Common use of EARLY MATURITY Clause in Contracts

EARLY MATURITY. The debtor agrees and accepts that the breach of any of the terms and conditions stipulated in this document, verified by the creditor or supervisory authorities, will entitle the creditor to declare the term matured in advance and demand the total cancellation of the credit through the legal means that correspond, in accordance with the provisions of articles four hundred and twenty of the Commercial Code and seventy of the Organic Law of the National Banking System. The Bank is authorized to declare the obligation matured and execute it in those cases where any circumstance attributable to the debtor occurs, such as but not limited to legal claims, embargoes, and rights of any nature, or due to non-payment of taxes, that delay or prevent the registration of the guarantees constituted in payment of this obligation before the Public Registry.

EARLY MATURITY. The debtor agrees and accepts that the breach of non-compliance with any of the terms and conditions stipulated in this document, verified by the creditor or by supervisory authorities, will entitle the creditor to declare the term matured due in advance and demand the total cancellation of the credit through the legal means that correspond, in accordance with the provisions of articles four hundred and twenty of the Commercial Code and seventy of the Organic Law of the National Banking System. The Bank is authorized to declare the obligation matured due and execute it in those cases where any circumstance circumstances attributable to the debtor occursarise, such as but not limited to legal claimsactions, embargoesattachments, and rights of any nature, or due to the non-payment of taxes, that which delay or prevent the registration of the guarantees constituted in payment of this obligation before the Public Registry.