EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at ▇▇▇▇▇▇’s option, all Indebtedness immediately will become due and payable, all without notice of any kind to Borrower, except that in the case of an Event of Default of the type described in the “Insolvency” subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender’s rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by ▇▇▇▇▇▇ to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect ▇▇▇▇▇▇’s right to declare a default and to exercise its rights and remedies.
Appears in 4 contracts
Sources: Business Loan Agreement (Rocky Mountain Chocolate Factory Inc), Business Loan Agreement (Primal Solutions Inc), Business Loan Agreement (Coast Financial Holdings Inc)
EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at ▇▇▇▇▇▇’s Lender's option, all Indebtedness indebtedness immediately will become due and payable, all without notice of any kind to Borrower, except that in the case of an Event of Default of the type described in the “"Insolvency” " subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, equity or otherwise. Except as may be prohibited by applicable law, all of Lender’s 's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by ▇▇▇▇▇▇ Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect ▇▇▇▇▇▇’s Lender's right to declare a default and to exercise its rights and remedies.
Appears in 4 contracts
Sources: Business Loan Agreement (Autocorp Equities Inc), Business Loan Agreement (Autocorp Equities Inc), Business Loan Agreement (Autocorp Equities Inc)
EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at ▇▇▇▇▇▇’s Lender's option, all Indebtedness immediately will become due and payable, all without notice of any kind to Borrower, except that in the case of an Event of Default of the type described in the “"Insolvency” " subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender’s 's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by ▇▇▇▇▇▇ Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect ▇▇▇▇▇▇’s Lender's right to declare a default and to exercise its rights and remedies.
Appears in 4 contracts
Sources: Business Loan Agreement (NPR Inc), Business Loan Agreement (Artest Corp), Business Loan Agreement (Niku Corp)
EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at ▇▇▇▇▇▇’s 's option, all Indebtedness immediately will become due and payable, all without notice of any kind to Borrower, except that in the case of an Event of Default of the type described in the “Insolvency” " subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender’s 's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by ▇▇▇▇▇▇ to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect ▇▇▇▇▇▇’s 's right to declare a default and to exercise its rights and remedies.
Appears in 2 contracts
Sources: Business Loan Agreement, Business Loan Agreement (Rocky Mountain Chocolate Factory Inc)
EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at ▇▇▇▇▇▇Lender’s option, all Indebtedness immediately will become due and payable, all without notice of any kind to Borrower, except that in the case of an Event of Default of the type described in the “Insolvency” subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender’s rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by ▇▇▇▇▇▇ Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor Guarantor shall not affect ▇▇▇▇▇▇Lender’s right to declare a default and to exercise its rights and remedies.
Appears in 2 contracts
Sources: Business Loan Agreement, Business Loan Agreement (Basin Water, Inc.)
EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at ▇L▇▇▇▇▇’s option, all Indebtedness immediately will become due and payable, all without notice of any kind to Borrower, except that in the case of an Event of Default of the type described in the “Insolvency” subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender’s rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by ▇L▇▇▇▇▇ to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect ▇L▇▇▇▇▇’s right to declare a default and to exercise its rights and remedies.
Appears in 2 contracts
Sources: Business Loan Agreement (Rocky Mountain Chocolate Factory Inc), Business Loan Agreement (Rocky Mountain Chocolate Factory Inc)
EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at ▇▇▇▇▇▇’s Lender's option, all Indebtedness immediately will become due and payable, all without notice of any kind to Borrower, except that in the case of an Event of Default of the type described in the “"Insolvency” " subsection above, such acceleration shall be automatic and not optional. In any addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender’s 's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by ▇▇▇▇▇▇ Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect ▇▇▇▇▇▇’s Lender's right to declare a default and to exercise its rights and remedies.
Appears in 2 contracts
Sources: Business Loan Agreement (Capitol First Corp), Business Loan Agreement (Capitol Communities Corp)
EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at ▇▇▇▇▇▇’s Lender's option, all Indebtedness immediately will become due and payable, all without notice of any kind to Borrower, except that in the case of an Event of Default of the type described in the “Insolvency” "insolvency" subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender’s 's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by ▇▇▇▇▇▇ Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect ▇▇▇▇▇▇’s Lender's right to declare a default and to exercise its rights and remedies.
