Common use of Consequences of Events of Default Clause in Contracts

Consequences of Events of Default. If an Event of Default of the type described in subparagraph 3(a)(ii) has occurred the aggregate principal amount of the Note (together with all accrued interest thereon and all other amounts payable in connection therewith) shall become immediately due and payable without any action on the part of the Company, and Maker shall immediately pay to the Company all amounts due and payable with respect to the Note. If an Event of Default of the type described in subparagraph 3(a)(i) has occurred and continued for 5 days, the Company may declare all or any portion of the outstanding principal amount of the Note (together with all accrued interest thereon and all other amounts due in connection therewith) due and payable and demand immediate payment of all or any portion of the outstanding principal amount of the Note. Maker, or his successors and assigns, hereby waives diligence, presentment, protest and demand and notice of protest and demand, dishonor and nonpayment of this Note, and expressly agrees that this Note, or any payment hereunder, may be extended from time to time and that the Company may accept security for this Note or release security for this Note, all without in any way affecting the liability of Maker hereunder. In the event that Maker fails to pay any amounts due hereunder when due, Maker shall pay to the Company, in addition to such amounts due, all costs of collection, including reasonable attorneys fees.

Consequences of Events of Default. If an Event of Default of the type described in subparagraph 3(a)(ii) has occurred the aggregate principal amount of the Note (together with all accrued interest thereon and all other amounts payable in connection therewith) shall become immediately due and payable without any action on the part of the Company, and Maker shall immediately pay to the Company all amounts due and payable with respect to the Note. If an Event of Default of the type described in subparagraph 3(a)(i) has occurred and continued for 5 days, the Company may declare all or any portion of the outstanding principal amount of the Note (together with all accrued interest thereon and all other amounts due in connection therewith) due and payable and demand immediate payment of all or any portion of the outstanding principal amount of the Note. Maker, or his his/her successors and assigns, hereby waives diligence, presentment, protest and demand and notice of protest and demand, dishonor and nonpayment of this Note, and expressly agrees that this Note, or any payment hereunder, may be extended from time to time and that the Company may accept security for this Note or release security for this Note, all without in any way affecting the liability of Maker hereunder. In the event that Maker fails to pay any amounts due hereunder when due, Maker shall pay to the Company, in addition to such amounts due, all costs of collection, including reasonable attorneys fees.

Consequences of Events of Default. If an Upon the occurrence of any Event of Default of the type described in subparagraph 3(a)(iithe foregoing clauses 3.1(d) has occurred or 3.1(e), the aggregate unpaid principal amount of the Note (owing under this Note, together with all accrued and unpaid interest thereon and all other amounts due and payable in connection therewith) with respect thereto, shall automatically become immediately due and payable payable, without presentment, demand, protest, notice of intent to accelerate, notice of acceleration or other requirements of any action on the part kind, all of which are hereby expressly waived by the Company, and Maker shall the Company will immediately pay to the Company Holder all amounts due and payable with respect to the this Note. If an Upon the occurrence and during the continuance of any other Event of Default of the type described in subparagraph 3(a)(i) has occurred and continued for 5 daysDefault, the Company may Holder of this Note may, by written notice to the Company, declare all or any portion of the outstanding unpaid principal amount of the owing under this Note to be due and payable, whereupon such unpaid principal amount (together with all accrued and unpaid interest thereon and all other amounts due in connection therewithand payable with respect thereto) shall automatically become immediately due and payable, without any other notice of any kind and without presentment, demand, protest or other requirements of any kind, all of which are hereby expressly waived by the Company, and the Company will immediately pay to the Holder of this Note all such amounts declared to be due and payable and demand immediate payment of all or any portion of the outstanding principal amount of the Note. Maker, or his successors and assigns, hereby waives diligence, presentment, protest and demand and notice of protest and demand, dishonor and nonpayment of with respect to this Note, and expressly agrees that this Note, or any payment hereunder, may be extended from time to time and that the Company may accept security for this Note or release security for this Note, all without in any way affecting the liability of Maker hereunder. In the event that Maker fails to pay any amounts due hereunder when due, Maker shall pay to the Company, in addition to such amounts due, all costs of collection, including reasonable attorneys fees.

Consequences of Events of Default. If an Event of Default of the type described in subparagraph 3(a)(ii) has occurred the aggregate principal amount of the Note (together with all accrued interest thereon and all other amounts payable in connection therewith) shall become immediately due and payable without any action on the part of the Company, and Maker shall immediately pay to the Company all amounts due and payable with respect to the Note. If an Event of Default of the type described in subparagraph 3(a)(i) has occurred and continued for 5 days, the Company may declare all or any portion of the outstanding principal amount of the Note (together with all accrued interest thereon and all other amounts due in connection therewith) due and payable and demand immediate payment of all or any portion of the outstanding principal amount of the Note. Maker, or his her successors and assigns, hereby waives diligence, presentment, protest and demand and notice of protest and demand, dishonor and nonpayment of this Note, and expressly agrees that this Note, or any payment hereunder, may be extended from time to time and that the Company may accept security for this Note or release security for this Note, all without in any way affecting the liability of Maker hereunder. In the event that Maker fails to pay any amounts due hereunder when due, Maker shall pay to the Company, in addition to such amounts due, all costs of collection, including reasonable attorneys fees.

