Common use of Payable on Demand Clause in Contracts

Payable on Demand. The Loan is payable on demand. Nothing contained in this Agreement or the Collateral Documents, including, but not limited to, the reference to a Default, shall be construed to prevent HCA from making demand, without notice and without reason, for immediate payment of all or any part of the Loan whether or not a Default has occurred. Demand for repayment of the Loan by HCA can be made at any time or times. Borrower and all endorsers and guarantors hereof, if any, hereby jointly and severally waive presentment for payment, demand, notice of non-payment, notice of protest or protest of this Agreement or the Indebtedness, diligence in collection or bringing suit, and hereby consent to any and all extensions of time, renewals, waivers, or modifications that may be granted by HCA with respect to the payment or any other provisions of this Agreement, and to the release of any Collateral or any part thereof, with or without substitution. The liability of the Borrower shall be absolute and unconditional, without regard to the liability of any other party hereto.