Common use of Default Under Note Clause in Contracts

Default Under Note. The failure by the Borrower to keep or perform any of the terms, covenants, and conditions to be kept or performed by it under this Agreement shall constitute a default under the Note.

Default Under Note. The failure by the Borrower and the Owner to keep or perform any of the terms, covenants, and conditions to be kept or performed by it under this Agreement shall constitute a default under the Note.