Common use of Demand by Lender Clause in Contracts

Demand by Lender. In addition to the terms of the guaranty set forth in Section 11.1 hereof, and in no manner imposing any limitation on such terms, it is expressly understood and agreed that, if the then outstanding principal amount of the Obligations under this Agreement (together with all accrued interest thereon) is declared to be immediately due and payable, then each Borrower shall, without demand, pay to the holders of the Obligations the entire outstanding Obligations due and owing to such holders. Payment by any Borrower shall be made to Lender, to be credited and applied to the Obligations, in immediately available Federal funds to an account designated by Lender or at the address set forth herein for the giving of notice to Lender or at any other address that may be specified in writing from time to time by Lender.

Demand by Lender. In addition to the terms of the guaranty Guaranty set forth in Section 11.1 2.1 hereof, and in no manner imposing any limitation on such terms, it is expressly understood and agreed that, if if, at any time, the then outstanding principal amount of the Guaranteed Obligations under this the Loan Agreement (together with including all accrued interest thereon) is declared to be immediately due and payable, then each Borrower Guarantor shall, without demand, pay to the holders of the Guaranteed Obligations the entire outstanding Guaranteed Obligations due and owing to such holders. Payment by any Borrower Guarantor shall be made to Lender, to be credited and applied to the Obligations, Lender in immediately available Federal funds to an account designated by Lender or at the address set forth herein for the giving of notice to Lender or at any other address that may be specified in writing from time to time by Lender, and shall be credited and applied to the Guaranteed Obligations.