Demand Payment. Guarantor agrees that upon the occurrence of an Event of Default (as defined in the Loan and Security Agreement between Borrower and Fremont), Guarantor, immediately following a demand for payment from Fremont, shall pay Fremont the full amount of the Indebtedness guarantied hereunder.
Appears in 1 contract
Sources: Secured Revolving Credit and Letter of Credit Facility (Digital Recorders Inc)
Demand Payment. Guarantor agrees that upon the occurrence of an Event of Default EVENT OF DEFAULT (as defined in the Loan and Security Agreement between Borrower and Fremont), Guarantor, immediately following a demand for payment from Fremont, shall pay Fremont the full amount of the Indebtedness guarantied hereunder.
Appears in 1 contract
Sources: Loan and Security Agreement (International Food & Beverage Inc /De/)