Common use of Default Under Agreement Clause in Contracts

Default Under Agreement. If the Company at any time while this Warrant is outstanding and unexpired shall fail to make a payment as provided in Sections 8 or 14 of the Agreement, then the Purchaser shall have the unfettered option to deliver written notice to the Company at any time thereafter: (i) informing the Company of such failure, and (ii) instructing the Company that it has 30 days from the date of receipt of such notice to tender payment to the Purchaser, of either (at the unfettered option of the Purchaser) the amount that the Company failed to pay, or such other amount as is then due pursuant the Agreement, including any accelerated amounts. In the event the Company fails to make the payment within such 30 day period, the Warrant Price shall automatically, and with no further action required by any party, be reduced to $.01 per share. This Section 4(e) shall act independent of, and have no effect on the rights and remedies provided in the Agreement. The Purchaser's failure to exercise the right provided in this Section 4(e) shall in no way constitute a waiver of this right or a waiver of any of its rights under the Agreement.

Default Under Agreement. If the Company at any time while this Warrant is outstanding and unexpired shall fail to make a payment as provided in Sections 8 or 14 of the Agreement, then the Purchaser shall have the unfettered option to deliver written notice to the Company at any time thereafter: (i) informing the Company of such failure, and (ii) instructing the Company that it has 30 days from the date of receipt of such notice to tender payment to the Purchaser, of either (at the unfettered option of the Purchaser) the amount that the Company failed to pay, or such other amount as is then due pursuant the Agreement, including any accelerated amounts. In the event the Company fails to make the payment within such 30 day period, the Warrant Price shall automatically, and with no further action required by any party, be reduced to $.01 0.O1 per share. This Section 4(e) shall act independent of, and have no effect on the rights and remedies provided in the Agreement. The Purchaser's failure to exercise the right provided in this Section 4(e) shall in no way constitute a waiver of this right or a waiver of any of its rights under the Agreement.

Default Under Agreement. If the Company at any time while this Warrant is outstanding and unexpired shall fail to make a payment as provided in Sections 8 or 14 of the Agreement, then the Purchaser shall have the unfettered option to deliver written notice to the Company at any time thereafter: (i) informing the Company of such failure, and (ii) instructing the Company that it has 30 days from the date of receipt of such notice to tender payment to the Purchaser, of either (at the unfettered option of the Purchaser) the amount that the Company failed to pay, or such other amount as is then due pursuant the Agreement, including any accelerated amounts. In the event the Company fails to make the payment within such 30 day period, the Warrant Price shall automatically, and with no further action required by any party, be reduced to $.01 .O1 per share. This Section 4(e) shall act independent of, and have no effect on the rights and remedies provided in the Agreement. The Purchaser's failure to exercise the right provided in this Section 4(e) shall in no way constitute a waiver of this right or a waiver of any of its rights under the Agreement.