Default at Maturity Sample Clauses
Default at Maturity. In the event that Executive fails to pay any outstanding principal and interest at maturity (other than maturity in respect of an acceleration event), if the holder of the note does not elect to extend the maturity date, the holder shall be entitled to foreclose on a number of shares of Common Stock securing the note equal to the aggregate amount of unpaid principal and interest divided by the “Fair Market Value” of such shares, determined in accordance with Section 4.13(e) of the Stockholders Agreement.
Default at Maturity. If the Company fails to satisfy all amounts due under the Secured Promissory Note(s) at the Maturity Date, the Investor shall thereafter have the option to convert the entire amount of the outstanding principal amount, Exit Fee (as defined in the Promissory Notes), and all accrued interest under the Secured Promissory Notes on the terms set forth herein, provided that such right to convert shall terminate if and to the extent the Company thereafter satisfies such obligations.