Common use of Optional Acceleration of Maturity Clause in Contracts

Optional Acceleration of Maturity. Except as provided in Section 8.3 hereof, upon the occurrence and during the continuance of an Event of Default, the Bank shall have the right by notice to the Borrower to (i) ter- minate the Commitment and (ii) accelerate the maturity of the Note and all liabilities and obligations of the Borrower under the Loan Documents, and, at the option of the Bank, to declare such obligations due and payable forthwith, and all such liabilities and obligations (including without limitation all contingent obligations of the Borrower in connection with Letters of Credit) shall thereafter be due and payable in full by the Borrower to the Bank, without presentment, demand, protest, notice of intent to accelerate, or any other notice of any kind, all of which are hereby expressly waived by the Borrower.

Optional Acceleration of Maturity. Except as provided in Section 8.3 hereof, upon the occurrence and during the continuance of an Event of Default, the Bank shall have the right by notice to the Borrower to (i) ter- minate terminate the Commitment and (ii) accelerate the maturity of the Note and all liabilities and obligations of the Borrower under the Loan Documents, and, at the option of the Bank, to declare such obligations due and payable forthwith, and all such liabilities and obligations (including without limitation all contingent obligations of the Borrower in connection with Letters of Credit) shall thereafter be due and payable in full by the Borrower to the Bank, without presentment, demand, protest, notice of intent to accelerate, or any other notice of any kind, all of which are hereby expressly waived by the Borrower.