Common use of Cross-Default to Note, Pledge Agreement and Other Loan Documents Clause in Contracts

Cross-Default to Note, Pledge Agreement and Other Loan Documents. At the option of Lender, any Event of Default by Borrower under this Agreement shall constitute a default under the Note, the Pledge Agreement or any of the other Loan Documents to the same extent as though the Note had by its own terms become due and payable at maturity and payment thereof had been refused, and in such event Lender may, without liability to Borrower, assert and exercise any and all rights and remedies provided for herein or in the Note, the Pledge Agreement or any of the other Loan Documents or otherwise as may be provided by law. Such rights and remedies may be asserted concurrently or successively from time to time (either before or after commencement of foreclosure proceedings or before or after the exercise of any other remedy of Lender) until the Note, including interest thereon, and all of the Indebtedness of Borrower to Lender under this Agreement and the other Loan Documents, have been paid in full.

Cross-Default to Note, Pledge Agreement and Other Loan Documents. At the option of Lender, any Event of Default by Borrower Borrowers under this Agreement Agreement, or in the performance of any of the Borrowers’ covenants, agreements or obligations contained herein, shall constitute a default under the Note, the Pledge Agreement or any of the other Loan Documents to the same extent as though the Note had by its own terms become due and payable at maturity and payment thereof had been refused, and in such event Lender may, without liability to BorrowerBorrowers, assert and exercise any and all rights and remedies provided for herein or in the Note, the Pledge Agreement or any of the other Loan Documents or otherwise as may be provided by law. Such rights and remedies may be asserted concurrently or successively from time to time (either before or after commencement of foreclosure proceedings or before or after the exercise of any other remedy of Lender) until the Note, including interest thereon, and all of the Indebtedness of Borrower Borrowers to Lender under this Agreement and the other Loan Documents, have been paid in full.