Default Payment Date and Default Notice Period. The Default Payment shall be due and payable on the fifth business day after the date written notice is sent from the Holder to the Borrower of an Event of Default as defined in Article IV (“Default Payment Date”). The period between the date of the written notice from the Holder to the Borrower of an Event of Default and the Default Payment Date shall be the “Default Notice Period.” If during the Default Notice Period, the Borrower cures the Event of Default, the Event of Default will no longer exist and any rights the Holder had pertaining to the Event of Default will no longer exist. If the Event of Default is not cured during the Default Notice Period, all amounts payable hereunder shall be due and payable on the Default Payment Date, all without further demand, presentment or notice, or grace period, all of which hereby are expressly waived.
Appears in 5 contracts
Samples: Security Agreement (Electric City Corp), Secured Revolving Convertible Note (Digital Angel Corp), Digital Angel Corp
Default Payment Date and Default Notice Period. The Default Payment shall be due and payable on the fifth business day after the date written notice is sent from the Holder to the Borrower of an Event of Default as defined in Article IV (“Default Payment Date”)"DEFAULT PAYMENT DATE") has occurred and is continuing beyond any applicable grace period. The period between the date of the written notice from the Holder to the Borrower upon which of an Event of Default has occurred and is continuing beyond any applicable grace period and the Default Payment Date shall be the “Default Notice Period"DEFAULT PERIOD.” " If during the Default Notice Period, the Borrower cures the Event of Default, the Event of Default will no longer exist and any additional rights the Holder had pertaining to triggered by the occurrence and continuance of an Event of Default will no longer exist. If the Event of Default is not cured during the Default Notice Period, all amounts payable hereunder shall be due and payable on the Default Payment Date, all without further demand, presentment or notice, or grace period, all of which hereby are expressly waived.
Appears in 2 contracts
Samples: Transgenomic Inc, Transgenomic Inc
Default Payment Date and Default Notice Period. The Default Payment shall be due and payable on the fifth business day after the date written notice is sent from the Holder to the Borrower of an Event of Default as defined in Article IV III (“Default Payment Date”)"DEFAULT PAYMENT DATE") has occurred and is continuing beyond any applicable grace period. The period between the date of the written notice from the Holder to the Borrower upon which of an Event of Default has occurred and is continuing beyond any applicable grace period and the Default Payment Date shall be the “Default Notice Period"DEFAULT PERIOD.” " If during the Default Notice Period, the Borrower cures the Event of Default, the Event of Default will no longer exist and any additional rights the Holder had pertaining to triggered by the occurrence and continuance of an Event of Default will no longer exist. If the Event of Default is not cured during the Default Notice Period, all amounts payable hereunder shall be due and payable on the Default Payment Date, all without further demand, presentment or notice, or grace period, all of which hereby are expressly waived.
Appears in 2 contracts
Samples: Global Payment Technologies Inc, Ventures National Inc
Default Payment Date and Default Notice Period. The Default Payment shall be due and payable on the fifth business day after the date written notice is sent from the Holder to the Borrower of an Event of Default as defined in Article IV (“"Default Payment Date”)") has occurred and is continuing beyond any applicable grace period. The period between the date of the written notice from the Holder to the Borrower upon which of an Event of Default has occurred and is continuing beyond any applicable grace period and the Default Payment Date shall be the “"Default Notice Period.” " If during the Default Notice Period, the Borrower cures the Event of Default, the Event of Default will no longer exist and any additional rights the Holder had pertaining to triggered by the occurrence and continuance of an Event of Default will no longer exist. If the Event of Default is not cured during the Default Notice Period, all amounts payable hereunder shall be due and payable on the Default Payment Date, all without further demand, presentment or notice, or grace period, all of which hereby are expressly waived.
Appears in 2 contracts
Samples: Veridium Corp, Veridium Corp
Default Payment Date and Default Notice Period. The Default Payment shall be due and payable on the fifth business day after the an Event of Default ("DEFAULT PAYMENT DATE") has occurred and is continuing beyond any applicable grace period. The period between date written notice is sent from the Holder to the Borrower upon which of an Event of Default as defined in Article IV (“Default Payment Date”). The has occurred and is continuing beyond any applicable grace period between the date of the written notice from the Holder to the Borrower of an Event of Default and the Default Payment Date shall be the “Default Notice Period"DEFAULT PERIOD.” " If during the Default Notice Period, the Borrower cures the Event of Default, the Event of Default will no longer exist and any additional rights the Holder had pertaining to triggered by the occurrence and continuance of an Event of Default will no longer exist. If the Event of Default is not cured during the Default Notice Period, all amounts payable hereunder shall be due and payable on the Default Payment Date, all without further demand, presentment or notice, or grace period, all of which hereby are expressly waived.
Appears in 2 contracts
Samples: Gvi Security Solutions Inc, Gvi Security Solutions Inc
Default Payment Date and Default Notice Period. The Default Payment shall be due and payable on the fifth business day after the date written notice is sent from the Holder to the Borrower of an Event of Default as defined in Article IV III (“Default Payment Date”)) has occurred and is continuing beyond any applicable grace period. The period between the date of the written notice from the Holder to the Borrower upon which of an Event of Default has occurred and is continuing beyond any applicable grace period and the Default Payment Date shall be the “Default Notice Period.” If during the Default Notice Period, the Borrower cures the Event of Default, the Event of Default will no longer exist and any additional rights the Holder had pertaining to triggered by the occurrence and continuance of an Event of Default will no longer exist. If the Event of Default is not cured during the Default Notice Period, all amounts payable hereunder shall be due and payable on the Default Payment Date, all without further demand, presentment or notice, or grace period, all of which hereby are expressly waived.
Appears in 2 contracts
Samples: Secured Revolving Note (Micro Component Technology Inc), Artemis International Solutions Corp
Default Payment Date and Default Notice Period. The Default Payment shall be due and payable on the fifth business day after the date written notice is sent from the Holder to the Borrower of an Event of Default as defined in Article IV (“Default Payment Date”"DEFAULT PAYMENT DATE"). The period between the date of the written notice from the Holder to the Borrower of an Event of Default and the Default Payment Date shall be the “Default Notice Period"DEFAULT NOTICE PERIOD.” " If during the Default Notice Period, the Borrower cures the Event of Default, the Event of Default will no longer exist and any rights the Holder had pertaining to the Event of Default will no longer exist. If the Event of Default is not cured during the Default Notice Period, all amounts payable hereunder shall be due and payable on the Default Payment Date, all without further demand, presentment or notice, or grace period, all of which hereby are expressly waived.
Appears in 1 contract
Samples: Cardiogenesis Corp /Ca
Default Payment Date and Default Notice Period. The Default Payment shall be due and payable on the fifth business day after the date written notice is sent from the Holder to the Borrower of an Event of Default as defined in Article IV III (“Default Payment Date”)) has occurred and is continuing beyond any applicable grace period. The period between the date of the written notice from the Holder to the Borrower upon which of an Event of Default has occurred and is continuing beyond any applicable grace period and the Default Payment Date shall be the “Default Notice Period.” If during the Default Notice Period, the Borrower cures the Event of Default, the Event of Default will no longer exist and any additional rights the Holder had pertaining to triggered by the occurrence and continuance of an Event of Default will no longer exist, including, without limitation, the right to receive the Default Payment. If the Event of Default is not cured during the Default Notice Period, all amounts payable hereunder shall be due and payable on the Default Payment Date, all without further demand, presentment or notice, or grace period, all of which hereby are expressly waived.
