Demand Obligations Clause Samples
The Demand Obligations clause establishes the requirement for a party to fulfill certain duties or payments immediately upon receiving a formal request or demand from the other party. In practice, this means that once a valid demand is made—such as for repayment of a loan or delivery of goods—the obligated party must comply without delay or the need for further conditions to be met. This clause ensures prompt action and provides certainty to the party making the demand, effectively reducing the risk of disputes or delays in performance.
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Demand Obligations. The Borrower’s failure to pay, or to cause to be paid, within five (5) Business Days of the Lender’s demand, any other amount required under the Note, this Deed of Trust or any of the other Loan Documents.
Demand Obligations. Nothing in this Agreement shall affect or abrogate the demand nature of any portion of the Obligations expressly made payable on demand by this Agreement or by any instrument evidencing or securing same, and the occurrence of an Event of Default shall not be a prerequisite for Lender's requiring payment of such Obligations.
Demand Obligations. The fact that this Agreement provides for Events of Default and rights of acceleration shall not derogate from the nature of any Obligation which is payable on demand.
Demand Obligations. All amounts due under this Section shall be payable not later than thirty days after written demand therefor.
Demand Obligations. The Leasing Company agrees that it will cause each of the Restricted Subsidiaries that is obligated on any Intercompany Note constituting Collateral that constitutes a demand obligation, within the meaning of Section 3-108 of the Uniform Commercial Code of the State of New York, to execute and deliver to the Collateral Agent and/or the Trustees a new instrument extending, renewing and replacing such demand obligation not later than the second anniversary of the date of original issue thereon and on each succeeding second anniversary thereof.
Demand Obligations. The Debtor agrees that the provisions of Section 5.1 and Section 5.2 will not affect the demand nature of any indebtedness or obligations payable on demand and the Secured Parties may demand payment of such indebtedness and obligations at any time without restriction, whether or not the Debtor has complied with the provisions of this Security Agreement or any other instrument between the Debtor and the Secured Parties.
Demand Obligations. Notwithstanding anything else in this Agreement to the contrary, if any of the Obligations are payable on demand by Bank, then, in such event, there are no conditions precedent to Bank’s right to demand payment of such Obligations, in whole or in part, at any time and from time to time, without prior notice, until the entire unpaid balance outstanding under such Obligations, including principal, interest, fees, premiums, charges and costs and expenses are paid in full. And, there are no conditions precedent to Bank exercising any of and all of its other rights and remedies at such time or times as it deems necessary or appropriate to recover full payment of the Obligations, including the exercise of any of and all of its rights and remedies set forth in Section 8.2 above, the exercise of any of and all of its other rights and remedies granted to it under the Loan Documents and the exercise of any of and all of its rights and remedies at law and in equity
Demand Obligations. All of the Obligations (other than the Term Loan(s)) of Borrowers shall be due and payable in full upon demand made by Lender, whether or not any Event of Default has occurred and whether or not Lender reasonably deems itself to be insecure. Demand may be made at any time or without reason. The enumeration in Section 9.1 hereof of certain Events of Default, and the enumeration of certain remedies available to Lender upon an Event of Default (as described in Sections , and hereof), does not in any way limit the right of Lender to otherwise demand payment in the absence of the occurrence of any Event of Default. Demand is not thereby qualified or in any way relative in nature.
Demand Obligations. The Mortgagor`s failure to pay, or to cause to be paid, within three (3) Business Days of Mortgagee's demand (such demand and time period being in addition to any other demand or period for payment, if any, expressly provided for elsewhere in this Mortgage), any other amount due under this Mortgage or any of the other Loan Documents.
Demand Obligations. Borrower acknowledges and agrees that the revolving credit loans are demand obligations, as defined in the Maine Uniform Commercial Code, Section 3-108, which may be called by Lender for full and immediate payment at any time, in Lender's sole discretion. Borrower acknowledges and agrees that the demand nature of such obligations is not waived by Lender or otherwise negated or affect in any way, notwithstanding any provisions herein, in the Note evidencing such loans or elsewhere which may indicate Lender's present willingness to accept various payments over time and notwithstanding references in this Agreement or in the Note to Defaults or Events of Default.