Common use of Acknowledgment of Right of Acceleration Clause in Contracts

Acknowledgment of Right of Acceleration. That (i) on and as of the Effective Date, the Revolving Loan and all accrued and unpaid interest thereon, together with other outstanding charges permissible under the Credit Agreement, are due and payable in full, and Agent has the right to accelerate and declare all Obligations to be immediately due and payable and to make demand upon Borrower and Guarantors for the payment in full of all Obligations; (ii) such acceleration and demand for payment is in all respects adequate and proper; (iii) that Agent on its own behalf, or on behalf of the Lenders, has the right to exercise all other rights and remedies permitted under the Loan Documents; and (iv) Borrower waives any and all further notice, presentment, notice of dishonor or demand with respect to the Obligations.