Lender’s Rights Upon Default. If the Lender declares that the Note and this Mortgage are in default, the Lender will have all rights given by law or set forth in this Mortgage. This includes the right to do any one or more of the following:
Lender’s Rights Upon Default. Upon the occurrence of any Event of Default, Lender may, at its sole and absolute discretion and in addition to any other remedies available to it under this Agreement or otherwise, require Borrower to pay immediately to Lender, for application against drawings under any outstanding Letters of Credit, the outstanding principal amount of any such Letters of Credit which have not expired. Any portion of the amount so paid to Lender which is not applied to satisfy draws under any such Letters of Credit or any other obligations of Borrower to the Lender shall be repaid to Borrower without interest.
Lender’s Rights Upon Default. Upon the occurrence of any Event of Default, the Lender may, at its sole and exclusive option, do any or all of the following, either concurrently or separately: (a) accelerate the maturity of this Note and demand immediate payment in full, whereupon the outstanding principal amount of the Note and all obligations of Borrower to Lender, together with accrued interest thereon, shall become immediately due and payable; and (b) exercise all legally available rights and privileges.
Lender’s Rights Upon Default. Upon the occurrence of any Event of Default, the Lender may, at its sole and exclusive option, do any or all of the following, either concurrently or separately: (a) accelerate the maturity of this Note and demand immediate payment in full, whereupon the outstanding principal amount of the Note and all obligations of Borrower to Lender, together with accrued interest thereon and accrued charges and costs, shall become immediately due and payable without presentment, demand, protest or further notice of any kind, all of which are hereby expressly waived; and (b) exercise all legally available rights and privileges.
Lender’s Rights Upon Default. 1. Upon the happening of any default, as defined in Section 9 hereof, Lender may, at his sole option, pursue any or all of the remedies and exercise any or all rights set forth in this Section 10.
Lender’s Rights Upon Default. Upon the occurrence of an Event of Default which remains uncured, the Loan, together with any accrued and unpaid interest thereon, shall be immediately due and payable without notice or demand, presentment, or protest, all of which are hereby expressly waived. At any time after the occurrence of an Event of Default which remains uncured, Lender may exercise the rights and remedies afforded to it under any of the Loan Documents with respect to the Pledged Collateral and may take, sell or otherwise dispose of any remaining Pledged Collateral then held as the Lender's own property. Borrower agrees that Lender may or may not proceed, as it determines in its sole discretion, with any or all rights, benefits, and remedies which it may have against Borrower and agrees that the Lender may exercise a right of acceleration in the event of the occurrence of an Event of Default which remains uncured.
Lender’s Rights Upon Default. Upon the occurrence of and during the continuation of any Event of Default, Lender shall have all of the rights and remedies provided in the Loan Agreement.
Lender’s Rights Upon Default. In the event of a default by the Borrower under this Agreement, Lender shall be entitled to exercise any and all rights and remedies available to Lender under the Illinois Uniform Commercial Code and all other rights and remedies at law in equity available to secured creditors in the State of Illinois. Borrower further acknowledges that five (5) days' notice of any public or private sale of the Collateral is commercially reasonable under all circumstances.
Lender’s Rights Upon Default. Upon the occurrence of any Event of Default, the Lender may, at its sole and exclusive option, but subject to the provisions of Section 2, (a) accelerate the maturity of this Note and demand immediate payment in full, whereupon the outstanding principal amount of this Note and all obligations of the Borrower to Lender, together with accrued interest thereon and accrued charges and costs, will become immediately due and payable without presentment, demand, protest or further notice of any kind, all of which are hereby expressly waived and (b) exercise all legally available rights and privileges.
Lender’s Rights Upon Default. (a) During the existence of an Event of Default, Lender may: (i) increase the applicable rate of interest to a rate per annum that shall be two percentage points (2%) in excess of the rate otherwise in effect at any time under this Agreement, but not more than the maximum rate allowed by law (the “Default Interest Rate”); (ii) demand payment in full or in part of all principal amounts outstanding hereunder, and accelerate any and all accrued and unpaid Interest due hereunder to be immediately due and payable; and/or (iii) exercise all of its rights under this Agreement, the Promissory Note, and/or the Security Agreement, or at law or in equity, in order to satisfy the indebtedness of Borrower. In the event that Lender elects to apply the Default Interest Rate to any principal balance due hereunder, the Default Interest Rate shall continue to apply whether or not judgment shall be entered on this Agreement.
