Common use of Effects of an Event of Default Clause in Contracts

Effects of an Event of Default. (a) Upon the happening of one or more Events of Default (except an Event of Default under either Section 11.1(e) or 11.1(f)), Secured Party may declare any obligations it may have hereunder to be cancelled, and the principal of the Indebtedness then outstanding to be immediately due and payable, together with all interest thereon and costs and expenses accruing under the Transaction Documents. Upon such declaration, any obligations Secured Party may have hereunder shall be immediately cancelled, and the Indebtedness then outstanding shall become immediately due and payable without presentation, demand, or further notice of any kind to Debtor. (b) Upon the happening of one or more Events of Default under Section 11.1(e) or 11.1(f), Secured Party's obligations hereunder shall be cancelled immediately, automatically, and without notice, and the Indebtedness then outstanding shall become immediately due and payable without presentation, demand, or notice of any kind to the Debtor.

Effects of an Event of Default. (a) Upon the happening of one or more Events of Default (except an Event of Default under either Section 11.1(e12.1(e) or 11.1(f12.1(f)), Secured Party may declare any obligations it may have hereunder to be cancelledcanceled, and the principal of the Indebtedness then outstanding to be immediately due and payable, together with all interest thereon and costs and expenses accruing under the Transaction Documents. Upon such declaration, any obligations Secured Party may have hereunder shall be immediately cancelledcanceled, and the Indebtedness then outstanding shall become immediately due and payable without presentation, demand, or further notice of any kind to Debtor. (b) Upon the happening of one or more Events of Default under Section 11.1(e12.1(e) or 11.1(f12.1(f), Secured Party's obligations hereunder shall be cancelled canceled immediately, automatically, and without notice, and the Indebtedness then outstanding shall become immediately due and payable without presentation, demand, or notice of any kind to the Debtor.

Effects of an Event of Default. (a) Upon the happening of one or more Events of Default (except an Event of Default under either Section 11.1(el2.A.1.(d) or 11.1(fl2.A.l.(e)), Secured Party may declare any obligations it may have hereunder to be cancelled, and the principal of the Indebtedness then outstanding to be immediately due and payable, together with all interest thereon and costs and expenses accruing under the Transaction Documentsthis Agreement and any other document executed in connection herewith. Upon such declaration, any obligations Secured Party may have hereunder shall be immediately cancelled, and the Indebtedness then outstanding shall become immediately due and payable without presentation, demand, demand or further notice of any kind to Debtor. (b) Upon the happening of one or more Events of Default under Section 11.1(el2.A.1(d) or 11.1(f)l2.A.l.(e) hereof, Secured Party's ’s obligations hereunder shall be cancelled immediately, automatically, and without notice, and the Indebtedness then outstanding shall become immediately due and payable without presentation, demand, or notice of any kind to the Debtor.

Effects of an Event of Default. (a) Upon the happening of one or more Events of Default (except an Event of Default under either Section 11.1(e11.1(d) or 11.1(f)11.1(e), Secured Party may declare any obligations it may have hereunder to be cancelled, canceled and the principal of the Indebtedness then outstanding to be immediately due and payable, together with all interest thereon and costs and expenses accruing under the Transaction Documents. Upon such declaration, any obligations Secured Party may have hereunder shall be immediately cancelled, canceled and the Indebtedness then outstanding shall become immediately due and payable without presentation, demand, demand or further notice of any kind to Debtor. (b) Upon the happening of one or more Events of Default under Section 11.1(e11.1(d) or 11.1(f11.1(e), Secured Party's obligations hereunder shall be cancelled canceled immediately, automatically, and without notice, and the Indebtedness then outstanding shall become immediately due and payable without presentation, demand, or notice of any kind to the Debtor. 12. SECURED PARTY'S RIGHTS AND REMEDIES.

Effects of an Event of Default. (a) Upon the happening of one or more Events of Default (except an Event of Default under either Section 11.1(e9.1(d) or 11.1(f9.1(e)), Secured Party may declare any obligations it obligation Secured Party may have hereunder to be cancelled, and the principal of the Indebtedness then outstanding to be immediately due and payable, together with all interest thereon and costs and expenses accruing under the Transaction Documents. Upon such declaration, any obligations Secured Party may have hereunder shall be immediately cancelled, and the Indebtedness then outstanding shall become immediately due and payable without presentation, demand, or further notice of any kind to DebtorDebtors. (b) Upon the happening of one or more Events of Default under Section 11.1(e9.1(d) or 11.1(f9.1(e), Secured Party's obligations hereunder shall be cancelled immediately, automatically, and without notice, and the Indebtedness then outstanding shall become immediately due and payable without presentation, demand, or notice of any kind to the DebtorDebtors.