Remedies Clause Example from Business Contracts

Remedies. 5.1 Upon the occurrence of an Event of Default specified in Sections 4.1 and 4.3, Payee may, by written notice to Maker, declare this Note to be due and payable, whereupon the principal amount of this Note, together with accrued interest thereon and all other amounts payable thereunder, shall become immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived, anything contained herein or in the documents evidencing the sa...me to the contrary notwithstanding. 5.2 Upon the occurrence of an Event of Default specified in Section 4.2, the unpaid principal balance of, all accrued, unpaid interest thereon, and all other sums payable with regard to, this Note shall automatically and immediately become due and payable, in all cases without any action on the part of Payee. View More