Mortgagee’s Right to Accelerate. If an Event of Default shall occur the Mortgagee may declare the entire unpaid principal balance of the Note together with all other Indebtedness Secured Hereby to be immediately due and payable and thereupon all such unpaid principal balance of the Note together with all accrued interest thereon and all other Indebtedness Secured Hereby shall be and become immediately due and payable.
Appears in 2 contracts
Samples: Security Agreement (Talon Real Estate Holding Corp.), Mortgage and Security Agreement and Fixture Financing (Navarre Corp /Mn/)
Mortgagee’s Right to Accelerate. If an Event of Default shall occur the occur, Mortgagee may declare the entire unpaid principal balance of the Note together with all other Indebtedness Secured Hereby to be immediately due and payable and thereupon all such unpaid principal balance of the Note together with all accrued interest thereon at the Interest Rate and all other Indebtedness Secured Hereby shall be and become immediately due and payable. Any such payment shall be subject to the requirements, if any, in the Note providing for the payment of a prepayment premium.
Appears in 2 contracts
Samples: Mortgage and Security Agreement (Famous Daves of America Inc), Mortgage and Security Agreement (Famous Daves of America Inc)
