Common use of Default Payment Clause in Contracts

Default Payment. Following the occurrence and during the continuance of an Event of Default, the Holder, at its option, may elect, in addition to all rights and remedies of the Holder under the Security Agreement and the other Ancillary Agreements and all obligations and liabilities of each Company under the Security Agreement and the other Ancillary Agreements, to require the Companies, jointly and severally, to make a Default Payment (“Default Payment”). The Default Payment shall be 110% of the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder, under the Security Agreement or any other Ancillary Agreement. The Default Payment. The Default Payment shall be applied first to any fees due and payable to the Holder pursuant to the Note, the Security Agreement and/or the Ancillary Agreements, then to accrued and unpaid interest due on the Note and then to the outstanding principal balance of the Note. Subject to the last sentence of Section 17 of the Security Agreement, the Default Payment shall be due and payable immediately on the date that the Holder has demanded payment of the Default Payment pursuant to this Section 2.3 and, when received, shall be regarded as payment in full of all amounts due under the Note.

Default Payment. Following the occurrence and during the continuance of an Event of Default, the Holder, at its option, may elect, in addition to all rights and remedies of the Holder under the Security Agreement and the other Ancillary Agreements and all obligations and liabilities of each Company under the Security Agreement and the other Ancillary Agreements, to require the Companies, jointly and severally, to make a Default Payment (“Default Payment”). The Default Payment shall be 110% (a) one hundred twelve percent (112%) of the outstanding principal amount balance of the Note, plus (b) accrued but unpaid interest, plus (c) all other fees then remaining unpaid, and plus (d) all other amounts payable hereunder, under the Security Agreement or any other Ancillary Agreement. The Default Payment. The Default Payment shall be applied first to any fees due and payable to the Holder pursuant to the NoteNotes, the Security Agreement and/or the Ancillary Agreements, then to accrued and unpaid interest due on the Note Notes and then to the outstanding principal balance of the NoteNotes. Subject to the last sentence of Section 17 of the Security Agreement, the The Default Payment shall be due and payable immediately on the date that the Holder has demanded payment of the Default Payment exercised its rights pursuant to this Section 2.3 and, when received, shall be regarded as payment in full of all amounts due under the Note3.3.

Default Payment. Following the occurrence and during the continuance of an Event of Default, the Holder, at its option, may elect, in addition to all rights and remedies of the Holder under the Security Agreement and the other Ancillary Agreements and all obligations and liabilities of each Company under the Security Agreement and the other Ancillary Agreements, to require the Companies, jointly and severally, to make a Default Payment (“Default Payment”). The Default Payment shall be 110% (a) one hundred twelve percent (112%) of the outstanding principal amount balance of the Note, plus (b) accrued but unpaid interest, plus (c) all other fees then remaining unpaid, and plus (d) all other amounts payable hereunder, under the Security Agreement or any other Ancillary Agreement. The Default Payment. The Default Payment shall be applied first to any fees due and payable to the Holder pursuant to the Note, the Security Agreement Notes and/or the Ancillary Agreements, then to accrued and unpaid interest due on the Note Notes, the Security Agreement and then to the outstanding principal balance of the NoteNotes. Subject to the last sentence of Section 17 of the Security Agreement, the The Default Payment shall be due and payable immediately on the date that the Holder has demanded payment of the Default Payment exercised its rights pursuant to this Section 2.3 and, when received, shall be regarded as payment in full of all amounts due under the Note4.3.

Default Payment. Following the occurrence and during the continuance of an Event of Default, the Holder, at its option, may elect, in addition to all rights and remedies of the Holder under the Security Agreement and the other Ancillary Agreements and all obligations and liabilities of each Company under the Security Agreement and the other Ancillary Agreements, to require the Companies, jointly and severally, to make a Default Payment (“Default Payment”"DEFAULT PAYMENT"). The Default Payment shall be 110one hundred twenty five percent 125% of the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder, under the Security Agreement or any other Ancillary Agreement. The Default Payment. The Default Payment shall be applied first to any fees due and payable to the Holder pursuant to the NoteNotes , the Security Agreement and/or the Ancillary Agreements, then to accrued and unpaid interest due on the Note Notes and then to the outstanding principal balance of the NoteNotes. Subject to the last sentence of Section 17 of the Security Agreement, the The Default Payment shall be due and payable immediately on the date that the Holder has demanded payment of the Default Payment exercised its rights pursuant to this Section 2.3 and, when received, shall be regarded as payment in full of all amounts due under the Note3.3.

Default Payment. Following the occurrence and during the continuance of an Event of Default, the Holder, at its option, may elect, in addition to all rights and remedies of the Holder under the Security Agreement and the other Ancillary Agreements and all obligations and liabilities of each Company under the Security Agreement and the other Ancillary Agreements, to require the Companies, jointly and severally, to make a Default Payment (“"Default Payment”"). The Default Payment shall be 110% one hundred twenty percent (120%) of the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder, under the Security Agreement or any other Ancillary Agreement. The Default Payment. The Default Payment shall be applied first to any fees due and payable to the Holder pursuant to the Note, the Security Agreement Notes and/or the Ancillary Agreements, then to accrued and unpaid interest due on the Note Notes, the Security Agreement and then to the outstanding principal balance of the NoteNotes. Subject to the last sentence of Section 17 of the Security Agreement, the The Default Payment shall be due and payable immediately on the date that the Holder has demanded payment of the Default Payment exercised its rights pursuant to this Section 2.3 and, when received, shall be regarded as payment in full of all amounts due under the Note4.3.

