Common use of DEFAULT AND ACCELERATION Clause in Contracts

DEFAULT AND ACCELERATION. (a) The whole of the principal sum of this Note, (b) interest, Default Interest (as defined below), late charges and other sums, as provided in this Note, the Security Instrument or the other Loan Documents (defined below), (c) all other monies agreed or provided to be paid by Borrower in this Note, the Security Instrument or the other Loan Documents, (d) all sums advanced pursuant to the provisions of the Security Instrument to protect and preserve the Property (defined below) and the lien and the security interest created thereby, and (e) all reasonable sums advanced and costs and expenses incurred by Lender pursuant to the provisions of this Note, the Security Instrument or the other Loan Documents in connection with the Debt (defined below) or any part thereof, any renewal, extension or change of or substitution for the Debt or any part thereof, or the acquisition or perfection of the security therefor, whether made or incurred at the request of Borrower or Lender (all the sums referred to in (a) through (e) above shall collectively be referred to as the “Debt”) shall without notice become immediately due and payable at the option of Lender if (i) any Monthly Payment is not paid within five (5) days of the date when due, (ii) any other portion of the Debt is not paid within five (5) days of the date when due, (iii) the entire Debt is not paid on or before the Maturity Date or (iv) Borrower commits any other default, and fails to cure same prior to the expiration of any applicable notice and grace periods, herein or under the terms of the Security Instrument or any of the other Loan Documents (collectively, an “Event of Default”).

DEFAULT AND ACCELERATION. (a) The whole of the principal sum of this Note, together with all interest accrued and unpaid thereon, all Deferred Interest and interest accrued and unpaid thereon, and all other sums due under the Mortgage (b) interest, Default Interest (as defined belowhereinafter defined), late charges and other sums, as provided in this Note, the Security Instrument or the other Loan Documents (defined below), (c) all other monies agreed or provided to be paid by Borrower in this Note, the Security Instrument or the other Loan Documents, (d) all sums advanced pursuant to the provisions of the Security Instrument to protect and preserve the Property (defined belowas hereinafter defined) and the lien and the security interest created thereby, and (e) all reasonable sums advanced and costs and expenses incurred by Lender pursuant to the provisions of this Note, the Security Instrument or the other Loan Documents in connection with the Debt (defined below) or any part thereof, any renewal, extension or change of or substitution for the Debt or any part thereof, or the acquisition or perfection of the security therefor, whether made or incurred at the request of Borrower or Lender Note (all the such sums referred to in (a) through (e) above shall hereinafter collectively be referred to as the “Debt”) shall without notice become immediately due and payable at the option of Lender if (i) any Monthly Payment payment due on the Maturity Date is not paid within five (5) days of the on such date when due, (ii) or if any other portion of the Debt is not paid within five (5) days of the date when due, (iii) the entire Debt payment required in this Note is not paid on or before the Maturity Date date when due, or if any Event of Default (ivas defined in the Mortgage) Borrower commits occurs, or on the happening of any other default, and fails to cure same prior to after the expiration of any applicable notice and grace periods, herein or under the terms of the Security Instrument Mortgage or any of the other Loan Documents (collectively, hereinafter collectively an “Event of Default”), and further provided that the Debt shall automatically become immediately due and payable, without notice or any exercise of any option on the part of Lender, if an Event of Default of the type set forth in Section 22(h) of the Mortgage occurs with respect to Borrower. All of the terms, covenants and conditions contained in the Mortgage and the other Loan Documents are hereby made part of this Note to the same extent and with the same force as if they were fully set forth herein. In the event that it should become necessary to employ counsel to collect the Debt or to protect or foreclose the security hereof, Bxxxxxxx also agrees to pay reasonable attorneys’ fees for the services of such counsel whether or not suit be brought.

