Common use of Acceleration of Obligations Clause in Contracts

Acceleration of Obligations. Upon the occurrence of any of the events identified in paragraph 12(a) through 12(e) and 12(g), any the passage of any applicable cure periods, the Bank may at any time thereafter, by written notice to the Borrower, declare the unpaid principal balance of any Obligations, together with the interest accrued thereon and other amounts accrued hereunder and under the other Loan Documents, to be immediately due and payable; and the unpaid balance shall thereupon be due and payable, all without presentation, demand, protest or further notice of any kind, all of which are hereby waived, and notwithstanding anything to the contrary contained herein or in any of the other Loan Documents. Upon the occurrence of any event under paragraph 12(f), the principal unpaid balance of any Obligations, together with all interest accrued thereon and other amounts accrued hereunder and under the other Loan Documents, shall thereupon be immediately due and payable, all without presentation, demand, protest or notice of any kind, all of which are hereby waived, and notwithstanding anything to the contrary contained herein or in any of the other Loan Documents. Nothing contained in paragraph 12 or 13 or this paragraph shall limit the Bank's right to Setoff as provided in this Note.

Appears in 1 contract

Samples: Arkona Inc

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Acceleration of Obligations. Upon the occurrence of any of the events identified in paragraph 12(aSections 4.1 (a) through 12(e4.1 (e) and 12(g4.1 (g), any and the passage of any applicable cure periods, the Bank may at any time thereafter, ,by written notice to the Borrower, declare the unpaid principal balance of any Obligations, together with the interest accrued thereon and other amounts accrued hereunder and under the other Loan Documents, to be immediately due and payable; and the unpaid balance shall will thereupon be due and payable, all without presentation, demand, protest or further notice of any kind, all of which are hereby waived, and notwithstanding anything to the contrary contained herein or in any of the other Loan Documents. Upon the occurrence of any event under paragraph 12(fSection 4.1(f), the unpaid principal unpaid balance of any Obligations, together with all interest accrued thereon and other amounts accrued hereunder and under the other Loan Documents, shall will thereupon be immediately due and payable, all without presentation, demand, protest or notice of any kind, all of which are hereby waived, and notwithstanding anything to the contrary contained herein or in any of the other Loan Documents. Nothing contained in paragraph 12 or 13 Section 4.1, Section 4.2 or this paragraph shall section will limit the Bank's right to Setoff as provided in Section 3.3 or otherwise in this NoteAgreement.

Appears in 1 contract

Samples: Term Loan Agreement (Park City Group Inc)

Acceleration of Obligations. Upon the occurrence of any of the events identified in paragraph 12(a13(a) through 12(e13(e) and 12(g13(g), any and the passage of any applicable cure periods, the Bank may at any time thereafter, by written notice to the Borrower, declare the unpaid principal balance of any Obligations, together with the interest accrued thereon and other amounts accrued hereunder and under the other Loan Documents, to be immediately due and payable; and the unpaid balance shall thereupon be due and payable, all without presentation, demand, protest or further notice of any kind, all of which are hereby waived, and notwithstanding anything to the contrary contained herein or in any of the other Loan Documents. Upon the occurrence of any event under paragraph 12(f13(f), the unpaid principal unpaid balance of any Obligations, together with all interest accrued thereon and other amounts accrued hereunder and under the other Loan Documents, shall thereupon be immediately due and payable, all without presentation, demand, protest or notice of any kind, all of which are hereby waived, and notwithstanding anything to the contrary contained herein or in any of the other Loan Documents. Nothing contained in paragraph 12 13 or 13 14 or this paragraph shall limit the Bank's right to Setoff as provided in this Note.

