Loan Defaults. The Borrower hereby acknowledges for the express benefit of the Guarantor that the breach of its obligations hereunder or under the General Agency Agreement or any material misrepresentation hereunder may give rise to an Event of Default under the Loan Agreement subject to the terms thereof, whereupon the Guarantor may cause the acceleration of the Loan and exercise all rights and remedies available to it by Law, hereunder or as subrogee of the LENDERS under the Loan Agreement.
Appears in 2 contracts
Sources: Indemnity Agreement (Brasil Telecom Holding Co), Indemnity Agreement (Brasil Telecom Sa)