DEFAULT AND ACCELERATION. (a) The whole of the principal sum of this Note, together with all interest accrued and unpaid thereon, and all other sums due under the Mortgage (b) interest, Default Interest (as defined belowhereinafter defined), late charges and other sums, as provided in this Note, the Security Instrument or the other Loan Documents (defined below), (c) all other monies agreed or provided to be paid by Borrower in this Note, the Security Instrument or the other Loan Documents, (d) all sums advanced pursuant to the provisions of the Security Instrument to protect and preserve the Property (defined belowhereinafter defined) and the lien and the security interest created thereby, and (e) all reasonable sums advanced and costs and expenses incurred by Lender pursuant to the provisions of this Note, the Security Instrument or the other Loan Documents in connection with the Debt (defined below) or any part thereof, any renewal, extension or change of or substitution for the Debt or any part thereof, or the acquisition or perfection of the security therefor, whether made or incurred at the request of Borrower or Lender Note (all the such sums referred to in (a) through (e) above shall hereinafter collectively be referred to as the “"Debt”") shall without notice become immediately due and payable at the option of Lender Payee if (i) any Monthly Payment payment due on the Maturity Date is not paid within five (5) days of the on such date when due, (ii) or if any other portion of the Debt is not paid within five (5) days of the date when due, (iii) the entire Debt payment required in this Note is not paid on or before the Maturity Date fifth (5th) day after the date when due, or if any Event of Default (ivas defined in the Mortgage) Borrower commits occurs and is continuing, or on the happening of any other defaultdefault and continuance thereof, and fails to cure same prior to after the expiration of any applicable notice and grace periods, herein or under the terms of the Security Instrument Mortgage or other Loan Documents (hereinafter collectively an "Event of Default"), and further provided that the Debt shall automatically become immediately due and payable, without notice or any exercise of any option on the part of Payee, if an Event of Default of the type set forth in Section 22(g) of the Mortgage occurs with respect to Maker. All of the terms, covenants and conditions contained in the Mortgage and the other Loan Documents (collectivelyare hereby made part of this Note to the same extent and with the same force as if they were fully set forth herein. In the event that it should become necessary to employ counsel to collect the Debt or to protect or foreclose the security hereof, an “Event Maker also agrees to pay reasonable attorneys' fees for the services of Default”)such counsel whether or not suit be brought.

DEFAULT AND ACCELERATION. Borrower covenants and agrees that if (a) The any payment required hereunder (other than the payment due on the Maturity Date) is not paid prior to the fifth (5th) day after the same is due, or (b) the entire Debt (defined below) is not paid on or before the Maturity Date or (c) any other Event of Default (as defined in the Security Instrument (defined below)) shall continue to exist after giving effect to all applicable grace periods, then at the option of Lender (i) the whole of the principal sum of this Note, (bii) interest, Default Interest (as defined below)default interest, late charges and other sums, as provided in this Note, the Security Instrument or the other Loan Other Security Documents (as defined belowin the Security Instrument), (ciii) all other monies agreed or provided to be paid by Borrower in this Note, the Security Instrument or the other Loan Other Security Documents, (div) all sums advanced pursuant to the provisions of the Security Instrument to protect and preserve the Property (defined below) and the lien and the security interest created thereby, and (ev) all reasonable sums advanced and costs and expenses incurred by Lender pursuant to the provisions of this Note, the Security Instrument or the other Loan Documents in connection with the Debt (defined below) or any part thereof, any renewal, extension extension, or change of or substitution for the Debt or any part thereof, or the acquisition or perfection of the security therefor, whether made or incurred at the request of Borrower or Lender (all the sums referred to in (ai) through (ev) above shall collectively be referred to as the “Debt”) shall without notice become immediately due and payable at the option of Lender if (i) any Monthly Payment is not paid within five (5) days of the date when due, (ii) any other portion of the Debt is not paid within five (5) days of the date when due, (iii) the entire Debt is not paid on or before the Maturity Date or (iv) Borrower commits any other default, and fails to cure same prior to the expiration of any applicable notice and grace periods, herein or under the terms of the Security Instrument or any of the other Loan Documents (collectively, an “Event of Default”)payable.

