Common use of EFFECT OF AN EVENT OF DEFAULT Clause in Contracts

EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at Lender's option, all Indebtedness immediately will become due and payable, only after Borrower has exhausted all remedies under its Right to Cure section as referenced above, except that in the case of an Event of Default of the type described in the "Insolvency" subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect Lender's right to declare a default and to exercise its rights and remedies.

EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at Lender's option, all Indebtedness immediately sums owing in connection with the Loans, including all principal, interest, and all other fees, costs and charges, if any, will become immediately due and payable, only after Borrower has exhausted all remedies under its Right without notice of any kind to Cure section as referenced aboveBorrower, except that in the case of an Event of Default of the type described in the "Insolvency" subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect Lender's right to declare a default and to exercise its rights and remedies.

EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occurhave occurred, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at Lender's ’s option, all Indebtedness immediately will become due and payable, only after Borrower has exhausted all remedies under its Right without notice of any kind to Cure section Borrowers other than as referenced aboveprovided for in this Agreement, except that in the case of an Event of Default of the type described in the "“Insolvency" ” subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender's ’s rights and remedies shall be cumulative and may be exercised singularly singularity or concurrently. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower any of Borrowers or of any Grantor shall not affect Lender's ’s right to declare a default an Event of Default and to exercise its rights and remedies.

EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at Lender's option, all Indebtedness immediately sums owing in connection with the Loans, including all principal, interest, and all other fees, costs and charges. if any, will become immediately due and payable, only after Borrower has exhausted all remedies under its Right without notice of any kind to Cure section as referenced aboveBorrower, except that in the case of an Event of Default of the type described in the "Insolvency" subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect Lender's right to declare a default and to exercise its rights and remedies.

EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at Lender's ’s option, all Indebtedness immediately will become due and payable, only after all without notice of any kind to Borrower has exhausted all remedies under its Right to Cure section as referenced aboveor Guarantors, except that in the case of an Event of Default of the type described in the "“Insolvency" ” subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender's ’s rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor Guarantor shall not affect Lender's ’s right to declare a default and to exercise its rights and remedies.

EFFECT OF AN EVENT OF DEFAULT. If Subject to the CARES Act: if any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at Lender's ’s option, all Indebtedness immediately will become due and payable, only after Borrower has exhausted all remedies under its Right without notice of any kind to Cure section as referenced aboveBorrower, except that in the case of an Event of Default of the type described in the "“Insolvency" ” subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender's ’s rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender Lxxxxx to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect Lender's Lxxxxx’s right to declare a default and to exercise its rights and remedies.

EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occuroccur and shall remain uncured, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at Lender's option, all Indebtedness immediately will become due and payable, only after Borrower has exhausted all remedies under its Right without notice of any kind to Cure section as referenced aboveBorrower, except that in the case of an Event of Default of the type described in the "Insolvency" subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect Lender's right to declare a default and to exercise its rights and remedies.

EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at Lender's option, all Indebtedness immediately will become due and payable, only after Borrower has exhausted all remedies under its Right without notice of any kind to Cure section as referenced aboveBorrower, except that in the case of an Event of Default of the type described in the "Insolvency" subsection ================================================================================ above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect Lender's right to declare a default and to exercise its rights and remedies.. MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Agreement:

EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (( including any obligation to make further fur ther Loan Advances or disbursements), and, at Lender's ’s option, all Indebtedness immediately will become due and payable, only after all without notice of any kind to Borrower has exhausted all remedies under its Right to Cure section as referenced above, except that in the case of an Event of Default of the type described descr ibed in the "Insolvency" subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender's ’s rights and remedies shall be cumulative and may be exercised singularly singular ly or concurrently. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower Bor rower or of any Grantor shall not affect Lender's ’s right to declare a default and to exercise its rights and remedies.

EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occuroccur and subject to any cure period, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement will be immediately will terminate terminated (including any obligation to make further Loan Advances or disbursements), and, at Lender's ’s option, all Indebtedness immediately will become due and payable, only after Borrower has exhausted all remedies under its Right without prior written notice to Cure section as referenced aboveBorrower, except that in the case of an Event of Default of the type described in the "“Insolvency" ” subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender's ’s rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect Lender's ’s right to declare a default and to exercise its rights and remedies.

EFFECT OF AN EVENT OF DEFAULT. If At any time after the occurrence and continuation of an Event of Default shall occurbeyond any applicable grace or cure period, except where otherwise provided in this Agreement or the Related Loan Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at Lender's ’s option, all Indebtedness immediately will become due and payable, only after Borrower has exhausted all remedies under its Right without notice of any kind to Cure section as referenced aboveBorrower, except that in the case of an Event of Default of the type described in the "“Insolvency" ” subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in this Agreement and the Related Loan Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender's ’s rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect Lender's ’s right to declare a default and to exercise its rights and remedies.

EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any BUSINESS LOAN AGREEMENT (Continued) obligation to make further Loan Advances or disbursements), and, at Lender's Xxxxxx’s option, all Indebtedness immediately will become due and payable, only after Borrower has exhausted all remedies under its Right without notice of any kind to Cure section as referenced aboveBorrower, except that in the case of an Event of Default of the type described in the "“Insolvency" ” subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender's ’s rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender Xxxxxx to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect Lender's Xxxxxx’s right to declare a default and to exercise its rights and remedies.

EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at Lender's option, all Indebtedness immediately will become due and payable, only after Borrower has exhausted all remedies under its Right without notice of any kind to Cure section as referenced aboveBorrower, except that in the case of an Event of Default of the type described in the "Insolvency" subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be BUSINESS LOAN AGREEMENT prohibited by applicable law, all of Lender's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect Lender's right to declare a default and to exercise its rights and remedies.

EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related BUSINESS LOAN AGREEMENT Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at Lender's option, all Indebtedness immediately will become due and payable, only after Borrower has exhausted all remedies under its Right without notice of any kind to Cure section as referenced aboveBorrower, except that in the case of an Event of Default of the type described in the "Insolvency" subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender Lxxxxx to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect LenderLxxxxx's right to declare a default and to exercise its rights and remedies.

EFFECT OF AN EVENT OF DEFAULT. If At any time after the occurrence and continuation of an Event of Default shall occurbeyond any applicable grace or cure period, except where otherwise provided in this Agreement or the Related Loan Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at Lender's ’s option, all Indebtedness immediately will become due and payable, only after Borrower has exhausted all remedies under its Right without notice of any kind to Cure section as referenced aboveBorrower, except that in the case of an Event of Default of the type described in the "“Insolvency" ” subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in this Agreement and the Related Loan Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender's ’s rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect Lender's ’s right to declare a default and to exercise its rights and remedies.

EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at Lender's option, all Indebtedness immediately sums owing in connection with the Loans, including all principal, interest, and all other fees, costs and charges, if any, will become immediately due and payable, only after Borrower has exhausted all remedies under its Right without notice of any kind to Cure section as referenced aboveBorrower, except that in the case of an Event of Default of the type described in the "Insolvency" subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect Lenderlender's right to declare a default and to exercise its rights and remedies.

EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at Lender's ’s option, all Indebtedness immediately will become due and BUSINESS LOAN AGREEMENT payable, only after Borrower has exhausted all remedies under its Right without notice of any kind to Cure section as referenced aboveBorrower, except that in the case of an Event of Default of the type described in the "“Insolvency" ” subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender's ’s rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect Lender's ’s right to declare a default and to exercise its rights and remedies.

EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at Lender's option, all Indebtedness immediately will become due and payable, only after Borrower has exhausted all remedies under its Right without notice of any kind to Cure section as referenced aboveBorrower, except that in the case of an Event of Default of the type described in the "Insolvency" subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be BUSINESS LOAN AGREEMENT prohibited by applicable law, all of Lender's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender Xxxxxx to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect LenderXxxxxx's right to declare a default and to exercise its rights and remedies.

EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at LenderXxxxxx's option, all Indebtedness immediately will become due and payable, only after Borrower has exhausted all remedies under its Right without notice of any kind to Cure section as referenced aboveBorrower, except that in the case of an Event of Default of the type described in the BUSINESS LOAN AGREEMENT "Insolvency" subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender Xxxxxx to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect LenderXxxxxx's right to declare a default and to exercise its rights and remedies.

EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or Notes or the Related Documents, all commitments and obligations of Lender Lenders under this Agreement or Notes or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at Lender's Lenders’ option, all Indebtedness immediately will become due and payable, only after Borrower has exhausted all remedies under its Right without notice of any kind to Cure section as referenced aboveBorrower, except that in the case of an Event of Default of the type described in the "“Insolvency" ” subsection above, such acceleration shall be automatic and not optional. In addition, Lender Lenders shall each have all the rights and remedies provided in the this Agreement, Notes and Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable lawlaws, all of each Lender's ’s rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lenders or a Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect each Lender's ’s right to declare a default and to exercise its rights and remedies. Termination of this Agreement or Related Documents shall not terminate any Notes or the obligation of the Borrower to repay all Indebtedness owed to a Lender or to the Lenders.

EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this the Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances advances or disbursements), ) and, at Lender's ’s option, all Indebtedness immediately the Loan will become immediately due and payable, only after Borrower has exhausted all remedies under its Right without notice of any kind to Cure section as referenced aboveany Obligor, except that in the case of an any “insolvency” Event of Default of the type described in the "Insolvency" subsection aboveDefault, such acceleration shall be automatic and not optional. In additionaddition to the acceleration provisions set forth above, upon the occurrence and continuation of an Event of Default, Lender shall have may exercise any and all the rights rights, options and remedies provided for in the Related Documents Agreement or available any related document, under the Uniform Commercial Code, any other applicable foreign or domestic laws or otherwise at law, law or in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender's ’s rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor Obligor shall not affect Lender's ’s right to declare a default and to exercise its rights and remedies.

EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at Lender's option, all Indebtedness immediately sums owing in connection with the Loans, including all principal, interest, and all other fees, costs and charges, if any, will become immediately due and payable, only after Borrower has exhausted all remedies under its Right without notice of any kind to Cure section as referenced aboveBorrower, except that in the case of an Event of Default of the type described in the "Insolvency" subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect Lender's right to declare a default and to exercise its rights and remedies.. MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Agreement: