Common use of Default Payment Date and Default Notice Period Clause in Contracts

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 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 "