Common use of Effect of Default Clause in Contracts

Effect of Default. Default in any payment hereunder, including the payment of interest, shall not accelerate the maturity hereof except as herein specifically provided, and the obligation to make payments shall remain subordinated as hereinabove set forth.

Appears in 13 contracts

Sources: Receivables Purchase Agreement (Jpmorgan Chase Bank, National Association), Receivables Purchase Agreement, Receivables Purchase Agreement (Chase Card Funding LLC)