Default Payment. Following the occurrence and during the continuance of an Event of Default, the Holder, at its option, may elect, in addition to all rights and remedies of the Holder under the Security Agreement and the other Ancillary Agreements and all obligations and liabilities of each Company under the Security Agreement and the other Ancillary Agreements, to require the Companies, jointly and severally, to make a Default Payment (“"Default Payment”"). The Default Payment shall be 110130% of the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder, under the Security Agreement or any other Ancillary Agreement. The Default Payment. The Default Payment shall be applied first to any fees due and payable to the Holder pursuant to the Note, the Security Agreement and/or the Ancillary Agreements, then to accrued and unpaid interest due on the Note Notes and then to the outstanding principal balance of the Note. Subject to the last sentence of Section 17 of the Security Agreement, the Default Payment shall be due and payable immediately on the date that the Holder has demanded payment of the Default Payment pursuant to this Section 2.3 and, when received, shall be regarded as payment in full of all amounts due under the Note2.3.

Default Payment. Following the occurrence and during the continuance of --------------- an Event of Default, the Holder, at its option, may elect, in addition to all rights and remedies of the Holder under the Security Agreement and the other Ancillary Agreements and all obligations and liabilities of each Company under the Security Agreement and the other Ancillary Agreements, to require the Companies, jointly and severally, to make a Default Payment (“Default Payment”"DEFAULT PAYMENT"). The Default Payment shall be 110120% of the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder, under the Security Agreement or any other Ancillary Agreement. The Default Payment. The Default Payment shall be applied first to any fees due and payable to the Holder pursuant to the Note, the Security Agreement and/or the Ancillary Agreements, then to accrued and unpaid interest due on the Note Notes and then to the outstanding principal balance of the Note. Subject to the last sentence of Section 17 of the Security Agreement, the Default Payment shall be due and payable immediately on within three (3) business days of the date that the Holder has demanded payment of the Default Payment pursuant to this Section 2.3 and, when received, shall be regarded as payment in full of all amounts due under the Note2.3.

Default Payment. Following the occurrence and during the continuance of an Event of Default, the Holder, at its option, may demand repayment in full of all Obligations and/or may elect, in addition to all rights and remedies of the Holder under the Security Agreement and the other Ancillary Agreements and all obligations and liabilities Obligations of each Company the Companies under the Security Agreement and the other Ancillary Agreements, to require the Companies, jointly and severally, Company to make a Default Payment (“Default Payment”"DEFAULT PAYMENT"). The Default Payment shall be 110130% of the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder, under the Security Agreement or any other Ancillary Agreement. The Default Payment. The Default Payment shall be applied first to any fees due and payable to the Holder pursuant to the NoteNotes, the Security Agreement Agreement, and/or the other Ancillary Agreements, then to accrued and unpaid interest due on the Note Notes and then to the outstanding principal balance of the NoteNotes. Subject to the last sentence of Section 17 of the Security Agreement, the The Default Payment shall be due and payable immediately on the date that the Holder has demanded payment of the Default Payment exercised its rights pursuant to this Section 2.3 and, when received, shall be regarded as payment in full of all amounts due under the Note4.3.

Default Payment. Following the occurrence and during the continuance of an Event of Default, the Holder, at its option, may elect, in addition to all rights and remedies of the Holder under the Security Agreement and the other Ancillary Agreements and all obligations and liabilities of each Company under the Security Agreement and the other Ancillary Agreements, to require the Companies, jointly and severally, to make a Default Payment (“"Default Payment”"). The Default Payment shall be 110% One Hundred Twenty percent (120%) of the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder, under the Security Agreement or any other Ancillary Agreement. The Default Payment. The Default Payment shall be applied first to any fees due and payable to the Holder pursuant to the NoteNotes, the Security Agreement and/or the Ancillary Agreements, then to accrued and unpaid interest due on the Note Notes and then to the outstanding principal balance of the NoteNotes. Subject to the last sentence of Section 17 of the Security Agreement, the The Default Payment shall be due and payable immediately on the date that the Holder has demanded payment of the Default Payment exercised its rights pursuant to this Section 2.3 and, when received, shall be regarded as payment in full of all amounts due under the Note3.3.

Default Payment. Following the occurrence and during the continuance of an Event of Default, the Holder, at its option, may elect, acting reasonably and in good faith, in addition to all rights and remedies of the Holder under the Security and Purchase Agreement and the other Ancillary Agreements and all obligations and liabilities of each Company the Borrower under the Security and Purchase Agreement and the other Ancillary Agreements, to require the Companies, jointly and severally, Borrower to make a Default Payment (“"Default Payment”"). The Default Payment shall be 110% one hundred thirty percent (130%) of the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder, under the Security Agreement or any other Ancillary Agreement. The Default Payment. The Default Payment shall be applied first to any fees due and payable to the Holder pursuant to the NoteNotes, the Security and Purchase Agreement and/or the Ancillary Agreements, then to accrued and unpaid interest due on the Note Notes and then to the outstanding principal balance of the NoteNotes. Subject to the last sentence of Section 17 of the Security Agreement, the The Default Payment shall be due and payable immediately on the date that the Holder has demanded payment of the Default Payment exercised its rights pursuant to this Section 2.3 and, when received, shall be regarded as payment in full of all amounts due under the Note4.3.

