DEFAULT AND ACCELERATION. The Debt shall without notice become immediately due and payable at the option of Lender if any payment required in this Note is not paid on or prior to the date when due or if not paid on the Maturity Date or on the happening of any other Event of Default.
DEFAULT AND ACCELERATION. Upon the occurrence of any one or more of the following events of default: (a) Customer fails to pay any amount when due under this Agreement or the Note or under any other instrument evidencing any indebtedness of Customer to Lender, (b) any representation or warranty made under this Agreement or information provided by Customer in connection with this Agreement is or was false or fraudulent in any material respect, (c) a material adverse change occurs in Customer’s financial condition, (d) Customer fails to timely observe or perform any of the covenants or duties contained in this Agreement, the Note or any Security Documents, (e) any guaranty of Customer’s obligations under this Agreement or the Note is revoked or becomes unenforceable for any reason or any such guarantor dies, ceases to exist or becomes the subject of any bankruptcy or insolvency proceeding, or (f) an event of default occurs under any Security Document or the Note; then, at Lender’s option, and upon written verbal notice to Customer, Lender’s obligation to make advances on the Loans under this Agreement shall terminate and the total unpaid balance shall become immediately due and payable without presentment, demand, protest, or further notice of any kind, all of which are hereby expressly waived by Customer. Lender’s obligation to make advances on the Loans under this Agreement shall automatically terminate and the total unpaid balance shall automatically become due and payable in the event Customer becomes the subject of bankruptcy or other insolvency proceedings. Lender may waive any default without waiving any other subsequent or prior default. Customer agrees to pay Lender’s costs of administration of this Agreement. Customer also agrees to pay all costs of collection before and after judgment, including reasonable attorneys’ fees (including those incurred in successful defense or settlement of any counterclaim brought by Customer or incident to any action or proceeding involving Customer brought pursuant to the United States Bankruptcy Code).
DEFAULT AND ACCELERATION. So long as an Event of Default exists, Lender may, at its option, without notice or demand to Borrower, declare the Debt immediately due and payable. All remedies hereunder, under the Loan Documents and at law or in equity shall be cumulative. In the event that it should become necessary to employ counsel to collect the Debt or to protect or foreclose the security for the Debt or to defend against any claims asserted by Borrower arising from or related to the Loan Documents, Xxxxxxxx also agrees to pay to Lender on demand all costs of collection or defense incurred by Xxxxxx, including reasonable attorneys’ fees for the services of counsel whether or not suit be brought.
DEFAULT AND ACCELERATION. (a) The whole of the principal sum of this Note, (b) interest, default interest, late charges and other sums, as provided in this Note, the Security Instrument or the other Loan Documents, (c) all other monies agreed or provided to be paid by Borrower in this Note, the Security Instrument or the other Loan Documents, (d) all sums advanced pursuant to the Security Instrument to protect and preserve the Property and the lien and the security interest created thereby, and (e) all sums advanced and costs and expenses incurred by Lender in connection with the Debt (defined below) or any part thereof, any renewal, extension, or change of or substitution for the Debt or any part thereof, or the acquisition or perfection of the security therefor, whether made or incurred at the request of Borrower or Lender (all the sums referred to in (a) through (e) above shall collectively be referred to as the “Debt”) shall without notice become immediately due and payable at the option of Lender if any payment required in this Note prior to the Maturity Date is not paid on the date when due or on the happening of any other default, after the expiration of any applicable notice and grace periods, herein or under the terms of the Security Instrument or any of the other Loan Documents (collectively, an “Event of Default”).
DEFAULT AND ACCELERATION. Borrower shall be in default upon the occurrence of any one or more of the events enumerated in Section A.4 above. Upon the occurrence of an Event of Default, Lender may, at its option, declare the entire unpaid balance of principal and interest on this Promissory Note, as well as the unpaid principal and interest on any other indebtedness or liability of Borrower to Lender, immediately due and payable without notice or demand. NOTICE OF ASSIGNMENT: Obligations under this Promissory Note have been pledged to CoBank, ACB, as administrative agent (“Administrative Agent”) for the benefit of certain lenders from time to time (collectively, the “Banks ”) to Lender under that certain Credit Agreement dated as of April 17, 2017, by and among the Lender, Administrative Agent, any Guarantors hereafter party thereto and the Banks (as amended, restated, modified, or supplemented from time to time hereafter, the "Credit Agreement"), and may be transferred or assigned to the Administrative Agent. In the event of such a transfer or assignment, the Administrative Agent will receive all of the rights, powers, and remedies of Lender. Any transfer of this Promissory Note, other than to the Administrative Agent, will violate the rights of the Administrative Agent as secured party unless the Administrative Agent consents to such transfer in writing.
