Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, which, if susceptible to cure is not cured within twenty (20) days, otherwise then from the first date of such occurrence, the annual interest rate on this Note shall (subject to Section 5.7) automatically be increased to the highest percentage allowed by law.
Appears in 5 contracts
Samples: Subordinated Convertible Note (Accident Prevention Plus Inc), Subordinated Convertible Note (Accident Prevention Plus Inc), Subordinated Convertible Note (Accident Prevention Plus Inc)
Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, which, if susceptible to cure is not cured within twenty ten (2010) days, otherwise then from the first date of such occurrence, the annual interest rate on this Note shall (subject to Section 5.76.7) automatically be increased to the highest percentage allowed by lawfifteen percent (15%).
Appears in 4 contracts
Samples: Secured Convertible Promissory Note (Inrob Tech Ltd.), Secured Convertible Promissory Note (Inrob Tech Ltd.), Subscription Agreement (Hq Sustainable Maritime Industries, Inc.)
Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, which, if susceptible to cure is not cured within twenty (20) days, otherwise then from the first date of such occurrence, the annual interest rate on this Note shall (subject to Section 5.76.7) automatically be increased to fifteen percent (15%), and all outstanding obligations under this Note, including unpaid interest, shall continue to accrue interest from the highest percentage allowed by lawdate 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: Convertible Note (Alpha Solarco Inc), Convertible Note (Innovative Food Holdings Inc), Convertible Note Agreement (Ibsg International Inc)
Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, which, if susceptible to cure is not cured within twenty (20) days, otherwise then from the first date of such occurrence, the annual interest rate on this Note shall (subject to Section 5.7) automatically be increased to the highest percentage allowed by lawfifteen percent (15%).
Appears in 4 contracts
Samples: Convertible Note (BioMETRX), Convertible Note (Conolog Corp), Convertible Note (Plangraphics Inc)
Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, which, if susceptible to cure is not cured within twenty (20) days, otherwise then from the first date of such occurrence, the annual interest rate on this Note shall (subject to Section 5.7) automatically be increased to the highest percentage allowed by law.
Appears in 4 contracts
Samples: Convertible Note (INCA Designs Inc), Convertible Note (Accident Prevention Plus Inc), Convertible Note Agreement (Accident Prevention Plus Inc)
Default Interest Rate. Following the occurrence and during the continuance of an Event of DefaultDefault (as defined in Article IV), which, if susceptible to cure is not cured within twenty five (205) days, otherwise then from the first date of such occurrence, the annual interest rate on this Note shall (subject to Section 5.74.7) automatically be increased to the highest percentage allowed by lawfifteen percent (15%). Such interest shall be due and payable together with regular scheduled Monthly Amounts.
Appears in 3 contracts
Samples: Secured Convertible Promissory Note (Franklin Towers Enterprises Inc), Secured Convertible Promissory Note (IDO Security Inc.), Secured Convertible Promissory Note (IDO Security Inc.)
Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, which, if susceptible to cure is not cured within twenty ten (2010) days, otherwise then from the first date of such occurrence, the annual interest rate on this Note shall (subject to Section 5.74.7) automatically be increased to the highest percentage allowed by lawfifteen percent (15%) and calculated on a 365 day year.
Appears in 3 contracts
Samples: Convertible Note (Tube Media Corp.), Secured Convertible Note (Medical Exchange Inc.), Convertible Note (Swiss Medica Inc)
Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, which, if susceptible to cure is not cured within twenty five (205) days, otherwise then from the first date of such occurrence, the annual interest rate on this Note shall (subject to Section 5.76.7) automatically be increased to the highest percentage allowed by lawfifteen percent (15%).
Appears in 2 contracts
Samples: Secured Convertible Note (Conolog Corp), Secured Convertible Promissory Note (China Biopharma, Inc.)
Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, which, if susceptible to cure is not cured within twenty (20) days, otherwise then from the first date of such occurrence, the annual interest rate on this Note shall (subject to Section 5.7) automatically be increased to the highest percentage allowed by lawten percent (10%) per annum.
Appears in 2 contracts
Samples: 5% Senior Convertible Note (Lantis Laser Inc.), Convertible Note Agreement (Lantis Laser Inc.)
Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, which, which if susceptible to cure is not cured within twenty ten (2010) days, otherwise then from the first date of such occurrence, the annual interest rate on this Note note shall (subject to Section 5.7) automatically be increased to (15%) for the highest percentage allowed by lawuncured period or upon satisfaction of the outstanding balance.
Appears in 2 contracts
Samples: Promissory Note (DubLi, Inc.), Promissory Note (Medianet Group Technologies Inc)
Default Interest Rate. Following the occurrence and during the continuance of an Event of DefaultDefault (as defined in Article IV), which, if susceptible to cure is not cured within twenty (20) days, otherwise then from the first date of such occurrence, the annual interest rate on this Note shall (subject to Section 5.7) automatically be increased to fifteen percent (15%). Such interest shall be due and payable on the highest percentage allowed by lawMaturity Date, accelerated or otherwise.
Appears in 1 contract
Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, which, if susceptible to cure is not cured within twenty (20) days, otherwise then from the first date of such occurrence, the annual interest rate on this Note shall (subject to Section 5.7) automatically be increased to the highest percentage allowed by laweighteen percent (18%).
Appears in 1 contract
Samples: Subordinated Convertible Note (CareView Communications Inc)
Default Interest Rate. Following the occurrence and during the continuance of an Event of DefaultDefault (as defined in Article IV), which, if susceptible to cure is not cured within twenty (20) days, otherwise then from the first date of such occurrence, the annual interest rate on this Note shall (subject to Section 5.74.7) automatically be increased to the highest percentage allowed by lawfifteen percent (15%). Such interest shall be due and payable together with regular scheduled Monthly Amounts.
Appears in 1 contract
Samples: Convertible Promissory Note (Liberty Star Uranium & Metals Corp.)
Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, which, if susceptible to cure is not cured within twenty (20) days, otherwise then from the first date of such occurrence, the annual interest rate on this Note shall (subject to Section 5.7) automatically be increased to the highest percentage allowed by law5.
Appears in 1 contract
Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, which, if susceptible to cure is not cured within twenty ten (2010) days, otherwise then from the first date of such occurrence, the annual interest rate on this Note shall (subject to Section 5.73.7) automatically be increased to the highest percentage allowed by lawtwenty-four percent (24%) and calculated on a 365 day year.
Appears in 1 contract
Samples: Note (IDO Security Inc.)
Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, which, if susceptible to cure is not cured within twenty (20) days, otherwise then from the first date of such occurrence, the annual interest rate on this Note shall (subject to Section 5.7) automatically be increased to the highest percentage allowed by law6.
Appears in 1 contract
Samples: Convertible Note (GTC Telecom Corp)
Default Interest Rate. Following the occurrence and during the continuance ----------------------- pendency of an Event of Default, which, if susceptible to cure is not cured within twenty (20) days, otherwise then from the first date of such occurrence, the annual interest rate on this Note shall (subject to Section 5.7) automatically be increased to the highest percentage allowed by law6.
Appears in 1 contract
Samples: Secured Convertible Promissory Note (FTS Group, Inc.)
