Common use of EVENT OF DEFAULT AND SECONDARY INTEREST Clause in Contracts

EVENT OF DEFAULT AND SECONDARY INTEREST. (a) The occurrence of an "Event of Default" under any Loan Document shall constitute on Event of Default under this note. Upon the occurrence of an Event of Default (including without limitation the failure of the Maker to observe the provisions of paragraph 27 of the Deed of Trust, Holder, at its option may cause the Principal Balance together with all unpaid accrued interest, any Prepayment Premium (as hereinafter defined) and any other sums evidenced or secured by this Note or any Loan Document, to be immediately due and payable, without further presentment, demand, protest or notice of any kind, by so notifying Maker in writing ("Acceleration Notice"); and in the event of such election by Holder, Holder shalx xxxxe any late charge or per diem late charge.

EVENT OF DEFAULT AND SECONDARY INTEREST. (a) The occurrence of an "Event of Default" under any Loan Document shall constitute on an Event of Default under this noteNote. Upon the occurrence of an Event of Default default (including without limitation the failure of the Maker to observe the provisions of paragraph 27 of the Deed of Trust, Holder, at its option may cause the Principal Balance together with all unpaid accrued interest, any Prepayment Premium (as hereinafter defined) and any other sums evidenced or secured by this Note or any Loan Document, to be immediately due and payable, without further presentment, demand, protest or notice of any kind, by so notifying Maker in writing ("Acceleration Notice"); and in the event of such election by Holder, Holder shalx xxxxe any late charge or per diem late charge.

EVENT OF DEFAULT AND SECONDARY INTEREST. (a) The occurrence of an "Event of Default" under any Loan Document shall constitute on Event of Default under this note. Upon the occurrence of an Event of Default (including without limitation the failure of the Maker to observe the provisions of paragraph 27 of the Deed of Trust, Holder, at its option may cause the Principal Balance together with all unpaid accrued interest, any Prepayment Premium (as hereinafter defined) and any other sums evidenced or secured by this Note or any Loan Document, to be immediately due and payable, without further presentment, demand, protest or notice of any kind, by so notifying Maker in writing ("Acceleration Notice"); and in the event of such election by HolderXxxxxx, Holder shalx xxxxe shall waive any late charge or per diem late charge.

EVENT OF DEFAULT AND SECONDARY INTEREST. (a) The occurrence of an "Event of Default" under any Loan Document shall constitute on an Event of Default under this noteNote. Upon the occurrence of an Event of Default default (including without limitation the failure of the Maker to observe the provisions of paragraph 27 of the Deed of Trust, Holder, at its option may cause the Principal Balance together with all unpaid accrued interest, any Prepayment Premium (as hereinafter defined) and any other sums evidenced or secured by this Note or any Loan Document, to be immediately due and payable, without further presentment, demand, protest or notice of any kind, by so notifying Maker in writing ("Acceleration Notice"); and in the event of such election by HolderXxxxxx, Holder shalx xxxxe shall waive any late charge or per diem late charge.