Default Payment. Following the occurrence and during the continuance of an Event of Default, the Holder, at its option, may elect., in addition to all rights and remedies of the Holder under the Security Agreement and the other Ancillary Agreements and all obligations and liabilities of each Company under the Security Agreement and the other Ancillary Agreements, to terminate the Security Agreement pursuant to Section 17 thereof and require the Companies, jointly and severally, to make a Default Payment (“Default Payment”"DEFAULT PAYMENT"). The Default Payment shall be 110% one hundred twenty percent (120%) of the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder, under the Security Agreement or any other Ancillary Agreement. The Default Payment. The Default Payment shall be applied first to any fees due and payable to the Holder pursuant to the Note, the Security Agreement Notes and/or the Ancillary Agreements, then to accrued and unpaid interest due on the Note Notes, the Security Agreement and then to the outstanding principal balance of the NoteNotes. Subject to the last sentence of Section 17 of the Security Agreement, the The Default Payment shall be due and payable immediately on the date that the Holder has demanded payment of the Default Payment exercised its rights pursuant to this Section 2.3 and, when received, shall be regarded as payment in full of all amounts due under the Note4.3.

Default Payment. Following the occurrence and during the continuance of an Event of Default, the Holder, at its option, may elect, acting reasonably and in good faith, in addition to all rights and remedies of the Holder under the Security and Purchase Agreement and the other Ancillary Agreements and all obligations and liabilities of each the Company under the Security and Purchase Agreement and the other Ancillary Agreements, to require the Companies, jointly and severally, Company to make a Default Payment (“"Default Payment”"). The Default Payment shall be 110% one hundred thirty percent (130%) of the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder, under the Security Agreement or any other Ancillary Agreement. The Default Payment. The Default Payment shall be applied first to any fees due and payable to the Holder pursuant to the NoteNotes, the Security and Purchase Agreement and/or the Ancillary Agreements, then to accrued and unpaid interest due on the Note Notes and then to the outstanding principal balance of the NoteNotes. Subject to the last sentence of Section 17 of the Security Agreement, the The Default Payment shall be due and payable immediately on the date that the Holder has demanded payment of the Default Payment exercised its rights pursuant to this Section 2.3 and, when received, shall be regarded as payment in full of all amounts due under the Note4.3.

Default Payment. Following the occurrence and during the continuance of an Event of Default, the Holder, at its option, may elect, in addition to all rights and remedies of the Holder under the Security Agreement and the other Ancillary Agreements and all obligations and liabilities of each Company under the Security Agreement and the other Ancillary Agreements, to require the Companies, jointly and severally, to make a Default Payment (“"Default Payment”"). The Default Payment shall be 110% One Hundred Twenty percent (120%) of the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder, under the Security Agreement or any other Ancillary Agreement. The Default Payment. The Default Payment shall be applied first to any fees due and payable to the Holder pursuant to the Note, the Security Agreement Notes and/or the Ancillary Agreements, then to accrued and unpaid interest due on the Note Notes, the Security Agreement and then to the outstanding principal balance of the NoteNotes. Subject to the last sentence of Section 17 of the Security Agreement, the The Default Payment shall be due and payable immediately on the date that the Holder has demanded payment of the Default Payment exercised its rights pursuant to this Section 2.3 and, when received, shall be regarded as payment in full of all amounts due under the Note4.3.

Default Payment. Following the occurrence and during the continuance of an Event of Default, the Holder, at its option, may elect, in addition to all rights and remedies of the Holder under the Security Agreement and the other Ancillary Agreements and all obligations and liabilities of each Company under the Security Agreement and the other Ancillary Agreements, to require the Companies, jointly and severally, to make a Default Payment (“"Default Payment”"). The Default Payment shall be 110120% of the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder, under the Security Agreement or any other Ancillary Agreement. The Default Payment. The Default Payment hereunder and shall be applied first to pay any fees due and payable to the Holder pursuant to terms of the NoteNotes, the Security Agreement and/or the any other Ancillary AgreementsAgreement, then and thereafter to accrued and unpaid interest due on the Note Notes, and then thereafter to the outstanding principal balance of the NoteNotes. Subject to the last sentence of Section 17 of the Security Agreement, the The Default Payment shall be due and payable immediately on the date that the Holder has demanded payment of the Default Payment exercised its rights pursuant to this Section 2.3 and, when received, shall be regarded as payment in full of all amounts due under the Note3.3.

Default Payment. Following the occurrence and during the continuance of an Event of Default, the Holder, at its option, may elect, in addition to all rights and remedies of the Holder under the Security Agreement and the other Ancillary Agreements and all obligations and liabilities of each Company under the Security Agreement and the other Ancillary Agreements, to require the Companies, jointly and severally, to make a Default Payment (“Default Payment”). The Default Payment shall be 110one hundred twenty five percent 125% of the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder, under the Security Agreement or any other Ancillary Agreement. The Default Payment. The Default Payment shall be applied first to any fees due and payable to the Holder pursuant to the NoteNotes , the Security Agreement and/or the Ancillary Agreements, then to accrued and unpaid interest due on the Note Notes and then to the outstanding principal balance of the NoteNotes. Subject to the last sentence of Section 17 of the Security Agreement, the The Default Payment shall be due and payable immediately on the date that the Holder has demanded payment of the Default Payment exercised its rights pursuant to this Section 2.3 and, when received, shall be regarded as payment in full of all amounts due under the Note3.3.

Default Payment. Following the occurrence and during the continuance of an Event of Default, the Holder, at its option, may elect, in addition to all rights and remedies of the Holder under the Security Agreement and the other Ancillary Agreements and all obligations and liabilities of each Company under the Security Agreement and the other Ancillary Agreements, to require the Companies, jointly and severally, to make a Default Payment (“"Default Payment”"). The Default Payment shall be 110130% of the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder, under the Security Agreement or any other Ancillary Agreement. The Default Payment. The Default Payment shall be applied first to any fees due and payable to the Holder pursuant to the Note, the Security Agreement and/or the Ancillary Agreements, then to accrued and unpaid interest due on the Note Notes and then to the outstanding principal balance of the Note. [Subject to the last sentence of Section 17 of the Security Agreement, ,] the Default Payment shall be due and payable immediately on the date that the Holder has demanded payment of the Default Payment pursuant to this Section 2.3 and, when received, shall be regarded as payment in full of all amounts due under the Note3.3.

