Demand Payment. Upon the occurrence of an Event of Default and during the continuation thereof, the Secured Party may declare all or part of the Secured Obligations immediately due and payable and enforce payment of the same by Debtor; provided that any partial payments by Debtor of the Secured Obligations shall not be deemed to be a payment in full of such amount, or an accord and satisfaction of such amount, or a waiver by Secured Party of any of its rights or remedies hereunder.
Appears in 3 contracts
Samples: Security Agreement (Gulf United Energy, Inc.), Security Agreement (Gulf United Energy, Inc.), Security Agreement (Gulf United Energy, Inc.)
Demand Payment. Upon the occurrence and during the continuance of an Event of Default and during the continuation thereofDefault, the Secured Party may declare all or part of the Secured Obligations immediately due and payable and enforce payment of the same by Debtor; provided that any partial payments by Debtor of the Secured Obligations shall not be deemed to be a payment in full of such amount, or an accord and satisfaction of such amount, or a waiver by Secured Party of any of its rights or remedies hereunder.
Appears in 2 contracts
Samples: Pledge Agreement (Gulf United Energy, Inc.), Pledge Agreement (Gulf United Energy, Inc.)
