Common use of Remedies of Lender Clause in Contracts

Remedies of Lender. Upon the happening of an Event of Default, then Lender may, at its option, upon written notice to Borrower: (a) Commence an appropriate legal or equitable action to enforce performance of this Agreement; (b) Accelerate the payment of the Note and the Loan, apply all or any portion of any equity funds toward payment of the Loan, and commence appropriate legal and equitable action to collect all such amounts due Lender; or (c) Exercise any other rights or remedies Lender may have under the Loan Documents referred to in this Agreement or executed in connection with the Loan or which may be available under applicable law.

Remedies of Lender. Upon the happening of an Event of Default, then Lender may, at its option, upon written notice to Borrower: (a) Cancel this Agreement; (b) Commence an appropriate legal or equitable action to enforce performance of this Agreement; (bc) Accelerate the payment of the Note and the Loan, apply all or Loan and any portion of any equity funds toward payment of other sums secured by the Loan, Security Agreement and commence appropriate legal and equitable action to collect all such amounts due Lender; orand (cd) Exercise any other rights or remedies Lender may have under the Security Agreement, the Mortgage or other Loan Documents referred to in this Agreement or executed in connection with the Loan or which may be available under applicable law.