Common use of CONSEQUENCES OF DEFAULT; LENDER'S RIGHTS AND REMEDIES Clause in Contracts

CONSEQUENCES OF DEFAULT; LENDER'S RIGHTS AND REMEDIES. Time is of the essence of this Agreement. 13.2.1 Without prejudice to any right of Lender to require payment of any obligations of Borrower to Lender under any of the Loan Documents on demand, upon the occurrence of any Event of Default and at any time thereafter Lender may, at its sole option, do any one or more of the following: (a) Without notice to Borrower, declare the entire outstanding balance of principal and interest on the Notes and other Loan Documents immediately due and payable, whereupon the same shall become immediately due and payable without presentment, demand, protest or other requirements of any kind, all of which are expressly waived by Borrower; and (b) Exercise any and all other rights and remedies provided in the Loan Documents and in any related agreements and documents, and as otherwise provided by law. 13.2.2 Notwithstanding any right to cure events of default provided in any Note or any of the other Loan Documents, Borrower agrees that Borrower shall have only such cure rights as may be set forth herein. ARTICLE XIV

CONSEQUENCES OF DEFAULT; LENDER'S RIGHTS AND REMEDIES. Time is of the essence of this Agreement. 13.2.1 Without prejudice to any right of Lender to require payment of any obligations of Borrower to Lender under any of the Loan Documents on demand, upon the occurrence of any Event of Default and at any time thereafter Lender may, at its sole option, do any one or more of the following: (a) Without notice to Borrower, declare the entire outstanding balance of principal and interest on the Notes and other Loan Documents immediately due and payable, whereupon the same shall become immediately due and payable without presentment, demand, protest or other requirements of any kind, all of which are expressly waived by Borrower; and (b) Exercise any and all other rights and remedies provided in the Loan Documents and in any related agreements and documents, and as otherwise provided by law. 13.2.2 Notwithstanding any right to cure events of default provided in any Note or any of the other Loan Documents, Borrower agrees that Borrower shall have only such cure rights as may be set forth herein. ARTICLE XIV.