This office lease clause is an onerous approach to a default remedies clause. This clause is similar to those found in many New York City landlord office lease forms.
Indiana Onerous Approach to Default Remedy Clause
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US-OL14032
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Other remedies that lenders can consider if an event of default exists under a loan agreement are: Refusing to make further loans or issue additional letters of credit. Accelerating the borrower's loan repayment obligations. Requiring the borrower to cash collateralize undrawn and unexpired letters of credit.
This provision specifies the remedies for an Event of Default and also outlines the order in which available funds will be disbursed to the lenders. all outstanding borrowings become immediately due and payable. all outstanding borrowings become immediately due and payable.