Common use of Acceleration of Note Clause in Contracts

Acceleration of Note. Terminate making advances under the Working Capital Note, and the Loan Documents, and declare the Working Capital Note or any renewals or modifications thereof to be immediately due and payable whereupon the Working Capital Note or any renewals or modifications thereof shall become forthwith due and payable without presentment, demand, protest or notice of any kind, and Lender shall be entitled to proceed simultaneously or selectively and successively to enforce its rights under the Working Capital Note, the Deed of Trust, this Loan Agreement, and any or all of the Loan Documents, and any of the instruments executed pursuant to the terms thereof, or in connection therewith to evidence or secure the obligations of Borrower, and all renewals and modifications thereof. Nothing contained herein shall limit Lender’s rights and remedies available under applicable law.

Acceleration of Note. Terminate making advances under the Working Capital Mortgage Note, and the Loan Documents, and declare the Working Capital Mortgage Note or any renewals or modifications thereof to be immediately due and payable whereupon the Working Capital Mortgage Note or any renewals or modifications thereof shall become forthwith due and payable without presentment, demand, protest or notice of any kind, and Lender shall be entitled to proceed simultaneously or selectively and successively to enforce its rights under the Working Capital Mortgage Note, the Deed of Trust, this Loan Agreement, and any or all of the Loan Documents, and any of the instruments executed pursuant to the terms thereof, or in connection therewith to evidence or secure the obligations of Borrower, and all renewals and modifications thereof. Nothing contained herein shall limit Lender’s rights and remedies available under applicable law.

Acceleration of Note. Terminate making advances under the Working Capital Note, and the Loan Documents, and declare the Working Capital Note or any renewals or modifications thereof to be immediately due and payable whereupon the Working Capital Note or any renewals or modifications thereof shall become forthwith due and payable without presentment, demand, protest or notice of any kind, and the Lender shall be entitled to draw on the Collateral Letter of Credit, and proceed simultaneously or selectively and successively to enforce its rights under the Working Capital Note, the Deed of Trust, the Assignment of Rents, this Loan Agreement, and any or all of the Loan Documents, and any of the instruments executed pursuant to the terms thereof, or in connection therewith to evidence or secure the obligations of the Borrower, and all renewals and modifications thereof. Nothing contained herein shall limit Lender’s rights and remedies available under applicable law.