Common use of DEFAULT AND ACCELERATION Clause in Contracts

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 and is continuing, or on the happening of any other default and continuance thereof, 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. 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 Payee 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 fifth (5th) day after the date when due, or if any Event of Default (as defined in the Mortgage) occurs and is continuingoccurs, or on the happening of any other default and continuance thereofdefault, 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 PayeeLender, if an Event of Default of the type set forth in Section 22(g22(h) of the Mortgage occurs with respect to MakerBorrower. 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 Bxxxxxxx also agrees to pay reasonable attorneys' ’ fees for the services of such counsel whether or not suit be brought.

DEFAULT AND ACCELERATION. (a) The whole of the principal sum of this Note, together with all interest accrued and unpaid thereon(b) interest, and all other sums due under the Mortgage Default Interest (hereinafter definedas defined below), late charges and other sums, as provided in this Note, the Security Instrument or the other Loan Documents (hereinafter defineddefined below), (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 provisions of the Security Instrument to protect and preserve the Property (defined below) and the lien and the security interest created thereby, and (e) all reasonable sums advanced and costs and expenses incurred by Lender pursuant to the provisions of this Note Note, the Security Instrument or the other Loan Documents 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 such the sums hereinafter 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 Payee Lender if (i) any payment due on the Maturity Date Monthly Payment is not paid on such within five (5) days of the date or if when due, (ii) any other payment required in this Note portion of the Debt is not paid within five (5) days of the date when due, (iii) the entire Debt is not paid on or before the fifth Maturity Date or (5thiv) day after the date when due, or if any Event of Default (as defined in the Mortgage) occurs and is continuing, or on the happening of Borrower commits any other default default, and continuance thereof, after fails to cure same prior to the expiration of any applicable notice and grace periods, herein or under the terms of the Mortgage Security Instrument or any of the other Loan Documents (hereinafter collectively 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. The Borrower covenants and agrees that if (a) any payment required hereunder (other than the payment due on the Maturity Date) is not paid prior to the fifth (5th) day after the same is due, or (b) the entire Debt (defined below) is not paid on or before the Maturity Date or (c) any other Event of Default (as defined in the Security Instrument (defined below)) shall occur, then at the option of Lender (i) the whole of the principal sum of this Note, together with (ii) interest, default interest, late charges and other sums, as provided in this Note, the Security Instrument or the Other Security Documents (as defined in the Security Instrument), (iii) all other monies agreed or provided to be paid by Borrower in this Note, the Security Instrument or the Other Security Documents, (iv) all sums advanced pursuant to the Security Instrument to protect and preserve the Property (defined below) and the lien and the security interest accrued and unpaid thereoncreated thereby, and (v) all other sums due under advanced and costs and expenses incurred by Lender in connection with the Mortgage (hereinafter defined)Debt or any part thereof, any renewal, extension, or change of or substitution for the Loan Documents (hereinafter defined) and this Note 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 such the sums hereinafter referred to in (i) through (v) above shall collectively be 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 and is continuing, or on the happening of any other default and continuance thereof, 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. The Borrower covenants and agrees that if (a) any payment required hereunder (other than the payment due on the Maturity Date) is not paid prior to the fifth (5th) day after the same is due, or (b) the entire Debt (defined below) is not paid on or before the Maturity Date or (c) any other Event of Default (as defined in the Security Instrument (defined below)) shall continue to exist after giving effect to all applicable grace periods, then at the option of Lender (i) the whole of the principal sum of this Note, together with (ii) interest, default interest, late charges and other sums, as provided in this Note, the Security Instrument or the Other Security Documents (as defined in the Security Instrument), (iii) all other monies agreed or provided to be paid by Borrower in this Note, the Security Instrument or the Other Security Documents, (iv) all sums advanced pursuant to the Security Instrument to protect and preserve the Property (defined below) and the lien and the security interest accrued and unpaid thereoncreated thereby, and (v) all other sums due under advanced and costs and expenses incurred by Lender in connection with the Mortgage (hereinafter defined)Debt or any part thereof, any renewal, extension, or change of or substitution for the Loan Documents (hereinafter defined) and this Note 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 such the sums hereinafter referred to in (i) through (v) above shall collectively be referred to as the "“Debt"”) shall without notice become immediately due and payable at the option of Payee if payable. Whenever any payment to be made under this Note, the Security Instrument or under any Other Security Document shall be stated to be due on the Maturity Date a day which 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 and is continuing, or on the happening of any other default and continuance thereof, after the expiration of any applicable notice and grace periods, herein or under the terms of the Mortgage or other Loan Documents a Business Day (hereinafter collectively an "Event of Default"defined), and further provided that the Debt due date thereof shall automatically become be the Business Day 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 Makerpreceding such day. 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 For purposes hereof, Maker also agrees to pay reasonable attorneys' fees for the services of such counsel whether or not suit be brought.term “

