Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, interest on this Note shall automatically be increased by two percent (2%) per month, and all outstanding Obligations, including unpaid interest, shall continue to accrue interest from the date of such Event of Default at such interest rate applicable to such Obligations until such Event of Default is cured or waived.
Appears in 11 contracts
Samples: Secured Revolving Note (Conversion Services International Inc), Secured Convertible Term Note (Return on Investment Corp), Secured Convertible Note (Conversion Services International Inc)
Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, interest on this Note shall automatically be increased by two one and one-half percent (21.50%) per month, and all outstanding Obligations, including unpaid interest, shall continue to accrue interest from the date of such Event of Default at such interest rate applicable to such Obligations until such Event of Default is cured or waived.
Appears in 7 contracts
Samples: Secured Revolving Note (Thomas Equipment, Inc.), Secured Convertible Term Note (Maxim Mortgage Corp/), Secured Revolving Note (Maxim Mortgage Corp/)
Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, subject to Section 6.7, the annual interest rate on this Note shall automatically be increased by two five percent (25%) per month), and all outstanding Obligationsobligations under this Note, including unpaid interest, shall continue to accrue interest from the date of such Event of Default at such interest rate applicable to such Obligations obligations until such Event of Default is cured or waived.
Appears in 6 contracts
Samples: Convertible Note (Trend Mining Co), Convertible Note (Bravo Foods International Corp), Convertible Note (Bravo Foods International Corp)
Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, interest on this Note shall automatically be increased by two to one and one half percent (21.5%) per month, and all outstanding Obligations, including unpaid interest, shall continue to accrue interest from the date of such Event of Default at such interest rate applicable to such Obligations until such Event of Default is cured or waived.
Appears in 5 contracts
Samples: Security Agreement (Electric City Corp), Secured Convertible Note (Home Solutions of America Inc), Secured Convertible Revolving Note (Electric City Corp)
Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, the then current interest rate on this Note shall automatically be increased by two five percent (25%) per month, annum and all outstanding Obligations, including unpaid interest, shall continue to accrue interest from the date of such Event of Default at such default interest rate applicable to such Obligations until such Event of Default is cured or waived.
Appears in 4 contracts
Samples: Secured Revolving Convertible Note (Digital Angel Corp), Secured Minimum Borrowing Convertible Note (Digital Angel Corp), Secured Revolving Convertible Note (Digital Angel Corp)
Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, interest on this Note shall automatically be increased by two percent (2%) per monthto the Default Rate, and all outstanding ObligationsObligations under this Note, including unpaid interest, shall continue to accrue interest from the date of such Event of Default at such interest rate applicable to such Obligations until such Event of Default is cured or waived.
Appears in 4 contracts
Samples: Secured Convertible Note (DSL Net Inc), Secured Revolving Note (DSL Net Inc), Secured Revolving Note (DSL Net Inc)
Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, interest on this Note shall automatically be increased by two ten percent (210%) per monthannum, and all outstanding Obligations, including unpaid interest, shall continue to accrue interest from the date of such Event of Default at such interest rate applicable to such Obligations until such Event of Default is cured or waived.
Appears in 2 contracts
Samples: Secured Revolving Note (Global Payment Technologies Inc), Secured Revolving Note (Greenman Technologies Inc)
Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, interest on this Note shall automatically be increased by two three percent (23%) per monthannum, and all outstanding Obligations, including unpaid interest, shall continue to accrue interest from the date of such Event of Default at such interest rate applicable to such Obligations until such Event of Default is cured or waived.
Appears in 2 contracts
Samples: Secured Convertible Minimum Borrowing Note (Gvi Security Solutions Inc), Secured Revolving Note (Gvi Security Solutions Inc)
Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, subject to Section 6.7, the annual rate of interest on this Note shall automatically be increased by two four percent (24%) per month), and all outstanding Obligationsobligations under this Note, including unpaid interest, shall continue to accrue interest from the date of such Event of Default at such interest rate applicable to such Obligations obligations until such Event of Default is cured or waived.
Appears in 2 contracts
Samples: Convertible Note (SiVault Systems, Inc.), Convertible Note Agreement (SiVault Systems, Inc.)
Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, subject to Section 5.7, the annual interest rate on this Note shall automatically be increased by two to fifteen percent (215%) per month), and all outstanding Obligationsobligations under this Note, including unpaid interest, shall continue to accrue interest from the date of such Event of Default at such interest rate applicable to such Obligations obligations until such Event of Default is cured or waived.
Appears in 2 contracts
Samples: Convertible Note (Goldspring Inc), Convertible Note (Goldspring Inc)
Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, interest on this Note shall automatically be increased by two percent (2%) per monthto the Default Rate, and all outstanding Obligations, including unpaid interest, shall continue to accrue interest from the date of such Event of Default at such interest rate applicable to such Obligations until such Event of Default is cured or waived.
Appears in 2 contracts
Samples: Secured Convertible Note (Transgenomic Inc), Secured Convertible Minimum Borrowing Note (Transgenomic Inc)
Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, interest on this Note shall automatically be increased by two percent (2%) per monthmonth to a maximum annual rate not to exceed fifteen percent (15%), and all outstanding Obligations, including unpaid interest, shall continue to accrue interest from the date of such Event of Default at such interest rate applicable to such Obligations until such Event of Default is cured or waived.
Appears in 2 contracts
Samples: Secured Convertible Minimum Borrowing Note (Catalyst Lighting Group Inc), Secured Revolving Note (Catalyst Lighting Group Inc)
Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, interest on this Note shall automatically be increased by two percent (2%) per month, and all outstanding Obligationsobligations under this Note, including unpaid interest, shall continue to accrue interest from the date of such Event of Default at such interest rate applicable to such Obligations obligations until such Event of Default is cured or waived.
Appears in 2 contracts
Samples: Securities Purchase Agreement (Cci Group Inc), Secured Convertible Term Note (Trinity Learning Corp)
Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, interest on this Note shall automatically be increased by two percent one and one half percent
(21. 50%) per month, and all outstanding Obligationsobligations under this Note, including unpaid interest, shall continue to accrue interest from the date of such Event of Default at such interest rate applicable to such Obligations obligations until such Event of Default is cured or waived.
Appears in 1 contract
Samples: Note (Bio Key International Inc)
Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, subject to Section 6.7, the annual interest rate on this Note shall automatically be increased by two percent (2%) per month), and all outstanding Obligationsobligations under this Note, including unpaid interest, shall continue to accrue interest from the date of such Event of Default at such interest rate applicable to such Obligations obligations until such Event of Default is cured or waived.
Appears in 1 contract
Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, interest on this Note shall automatically be increased by two to five percent (25.0%) per monthannum, and all outstanding Obligations, including unpaid interest, shall continue to accrue interest from the date of such Event of Default at such interest rate applicable to such Obligations until such Event of Default is cured or waived.
Appears in 1 contract
Samples: Secured Convertible Minimum Borrowing Note (Inyx Inc)
Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, interest on this Note shall automatically be increased by to two percent (22.0%) per month, and all outstanding Obligations, including unpaid interest, shall continue to accrue interest from the date of such Event of Default at such interest rate applicable to such Obligations until such Event of Default is cured or waived.
Appears in 1 contract
Samples: Secured Convertible Minimum Borrowing Note (Greenman Technologies Inc)
Default Interest Rate. Following the occurrence and during the ------------------------ continuance of an Event of Default, interest on this Note shall automatically be increased by two to one and one half percent (21.5%) per month, and all outstanding Obligations, including unpaid interest, shall continue to accrue interest from the date of such Event of Default at such interest rate applicable to such Obligations until such Event of Default is cured or waived.
Appears in 1 contract
Samples: Secured Convertible Minimum Borrowing Note (Elinear Inc)
Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, subject to Section 6.7, the annual interest rate on this Note shall automatically be increased by two percent (2%) per month, and all outstanding Obligationsobligations under this Note, including unpaid interest, shall continue to accrue interest from the date of such Event of Default at such interest rate applicable to such Obligations obligations until such Event of Default is cured or waived.
Appears in 1 contract
Samples: Convertible Note (Datascension Inc)
Default Interest Rate. Following the occurrence and during ----------------------- the continuance of an Event of Default, interest on this Note shall automatically be increased by two five percent (25%) per monthannum, and all outstanding Obligations, including unpaid interest, shall continue to accrue interest from the date of such Event of Default at such interest rate applicable to such Obligations until such Event of Default is cured or waived.
Appears in 1 contract
Samples: Secured Revolving Note (Elinear Inc)
Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, interest on this Note shall automatically be increased by two percent (2%) per monthincrease to the Default Rate, and all outstanding Obligationsobligations under this Note, including unpaid interest, shall continue to accrue interest from the date of such Event of Default at such interest rate applicable to such Obligations Default Rate until such Event of Default is cured or waived.
Appears in 1 contract
Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, interest on this Note shall automatically be increased by two to one and one half percent (21.5%) per month, but shall be no more than an additional ten percent (10%) per annum above the then applicable interest rate, and all outstanding Obligations, including unpaid interest, shall continue to accrue such interest from the date of such Event of Default at such interest rate applicable to such Obligations until such Event of Default is cured or waived.
Appears in 1 contract
Samples: Secured Convertible Minimum Borrowing Note (Global Payment Technologies Inc)
Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, subject to Section 6.7, interest on this Note shall automatically be increased by two percent (2%) per month, and all outstanding Obligationsobligations under this Note, including unpaid interest, shall continue to accrue interest from the date of such Event of Default at such interest rate applicable to such Obligations obligations until such Event of Default is cured or waived.
Appears in 1 contract
Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, interest on this Note the Interest Rates shall automatically be increased by two one and one-half percent (21.50%) per month, and all outstanding Obligations, including unpaid interest, shall continue to accrue interest from the date of such Event of Default at such interest rate applicable to such Obligations until such Event of Default is cured or waived.
Appears in 1 contract
Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, interest on this Note shall automatically be increased by two percent (2%) per monthto the Default Rate in effect for Loans at such time, and all outstanding Obligations, including unpaid interest, shall continue to accrue interest from the date of such Event of Default at such interest rate applicable to such Obligations until such Event of Default is cured or waived.
Appears in 1 contract
