OF THE ESSENCE. Contractor agrees that time is of the essence under this Contract for critical path Deliverables and all Milestones identified in the Statement of Work.
OF THE ESSENCE. If you do not make a payment within ten (10) days after the date it is due, you will also pay us a late charge of ten percent (10%) of the amount past due. Your interest rate will be increased by four percent (4%) per annum, over and above your regular interest rate if payment is not made at the scheduled or accelerated maturity of this Note. You will also pay all of our costs of collection, including our reasonable attorney's fees and expenses. If we accelerate this Note, you will also owe us a premium, as set forth in Exhibit B to the Schedule. You waive diligence, presentment, formalities of demand, protest or notice of nonpayment or dishonor or any other notice as to this Note. THIS NOTE IS GOVERNED BY THE SUBSTANTIVE LAWS (AND NOT THE CONFLICT OF LAWS PROVISIONS) OF THE STATE OF NEW YORK. YOU CONSENT TO THE JURISDICTIONS OF ANY FEDERAL OR STATE COURT LOCATED IN (A) THE STATE OF NEW YORK, (B) THE STATES IN WHICH THE COLLATERAL IS LOCATED AND (C) THE STATE WHERE THE OTHER PARTY HAS ITS PRINCIPAL PLACE OF BUSINESS. YOU WAIVE TRIAL BY JURY. You represent to us that the proceeds of the Loan evidenced by this Note are being used to finance (or refinance) your purchase of the Collateral described in the Schedule, and that the Collateral will only be used for business purposes. CYTOGEN CORPORATION ATTEST: By:___________________________________ Name:________________________________ Title:_________________________________ ____________________________ [Assistant] Secretary AXCELL BIOSCIENCES CORPORATION ATTEST: By:___________________________________ Name:________________________________ Title:_________________________________ _____________________________ [Assistant] Secretary SCHEDULE NO. 1 TO PROMISSORY NOTE NO. 1 AND MASTER LOAN AND SECURITY AGREEMENT
OF THE ESSENCE. Time is of the essence with respect to the performance of all terms, conditions and provisions of this Agreement.
OF THE ESSENCE. Unless otherwise instructed by the Owner, execution of this Agreement shall be deemed full Notice to Proceed with the Work.
