Common use of Rights and Remedies Upon an Event of Default Clause in Contracts

Rights and Remedies Upon an Event of Default. Upon the occurrence of any Event of Default specified in (a) in the case of this Article III, other than Sections 3.5 and 3.7, this Note may, at the election of the Holder, become immediately due and payable, and (b) in the case of Section 3.5 or Section 3.7, this Note shall become immediately due and payable and, upon this Note becoming immediately due and payable, the Borrower shall pay to the Holder, in full satisfaction of its obligations hereunder, an amount equal to the Principal Amount then outstanding plus accrued and unpaid interest (including any Default Interest) through the date of full repayment multiplied by 125% (collectively the “Default Amount”), as well as all reasonable and documented out of pocket costs, including, without limitation, legal fees and expenses, of collection, all without demand, presentment or notice, all of which hereby are expressly waived by the Borrower, but limited to, in the case of fees and expenses of legal counsel, to one (1) primary legal counsel of Xxxxxx. Holder may, in Xxxxxx’s sole discretion, convert all or any portion of this Note (including the Default Amount) into Common Stock pursuant to the terms of this Note (for the avoidance of doubt, this shall apply even if such conversion occurs after the Maturity Date). For purposes of payments in Common Stock, the conversion formula set forth in Section 1.2 shall apply as well as all other provisions of this Note. The Holder shall be entitled to exercise all other rights and remedies available at law or in equity.

Rights and Remedies Upon an Event of Default. Upon the occurrence of any Event of Default specified in (a) in the case of this Article III, other than Sections 3.5 and 3.7, this Note may, at the election of the Holder, become immediately due and payable, and (b) in the case of Section 3.5 or Section 3.7, this Note shall become immediately due and payable and, upon this Note becoming immediately due and payable, the Borrower shall pay to the Holder, in full satisfaction of its obligations hereunder, an amount equal to the Principal Amount then outstanding plus accrued and unpaid interest (including any Default Interest) through the date of full repayment multiplied by 125% (collectively the “Default Amount”), as well as all reasonable and documented out of pocket costs, including, without limitation, legal fees and expenses, of collection, all without demand, presentment or notice, all of which hereby are expressly waived by the Borrower, but limited to, in the case of fees and expenses of legal counsel, to one (1) primary legal counsel of XxxxxxHolder. Holder may, in Xxxxxx’s sole discretion, convert all or any portion of this Note (including the Default Amount) into Common Stock pursuant to the terms of this Note (for the avoidance of doubt, this shall apply even if such conversion occurs after the Maturity Date). For purposes of payments in Common Stock, the conversion formula set forth in Section 1.2 shall apply as well as all other provisions of this Note. The Holder shall be entitled to exercise all other rights and remedies available at law or in equity.

Rights and Remedies Upon an Event of Default. Upon Subject to applicable cure periods specifically provided for herein, upon the occurrence and during the continuation of any Event of Default specified in this Article III, exercisable through the delivery of written notice to the Borrower by the Holder (athe “Default Notice”) (provided, however, that no Default Notice need be provided by the Holder and no notice and no cure period shall apply in the case of this Article IIIthe Events of Default specified in Sections 3.1, other than Sections 3.5 and 3.7, this Note may, at the election of the Holder, become immediately due and payable, and (b) in the case of Section 3.5 or Section 3.7above), this Note shall become immediately due and payable and, upon this Note becoming immediately due and payable, the Borrower shall pay to the Holder, in full satisfaction of its obligations hereunder, an amount (the “Default Amount”) equal to 135% of the Principal Amount then outstanding plus accrued and unpaid interest (including any Default Interest) through the date of full repayment multiplied by 125% (collectively repayment. Holder may, in its sole discretion, determine to accept payment part in Common Stock and part in cash. For purposes of payments in Common Stock, the “Default Amount”)conversion formula set forth in Section 1.2 shall apply. Upon an uncured Event of Default, as well as all reasonable amounts payable hereunder shall immediately become due and documented out of pocket costs, including, without limitation, legal fees and expenses, of collectionpayable, all without demand, presentment or notice, all of which hereby are expressly waived by the Borrower, but limited totogether with all costs, in the case of including, without limitation, legal fees and expenses expenses, of legal counselcollection, to one (1) primary legal counsel of Xxxxxx. Holder may, in Xxxxxx’s sole discretion, convert all or any portion of this Note (including and the Default Amount) into Common Stock pursuant to the terms of this Note (for the avoidance of doubt, this shall apply even if such conversion occurs after the Maturity Date). For purposes of payments in Common Stock, the conversion formula set forth in Section 1.2 shall apply as well as all other provisions of this Note. The Holder shall be entitled to exercise all other rights and remedies available at law or in equity, including, without limitation, those set forth in Section 3.23 below.

