Exchange Default. If the Company fails to consummate the Exchange by thirty (30) days from the date hereof for any reason (other than the failure of a Purchaser to deliver a Temporary Note when reasonably requested in connection with the Exchange) (an “Exchange Default”), then, as liquidated damages for such Exchange Default, in addition to the 5½ % base interest, the Temporary Notes shall accrue at a per annum rate of 5% from the date of such Exchange Default until the Exchange is consummated.
Exchange Default. Exchange hereby acknowledges the following to the Escrow Agent,
Exchange Default. The Contracting Party will be entitled in the event of a Failure to Deliver, Failure to Take or Exchange Default by Exchange to file with the Escrow Agent the Contracting Party's Demand pursuant to, and as defined in, the Deposit Agreement after the expiry of five Business Days from the occurrence of such event. In the event that the Contracting Party files with the Escrow Agent the Contracting Party's Demand, Exchange will be entitled to file with the Escrow Agent the Notice Not To Pay pursuant to, and as defined in, the Deposit Agreement in the event that:
