Common use of Note Terms Clause in Contracts

Note Terms. The Company defaults in the due and punctual performance or observance of any material terms contained in this Note, and such default continues for a period of thirty (30) consecutive days after written notice thereof to the Company by the holder of this Note, except that any such default by the Company will not result in an Event of Default if such default is waived by the holder(s) of a majority of the total principal amount then outstanding of the 1996 Subordinated Notes of the Company; or

Note Terms. The Company defaults in the due and punctual performance or observance of any material terms contained in this NoteNote (other than payment defaults which are covered by subparagraphs (a) and (b) above), and such default continues for a period of thirty (30) consecutive days after written receipt of the notice thereof to the Company by from the holder of this NoteHolder specifying in reasonable detail the default to be cured, except that any such default by the Company will not result in an Event of Default hereunder if such default is waived by the holder(s) of a majority of the total principal amount then outstanding of the 1996 Subordinated Notes of the Company; orHolder;