Acceleration Upon Default. In the event Recipient is in default, the principal, together with a 5% fee thereon and liquidated damages, shall become immediately due and payable without notice or demand at the Commission's option.
Appears in 6 contracts
Sources: Non Matching Scholarship Loan Contract and Promissory Note, Matching Scholarship Loan Contract and Promissory Note, Matching Scholarship Loan Contract
Acceleration Upon Default. In the event Recipient is in default, the principal, together with a 5% fee thereon and liquidated damages, shall become immediately due and payable without notice or demand at the Commission's option.
Appears in 1 contract
Sources: Matching Scholarship Loan Contract