Note Default Clause Samples

Note Default. If ▇▇▇▇▇ fails to pay the Note Payment when due, a 50% penalty will be applied to the unpaid amount. For example, if a $10,000 payment is missed, the amount owed will increase to $15,000.

Note Default. An "Event of Default" under the Note;

Note Default. Any default occurs under any Note.

Note Default. Five days for the failure to pay amounts that are due under the Note.

Note Default. Simultaneously with the execution of this Lease, Landlord, as maker, delivered to Tenant, as payee, that certain promissory note in the original principal amount of $2,517,000 (the "PURCHASE MONEY Note"), as partial consideration for the sale of the Leased Premises to Landlord. Landlord expressly agrees that any default by Landlord, as maker, under any of the terms of the Purchase Money Note shall constitute a default by Landlord under this Lease.