Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this Note, plus liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Note to or as directed by the . In connection with such acceleration described herein, the Holder need not provide, and the hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by Holder at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Note until such time, if any, as the Holder receives full payment pursuant to this [Section 7(b)]. No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.
Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this Note,Note plus accrued but unpaid interest, liquidated damagesdamages, and other amounts owing in respect thereof through the date of acceleration,acceleration shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing upon the occurrence of any Event of Default, the interest rate on this Note shall accrue at an interest rate equal to 10% per annum. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Note to or as directed by the . In connection with such acceleration described herein, the Holder need not provide, and the hereby waives, any presentment, demand, protestprotest, or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by Holder at any time prior to payment hereunderhereunder, and the Holder shall have all rights as a holder of the Note until such time, if any, as the Holder receives full payment pursuant to this [Section 7(b)]. No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon. If any amounts under this Note remain unpaid after the date that is Fourteen # months after the Original Issue Date, shall, in addition to any and all other remedies available, make monthly payments of 5% of its gross revenue for the previous month until this Note is paid in full.
Remedies Upon Event of Default.Remedies. If anyan Event of Default occurs, the outstanding principal amountPrincipal Amount of this Note, plus liquidated damages and other amountsNote owing in respect thereof through the date of acceleration, shall become, at the Holder’'s election, immediately due and payable in cash at the “Mandatory Default Amount”. The Mandatory Default Amount. Upon the payment in fullAmount means 150% of the Mandatoryoutstanding Principal Amount of this Note, will be automatically added to the Principal Sum of the Note and tack back to the Effective Date for purposes of Rule 144. Commencing 5 days after the occurrence of any Event of Default Amount,that results in the Holder shall promptly surrendereventual acceleration of this Note, this Note shall accrue additional interest, in addition to the Note’s “guaranteed” interest, at a rate equal to the lesser of 20% per annum or as directed by the .maximum rate permitted under applicable law. In connection with such acceleration described herein, the Holder need not provide, and the Issuer hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by Holder at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Notenote until such time, if any, as the Holder receives full payment pursuant to this [Section 7(2.00(b)]. No such rescission or annulment shall affect any subsequent Eventevent of Defaultdefault or impair any right consequent thereon. Nothing herein shall limit 's right to pursue any other remedies available to it at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief with respect to the Issuer's failure to timely deliver certificates representing shares of Common Stock upon conversion of the Note as required pursuant to the terms hereof.
Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this Note, plusDebenture, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing 5 days after the occurrence of any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this NoteDebenture to or as directed by the _Organization A:. In connection with such acceleration described herein, the Holder need not provide, and the _Organization A: hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by Holder at any time prior to payment hereunder and the Holder shall have all rights as a holder of the NoteDebenture until such time, if any, as the Holder receives full payment pursuant to this [Section 7(8(b)]. No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.
Remedies UponRemedies. If an Event of Default occurs and is continuing with respect to the Note, the Holder may declare all of the then outstanding Principal Amount of this Note, including any interest due thereon, to be due and payable immediately without further action or notice. In the event of such acceleration, the amount due and owing to the Holder shall be increased to 150% of the outstanding Principal Amount of the Note held by the Holder plus all accrued and unpaid interest, fees, and liquidated damages, if any. Additionally, this Note shall bear interest on any unpaid principal from and after the occurrence and during the continuance of an Event of Default at a rate of 20%. Finally, the Note will accrue liquidated damages of per day from and after the occurrence and during the continuance of an Event of Default. If any acknowledges that it would be extremely difficult or impracticable to determine the Holders actual damages and costs resulting from an Event of Default occurs,and any such additional amounts are the outstanding principal amount of this Note, plusagreed upon liquidated damages representing a reasonable estimate of those damages and other amounts owing in respect thereof throughcosts. The remedies under this Note shall be cumulative and added to the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Upon the payment in fullprincipal value of the Mandatory Default Amount, the Holder shall promptly surrender this Note to or as directed by the . In connection with such acceleration described herein, the Holder need not provide, and the hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by Holder at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Note until such time, if any, as the Holder receives full payment pursuant to this [Section 7(b)]. No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.Note.
