ACCELERATED MATURITY. Without prejudice to any of its other rights and obligations, the Payee may, at its option, terminate all of its obligations under this Note with immediate effect, and demand immediate payment of all of its claims under this Note in their nominal amount, by notifying the Obligor in writing, if (i) the Obligor does not pay on the due date any amount payable pursuant to the Note at the place and in the currency in which it is expressed to be payable, or (ii) any corporate action, legal proceedings or other procedure or steps (including the appointment of any liquidator, receiver, administrator or similar officer) is taken in relation to, the winding up, dissolution, administration or reorganisation of the Obligor or any #10338536v8 suspension of payments or bankruptcy or moratorium or settlement of any indebtedness of any Obligor, or any analogous procedure or step is taken in any jurisdiction.
Appears in 1 contract
Sources: Limited Partnership Agreement (Host Hotels & Resorts L.P.)
ACCELERATED MATURITY. Without prejudice to any of its other rights and obligations, the Payee may, at its option, terminate all of its obligations under this Note with immediate effect, and demand immediate payment of all of its claims under this Note in their nominal amount, by notifying the Obligor in writing, if (i) the Obligor does not pay on the due date any amount payable pursuant to the Note at the place and in the currency in which it is expressed to be payable, or (ii) any corporate action, legal proceedings or other procedure or steps (including the appointment of any liquidator, receiver, administrator or similar officer) is taken in relation to, the winding up, dissolution, administration or reorganisation of the Obligor or any Annex-H-3 #10338536v8 suspension of payments or bankruptcy or moratorium or settlement of any indebtedness of any Obligor, or any analogous procedure or step is taken in any jurisdiction.
Appears in 1 contract
Sources: Limited Partnership Agreement