Common use of Concurrent Proceedings Clause in Contracts

Concurrent Proceedings. Notwithstanding any provision hereof, it is hereby expressly agreed that upon the occurrence of an Event of Default, the Lender shall have vested in it the right to exercise all or any of the remedies available whether by this Agreement or by statute or otherwise and upon the declaration of an Event of Default, the Lender shall be entitled to exercise such remedies concurrently to recover all monies due and owing to the Lender.