lawfully entitled thereto). Except as expressly provided above in [Section 10.1(i) or (j)])]this [Article VIII], the Credit Facility shall be automatically terminated and all Obligations shall automatically become due and payable without presentment, demand, protest orand all other noticenotices of any kind, all of whichkind are hereby expressly waived by each Credit Party, anything in this Agreement or in any other Loan Document to the contrary notwithstanding.Borrower.

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