Common use of Payment on Default Clause in Contracts

Payment on Default. In the event that an Event of Default shall occur, then the Company shall pay to the Holder the whole amount which then shall have become due on the Debenture for principal and interest, and in addition thereto, such additional amount as shall be sufficient to cover the costs and expenses of collection. No delay or omission of the Holder to exercise any rights or powers accruing upon any default which shall not have been remedied shall impair any such right or power, or shall be construed to be a waiver of any such default or acquiescence therein; and every power and remedy given by this to the Holder may be exercised from time to time and as often as may be deemed expedient by the Holder.

Payment on Default. In the event that an Event of Default shall occur, then the Company shall pay to the Holder the whole amount which then shall have become due on the this Debenture for principal and interest, and in addition thereto, such additional amount as shall be sufficient to cover the costs and expenses of collection. No delay or omission of the Holder to exercise any rights or powers accruing upon any default which shall not have been remedied shall impair any such right or power, or shall be construed to be a waiver of any such default or acquiescence therein; and every power and remedy given by this to the Holder may be exercised from time to time and as often as may be deemed expedient by the Holder.

Payment on Default. In the event that an Event of Default shall occur, then the Company shall pay to the Holder the whole amount which then shall have become due on the Debenture this Convertible Note for principal and interest, and in addition thereto, such additional amount as shall be sufficient to cover the costs and expenses of collection. No delay or omission of the Holder to exercise any rights or powers accruing upon any default which shall not have been remedied shall impair any such right or power, or shall be construed to be a waiver of any such default or acquiescence therein; and every power and remedy given by this Convertible Note to the Holder may be exercised from time to time and as often as may be deemed expedient by the Holder.