Common use of Bankruptcy or Insolvency or death Clause in Contracts

Bankruptcy or Insolvency or death. If the Borrower shall become bankrupt or insolvent or dies, or an application for insolvency under the Insolvency and Bankruptcy Code, the principal of and all accrued interest on the Loan and any other dues shall thereupon become due and payable forthwith, anything in this Agreement to the contrary notwithstanding.