Common use of No Obligation to Extend or Forbear Clause in Contracts

No Obligation to Extend or Forbear. The Company acknowledges and agrees that the Lender: (a) upon execution hereof, has no duty or obligation of any kind to, and has made no representations of any kind or nature that the Lender will, extend credit or any other kind of financial accommodations to the Company after the Termination Date, or forbear at any time from the exercise of any of its rights or remedies under this Agreement, the Related Documents and applicable law; and (b) may at any time, in its sole and absolute discretion, exercise whatever rights and remedies the Lender may have under this Agreement, the Related Documents and applicable law. All Obligations shall be due in full on the Termination Date without further notice or demand.

Appears in 4 contracts

Samples: Credit Agreement (Independent Bank Corp), Credit Agreement (First Busey Corp /Nv/), Credit Agreement (First Busey Corp /Nv/)

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No Obligation to Extend or Forbear. The Company acknowledges and agrees that each of the LenderLenders: (a) upon execution hereof, has no duty or obligation of any kind to, and has made no representations of any kind or nature that the such Lender will, extend credit or any other kind of financial accommodations to the Company after the Termination Date, or forbear at any time from the exercise of any of its rights or remedies under this Agreement, the Related Documents and applicable law; and (b) may at any time, in its sole and absolute discretion, exercise whatever rights and remedies the such Lender may have under this Agreement, the Related Documents and applicable law. All Obligations shall be due in full on the Termination Date without further notice or demand.

Appears in 1 contract

Samples: Credit Agreement (United Community Banks Inc)

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