Common use of DEFAULT AND ACCELERATION Clause in Contracts

DEFAULT AND ACCELERATION. Borrower shall be in default upon the occurrence of any one or more of the events enumerated in Section A.4 above. Upon the occurrence of an Event of Default, Lender may, at its option, declare the entire unpaid balance of principal and interest on this Promissory Note, as well as the unpaid principal and interest on any other indebtedness or liability of Borrower to Lender, immediately due and payable without notice or demand. NOTICE OF ASSIGNMENT: Obligations under this Promissory Note have been pledged to CoBank, ACB, as administrative agent (“Administrative Agent”) for the benefit of

Appears in 9 contracts

Sources: Loan Application and Agreement, Loan Agreement, Loan Application