Common use of Acceleration of Maturity; Annulment of Acceleration Clause in Contracts

Acceleration of Maturity; Annulment of Acceleration. (a) If any Event of Default, as hereinafter defined, has occurred and is continuing, any Creditor may, by notice in writing to the Debtor and delivery of a copy thereof to the other Creditor, declare all unpaid principal and accrued interest on any or all of their respective Notes to be due and payable immediately; and upon any such declaration, all such unpaid principal and accrued interest shall immediately become due and payable, notwithstanding anything contained herein or in any Note to the contrary.

Acceleration of Maturity; Annulment of Acceleration. (a) If any Event of Default, as hereinafter defined, Default has occurred and is continuing, the Mortgagees and/or any Creditor other Noteholder may, by notice in writing to the Debtor Mortgagor and delivery of a copy thereof to the other CreditorNoteholders, if any, declare all unpaid principal and accrued interest on any or all of their respective Notes to be due and payable immediately; and upon any such declaration, all such unpaid principal and accrued interest shall immediately become due and payable, notwithstanding anything contained herein or in any Note to the contrary.

Acceleration of Maturity; Annulment of Acceleration. (a) If any Event of Default, as hereinafter defined, Default has occurred and is continuing, the Mortgagee and/or any Creditor other Noteholder may, by notice in writing to the Debtor Mortgagor and delivery of a copy thereof to the other CreditorNoteholders, if any, declare all unpaid principal and accrued interest on any or all of their respective Notes to be due and payable immediately; and upon any such declaration, all such unpaid principal and accrued interest shall immediately become due and payable, notwithstanding anything contained herein or in any Note to the contrary.

Acceleration of Maturity; Annulment of Acceleration. (a) If any Event of Default, as hereinafter defined, has occurred and is continuing, any Creditor may, by written notice in writing to the Debtor and delivery of a copy thereof to the other Creditor, declare all unpaid principal and accrued interest on any or all of their respective Notes to be due and payable immediately; and upon any such declaration, all such unpaid principal and accrued interest shall immediately become due and payable, notwithstanding anything contained herein or in any Note to the contrary.