Appears in 1 contract
Samples: DSL Net Inc
Default Payment Date and Default Notice Period. The Default Payment shall be due and payable on the fifth eleventh (11th) business day after the date written notice is sent from the Holder to the Borrower of an Event of Default as defined in Article IV (“Default Payment Date”"DEFAULT PAYMENT DATE"). The period between the date of the written notice from the Holder to the Borrower of an Event of Default and the Default Payment Date shall be the “Default Notice Period"DEFAULT NOTICE PERIOD.” " If during the Default Notice Period, the Borrower cures the Event of Default, the Event of Default will no longer exist and any rights the Holder had pertaining to the Event of Default will no longer exist. If the Event of Default is not cured during the Default Notice Period, all amounts payable hereunder shall be due and payable on the Default Payment Date, all without further demand, presentment or notice, or grace period, all of which hereby are expressly waived.
Appears in 1 contract
Samples: Spacedev Inc
Default Payment Date and Default Notice Period. The Default Payment shall be due and payable on the fifth business day after the date written notice is sent from the Holder to the Borrower of an Event of Default as defined in Article IV (“Default Payment Date”)) has occurred and is continuing beyond any applicable grace period. The period between the date of the written notice from the Holder to the Borrower upon which of an Event of Default has occurred and is continuing beyond any applicable grace period and the Default Payment Date shall be the “Default Notice Period.” If during the Default Notice Period, the Borrower cures the Event of Default, the Event of Default will no longer exist and any additional rights the Holder had pertaining to triggered by the occurrence and continuance of an Event of Default will no longer exist. If the Event of Default is not cured during the Default Notice Period, all amounts payable hereunder shall be due and payable on the Default Payment Date, all without further demand, presentment or notice, or grace period, all of which hereby are expressly waived.
Appears in 1 contract
Samples: Artemis International Solutions Corp
Default Payment Date and Default Notice Period. The Default Payment shall be due and payable on the fifth business day after the date written notice is sent from the Holder to the Borrower of an Event of Default as defined in Article IV (“"Default Payment Date”"). The period between the date of the written notice from the Holder to the Borrower of an Event of Default and the Default Payment Date shall be the “"Default Notice Period.” " If during the Default Notice Period, the Borrower cures the Event of Default, the Event of Default will no longer exist and any rights the Holder had pertaining to the Event of Default will no longer exist. If the Event of Default is not cured during the Default Notice Period, all amounts payable hereunder shall be due and payable on the Default Payment Date, all without further demand, presentment or notice, or grace period, all of which hereby are expressly waived.
Appears in 1 contract
Samples: Lmic Inc
Default Payment Date and Default Notice Period. The Default Payment shall be due and payable on the fifth business day after the date written notice is sent from the Holder to the Borrower of an Event of Default as defined in Article IV III (“Default Payment Date”)"DEFAULT PAYMENT DATE") has occurred and is continuing beyond any applicable grace period. The period between the date of the written notice from the Holder to the Borrower upon which of an Event of Default has occurred and is continuing beyond any applicable grace period and the Default Payment Date shall be the “Default Notice Period"DEFAULT PERIOD.” " If during the Default Notice Period, the Borrower cures the Event of Default, the Event of Default will no longer exist and any additional rights the Holder had pertaining to triggered by the occurrence and continuance of an Event of Default will no longer exist, including, without limitation, the right to receive the Default Payment. If the Event of Default is not cured during the Default Notice Period, all amounts payable hereunder shall be due and payable on the Default Payment Date, all without further demand, presentment or notice, or grace period, all of which hereby are expressly waived.
Appears in 1 contract
Samples: DSL Net Inc
Default Payment Date and Default Notice Period. The Default Payment shall be due and payable on the fifth business day after the date written notice is sent from the Holder to the Borrower of an Event of Default as defined in Article IV III (“"Default Payment Date”)") has occurred and is continuing beyond any applicable grace period. The period between the date of the written notice from the Holder to the Borrower upon which of an Event of Default has occurred and is continuing beyond any applicable grace period and the Default Payment Date shall be the “"Default Notice Period.” " If during the Default Notice Period, the Borrower cures the Event of Default, the Event of Default will no longer exist and any additional rights the Holder had pertaining to triggered by the occurrence and continuance of an Event of Default will no longer exist. If the Event of Default is not cured during the Default Notice Period, all amounts payable hereunder shall be due and payable on the Default Payment Date, all without further demand, presentment or notice, or grace period, all of which hereby are expressly waived.