DEFAULT AND ACCELERATION. Borrower covenants and agrees that if (a) The any payment required hereunder (other than the payment due on the Maturity Date) is not paid prior to the fifth (5th) day after the same is due, or (b) the entire Debt (defined below) is not paid on or before the Maturity Date or (c) any other Event of Default (as defined in the Security Instrument (defined below)) shall continue to exist after giving effect to all applicable grace periods, then at the option of Lender (i) the whole of the principal sum of this Note, (bii) interest, Default Interest (as defined below)default interest, late charges and other sums, as provided in this Note, the Security Instrument or the other Loan Other Security Documents (as defined belowin the Security Instrument), (ciii) all other monies agreed or provided to be paid by Borrower in this Note, the Security Instrument or the other Loan Other Security Documents, (div) all sums advanced pursuant to the provisions of the Security Instrument to protect and preserve the Property (defined below) and the lien and the security interest created thereby, and (ev) all reasonable sums advanced and costs and expenses incurred by Lender pursuant to the provisions of this Note, the Security Instrument or the other Loan Documents in connection with the Debt (defined below) or any part thereof, any renewal, extension extension, or change of or substitution for the Debt or any part thereof, or the acquisition or perfection of the security therefor, whether made or incurred at the request of Borrower or Lender (all the sums referred to in (ai) through (ev) above shall collectively be referred to as the “Debt”) shall without notice become immediately due and payable at the option of Lender if (i) payable. Whenever any Monthly Payment is not paid within five (5) days of the date when duepayment to be made under this Note, (ii) any other portion of the Debt is not paid within five (5) days of the date when due, (iii) the entire Debt is not paid on or before the Maturity Date or (iv) Borrower commits any other default, and fails to cure same prior to the expiration of any applicable notice and grace periods, herein or under the terms of the Security Instrument or under any of Other Security Document shall be stated to be due on a day which is not a Business Day (hereinafter defined), the other Loan Documents (collectivelydue date thereof shall be the Business Day immediately preceding such day. For purposes hereof, an the term “Event of Default”).

DEFAULT AND ACCELERATION. Time is of the essence hereof and it is expressly agreed that (a) The if Borrower shall fail to make any payment under this Note within five (5) business days after receiving written notice that the same is due, (b) if a default shall occur and be continuing, after the expiration of any applicable notice and grace periods under the terms of that certain Office Lease dated on or about the date hereof by and between Borrower, as Tenant, and Lender, as Landlord, as the same may be amended from time to time (the "LEASE"), (each, an "EVENT OF DEFAULT") or (c) upon the expiration or sooner termination of the Lease, at the option of Lender (i) the whole of the principal sum of this Note, (bii) interest, Default Interest (as defined below)default interest, late charges charges, and other sums, as provided in this Note, the Security Instrument or the other Loan Documents (defined below), (ciii) all other monies agreed to be paid or provided to be paid by Borrower in this Note, the Security Instrument or the other Loan Documents, and (div) all sums advanced pursuant to the provisions of the Security Instrument to protect and preserve the Property (defined below) and the lien and the security interest created thereby, and (e) all reasonable sums advanced and costs and expenses incurred by Lender pursuant to the provisions of this Note, the Security Instrument or the other Loan Documents in connection with the Debt (defined below) ), or any part thereof, any renewal, extension extension, or change of or substitution for the Debt or any part thereof, or the acquisition or perfection of the security therefor, whether made or incurred at the request of Borrower or Lender (all the sums referred to in (ai) through (eiv) above shall collectively be referred to as the “Debt”"DEBT") shall without notice become immediately due and payable and Lender shall have the right, in addition to all other remedies available to it at law or in equity, to draw upon the option Note Letter of Lender if (i) any Monthly Payment is not paid within five (5) days Credit pursuant to the terms thereof for the full amount of the date when due, (ii) any other portion of the Debt is not paid within five (5) days of the date when due, (iii) the entire Debt is not paid on or before the Maturity Date or (iv) Borrower commits any other default, and fails to cure same prior to the expiration of any applicable notice and grace periods, herein or under the terms of the Security Instrument or any of the other Loan Documents (collectively, an “Event of Default”)Debt.

