Default Payment. If an Event of Default occurs, the Holder, at its option, may elect, in addition to all rights and remedies of Holder under the Security Agreement and all obligations of Borrower under the Security Agreement, to require the Borrower to make a Default Payment ("Default Payment"). The Default Payment shall be the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder.
Appears in 5 contracts
Sources: Secured Convertible Minimum Borrowing Note (Inyx Inc), Secured Revolving Note (Inyx Inc), Secured Convertible Note (Home Solutions of America Inc)
Default Payment. If an Event of Default occurs, the Holder, at its option, may elect, in addition to all rights and remedies of Holder under the Security Agreement and all obligations of Borrower under the Security Agreement, to require the Borrower to make a Default Payment ("βDefault Payment"β). The Default Payment shall be the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder.
Appears in 4 contracts
Sources: Security Agreement (Electric City Corp), Secured Convertible Revolving Note (Electric City Corp), Secured Revolving Note (Micro Component Technology Inc)
Default Payment. If an Event of Default occurs, the Holder, at its option, may elect, in addition to all rights and remedies of Holder under the Security Agreement and all obligations of Borrower under the Security Agreement, to require the Borrower to make a Default Payment ("Default PaymentDEFAULT PAYMENT"). The Default Payment shall be the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder.
Appears in 3 contracts
Sources: Convertible Note (Ventures National Inc), Secured Convertible Minimum Borrowing Note (Transgenomic Inc), Secured Revolving Note (Transgenomic Inc)
Default Payment. If an Event of Default occurs, the Holder, ---------------- at its option, may elect, in addition to all rights and remedies of Holder under the Security Agreement and all obligations of each Borrower under the Security Agreement, to require the Borrower Borrowers to make a Default Payment ("Default PaymentDEFAULT PAYMENT"). The Default Payment shall be the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder.
Appears in 1 contract
Sources: Secured Revolving Note (Elinear Inc)
Default Payment. If an Event of Default occurs, the Holder, at ---------------- its option, may elect, in addition to all rights and remedies of Holder under the Security Agreement and all obligations of each Borrower under the Security Agreement, to require the Borrower Borrowers to make a Default Payment ("Default PaymentDEFAULT PAYMENT"). The Default Payment shall be the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder.
Appears in 1 contract
Sources: Secured Convertible Minimum Borrowing Note (Elinear Inc)
Default Payment. If an Event of Default occurs, the Holder, at its option, may elect, in addition to all rights and remedies of Holder under the Security Agreement and all obligations of Borrower under the Security Agreement, by written notice to the Borrower to require the Borrower to make a Default Payment ("Default DEFAULT Payment"). The Default Payment shall be the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder.
Appears in 1 contract