Appears in 1 contract

Samples: National Research Corp

Acceleration of Obligations. Upon the occurrence of any of the events identified in paragraph 12(aSections 4.1(a) through 12(e4.l (e) and 12(g), any the passage of any applicable cure periods, the Bank may at any time thereafter, by written notice to the Borrower, declare the unpaid principal balance of any Obligations, together with the interest accrued thereon and other amounts accrued hereunder and under the other Loan Documents, to be immediately due and payable; and the unpaid balance shall will thereupon be due and payable, all without presentation, demand, protest or further notice of any kind, all of which are hereby waived, and notwithstanding anything to the contrary contained herein or in any of the other Loan Documents. Upon the occurrence of any event under paragraph 12(fSection 4.l(f), the unpaid principal unpaid balance of any Obligations, together with all interest accrued thereon and other amounts accrued hereunder and under the other Loan Documents, shall will thereupon be immediately due and payable, all without presentation, demand, protest or notice of any kind, all of which are hereby waived, and notwithstanding anything to the contrary contained herein or in any of the other Loan Documents. Nothing contained in paragraph 12 or 13 Section 4.1, Section 4.2 or this paragraph shall section will limit the Bank's right to Setoff as provided in Section 3.3 or otherwise in this NoteAgreement.

Appears in 1 contract

Samples: Term Loan Agreement (Third Wave Technologies Inc /Wi)

Acceleration of Obligations. Upon the occurrence of any event under Section 4.1(g), the unpaid principal balance of the Obligations, together with all interest accrued thereon and other amounts accrued hereunder and under the other Loan Documents, will thereupon be immediately due and payable, all without presentation, demand, protest or notice of any kind, all of which are hereby waived, and notwithstanding anything to the contrary contained herein or in any of the other Loan Documents. Upon the occurrence of any of the events identified in paragraph 12(aSections 4.1(a) through 12(e4.1(f) and 12(gparagraph 4.1(h), any and the passage of any applicable cure periods, the Bank may at any time thereafter, by written notice to the BorrowerBxxxxxxx, declare the unpaid principal balance of any Obligations, together with the interest accrued thereon and other amounts accrued hereunder and under the other Loan Documents, to be immediately due and payable; and the unpaid balance shall will thereupon be due and payable, all without presentation, demand, protest or further notice of any kind, all of which are hereby waived, and notwithstanding anything to the contrary contained herein or in any of the other Loan Documents. Upon the occurrence of any event under paragraph 12(f), the principal unpaid balance of any Obligations, together with all interest accrued thereon and other amounts accrued hereunder and under the other Loan Documents, shall thereupon be immediately due and payable, all without presentation, demand, protest or notice of any kind, all of which are hereby waived, and notwithstanding anything to the contrary contained herein or in any of the other Loan Documents. Nothing contained in paragraph 12 or 13 Section 4.1, Section 4.2 or this paragraph shall section will limit the Bank's right to Setoff as provided in Section 3.3 or otherwise in this NoteAgreement.

Appears in 1 contract

Samples: Revolving Credit Agreement (Park City Group Inc)

Acceleration of Obligations. Upon the occurrence of any of the events identified in paragraph 12(aSections 4.1(a) through 12(e4.1(e) and 12(g4.1(g), any and the passage of any applicable cure periods, the Bank may at any time thereafter, by written notice to the Borrower, declare the unpaid principal balance of any Obligations, together with the interest accrued thereon and other amounts accrued hereunder and under the other Loan Documents, to be immediately due and payable; and the unpaid balance shall will thereupon be due and payable, all without presentation, demand, protest or further notice of any kind, all of which are hereby waived, and notwithstanding anything to the contrary contained herein or in any of the other Loan Documents. Upon the occurrence of any event under paragraph 12(fSection 4.1(f), the unpaid principal unpaid balance of any Obligations, together with all interest accrued thereon and other amounts accrued hereunder and under the other Loan Documents, shall will thereupon be immediately due and payable, all without presentation, demand, protest or notice of any kind, all of which are hereby waived, and notwithstanding anything to the contrary contained herein or in any of the other Loan Documents. Nothing contained in paragraph 12 or 13 Section 4.1, Section 4.2 or this paragraph shall section will limit the Bank's Bank s right to Setoff set off as provided in Section 3.3 or otherwise in this NoteAgreement.