Appears in 2 contracts
Sources: Business Loan Agreement (Coda Music Technology Inc), Business Loan Agreement (U S Laboratories Inc)
EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at ▇▇▇▇▇▇’s Lender's option, all Indebtedness indebtedness immediately will become due and payable, all without notice of any kind to Borrower, except that in the case of an Event of Default of the type described in the “"Insolvency” " subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender’s 's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by ▇▇▇▇▇▇ Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect ▇▇▇▇▇▇’s Lender's right to declare a default and to exercise its rights and remedies.
Appears in 2 contracts
Sources: Business Loan Agreement (New America Network Inc), Business Loan Agreement (NTS Properties Vi/Md)
EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements)terminate, and, at ▇▇▇▇▇▇Lender’s option, all Indebtedness immediately will become due and payable, all without notice of any kind to Borrower, except that in the case of an Event of Default of the type described in the “Insolvency” subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender’s rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by ▇▇▇▇▇▇ Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect ▇▇▇▇▇▇Lender’s right to declare a default and to exercise its rights and remedies.
Appears in 1 contract
EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at ▇▇▇▇▇▇’s Lender's option, all Indebtedness immediately will become due and payable, all without notice of any kind to Borrower, except that in the case of an Event of Default of the type described in the “"Insolvency” " subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender’s 's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by ▇▇▇▇▇▇ to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect ▇▇▇▇▇▇’s 's right to declare a default and to exercise its rights and remedies.
Appears in 1 contract
EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at ▇▇▇▇▇▇’s 's option, all Indebtedness immediately will become due and payable, all without notice of any kind to BorrowerBorrowers, except that in the case of an Event of Default of the type described in the “"Insolvency” " subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender’s 's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by ▇▇▇▇▇▇ to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower Borrowers or of any Grantor shall not affect ▇▇▇▇▇▇’s 's right to declare a default and to exercise its rights and remedies.
Appears in 1 contract
EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements)terminate, and, at ▇▇▇▇▇▇’s Lender's option, all Indebtedness indebtedness immediately will become due and payable, all without notice of any kind to Borrower, except that in the case of an Event of Default of the type described in the “"Insolvency” " subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender’s 's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by ▇▇▇▇▇▇ Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect ▇▇▇▇▇▇’s Lender's right to declare a default and to exercise its rights and remedies.
Appears in 1 contract
EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at ▇▇▇▇▇▇’s Lender's option, all Indebtedness immediately will become due and payable, all without notice of any kind to Borrower, except that in the case of an Event of Default of the type described in the “Insolvency” "insolvency" subsection above, such acceleration shall be automatic and not optional. In , in addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender’s 's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by ▇▇▇▇▇▇ Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect ▇▇▇▇▇▇’s Lender's right to declare a default and to exercise its rights and remedies.
Appears in 1 contract
EFFECT OF AN EVENT OF DEFAULT. If At any time after the occurrence and continuation of an Event of Default shall occurbeyond any applicable grace or cure period, except where otherwise provided in this Agreement or the Related Loan Documents, all commitments and obligations of Lender under this Agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at ▇▇▇▇▇▇’s option, all Indebtedness immediately will become due and payable, all without notice of any kind to Borrower, except that in the case of an Event of Default of the type described in the “Insolvency” subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in this Agreement and the Related Loan Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender’s rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by ▇▇▇▇▇▇ to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect ▇▇▇▇▇▇’s right to declare a default and to exercise its rights and remedies.
Appears in 1 contract
Sources: Business Loan Agreement (Hall of Fame Resort & Entertainment Co)
EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at ▇L▇▇▇▇▇’s option, all Indebtedness immediately will become due and payable, all without notice of any kind to Borrower, except that in the case of an Event of Default of the type described in the “Insolvency” subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in In equity, or otherwise. Except as may be prohibited by applicable law, all of Lender’s rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by ▇L▇▇▇▇▇ to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect ▇L▇▇▇▇▇’s right to declare a default and to exercise its rights and remedies.
Appears in 1 contract
EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at ▇▇▇▇▇▇Lender’s option, all Indebtedness immediately will become due and payable, all without notice of any kind to Borrower, except that in the case of an Event of Default of the type described in the “Insolvency” subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender’s rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by ▇▇▇▇▇▇ Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect ▇▇▇▇▇▇Lender’s right to declare a default and to exercise its rights and remedies.
