Acknowledgement of Default. Borrower hereby acknowledges that as of the date hereof, the following Event of Default (the “Existing Default”) has occurred and remains uncured under the Loan and Security Agreement: a. Borrower’s net loss negatively deviating by more than 30% from projected net loss for the quarter ended March 31, 2012, as set forth in Section 6.11.
Appears in 2 contracts
Sources: Loan and Security Modification Agreement (Singulex Inc), Loan and Security Modification Agreement (Singulex Inc)