Action on Note Sample Clauses
The "Action on Note" clause defines the procedures and rights related to enforcing or taking legal action on a promissory note. It typically outlines the steps a lender or noteholder may take if the borrower defaults, such as demanding payment, accelerating the debt, or initiating a lawsuit to recover the owed amount. This clause ensures that both parties understand the consequences of non-payment and provides a clear legal pathway for the noteholder to seek remedies, thereby protecting the lender’s interests and promoting prompt repayment.
Action on Note. The Indenture Trustee’s right to seek and recover judgment on the Notes or under this Indenture shall not be affected by the seeking, obtaining or application of any other relief under or with respect to this Indenture. Neither the Lien of this Indenture nor any rights or remedies of the Indenture Trustee or the Noteholders shall be impaired by the recovery of any judgment by the Indenture Trustee against the Issuer or by the levy of any execution under such judgment upon any portion of the Trust Estate or upon any of the assets of the Issuer. Any money or property collected by the Indenture Trustee shall be applied in accordance with Section 5.04(b).
Action on Note. The Noteholder’s and the Collateral Agent’s right to seek and recover judgment on the Note or under this Note Purchase Agreement or any other Transaction Document shall not be affected by the seeking, obtaining or application of any other relief under or with respect to this Note Purchase Agreement or any other Transaction Document. Neither the Lien of this Note Purchase Agreement nor any rights or remedies of the Collateral Agent or the Noteholder shall be impaired by the recovery of any judgment by the Collateral Agent against the Note Issuer or by the levy of any execution under such judgment upon any portion of the Timeshare Loans Collateral or upon any of the assets of the Note Issuer. Any money or property collected by the Collateral Agent shall be applied in accordance with the provisions of this Note Purchase Agreement.
Action on Note. The Note and other Loan Documents are separate and distinct instruments separately or collectively enforceable in accordance with their terms.