Common use of Remedies Upon Event of Default Clause in Contracts

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 94 contracts

Sources: Convertible Security Agreement (Nauticus Robotics, Inc.), Convertible Security Agreement (Rapid Therapeutic Science Laboratories, Inc.), Convertible Security Agreement (Ucommune International LTD)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by H▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 60 contracts

Sources: Convertible Security Agreement (Dih Holding Us, Inc.), Convertible Security Agreement (Dih Holding Us, Inc.), Convertible Security Agreement (Prairie Operating Co.)

Remedies Upon Event of Default. If Subject to the Beneficial Ownership Limitation as set forth in Section 4(d), if any Event of Default occurs, then the outstanding principal amount of this DebentureNote, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after After the occurrence of any Event of Default that results in the eventual acceleration of this DebentureNote, the interest rate on this Debenture Note shall accrue at an additional interest rate equal to the lesser of 182% per annum month (24% per annum) or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture Note to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture Note until such time, if any, as the Holder receives full payment pursuant to this Section 8(b6(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 25 contracts

Sources: Convertible Security Agreement (ComSovereign Holding Corp.), Convertible Security Agreement (ComSovereign Holding Corp.), Convertible Security Agreement (Premier Biomedical Inc)

Remedies Upon Event of Default. If Subject to the Beneficial Ownership Limitation as set forth in Section 4(d), if any Event of Default occurs, then the outstanding principal amount of this DebentureNote, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after After the occurrence of any Event of Default that results in the eventual acceleration of this DebentureNote, the interest rate on this Debenture Note shall accrue at an additional interest rate equal to the lesser of 182% per annum month (24% per annum) or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture Note to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by H▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture Note until such time, if any, as the Holder receives full payment pursuant to this Section 8(b6(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 18 contracts

Sources: Convertible Security Agreement (Ifan Financial, Inc.), Convertible Security Agreement (Lifelogger Technologies Corp), Convertible Security Agreement (Ifan Financial, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 five (5) days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 13 contracts

Sources: Convertible Security Agreement (Lion Group Holding LTD), Convertible Security Agreement (Lion Group Holding LTD), Convertible Security Agreement (Lion Group Holding LTD)

Remedies Upon Event of Default. If Subject to the Beneficial Ownership Limitation as set forth in Section 4(d), if any Event of Default occurs, then the outstanding principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after After the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an additional interest rate equal to the lesser of 182% per annum month (24% per annum) or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b6(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 12 contracts

Sources: Convertible Security Agreement (Notis Global, Inc.), Convertible Security Agreement (Notis Global, Inc.), Convertible Security Agreement (Medbox, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 1815% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by H▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b7(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 12 contracts

Sources: Convertible Security Agreement (Sigyn Therapeutics, Inc.), Common Stock Purchase Warrant (Sigyn Therapeutics, Inc.), Convertible Security Agreement (Sigyn Therapeutics, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 1817% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b9(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 10 contracts

Sources: Convertible Security Agreement (Waste2Energy Holdings, Inc.), Securities Agreement (American Scientific Resources Inc), Convertible Security Agreement (American Scientific Resources Inc)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 10 contracts

Sources: Convertible Security Agreement (PFO Global, Inc.), Convertible Security Agreement (PFO Global, Inc.), Convertible Security Agreement (PFO Global, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding full principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages together with interest and other amounts owing in respect thereof through thereof, to the date of acceleration, acceleration shall become, at the Holder’s election, immediately due and payable in cash at cash. The aggregate amount payable upon an Event of Default shall be equal to the Mandatory Default Prepayment Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest the rate equal to the lesser of 18% per annum annum, or the such lower maximum rate amount of interest permitted to be charged under applicable law. Upon All Debentures for which the payment full Mandatory Prepayment Amount hereunder shall have been paid in full of the Mandatory Default Amount, the Holder accordance herewith shall promptly surrender this Debenture be surrendered to or as directed by the Company. In connection with such acceleration described herein, the The Holder need not provide, provide and the Company hereby waives, waives any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration declaration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a Debenture holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to under this Section 8(b)shall have been received by it. No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 10 contracts

Sources: Convertible Security Agreement (Generex Biotechnology Corp), Convertible Security Agreement (Technoconcepts, Inc.), Convertible Security Agreement (Global National Communications Corp.)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ Holder at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 9 contracts

Sources: Securities Purchase Agreement (Safe-T Group Ltd.), Securities Exchange Agreement (Microbot Medical Inc.), Securities Purchase Agreement (Legend Oil & Gas, Ltd.)

Remedies Upon Event of Default. If Subject to the Beneficial Ownership Limitation as set forth in Section 4(d), if any Event of Default occurs, then the outstanding principal amount of this DebentureNote, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s 's election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after After the occurrence of any Event of Default that results in the eventual acceleration of this DebentureNote, the interest rate on this Debenture Note shall accrue at an additional interest rate equal to the lesser of 182% per annum month (24% per annum) or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture Note to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture Note until such time, if any, as the Holder receives full payment pursuant to this Section 8(b6(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 9 contracts

Sources: Convertible Security Agreement (Greenhouse Solutions, Inc.), Convertible Security Agreement (Premier Biomedical Inc), Convertible Security Agreement (Mantra Venture Group Ltd.)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this DebentureNote, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture Note to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by H▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture Note until such time, if any, as the Holder receives full payment pursuant to this Section 8(b7(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 9 contracts

Sources: Convertible Security Agreement (Catheter Precision, Inc.), Convertible Security Agreement (Catheter Precision, Inc.), Convertible Security Agreement (QHSLab, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s 's election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 8 contracts

Sources: Convertible Security Agreement (Analytical Surveys Inc), Convertible Security Agreement (Analytical Surveys Inc), Convertible Security Agreement (Analytical Surveys Inc)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by H▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 8 contracts

Sources: Convertible Security Agreement (Rosetta Genomics Ltd.), Convertible Security Agreement (Rosetta Genomics Ltd.), Convertible Security Agreement (PFO Global, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding full principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages together with interest and other amounts owing in respect thereof through thereof, to the date of acceleration, acceleration shall become, at the Holder’s election, immediately due and payable in cash at cash. The aggregate amount payable upon an Event of Default shall be equal to the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest the rate equal to the lesser of 18% per annum annum, or the such lower maximum rate amount of interest permitted to be charged under applicable law. Upon the payment in full of the Mandatory Default Amount, Amount on this entire Debenture the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the The Holder need not provide, provide and the Company hereby waives, waives any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration declaration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a Debenture holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to under this Section 8(b)shall have been received by it. No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 7 contracts

Sources: Convertible Security Agreement (North American Technologies Group Inc /Mi/), Convertible Security Agreement (Viral Genetics Inc /De/), Convertible Security Agreement (TWL Corp)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 1815% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 6 contracts

Sources: Convertible Security Agreement (Sysorex Global), Convertible Security Agreement (T3 Motion, Inc.), Convertible Security Agreement (Pro Pharmaceuticals Inc)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding full principal amount of this DebentureNote, plus accrued but unpaid interest, liquidated damages together with interest and other amounts owing in respect thereof through thereof, to the date of acceleration, acceleration shall become, at the Holder’s election, immediately due and payable in cash at cash. The aggregate amount payable upon an Event of Default shall be equal to the Mandatory Default Prepayment Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this DebentureNote, the interest rate on this Debenture Note shall accrue at an interest the rate equal to the lesser of 18% per annum annum, or the such lower maximum rate amount of interest permitted to be charged under applicable law. Upon All Notes for which the payment full Mandatory Prepayment Amount hereunder shall have been paid in full of the Mandatory Default Amount, the Holder accordance herewith shall promptly surrender this Debenture be surrendered to or as directed by the Company. In connection with such acceleration described herein, the The Holder need not provide, provide and the Company hereby waives, waives any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration declaration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a Note holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to under this Section 8(b)shall have been received by it. No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 6 contracts

Sources: Convertible Security Agreement (Knobias, Inc.), Convertible Security Agreement (Vistula Communications Services, Inc.), Security Agreement (Shea Development Corp.)

