Common use of Rescission of Election to Accelerate Clause in Contracts

Rescission of Election to Accelerate. In the event the Lender shall elect to accelerate the maturity of any promissory note evidencing all or any part of the Obligations as to the Guarantor pursuant to the provisions of this Agreement, such election may be rescinded by written acknowledgment to that effect by the Lender; provided, however, that the acceptance of a partial payment on account of any promissory note evidencing all or any part of the Obligations shall not alone effect or rescind such election.

Rescission of Election to Accelerate. In the event the Lender shall elect to accelerate the maturity of any promissory note evidencing all or any part of the Secured Obligations as to the Guarantor pursuant to the provisions of this Agreement, such election may be rescinded by written acknowledgment to that effect by the Lender; provided, however, that the acceptance of a partial payment on account of any promissory note evidencing all or any part of the Secured Obligations shall not alone effect or rescind such election.

Rescission of Election to Accelerate. In the event the Lender shall elect to accelerate the maturity of any promissory note evidencing all or any part of the Obligations Note as to the Guarantor Guarantors pursuant to the provisions of this Agreement, such election may be rescinded by written acknowledgment to that effect by the Lender; provided, however, that the acceptance of a partial payment on account of any promissory note evidencing all or any part of the Obligations Note shall not alone effect or rescind such election.

Rescission of Election to Accelerate. In the event the Lender Banks and the Agent shall elect to accelerate the maturity of any promissory note evidencing all or any part of the Obligations as to the Guarantor pursuant to the provisions of this Agreement, such election may be rescinded by written acknowledgment to that effect by the LenderBanks and the Agent; provided, however, that the acceptance of a partial payment on account of any promissory note evidencing all or any part of the Obligations shall not alone effect or rescind such election.

Rescission of Election to Accelerate. In the event the Lender shall elect to accelerate the maturity of any promissory note evidencing all or any part of the Obligations Note as to the Guarantor pursuant to the provisions of this Agreement, such election may be rescinded by written acknowledgment to that effect by the Lender; provided, however, that the acceptance of a partial payment on account of any promissory note evidencing all or any part of the Obligations Note shall not alone effect or rescind such election.