Common use of Refinance Clause in Contracts

Refinance. ▇▇▇▇▇▇▇▇ agrees that the entire outstanding amount of the Loan, including all accrued and unpaid interest, if any, will be due and payable if Borrower refinances the Loan. If the Borrower refinances any other mortgage loan or obtains an equity line of credit secured by the Property: (a) the Lender will not subordinate the Mortgage to any such refinanced or equity mortgages, and (b) the Lender may declare the entire outstanding amount of the Loan, including all accrued and unpaid interest, if any, immediately due and payable.

Refinance. ▇▇▇▇▇▇▇▇ agrees that the entire outstanding amount of the Loan, including all accrued and unpaid interest, if any, will be due and payable if Borrower refinances the Loan. If the Borrower refinances any other mortgage loan or obtains an equity line of credit secured by the Property: (a) the Lender will not subordinate the Mortgage to any such refinanced or equity mortgages, and (b) the Lender may declare the entire outstanding amount of the Loan, including all accrued and unpaid interest, if any, immediately due and payable.. SAMPLE