Common use of Cross-Liability Clause in Contracts

Cross-Liability. 7.1 The Borrower expressly accepts that if the Borrower fails to pay any monies when due or which may be declared due prior to the date when it would otherwise have become due or commits any other default under any agreement (including this agreement) with the Bank under which the Borrower is enjoying any financial/credit/other facility; then in such event the Bank shall, without prejudice to any of its specific rights under each of the agreements, be absolutely entitled to exercise all or any of its rights under any of the Borrower’s agreement (including this agreement) with the Bank at the sole discretion of the Bank.

Cross-Liability. 7.1 The Borrower expressly accepts that if the Borrower fails to pay any monies when due or which may be declared due prior to the date when it would otherwise have become due or commits any other default under any agreement (including this agreement) with the Bank under which the Borrower is enjoying any financial/credit/other facility; X9 Y9 then in such event the Bank shall, without prejudice to any of its specific rights under each of the agreements, be absolutely entitled to exercise all or any of its rights under any of the Borrower’s agreement (including this agreement) with the Bank at the sole discretion of the Bank.

Cross-Liability. 7.1 The Borrower expressly accepts that if the Borrower fails to pay any monies when due or which may be declared due prior to the date when it would otherwise have become due or commits any other default under any agreement (including this agreementAgreement) with the Bank under which the Borrower is enjoying any financial/credit/other facility; then in such event the Bank shall, without prejudice to any of its specific rights under each of the agreements, be absolutely entitled to exercise all or any of its rights under any of the Borrower’s agreement (including this agreementAgreement) with the Bank at the sole discretion of the Bank.