Common use of Acceptance Of Late Or Partial Payments Clause in Contracts

Acceptance Of Late Or Partial Payments. The Holder of this Note may, at the Holder's discretion and as an accommodation to Maker, accept late or partial payment of any amount due under this Note; provided, however, that acceptance of one or more late or partial payments shall not constitute a waiver of any default nor of any of the Holder's right to receive timely payment of any other payment. Acceptance of any payment, whether partial or otherwise, after the happening or occurrence of an Event of Default and the acceleration of the due date of this Note shall not impair any of the Holder's rights or remedies under this Note.