DEFAULT AND ACCELERATION. The Time is of the essence hereof and it is expressly agreed that (a) if Borrower shall fail to make any payment under this Note within five (5) business days after receiving written notice that the same is due, (b) if a default shall occur and be continuing, after the expiration of any applicable notice and grace periods under the terms of that certain Office Lease dated on or about the date hereof by and between Borrower, as Tenant, and Lender, as Landlord, as the same may be amended from time to time (the "LEASE"), (each, an "EVENT OF DEFAULT") or (c) upon the expiration or sooner termination of the Lease, at the option of Lender (i) the whole of the principal sum of this Note, together with all interest accrued and unpaid thereon(ii) interest, default interest, late charges, and other sums, as provided in this Note, (iii) all other monies agreed to be paid or provided to be paid by Borrower in this Note, and (iv) all sums due under advanced and costs and expenses incurred by Lender in connection with the Mortgage Debt (hereinafter defineddefined below), or any part thereof, any renewal, extension, or change of or substitution for the Loan Documents (hereinafter defined) and this Note Debt or any part thereof, whether made or incurred at the request of Borrower or Lender (all such the sums hereinafter referred to in (i) through (iv) above shall collectively be referred to as the "DebtDEBT") shall without notice become immediately due and payable and Lender shall have the right, in addition to all other remedies available to it at law or in equity, to draw upon the option Note Letter 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 and is continuing, or on the happening of any other default and continuance thereof, after the expiration of any applicable notice and grace periods, herein or under Credit pursuant to the terms thereof for the full amount 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 broughtDebt.

DEFAULT AND ACCELERATION. The Borrower covenants and agrees that if (a) any payment required hereunder (other than the payment due on the Maturity Date) is not paid prior to the fifth (5th) day after the same is due, or (b) the entire Debt (defined below) is not paid on or before the Maturity Date or (c) any other Event of Default (as defined in the Security Instrument (defined below)) shall continue to exist after giving effect to all applicable grace periods, then at the option of Lender (i) the whole of the principal sum of this Note, together with (ii) interest, default interest, late charges and other sums, as provided in this Note, the Security Instrument or the Other Security Documents (as defined in the Security Instrument), (iii) all other monies agreed or provided to be paid by Borrower in this Note, the Security Instrument or the Other Security Documents, (iv) all sums advanced pursuant to the Security Instrument to protect and preserve the Property (defined below) and the lien and the security interest accrued and unpaid thereoncreated thereby, and (v) all other sums due under advanced and costs and expenses incurred by Lender in connection with the Mortgage (hereinafter defined)Debt or any part thereof, any renewal, extension, or change of or substitution for the Loan Documents (hereinafter defined) and this Note 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 such the sums hereinafter referred to in (i) through (v) above shall collectively be 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 and is continuing, or on the happening of any other default and continuance thereof, 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. The Borrower covenants and agrees that if (a) any payment required hereunder (other than the payment due on the Maturity Date) is not paid prior to the fifth (5th) day after the same is due, or (b) the entire Debt (defined below) is not paid on or before the Maturity Date or (c) any other Event of Default (as defined in the Security Instrument (defined below)) shall continue to exist after giving effect to all applicable grace periods, then at the option of Lender (i) the whole of the principal sum of this Note, together with (ii) interest, default interest, late charges and other sums, as provided in this Note, the Security Instrument or the Other Security Documents (as defined in the Security Instrument), (iii) all other monies agreed or provided to be paid by Borrower in this Note, the Security Instrument or the Other Security Documents, (iv) all sums advanced pursuant to the Security Instrument to protect and preserve the Property (defined below) and the lien and the security interest accrued and unpaid thereoncreated thereby, and (v) all other sums due under advanced and costs and expenses incurred by Lender in connection with the Mortgage (hereinafter defined)Debt or any part thereof, any renewal, extension, or change of or substitution for the Loan Documents (hereinafter defined) and this Note 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 such the sums hereinafter referred to in (i) through (v) above shall collectively be referred to as the "“Debt"”) shall without notice become immediately due and payable at the option of Payee if payable. Whenever any payment to be made under this Note, the Security Instrument or under any Other Security Document shall be stated to be 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 and is continuing, or on the happening of any other default and continuance thereof, 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.a day