Common use of Consequence of Default Clause in Contracts

Consequence of Default. If an Event of Default shall occur and be continuing the Lender at its option may: By written notice to the Borrower declare the New Loan, together with accrued interest and any other sum payable hereunder, to be immediately due and payable and the New Loan shall thereupon become due and payable without presentment, demand, protest or notice of any kind, other than the notices specifically required by this section, all of which are expressly waived by the Borrower; and the Borrower shall also pay to the Lender such additional amounts as may be necessary to compensate the Lender for any costs or losses resulting from such Event of Default. The Borrower may also explicitly enforce the security(ies) mentioned in Section 9.

Consequence of Default. If an Event of Default shall occur and be continuing the Lender at its option may: By written notice to the Borrower declare the New Loan, together with accrued interest and any other sum payable hereunder, to be immediately due and payable and the New Loan shall thereupon become due and payable without presentment, demand, protest or notice of any kind, other than the notices specifically required by this section, all of which are expressly waived by the Borrower; and the Borrower shall also pay to the Lender such additional amounts as may be necessary to compensate the Lender for any costs or losses resulting from such Event of Default. The Borrower may also explicitly enforce the security(ies) mentioned guarantees referenced in Section 96.

Consequence of Default. If an Event of Default shall occur and be continuing the Lender at its option may: By written notice to the Borrower declare the New Loan, together with accrued interest and any other sum payable hereunder, to be immediately due and payable and the New Loan shall thereupon become due and payable without presentment, demand, protest or notice of any kind, other than the notices specifically required by this section, all of which are expressly waived by the Borrower; and the Borrower shall also pay to the Lender such additional amounts as may be necessary to compensate the Lender for any costs or losses resulting from such Event of Default. The Borrower may also explicitly enforce the security(ies) mentioned in Section 9.