Common use of Actions Upon a Declaration of Default Clause in Contracts

Actions Upon a Declaration of Default. Upon declaration of default by the Lenders, the Lenders may: a. By notice to the Borrower, declare the loan payable under the Promissory Note and this Agreement to be forthwith due and payable, without presentment, demand, protest, or further notice of any kind, all of which are hereby expressly waived by the Borrower. b. Take whatever action at law or in equity may appear necessary or desirable to collect the payments and other amounts including principal, interest and liquidated damages then due and thereafter to become due or to enforce performance and observance of any obligation, agreement or covenant of the Borrower under this Agreement. No remedy herein conferred upon or reserved to the Lenders is intended to be exclusive of any other remedy or remedies, and each and every such remedy shall be cumulative, and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute.

Actions Upon a Declaration of Default. Upon declaration of default by the LendersLENDER, the Lenders LENDER may: a. 5.3.1 By notice to the BorrowerBORROWER, declare the loan payable under the Promissory Note and this Agreement to be forthwith due and payable, without presentment, demand, protest, or further notice of any kind, all of which are hereby expressly waived by the Borrower.BORROWER; b. 5.3.2 Take whatever action at law or in equity may appear necessary or desirable to collect the payments and other amounts including principal, interest and liquidated damages then due and thereafter to become due or to enforce performance and observance of any obligation, agreement or covenant of the Borrower BORROWER under this Agreement. No remedy herein conferred upon or reserved to the Lenders LENDER is intended to be exclusive of any other remedy or remedies, and each and every such remedy shall be cumulative, and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute.

Actions Upon a Declaration of Default. Upon declaration of default by the LendersXXXXXX, the Lenders XXXXXX may: a. 5.3.1 By notice to the BorrowerXXXXXXXX, declare the loan payable under the Promissory Note and this Agreement to be forthwith due and payable, without presentment, demand, protest, or further notice of any kind, all of which are hereby expressly waived by the Borrower.BORROWER; b. 5.3.2 Take whatever action at law or in equity may appear necessary or desirable to collect the payments and other amounts including principal, interest and liquidated damages then due and thereafter to become due or to enforce performance and observance of any obligation, agreement or covenant of the Borrower BORROWER under this Agreement. No remedy herein conferred upon or reserved to the Lenders LENDER is intended to be exclusive of any other remedy or remedies, and each and every such remedy shall be cumulative, and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute.

Actions Upon a Declaration of Default. Upon declaration of default by the Lenders, the Lenders may: a. By notice to the Borrower, declare the loan payable under the Promissory Note and this Agreement to be forthwith due and payable, without presentment, demand, protest, or further notice of any kind, all of which are hereby expressly waived by the Borrower.; b. Take whatever action at law or in equity may appear necessary or desirable to collect the payments and other amounts including principal, interest and liquidated damages then due and thereafter to become due or to enforce performance and observance of any obligation, agreement or covenant of the Borrower under this Agreement. No remedy herein conferred upon or reserved to the Lenders is intended to be exclusive of any other remedy or remedies, and each and every such remedy shall be cumulative, and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute.