Common use of Acceleration on Event of Default Clause in Contracts

Acceleration on Event of Default. If an Event of Default shall occur and be continuing, the unpaid balance of the Principal Amount, and all accrued interest and all other amounts payable under this Convertible Debenture may be declared by the Holder on written notice to the Corporation to be, and upon such notice shall become, immediately due and payable. Upon the payment in full of the aftorementioned amounts, the Holder shall promptly surrender this Convertible Debenture to or as directed by the Corporation.

Acceleration on Event of Default. If an Event of Default shall occur and be continuing, the unpaid balance of the Principal Amount, and all accrued interest and all other amounts payable under this Convertible Debenture Note may be declared by the Holder on written notice to the Corporation to be, and upon such notice the unpaid balance of the Principal Amount, accrued interest and all other amounts payable hereunder shall become, become immediately due and payable. Upon the payment in full , without presentment, demand, protest or notice of the aftorementioned amountspresentment or demand, the Holder shall promptly surrender this Convertible Debenture to or as directed all of which are hereby waived by the Corporation.