Common use of Due and Payable Clause in Contracts

Due and Payable. Upon the occurrence of any Event of Default which has not been waived in writing by the Buyers (at the written direction of the Indenture Trustee on behalf of the Noteholders), the Buyers may (at the written direction of the Indenture Trustee on behalf of the Noteholders), by notice to the Sellers, declare all Obligations to be immediately due and payable, and any obligation of the Buyers to enter into Transactions with the Sellers shall thereupon immediately terminate. Upon such declaration, the Obligations shall become immediately due and payable, both as to Purchase Price outstanding and Price Differential, without presentment, demand, protest or notice of any kind, all of which are hereby expressly waived, anything contained herein or other evidence of such Obligations to the contrary notwithstanding, except with respect to any Event of Default set forth in Section 7.01(c), in which case all Obligations shall automatically become immediately due and payable without the necessity of any notice or other demand, and any obligation of the Buyers to enter into Transactions with the Sellers shall immediately terminate. The Buyers may enforce payment of the same and exercise any or all of the rights, powers and remedies possessed by the Buyers, whether under this Agreement or any other Program Agreement or afforded by Applicable Law.

Due and Payable. Upon the occurrence of any Event of Default which has not been waived in writing by the Buyers Buyer (at the written direction of the Indenture Trustee on behalf of the Noteholders), the Buyers Buyer may (at the written direction of the Indenture Trustee on behalf of the Noteholders), by notice to the SellersSeller, declare all Obligations to be immediately due and payable, and any obligation of the Buyers Buyer to enter into Transactions with the Sellers Seller shall thereupon immediately terminate. Upon such declaration, the Obligations shall become immediately due and payable, both as to Purchase Price outstanding and Price Differential, without presentment, demand, protest or notice of any kind, all of which are hereby expressly waived, anything contained herein or other evidence of such Obligations to the contrary notwithstanding, except with respect to any Event of Default set forth in Section 7.01(c), in which case all Obligations shall automatically become immediately due and payable without the necessity of any notice or other demand, and any obligation of the Buyers Buyer to enter into Transactions with the Sellers Seller shall immediately terminate. The Buyers Buyer may enforce payment of the same and exercise any or all of the rights, powers and remedies possessed by the BuyersBuyer, whether under this Agreement or any other Program Agreement or afforded by Applicable Law. For the avoidance of doubt, the Indenture Trustee, as assignee of the Buyer’s rights and claims under this Agreement, is authorized to and may (i) exercise the rights, powers and remedies of Buyer under this Section 7.03, and (ii) may sell or otherwise dispose of any or all of the Purchased Assets and the other Repurchase Assets in accordance with the terms of the Indenture.

Due and Payable. Upon the occurrence of any Event of Default which has not been waived in writing by the Buyers (at the written direction of the Indenture Trustee on behalf of the Noteholders)Buyer, the Buyers may (at the written direction of the Indenture Trustee on behalf of the Noteholders)Buyer may, by notice to the SellersRepo Seller, declare all Obligations to be immediately due and payable, and any obligation of the Buyers Buyer to enter into Transactions with the Sellers Repo Seller shall thereupon immediately terminate. Upon such declaration, the Obligations shall become immediately due and payable, both as to Purchase Price outstanding and Price Differential, without presentment, demand, protest or notice of any kind, all of which are hereby expressly waived, anything contained herein or other evidence of such Obligations to the contrary notwithstanding, except with respect to any Event of Default set forth in Section 7.01(c7.01(d), in which case all Obligations shall automatically become immediately due and payable without the necessity of any notice or other demand, and any obligation of the Buyers Buyer to enter into Transactions with the Sellers Repo Seller shall immediately terminate. The Buyers the Buyer may enforce payment of the same and exercise any or all of the rights, powers and remedies possessed by the BuyersBuyer, whether under this Agreement or Agreement, any other Program Agreement Agreement, the Agency Agreements or afforded by Applicable Law.

Due and Payable. Upon the occurrence of any Event of Default which has not been waived in writing by the Buyers Xxxxx (at the written direction of the Indenture Trustee on behalf of the Noteholders), the Buyers Buyer may (at the written direction of the Indenture Trustee on behalf of the Noteholders), by notice to the SellersSeller, declare all Obligations to be immediately due and payable, and any obligation of the Buyers Buyer to enter into Transactions with the Sellers Seller shall thereupon immediately terminate. Upon such declaration, the Obligations shall become immediately due and payable, both as to Purchase Price outstanding and Price Differential, without presentment, demand, protest or notice of any kind, all of which are hereby expressly waived, anything contained herein or other evidence of such Obligations to the contrary notwithstanding, except with respect to any Event of Default set forth in Section 7.01(c7.01(d), in which case all Obligations shall automatically become immediately due and payable without the necessity of any notice or other demand, and any obligation of the Buyers Buyer to enter into Transactions with the Sellers Seller shall immediately terminate. The Buyers Buyer may enforce payment of the same and exercise any or all of the LEGAL02/43438678v9 rights, powers and remedies possessed by the BuyersXxxxx, whether under this Agreement or any other Program Agreement or afforded by Applicable Law.

Due and Payable. Upon the occurrence of any Event of Default which has not been waived in writing by the Buyers Buyer (at the written direction of the Indenture Trustee on behalf of the Noteholders), the Buyers Buyer may (at the written direction of the Indenture Trustee on behalf of the Noteholders), by notice to the SellersSeller, declare all Obligations to be immediately due and payable, and any obligation of the Buyers Buyer to enter into Transactions with the Sellers Seller shall thereupon immediately terminate. Upon such declaration, the Obligations shall become immediately due and payable, both as to Purchase Price outstanding and Price Differential, without presentment, demand, protest or notice of any kind, all of which are hereby expressly waived, anything contained herein or other evidence of such Obligations to the contrary notwithstanding, except with respect to any Event of Default set forth in Section 7.01(c7.01(d), in which case all Obligations shall automatically become immediately due and payable without the necessity of any notice or other demand, and any obligation of the Buyers Buyer to enter into Transactions with the Sellers Seller shall immediately terminate. The Buyers Buyer may enforce payment of the same and exercise any or all of the rights, powers and remedies possessed by the BuyersBuyer, whether under this Agreement or any other Program Agreement or afforded by Applicable Law.