Default Payment. Following the occurrence and during the continuance of an Event of Default, the Holder, at its option, may elect, in addition to all rights and remedies of the Holder under the Security Agreement and the other Ancillary Agreements and all obligations and liabilities of each Company under the Security Agreement and the other Ancillary Agreements, to require the Companies, jointly and severally, to make a Default Payment (“Default Payment”). The Default Payment shall be 110% one hundred twenty-five percent (125%) of the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder, under the Security Agreement or any other Ancillary Agreement. The Default Payment. The Default Payment shall be applied first to any fees due and payable to the Holder pursuant to the NoteNotes, the Security Agreement and/or the Ancillary Agreements, then to accrued and unpaid interest due on the Note Notes and then to the outstanding principal balance of the NoteNotes. Subject to the last sentence of Section 17 of the Security Agreement, the The Default Payment shall be due and payable immediately on the date that the Holder has demanded payment of the Default Payment exercised its rights pursuant to this Section 2.3 and, when received, shall be regarded as payment in full of all amounts due under the Note3.3.

Default Payment. Following the occurrence and during the continuance of an Event of Default, the Holder, at its option, may elect, in addition to all rights and remedies of the Holder under the Security Agreement and the other Ancillary Agreements and all obligations and liabilities of each Company under the Security Agreement and the other Ancillary Agreements, to require the Companies, jointly and severally, to make a Default Payment (“Default Payment”). The Default Payment shall be 110120% of the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder, under the Security Agreement or any other Ancillary Agreement. The Default Payment. The Default Payment shall be applied first to any fees due and payable to the Holder pursuant to the Note, the Security Agreement and/or the Ancillary Agreements, then to accrued and unpaid interest due on the Note Notes and then to the outstanding principal balance of the Note. Subject to the last sentence of Section 17 of the Security Agreement, the Default Payment shall be due and payable immediately on the date that the Holder has demanded payment of the Default Payment pursuant to this Section 2.3 and, when received, shall be regarded as payment in full of all amounts due under the Note2.3.

Default Payment. Following the occurrence and during the continuance of an Event of Default, the Holder, at its option, may elect, in addition to all rights and remedies of the Holder under the Security Agreement and the other Ancillary Agreements and all obligations and liabilities of each Company under the Security Agreement and the other Ancillary Agreements, to require the Companies, jointly and severally, to make a Default Payment (“Default Payment”"DEFAULT PAYMENT"). The Default Payment shall be 110% one hundred thirty percent (130%) of the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder, under the Security Agreement or any other Ancillary Agreement. The Default Payment. The Default Payment shall be applied first to any fees due and payable to the Holder pursuant to the Note, the Security Agreement Notes and/or the Ancillary Agreements, then to accrued and unpaid interest due on the Note Notes, the Security Agreement and then to the outstanding principal balance of the NoteNotes. Subject to the last sentence of Section 17 of the Security Agreement, the The Default Payment shall be due and payable immediately on the date that the Holder has demanded payment of the Default Payment exercised its rights pursuant to this Section 2.3 and, when received, shall be regarded as payment in full of all amounts due under the Note4.3.

Default Payment. Following the occurrence and during the continuance of an Event of Default, the Holder, at its option, may elect, in addition to all rights and remedies of the Holder under the Security Agreement and the other Ancillary Agreements and all obligations and liabilities of each Company under the Security Agreement and the other Ancillary Agreements, to require the Companies, jointly and severally, to make a Default Payment (“"Default Payment”"). The Default Payment shall be 110130% of the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder, under the Security Agreement or any other Ancillary Agreement. The Default Payment. The Default Payment shall be applied first to any fees due and payable to the Holder pursuant to the Note, the Security Agreement and/or the Ancillary Agreements, then to accrued and unpaid interest due on the Note Notes and then to the outstanding principal balance of the Note. Subject to the last sentence of Section 17 of the Security Agreement, the Default Payment shall be due and payable immediately on the date that the Holder has demanded payment of the Default Payment pursuant to this Section 2.3 and, when received, shall be regarded as payment in full of all amounts due under the Note3.3.

Default Payment. Following the occurrence and during the continuance of an Event of Default, the Holder, at its option, may elect, in addition to all rights and remedies of the Holder under the Security Agreement and the other Ancillary Agreements and all obligations and liabilities of each Company under the Security Agreement and the other Ancillary Agreements, to require the Companies, jointly and severally, to make a Default Payment (“"Default Payment”"). The Default Payment shall be 110One Hundred Twenty percent 120% of the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder, under the Security Agreement or any other Ancillary Agreement. The Default Payment. The Default Payment shall be applied first to any fees due and payable to the Holder pursuant to the Note, the Security Agreement Notes and/or the Ancillary Agreements, then to accrued and unpaid interest due on the Note Notes, the Security Agreement and then to the outstanding principal balance of the NoteNotes. Subject to the last sentence of Section 17 of the Security Agreement, the The Default Payment shall be due and payable immediately on the date that the Holder has demanded payment of the Default Payment exercised its rights pursuant to this Section 2.3 and, when received, shall be regarded as payment in full of all amounts due under the Note4.3.

Default Payment. Following the occurrence and during the continuance of an Event of Default, the Holder, at its option, may elect, in addition to all rights and remedies of the Holder under the Security Agreement and the other Ancillary Agreements and all obligations and liabilities of each Company under the Security Agreement and the other Ancillary Agreements, to require the Companies, jointly and severally, to make a Default Payment (“Default Payment”). The Default Payment shall be one hundred ten percent (110% %) of the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder, under the Security Agreement or any other Ancillary Agreement. The Default Payment. The Default Payment shall be applied first to any fees due and payable to the Holder pursuant to the NoteNotes, the Security Agreement and/or the Ancillary Agreements, then to accrued and unpaid interest due on the Note Notes, the Security Agreement and then to the outstanding principal balance of the NoteNotes. Subject to the last sentence of Section 17 of the Security Agreement, the The Default Payment shall be due and payable immediately on the date that the Holder has demanded payment of the Default Payment exercised its rights pursuant to this Section 2.3 and, when received, shall be regarded as payment in full of all amounts due under the Note4.3.

Default Payment. Following the occurrence and during the continuance of an Event of Default, the Holder, at its option, may elect, in addition to all rights and remedies of the Holder under the Security Agreement and the other Ancillary Agreements and all obligations and liabilities of each Company under the Security Agreement and the other Ancillary Agreements, to require the Companies, jointly and severally, to make a Default Payment (“Default Payment”). The Default Payment shall be 110% one hundred thirty percent (130%) of the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder, under the Security Agreement or any other Ancillary Agreement. The Default Payment. The Default Payment shall be applied first to any fees due and payable to the Holder pursuant to the NoteNotes, the Security Agreement and/or the Ancillary Agreements, then to accrued and unpaid interest due on the Note Notes, the Security Agreement and then to the outstanding principal balance of the NoteNotes. Subject to the last sentence of Section 17 of the Security Agreement, the The Default Payment shall be due and payable immediately on the date that the Holder has demanded payment of the Default Payment exercised its rights pursuant to this Section 2.3 and, when received, shall be regarded as payment in full of all amounts due under the Note4.3.

Default Payment. Following the occurrence and during the continuance of an Event of Default, the Holder, at its option, may elect, in addition to all rights and remedies of the Holder under the Security Agreement and the other Ancillary Agreements and all obligations and liabilities of each Company under the Security Agreement and the other Ancillary Agreements, to require the Companies, jointly and severally, to make a Default Payment (“Default Payment”"DEFAULT PAYMENT"). The Default Payment shall be 110% one hundred twenty five (125%) of the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder, under the Security Agreement or any other Ancillary Agreement. The Default Payment. The Default Payment shall be applied first to any fees due and payable to the Holder pursuant to the Note, the Security Agreement Notes and/or the Ancillary Agreements, then to accrued and unpaid interest due on the Note Notes, the Security Agreement and then to the outstanding principal balance of the NoteNotes. Subject to the last sentence of Section 17 of the Security Agreement, the The Default Payment shall be due and payable immediately on the date that the Holder has demanded payment of the Default Payment exercised its rights pursuant to this Section 2.3 and, when received, shall be regarded as payment in full of all amounts due under the Note4.3.

Default Payment. Following the occurrence and during the continuance of an Event of Default, the Holder, at its option, may elect, in addition to all rights and remedies of the Holder under the Security Agreement and the other Ancillary Agreements and all obligations and liabilities of each Company under the Security Agreement and the other Ancillary Agreements, to require the Companies, jointly and severally, to make a Default Payment (“Default Payment”). The Default Payment shall be 110112% of the outstanding principal amount of the this Note, plus accrued but unpaid interestinterest under this Note, all other fees then remaining unpaidarising under this Note, the Security Agreement or any other Ancillary Agreement (other than the Revolving Note and the Term Note), and all other amounts payable hereunder, under the Security Agreement or any other Ancillary Agreement. The Default Payment. The Default Payment shall be applied first to any fees due and payable to the Holder pursuant to the this Note, the Security Agreement and/or the other Ancillary AgreementsAgreements (other than the Revolving Note and the Term Note), then to accrued and unpaid interest due on the this Note and then to the outstanding principal balance of the this Note. Subject to the last sentence of Section 17 , and any remaining balance of the Security Agreement, Default Payment shall be retained by the Holder. The Default Payment shall be due and payable immediately on the date that the Holder has demanded payment of the Default Payment exercised its rights pursuant to this Section 2.3 and, when received, shall be regarded as payment in full of all amounts due under the Note4.3.

Default Payment. Following the occurrence and during the continuance of an Event of DefaultDefault beyond any applicable grace period, the Holder, at its option, may elect, in addition to all rights and remedies of the Holder under the Security Agreement and the other Ancillary Agreements and all obligations and liabilities of each Company under the Security Agreement and the other Ancillary Agreements, to require the Companies, jointly and severally, to make a Default Payment (“Default Payment”). The Default Payment shall be 110% one hundred twenty-five percent (125%) of the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder, under the Security Agreement or any other Ancillary Agreement. The Default Payment. The Default Payment shall be applied first to any fees due and payable to the Holder pursuant to the NoteNotes, the Security Agreement and/or the Ancillary Agreements, then to accrued and unpaid interest due on the Note Notes and then to the outstanding principal balance of the NoteNotes. Subject to the last sentence of Section 17 of the Security Agreement, the The Default Payment shall be due and payable immediately on the date that the Holder has demanded payment of the Default Payment exercised its rights pursuant to this Section 2.3 and, when received, shall be regarded as payment in full of all amounts due under the Note3.3.