Rights and Remedies Upon an Event of Default. Upon the occurrence of any Event of Default specified in (a) in the case of this Article III, other than Sections 3.5 and 3.7, this Note may, at the election of the Holder, become immediately due and payable, and (b) in the case of Section 3.5 or Section 3.7, this Note shall become immediately due and payable and, upon this Note becoming immediately due and payable, the Borrower shall pay to the Holder, in full satisfaction of its obligations hereunder, an amount equal to the Principal Amount then outstanding plus accrued and unpaid interest Default Interest (including any Default Interestif any) through the date of full repayment multiplied by 125% (collectively the “Default Amount”), as well as all reasonable and documented out of pocket costs, including, without limitation, legal fees and expenses, of collection, all without demand, presentment or notice, all of which hereby are expressly waived by the Borrower, but limited to, in the case of fees and expenses of legal counsel, to one (1) primary legal counsel of Xxxxxx. Holder may, in Xxxxxx’s sole discretion, convert all or any portion of this Note (including the Default Amount) into Common Stock pursuant to the terms of this Note (for the avoidance of doubt, this shall apply even if such conversion occurs after the Maturity Date). For purposes of payments in Common Stock, the conversion formula set forth in Section 1.2 shall apply as well as all other provisions of this Note. The Holder shall be entitled to exercise all other rights and remedies available at law or in equity.

Rights and Remedies Upon an Event of Default. Upon Subject to applicable cure periods specifically provided for herein, upon the occurrence and during the continuation of any Event of Default specified in this Article III, exercisable through the delivery of written notice to the Borrower by the Holder (athe “Default Notice”) (provided, however, that no Default Notice need be provided by the Holder and no notice and no cure period shall apply in the case of this Article IIIthe Events of Default specified in Sections 3.1, other than Sections 3.5 and 3.2, 3.4, 3.5, 3.6, 3.7, this Note may3.9, at the election of the Holder3.10, become immediately due and payable3.11, and (b) in the case of Section 3.5 3.14 3.16, 3.17, 3.18, 3.19 or Section 3.73.20 above), this Note shall become immediately due and payable and, upon this Note becoming immediately due and payable, the Borrower shall pay to the Holder, in full satisfaction of its obligations hereunder, an amount (the “Default Amount”) equal to 125% of the Principal Amount then outstanding plus accrued and unpaid interest (including any Default Interest) through the date of full repayment multiplied by 125% (collectively repayment. Holder may, in its sole discretion, determine to accept payment part in Common Stock and part in cash. For purposes of payments in Common Stock, the “Default Amount”)conversion formula set forth in Section 1.2 shall apply. Upon an uncured Event of Default, as well as all reasonable amounts payable hereunder shall immediately become due and documented out of pocket costs, including, without limitation, legal fees and expenses, of collectionpayable, all without demand, presentment or notice, all of which hereby are expressly waived by the Borrower, but limited totogether with all costs, in the case of including, without limitation, legal fees and expenses expenses, of legal counselcollection, to one (1) primary legal counsel of Xxxxxx. Holder may, in Xxxxxx’s sole discretion, convert all or any portion of this Note (including and the Default Amount) into Common Stock pursuant to the terms of this Note (for the avoidance of doubt, this shall apply even if such conversion occurs after the Maturity Date). For purposes of payments in Common Stock, the conversion formula set forth in Section 1.2 shall apply as well as all other provisions of this Note. The Holder shall be entitled to exercise all other rights and remedies available at law or in equity, including, without limitation, those set forth in Section 3.22 below.