Scheduled Payment Default. A “Scheduled Payment Default” shall exist if the Company fails to make a payment when the same shall become due pursuant to Section 3.1 hereof and such failure continues for seven Business Days after the Noteholder has provided the Company with notice, in accordance with Section 6.2 hereof, of such failure. In the event of a Scheduled Payment Default the remedies of the Noteholder shall be as provided in the Collaboration Agreement.
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Samples: Collaboration Agreement (pSivida Corp.), Collaboration Agreement (Alimera Sciences Inc), Confidential Treatment Requested (Alimera Sciences Inc)
Scheduled Payment Default. A “Scheduled Payment Default” shall exist if the Company fails to make a payment when the same shall become due pursuant to Section 3.1 2.2 hereof and such failure continues for seven Business Days after the Noteholder has provided the Company with notice, in accordance with Section 6.2 hereof, of such failure. In the event of a Scheduled Payment Default the remedies of the Noteholder shall be as provided in the Collaboration Agreement.
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