Default Amount. If an Event of Default occurs and is continuing beyond any applicable grace period, the Holder, at its option, may elect, in addition to all rights and remedies of Holder to require the Borrower to add a default amount to then outstanding principal amount of the Amended and Restated Note plus accrued but unpaid interest, including any default interest, and all other fees then remaining unpaid, and all other amounts payable (“Default Amount”). The Default Payment shall be the then outstanding principal amount of the Amended and Restated Note plus accrued but unpaid interest, including any default interest, and all other fees then remaining unpaid, and all other amounts payable hereunder multiplied by 25% and which amount shall be added to the then outstanding principal amount of the Amended and Restated Note plus accrued but unpaid interest, including any default interest, and all other fees then remaining unpaid, and all other amounts payable. The sum of the then outstanding principal amount of the Amended and Restated Note plus accrued but unpaid interest, including any default interest, and all other fees then remaining unpaid, and all other amounts payable and the Default Amount shall be default payment amount and shall be the entire amount due and payable. The Default Payment shall be applied first to any fees due and payable to Holder pursuant to the Amended and Restated Note, then to accrued and unpaid interest due on the Amended and Restated Note and then to outstanding principal balance of the Note.
Default Amount. 11 Defeasance............................................................. 11 Depository............................................................. 11 Disinterested Member of the Board of Directors of the Company.......... 11
Default Amount. If any Event of Default in Section 8(a)(v) 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 immediately due and payable in cash at the Mandatory Default Amount. Commencing 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 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.
Default Amount. 7 -------------------------- Note: This table of contents shall not, for any purpose, be deemed to be a part of the Indenture.
Default Amount. Notwithstanding clause 44.3, without limiting clause 45.1.3 and despite any other clause in this Deed, if this Deed is terminated pursuant to either 44.2.5 or 45.1, Council will be entitled to be paid, and the Developer must pay to Council, the Default Amount within 20 Business Days from the date of such termination.
Default Amount. 13 Depositary........................................................13
Default Amount. 13 Defeasance....................................................... 13
Default Amount. $______ (c) Letter of Credit and Repurchase Letter of Credit Banks . . . . $______ (d) Total deductions . . . . . $________
Default Amount. Upon the occurrence and during the continuation of an Event of Default specified in this Article III, the Note shall become immediately due and payable and the Borrower shall pay to the Holder an amount equal to the Default Amount (as defined below) effective immediately in full satisfaction of its obligations hereunder, an amount equal to (w) the then outstanding principal amount of this Note plus (x) accrued and unpaid interest on the unpaid principal amount of this Note to the date of payment plus (y) the sum of $300,000 plus (z) Default Interest, if any, on the amounts referred to in clauses (w), (x) and/or (y) (the amounts referred to in clauses (w), (x), (y) and (z) shall collectively be known as the “Default Amount”) and all other amounts payable hereunder shall immediately become due and payable, all without demand, presentment or notice, all of which hereby are expressly waived, together with all costs, including, without limitation, legal fees and expenses, of collection, and the Holder shall be entitled to exercise all other rights and remedies available in binding arbitration.
Default Amount. Parent and Merger Sub shall be liable to the -------------- Company for liabilities and damages resulting from, and the Company acknowledges and agrees that Parent and Merger Sub shall be liable to it hereunder only for, willful and material breaches of this Agreement; provided, however, that in no -------- ------- event shall the liability of Parent and Merger Sub arising out of or relating to any such breaches exceed an aggregate of $70 million (the "Default Amount"), -------------- which amount is deposited in cash and/or letters of credit as of the date hereof in the Escrow Account (as defined in the Equity Contribution Agreement) pursuant to the terms of the escrow agreement contemplated by the Equity Contribution Agreement, and provided, further, that under no circumstances shall any investor in, or advisor to, Parent or Merger Sub have any liability to the Company arising out of or relating to any breaches of this Agreement.