Remedies Upon Event of Default. If any Event of Default occurs, then the outstanding principal amount of this DebentureNote, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after After the occurrence of any Event of Default that results in the eventual acceleration of this DebentureNote, the interest rate on this Debenture Note shall accrue at an additional interest rate equal to the lesser of 182% per annum month (24% per annum) or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture Note to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture Note until such time, if any, as the Holder receives full payment pursuant to this Section 8(b6(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 6 contracts

Sources: Convertible Security Agreement (Mobiquity Technologies, Inc.), Convertible Security Agreement (Terra Tech Corp.), Convertible Security Agreement (ECO Building Products, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 1816% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by H▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 6 contracts

Sources: Convertible Security Agreement (FireFly Automatix, Inc.), Convertible Security Agreement (FireFly Automatix, Inc.), Convertible Security Agreement (PLC Systems Inc)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 1810% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 5 contracts

Sources: Convertible Security Agreement (Icad Inc), Convertible Security Agreement (Catasys, Inc.), Convertible Security Agreement (Catasys, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days Trading Days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by H▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 5 contracts

Sources: Securities Purchase Agreement (NextPlat Corp), Securities Purchase Agreement (NextPlat Corp), Securities Purchase Agreement (Progressive Care Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, then, subject to the provisions of Section 5(k) hereof, the outstanding principal amount of this DebentureNote, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after After the occurrence of any Event of Default that results in the eventual acceleration of this DebentureNote, the interest rate on this Debenture Note shall accrue at an additional interest rate equal to the lesser of 18% two percent (2%) per annum month (twenty-four percent (24%) per annum) or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture Note to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture Note until such time, if any, as the Holder receives full payment pursuant to this Section 8(b4(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 5 contracts

Sources: Security Agreement (GlyEco, Inc.), Security Agreement (GlyEco, Inc.), Security Agreement (GlyEco, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this DebentureNote, plus accrued but unpaid interest, liquidated damages interest and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at cash, and the Mandatory Default AmountHolder shall have the rights set forth in Section 3 of the Exchange Agreement. Commencing 5 five days after the occurrence of any Event of Default that results in the eventual acceleration of this DebentureNote, the interest rate on this Debenture Note shall accrue at an interest rate equal to the lesser of 1812% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default AmountCompany’s and the Subsidiary’s obligations under this Note, the Holder shall promptly surrender this Debenture Note to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture Note until such time, if any, as the Holder receives full payment pursuant to this Section 8(b6(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 5 contracts

Sources: Limited Partnership Agreement (SolarMax Technology, Inc.), 4% Secured Subordinated Convertible Note (SolarMax Technology, Inc.), 4% Secured Subordinated Convertible Note (SolarMax Technology, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, then the outstanding principal amount of this DebentureNote, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after After the occurrence of any Event of Default that results in the eventual acceleration of this DebentureNote, the interest rate on this Debenture Note shall accrue at an additional interest rate equal to the lesser of 182% per annum month (24% per annum) or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture Note to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by H▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture Note until such time, if any, as the Holder receives full payment pursuant to this Section 8(b4(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 5 contracts

Sources: Security Agreement (Wynnefield Partners Small Cap Value Lp I), Security Agreement (GlyEco, Inc.), Security Agreement (GlyEco, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 five (5) days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 1815% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by H▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 5 contracts

Sources: Convertible Security Agreement (Ideanomics, Inc.), Convertible Security Agreement (Ideanomics, Inc.), Convertible Security Agreement (Ideanomics, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, the Company shall have thirty (30) days to cure such Event of Default. If following the thirty (30) day period the Event of Default remains, then the outstanding principal amount of this DebentureNote, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 thirty (30) days after the occurrence of any Event of Default that results in the eventual acceleration of this DebentureNote, the interest rate on this Debenture Note shall accrue at an a default rate of interest rate equal to the lesser of 1.5% per month (18% per annum or the maximum rate permitted under applicable lawannum). Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture Note to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture Note until such time, if any, as the Holder receives full payment pursuant to this Section 8(b6(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 4 contracts

Sources: Convertible Security Agreement (Xenetic Biosciences, Inc.), Convertible Security Agreement (Xenetic Biosciences, Inc.), Convertible Security Agreement (Xenetic Biosciences, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 1812% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 4 contracts

Sources: Convertible Security Agreement (Oxis International Inc), Convertible Security Agreement (Mela Sciences, Inc. /Ny), Convertible Security Agreement (UFood Restaurant Group, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding full principal amount of this DebentureNote, plus accrued but unpaid interest, liquidated damages together with interest and other amounts owing in respect thereof through thereof, to the date of acceleration, acceleration shall become, at the Holder’s election, immediately due and payable in cash at cash. The aggregate amount payable upon an Event of Default shall be equal to the Mandatory Default Prepayment Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this DebentureNote, the interest rate on this Debenture Note shall accrue at an interest the rate equal to the lesser of 1820% per annum annum, or the such lower maximum rate amount of interest permitted to be charged under applicable law. Upon All Notes for which the payment full Mandatory Prepayment Amount hereunder shall have been paid in full of the Mandatory Default Amount, the Holder accordance herewith shall promptly surrender this Debenture be surrendered to or as directed by the Company. In connection with such acceleration described herein, the The Holder need not provide, provide and the Company hereby waives, waives any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration declaration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a Note holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to under this Section 8(b)shall have been received by it. No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 4 contracts

Sources: Convertible Security Agreement (U.S. Aerospace, Inc.), Convertible Security Agreement (U.S. Aerospace, Inc.), Convertible Security Agreement (U.S. Aerospace, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding full principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages together with interest and other amounts owing in respect thereof through thereof, to the date of acceleration, acceleration shall become, at the Holder’s election, immediately due and payable in cash at via wire transfer. The aggregate amount payable upon an Event of Default shall be equal to the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest the rate equal to the lesser of 18% per annum annum, or the such lower maximum rate amount of interest permitted to be charged under applicable law. Upon the payment in full of the Mandatory Default Amount, Amount on this entire Debenture the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the The Holder need not provide, provide and the Company hereby waives, waives any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration declaration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a Debenture holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to under this Section 8(b)shall have been received by it. No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 4 contracts