Default Payment. Following the occurrence and during the continuance of an Event of Default, the Holder, at its option, may elect, acting reasonably and in good faith, in addition to all rights and remedies of the Holder under the Security and Purchase Agreement and the other Ancillary Agreements and all obligations and liabilities of each the Company under the Security and Purchase Agreement and the other Ancillary Agreements, to require the Companies, jointly and severally, Company to make a Default Payment (“"Default Payment”"). The Default Payment shall be 110% one hundred thirty percent (130%) of the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder, under the Security Agreement or any other Ancillary Agreement. The Default Payment. The Default Payment shall be applied first to any fees due and payable to the Holder pursuant to the NoteNotes, the Security and Purchase Agreement and/or the Ancillary Agreements, SECURED REVOLVING NOTE then to accrued and unpaid interest due on the Note Notes and then to the outstanding principal balance of the NoteNotes. Subject to the last sentence of Section 17 of the Security Agreement, the The Default Payment shall be due and payable immediately on the date that the Holder has demanded payment of the Default Payment exercised its rights pursuant to this Section 2.3 and, when received, shall be regarded as payment in full of all amounts due under the Note4.3.

Default Payment. Following the occurrence and during the continuance of an Event of Default, the Holder, at its option, may elect, in addition to all rights and remedies of the Holder under the Security Agreement and the other Ancillary Agreements and all obligations and liabilities of each Company the Parent under the Security Agreement and the other Ancillary Agreements, to accelerate the maturity of all amounts due hereunder and to require the Companies, jointly and severally, to make a Default Payment payment in full of such amounts within thirty (30) days (“Default Payment”). The Default Payment shall be 110% one hundred twenty percent (120%) of the outstanding principal amount of the Note, plus accrued but unpaid interest, interest and all other fees then remaining unpaid, and all other amounts payable hereunder, under the Security Agreement or any other Ancillary Agreement. The Default Payment. The Default Payment shall be applied first to any fees due and payable to the Holder pursuant to the Note, the Security Agreement and/or the Ancillary Agreements, then to accrued and unpaid interest due on the Note Notes and then to the outstanding principal balance of the Note. Subject to the last sentence of Section 17 of the Security Agreement, the The Default Payment shall be due and payable immediately on the date that the Holder has demanded payment of the Default Payment pursuant to this Section 2.3 and, when received, shall be regarded as payment in full of all amounts due under the Note2.3.

Default Payment. Following the occurrence and during the continuance of an Event of Default, the Holder, at its option, may elect, in addition to all rights and remedies of the Holder under the Security Agreement and the other Ancillary Agreements and all obligations and liabilities of each Company under the Security Agreement and the other Ancillary Agreements, to require the Companies, jointly and severally, to make a Default Payment (“Default Payment”). The Default Payment shall be 110128% of the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder, under the Security Agreement or any other Ancillary Agreement. The Default Payment. The Default Payment shall be applied first to any fees due and . 06/30/2005 5 payable to the Holder pursuant to the NoteNotes, the Security Agreement and/or the Ancillary Agreements, then to accrued and unpaid interest due on the Note Notes and then to the outstanding principal balance of the NoteNotes. Subject to the last sentence of Section 17 of the Security Agreement, the The Default Payment shall be due and payable immediately on the date that the Holder has demanded payment of the Default Payment exercised its rights pursuant to this Section 2.3 and, when received, shall be regarded as payment in full of all amounts due under the Note3.3.

Default Payment. Following the occurrence and during the continuance of an Event of Default, the Holder, at its option, may elect, in addition to all rights and remedies of the Holder under the Security Agreement and the other Ancillary Agreements and all obligations and liabilities of each Company under the Security Agreement and the other Ancillary Agreements, to require the Companies, jointly and severally, to make a Default Payment (“"Default Payment”"). The Default Payment shall be 110One Hundred Twenty percent 120% of the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder, under the Security Agreement or any other Ancillary Agreement. The Default Payment. The Default Payment shall be applied first to any fees due and payable to the Holder pursuant to the NoteNotes , the Security Agreement and/or the Ancillary Agreements, then to accrued and unpaid interest due on the Note Notes and then to the outstanding principal balance of the NoteNotes. Subject to the last sentence of Section 17 of the Security Agreement, the The Default Payment shall be due and payable immediately on the date that the Holder has demanded payment of the Default Payment exercised its rights pursuant to this Section 2.3 and, when received, shall be regarded as payment in full of all amounts due under the Note3.3.

Default Payment. Following the occurrence and during the continuance of an Event of Default, the Holder, at its option, may elect, in addition to all rights and remedies of the Holder under the Security Agreement and the other Ancillary Agreements and all obligations and liabilities of each Company under the Security Agreement and the other Ancillary Agreements, to require the Companies, jointly and severally, to make a Default Payment (“Default Payment”"DEFAULT PAYMENT"). The Default Payment shall be 110one hundred thirty percent 130% of the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder, under the Security Agreement or any other Ancillary Agreement. The Default Payment. The Default Payment shall be applied first to any fees due and payable to the Holder pursuant to the NoteNotes, the Security Agreement and/or the Ancillary Agreements, then to accrued and unpaid interest due on the Note Notes and then to the outstanding principal balance of the NoteNotes. Subject to the last sentence of Section 17 of the Security Agreement, the The Default Payment shall be due and payable immediately on the date that the Holder has demanded payment of the Default Payment exercised its rights pursuant to this Section 2.3 and, when received, shall be regarded as payment in full of all amounts due under the Note3.3.

