Common use of EFFECT OF AN EVENT OF DEFAULT Clause in Contracts

EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at Lender's option, all Indebtedness immediately will become due and payable, only after Borrower has exhausted all remedies under its Right to Cure section as referenced above, except that in the case of an Event of Default of the type described in the "Insolvency" subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect Lender's right to declare a default and to exercise its rights and remedies.

EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement Lender may, at its option, without further notice or the Related Documentsdemand, (a) terminate all commitments and obligations of Lender under this Agreement or the Related Documents or to make Loans to Borrower, if any, (b) declare all Loans and any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at Lender's option, all Indebtedness immediately will become due and payable, only after Borrower has exhausted all remedies (c) refuse to advance any additional amounts under its Right to Cure section as referenced abovethe Note, except that in the case of an Event of Default of the type described in the "Insolvency" subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have or (d) exercise all the rights and remedies provided in the Note or in any of the Related Documents or available at law, in equity, or otherwise; provided, however, if any Event of Default of the type described in the "Bankruptcy or Insolvency" subsection above shall occur, all Loans and any other Indebtedness shall automatically become due and payable, without any notice, demand or action by Lender. Except as may be prohibited by applicable law, all of Lender's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender to pursue any remedy remedies shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect Lender's right to declare a default and to exercise its rights and remedies.

EFFECT OF AN EVENT OF DEFAULT. If any In addition to the remedies provided in the Note upon the occurrence of a default thereunder, an Event of Default hereunder shall occur, except have the following effects. Except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements)at the sole option and discretion of Lend er terminate, and, at Lender's option’s sole option and discretion, all Indebtedness immediately will become due and payablepay able, only after Borrower has exhausted all remedies under its Right without notice of any kind to Cure section as referenced above, except that in Borrower. In the case of an Event of Default of the type described in the "“Death, Dissolution or Insolvency" ” subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equityequ ity, or otherwise. Except as may be prohibited by applicable law, all of Lender's ’s rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect Lender's ’s right to declare a default and to exercise its rights and remedies.

EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including Including any obligation to make further Loan Advances or disbursements), and, at Lender's option, all Indebtedness immediately Immediately will become due and payable, only after Borrower has exhausted all remedies under its Right without notice of any kind to Cure section as referenced aboveBorrower, except that in In the case of an Event of Default of the type described in In the "Insolvency" subsection above, such acceleration shall be automatic and end not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender Xxxxxx to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect LenderXxxxxx's right to declare a default and to exercise its rights and remedies.. PRIOR LOAN AGREEMENTS. This Business Loan Agreement (Asset Based) supersedes all prior Business Loan Agreements (Asset Based) between Lender and Borrower. MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Agreement:

EFFECT OF AN EVENT OF DEFAULT. If At any time after the occurrence and continuation of an Event of Default shall occurbeyond any applicable grace or cure period, except where otherwise provided in this Agreement or the Related Loan Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at Lender's ’s option, all Indebtedness immediately will become due and payable, only after Borrower has exhausted all remedies under its Right without notice of any kind to Cure section as referenced aboveBorrower, except that in the case of an Event of Default of the type described in the "“Insolvency" ” subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in this Agreement and the Related Loan Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender's ’s rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect Lender's ’s right to declare a default and to exercise its rights and remedies.

EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at Lender's option, all Indebtedness immediately sums owing in connection with the Loans, including all principal, interest, and all other fees, costs and charges, if any, will become immediately due and payable, only after Borrower has exhausted all remedies under its Right without notice of any kind to Cure section as referenced aboveBorrower, except that in the case of an Event of Default of the type described in the "Insolvency" subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect Lenderlender's right to declare a default and to exercise its rights and remedies.

EFFECT OF AN EVENT OF DEFAULT. If At any time after the occurrence and continuation of an Event of Default shall occurbeyond any applicable grace or cure period, except where otherwise provided in this Agreement or the Related Loan Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at Lender's ’s option, all Indebtedness immediately will become due and payable, only after Borrower has exhausted all remedies under its Right without notice of any kind to Cure section as referenced aboveBorrower, except that in the case of an Event of Default of the type described in the "“Insolvency" ” subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in this Agreement and the Related Loan Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender's ’s rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect Lender's ’s right to declare a default and to exercise its rights and remedies.

EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at Lender's option, all Indebtedness immediately sums owing in connection with the Loans, including all pnncipal, interest, and all other fees, costs and charges, if any, will become immediately due and payable, only after Borrower has exhausted all remedies under its Right without notice of any kind to Cure section as referenced aboveBorrower, except that in the case of an Event of Default of the type described in the "Insolvency" subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall shali have all the rights nghts and remedies provided remea~es provioed in the Related Documents or available at law, in equity, or otherwiseotnerwise. Except as may be prohibited by applicable applicaole law, all of Lender's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect Lender's right nght to declare a default and to exercise its rights nghts and remedies.

EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at Lender's option, all Indebtedness immediately will become due and payable, only after Borrower has exhausted all remedies under its Right without notice of any kind to Cure section as referenced aboveBorrower, except that in the case of an Event of Default of the type described in the "Insolvency" subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect Lender's right to declare a default and to exercise its rights and remedies.. MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Agreement:

EFFECT OF AN EVENT OF DEFAULT. If Subject to the CARES Act: if any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at Lender's ’s option, all Indebtedness immediately will become due and payable, only after Borrower has exhausted all remedies under its Right without notice of any kind to Cure section as referenced aboveBorrower, except that in the case of an Event of Default of the type described in the "“Insolvency" ” subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender's ’s rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender Lxxxxx to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect Lender's Lxxxxx’s right to declare a default and to exercise its rights and remedies.

EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occurhave occurred, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at Lender's ’s option, all Indebtedness immediately will become due and payable, only after Borrower has exhausted all remedies under its Right without notice of any kind to Cure section Borrowers other than as referenced aboveprovided for in this Agreement, except that in the case of an Event of Default of the type described in the "“Insolvency" ” subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender's ’s rights and remedies shall be cumulative and may be exercised singularly singularity or concurrently. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower any of Borrowers or of any Grantor shall not affect Lender's ’s right to declare a default an Event of Default and to exercise its rights and remedies.

EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at Lender's option, all Indebtedness immediately sums owing in connection with the Loans, including all principal, interest, and all other fees, costs and charges. if any, will become immediately due and payable, only after Borrower has exhausted all remedies under its Right without notice of any kind to Cure section as referenced aboveBorrower, except that in the case of an Event of Default of the type described in the "Insolvency" subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect Lender's right to declare a default and to exercise its rights and remedies.

EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at Lender's option, all Indebtedness immediately will become due and payable, only after Borrower has exhausted all remedies under its Right without notice of any kind to Cure section as referenced aboveBorrower, except that in the case of an Event of Default of the type described in the "Insolvency" subsection ================================================================================ above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect Lender's right to declare a default and to exercise its rights and remedies.. MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Agreement:

EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at Lender's option, all Indebtedness immediately sums owing in connection with the Loans, including all principal, interest, and all other fees, costs and charges, if any, will become immediately due and payable, only after Borrower has exhausted all remedies under its Right without notice of any kind to Cure section as referenced aboveBorrower, except that in the case of an Event of Default of the type described in the "Insolvency" subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect Lender's right to declare a default and to exercise its rights and remedies.. MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Agreement:

EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will BUSINESS LOAN AGREEMENT (Continued) ================================================================================ terminate (including any obligation to make further Loan Advances or disbursements), and, at Lender's Lenders option, all Indebtedness immediately will become due and payable, only after Borrower has exhausted all remedies under its Right without notice of any kind to Cure section as referenced aboveBorrower, except that in the case of an Event of Default of the type described in the "Insolvency" subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender's Lenders rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect Lender's right to declare a default and to exercise its rights and remedies.

EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occuroccur and subject to any cure period, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement will be immediately will terminate terminated (including any obligation to make further Loan Advances or disbursements)) at Lender’s option, and, at Lender's Xxxxxx’s option, all Indebtedness immediately will become due and payable, only after Borrower has exhausted all remedies under its Right without notice of any kind to Cure section as referenced aboveBorrower, except that in the case of an Event of Default of the type described in the "“Insolvency" ” subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender's ’s rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender Xxxxxx to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect Lender's Xxxxxx’s right to declare a default and to exercise its rights and remedies.

EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately Immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at Lender's option, all Indebtedness immediately will become due and payable, only after Borrower has exhausted all remedies under its Right without notice of any kind to Cure section as referenced aboveBorrower, except that in the case of an Event of Default of the type described in the "Insolvency" '; subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, equity or otherwise. Except as may be prohibited by applicable law, all of Lender's rights and and, remedies shall be cumulative and may be exercised singularly or concurrently. , Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall shall' not affect Lender's right to declare a default and to exercise its Its rights and remedies. CASH FLOW. The words "Cash Flow" mean the sum of net income after tax and exclusive of extraordinary gains, plus depreciation, amortization and interest expense minus dividends and distributions.

EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or Notes or the Related Documents, all commitments and obligations of Lender Lenders under this Agreement or Notes or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at Lender's Lenders’ option, all Indebtedness immediately will become due and payable, only after Borrower has exhausted all remedies under its Right without notice of any kind to Cure section as referenced aboveBorrower, except that in the case of an Event of Default of the type described in the "“Insolvency" ” subsection above, such acceleration shall be automatic and not optional. In addition, Lender Lenders shall each have all the rights and remedies provided in the this Agreement, Notes and Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable lawlaws, all of each Lender's ’s rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lenders or a Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect each Lender's ’s right to declare a default and to exercise its rights and remedies. Termination of this Agreement or Related Documents shall not terminate any Notes or the obligation of the Borrower to repay all Indebtedness owed to a Lender or to the Lenders.