Remedies Upon the occurrence of any Event of Default.Default, Holder shall have and hereby expressly preserves all rights and remedies, whether provided in this Note, at law, or in equity. If any amount due under this Note is reduced to judgment, or if any Event of Default occurs, the outstanding principal amountdescribed above shall occur, without limiting any of its other rights or remedies, Holder, or any successor Holder of this Note, plus liquidated damagesmay, at its option, accelerate and other amounts owing in respect thereof throughdeclare the date of acceleration, shall become, at the Holder’s election,entire unpaid principal balance then payable under this Note to be immediately due and payable in cash at the Mandatory Default Amount. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Note to or as directed by the . In connection with such acceleration described herein, the Holder need not provide, and the hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by Holder at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Note until such time, if any, as the Holder receives full payment pursuant to this [Section 7(b)]. No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.payable.
Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this Note, plus liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Note to or as directed by the . In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protestprotest, or other notice or demands of any kind, and the Holder maymay, at the Holder's option, immediately and without expiration of any grace period # enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law.law, and # declare this Note mature, and all sums owing hereunder shall be due and payable immediately. Such accelerationdeclaration may be rescinded and annulled by the Holder at any time prior to payment hereunder and the Holder shall have all rights as a holder of the NoteHolder until such time, if any, as the Holder receives full payment pursuant tounder this [Section 7(b)].Section shall have been received by it. No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.
RemediesRemedies. Upon Eventthe occurrence of Default. If any Event of Default occurs,Default, the outstanding principal amountholder of this Note, plus liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’holder’s election,option, may declare (or upon the occurrence of an Event of Default specified in [Section 7.1(f)] or [Section 7.1(g)(v)] of the Credit Agreement, automatically and without notice) all sums of principal and interest outstanding hereunder to be immediately due and payable without presentment, demand, notice of nonperformance, notice of protest, protest or notice of dishonor, all of which are expressly waived by , and the obligation, if any, of the holder to extend any further credit hereunder shall immediately cease and terminate. shall pay to the holder immediately upon demand the full amount of all payments, advances, charges, costs and expenses, including reasonable and documented attorneys’ fees (to include outside counsel fees and all allocated costs of the holder’s in-house counsel), expended or incurred by the holder in cashconnection with the enforcement of the holder’s rights and/or the collection of any amounts which become due to the holder under this Note whether or not suit is brought, and the prosecution or defense of any action in any way related to this Note, including without limitation, any action for declaratory relief, whether incurred at the Mandatory Default Amount. Upon the paymenttrial or appellate level, in fullan arbitration proceeding or otherwise, and including any of the Mandatory Default Amount, the Holder shall promptly surrender this Note to or as directed by the . Inforegoing incurred in connection with such acceleration described herein, the Holder need not provide, and theany bankruptcy proceeding (including without limitation, any adversary proceeding, contested matter or motion brought by or any other person) relating to hereby waives,or any presentment, demand, protestother person or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by Holder at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Note until such time, if any, as the Holder receives full payment pursuant to this [Section 7(b)]. No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.entity.
Remedies UponThen, and in any such Event of Default. If any Event of Default occurs,Default, the outstandingHolder may, at its option and without written notice , declare the entire principal amount of this Note, plus liquidated damagesNote and other amounts owing in respect thereof through theall interest accrued thereon date of acceleration,payment then outstanding immediately due and payable, and the same shall become, at the Holder’s election,forthwith become immediately due and payable in cash at the Mandatory Default Amount. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Note to or as directed by the . In connection with such acceleration described herein, the Holder need not provide, and the hereby waives, anywithout presentment, demand, protestprotest, or other notice of any kind, andall of which are expressly waived. The Events of Default listed herein are solely for the purpose of protecting the interests of the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by Holder at any time prior to payment hereunder and the Holder shall have all rights as a holder ofthis Note. If the Note until such time, if any,is not paid in full upon acceleration, as required above, interest shall accrue on the Holder receives full payment pursuant tooutstanding principal balance of and interest on this [Section 7(b)]. No such rescission or annulment shall affect any subsequentNote from the date of the Event of Default up to and including the date of payment at a rate equal greater of eighteen (18%) percent per annum or impair any right consequent thereon.the maximum interest rate permitted by applicable law.
AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.
And AllDrafts generates clean Word and PDF files from any draft.