Power to call up amounts secured Clause Samples

The 'Power to call up amounts secured' clause grants the lender the authority to demand repayment of all or part of the outstanding amounts secured by a loan or security agreement. In practice, this means that if certain conditions are met—such as a default by the borrower or the occurrence of a specified event—the lender can require immediate payment of the secured debt, even if the original repayment schedule has not yet matured. This clause serves to protect the lender by providing a mechanism to recover funds promptly in situations where the borrower's ability or willingness to repay is in question, thereby mitigating the lender's risk.
Power to call up amounts secured. The service of a notice under section 119 of the Property Law ▇▇▇ ▇▇▇▇ will be deemed to be the notice referred to in clause 11(1) of the implied terms to the intent that upon expiry of such notice, without remedy, the principal amount, interest, and other amounts for the time being secured by the mortgage will be due and payable without the need for any further notice of acceleration."
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