Consequences of Default. Upon the occurrence of an Event of Default and at any time thereafter, the entire unpaid principal balance of this Note, together with interest accrued thereon and with all other sums due or owed by the Company hereunder, shall become immediately due and payable. In addition, at the election of ▇▇▇▇▇▇, the principal balance and all past-due interest shall thereafter bear interest at the rate of 18% per annum until paid.
Appears in 10 contracts
Sources: Security Agreement (AccessKey IP, Inc.), Security Agreement (AccessKey IP, Inc.), Security Agreement (AccessKey IP, Inc.)
Consequences of Default. Upon the occurrence of an Event of Default and at any time thereafter, the entire unpaid principal balance of this Note, together with interest accrued thereon and with all other sums due or owed by the Company Maker hereunder, shall become immediately due and payable. In addition, at the election of ▇▇▇▇▇▇, the principal balance and all past-due interest shall thereafter bear interest at the rate of 18% per annum until paid.
Appears in 6 contracts
Sources: Credit Agreement (Us Energy Corp), Secured Convertible Note Agreement (AccessKey IP, Inc.), Convertible Note Agreement (ICC Worldwide, Inc.)
Consequences of Default. Upon the occurrence of an Event of Default and at any time thereafter, the entire unpaid principal balance of this Note, together with interest accrued thereon and with all other sums due or owed by the Company hereunder, shall become immediately due and payable. In addition, at the election of ▇▇▇▇▇▇, the principal balance and all past-due interest shall thereafter bear interest at the rate of 18% per annum until paid.
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Consequences of Default. Upon the occurrence of an Event of Default ------------------------- and at any time thereafter, the entire unpaid principal balance of this Note, together with interest accrued thereon and with all other sums due or owed by the Company Maker hereunder, shall become immediately due and payable. In addition, at the election of ▇▇▇▇▇▇, the principal balance and all past-due interest shall thereafter bear interest at the rate of 18% per annum until paid.
Appears in 1 contract