Sources: Convertible Security Agreement (Silverstar Holdings LTD), Convertible Security Agreement (Silverstar Holdings LTD), Convertible Security Agreement (Silverstar Holdings LTD)

Remedies Upon Event of Default. If any Event of Default occurs, then the outstanding principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s electionelection by notice in writing to Company, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after After the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 182% per annum month (24% per annum) or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by H▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b6(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 4 contracts

Sources: Convertible Security Agreement (Vapor Corp.), Convertible Security Agreement (Windstream Technologies, Inc.), Convertible Security Agreement (Windstream Technologies, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding full principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages together with interest and other amounts owing in respect thereof through thereof, to the date of acceleration, acceleration shall become, at the Holder’s election, immediately due and payable in cash at cash. The aggregate amount payable upon an Event of Default shall be equal to the Mandatory Default Prepayment Amount. Commencing 5 15 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest the rate equal to the lesser of 18% per annum annum, or the such lower maximum rate amount of interest permitted to be charged under applicable law. Upon All Debentures for which the payment full Mandatory Prepayment Amount hereunder shall have been paid in full of the Mandatory Default Amount, the Holder accordance herewith shall promptly surrender this Debenture be surrendered to or as directed by the Company. In connection with such acceleration described herein, the The Holder need not provide, provide and the Company hereby waives, waives any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration declaration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a Debenture holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to under this Section 8(b)shall have been received by it. No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 4 contracts

Sources: Convertible Security Agreement (Aprecia Inc), Convertible Security Agreement (Aprecia Inc), Convertible Security Agreement (Aprecia Inc)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ Holder at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the a▇ ▇▇▇ Holder receives full payment pursuant to this Section 8(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 4 contracts

Sources: Convertible Security Agreement (Innovative Card Technologies Inc), Convertible Security Agreement (GuangZhou Global Telecom, Inc.), Securities Agreement (GuangZhou Global Telecom, Inc.)

Remedies Upon Event of Default. If Subject to the Beneficial Ownership Limitation as set forth in Section 4(d), if any Event of Default occurs, then the outstanding principal amount of this DebentureNote, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after After the occurrence of any Event of Default that results in the eventual acceleration of this DebentureNote, the interest rate on this Debenture Note shall accrue at an additional interest rate equal to the lesser of 182% per annum month (24% per annum) or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default AmountNote, the Holder shall promptly surrender this Debenture Note to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by H▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture Note until such time, if any, as the Holder receives full payment pursuant to this Section 8(b6(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 4 contracts

Sources: Convertible Security Agreement (Mphase Technologies Inc), Convertible Security Agreement (EVmo, Inc.), Convertible Security Agreement (Mphase Technologies Inc)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 1816% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 4 contracts

Sources: Convertible Security Agreement (PLC Systems Inc), Convertible Security Agreement (PLC Systems Inc), Convertible Security Agreement (PLC Systems Inc)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding full principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and together with other amounts owing in respect thereof through thereof, to the date of acceleration, acceleration shall become, at the Holder’s election, immediately due and payable in cash at cash. The aggregate amount payable upon an Event of Default shall be equal to the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest the rate equal to the lesser of 18% per annum annum, or the such lower maximum rate amount of interest permitted to be charged under applicable law. Upon the payment in full of the Mandatory Default Amount, Amount on this entire Debenture the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the The Holder need not provide, provide and the Company hereby waives, waives any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration declaration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a Debenture holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to under this Section 8(b)shall have been received by it. No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 4 contracts

Sources: Convertible Security Agreement (Advanced Cell Technology, Inc.), Convertible Security Agreement (Advanced Cell Technology, Inc.), Convertible Security Agreement (Advanced Cell Technology, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding full principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and together with other amounts owing in respect thereof through thereof, to the date of acceleration, acceleration shall become, at the Holder’s election, immediately due and payable in cash at cash. The aggregate amount payable upon an Event of Default shall be equal to the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest the rate equal to the lesser of 18% per annum annum, or the such lower maximum rate amount of interest permitted to be charged under applicable law. Upon the payment in full of the Mandatory Default AmountAmount on this entire Debenture, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the The Holder need not provide, provide and the Company hereby waives, waives any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration declaration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a Debenture holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to under this Section 8(b)shall have been received by it. No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 4 contracts

Sources: Convertible Security Agreement (Fellows Energy LTD), Convertible Security Agreement (Fellows Energy LTD), Convertible Security Agreement (Id-Confirm, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, the Company shall have five (5) days to cure such Event of Default. If following the five day period the Event of Default remains, then the outstanding principal amount of this DebentureNote, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this DebentureNote, the interest rate on this Debenture Note shall accrue at an additional interest rate equal to the lesser of 182% per annum month (24% per annum) or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture Note to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture Note until such time, if any, as the Holder receives full payment pursuant to this Section 8(b6(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 4 contracts

Sources: Convertible Security Agreement (Directview Holdings Inc), Convertible Security Agreement (Directview Holdings Inc), Convertible Security Agreement (Directview Holdings Inc)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding full principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages together with interest and other amounts owing in respect thereof through thereof, to the date of acceleration, acceleration shall become, at the Holder’s 's election, immediately due and payable in cash at cash. The aggregate amount payable upon an Event of Default shall be equal to the Mandatory Default Prepayment Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest the rate equal to the lesser of 18% per annum annum, or the such lower maximum rate amount of interest permitted to be charged under applicable law. Upon All Debentures for which the payment full Mandatory Prepayment Amount hereunder shall have been paid in full of the Mandatory Default Amount, the Holder accordance herewith shall promptly surrender this Debenture be surrendered to or as directed by the Company. In connection with such acceleration described herein, the The Holder need not provide, provide and the Company hereby waives, waives any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration declaration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a Debenture holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to under this Section 8(b)shall have been received by it. No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 3 contracts

Sources: Securities Agreement (Genio Group Inc), Securities Agreement (China Evergreen Environmental CORP), Securities Agreement (Generex Biotechnology Corp)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding full principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages together with interest and other amounts owing in respect thereof through thereof, to the date of acceleration, acceleration shall become, at the Holder’s election, immediately due and payable in cash at cash. The aggregate amount payable upon an Event of Default shall be equal to the Mandatory Default Prepayment Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest the rate equal to the lesser of 18% per annum annum, or the such lower maximum rate amount of interest permitted to be charged under applicable law. Upon All Debentures for which the payment full Mandatory Prepayment Amount hereunder shall have been paid in full of the Mandatory Default Amount, the Holder accordance herewith shall promptly surrender this Debenture be surrendered to or as directed by the Company. In connection with such acceleration described herein, the The Holder need not provide, provide and the Company hereby waives, waives any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration declaration may be rescinded and annulled by H▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a Debenture holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to under this Section 8(b)shall have been received by it. No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 3 contracts

Sources: Convertible Security Agreement (Brillian Corp), Convertible Security Agreement (Brillian Corp), Convertible Security Agreement (Brillian Corp)