Appears in 1 contract

Samples: Term Note (Oakridge Holdings Inc)

Acceleration of Obligations. Upon the occurrence of any of the events identified in paragraph 12(aSections 4.1(a) through 12(e4.1(e) and 12(g4.1(g), any and the passage of any applicable cure periods, the Bank may at any time thereafter, by written notice to the Borrower, declare the unpaid principal balance of any Obligations, together with the interest accrued thereon and other amounts accrued hereunder and under the other Loan Documents, to be immediately due and payable; and the unpaid balance shall will thereupon be due and payable, all without presentation, demand, protest or further notice of any kind, all of which are hereby waived, and notwithstanding anything to the contrary contained herein or in any of the other Loan Documents. Upon the occurrence of any event under paragraph 12(fSection 4.1(f), the unpaid principal unpaid balance of any Obligations, together with all interest accrued thereon and other amounts accrued hereunder and under the other Loan Documents, shall will thereupon be immediately due and payable, all without presentation, demand, protest or notice of any kind, all of which are hereby waived, and notwithstanding anything to the contrary contained herein or in any of the other Loan Documents. Nothing contained in paragraph 12 or 13 Section 4.1, Section 4.2 or this paragraph shall section will limit the Bank's ’s right to Setoff as provided in Section 3.3 or otherwise in this NoteAgreement.

Appears in 1 contract

Samples: Term Loan Agreement (Outdoor Channel Holdings Inc)

Acceleration of Obligations. Upon the occurrence of any of the events identified in paragraph 12(aparagraphs 6.1(a) through 12(e6.1(e) and 12(g6.1(g) and 6.1(h), any and the passage of any applicable cure periods, the Bank may at any time thereafter, (i) by written notice to the Borrower, declare the unpaid principal balance of any Obligations, together with the interest accrued thereon and other amounts accrued hereunder and under the other Loan Documents, to be immediately due and payable; and the unpaid balance shall will thereupon be due and payable, all without presentation, demand, protest or further notice of any kind, all of which are hereby waived, and notwithstanding anything to the contrary contained herein or in any of the other Loan Documents; and (ii) require the Borrower to cause each Subsidiary Bank to appoint an independent transfer agent for the purpose of registering and transferring ownership of the capital stock of such Subsidiary Bank. Upon the occurrence of any event under paragraph 12(f6.1(f), the unpaid principal unpaid balance of any Obligations, together with all interest accrued thereon and other amounts accrued hereunder and under the other Loan Documents, shall will thereupon be immediately due and payable, all without presentation, demand, protest or notice of any kind, all of which are hereby waived, and notwithstanding anything to the contrary contained herein or in any of the other Loan Documents. Nothing contained in paragraph 12 or 13 6.1, paragraph 6.2 or this paragraph shall section will limit the Bank's ’s right to Setoff as provided in paragraph 5.2 or otherwise in this NoteAgreement.

Appears in 1 contract

Samples: Revolving Credit Agreement (Team Financial Inc /Ks)

Acceleration of Obligations. Upon the occurrence of any of the --------------------------- events identified in paragraph 12(aparagraphs 6.1(a) through 12(e6.1(d) and 12(g6.1(f), any and the passage of any applicable cure periods, the Bank may at any time thereafter, by written notice to the Borrower, declare the unpaid principal balance of any Obligations, together with the interest accrued thereon and other amounts accrued hereunder and under the other Loan Documents, to be immediately due and payable; and the unpaid balance shall will thereupon be due and payable, all without presentation, demand, protest or further notice of any kind, all of which are hereby waived, and notwithstanding anything to the contrary contained herein or in any of the other Loan Documents. Upon the occurrence of any event under paragraph 12(f6.1(e), the unpaid principal unpaid balance of any Obligations, together with all interest accrued thereon and other amounts accrued hereunder and under the other Loan Documents, shall will thereupon be immediately due and payable, all without presentation, demand, protest or notice of any kind, all of which are hereby waived, and notwithstanding anything to the contrary contained herein or in any of the other Loan Documents. Nothing contained in paragraph 12 or 13 6.1, paragraph 6.2 or this paragraph shall section will limit the Bank's right to Setoff set off as provided in paragraph 5.1 or otherwise in this NoteAgreement.

