Example ContractsClausescovenant defaultIdentical
Covenant Default
Covenant Default contract clause examples

Default. It is expressly provided that upon default in the punctual payment of any indebtedness evidenced by this Note or any part hereof, as the same shall become due and payable, or upon the occurrence of an event of default specified in any of the other Loan Documents (as defined herein), the holder of this Note may, at its option, without further notice or demand, # declare the outstanding principal balance of and accrued but unpaid interest on this Note at once due and payable, # refuse to advance any additional amounts under this Note, # foreclose all liens securing payment hereof, # pursue any and all other rights, remedies and recourses available to the holder hereof, including but not limited to any such rights, remedies or recourses under the Loan Documents, at law or in equity, or # pursue any combination of the foregoing; and in the event default is made in the prompt payment of this Note when due or declared due, and the same is placed in the hands of an attorney for collection, or suit is brought on same, or the same is collected through probate, bankruptcy or other judicial proceedings, then the Borrower agrees and promises to pay all costs of collection, including reasonable attorney's fees.

GUARANTY BANCSHARES INC /TX/ (GNTY) (CIK 0001058867)
Source: SEC EDGAR database • Date: April 2, 2021 • SIC: 6021 • CIK: 6021

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