DEFAULT AND ACCELERATION. Borrower covenants and agrees that if (a) The any payment required hereunder (other than the payment due on the Maturity Date) is not paid prior to the fifth (5th) day after the same is due, or (b) the entire Debt (defined below) is not paid on or before the Maturity Date or (c) any other Event of Default (as defined in the Security Instrument (defined below)) shall occur, then at the option of Lender (i) the whole of the principal sum of this Note, (bii) interest, Default Interest (as defined below)default interest, late charges and other sums, as provided in this Note, the Security Instrument or the other Loan Other Security Documents (as defined belowin the Security Instrument), (ciii) all other monies agreed or provided to be paid by Borrower in this Note, the Security Instrument or the other Loan Other Security Documents, (div) all sums advanced pursuant to the provisions of the Security Instrument to protect and preserve the Property (defined below) and the lien and the security interest created thereby, and (ev) all reasonable sums advanced and costs and expenses incurred by Lender pursuant to the provisions of this Note, the Security Instrument or the other Loan Documents in connection with the Debt (defined below) or any part thereof, any renewal, extension extension, or change of or substitution for the Debt or any part thereof, or the acquisition or perfection of the security therefor, whether made or incurred at the request of Borrower or Lender (all the sums referred to in (ai) through (ev) above shall collectively be referred to as the “"Debt”") shall without notice become immediately due and payable at the option of Lender if (i) any Monthly Payment is not paid within five (5) days of the date when due, (ii) any other portion of the Debt is not paid within five (5) days of the date when due, (iii) the entire Debt is not paid on or before the Maturity Date or (iv) Borrower commits any other default, and fails to cure same prior to the expiration of any applicable notice and grace periods, herein or under the terms of the Security Instrument or any of the other Loan Documents (collectively, an “Event of Default”)payable.

DEFAULT AND ACCELERATION. Borrower covenants and agrees that if (a) The any payment required hereunder (other than the payment due on the Maturity Date) is not paid prior to the fifth (5th) day after the same is due, or (b) the entire Debt (defined below) is not paid on or before the Maturity Date or (c) any other Event of Default (as defined in the Security Instrument (defined below)) shall continue to exist after giving effect to all applicable grace periods, then at the option of Lender (i) the whole of the principal sum of this Note, (bii) interest, Default Interest (as defined below)default interest, late charges and other sums, as provided in this Note, the Security Instrument or the other Loan Other Security Documents (as defined belowin the Security Instrument), (ciii) all other monies agreed or provided to be paid by Borrower in this Note, the Security Instrument or the other Loan Other Security Documents, (div) all sums advanced pursuant to the provisions of the Security Instrument to protect and preserve the Property (defined below) and the lien and the security interest created thereby, and (ev) all reasonable sums advanced and costs and expenses incurred by Lender pursuant to the provisions of this Note, the Security Instrument or the other Loan Documents in connection with the Debt (defined below) or any part thereof, any renewal, extension extension, or change of or substitution for the Debt or any part thereof, or the acquisition or perfection of the security therefor, whether made or incurred at the request of Borrower or Lender (all the sums referred to in (ai) through (ev) above shall collectively be referred to as the “Debt”) shall without notice become immediately due and payable at the option of Lender if (i) payable. Whenever any Monthly Payment is not paid within five (5) days of the date when duepayment to be made under this Note, (ii) any other portion of the Debt is not paid within five (5) days of the date when due, (iii) the entire Debt is not paid on or before the Maturity Date or (iv) Borrower commits any other default, and fails to cure same prior to the expiration of any applicable notice and grace periods, herein or under the terms of the Security Instrument or under any of the other Loan Documents (collectively, an “Event of Default”).Other Security Document shall be stated to be due on a day