Appears in 1 contract
EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at ▇▇▇▇▇▇’s Lender's option, all Indebtedness indebtedness immediately will become due and payable, all without notice of any kind to Borrower, except that in the case of an Event of Default of the type described in the “Insolvency” "insolvency" subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender’s 's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by ▇▇▇▇▇▇ Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect ▇▇▇▇▇▇’s Lender's right to declare a default and to exercise its rights and remedies.. MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Agreement:
Appears in 1 contract
Sources: Loan Agreement (Cutter & Buck Inc)
EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at ▇▇▇▇▇▇Lender’s option, all Indebtedness indebtedness immediately will become due and payable, all without notice of any kind to Borrower, except that in the case of an Event of Default of the type described in the “Insolvency” subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender’s rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by ▇▇▇▇▇▇ Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect ▇▇▇▇▇▇Lender’s right to declare a default and to exercise its rights and remedies.
Appears in 1 contract
EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in In this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement immediately Immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at ▇▇▇▇▇▇’s Lender's option, all Indebtedness immediately Immediately will become due and payable, all without notice of any kind to Borrower, except that in In the case of an Event of Default of the type described in In the “"Insolvency” " subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in In the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender’s 's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by ▇▇▇▇▇▇ Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect ▇▇▇▇▇▇’s Lender's right to declare a default and to exercise its rights and remedies.
Appears in 1 contract
Sources: Business Loan Agreement (Bobby Allison Wireless Corp)
EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at ▇▇▇▇▇▇’s Lender's option, all Indebtedness immediately will become due and payable, all without notice of any kind to Borrower, except that in the case of an Event of Default of the type described in the “"Insolvency” " subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender’s 's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by ▇▇▇▇▇▇ Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect ▇▇▇▇▇▇’s Lender's right to declare a default and to exercise its rights and remedies.
Appears in 1 contract
Sources: Negative Pledge Agreement (Universal Money Centers Inc)
EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements)terminate, and, at ▇▇▇▇▇▇’s Lender's option, all Indebtedness immediately will become due and payable, all without notice of any kind to Borrower, except that in the case of an and Event of Default of the type described in the “"Insolvency” " subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender’s 's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by ▇▇▇▇▇▇ to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect ▇▇▇▇▇▇’s 's right to declare a default and to exercise its rights and remedies.
Appears in 1 contract
EFFECT OF AN EVENT OF DEFAULT. If At any time after the occurrence and continuation of an Event of Default shall occurbeyond any applicable grace or cure period, except where otherwise provided in this Agreement or the Related Loan Documents, all commitments and obligations of Lender under this Agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements)terminate, and, at ▇▇▇▇▇▇Lender’s option, all Indebtedness immediately will become due and payable, all without notice of any kind to Borrower, except that in the case of an Event of Default of the type described in the “Insolvency” subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in this Agreement and the Related Loan Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender’s rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by ▇▇▇▇▇▇ to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect ▇▇▇▇▇▇’s right to declare a default and to exercise its rights and remedies.
Appears in 1 contract
Sources: Business Loan Agreement (Hall of Fame Resort & Entertainment Co)
EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender Lender, under this Agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at ▇▇▇▇▇▇Lender’s option, all Indebtedness immediately will become due and payable, all without notice of any kind to Borrower, except that in the case of an Event of Default of the type described in the “Insolvency” subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender’s rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by ▇▇▇▇▇▇ Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect ▇▇▇▇▇▇Lender’s right to declare a default and to exercise its rights and remedies.
Appears in 1 contract
Sources: Business Loan Agreement (Nocopi Technologies Inc/Md/)
EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at Le▇▇▇▇▇▇’s '▇ option, all Indebtedness immediately will become due and payable, all without notice of any kind to Borrower, except that in the case of an Event of Default of the type described in the “Insolvency” " subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender’s 's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by ▇▇Le▇▇▇▇ to ▇o pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect Le▇▇▇▇▇▇’s '▇ right to declare a default and to exercise its rights and remedies.
Appears in 1 contract
Sources: Business Loan Agreement (Rocky Mountain Chocolate Factory Inc)
EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), anddisbursements),and, at ▇▇▇▇▇▇▇ ’s option, all Indebtedness immediately will become due and payable, all without notice of any kind to Borrower, except that in the case of an Event of Default of the type described in In the “InsolvencyInsolvency ” subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender’s ▇▇▇▇▇▇ ’ s rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by ▇▇▇▇▇▇ to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect ▇▇▇▇▇▇▇ ’s right to declare a default and to exercise its rights and remedies.
