DEFAULT ON LOAN. 11.1 An event of default (Event of Default) occurs when you: 11.1.1 fail to pay any sum payable for a Loan granted under these Terms and Conditions for a period of ninety (90) consecutive days unless failure to pay is caused solely by an administrative error or technical problem; or are declared bankrupt. 11.2 At any time after an Event of Default has occurred which is continuing, CashFlow may, without prejudice to any other right or remedy granted to it under any law: 11.2.1 terminate this Agreement in accordance with clause 12 below; 11.2.2 declare that the Loan (and all accrued interest and all other amounts outstanding under this Agreement is immediately due and payable, whereupon they shall become immediately due and payable; and 11.2.3 supply information concerning the Event of Default to Credit Reference Bureaus. A copy of any adverse information concerning you sent to a Credit Reference Bureau shall be made available to you upon written request.
Appears in 1 contract
Samples: Loan Account Agreement
DEFAULT ON LOAN. 11.1 An event of default (Event of Default) occurs when you:
11.1.1 fail to pay any sum payable for a Loan granted under these Terms and Conditions for a period of ninety (90) consecutive days unless failure to pay is caused solely by an administrative error or technical problem; or are declared bankrupt.
11.2 At any time after an Event of Default has occurred which is continuing, CashFlow Aventus may, without prejudice to any other right or remedy granted to it under any law:
11.2.1 terminate this Agreement in accordance with clause 12 below;
11.2.2 declare that the Loan (and all accrued interest and all other amounts outstanding under this Agreement is immediately due and payable, whereupon they shall become immediately due and payable; and
11.2.3 supply information concerning the Event of Default to Credit Reference Bureaus. A copy of any adverse information concerning you sent to a Credit Reference Bureau shall be made available to you upon written request.
Appears in 1 contract
Samples: Loan Agreement
DEFAULT ON LOAN. 11.1 An event of default (Event of Default) occurs when you:
11.1.1 fail to pay any sum payable for a Loan granted under these Terms and Conditions for a period of ninety (90) consecutive days unless failure to pay is caused solely by an administrative error or technical problem; or are declared bankrupt.
11.2 At any time after an Event of Default has occurred which is continuing, CashFlow KOPAKARO LIMITED may, without prejudice to any other right or remedy granted to it under any law:
11.2.1 terminate Terminate this Agreement in accordance with clause 12 below;
11.2.2 declare Declare that the Loan (and all accrued interest and all other amounts outstanding under this Agreement is immediately due and payable, whereupon they shall become immediately due and payable; and
11.2.3 supply Supply information concerning the Event of Default to Credit Reference Bureaus. A copy of any adverse information concerning you sent to a Credit Reference Bureau shall be made available to you upon written request.
Appears in 1 contract
Samples: Loan Account Agreement
