Common use of Effects of Default Clause in Contracts

Effects of Default. If an Event of Default occurs and is continuing, then and in every such case the Holder may declare the Debenture to be due and payable immediately, by a notice in writing to the Company, and upon any such declaration, the Company shall pay to the Holder the outstanding principal amount of the Debenture plus all accrued and unpaid interest through the date the Debenture is paid in full.

Effects of Default. If an Event of Default occurs and is continuing, then and in every such case (a) the Holder may declare the this Debenture to be due and payable immediately, by a notice in writing to the Company, and upon any such declaration, the Company shall pay to the Holder the outstanding principal amount of Outstanding Balance, or (b) the Debenture plus all accrued and unpaid interest through Holder may take any other action available to it under the date the Debenture is paid in full.Operative Documents, by law or otherwise. 29475775

Effects of Default. If an Event of Default occurs and is continuing, then and in every such case (a) the Holder may declare the this Debenture to be due and payable immediately, by a notice in writing to the Company, and upon any such declaration, the Company shall pay to the Holder the outstanding principal amount of Outstanding Balance, or (b) the Debenture plus all accrued and unpaid interest through Holder may take any other action available to it under the date the Debenture is paid in fullOperative Documents, by law or otherwise.