Common use of Remedies Upon Default; Default Interest Clause in Contracts

Remedies Upon Default; Default Interest. If the principal indebtedness is not paid in full on the Maturity Date, the Maker shall thereafter pay interest on the principal sum then remaining unpaid from the due date until the date on which the principal sum then outstanding is paid in full (whether before or after judgment), at the maximum per annum rate allowable by applicable law. If Maker shall fail to pay any of its obligations under this Note on the date when due, then the holder hereof may declare the outstanding principal balance hereof immediately due and payable and Maker shall immediately pay to the holder all such amounts, with interest accrued but unpaid thereon to the date of payment in full at the applicable rate provided herein.

Appears in 1 contract

Samples: Form of Termination Agreement (Lecg Corp)

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