Appears in 1 contract
Samples: Inyx Inc
Default Payment Date and Default Notice Period. The Default Payment shall be due and payable on the fifth business day after the date written notice is sent from the Holder to the Borrower of an Event of Default as defined in Article IV (“Default Payment Date”)) has occurred and is continuing beyond any applicable grace period. The period between the date of the written notice from the Holder to the Borrower upon which of an Event of Default has occurred and is continuing beyond any applicable grace period and the Default Payment Date shall be the “Default Notice Period.” If during the Default Notice Period, the Borrower cures the Event of Default, the Event of Default will no longer exist and any additional rights the Holder had pertaining to triggered by the occurrence and continuance of an Event of Default will no longer existexist including, without limitation, the right to receive the Default Payment. If the Event of Default is not cured during the Default Notice Period, all amounts payable hereunder shall be due and payable on the Default Payment Date, all without further demand, presentment or notice, or grace period, all of which hereby are expressly waived.
Appears in 1 contract
Samples: DSL Net Inc
Default Payment Date and Default Notice Period. The Default Payment shall be due and payable on the fifth business day after the date written notice is sent from the Holder to the Borrower of an Event of Default as defined in Article IV (“Default Payment Date”)"DEFAULT PAYMENT DATE") has occurred and is continuing beyond any applicable grace period. The period between the date of the written notice from the Holder to the Borrower upon which of an Event of Default has occurred and is continuing beyond any applicable grace period and the Default Payment Date shall be the “Default Notice Period"DEFAULT PERIOD.” " If during the Default Notice Period, the Borrower cures the Event of Default, the Event of Default will no longer exist and any additional rights the Holder had pertaining to triggered by the occurrence and continuance of an Event of Default will no longer existexist including, without limitation, the right to receive the Default Payment. If the Event of Default is not cured during the Default Notice Period, all amounts payable hereunder shall be due and payable on the Default Payment Date, all without further demand, presentment or notice, or grace period, all of which hereby are expressly waived.
Appears in 1 contract
Samples: DSL Net Inc
Default Payment Date and Default Notice Period. The Default Payment shall be due and payable on the fifth business day after the date written notice is sent from the Holder to the Borrower of an Event of Default as defined in Article IV (“Default Payment Date”)) has occurred and is continuing beyond any applicable grace period. The period between the date of the written notice from the Holder to the Borrower upon which of an Event of Default has occurred and is continuing beyond any applicable grace period and the Default Payment Date shall be the “Default Notice Period.” If during the Default Notice Period, the Borrower cures the Event of Default, the Event of Default will no longer exist and any additional rights the Holder had pertaining to triggered by the occurrence and continuance of an Event of Default will no longer exist. If the Event of Default is not cured during the Default Notice Period, all amounts payable hereunder shall be due and payable on the Default Payment Date, all without further demand, presentment or notice, or grace period, all of which hereby are expressly waived.
Appears in 1 contract
Samples: Transgenomic Inc
Default Payment Date and Default Notice Period. The Default ---------------------------------------------------- Payment shall be due and payable on the fifth business day after the date written notice is sent from the Holder to the Borrower of an Event of Default as defined in Article IV (“Default Payment Date”)"DEFAULT PAYMENT DATE") has occurred and is continuing beyond any applicable grace period. The period between the date of the written notice from the Holder to the Borrower upon which of an Event of Default has occurred and is continuing beyond any applicable grace period and the Default Payment Date shall be the “Default Notice Period"DEFAULT PERIOD.” " If during the Default Notice Period, the any Borrower cures the Event of Default, the Event of Default will no longer exist and any additional rights the Holder had pertaining to triggered by the occurrence and continuance of an Event of Default will no longer exist. If the Event of Default is not cured during the Default Notice Period, all amounts payable hereunder shall be due and payable on the Default Payment Date, all without further demand, presentment or notice, or grace period, all of which hereby are expressly waived.
