Demand, Protest, Default, Etc Clause Samples
The 'Demand, Protest, Default, Etc' clause outlines the procedures and rights related to making formal demands, issuing protests, and addressing defaults under an agreement. It typically specifies how and when a party must notify the other of a breach, the form such notices should take, and the consequences of failing to respond or cure a default. For example, it may require written notice before a party can claim a default or reserve the right to protest certain actions without waiving other rights. This clause ensures that both parties have a clear process for addressing disputes or breaches, thereby reducing uncertainty and helping to manage risk in the contractual relationship.
Demand, Protest, Default, Etc. Except as otherwise provided herein, Borrower waives demand, protest, notice of protest, notice of default or dishonor, notice of payment and nonpayment, notice of nonpayment at maturity, release, compromise, settlement, extension or renewal of any or all commercial paper, accounts, documents, instruments, chattel paper, and guarantees at any time held by Capital on which Borrower may in any way be liable.
Demand, Protest, Default, Etc. Except as otherwise provided herein, Borrower waives demand, protest, notice of protest, notice of default or dishonor, notice of payment and nonpayment, notice of nonpayment at maturity, release, compromise, settlement, extension or renewal of any or all commercial paper, accounts, documents, instruments, chattel paper, and guarantees at any time held by MCI on which Borrower may in any way be liable.