Remedies Upon Event of Default. If any Event of Default occursoccurs and is continuing, the outstanding principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, Note shall become, at the Holder’s election, immediately due and payable in cash the Default Amount, and the Holder shall have the right, to convert all or any portion of this Note into Conversion Shares at the Mandatory applicable Conversion Price up to the Maximum Conversion Shares or such number of Conversion Shares based on the then Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration Amount of this DebentureNote, and shall be entitled to exercise its rights and remedies in connection therewith under the interest rate on this Debenture shall accrue at an interest rate equal to other Transaction Documents, including enforcing its rights under the lesser of 18% per annum or the maximum rate permitted under applicable lawSubsidiary Guarantee and Security Agreement. Upon the payment conversion in full of the Mandatory Default AmountAmount in accordance with the terms of this Note, the Holder shall promptly surrender this Debenture Note to or as directed by the Company. In connection with such acceleration or exercise described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by H▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture Note until such time, if any, as the Holder receives full payment pursuant to this Section 8(bsection 5(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 3 contracts

Sources: Junior Secured Convertible Note (Vivakor, Inc.), Junior Secured Convertible Note (Vivakor, Inc.), Junior Secured Convertible Note (Vivakor, Inc.)

Remedies Upon Event of Default. If any Event of Default occursoccurs and is continuing, the outstanding principal amount of this DebentureNote, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this DebentureNote, the interest rate on this Debenture Note shall accrue at an interest rate equal to the lesser of 1810% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture Note to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture Note until such time, if any, as the Holder receives full payment pursuant to this Section 8(b)) or the Event of Default is fully and duly cured to the reasonable satisfaction of the parties. No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 3 contracts

Sources: Convertible Security Agreement (Grom Social Enterprises, Inc.), Convertible Security Agreement (Grom Social Enterprises, Inc.), Convertible Security Agreement (Grom Social Enterprises, Inc.)

Remedies Upon Event of Default. If Subject to the Beneficial Ownership Limitation as set forth in Section 4(d), if any Event of Default occurs, then the outstanding principal amount of this DebentureNote, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after After the occurrence of any Event of Default that results in the eventual acceleration of this DebentureNote, the interest rate on this Debenture Note shall accrue at an additional interest rate equal to the lesser of 18% one and one-half percent (1.5%) per annum month (eighteen percent (18.0%) per annum) or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture Note to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kindkind (other than the Holder’s election to declare such acceleration), and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture Note until such time, if any, as the Holder receives full payment pursuant to this Section 8(b6(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 3 contracts

Sources: Convertible Security Agreement (Delcath Systems, Inc.), Convertible Security Agreement (DPW Holdings, Inc.), Convertible Security Agreement (DPW Holdings, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s 's election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 1812% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 3 contracts

Sources: Convertible Security Agreement (Oxis International Inc), Convertible Security Agreement (Wifimed Holdings Company, Inc.), Convertible Security Agreement (Wifimed Holdings Company, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 1822% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 3 contracts

Sources: Convertible Security Agreement (Dethrone Royalty Holdings, Inc.), Convertible Security Agreement (HyperSpace Communications, Inc.), Convertible Security Agreement (HyperSpace Communications, Inc.)

Remedies Upon Event of Default. If Subject to the Beneficial Ownership Limitation as set forth in Section 4(d), if any Event of Default occurs, then the outstanding principal amount of this DebentureNote, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after After the occurrence of any Event of Default that results in the eventual acceleration of this DebentureNote, the interest rate on this Debenture Note shall accrue at an additional interest rate equal to the lesser of 182% per annum month (24% per annum) or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default AmountNote, the Holder shall promptly surrender this Debenture Note to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture Note until such time, if any, as the Holder receives full payment pursuant to this Section 8(b6(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 3 contracts

Sources: Convertible Security Agreement (Inspire Veterinary Partners, Inc.), Convertible Security Agreement (Inspire Veterinary Partners, Inc.), Convertible Security Agreement (Windtree Therapeutics Inc /De/)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this DebentureNote, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable payable, at the Holders election in cash at the Mandatory Default AmountAmount or in shares of Common Stock at the Mandatory Default Amount at a conversion price equal to 85% of the average of the three lowest VWAPs during the ten (10) consecutive Trading Days ending on the Trading Day that is immediately prior to the applicable date the Mandatory Default Amount is demanded or otherwise due. Commencing 5 five (5) days after the occurrence of any Event of Default that results in the eventual acceleration of this DebentureNote, the interest rate on this Debenture Note shall accrue at an interest rate equal to the lesser of 1810% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture Note to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by H▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture Note until such time, if any, as the Holder receives full payment pursuant to this Section 8(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 3 contracts

Sources: Convertible Security Agreement (Ensysce Biosciences, Inc.), Convertible Security Agreement (Ensysce Biosciences, Inc.), Convertible Security Agreement (Ensysce Biosciences, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 five (5) days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by H▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 3 contracts

Sources: Convertible Security Agreement (xG TECHNOLOGY, INC.), Convertible Security Agreement (xG TECHNOLOGY, INC.), Convertible Security Agreement (SOCIAL REALITY, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 1815% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by H▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon. In the event of an Event of Default specified in Section 8(a)(i), the principal amount of this Debenture shall automatically be increased by 0.5% upon the occurrence of each Event of Default specified in Section 8(a)(i).

Appears in 3 contracts

Sources: Convertible Security Agreement (Toughbuilt Industries, Inc), Convertible Security Agreement (Toughbuilt Industries, Inc), Convertible Security Agreement (Toughbuilt Industries, Inc)

Remedies Upon Event of Default. If Subject to the Beneficial Ownership Limitation as set forth in Section 4(d), if any Event of Default occurs, then the outstanding principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after After the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an additional interest rate equal to the lesser of 182% per annum month (24% per annum) or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by H▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b6(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 3 contracts

Sources: Convertible Security Agreement (Notis Global, Inc.), Convertible Security Agreement (Notis Global, Inc.), Convertible Security Agreement (Notis Global, Inc.)

Remedies Upon Event of Default. If any Event of Default occursshall have occurred, at the Holder’s election, (i) the outstanding principal amount of this DebentureNote, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, become immediately due and payable in cash at the Mandatory Default Amount. Commencing Amount or (ii) commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this DebentureNote, the interest rate on this Debenture Note shall accrue at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture Note to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture Note until such time, if any, as the Holder receives full payment pursuant to this Section 8(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 3 contracts

Sources: Convertible Security Agreement (Ebix Inc), Convertible Security Agreement (Ebix Inc), Convertible Security Agreement (GeoPharma, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, then at the Holder’s election, this Note shall become immediately due and payable in an amount equal to 125% of (i) the outstanding principal amount of this DebentureNote, plus and (ii) accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after After the occurrence of any Event of Default that results in the eventual acceleration of this DebentureNote, the interest rate on this Debenture Note shall accrue at an interest rate equal to the lesser of 182% per annum month (24% per annum) or the maximum rate permitted under applicable lawlaw (with a credit for any “unused” guaranteed interest). Upon the payment in full of the Mandatory Default Amountoutstanding principal amount of this Note, plus accrued but unpaid interest, liquidated damages and other amount owing in respects thereof, the Holder shall promptly surrender this Debenture Note to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ the Holder at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture Note until such time, if any, as the Holder receives full payment pursuant to this Section 8(b6(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 3 contracts

Sources: Convertible Promissory Note (Spectrum Global Solutions, Inc.), Convertible Promissory Note (Mantra Venture Group Ltd.), Convertible Security Agreement (Mantra Venture Group Ltd.)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount Principal Amount of this Debenture, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 3 contracts

Sources: Convertible Security Agreement (Blink Logic Inc.), Convertible Security Agreement (Blink Logic Inc.), Convertible Security Agreement (Blink Logic Inc.)