DEFAULT AND ACCELERATION. Upon the occurrence of any one or more of the following events of default: (a) Customer fails to pay any amount when due under this Agreement or under any other instrument evidencing any other indebtedness of any Customer to Bank, (b) any representation or warranty made under this Agreement or information provided by Customer in connection with this Agreement is or was false or fraudulent in any material respect, (c) a material adverse change occurs in Customer's financial condition, (d) Customer fails to timely observe or perform any of the covenants or duties contained in this Agreement, (e) any guaranty of Customer's obligations under this Agreement is revoked or becomes unenforceable for any reason or any such guarantor dies, or (f) an event of default occurs under any security agreement securing payment under this Agreement, then, at Bank's option, and upon written or verbal notice to any Customer, Bank's obligation to make Loans under this Agreement shall terminate and this total unpaid balance shall become immediately due and payable without [o], demand, protest, or further notice of any kind, all of which are hereby expressly waived by Customer. Bank's obligation to make Loans under this Agreement will automatically terminate and the total unpaid balance shall automatically become due and payable in the event any Customer or guarantor becomes the subject of bankruptcy or other insolvency proceedings. Bank's receipt of any payment on this Agreement after the occurrence of an event of default shall not constitute a waiver of the default of the Bank's rights and remedies upon such default. All Customer's and guarantors agree to pay all costs of collecting before and after judgment, including reasonable attorneys' fees (including those incurred in successful defenses or settlement of any counterclaim brought by Customer or incident to any action or proceeding involving Customer brought pursuant to the United State Bankruptcy Code) providing, however, that if Arizona law is applicable to this Agreement and if the Credit Line is $10,000 or less. Customer agrees to pay court costs, expenses and reasonable attorneys' fees if the Loans are referred for collection to an attorney other than a salaried employee of Bank. Bank may amend the terms of this Agreement including the Credit Line, from time to time, and will mail to Customer at Customer's last known address shown on the records of Bank, advance written notice of any such amendment. To the extent permit...
DEFAULT AND ACCELERATION. The whole of the principal sum of this Note, together with all interest accrued and unpaid thereon, all Deferred Interest and interest accrued and unpaid thereon, and all other sums due under the Mortgage (hereinafter defined), the Loan Documents (as hereinafter defined) and this Note (all such sums hereinafter collectively referred to as the “Debt”) shall without notice become immediately due and payable at the option of Lender if any payment due on the Maturity Date is not paid on such date or if any other payment required in this Note is not paid on or before the date when due, or if any Event of Default (as defined in the Mortgage) occurs, or on the happening of any other default, after the expiration of any applicable notice and grace periods, herein or under the terms of the Mortgage or other Loan Documents (hereinafter collectively an “Event of Default”), and further provided that the Debt shall automatically become immediately due and payable, without notice or any exercise of any option on the part of Lender, if an Event of Default of the type set forth in Section 22(h) of the Mortgage occurs with respect to Borrower. All of the terms, covenants and conditions contained in the Mortgage and the other Loan Documents are hereby made part of this Note to the same extent and with the same force as if they were fully set forth herein. In the event that it should become necessary to employ counsel to collect the Debt or to protect or foreclose the security hereof, Bxxxxxxx also agrees to pay reasonable attorneys’ fees for the services of such counsel whether or not suit be brought.
DEFAULT AND ACCELERATION. The whole of the principal sum of this Note, together with all interest accrued and unpaid thereon, and all other sums due under the Mortgage (hereinafter defined), the Loan Documents (hereinafter defined) and this Note (all such sums hereinafter collectively referred to as the "Debt") shall without notice become immediately due and payable at the option of Payee if any payment due on the Maturity Date is not paid on such date or if any other payment required in this Note is not paid on or before the fifth (5th) day after the date when due, or if any Event of Default (as defined in the Mortgage) occurs, or on the happening of any other default, after the expiration of any applicable notice and grace periods, herein or under the terms of the Mortgage or other Loan Documents (hereinafter collectively an "Event of Default"), and further provided that the Debt shall automatically become immediately due and payable, without notice or any exercise of any option on the part of Payee, if an Event of Default of the type set forth in Section 22(g) of the Mortgage occurs with respect to Maker. All of the terms, covenants and conditions contained in the Mortgage and the other Loan Documents are hereby made part of this Note to the same extent and with the same force as if they were fully set forth herein. In the event that it should become necessary to employ counsel to collect the Debt or to protect or foreclose the security hereof, Maker also agrees to pay reasonable attorneys' fees for the services of such counsel whether or not suit be brought.
DEFAULT AND ACCELERATION. If I fail to pay any installment when due the entire unpaid indebtedness, at the option of the Employer, may become immediately due and payable.
DEFAULT AND ACCELERATION. Time is of the essence of this Mortgage. Upon the occurrence of any Event of Default (as defined below), and at any time thereafter, then, in any and every such case, the amounts due under the Agreements shall, at the option of Mortgagee, become immediately due and payable without any notice, presentment, demand, protest, notice of protest, or other notice of dishonor or demand of any kind, all of which are hereby expressly waived by Xxxxxxxxx, and Mortgagee shall have the right immediately to foreclose the mortgage lien created by this Mortgage against the Property, to enforce every other security interest created by this Mortgage and to institute any action, suit, or other proceeding that Mortgagee may deem necessary or proper for the protection of its interests. The following shall each constitute an “Event of Default” for purposes of this Mortgage: (a) default (i) in the payment when due of any amounts due under the Agreements, or (ii) in the performance any of the Obligations or any covenant or term of this Mortgage; (b) sublease, assignment, sale, contracting for sale, transfer, or encumbrance of all or any part of the Property; (c) if Mortgagor becomes the subject of an order for relief under the United States Bankruptcy Code, takes any action to obtain relief under the United States Bankruptcy Code, files an answer admitting bankruptcy or insolvency or in any manner is adjudged bankrupt or insolvent; (d) any part of the Property or all or any substantial part of the Property or assets of Mortgagor (or any one of them, if more than one) is placed in the hands of any receiver or trustee, or Mortgagor (or any one of them, if more than one) consents, agrees, or acquiesces to the appointment of any such receiver or trustee; and (e) the institution of proceedings to enforce or foreclose any mortgage or lien upon all or any part of the Property.
