Default in Payment of Principal of Loans Sample Clauses

Default in Payment of Principal of Loans. The Borrower shall default in any payment of principal of any Loan when and as due (whether at maturity, by reason of acceleration or otherwise).
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Default in Payment of Principal of Loans. The Borrower shall default in any payment of principal of any Loan or Note when and as due (whether at maturity, by reason of acceleration or otherwise).
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Default in Payment of Principal of Loans the Borrower shall fail to make any payment of principal on the Loans when due, whether due by acceleration or otherwise; or
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Default in Payment of Principal of Loans. The Borrower shall default in any payment of principal of any Loan or the Notes when and as due (whether at maturity, by reason of acceleration or otherwise) and such default shall continue unremedied for five (5) Business Days.
Sample 1

Related to Default in Payment of Principal of Loans

  • Repayment of Principal Except as otherwise provided herein, the Company will repay the outstanding principal amount of this Note within fourteen (14) Business Days of the Offering Funding Date (the “Maturity Date”). This Note does not bear interest. At the option of the Lender, funds available for repayment of the loan may be held in a Company account, interest free, after the Maturity Date. Such funds shall not be used or otherwise pledged until such time as the Company and Lender have entered into another note.

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