Remedies Upon Event of Default. If any Event of Default occursoccurs and is continuing, the outstanding principal amount of this Debenture, the Exit Payment, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at cash; provided that such acceleration shall be automatic, without any notice or other action of the Mandatory Required Holders required, in respect of an Event of Default Amountoccurring pursuant to clause (v) of Section 7(a). Commencing 5 days after the occurrence and continuance of any Event of Default that results in the eventual acceleration of this DebentureDefault, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 1818.0% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b7(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 3 contracts

Sources: Securities Purchase Agreement (Blackboxstocks Inc.), Amended and Restated Debenture (Blackboxstocks Inc.), Debenture Agreement (Blackboxstocks Inc.)

Remedies Upon Event of Default. If Subject to the Beneficial Ownership Limitation as set forth in Section 5(d), if any Event of Default occurs, then the outstanding principal amount Principal Amount of this DebentureNote, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable at the Holder’s option, in cash or in shares of Common Stock, at the Mandatory Default Amount. Commencing 5 days after After the occurrence of any Event of Default that results in the eventual acceleration of this DebentureNote, the interest rate on this Debenture Note shall accrue at an interest rate equal to the lesser of 18% per annum the Default Rate or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default AmountAmount in cash or in shares of Common, the Holder shall promptly surrender this Debenture Note to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest protest, or other notice of any kindkind (other than the Holder’s election to declare such acceleration), and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by H▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture this Note until such time, if any, as the Holder receives full payment pursuant to this Section 8(b7(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 3 contracts

Sources: Convertible Security Agreement (Endexx Corp), Convertible Security Agreement (Endexx Corp), Convertible Security Agreement (Endexx Corp)

Remedies Upon Event of Default. If Subject to the Beneficial Ownership Limitation as set forth in Section 4(d), if any Event of Default occurs, then the outstanding principal amount of this DebentureNote, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after After the occurrence of any Event of Default that results in the eventual acceleration of this DebentureNote, the interest rate on this Debenture Note shall accrue at an additional interest rate equal to the lesser of 182% per annum month (24% per annum) or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture Note to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ Holder at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture Note until such time, if any, as the Holder receives full payment pursuant to this Section 8(b6(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 3 contracts

Sources: Securities Purchase Agreement (Lifelogger Technologies Corp), Securities Purchase Agreement (CannaVEST Corp.), Securities Purchase Agreement (CannaVEST Corp.)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by H▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon. Notwithstanding anything herein to the contrary, the Holder shall be required to elect to accelerate hereunder in respect any Event of Default that occurs solely as a result of a Fundamental Transaction within 30 days of the consummation of the applicable Fundamental Transaction.

Appears in 3 contracts

Sources: Convertible Security Agreement (180 Connect Inc.), Convertible Security Agreement (180 Connect Inc.), Convertible Security Agreement (180 Connect Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding full principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages together with interest and other amounts owing in respect thereof through thereof, to the date of acceleration, acceleration shall become, at the Holder’s election, immediately due and payable in cash at cash. The aggregate amount payable upon an Event of Default shall be equal to the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest the rate equal to the lesser of 18% per annum annum, or the such lower maximum rate amount of interest permitted to be charged under applicable law. Upon Concurrently with the payment in full of the Mandatory Default Amount, Amount the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the The Holder need not provide, provide and the Company hereby waives, waives any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration election may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a Debenture holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to under this Section 8(b)shall have been received by it. No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 3 contracts

Sources: Convertible Security Agreement (Arkados Group, Inc.), Convertible Security Agreement (Arkados Group, Inc.), Convertible Security Agreement (Arkados Group, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law, including exercising its rights as a secured creditor with respect to the Collateral under applicable law or in equity. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ Holder at any time prior to payment hereunder and the Holder shall have all rights as a holder Holder of the this Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b). No Section, but no such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 3 contracts

Sources: Convertible Security Agreement (Legacy Education Alliance, Inc.), Convertible Security Agreement (Legacy Education Alliance, Inc.), Senior Secured Convertible Debt Agreement (Legacy Education Alliance, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, then the outstanding principal amount of this DebentureNote, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after After the occurrence of any Event of Default that results in the eventual acceleration of this DebentureNote, the interest rate on this Debenture Note shall accrue at an additional interest rate equal to the lesser of 18% one and one-half percent (1.5%) per annum month (eighteen percent (18.0%) per annum) or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture Note to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kindkind (other than the Holder’s election to declare such acceleration), and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture Note until such time, if any, as the Holder receives full payment pursuant to this Section 8(b6(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon. [Section 7. [Reserved].

Appears in 2 contracts

Sources: Security Agreement (Delcath Systems, Inc.), Security Agreement (Delcath Systems, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, then the outstanding principal amount of this DebentureNote, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s electionelection made during the existence of the Event of Default and within thirty (30) days following the occurrence of the Event of Default, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after After the occurrence of any Event of Default that results in the eventual acceleration of this DebentureNote, the interest rate on this Debenture Note shall accrue at an additional interest rate equal to the lesser of 182% per annum month (24% per annum) or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture Note to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture Note until such time, if any, as the Holder receives full payment pursuant to this Section 8(b6(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 2 contracts

Sources: Convertible Security Agreement (Mobiquity Technologies, Inc.), Convertible Security Agreement (Mobiquity Technologies, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding full principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages together with interest and other amounts owing in respect thereof through thereof, to the date of acceleration, acceleration shall become, at the Holder’s 's election, immediately due and payable in cash at cash. The aggregate amount payable upon an Event of Default shall be equal to the Mandatory Default Prepayment Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest the rate equal to the lesser of 18% per annum annum, or the such lower maximum rate amount of interest permitted to be charged under applicable law. Upon All Debentures for which the payment full Mandatory Prepayment Amount hereunder shall have been paid in full of the Mandatory Default Amount, the Holder accordance herewith shall promptly surrender this Debenture be surrendered to or as directed by the Company. In connection with such acceleration described herein, the The Holder need not provide, provide and the Company hereby waives, waives any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration declaration may be rescinded and annulled by ▇▇▇▇▇▇ Holder at any time prior to payment hereunder and the Holder shall have ha▇▇ all rights as a Debenture holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to under this Section 8(b)shall have been received by it. No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 2 contracts