Default Payment. Following the occurrence and during the continuance of an Event of Default, the Holder, at its option, may elect, in addition to all rights and remedies of the Holder under the Security Agreement and the other Ancillary Agreements and all obligations and liabilities of each Company under the Security Agreement and the other Ancillary Agreements, to require the Companies, jointly and severally, to make a Default Payment (“Default Payment”). The Default Payment shall be 110% one hundred thirty percent (130%) of the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder, under the Security Agreement or any other Ancillary Agreement. The Default Payment. The Default Payment shall be applied first to any fees due and payable to the Holder pursuant to the Note, the Security Agreement Notes and/or the Ancillary Agreements, then to accrued and unpaid interest due on the Note Notes, the Security Agreement and then to the outstanding principal balance of the NoteNotes. Subject to the last sentence of Section 17 of the Security Agreement, the The Default Payment shall be due and payable immediately on the date that the Holder has demanded payment of the Default Payment pursuant to this Section 2.3 and, when received, shall be regarded as payment in full of all amounts due under the Note4.3.

Default Payment. Following the occurrence and during the continuance of an Event of Default, the Holder, at its option, may electelect (after providing written notice to the Companies), in addition to all rights and remedies of the Holder under the Security Agreement and the other Ancillary Agreements and all obligations and liabilities of each Company under the Security Agreement and the other Ancillary Agreements, to require the Companies, jointly and severally, to make a Default Payment (“Default Payment”). The Default Payment shall be one hundred ten Amended and Restated Secured Convertible Term Note percent (110% %) of the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder, under the Security Agreement or any other Ancillary Agreement. The Default Payment. The Default Payment shall be applied first to any fees due and payable to the Holder pursuant to the Note, the Security Agreement Notes and/or the Ancillary Agreements, then to accrued and unpaid interest due on the Note Notes, the Security Agreement and then to the outstanding principal balance of the NoteNotes. Subject to the last sentence of Section 17 of the Security Agreement, the The Default Payment shall be due and payable immediately on the date that the Holder has demanded payment of the Default Payment pursuant to this Section 2.3 and, when received, shall be regarded as payment in full of all amounts due under the Note4.3.

Default Payment. Following the occurrence and during the continuance of an Event of Default, the Holder, at its option, may elect, in addition to all rights and remedies of the Holder under the Security Agreement and the other Ancillary Agreements and all obligations and liabilities of each Company under the Security Agreement and the other Ancillary Agreements, to require the Companies, jointly and severally, to make a Default Payment (“Default Payment”). The Default Payment shall be one hundred ten percent (110% %) of the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder, under the Security Agreement or any other Ancillary Agreement. The Default Payment. The Default Payment shall be applied first to any fees due and payable to the Holder pursuant to the NoteNotes, the Security Agreement and/or the Ancillary Agreements, then to accrued and unpaid interest due on the Note Notes and then to the outstanding principal balance of the NoteNotes. Subject to the last sentence of Section 17 of the Security Agreement, the The Default Payment shall be due and payable immediately on the date that the Holder has demanded payment of the Default Payment exercised its rights pursuant to this Section 2.3 and, when received, shall be regarded as payment in full of all amounts due under the Note3.3.

Default Payment. Following the occurrence and during the continuance of an Event of Default, the Holder, at its option, may elect, in addition to all rights and remedies of the Holder under the Security Agreement and the other Ancillary Agreements and all obligations and liabilities of each Company under the Security Agreement and the other Ancillary Agreements, to require the Companies, jointly and severally, to make a Default Payment (“"Default Payment”"). The Default Payment shall be 110% one hundred fifteen percent (115%) of the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder, under the Security Agreement or any other Ancillary Agreement. The Default Payment. The Default Payment shall be applied first to any fees due and payable to the Holder pursuant to the Note, the Security Agreement and/or the Ancillary Agreements, then to accrued and unpaid interest due on the Note Notes and then to the outstanding principal balance of the Note. Subject to the last sentence of Section 17 of the Security Agreement, the Default Payment shall be due and payable immediately on the date that the Holder has demanded payment of the Default Payment pursuant to this Section 2.3 and, when received, shall be regarded as payment in full of all amounts due under the Note2.3.

Default Payment. Following the occurrence and during the continuance of an Event of Default, the Holder, at its option, may demand repayment in full of all Obligations and/or may elect, in addition to all rights and remedies of the Holder under the Security Agreement and the other Ancillary Agreements and all obligations and liabilities Obligations of each Company the Companies under the Security Agreement and the other Ancillary Agreements, to require the Companies, jointly and severally, Company to make a Default Payment (“"Default Payment”"). The Default Payment shall be 110130% of the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder, under the Security Agreement or any other Ancillary Agreement. The Default Payment. The Default Payment shall be applied first to any fees due and payable to the Holder pursuant to the NoteNotes, the Security Agreement Agreement, and/or the other Ancillary Agreements, then to accrued and unpaid interest due on the Note Notes and then to the outstanding principal balance of the NoteNotes. Subject to the last sentence of Section 17 of the Security Agreement, the The Default Payment shall be due and payable immediately on the date that the Holder has demanded payment of the Default Payment exercised its rights pursuant to this Section 2.3 and, when received, shall be regarded as payment in full of all amounts due under the Note4.3.

Default Payment. Following the occurrence and during the continuance of an Event of Default, the Holder, at its option, may elect, in addition to all rights and remedies of the Holder under the Security Agreement and the other Ancillary Agreements and all obligations and liabilities of each Company under the Security Agreement and the other Ancillary Agreements, to require the Companies, jointly and severally, to make a Default Payment (“Default Payment”). The Default Payment shall be 110% one hundred thirty percent (130%) of the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder, under the Security Agreement or any other Ancillary Agreement. The Default Payment. The Default Payment shall be applied first to any fees due and payable to the Holder pursuant to the NoteNotes, the Security Agreement and/or the Ancillary Agreements, then to accrued and unpaid interest due on the Note Notes and then to the outstanding principal balance of the NoteNotes. Subject to the last sentence of Section 17 of the Security Agreement, the The Default Payment shall be due and payable immediately on the date that the Holder has demanded payment of the Default Payment exercised its rights pursuant to this Section 2.3 and, when received, shall be regarded as payment in full of all amounts due under the Note3.3.

Default Payment. Following the occurrence and during the continuance of an Event of Default, the Holder, at its option, may elect, in addition to all rights and remedies of the Holder under the Security Agreement and the other Ancillary Agreements and all obligations and liabilities of each Company under the Security Agreement and the other Ancillary Agreements, to require the Companies, jointly and severally, to make a Default Payment (“Default Payment”). The Default Payment shall be 110% one hundred thirty percent (130%) of the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder, under the Security Agreement or any other Ancillary Agreement. The Default Payment. The Default Payment shall be applied first to any fees due and payable to the Holder pursuant to the Note, the Security Agreement and/or the Ancillary Agreements, then to accrued and unpaid interest due on the Note Notes and then to the outstanding principal balance of the Note. Subject to the last sentence of Section 17 of the Security Agreement, the The Default Payment shall be due and payable immediately on the date that the Holder has demanded payment of the Default Payment pursuant to this Section 2.3 and, when received, shall be regarded as payment in full of all amounts due under the Note2.3.

Default Payment. Following the occurrence and during the continuance of an Event of Default, the Holder, at its option, may elect., in addition to all rights and remedies of the Holder under the Security Agreement and the other Ancillary Agreements and all obligations and liabilities of each Company under the Security Agreement and the other Ancillary Agreements, to terminate the Security Agreement pursuant to Section 17 thereof and require the Companies, jointly and severally, to make a Default Payment (“"Default Payment”"). The Default Payment shall be 110% one hundred twenty percent (120%) of the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder, under the Security Agreement or any other Ancillary Agreement. The Default Payment. The Default Payment shall be applied first to any fees due and payable to the Holder pursuant to the Note, the Security Agreement Notes and/or the Ancillary Agreements, then to accrued and unpaid interest due on the Note Notes, the Security Agreement and then to the outstanding principal balance of the NoteNotes. Subject to the last sentence of Section 17 of the Security Agreement, the The Default Payment shall be due and payable immediately on the date that the Holder has demanded payment of the Default Payment exercised its rights pursuant to this Section 2.3 and, when received, shall be regarded as payment in full of all amounts due under the Note4.3.

Default Payment. Following the occurrence and during the continuance of an Event of Default, the Holder, at its option, may elect, in addition to all rights and remedies of the Holder under the Security Agreement and the other Ancillary Agreements and all obligations and liabilities of each Company under the Security Agreement and the other Ancillary Agreements, to require the Companies, jointly and severally, to make a Default Payment (“Default Payment”). The Default Payment shall be 110% one hundred twenty-five percent (125%) of the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder, under the Security Agreement or any other Ancillary Agreement. The Default Payment. The Default Payment shall be applied first to any fees due and payable to the Holder pursuant to the Note, the Security Agreement Notes and/or the Ancillary Agreements, then to accrued and unpaid interest due on the Note Notes, the Security Agreement and then to the outstanding principal balance of the NoteNotes. Subject to the last sentence of Section 17 of the Security Agreement, the The Default Payment shall be due and payable immediately on the date that the Holder has demanded payment of the Default Payment exercised its rights pursuant to this Section 2.3 and, when received, shall be regarded as payment in full of all amounts due under the Note4.3.

Default Payment. Following the occurrence and during the continuance of an Event of Default, the Holder, at its option, may elect, in addition to all rights and remedies of the Holder under the Security Agreement and the other Ancillary Agreements and all obligations and liabilities of each Company under the Security Agreement and the other Ancillary Agreements, to require the Companies, jointly and severally, to make a Default Payment (“"Default Payment”"). The Default Payment shall be 110% one hundred twenty percent (120%) of the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder, under the Security Agreement or any other Ancillary Agreement. The Default Payment. The Default Payment shall be applied first to any fees due and payable to the Holder pursuant to the NoteNotes, the Security Agreement and/or the Ancillary Agreements, then to accrued and unpaid interest due on the Note Notes and then to the outstanding principal balance of the NoteNotes. Subject to the last sentence of Section 17 of the Security Agreement, the The Default Payment shall be due and payable immediately on the date that the Holder has demanded payment of the Default Payment exercised its rights pursuant to this Section 2.3 and, when received, shall be regarded as payment in full of all amounts due under the Note3.3.

Default Payment. Following the occurrence and during the continuance of an Event of Default, the Holder, at its option, may demand repayment in full of all Obligations and/or may elect, in addition to all rights and remedies of the Holder under the Security Agreement and the other Ancillary Agreements and all obligations and liabilities Obligations of each Company the Companies under the Security Agreement and the other Ancillary Agreements, to require the Companies, jointly and severally, Company to make a Default Payment (“Default Payment”"DEFAULT PAYMENT"). The Default Payment shall be 110% of 130%of the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder, under the Security Agreement or any other Ancillary Agreement. The Default Payment. The Default Payment shall be applied first to any fees due and payable to the Holder pursuant to the NoteNotes, the Security Agreement Agreement, and/or the other Ancillary Agreements, then to accrued and unpaid interest due on the Note Notes and then to the outstanding principal balance of the NoteNotes. Subject to the last sentence of Section 17 of the Security Agreement, the The Default Payment shall be due and payable immediately on the date that the Holder has demanded payment of the Default Payment exercised its rights pursuant to this Section 2.3 and, when received, shall be regarded as payment in full of all amounts due under the Note4.3.