Common use of ACCELERATION UPON DEFAULT; REMEDIES Clause in Contracts

ACCELERATION UPON DEFAULT; REMEDIES. Upon the occurrence of any Default specified in this Article 11, Requisite Lenders may, at their sole option, declare all sums owing to Lenders under the Notes, this Agreement and the other Loan Documents immediately due and payable, and upon the occurrence of a Default described in Section 11.1(f) or Section 11.1(g) all sums owing to Lenders under the Notes, this Agreement and the other Loan Documents shall automatically become due and payable. Upon such acceleration, Administrative Agent may, and at Requisite Lender’s direction shall, in addition to all other remedies permitted under this Agreement and the other Loan Documents and at law or equity, apply any sums in any account pledged by Borrower as collateral for the Loan to the sums owing under the Loan Documents and any and all obligations of Lenders to fund further disbursements under the Loan (if any) shall terminate.

ACCELERATION UPON DEFAULT; REMEDIES. Upon the occurrence and during the continuation of a Default specified in Section 10.1(f) or Obligations shall automatically become immediately due and payable, without presentment, demand, protest, notice or other requirements of any kind, all of which are hereby expressly waived by Borrower. Upon the occurrence and during the continuation of any Default specified in this Article 11Article, Requisite Lenders other than a Default under Section 10.1(f) or Section 10.1(g), Lender may, at their its sole option, declare all sums owing to Lenders Lender under the NotesNote, this Agreement and the other Loan Documents immediately due and payable, and upon the occurrence of a Default described in Section 11.1(f) or Section 11.1(g) all sums owing to Lenders under the Notes, this Agreement and the other Loan Documents shall automatically become due and payable. Upon such acceleration, Administrative Agent Lender may, and at Requisite Lender’s direction shall, in addition to all other remedies permitted under this Agreement and the other Loan Documents and at law or equity, apply any sums in any account pledged by Borrower as collateral for the Loan Account to the sums owing under the Loan Documents and any and all obligations of Lenders Lender to fund further disbursements under the Loan (if any) shall terminate.