Common use of Acceleration of Note Clause in Contracts

Acceleration of Note. The County Board shall have the right to declare and cause all indebtedness of the Borrower to the County Board under this Agreement and the AHIF Note, together with any accrued interest thereon, to become immediately due and payable. After such declaration, interest on the AHIF Loan and any outstanding amount shall immediately begin to accrue interest at the Default Rate until paid to the County Board. The Borrower waives all right to presentment, demand, protest or notice of protest or dishonor. The County Board may proceed to enforce payment of the indebtedness and to exercise any or all rights afforded to the County Board as a creditor under the law including the Uniform Commercial Code. The Borrower shall be liable to pay the County Board on demand all reasonable expenses, costs and fees (including, without limitation, reasonable attorney’s fees and expenses) paid or incurred by the County Board in connection with the collection of the AHIF Loan or any other indebtedness related to this Agreement.

Acceleration of Note. The County Board shall have the right to declare and cause all indebtedness of the Borrower to the County Board under this Agreement and the AHIF County Note, together with any accrued interest thereon, to become immediately due and payable. After such declaration, interest on the AHIF County Loan and any outstanding amount shall immediately begin to accrue interest at the Default Rate until paid to the County Board. The Borrower waives all right to presentment, demand, protest or notice of protest or dishonor. The County Board may proceed to enforce payment of the indebtedness and to exercise any or all rights afforded to the County Board as a creditor under the law including the Uniform Commercial Code. The Borrower shall be liable to pay the County Board on demand all reasonable expenses, costs and fees (including, without limitation, reasonable attorney’s fees and expenses) paid or incurred by the County Board in connection with the collection of the AHIF County Loan or any other indebtedness related to this Agreement.

Acceleration of Note. The County Board shall have the right to declare and cause all indebtedness of the Borrower to the County Board under this Agreement and the AHIF CDBG Note, together with any accrued interest thereon, to become immediately due and payable. After such declaration, interest on the AHIF CDBG Loan and any outstanding amount shall immediately begin to accrue interest at the Default Rate until paid to the County Board. The Borrower waives all right to presentment, demand, protest or notice of protest or dishonor. The County Board may proceed to enforce payment of the indebtedness and to exercise any or all rights afforded to the County Board as a creditor under the law including the Uniform Commercial Code. The Borrower shall be liable to pay the County Board on demand all reasonable expenses, costs and fees (including, without limitation, reasonable attorney’s fees and expenses) paid or incurred by the County Board in connection with the collection of the AHIF CDBG Loan or any other indebtedness related to this Agreement.

Acceleration of Note. The County Board shall have the right to declare and cause all indebtedness of the Borrower to the County Board under this Agreement and the Amended and Restated AHIF Note, together with any accrued interest thereon, to become immediately due and payable. After such declaration, interest on the AHIF Loan and any outstanding amount shall immediately begin to accrue interest at the Default Rate until paid to the County Board. The Borrower waives all right to presentment, demand, protest or notice of protest or dishonor. The County Board may proceed to enforce payment of the indebtedness and to exercise any or all rights afforded to the County Board as a creditor under the law including the Uniform Commercial Code. The Borrower shall be liable to pay the County Board on demand all reasonable expenses, costs and fees (including, without limitation, reasonable attorney’s fees and expenses) paid or incurred by the County Board in connection with the collection of the AHIF Loan or any other indebtedness related to this Agreement.

Acceleration of Note. The County Board shall have the right to declare and cause all indebtedness of the Borrower to the County Board under this Agreement and the AHIF NoteAmended and Restated County Notes, together with any accrued interest thereon, to become immediately due and payable. After such declaration, interest on the AHIF Loan County Loans and any outstanding amount shall immediately begin to accrue interest at the Default Rate until paid to the County Board. The Borrower waives all right to presentment, demand, protest or notice of protest or dishonor. The County Board may proceed to enforce payment of the indebtedness and to exercise any or all rights afforded to the County Board as a creditor under the law including the Uniform Commercial Code. The Borrower shall be liable to pay the County Board on demand all reasonable expenses, costs and fees (including, without limitation, reasonable attorney’s fees and expenses) paid or incurred by the County Board in connection with the collection of the AHIF Loan County Loans or any other indebtedness related to this Agreement.

Acceleration of Note. The County Board shall have the right to declare and cause all indebtedness of the Borrower to the County Board under this Agreement and the AHIF Acquisition Note, together with any accrued interest thereon, to become immediately due and payable. After such declaration, interest on the AHIF Loan Acquisition Note and any outstanding amount shall immediately begin to accrue interest at the Default Rate until paid to the County Board. The Borrower waives all right to presentment, demand, protest or notice of protest or dishonor. The County Board may proceed to enforce payment of the indebtedness and to exercise any or all rights afforded to the County Board as a creditor under the law including the Uniform Commercial Code. The Borrower shall be liable to pay the County Board on demand all reasonable expenses, costs and fees (including, without limitation, reasonable attorney’s fees and expenses) paid or incurred by the County Board in connection with the collection of the AHIF Acquisition Loan or any other indebtedness related to this Agreement.

Acceleration of Note. The County Board shall have the right to declare and cause all indebtedness of the Borrower to the County Board under this Agreement and the AHIF NoteCounty Notes, together with any accrued interest thereon, to become immediately due and payable. After such declaration, interest on the AHIF Loan County Loans and any outstanding amount shall immediately begin to accrue interest at the Default Rate until paid to the County Board. The Borrower waives all right to presentment, demand, protest or notice of protest or dishonor. The County Board may proceed to enforce payment of the indebtedness and to exercise any or all rights afforded to the County Board as a creditor under the law including the Uniform Commercial Code. The Borrower shall be liable to pay the County Board on demand all reasonable expenses, costs and fees (including, without limitation, reasonable attorney’s fees and expenses) paid or incurred by the County Board in connection with the collection of the AHIF Loan County Loans or any other indebtedness related to this Agreement.