Due and Payable. Upon the occurrences of any such event of default, Lender at its option exercised by written notice to Borrower shall deem the principal under the Note, together with the interest and charges accrued thereon, become immediately due and payable.
Appears in 2 contracts
Sources: Loan and Security Agreement (Morgan Beaumont Inc), Bridge Loan and Warrant Purchase Agreement (Baltia Air Lines Inc)
Due and Payable. Upon the occurrences of any such event of default, Lender at its option exercised by written notice to Borrower shall deem the Lenders' option, the principal under the NoteNotes, together with the interest and charges accrued thereon, become shall be immediately due and payable.
Appears in 1 contract