Common use of Demand Facility Clause in Contracts

Demand Facility. The Bank may modify, restrict, suspend or terminate the credit under this Note at any time for any reason and without affecting Borrower's then existing obligation under this Note. The Bank shall have the sole and absolute discretion whether to make any Loan or any potion of any Loan requested by Borrower, and the Bank may refuse to make any requested Loan even though the sum of the requested Loan and the Outstanding Principal Amount would not exceed the Maximum Principal Amount. This is a demand Note and all amounts hereunder shall become immediately due and payable upon demand by the Bank; provided, however, that the Outstanding Principal Amount of this Note and all accrued and unpaid interest shall automatically become immediately due and payable upon the occurrence of a Bankruptcy Event with regard to Borrower or any guarantor or endorser of this Note. Borrower hereby waives protest, presentment and notice of any kind in connection with this Note.

Demand Facility. The Bank may modify, restrict, suspend or terminate the credit under this Note at any time for any reason and without affecting Borrower's then existing obligation under this Note. The Bank shall have the sole and absolute discretion whether to make any Loan or any potion portion of any Loan requested by Borrower, and the Bank may refuse to make any requested Loan even though the sum of the requested Loan and the Outstanding Principal Amount would not exceed the Maximum Principal Amount. This is a demand Note and all amounts hereunder shall become immediately due and payable upon demand by the Bank; provided, however, that the Outstanding Principal Amount of this Note and all accrued and unpaid interest shall automatically become immediately due and payable upon the occurrence of a Bankruptcy Event with regard to Borrower or any guarantor or endorser of this Note. Borrower hereby waives protest, presentment and notice of any kind in connection with this Note.