Sources: Convertible Security Agreement (Secured Services Inc), Securities Agreement (Diomed Holdings Inc)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding full principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages together with interest and other amounts owing in respect thereof through thereof, to the date of acceleration, acceleration shall become, at the Holder’s 's election, immediately due and payable in cash at cash. The aggregate amount payable upon an Event of Default shall be equal to the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest the rate equal to the lesser of 18% per annum annum, or the such lower maximum rate amount of interest permitted to be charged under applicable law. Upon the payment in full of the Mandatory Default Amount, Amount on this entire Debenture the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the The Holder need not provide, provide and the Company hereby waives, waives any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration declaration may be rescinded and annulled by ▇▇▇▇▇▇ Holder at any time prior to payment hereunder and the Holder shall ▇▇▇▇▇ have all rights as a Debenture holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to under this Section 8(b)shall have been received by it. No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 2 contracts

Sources: Convertible Security Agreement (Western Power & Equipment Corp), Convertible Security Agreement (Electronic Sensor Technology, Inc)

Remedies Upon Event of Default. If any Event of Default occursoccurs and is continuing, the outstanding principal amount of this Debenture, the Mandatory Default Amount, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at cash; provided that such acceleration shall be automatic, without any notice or other action of the Mandatory Required Holders required, in respect of an Event of Default Amountoccurring pursuant to clause (v) of Section 8(a). Commencing 5 days after the occurrence and continuance of any Event of Default that results in the eventual acceleration of this DebentureDefault, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 1818.0% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by H▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 2 contracts

Sources: Convertible Security Agreement (NanoVibronix, Inc.), Convertible Security Agreement (NanoVibronix, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this Debenture, plus accrued but unpaid interestplus, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 2 contracts

Sources: Convertible Security Agreement (Sg Blocks, Inc.), Convertible Security Agreement (Sg Blocks, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after ; provided, that such acceleration shall be automatic, without any notice or other action of the occurrence Holder required, in respect of any an Event of Default that results occurring pursuant to clause (v) of Section 8(a). For the avoidance of doubt, in no event shall the eventual acceleration Mandatory Default Amount (or any portion thereof) be payable in shares of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted under applicable lawCommon Stock. Upon the payment in full of the Mandatory Default AmountAmount in cash, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 2 contracts

Sources: Convertible Security Agreement (Intercloud Systems, Inc.), Convertible Security Agreement (Intercloud Systems, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding full principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and together with other amounts owing in respect thereof through thereof, to the date of acceleration, acceleration shall become, at the Holder’s 's election, immediately due and payable in cash at cash. The aggregate amount payable upon an acceleration by reason of an Event of Default shall be equal to the Mandatory Default Prepayment Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest the rate equal to the lesser of 18% per annum annum, or the such lower maximum rate amount of interest permitted to be charged under applicable law. Upon All Debentures for which the payment full Mandatory Prepayment Amount hereunder shall have been paid in full of the Mandatory Default Amount, the Holder accordance herewith shall promptly surrender this Debenture be surrendered to or as directed by the Company. In connection with such acceleration described herein, the The Holder need not provide, provide and the Company hereby waives, waives any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration declaration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a Debenture holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to under this Section 8(b)shall have been received by it. No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 2 contracts

Sources: Convertible Security Agreement (Power 3 Medical Products Inc), Securities Agreement (Power 3 Medical Products Inc)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after upon the occurrence of any Event of Default that results in the eventual acceleration of this DebentureDefault, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 1816% per annum or the maximum rate permitted under applicable lawlaw until such Event of Default is cured, if capable of being cured. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by H▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 2 contracts

Sources: Convertible Security Agreement (Theralink Technologies, Inc.), Convertible Security Agreement (Theralink Technologies, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this DebentureNote, plus accrued but unpaid interest, plus all interest that would have been earned through the one year anniversary of the Original Issue Date if such interest has not yet accrued, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash and shall become convertible into shares of Common Stock at the Mandatory Default Amountlesser of (i) the Conversion Price, and (ii) 70% of the average VWAP for the five Trading Days in the preceding twenty Trading Days that have the lowest VWAP during such period. Commencing 5 five (5) days after the occurrence of any Event of Default that results in the eventual acceleration of this DebentureNote, the interest rate on this Debenture Note shall accrue at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amountamount set forth above, the Holder shall promptly surrender this Debenture Note to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture Note until such time, if any, as the Holder receives full payment pursuant to this Section 8(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 2 contracts

Sources: Convertible Security Agreement (Intercloud Systems, Inc.), Convertible Security Agreement (Intercloud Systems, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding full principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages together with interest and other amounts owing in respect thereof through thereof, to the date of acceleration, acceleration shall become, at the Holder’s 's election, immediately due and payable in cash at cash. The aggregate amount payable upon an Event of Default shall be equal to the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest the rate equal to the lesser of 18% per annum annum, or the such lower maximum rate amount of interest permitted to be charged under applicable law. Upon the payment in full of the Mandatory Default Amount, Amount on this entire Debenture the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the The Holder need not provide, provide and the Company hereby waives, waives any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration declaration may be rescinded and annulled by ▇▇▇▇▇▇ Holder at any time prior to payment hereunder and the Holder shall have all ha▇▇ ▇▇▇ rights as a Debenture holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to under this Section 8(b)shall have been received by it. No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 2 contracts

Sources: Convertible Security Agreement (Western Power & Equipment Corp), Convertible Security Agreement (Practicexpert Inc)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 1824% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 2 contracts

Sources: Convertible Security Agreement (Biovie Inc.), Convertible Security Agreement (Catasys, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 1822% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by H▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 2 contracts

Sources: Security Agreement (Legend Oil & Gas, Ltd.), Security Agreement (Legend Oil & Gas, Ltd.)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this DebentureNote, plus accrued but unpaid interestinterest (including Cash Interest and PIK Interest), liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture Note to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable lawLaw. Such acceleration may be rescinded and annulled by H▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture Note until such time, if any, as the Holder receives full payment pursuant to this Section 8(b7(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 2 contracts

Sources: Convertible Security Agreement (Health-Right Discoveries, Inc.), Convertible Security Agreement (Health-Right Discoveries, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding full principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages together with interest and other amounts owing in respect thereof through thereof, to the date of acceleration, acceleration shall become, at the Holder’s election, immediately due and payable in cash at cash. The aggregate amount payable upon an Event of Default shall be equal to the Mandatory Default Prepayment Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest the rate equal to the lesser of 1815% per annum annum, or the such lower maximum rate amount of interest permitted to be charged under applicable law. Upon All Debentures for which the payment full Mandatory Prepayment Amount hereunder shall have been paid in full of the Mandatory Default Amount, the Holder accordance herewith shall promptly surrender this Debenture be surrendered to or as directed by the Company. In connection with such acceleration described herein, the The Holder need not provide, provide and the Company hereby waives, waives any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration declaration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a Debenture holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to under this Section 8(b)shall have been received by it. No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 2 contracts

Sources: Convertible Security Agreement (Cybra Corp), Convertible Security Agreement (Cybra Corp)

Remedies Upon Event of Default. If any Event of Default occursoccurs and is then uncured, the outstanding principal amount Holder shall have the right to declare an Event of this DebentureDefault, in which case the Debentures subject to such declaration, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 2 contracts

