Default by GHS Sample Clauses


Default by GHS. In the event GHS converts more than $14,000 of amounts owed under this Note per week, or sells, trades, transfers, or otherwise disposes of more than $2,800 worth of amounts owed and converted into shares per any given day, then GHS shall be in default of its obligations of this Note and any remaining balance of the Note shall be forfeited and cancelled; provided, however, that this Section 7(b) shall not apply in the case of any action taken by GHS as a result of any misinformation given by the Company, its Transfer Agent, or any other third party.