CESSATION OF ADVANCES. Upon the occurrence of an Event of Default, the obligation of Lender to disburse the Loan and the Borrower’s Deposit and all other obligations of Lender hereunder shall, at Lender’s option, immediately terminate.
Appears in 3 contracts
Samples: Secured Construction Loan Agreement (Campus Crest Communities, Inc.), Secured Construction Loan Agreement (Campus Crest Communities, Inc.), Construction and Semi Permanent Loan Agreement (Advanced Environmental Recycling Technologies Inc)
CESSATION OF ADVANCES. Upon the occurrence of an Event of Default, the obligation of Lender to disburse the Loan and the Borrower’s 's Deposit and all other obligations of Lender hereunder shall, at Lender’s 's option, immediately terminate.
Appears in 3 contracts
Samples: Acquisition and Renovation Loan Agreement (Mego Financial Corp), Acquisition and Construction Loan Agreement (Mego Financial Corp), Acquisition and Development Loan Agreement (Oriole Homes Corp)
CESSATION OF ADVANCES. Upon the occurrence of an Event of Default, the obligation of Lender to disburse the Loan and the Borrower’s Deposit and all other obligations of Lender hereunder shall, at Lender’s 's option, immediately terminate.
Appears in 2 contracts
Samples: Loan Agreement (Capital Senior Living Corp), Loan Agreement (Capital Senior Living Corp)
CESSATION OF ADVANCES. Upon the occurrence of an Event of Default, after Lender has given the requisite notice and opportunity to cure as provided herein and if Borrower has failed to cure the default, the obligation of Lender to disburse the Loan and the Borrower’s 's Deposit and all other obligations of Lender hereunder shall, at Lender’s 's option, immediately terminate.
Appears in 1 contract
CESSATION OF ADVANCES. Upon the occurrence of an Event of Default, the obligation of Lender to disburse the Loan and the Borrower’s Deposit and all other obligations of Lender hereunder shall, at Lender’s option, immediately terminate.
Appears in 1 contract
Samples: Construction Loan Agreement (Meritage Hospitality Group Inc /Mi/)
CESSATION OF ADVANCES. Upon the occurrence of an Event of a Default, the obligation ---------------------- of Lender to disburse the Loan and the Borrower’s Deposit make any Advance and all other obligations of Lender hereunder and under the Loan Documents shall, at Lender’s 's option, immediately terminate.
Appears in 1 contract
Samples: Non Recourse Loan Agreement (Markwest Hydrocarbon Inc)
