Common use of EFFECT OF AN EVENT OF DEFAULT Clause in Contracts

EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, and unless such Event of Default shall be cured to the satisfaction of Lender and Ex-Im Bank, Lender may, at its option, without further notice or demand, (a) declare all Borrower's Obligations (contingent or otherwise) immediately due and payable; (b) refuse to make or incur any additional Credit Accommodations under this Agreement or the Note; (d) assemble, sell, lease, buy, transfer or otherwise dispose of the Collateral or the Proceeds thereof; and (e) exercise all the rights and remedies provided in this Agreement, the Note, the Waiver Letter or in any of the other Financing Documents or available at law, in equity, or otherwise; provided, however, that if any Event of Default of the type described in Section 8.1(f) shall occur, all Borrower's Obligations shall automatically become fully due and payable, without any notice, demand or action by Lender. Except as may be prohibited by applicable law, all of Lender's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower shall not affect Lender's right to declare a default and to exercise its rights and remedies.

EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, and unless such Event of Default shall be cured to the satisfaction of Lender and Ex-Im Bank, Lender may, at its option, without further notice or demand, (a) declare all Borrower's Obligations (contingent or otherwise) immediately due and payable; (b) refuse to make or incur any additional Credit Accommodations under except where otherwise provided in this Agreement or the Note; (d) assembleRelated Documents, sellall commitments and obligations of Lender under this Agreement, leasethe Related Documents, buy, transfer and every other agreement between Lender and any one or otherwise dispose more of the Collateral Borrowers immediately will terminate (including any obligation to make Loan Advances or disbursements), and, at Lender’s option, all Indebtedness immediately will become due and payable, all without notice of any kind to Borrower, except that in the Proceeds thereof; case of an Event of Default of the type described in the “Death or Insolvency” subsection above, including any such event as it applies to any Guarantor, such acceleration shall be automatic and (e) exercise not optional. In addition, Lender shall have all the rights and remedies expressly provided elsewhere in this Agreement, Agreement and in the Note, the Waiver Letter or in any of the other Financing Related Documents or available at law, in equity, or otherwise; provided, however, that if any Event of Default of the type described in Section 8.1(f) shall occur, all Borrower's Obligations shall automatically become fully due and payable, without any notice, demand or action by Lender. Except as may be prohibited by applicable law, all of Lender's ’s rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Guarantor shall not affect Lender's ’s right to declare a default and to exercise its rights and remedies.

EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, and unless such Event of Default shall be cured to the satisfaction of Lender and Ex-Im Bank, Lender may, at its option, without further notice or demand, (a) terminate all commitments and obligations of Lender to make Loans to Borrower, if any, (b) declare all Borrower's Obligations (contingent or otherwise) Loans and any other Indebtedness immediately due and payable; , (bc) refuse to make or incur advance any additional Credit Accommodations amounts under this Agreement or the Note; , or (d) assemble, sell, lease, buy, transfer or otherwise dispose of the Collateral or the Proceeds thereof; and (e) exercise all the rights and remedies provided in this Agreement, the Note, the Waiver Letter Note or in any of the other Financing Related Documents or available at law, in equity, or otherwise; provided, however, that if any Event of Default of the type described in Section 8.1(f) the "Bankruptcy or Insolvency" subsection above shall occur, all Borrower's Obligations Loans and any other Indebtedness shall automatically become fully due and payable, without any notice, demand or action by Lender. Except as may be prohibited by applicable law, all of Lender's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender to pursue any remedy remedies shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or any Grantor shall not affect Lender's right to declare a default and to exercise its rights and remedies.

EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and unless such Event of Default shall be cured to the satisfaction obligations of Lender and Ex-Im Bank, Lender may, at its option, without further notice or demand, (a) declare all Borrower's Obligations (contingent or otherwise) immediately due and payable; (b) refuse to make or incur any additional Credit Accommodations under this Agreement or the Note; Related Documents or any other agreement immediately will 09-29-1998 BUSINESS LOAN AGREEMENT Page 14 Loan No. 0221440309 (dContinued) assemble================================================================================ terminate (including any obligation to make Loan Advances or disbursements), selland, leaseat Lender's option, buyall indebtedness immediately will become due and payable, transfer or otherwise dispose all without notice of any kind to Borrower, except that in the case of an Event of Default of the Collateral or type described in the Proceeds thereof; "Insolvency" subsection above, such acceleration shall be automatic and (e) exercise not optional. In addition, Lender shall have all the rights and remedies provided in this Agreement, the Note, the Waiver Letter or in any of the other Financing Related Documents or available at law, in equity, or otherwise; provided, however, that if any Event of Default of the type described in Section 8.1(f) shall occur, all Borrower's Obligations shall automatically become fully due and payable, without any notice, demand or action by Lender. Except as may be prohibited by applicable law, all of Lender's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect Lender's right to declare a default and to exercise its rights and remedies.

EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, and unless such Event of Default shall be cured to the satisfaction of Lender and Ex-Im Bank, Lender may, at its option, without further notice or demand, (a) declare all Borrower's Obligations (contingent or otherwise) immediately due and payable; (b) refuse to make or incur any additional Credit Accommodations under except where otherwise provided in this Agreement or the Note; (d) assembleRelated Documents, sellall commitments and obligations of Lender under this Agreement, leasethe Related Documents, buy, transfer and every other agreement between Lender and any one or otherwise dispose more of the Collateral Borrowers immediately will terminate (including any obligation to make Loan Advances or disbursements), and, at Lender's option, all Indebtedness immediately will become due and payable, all without notice of any kind to Borrower, except that in the Proceeds thereof; case of an Event of Default of the type described in the "Death or Insolvency" subsection above, including any such event as it applies to any Guarantor, such acceleration shall be automatic and (e) exercise not optional. In addition, Lender shall have all the rights and remedies expressly provided elsewhere in this Agreement, Agreement and in the Note, the Waiver Letter or in any of the other Financing Related Documents or available at law, in equity, or otherwise; provided, however, that if any Event of Default of the type described in Section 8.1(f) shall occur, all Borrower's Obligations shall automatically become fully due and payable, without any notice, demand or action by Lender. Except as may be prohibited by applicable law, all of Lender's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Guarantor shall not affect Lender's right to declare a default and to exercise its rights and remedies.. MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Agreement:

EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, and unless such Event of Default shall be cured to the satisfaction of Lender and Ex-Im Bank, Lender may, at its option, without further notice or demand, (a) declare all Borrower's ’s Obligations (contingent or otherwise) immediately due and payable; (b) refuse to make or incur any additional Credit Accommodations under this Agreement or the Note; (d) assemble, sell, lease, buy, transfer or otherwise dispose of the Collateral or the Proceeds thereof; and (e) exercise all the rights and remedies provided in this Agreement, the Note, the Waiver Letter or in any of the other Financing Documents or available at law, in equity, or otherwise; provided, however, that if any Event of Default of the type described in Section 8.1(f) shall occur, all Borrower's ’s Obligations shall automatically become fully due and payable, without any notice, demand or action by Lender. Except as may be prohibited by applicable law, all of Lender's ’s rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower shall not affect Lender's ’s right to declare a default and to exercise its rights and remedies.

EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, and unless such Event of Default shall be cured to the satisfaction of Lender and Ex-Im Bank, Lender may, at its option, without further notice or demand, (a) declare all Borrower's Obligations (contingent or otherwise) immediately due and payable; (b) refuse to make or incur any additional Credit Accommodations under except where otherwise provided in this Agreement or the Note; Related Documents, all commitments and obligations of Lender under this Agreement, the Related Documents, and every other agreement between Lender and Borrower immediately will terminate (d) assembleincluding any obligation to make Loan Advances or disbursements), selland, leaseat Lender’s option, buyall Indebtedness immediately will become due and payable, transfer or otherwise dispose all without notice of any kind to Borrower, except that in the case of an Event of Default of the Collateral type described in the “Death or the Proceeds thereof; Insolvency” subsection above, including any such event as it applies to any Guarantor, such acceleration shall be automatic and (e) exercise not optional. In addition, Lender shall have all the rights and remedies expressly provided elsewhere in this Agreement, Agreement and in the Note, the Waiver Letter or in any of the other Financing Related Documents or available at law, in equity, or otherwise; provided, however, that if any Event of Default of the type described in Section 8.1(f) shall occur, all Borrower's Obligations shall automatically become fully due and payable, without any notice, demand or action by Lender. Except as may be prohibited by applicable law, all of Lender's ’s rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Guarantor shall not affect Lender's ’s right to declare a default and to exercise its rights and remedies.