EVENT OF DEFAULT & REMEDIES OF THE BANK. If one or more of the events specified in this Article (hereinafter called “Event of Default”) shall have happened, then the Bank by a written notice to the Borrower may declare that the principal, all accrued interest and all other amounts payable by the Borrower shall become payable forthwith by the Borrower to the Bank under or in terms of this Agreement, and upon such declaration the same shall become due and payable forthwith and the Security, created in favour of the Bank for the Loan shall become enforceable.
Appears in 3 contracts
Samples: Loan Agreement, Loan Agreement, Home Equity Loan Agreement
EVENT OF DEFAULT & REMEDIES OF THE BANK. If one or more of the events specified in this Article (hereinafter called “Event of Default”) shall have happened, then the Bank by a written notice to the Borrower may declare that the principal, all accrued interest and all other amounts payable by the Borrower shall become payable forthwith by the Borrower to the Bank under or in terms of this Agreement, and upon such declaration the same shall become due and payable forthwith and the Security, created in favour of the Bank for the Loan Overdraft Facility shall become enforceable.
Appears in 2 contracts
Samples: Overdraft Agreement, Overdraft Agreement
EVENT OF DEFAULT & REMEDIES OF THE BANK. If one or more of the events specified in this Article (hereinafter called “"Event of Default”") shall have happened, then the Bank by a written notice to the Borrower may declare that the principal, all accrued interest and all other amounts payable by the Borrower shall become payable forthwith by the Borrower to the Bank under or in terms of this Agreement, and upon such declaration the same shall become due and payable forthwith and the Security, created in favour of the Bank for the Loan shall become enforceable.Bank
Appears in 1 contract
Samples: Personal Loan Overdraft Agreement
