Common use of Payment Grace Period Clause in Contracts

Payment Grace Period. The Borrower shall have a three (3) business day grace period to pay any monetary amounts due under this Note or the Purchase Agreement or any Related Document, after which grace period a default interest rate of five percent (5%) per annum above the then applicable interest rate hereunder shall apply to the monetary amounts due.

Appears in 12 contracts

Samples: Security Agreement (Electric City Corp), Convertible Term Note (Electric City Corp), Numerex Corp /Pa/

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Payment Grace Period. The Borrower shall have a three (3) business day grace period to pay any monetary amounts due under this Note or the Purchase Agreement or any Related Document, after which grace period a default interest rate of five two percent (52%) per annum above the then applicable interest rate hereunder month shall apply to the monetary amounts duedue hereunder.

Appears in 9 contracts

Samples: Note (Micro Component Technology Inc), Paincare Holdings Inc, Paincare Holdings Inc

Payment Grace Period. The Borrower shall have a three (3) business day grace period to pay any monetary amounts due under this Note or the Purchase Agreement or any Related DocumentAgreement, after which grace period a default interest rate of five percent (5%) per annum above the then applicable interest rate hereunder shall apply to the monetary amounts due.

Appears in 5 contracts

Samples: Securities Purchase Agreement (Nestor Inc), Nestor Inc, Nestor Inc

Payment Grace Period. The Borrower shall have a three (3) business day grace period to pay any monetary amounts due under this Note or the Purchase Agreement or any Related Document, after which grace period a the default interest rate Contract Rate set forth in the first paragraph of five percent (5%) per annum above the then applicable interest rate hereunder Article IV hereof shall apply to the monetary amounts due.

Appears in 3 contracts

Samples: Tidel Technologies Inc, Tidel Technologies Inc, Tidel Technologies Inc

Payment Grace Period. The Borrower shall have a three (3) business day grace period to pay any monetary amounts due under this Note or the Purchase Agreement or any Related Document, after which grace period a default interest rate of five percent (5%) per annum above the then applicable interest rate Interest Rate hereunder shall apply to the monetary amounts due.. DEFAULT RELATED PROVISIONS

Appears in 3 contracts

Samples: Dyntek Inc, Dyntek Inc, Dyntek Inc

Payment Grace Period. The Borrower shall have a three (3) business day grace period to pay any monetary amounts due under this Note or the Purchase Agreement or any Related Document, after which grace period a default interest rate of five percent (5%) per annum above the then applicable interest rate hereunder shall apply to the monetary amounts dueNote.

Appears in 3 contracts

Samples: Force Protection Inc, DSL Net Inc, DSL Net Inc

Payment Grace Period. The Borrower shall have a three (3) business day grace period to pay any monetary amounts due under this Note or the Purchase Security Agreement or any Related Document, after which grace period a default interest rate of five percent (5%) per annum above the then applicable interest rate hereunder Default Rate shall apply to the monetary amounts due.

Appears in 3 contracts

Samples: Transgenomic Inc, Transgenomic Inc, Transgenomic Inc

Payment Grace Period. The Borrower shall have a three (3) business day grace period to pay any monetary amounts due under this Note or the Purchase Security Agreement or any Related Document, after which grace period a default interest rate of five percent (5%) per annum above the then applicable interest rate hereunder shall apply to the monetary amounts due.

Appears in 3 contracts

Samples: Secured Revolving Note (Micro Component Technology Inc), Inyx Inc, Ventures National Inc

Payment Grace Period. The Borrower shall have a three (3) business day grace period to pay any monetary amounts due under this Note or the Purchase Security Agreement or any Related Document, after which grace period a default interest rate of five percent (5%) per annum above the then applicable interest rate hereunder shall apply to the monetary amounts dueAncillary Agreement.

Appears in 2 contracts

Samples: Greenman Technologies Inc, Global Payment Technologies Inc

Payment Grace Period. The Borrower shall have a three (3) business day grace period to pay any monetary amounts due under this Note or the Purchase Security Agreement or any Related DocumentAncillary Agreements, after which grace period a default interest rate of five percent (5%) per annum above the then applicable interest rate hereunder shall apply to the monetary amounts due.

Appears in 2 contracts

Samples: Home Solutions of America Inc, Ventures National Inc

Payment Grace Period. The Borrower shall have a three (3) business day Business Day grace period to pay any monetary amounts due under this Note or the Purchase Agreement or any Related Document, after which grace period a default interest rate of five percent (5%) per annum above the then applicable interest rate hereunder shall apply to the monetary amounts due.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Bam Entertainment Inc), Bam Entertainment Inc

Payment Grace Period. The Borrower shall have a three (3) business day grace period to pay any monetary amounts due under this Note or the Purchase Agreement or any Related DocumentNote, after which grace period a default interest rate of five fifteen percent (515%) per annum above the then applicable interest rate hereunder shall apply to the monetary amounts dueowed hereunder.

