Common use of Acceleration of the Obligations Clause in Contracts

Acceleration of the Obligations. Upon the occurrence of an Event of Default as above provided, all or any portion of the Loan due or to become due from Borrower to Lender, whether under this Agreement, the Note or otherwise, shall, at the option of Lender, and without notice or demand by Lender, become at once due and payable together with all accrued and unpaid interest thereon; Borrower will thereafter forthwith pay to Lender, in addition to any and all sums and charges due, the entire principal of and interest accrued on the Loan.

Acceleration of the Obligations. Upon the occurrence of an Event of Default as above provided, all or any portion of the Loan obligations due or to become due from Borrower to Lender, whether under this Agreement, the Note or otherwise, each Lender shall, at the option of each Lender, and without notice or demand by such Lender, become at once due and payable together with all accrued and unpaid interest thereon; payable. Borrower will thereafter forthwith pay to each Lender, in addition to any and all sums and charges due, the entire outstanding principal of balance and interest accrued on the Loanthereon.