Common use of Acceleration Clause Clause in Contracts

Acceleration Clause. Notwithstanding anything herein to the contrary, Maker shall be deemed in default hereunder and under the Security Agreement, and, at the option of the then holder hereof, exercisable by written notice given to Maker by certified or registered mail, postage and fees prepaid, addressed to Maker at Maker’s address set forth below or at such other address as Maker may hereafter furnish in writing to such holder, the entire unpaid principal amount of this Note, all interest accrued and unpaid hereunder and all other sums payable hereunder or under the Security Agreement shall, to the extent not otherwise coming due before such date, become immediately due and payable, upon the first to occur of any of the following:

Acceleration Clause. Notwithstanding anything herein to the contrary, Maker shall be deemed in default hereunder and under the Security Agreement, and, at the option of the then holder hereof, exercisable by written notice given to Maker by certified or registered mail, postage and fees prepaid, addressed to Maker at Maker’s address set forth below or at such other address as Maker may hereafter furnish in writing to such holder, the entire unpaid principal amount of this Note, all interest accrued and unpaid hereunder and all other sums payable hereunder or under the Security Agreement shall, to the extent not otherwise coming due before such date, become immediately due and payable, upon the first to occur of any of the following:: Failure to Pay