Appears in 2 contracts

Samples: General Components, Inc., Celtron International Inc

Payment Grace Period. The Borrower shall have a three (3) business day grace period to pay any monetary amounts due under this Note or the Purchase Security Agreement or any Related DocumentAncillary Agreements, after which grace period a default interest rate of five two and one half percent (52.5%) per annum above the then applicable interest rate hereunder shall apply to the monetary amounts due.

Appears in 2 contracts

Samples: Veridium Corp, Veridium Corp

Payment Grace Period. The Borrower shall have a three (3) business day grace period to pay any monetary amounts due under this Note or the Purchase Agreement or any Related DocumentNote, after which grace period a default interest rate of five percent (5%) per annum above the then applicable interest rate hereunder shall apply to the monetary amounts due.

Appears in 2 contracts

Samples: Nestor Inc, Nestor Inc

Payment Grace Period. The Borrower shall have a three (3) business day grace period to pay any monetary amounts due under this Note or the Purchase Agreement or any Related DocumentNote, after which grace period a default interest rate of five fifteen percent (515%) per annum above the then applicable interest rate hereunder shall apply to the monetary amounts dueowed hereunder.

Appears in 2 contracts

Samples: Cord Blood America, Inc., Cord Blood America, Inc.

Payment Grace Period. The Borrower shall have a three (3) business day grace period to pay any monetary amounts due under this Note or the Purchase Security Agreement or any Related DocumentAncillary Agreements, after which grace period a default interest rate of five ten percent (510%) per annum above the then applicable interest rate hereunder shall apply to the monetary amounts due.

Appears in 2 contracts

Samples: Global Payment Technologies Inc, Greenman Technologies Inc

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Payment Grace Period. The Borrower shall have a three (3) business day grace period to pay any monetary amounts due under this Note or the Purchase Agreement or any Related DocumentNote, after which grace period a default interest rate of five eighteen percent (518%) per annum above the then applicable interest rate hereunder shall apply to the monetary amounts dueowed hereunder.

Appears in 2 contracts

Samples: Advanced Optics Electronics Inc, Advanced Optics Electronics Inc

Payment Grace Period. The Borrower Borrowers shall have a three (3) ---------------------- business day grace period to pay any monetary amounts due under this Note or the Purchase Security Agreement or any Related DocumentAncillary Agreements, after which grace period a default interest rate of five percent (5%) per annum above the then applicable interest rate hereunder shall apply to the monetary amounts duedue until such amounts are paid.

Appears in 1 contract

Samples: Elinear Inc

Payment Grace Period. The Borrower shall have a three (3) business day grace period to pay any monetary amounts due under this Note or the Purchase Agreement or any Related DocumentNote, after which grace period a default interest rate of five percent (5%) 18% per annum above the then applicable interest rate hereunder shall apply to the monetary amounts dueowed hereunder.

Appears in 1 contract

Samples: Convertible Note Purchase Agreement (Advanced Optics Electronics Inc)

Payment Grace Period. The Borrower shall have a three (3) business day grace period to pay any monetary amounts due under this Note or the Purchase Agreement or any Related Document, after which grace period a default interest rate of five percent (5%) per annum above the then applicable interest rate hereunder shall apply to the monetary amounts due.. 4.11

Appears in 1 contract

Samples: Ventures National Inc

Payment Grace Period. The Borrower shall have a three (3) business day grace period to pay any monetary amounts due under this Note or the Purchase Agreement or any Related DocumentAgreement, after which grace period a default interest rate of five two percent (52%) per annum above the then applicable interest rate hereunder month shall apply to the monetary amounts duedue hereunder.

Appears in 1 contract

Samples: Conolog Corp

Payment Grace Period. The Borrower shall have a three (3three(3) business day grace period to pay any monetary amounts due under this Note or the Purchase Agreement or any Related DocumentNote, after which grace period and during the pendency of any other Event of Default (as defined below) a default interest rate of five fifteen percent (515%) per annum above the then applicable interest rate hereunder shall apply to the monetary amounts dueowed hereunder.

Appears in 1 contract

Samples: Airtrax Inc

Payment Grace Period. The Borrower shall have a three (3) business day grace period to pay any monetary amounts due under this Note or the Purchase Agreement or any Related Document, after which grace period a default interest rate of five two percent (52%) per annum above the then applicable interest rate hereunder shall apply to the monetary amounts duedue hereunder.

Appears in 1 contract

Samples: United Energy Corp /Nv/

Payment Grace Period. The Borrower shall have a three (3) business day grace period to pay any monetary amounts due under this Note or the Purchase Agreement or any Related DocumentAgreement, after which grace period a default interest rate of five ten percent (510%) per annum above the then applicable interest rate hereunder shall apply to the monetary amounts duedue hereunder until such Event of Default is cured.

Appears in 1 contract

Samples: Global Payment Technologies Inc

Payment Grace Period. The Borrower Borrowers shall have a three (3) ---------------------- business day grace period to pay any monetary amounts due under this Note or the Purchase Security Agreement or any Related Document, after which grace period a default interest rate of five percent (5%) per annum above the then applicable interest rate hereunder shall apply to the monetary amounts duedue until such amounts are paid.

Appears in 1 contract

Samples: Elinear Inc

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