Common use of Immediate Repayment Clause in Contracts

Immediate Repayment. Without detracting from any right available to the Lender in accordance with the provisions of this Agreement and/or according to law, it is hereby agreed that in the event of one or more of the cases listed below, the Lender may demand the Loan to be repaid immediately, realize collaterals and carry out any procedure, including legal procedures, as it deems appropriate and as the law allows, all this at the Lender’s sole discretion (hereinafter: “Immediate Repayment”): 4.1. The Borrower did not comply with their obligations and/or statements according to this Agreement; 4.2. A request for liquidation and/or a request for the appointment of a receiver and/or a request to freeze proceedings against the Borrower and/or their assets was submitted and the request was not canceled and/or deleted and/or rejected within 14 (fourteen) days from the date it was submitted. 4.3. An asset receiver (temporary or permanent) and/or a trustee and/or a special manager and/or a liquidator (temporary or permanent) or any other official was appointed for the Borrower, and these appointments have not been canceled within 30 (thirty) days from the date of the appointment. 4.4. A liquidation order has been issued against the Borrower or a decision on voluntary liquidation has been accepted by the shareholders’ meeting. 4.5. A lien has been imposed on any of the Borrower’s assets and/or rights, which might prevent and/or impair the Borrower’s ability to fulfill their obligations under this Agreement, and the lien has not been removed within 45 days. 4.6. The Borrower have stopped their activity for a period exceeding 30 days or (as the case may be). 4.7. There is a real concern that the Borrower will not be able to meet their obligations under this Agreement. 4.8. The Borrower became a “restricted customer” as defined in the Checks Without Cover Law, 5740-1980, or if any of the Borrowers’ accounts become a “restricted account” as defined in this law.

Immediate Repayment. Without detracting derogating from any right available of the Lender’s rights pursuant to the Lender in accordance with the provisions of this Agreement agreement and/or according to the law, it is hereby agreed that in the event of one or more of the cases listed below, the Lender may demand the Loan to be repaid immediatelyimmediate repayment of the Loan, realize collaterals execute guarantees, and carry out any proceduretake action, including legal procedures, action as it deems appropriate may deem fit and as the law allowspermitted by law, all this at subject to the Lender’s sole exclusive discretion of the Lender (hereinafter: “Immediate Repayment”): 4.15.1. The Borrower did not comply with their fulfill its obligations and/or statements according declarations pursuant to this Agreementagreement; 4.25.2. A request An application for the liquidation and/or a request for the appointment of a an administrative receiver and/or a request to freeze stay of proceedings was filed against the Borrower and/or their its assets was submitted and/or any of its guarantors, and the request application was not canceled and/or deleted stroke out and/or rejected dismissed within 14 (fourteen) days from the date it was submittedas of its filing. 4.35.3. An asset administrative receiver (temporary or permanent) and/or a trustee and/or a special manager administrator and/or a liquidator (temporary or permanent) or any other official was officer is/are appointed for to the Borrower, and these appointments have are not been canceled within 30 thirty (thirty30) days from the date of the appointmenttaking effect. 4.45.4. A liquidation winding up order has been was issued against the Borrower and/or any one of the guarantors, or the Shareholders’ Meeting adopted a decision on voluntary liquidation has been accepted by the shareholders’ meetingliquidation. 4.55.5. A lien has been imposed on any An asset and/or right of the Borrower’s assets Borrower was seized, preventing and/or rights, which might prevent and/or impair affecting the Borrower’s ability to fulfill their its obligations under pursuant to this Agreementagreement, and the lien has seizure was not been removed within 45 days. 4.65.6. The Borrower have stopped their activity ceased to operate for a period exceeding of over 30 days or [sic] (as the case may beapplicable). 4.75.7. There is a real concern that the Borrower and/or guarantors will not be able to meet fulfill their obligations under pursuant to this Agreementagreement. 4.85.8. The Borrower became a “restricted customer” as defined in the Checks Cheques Without Cover Law, 57405741-1980, or if any of the Borrowers’ Borrower’s accounts become becomes a “restricted account” as defined in this said law. 5.9. It becomes clear to the Lender, according to its exclusive discretion, that the Borrower acted in a way that affects its ability to fulfill its obligations pursuant to this agreement. 5.10. Issuing a demand for Immediate Repayment or a notification regarding the intention to demand Immediate Repayment of any credit granted to the Borrower or any of the guarantors.