Common use of Full payment required Clause in Contracts

Full payment required. The acceptance by Agent of any sum after the same is due shall not constitute a waiver of the right either to require prompt payment, when due, of all other sums hereby secured or to declare a subsequent Event of Default as herein provided. The acceptance by Agent of any sum in an amount less than the sum then due shall be deemed an acceptance on account only and upon condition that it shall not constitute a waiver of the obligation of Borrower to pay the entire sum then due, and failure of Borrower to pay such entire sum then due shall, at the election of Agent, constitute an immediate Event of Default without the necessity for any further notice, notwithstanding such acceptance of such amount on account. Consent by Agent to any action or inaction of Borrower which is subject to consent or approval of Agent under this Agreement or any of the other Loan Documents shall not be deemed a waiver of the right to require such consent or approval to future or successive actions or inactions.

Full payment required. The acceptance by Agent Holder of any sum after the same is due shall not constitute a waiver of the right either to require prompt payment, when due, of all other sums hereby secured or to declare a subsequent Event of Default as herein provided. The acceptance by Agent Holder of any sum in an amount less than the sum then due shall be only deemed an acceptance on account only and upon condition that it shall not constitute a waiver of the obligation of Borrower Maker to pay the entire sum then due, and failure of Borrower Maker to pay such entire sum then due shall, at the election of AgentHolder, constitute an immediate Event of Default without the necessity for any further notice, notwithstanding such acceptance of such amount on account. Consent by Agent Holder to any action or inaction of Borrower Maker which is subject to consent or approval of Agent Maker under this Agreement Note or any of the other Loan Documents financing documents shall not be deemed a waiver of the right to require such consent or approval to future or successive actions or inactions.