Events of Default and Consequences of Events of Default. If the Customer fails to make payment in any amount owed when due to the Bank or fails to make payment within the specified period of time after the demand is made, the Customer agrees that the Bank shall be entitled to immediately call all payments to become due and payable and to apply the default interest at the Default Interest Rate as prescribed in Clause 7. above, including, to enforce all or part of collateral registered with the Bank in accordance with the procedures as required by laws.