Appears in 1 contract
Samples: Elinear Inc
Default Payment Date and Default Notice Period. The Default Payment shall be due and payable on the fifth business day after the date written notice is sent from the Holder to the Borrower of an Event of Default as defined in Article IV (“"Default Payment Date”)") has occurred and is continuing beyond any applicable grace period. The period between the date of the written notice from the Holder to the Borrower of upon which an Event of Default has occurred and is continuing beyond any applicable grace period and the Default Payment Date shall be the “"Default Notice Period.” " If during the Default Notice Period, the Borrower cures the Event of Default, the Event of Default will no longer exist and any additional rights the Holder had pertaining to triggered by the occurrence and continuance of an Event of Default will no longer exist. If the Event of Default is not cured during the Default Notice Period, all amounts payable hereunder shall be due and payable on the Default Payment Date, all without further demand, presentment or notice, or grace period, all of which hereby are expressly waived.
Appears in 1 contract
Samples: Inyx Inc
Default Payment Date and Default Notice Period. The Default Payment (if required) and any and all other payments of principal, accrued and unpaid interest and other unpaid fees hereunder shall be due and payable on the fifth business day after the date written notice is sent from the Holder to the Borrower of an Event of Default as defined in Article IV III (“"Default Payment Date”)") has occurred and is continuing beyond any applicable grace period. The period between the date of the written notice from the Holder to the Borrower upon which of an Event of Default has occurred and is continuing beyond any applicable grace period and the Default Payment Date shall be the “"Default Notice Period.” " If during the Default Notice Period, the Borrower cures the Event of Default, the Event of Default will no longer exist and any additional rights the Holder had pertaining to triggered by the occurrence and continuance of an Event of Default will no longer exist. If the Event of Default is not cured during the Default Notice Period, all amounts payable hereunder shall be due and payable on the Default Payment Date, all without further demand, presentment or notice, or grace period, all of which hereby are expressly waived.
Appears in 1 contract
Samples: Greenman Technologies Inc
Default Payment Date and Default Notice Period. The Default ----------------------------------------------- Payment shall be due and payable on the fifth business day after the date written notice is sent from the Holder to the Borrower of an Event of Default as defined in Article IV III (“Default Payment Date”)"DEFAULT PAYMENT DATE") has occurred and is continuing beyond any applicable grace period. The period between the date of the written notice from the Holder to the Borrower upon which of an Event of Default has occurred and is continuing beyond any applicable grace period and the Default Payment Date shall be the “Default Notice Period"DEFAULT PERIOD.” " If during the Default Notice Period, the any Borrower cures the Event of Default, the Event of Default will no longer exist and any additional rights the Holder had pertaining to triggered by the occurrence and continuance of an Event of Default will no longer exist. If the Event of Default is not cured during the Default Notice Period, all amounts payable hereunder shall be due and payable on the Default Payment Date, all without further demand, presentment or notice, or grace period, all of which hereby are expressly waived.
Appears in 1 contract
Samples: Elinear Inc
Default Payment Date and Default Notice Period. The Default Payment shall be due and payable on the fifth business fifteenth (15th) calendar day after the date written notice is sent from the Holder to the Borrower of an Event of Default as defined in Article IV (“Default Payment Date”"DEFAULT PAYMENT DATE"). The period between the date of the written notice from the Holder to the Borrower of an Event of Default and the Default Payment Date shall be the “Default Notice Period"DEFAULT NOTICE PERIOD.” " If during the Default Notice Period, the Borrower cures the Event of Default, the Event of Default will no longer exist and any rights the Holder had pertaining to the Event of Default will no longer exist. If the Event of Default is not cured during the Default Notice Period, all amounts payable hereunder shall be due and payable on the Default Payment Date, all without further demand, presentment or notice, or grace period, all of which hereby are expressly waived.