Consequences of Events of Default. If an Event of Default of the type described in subparagraph 3(a)(ii4(a)(i) has occurred occurred, the Lender may declare all of the outstanding principal amount of the Note (together with all accrued and unpaid interest thereon and all other amounts due in connection therewith) due and payable and demand immediate payment of all of the outstanding principal amount of and accrued and unpaid interest on the Note. If an Event of Default of the type described in subparagraph 4(a)(ii) or 4(a)(iii) has occurred, the aggregate principal amount of the Note (together with all accrued and unpaid interest thereon and all other amounts payable in connection therewith) shall become immediately due and payable without any action on the part of the CompanyLender, and Maker Borrower shall immediately pay to the Company Lender all amounts due and payable with respect to the Note. If an Event of Default of the type described in subparagraph 3(a)(i) has occurred and continued for 5 days, the Company may declare all or any portion of the outstanding principal amount of the Note (together with all accrued interest thereon and all other amounts due in connection therewith) due and payable and demand immediate payment of all or any portion of the outstanding principal amount of the Note. MakerBorrower, or his its successors and assigns, hereby waives diligence, presentment, protest and demand and notice of protest and demand, dishonor and nonpayment of this Note, and expressly agrees that this Note, or any payment hereunder, may be extended from time to time and that the Company Lender may accept security for this Note or release security for this Note, all without in any way affecting the liability of Maker Borrower hereunder. In the event that Maker Xxxxxxxx fails to pay any amounts due hereunder when due, Maker Borrower shall pay to the CompanyLender, in addition to such amounts due, all costs of collection, including reasonable attorneys Xxxxxx’s attorneys’ fees.

Consequences of Events of Default. If an Upon the occurrence of any Event of Default of the type described in subparagraph 3(a)(ii) has occurred the aggregate foregoing clause 3.1(c), the unpaid principal amount of the Note (owing under this Note, together with all accrued and unpaid interest thereon and all other amounts due and payable in connection therewith) with respect thereto, shall automatically become immediately due and payable payable, without presentment, demand, protest, notice of intent to accelerate, notice of acceleration or other requirements of any action on kind, all of which are hereby expressly waived by the part of Company and the Company, and Maker shall Company will immediately pay to the Company Holder all amounts due and payable with respect to the this Note. If an Upon the occurrence and during the continuance of any other Event of Default of the type described in subparagraph 3(a)(i) has occurred and continued for 5 daysDefault, the Company may Holder of this Note may, by written notice to the Company, declare all or any portion of the outstanding unpaid principal amount of the owing under this Note to be due and payable, whereupon such unpaid principal amount (together with all accrued and unpaid interest thereon and all other amounts due in connection therewithand payable with respect thereto) shall automatically become immediately due and payable, without any other notice of any kind and without presentment, demand, protest or other requirements of any kind, all of which are hereby expressly waived by the Company and the Company will immediately pay to the Holder of this Note all such amounts declared to be due and payable and demand immediate payment with respect to this Note. The provisions of all or any portion this Section 3.2 are subject to the terms of the outstanding principal amount of the Note. Maker, or his successors and assigns, hereby waives diligence, presentment, protest and demand and notice of protest and demand, dishonor and nonpayment of this Note, and expressly agrees that this Note, or any payment hereunder, may be extended from time to time and that the Company may accept security for this Note or release security for this Note, all without in any way affecting the liability of Maker hereunder. In the event that Maker fails to pay any amounts due hereunder when due, Maker shall pay to the Company, in addition to such amounts due, all costs of collection, including reasonable attorneys feesSubordination Agreement.

Consequences of Events of Default. If an Event of Default of the type described in subparagraph 3(a)(ii) has occurred the aggregate principal amount of the Note (together with all accrued interest thereon and all other amounts payable in connection therewith) shall become immediately due and payable without any action on the part of the CompanyLender, and Maker Borrower shall immediately pay to the Company Lender all amounts due and payable with respect to the Note. If an Event of Default of the type described in subparagraph 3(a)(i) has occurred and continued continues for 5 days, the Company Lender may declare all or any portion of the outstanding principal amount of the Note (together with all accrued interest thereon and all other amounts due in connection therewith) due and payable and demand immediate payment of all or any portion of the outstanding principal amount of the Note. MakerBorrower, or his its successors and assigns, hereby waives diligence, presentment, protest and demand and notice of protest and demand, dishonor and nonpayment of this Note, and expressly agrees that this Note, or any payment hereunder, may be extended from time to time and that the Company Lender may accept security for this Note or release security for this Note, all without in any way affecting the liability of Maker Borrower hereunder. In the event that Maker Borrower fails to pay any amounts due hereunder when due, Maker Borrower shall pay to the CompanyLender, in addition to such amounts due, all costs of collection, including reasonable attorneys fees.: