Common use of Acceleration; Termination Clause in Contracts

Acceleration; Termination. Upon the occurrence of an Event of Default described in Sections 12.1 through 12.18 above, inclusive, the Lender may and, without presentment, demand or notice of any kind all of which are hereby expressly waived by the Borrowers, declare all of the Obligations due or to become due from the Borrowers to the Lender and the Lender, whether under this Agreement, the Note or otherwise, immediately due and payable, anything in the Note or other evidence of the Obligations or in any of the other Loan Documents to the contrary notwithstanding.

Appears in 2 contracts

Sources: Credit and Security Agreement (Peak Resorts Inc), Credit and Security Agreement (Peak Resorts Inc)

Acceleration; Termination. Upon the occurrence of an Event of Default described in Sections 12.1 through 12.18 12.16 above, inclusive, the Lender may and, without presentment, demand or notice of any kind all of which are hereby expressly waived by the Borrowers, declare all of the Obligations due or to become due from the Borrowers to the Lender and the Lender, whether under this Agreement, the Note Notes or otherwise, immediately due and payable, anything in the Note Notes or other evidence of the Obligations or in any of the other Loan Documents to the contrary notwithstanding.

Appears in 2 contracts

Sources: Restructure Agreement (Peak Resorts Inc), Master Credit and Security Agreement (Peak Resorts Inc)

Acceleration; Termination. Upon the occurrence of an Event of Default described in Sections 12.1 through 12.18 12.16 above, inclusive, the Lender may and, without presentment, demand or notice of any kind all of which are hereby expressly waived by the Borrowers, declare all of the Obligations due or to become due from the Borrowers to the Lender and the Lender, whether under this Agreement, the Note or otherwise, immediately due and payable, anything in the Note or other evidence of the Obligations or in any of the other Loan Documents to the contrary notwithstanding.

Appears in 1 contract

Sources: Master Credit and Security Agreement (Peak Resorts Inc)