Common use of Default by Client Clause in Contracts

Default by Client. Notwithstanding any provision in this Agreement to the contrary, Bank may at any time refuse (i) to create or increase a Balance Deficiency; (ii) to make any further Line of Credit Sweeps hereunder; or (iii) to honor any Item if Client shall at such time be in default in the performance of any of Client's obligations and agreements set forth in this Agreement and/or the Note. The Line of Credit and all other Loans shall be evidenced by the Note and the Line of Credit Sweep shall be treated for all purposes (including, without limitation, terms of repayment and applicable interest rate) as advances under the Note.