Common use of DEFAULT PROVISION Clause in Contracts

DEFAULT PROVISION. If BORROWER shall fail to pay when due any amount on any of the loans hereunder, or on any other indebtedness of BORROWER secured hereby, or shall fail to observe or perform any of the provisions or representations of this agreement, or of any notes, security agreements, or mortgages entered into in connection with this loan agreement, or upon commencement of any bankruptcy or insolvency proceedings involving BORROWER, or should AGCAPCO in good ▇▇▇▇▇ ▇▇▇▇ itself insecure, BORROWER shall be in default hereunder. When BORROWER are in default, interest shall continue at the normal rate and AGCAPCO may declare by written notice to BORROWER that all such loans and other indebtedness are immediately due AUGUST 26, 1996 3 LOAN AGREEMENT and payable, and AGCAPCO may terminate its commitments and any reinstatement rights hereunder, proceed to enforce payment under any guarantees and to exercise any or all of the rights afforded to AGCAPCO by law or agreement. Upon demand, BORROWER shall pay to AGCAPCO all attorney's fees and costs incurred by AGCAPCO in protecting or enforcing its rights under this agreement or collateral securing this loan, including reasonable attorney's fees incurred by AGCAPCO in a bankruptcy or receivership proceeding or in enforcing any judgment against BORROWER.

DEFAULT PROVISION. If BORROWER the Borrower shall fail to pay when due any amount on any of the loans hereunderLoans under this loan agreement, or on any other indebtedness of BORROWER the Borrower secured hereby, or shall fail to observe or perform any of the provisions or representations of this loan agreement, or of any notes, security agreementsagreement or mortgage, or mortgages entered into in connection with this loan agreementshall be subject to the jurisdiction of a bankruptcy court whether by a voluntary filing or involuntary action, or upon commencement of any bankruptcy or insolvency proceedings involving BORROWER, or should AGCAPCO in good ▇▇▇▇▇ ▇▇▇▇ itself insecure, BORROWER shall be in default hereunderof the Note Purchase Agreement dated as of July 15, 1998, or any of the documents evidencing such Note Purchase Agreement or securing the obligation thereunder, the Borrower shall be in default. When BORROWER are the Borrower is in default, interest shall continue at the normal rate and AGCAPCO Bank may declare by written notice to BORROWER the Borrower that all such loans the Loans and other indebtedness are immediately due AUGUST 26, 1996 3 LOAN AGREEMENT and payable, and AGCAPCO . The Bank may then terminate its commitments commitment to lend and cancel any reinstatement rights hereunderprovided to the Borrower under this loan agreement, and proceed to enforce payment under any guarantees and to exercise any or all of the rights afforded to AGCAPCO the Bank by law or agreement. Upon demand, BORROWER and as permitted by law, the Borrower shall pay to AGCAPCO reimburse the Bank for all attorney's attorneys' fees and costs incurred by AGCAPCO the Bank in protecting or enforcing its rights under this agreement or collateral securing this loancollateral, including reasonable attorney's attorneys' fees incurred by AGCAPCO the Bank in a bankruptcy or receivership proceeding or in enforcing any judgment against BORROWERthe Borrower.

DEFAULT PROVISION. If BORROWER the Borrower shall fail to pay when due any amount on any of the loans hereunderLoans under this loan agreement, or on any other indebtedness of BORROWER secured herebythe Borrower to the Bank, or shall fail to observe or perform any of the provisions or representations of this loan agreement, or of any notessecurity agreement, security agreementsmortgage, or mortgages entered into in connection with this loan agreementother security document, or upon commencement shall be subject to the jurisdiction of any a bankruptcy court whether by a voluntary filing or insolvency proceedings involving BORROWERinvoluntary action, or should AGCAPCO in good ▇▇▇▇▇ ▇▇▇▇ itself insecure, BORROWER shall be in default hereunderof the Note Purchase Agreement executed by Borrower dated as of July 15, 1998, or any of the documents evidencing such Note Purchase Agreement or securing the obligation thereunder, the Borrower shall be in default. When BORROWER are the Borrower is in default, interest shall continue at the normal rate and AGCAPCO Bank may declare by written notice to BORROWER the Borrower that all such loans the Loans and other indebtedness are immediately due AUGUST 26, 1996 3 LOAN AGREEMENT and payable, and AGCAPCO . The Bank may then terminate its commitments commitment to lend and cancel any reinstatement rights hereunderprovided to the Borrower under this loan agreement, and proceed to enforce payment under any guarantees and to exercise any or all of the rights afforded to AGCAPCO the Bank by law or agreement. Upon demand, BORROWER and as permitted by law, the Borrower shall pay to AGCAPCO reimburse the Bank for all attorney's attorneys' fees and costs incurred by AGCAPCO the Bank in protecting or enforcing its rights under this agreement or collateral securing this loancollateral, including reasonable attorney's attorneys' fees incurred by AGCAPCO the Bank in a bankruptcy or receivership proceeding or in enforcing any judgment against BORROWERthe Borrower.

DEFAULT PROVISION. If BORROWER the Borrower shall fail to pay when due any amount on any of the loans hereunderLoans under this loan agreement, or on any other indebtedness of BORROWER secured herebythe Borrower to the Bank, or shall fail to observe or perform any of the provisions or representations of this loan agreement, or of any notessecurity agreement, security agreementsmortgage, or mortgages entered into in connection with this loan agreementother security document, or upon commencement shall be subject to the jurisdiction of any a bankruptcy court whether by a voluntary filing or insolvency proceedings involving BORROWERinvoluntary action, or should AGCAPCO in good ▇▇▇▇▇ ▇▇▇▇ itself insecure, BORROWER shall be in default hereunderof the Note Purchase Agreement executed by Borrower dated as of July 15, 1998, or any of the documents evidencing such Note Purchase Agreement or securing the obligation thereunder, the Borrower shall be in default. When BORROWER are the Borrower is in default, interest shall continue at the normal rate and AGCAPCO Bank may declare by written notice to BORROWER the Borrower that all such loans the Loans and other indebtedness are immediately due AUGUST 26, 1996 3 LOAN AGREEMENT and payable, and AGCAPCO . The Bank may then terminate its commitments commitment to lend and cancel any reinstatement rights hereunderprovided to the Borrower under this loan agreement, and proceed to enforce payment under any guarantees and to exercise any or all of the rights afforded to AGCAPCO the Bank by law or agreement. Upon demand, BORROWER and as permitted by law, the Borrower shall pay to AGCAPCO reimburse the Bank for all attorney's attorneys’ fees and costs incurred by AGCAPCO the Bank in protecting or enforcing its rights under this agreement or collateral securing this loancollateral, including reasonable attorney's attorneys’ fees incurred by AGCAPCO the Bank in a bankruptcy or receivership proceeding or in enforcing any judgment against BORROWERthe Borrower.