Sources: Exhibit A (Octavian Global Technologies, Inc.), Convertible Security Agreement (Octavian Global Technologies, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, then at the Holder’s election, the outstanding principal amount of this DebentureNote, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, become immediately due and payable in cash at the Mandatory Default Amountpayable. Commencing 5 days after After the occurrence of any Event of Default that results in the eventual acceleration of this DebentureNote, the interest rate on this Debenture Note shall accrue at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company(with a credit for any “unused” guaranteed interest). In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ the Holder at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture Note until such time, if any, as the Holder receives full payment pursuant to this Section 8(b6(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 2 contracts

Sources: Senior Secured Convertible Note (Elicio Therapeutics, Inc.), Senior Secured Convertible Promissory Note (Dyadic International Inc)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ Holder at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 2 contracts

Sources: Securities Purchase Agreement (Rennova Health, Inc.), Securities Purchase Agreement (Rennova Health, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this DebentureNote, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable payable, at the Holders election in cash at the Mandatory Default AmountAmount or in shares of Common Stock at the Mandatory Default Amount at a conversion price equal to 85% of the average of the three lowest VWAPs during the ten (10) consecutive Trading Days ending on the Trading Day that is immediately prior to the applicable date the Mandatory Default Amount is demanded or otherwise due. Commencing 5 ten (10) days after the occurrence of any Event of Default that results in the eventual acceleration of this DebentureNote, the interest rate on this Debenture Note shall accrue at an interest rate equal to the lesser of 1810% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture Note to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by H▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture Note until such time, if any, as the Holder receives full payment pursuant to this Section 8(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 2 contracts

Sources: Convertible Security Agreement (Digital Ally, Inc.), Convertible Security Agreement (Isun, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding full principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages together with interest and other amounts owing in respect thereof through thereof, to the date of acceleration, acceleration shall become, at the Holder’s 's election, immediately due and payable in cash at cash. The aggregate amount payable upon an Event of Default shall be equal to the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest the rate equal to the lesser of 18% per annum annum, or the such lower maximum rate amount of interest permitted to be charged under applicable law. Upon Concurrently with the payment in full of the Mandatory Default Amount, Amount the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the The Holder need not provide, provide and the Company hereby waives, waives any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration election may be rescinded and annulled by ▇▇▇▇▇▇ Holder at any time prior to payment hereunder and the Holder shall ▇▇▇▇▇ have all rights as a Debenture holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to under this Section 8(b)shall have been received by it. No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 2 contracts

Sources: Convertible Security Agreement (Cdknet Com Inc), Convertible Security Agreement (Cdknet Com Inc)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages interest and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 five (5) days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 1815% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 2 contracts

Sources: Debenture Agreement (UAS Drone Corp.), Debenture Agreement (UAS Drone Corp.)

Remedies Upon Event of Default. If Subject to the Beneficial Ownership Limitation as set forth in Section 5, if any Event of Default occurs, then the outstanding principal amount Principal Amount of this Debenture, plus accrued but unpaid interestNote, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s electionelection by written notice to the Company, immediately due and payable at the Holder’s option, either (i) in cash at in the amount of the Mandatory Default Amount. Commencing 5 days after , or (ii) by delivery to the occurrence Holder of any Event a number of Default that results in the eventual acceleration shares of this Debenture, the interest rate on this Debenture shall accrue at an interest rate Common Stock equal to the lesser of 18% per annum or Mandatory Default Amount divided by the maximum rate permitted under applicable lawConversion Price. Upon the payment in full of the Mandatory Default AmountAmount in cash or in shares of Common Stock, the Holder shall promptly surrender this Debenture Note to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kindkind (other than the Holder’s election to declare such acceleration), and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by H▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture this Note until such time, if any, as the Holder receives full payment pursuant to this Section 8(b9(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 2 contracts

Sources: Convertible Note (Safety Shot, Inc.), Convertible Note (Safety Shot, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding full principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages together with interest and other amounts owing in respect thereof through thereof, to the date of acceleration, acceleration shall become, at the Holder’s 's election, immediately due and payable in cash at cash. The aggregate amount payable upon an Event of Default shall be equal to the Mandatory Default Prepayment Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest the rate equal to the lesser of 18% per annum annum, or the such lower maximum rate amount of interest permitted to be charged under applicable law. Upon All Debentures for which the payment full Mandatory Prepayment Amount hereunder shall have been paid in full of the Mandatory Default Amount, the Holder accordance herewith shall promptly surrender this Debenture be surrendered to or as directed by the Company. In connection with such acceleration described herein, the The Holder need not provide, provide and the Company hereby waives, waives any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration declaration may be rescinded and annulled by ▇▇▇▇▇▇ Holder at any time prior to payment hereunder and the Holder shall have all rights as a Debenture holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to under this Section 8(b)shall have been received by it. No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 2 contracts

Sources: Securities Purchase Agreement (Composite Technology Corp), Securities Purchase Agreement (Composite Technology Corp)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 2 contracts

Sources: Convertible Security Agreement (Oxis International Inc), Convertible Security Agreement (Advanced Cell Technology, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ Holder at any time prior to payment hereunder and the Holder shall have all rights as a holder Holder of the this Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b). No Section, but no such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 2 contracts

Sources: Convertible Security Agreement (Legacy Education Alliance, Inc.), Convertible Security Agreement (Legacy Education Alliance, Inc.)

Remedies Upon Event of Default. If any Event of Default occursoccurs and is continuing, the outstanding principal amount of this Debenture, the Mandatory Default Amount, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at cash; provided that such acceleration shall be automatic, without any notice or other action of the Mandatory Required Holders required, in respect of an Event of Default Amountoccurring pursuant to clause (v) of Section 8(a). Commencing 5 days after the occurrence and continuance of any Event of Default that results in the eventual acceleration of this DebentureDefault, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 1818.0% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 2 contracts

Sources: Convertible Security Agreement (Blackboxstocks Inc.), Securities Purchase Agreement (Blackboxstocks Inc.)

Remedies Upon Event of Default. If Subject to the Beneficial Ownership Limitation as set forth in Section 3(a), if any Event of Default occurs, then the outstanding principal amount of this DebentureNote, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after After the occurrence of any Event of Default that results in the eventual acceleration of this DebentureNote, the interest rate on this Debenture Note shall accrue at an additional interest rate equal to the lesser of 182% per annum month (24% per annum) or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture Note to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture Note until such time, if any, as the Holder receives full payment pursuant to this Section 8(b3(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 2 contracts

Sources: Securities Agreement (APT Systems Inc), Securities Agreement (Eventure Interactive, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding full principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and together other amounts owing in respect thereof through thereof, to the date of acceleration, acceleration shall become, at the Holder’s election, immediately due and payable in cash at cash. The aggregate amount payable upon an Event of Default shall be equal to the Mandatory Default Prepayment Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest the rate equal to the lesser of 18% per annum annum, or the such lower maximum rate amount of interest permitted to be charged under applicable law. Upon All Debentures for which the payment full Mandatory Prepayment Amount hereunder shall have been paid in full of the Mandatory Default Amount, the Holder accordance herewith shall promptly surrender this Debenture be surrendered to or as directed by the Company. In connection with such acceleration described herein, the The Holder need not provide, provide and the Company hereby waives, waives any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration declaration may be rescinded and annulled by ▇▇▇▇▇▇ Holder at any time prior to payment hereunder and the Holder shall have all rights as a Debenture holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to under this Section 8(b)shall have been received by it. No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 2 contracts