Appears in 1 contract
Samples: Netguru Inc
Default Payment Date and Default Notice Period. The Default Payment shall be due and payable on the fifth 20th business day after the date written notice is sent from the Holder to the Borrower of an Event of Default as defined in Article IV (“"Default Payment Date”"). The period between the date of the written notice from the Holder to the Borrower of an Event of Default and the Default Payment Date shall be the “"Default Notice Period.” " If during the Default Notice Period, the Borrower cures the Event of Default, the Event of Default will no longer exist and any rights the Holder had pertaining to the Event of Default will no longer exist. If the Event of Default is not cured during the Default Notice Period, all amounts payable hereunder shall be due and payable on the Default Payment Date, all without further demand, presentment or notice, or grace period, all of which hereby are expressly waived.
Appears in 1 contract
Samples: Lmic Inc
Default Payment Date and Default Notice Period. The Default Payment shall be due and payable on the fifth business day after the date written notice is sent from the Holder to the Borrower of an Event of Default as defined in Article IV (“Default Payment Date”)"DEFAULT PAYMENT DATE") has occurred and is continuing beyond any applicable grace period. The period between the date of the written notice from the Holder to the Borrower upon which of an Event of Default has occurred and is continuing beyond any applicable grace period and the Default Payment Date shall be the “Default Notice Period"DEFAULT PERIOD.” " If during the Default Notice Period, the Borrower cures the Event of Default, the Event of Default will no longer exist and any additional rights the Holder had pertaining to triggered by the occurrence and continuance of an Event of Default will no longer exist. If the Event of Default is not cured during the Default Notice Period, all amounts payable hereunder shall be due and payable on the Default Payment Date, all without further demand, presentment or notice, or grace period, all of which hereby are expressly waived.
Appears in 1 contract
Samples: Global Payment Technologies Inc
Default Payment Date and Default Notice Period. The Default Payment (if required) and any and all other payments of principal, accrued and unpaid interest and other unpaid fees hereunder shall be due and payable on the fifth business day after the date written notice is sent from the Holder to the Borrower of an Event of Default as defined in Article IV (“"Default Payment Date”)") has occurred and is continuing beyond any applicable grace period. The period between the date of the written notice from the Holder to the Borrower upon which of an Event of Default has occurred and is continuing beyond any applicable grace period and the Default Payment Date shall be the “"Default Notice Period.” " If during the Default Notice Period, the Borrower cures the Event of Default, the Event of Default will no longer exist and any additional rights the Holder had pertaining to triggered by the occurrence and continuance of an Event of Default will no longer exist. If the Event of Default is not cured during the Default Notice Period, all amounts payable hereunder shall be due and payable on the Default Payment Date, all without further demand, presentment or notice, or grace period, all of which hereby are expressly waived.
Appears in 1 contract
Samples: Greenman Technologies Inc
Default Payment Date and Default Notice Period. The Default Payment shall be due and payable on the fifth business day after the an Event of Default has occurred and is continuing beyond any applicable grace period ("DEFAULT PAYMENT DATE"). The period between date written notice is sent from the Holder to the Borrower upon which of an Event of Default as defined in Article IV (“Default Payment Date”). The has occurred and is continuing beyond any applicable grace period between the date of the written notice from the Holder to the Borrower of an Event of Default and the Default Payment Date shall be the “Default Notice Period"DEFAULT PERIOD.” " If during the Default Notice Period, the Borrower cures the Event of Default, the Event of Default will no longer exist and any additional rights the Holder had pertaining to triggered by the occurrence and continuance of an Event of Default will no longer exist. If the Event of Default is not cured during the Default Notice Period, all amounts payable hereunder shall be due and payable on the Default Payment Date, all without further demand, presentment or notice, or grace period, all of which hereby are expressly waived.
Appears in 1 contract
Samples: Ventures National Inc