Common use of Failure to Pay Note Clause in Contracts

Failure to Pay Note. The Company fails to pay (a) principal on any Note when due, whether at a stated payment date, or a date fixed by the Company for prepayment or by acceleration, or (b) interest on any Note, or any fee or other amount payable hereunder, when due and such default in payment of interest, fees or other amounts continues uncured for a period of five days; or

Failure to Pay Note. The Company fails to pay (ai) principal on any the Note when duethe same becomes due and payable, whether at a stated payment date, or a date fixed by the Company for prepayment or by acceleration, acceleration or (bii) interest on any the Note, or any fee or other amount payable hereunder, when due the same becomes payable and such default in payment of failure to timely pay interest, fees such fee or other amounts amount continues uncured for a period of five ten (10) days; or