Sources: Securities Purchase Agreement (Hartville Group Inc), Securities Purchase Agreement (Hartville Group Inc)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on then this Debenture shall bear interest which shall accrue at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted under applicable law, which shall be paid in cash or subject to Section 4(d) at the Holder’s election in shares of Common Stock or (at Holder’s election) a combination thereof. In the event that the Holder elects to receive shares of Common Stock in payment of the amounts due pursuant to this Section then Holder shall give the Company notice of such election as soon as practicable after such amount is due. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 2 contracts

Sources: Convertible Security Agreement (Lithium Exploration Group, Inc.), Convertible Security Agreement (Lithium Exploration Group, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after ; provided, that such acceleration shall be automatic, without any notice or other action of the occurrence Holder required, in respect of any an Event of Default that results occurring pursuant to clause (vi) of Section 7(a). For the avoidance of doubt, in no event shall the eventual acceleration Mandatory Default Amount be payable in shares of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted under applicable lawCommon Stock. Upon the payment in full of the Mandatory Default AmountAmount in cash, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b7(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 2 contracts

Sources: Securities Agreement (JRjr33, Inc.), Security Agreement (Galena Biopharma, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this Debenture, plus accrued but unpaid interestliquidated damages, liquidated damages interest and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 2 contracts

Sources: Convertible Security Agreement (Nutracea), Convertible Security Agreement (Nutracea)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding full principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages together with interest and other amounts owing in respect thereof through thereof, to the date of acceleration, acceleration shall become, at the Holder’s 's election, immediately due and payable in cash at cash. The aggregate amount payable upon an Event of Default shall be equal to the Mandatory Default Prepayment Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest the rate equal to the lesser of 1816% per annum annum, or the such lower maximum rate amount of interest permitted to be charged under applicable law. Upon All Debentures for which the payment full Mandatory Prepayment Amount hereunder shall have been paid in full of the Mandatory Default Amount, the Holder accordance herewith shall promptly surrender this Debenture be surrendered to or as directed by the Company. In connection with such acceleration described herein, the The Holder need not provide, provide and the Company hereby waives, waives any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration declaration may be rescinded and annulled by ▇▇▇▇▇▇ Holder at any time prior to payment hereunder and the Holder shall have sha▇▇ ▇▇▇e all rights as a Debenture holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to under this Section 8(b)shall have been received by it. No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 2 contracts

Sources: Convertible Security Agreement (Edentify, Inc.), Convertible Security Agreement (Edentify, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding full principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages together with interest and other amounts owing in respect thereof through thereof, to the date of acceleration, acceleration shall become, at the Holder’s 's election, immediately due and payable in cash at cash. The aggregate amount payable upon an Event of Default shall be equal to the Mandatory Default Prepayment Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest the rate equal to the lesser of 18% per annum annum, or the such lower maximum rate amount of interest permitted to be charged under applicable law. Upon All Debentures for which the payment full Mandatory Prepayment Amount hereunder shall have been paid in full of the Mandatory Default Amount, the Holder accordance herewith shall promptly surrender this Debenture be surrendered to or as directed by the CompanyBorrowers. In connection with such acceleration described herein, the The Holder need not provide, provide and the Company Borrowers hereby waives, waive any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration declaration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a Debenture holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to under this Section 8(b)shall have been received by it. No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 2 contracts

Sources: Security Agreement (Able Energy Inc), Securities Agreement (Able Energy Inc)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇Ho▇▇▇▇ at ▇t any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 2 contracts

Sources: Convertible Security Agreement (Protea Biosciences Group, Inc.), Convertible Security Agreement (Wizard World, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 1812% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by H▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 2 contracts

Sources: Convertible Security Agreement (Mela Sciences, Inc. /Ny), Convertible Security Agreement (Oxis International Inc)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s electionelection and upon notice thereof to the Company, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 five (5) days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 2 contracts

Sources: Convertible Security Agreement (SCOLR Pharma, Inc.), Convertible Security Agreement (SCOLR Pharma, Inc.)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 1815% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by H▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 2 contracts

Sources: Convertible Security Agreement (Future Healthcare of America), Convertible Security Agreement (Solomon Technologies Inc)

Remedies Upon Event of Default. If any Event of Default occursoccurs and is continuing, the outstanding full principal amount of this DebentureNote, plus accrued but unpaid interest, liquidated damages together with interest and other amounts owing in respect thereof through thereof, to the date of acceleration, acceleration shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amountcash. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this DebentureNote, the interest rate on this Debenture Note shall accrue at an interest the rate equal to the lesser of 1815% per annum annum, or the such lower maximum rate amount of interest permitted to be charged under applicable law. Upon the payment When this Note shall have been paid in full of the Mandatory Default Amountin accordance herewith, the Holder shall promptly surrender this Debenture Note to or as directed by the Company. In connection with such acceleration described herein, the The Holder need not provide, provide and the Company hereby waives, waives any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration declaration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a Note holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to under this Section 8(b)shall have been received by it. No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 2 contracts

Sources: Securities Agreement (Cyberdefender Corp), Securities Agreement (Cyberdefender Corp)

Remedies Upon Event of Default. If any Event of Default occurs, then the outstanding principal amount of this Debenture, plus accrued but unpaid interest (including, without limitation, any unpaid guaranteed interest), liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s electionelection by notice in writing to Company, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after After the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 182% per annum month (24% per annum) or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by H▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b6(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 2 contracts

Sources: Convertible Security Agreement (PF Hospitality Group, Inc.), Convertible Security Agreement (PF Hospitality Group, Inc.)

Remedies Upon Event of Default. If Subject to the A▇▇▇▇▇ Intercreditor Agreement, if any Event of Default occurs, the outstanding principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 1812% per annum or the maximum rate permitted under applicable law. Accrued and unpaid default interest shall be paid by the Company in cash in arrears on the first day of each calendar month. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ Holder at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 8(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 2 contracts

Sources: Security Agreement (Capital Growth Systems Inc /Fl/), Security Agreement (Capital Growth Systems Inc /Fl/)

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this DebentureNote, plus accrued but unpaid interest, liquidated damages interests and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s 's election, immediately due and payable in cash at the Mandatory Default Amountcash. Commencing 5 on the Maturity Date and also five (5) days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture Note shall accrue at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted under applicable law10%. Upon the payment in full of the Mandatory Default Amountfull, the Holder shall promptly surrender this Debenture Note to or as directed by the Company▇▇▇▇▇▇▇▇. In connection with such acceleration described herein, the Holder need not provide, and the Company Borrower hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by ▇▇▇▇▇▇ at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture Note until such time, if any, as the Holder receives full payment pursuant to this Section 8(b7(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

Appears in 2 contracts

Sources: Convertible Security Agreement (Avant Diagnostics, Inc), Convertible Security Agreement (Avant Diagnostics, Inc)