Common use of Consequences of Default Clause in Contracts

Consequences of Default. Upon the occurrence of an Event of Default and at any time thereafter, the entire unpaid principal balance of this Note, together with interest accrued thereon and with all other sums due or owed by the Company hereunder, shall become immediately due and payable. In addition, at the election of Xxxxxx, the principal balance and all past-due interest shall thereafter bear interest at the rate of 18% per annum until paid.

Consequences of Default. Upon the occurrence of an Event of Default and at any time thereafter, the entire unpaid principal balance of this Note, together with interest accrued thereon and with all other sums due or owed by the Company Maker hereunder, shall become immediately due and payable. In addition, at the election of Xxxxxx, the principal balance and all past-due interest shall thereafter bear interest at the rate of 18% per annum until paid.

Consequences of Default. Upon the occurrence of an Event of Default and at any time thereafter, the entire unpaid principal balance of this Note, together with interest accrued thereon and with all other sums due or owed by the Company hereunder, shall become immediately due and payable. In addition, at the election of Xxxxxx, the principal balance and all past-due interest shall thereafter bear interest at the rate of 18% per annum until paid.

Consequences of Default. Upon the occurrence of an Event of Default ------------------------- and at any time thereafter, the entire unpaid principal balance of this Note, together with interest accrued thereon and with all other sums due or owed by the Company Maker hereunder, shall become immediately due and payable. In addition, at the election of Xxxxxx, the principal balance and all past-due interest shall thereafter bear interest at the rate of 18% per annum until paid.