Appears in 1 contract

Samples: Term Loan Agreement (Greater Bay Bancorp)

Acceleration of Obligations. Upon the occurrence of any of the events identified in paragraph 12(aSections 4.1 (a) through 12(e4.1(e) and 12(g4.1(g), any and the passage of any applicable cure periods, the Bank may at any time thereafter, by written notice to the Borrower, declare the unpaid principal balance of any Obligations, together with the interest accrued thereon and other amounts accrued hereunder and under the other Loan Documents, to be immediately due and payable; and the unpaid balance shall will thereupon be due and payable, all without presentation, demand, protest or further notice of any kind, all of which are hereby waived, and notwithstanding anything to the contrary contained herein or in any of the other Loan Documents. Upon the occurrence of any event under paragraph 12(fSection 4.1(f), the unpaid principal unpaid balance of any Obligations, together with all interest Interest accrued thereon and other amounts accrued hereunder and under the other Loan Documents, shall will thereupon be immediately due and payable, all without presentation, demand, protest or notice of any kind, all of which are hereby waived, and notwithstanding anything to the contrary contained herein or in any of the other Loan Documents. Nothing contained in paragraph 12 or 13 Section 4.1, Section 4.2 or this paragraph shall section will limit the Bank's ’s right to Setoff as provided in Section 3.3 or otherwise in this NoteAgreement.

Appears in 1 contract

Samples: Term Loan Agreement (Rochester Medical Corporation)

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Acceleration of Obligations. Upon the occurrence of any of the events identified in paragraph 12(a13(a) through 12(e13(e) and 12(g13(g), any and the passage of any applicable cure periods, the Bank may at any time thereafter, by written notice to the Borrower, declare the unpaid principal balance of any Obligations, together with the interest accrued thereon and other amounts accrued hereunder and under the other Loan Documents, to be immediately due and payable; and the unpaid balance shall thereupon be due and payable, all without presentation, demand, protest or further notice of any kind, all of which are hereby waived, and notwithstanding anything to the contrary contained herein or in any of the other Loan Documents. Upon the occurrence of any event under paragraph 12(f13(f), the unpaid principal unpaid balance of any Obligations, together with all interest accrued thereon and other amounts accrued hereunder and under the other Loan Documents, shall thereupon be immediately due and payable, all without presentation, demand, protest or notice of any kind, all of which are hereby waived, and notwithstanding anything to the contrary contained herein or in any of the other Loan Documents. Nothing contained in paragraph 12 13 or 13 14 or this paragraph shall limit the Bank's ’s right to Setoff as provided in this Note.

Appears in 1 contract

Samples: National Research Corp

Acceleration of Obligations. Upon the occurrence of any of the events identified in paragraph 12(aSections 9.01(a) through 12(e9.01(e) and 12(g9.01(g), any and the passage of any applicable cure periods, the Bank Lender may at any time thereafter, by written notice to the Borrower, declare the unpaid principal balance of any Obligations, together with the interest accrued thereon and other amounts accrued hereunder and under the other Loan Documents, to be immediately due and payable; and the unpaid balance shall will thereupon be due and payable, all without presentation, demand, protest or further notice of any kind, all of which are hereby waived, and notwithstanding anything to the contrary contained herein or in any of the other Loan Documents. Upon the occurrence of any event under paragraph 12(fSection 9.1(f), the unpaid principal unpaid balance of any Obligations, together with all interest accrued thereon and other amounts accrued hereunder and under the other Loan Documents, shall will thereupon be immediately due and payable, all without presentation, demand, protest or notice of any kind, all of which are hereby waived, and notwithstanding anything to the contrary contained herein or in any of the other Loan Documents. Nothing contained in paragraph 12 or 13 Section 9.01, Section 4.2 or this paragraph shall section will limit the Bank's Lender’s right to Setoff as provided in Section 5.02 or otherwise in this NoteAgreement.