Appears in 1 contract
EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at ▇▇▇▇▇▇’s 's option, all Indebtedness immediately will become due and payable, all without notice of any kind to Borrower, except that in the case of an Event of Default of the type described in the “"Insolvency” " subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender’s 's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by ▇▇▇▇▇▇ to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect ▇▇▇▇▇▇’s 's right to declare a default and to exercise its rights and remedies.
Appears in 1 contract
Sources: Business Loan Agreement (Hickok Inc)
EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in In this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement immediately Immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at ▇▇▇▇▇▇’s Lender's option, all Indebtedness immediately Immediately will become due and payable, all without notice of any kind to Borrower, except that in In the case of an Event of Default of the type described in In the “"Insolvency” " subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in In the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender’s 's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by ▇▇▇▇▇▇ Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect ▇▇▇▇▇▇’s Lender's right to declare a default and to exercise its rights and remedies.
Appears in 1 contract
Sources: Business Loan Agreement (Bobby Allison Wireless Corp)
EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at ▇▇▇▇▇▇’s Lender's option, all Indebtedness immediately will become due and payable, all without notice of any kind to Borrower, except that in the case of an Event of Default of the type described in the “"Insolvency” " subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender’s 's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by ▇▇▇▇▇▇ Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect ▇▇▇▇▇▇’s Lender's right to declare a default and to exercise its rights and remedies.
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EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at ▇▇▇▇▇▇’s Lender's option, all Indebtedness immediately will become due and payable, all without notice of any kind to Borrower, except that in the case of an Event of Default of the type described in the “"Insolvency” " subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender’s 's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by ▇▇▇▇▇▇ Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect ▇▇▇▇▇▇’s right to declare a default and to exercise its rights and remedies.to
Appears in 1 contract
Sources: Business Loan Agreement (Pods Inc)
EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, and at ▇▇▇▇▇▇’s Lenders option, all Indebtedness immediately will become due and payable, all without notice of any kind to Borrower, except that in the case of an Event of Default of the type described in the “"Insolvency” " subsection above, such acceleration shall be automatic and not optional. In addition, Lender Borrower shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender’s 's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by ▇▇▇▇▇▇ Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect ▇▇▇▇▇▇’s Lender's right to declare a default and to exercise its rights and remedies.
Appears in 1 contract
Sources: Business Loan Agreement (Exigent International Inc)
EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at ▇▇▇▇▇▇’s Lender's option, all Indebtedness immediately will become due and payable, all without notice of any kind to Borrower, except that in the case of an Event of Default of the type described in the “"Insolvency” * subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender’s 's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by ▇▇▇▇▇▇ Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect ▇▇▇▇▇▇’s Lender's right to declare a default and to exercise its rights and remedies.
Appears in 1 contract
Sources: Loan Agreement (Biomeridan Corp)
EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at Le▇▇▇▇▇▇’s '▇ option, all Indebtedness immediately will become due and payable, all without notice of any kind to Borrower, except that in the case of an Event of Default of the type described in the “"Insolvency” " subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender’s Lenders rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by ▇▇Le▇▇▇▇ to ▇o pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect Le▇▇▇▇▇▇’s '▇ right to declare a default and to exercise its rights and remedies.
Appears in 1 contract
Sources: Business Loan Agreement (Rocky Mountain Chocolate Factory Inc)
EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documentsdocuments, all commitments and obligations of Lender under this Agreement immediately or the Related Documents or any other agreement Immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at ▇▇▇▇▇▇’s Lender's option, all Indebtedness immediately will become due and payable, all without notice of any kind to Borrower, except that in the earth case of an Event of Default of the type described in the “"Insolvency” " subsection above, such acceleration shall be automatic and end not optional. In Ir addition, Lender shall have all the rights and end remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender’s 's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by ▇▇▇▇▇▇ Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an are the obligation of Borrower or of any Grantor shall not affect ▇▇▇▇▇▇’s Lender's right to declare a default and to exercise its rights and remedies.
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EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at ▇▇▇▇▇▇’s option, all Indebtedness immediately will become due and payable, all without notice of any kind to Borrower, except that in the case of an Event of Default of the type described in In the “Insolvency” subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender’s rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by ▇▇▇▇▇▇ to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect ▇▇▇▇▇▇’s right to declare a default and to exercise its rights and remedies.
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