Default and Remedies. (a) If an Event of Default occurs, then in each such case the Secured Party may declare the Obligations to be due and payable immediately, by a notice in writing to the Company, and upon any such declaration, the Obligations shall become immediately due and payable.
Appears in 135 contracts
Samples: Security Agreement (Nuevo Financial Center, Inc.), Security Agreement (Ignis Petroleum Group, Inc.), Subsidiary Security Agreement (Aerotelesis Inc)
Default and Remedies. (a) If an Event of Default occurs, then in each such case the Secured Party may declare the Obligations to be due and payable immediately, by a notice in writing to the Company, and upon any such declaration, the Obligations shall become immediately due and payable. If an Event of Default occurs and is continuing for the period set forth therein, then the Obligations shall automatically become immediately due and payable without declaration or other act on the part of the Secured Party.
Appears in 25 contracts
Samples: Security Agreement (Megola Inc), Security Agreement (Adventure Energy, Inc.), Security Agreement (Hyperdynamics Corp)
Default and Remedies. (a) If an Event of Default occursoccurs and is continuing, then in each such case the Secured Party may declare the Obligations to be due and payable immediately, by a notice in writing to the Company, and upon any such declaration, the Obligations shall become immediately due and payable.
Appears in 3 contracts
Samples: Security Agreement (Barnabus Energy, Inc.), Security Agreement (Barnabus Energy, Inc.), Security Agreement (Startech Environmental Corp)
Default and Remedies. (a) If an Event of Default occursoccurs and after any applicable cure or grace period, then in each such case the Secured Party may declare the Obligations to be due and payable immediately, by a notice in writing to the Company, and upon any such declaration, the Obligations shall become immediately due and payable.
Appears in 3 contracts
Samples: Security Agreement (Isonics Corp), Security Agreement (Isonics Corp), Security Agreement (Isonics Corp)
Default and Remedies. (a) If an Event of Default described in Section 2.2(c) occurs, then in each such case the Secured Party may declare the Obligations to be due and payable immediately, by a notice in writing to the Company, and upon any such declaration, the Obligations shall become immediately due and payable.
Appears in 2 contracts
Samples: Security Agreement (Headliners Entertainment Group, Inc.), Security Agreement (Cedric Kushner Promotions Inc)
Default and Remedies. (a) If an Event of Default occursoccurs under the Convertible Debentures, and after the any applicable cure or grace period, then in each such case the Secured Party may declare the Obligations to be due and payable immediately, by a notice in writing to the Company, and upon any such declaration, the Obligations shall become immediately due and payable.
Appears in 1 contract
Samples: Security Agreement (Isonics Corp)
Default and Remedies. (a) If an Event of Default occurs, then in each such case the Secured Party Party, subject to the senior security interests of the Senior Lenders,, may declare the Obligations to be due and payable immediately, by a notice in writing to the Company, and upon any such declaration, the Obligations shall become immediately due and payable.
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Default and Remedies. (a) If an Event of Default occursoccurs and is continuing , then in each such case the Secured Party may declare the Obligations to be due and payable immediately, by a notice in writing to the Company, and upon any such declaration, the Obligations shall become immediately due and payable.
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Default and Remedies. (a) If an Event of Default occurs, then in each such case the Secured Party may declare the Obligations to be due and payable immediately, by a notice in writing to the CompanyCompanies, and upon any such declaration, the Obligations shall become immediately due and payable.
Appears in 1 contract
Samples: Security Agreement (Cargo Connection Logistics Holding, Inc.)
Default and Remedies. (a) If an Event of Default occurs, then in each such case the Secured Party may declare the Obligations to be due and payable immediately, by a notice in writing to the Company, and upon any such declaration, after giving the Company seven (7) business days to cure said Event of Default, the Obligations shall become immediately due and payable. If an Event of Default occurs and is continuing for the period set forth therein, then the Obligations shall automatically become immediately due and payable without declaration or other act on the part of the Secured Party.
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