Appears in 1 contract

Samples: Credit Agreement (New Age Beverages Corp)

Acceleration of Obligations. Upon the occurrence of any of the events identified in paragraph 12(aSections 4.1 (a) through 12(e4.1 (e) and 12(g4.1(g), any and the passage of any applicable cure periods, the Bank may at any time thereafter, by written notice to the Borrower, declare the unpaid principal balance of any Obligations, together with the interest accrued thereon and other amounts accrued hereunder and under the other Loan Documents, to be immediately due and payable; and the unpaid balance shall will thereupon be due and payable, all without presentation, demand, protest or further notice of any kind, all of which are hereby waived, and notwithstanding anything to the contrary contained herein or in any of the other Loan Documents. Upon the occurrence of any event under paragraph 12(fSection 4.1(f), the unpaid principal unpaid balance of any Obligations, together with all interest accrued thereon and other amounts accrued hereunder and under the other Loan Documents, shall will thereupon be immediately due and payable, all without presentation, demand, protest or notice of any kind, all of which are hereby waived, and notwithstanding anything to the contrary contained herein or in any of the other Loan Documents. Nothing contained in paragraph 12 or 13 Section 4.1, Section 4.2 or this paragraph shall section will limit the Bank's ’s right to Setoff as provided in Section 3.3 or otherwise in this NoteAgreement.

Appears in 1 contract

Samples: Term Loan Agreement (Winland Electronics Inc)

Acceleration of Obligations. Upon the occurrence of any event under Section 5.1(g), the unpaid principal balance of the Obligations, together with all interest accrued thereon and other amounts accrued hereunder and under the other Loan Documents, will thereupon be immediately due and payable, all without presentation, demand, protest or notice of any kind, all of which are hereby waived, and notwithstanding anything to the contrary contained herein or in any of the other Loan Documents. Upon the occurrence of any of the events identified in paragraph 12(aSections 5.1(a) through 12(e5.1(f) and 12(gparagraph 5.1(h), any and the passage of any applicable cure periods, the Bank may at any time thereafter, by written notice to the Borrower, thereafter declare the unpaid principal balance of any Obligations, together with the interest accrued thereon and other amounts accrued hereunder and under the other Loan Documents, to be immediately due and payable; and the unpaid balance shall will thereupon be due and payable, all without presentation, demand, protest or further notice of any kind, all of which are hereby waived, and notwithstanding anything to the contrary contained herein or in any of the other Loan Documents. Upon the occurrence of any event under paragraph 12(f), the principal unpaid balance of any Obligations, together with all interest accrued thereon and other amounts accrued hereunder and under the other Loan Documents, shall thereupon be immediately due and payable, all without presentation, demand, protest or notice of any kind, all of which are hereby waived, and notwithstanding anything to the contrary contained herein or in any of the other Loan Documents. Nothing contained in paragraph 12 or 13 Section 5.1, Section 5.2 or this paragraph shall section will limit the Bank's right to Setoff as provided in Section 4.3 or otherwise in the Agreement. Notwithstanding the foregoing, the Bank will use reasonable efforts to give Borrower notice prior to exercising any rights under this NoteSection 5.3, provided, however, in no event shall the Bank’s failure to give prior written notice affect the Bank’s rights hereunder.

Appears in 1 contract

Samples: Revolving Credit Agreement (Sonic Foundry Inc)

Acceleration of Obligations. Upon the occurrence of any of the events identified in paragraph 12(aSections 4.1 (a) through 12(e4.1 (e) and 12(g4.1 (g), any and the passage of any applicable cure periods, the Bank may at any time thereafter, by written notice to the Borrower, declare the unpaid principal balance of any Obligations, together with the interest accrued thereon and other amounts accrued hereunder and under the other Loan Documents, to be immediately due and payable; and the unpaid balance shall will thereupon be due and payable, all without presentation, demand, protest or further notice of any kind, all of which are hereby waived, and notwithstanding anything to the contrary contained herein or in any of the other Loan Documents. Upon the occurrence of any event under paragraph 12(fSection 4.1(f), the unpaid principal unpaid balance of any Obligations, together with all interest accrued thereon and other amounts accrued hereunder and under the other Loan Documents, shall will thereupon be immediately due and payable, all without presentation, demand, protest or notice of any kind, all of which are hereby waived, and notwithstanding anything to the contrary contained herein or in any of the other Loan Documents. Nothing contained in paragraph 12 or 13 Section 4.1, Section 4.2 or this paragraph shall section will limit the Bank's right to Setoff as provided in Section 3.3 or otherwise in this NoteAgreement.

Appears in 1 contract

Samples: Term Loan Agreement (Hi Shear Technology Corp)

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