Financial Information Default. Without affecting Laurus’ other rights and remedies, in the event any Company fails to deliver the financial information required by Section 11 on or before the date required by this Agreement, the Companies shall jointly and severally pay Laurus an aggregate fee in the amount of $500.00 per week (or portion thereof) for each such failure until such failure is cured to Laurus’ satisfaction or waived in writing by Laurus. All amounts that are incurred pursuant to this Section 5(b)(iv) shall be due and payable by the Companies monthly, in arrears, on the first business of each calendar month and upon expiration of the Term.
Appears in 9 contracts
Samples: Security and Purchase Agreement (360 Global Wine Co), Security and Purchase Agreement (Naturade Inc), Security Agreement (Accentia Biopharmaceuticals Inc)
Financial Information Default. Without affecting Laurus’ other rights and remedies, in the event any Company fails to deliver the financial information required by Section 11 on or before the date required by this Agreement, the Companies shall jointly and severally pay Laurus an aggregate fee in the amount of $500.00 per week (or portion thereof) for each such failure until such failure is cured to Laurus’ satisfaction or waived in writing by Laurus. All amounts that are incurred pursuant to this Section 5(b)(iv5(b)(iii) shall be due and payable by the Companies monthly, in arrears, on the first business of each calendar month and upon expiration of the Term.
Appears in 5 contracts
Samples: Security Agreement (Path 1 Network Technologies Inc), Security Agreement (Stonepath Group Inc), Security and Purchase Agreement (Stockeryale Inc)
Financial Information Default. Without affecting Laurus’ ' other rights and remedies, in the event any Company fails to deliver the financial information required by Section 11 on or before the date required by this Agreement, the Companies shall jointly and severally pay Laurus an aggregate fee in the amount of $500.00 per week (or portion thereof) for each such failure until such failure is cured to Laurus’ ' satisfaction or waived in writing by Laurus. All amounts that are incurred pursuant to this Section 5(b)(iv5(b)(iii) shall be due and payable by the Companies monthly, in arrears, on the first business of each calendar month and upon expiration of the Term.
Appears in 4 contracts
Samples: Security and Purchase Agreement (Proxymed Inc /Ft Lauderdale/), Security Agreement (Netfabric Holdings, Inc), Security and Purchase Agreement (Xstream Beverage Network, Inc.)
Financial Information Default. Without affecting Laurus’ ' other rights and remedies, in the event any Company fails to deliver the financial information required by Section 11 on or before the date required by this Agreement, the Companies shall jointly and severally pay Laurus an aggregate fee in the amount of $US$500.00 per week (or portion thereof) for each such failure until such failure is cured to Laurus’ ' satisfaction or waived in writing by Laurus. All amounts that are incurred pursuant to this Section 5(b)(iv) shall be due and payable by the Companies monthly, in arrears, on the first business of each calendar month and upon expiration of the Term.
Appears in 2 contracts
Samples: Security Agreement (Thinkpath Inc), Security Agreement (Thinkpath Inc)
Financial Information Default. Without affecting Laurus’ ' other rights and remedies, in the event any Company fails to deliver the financial information required by Section 11 on or before the date required by this Agreement, the Companies shall jointly and severally pay Laurus an aggregate fee in the amount of $500.00 200.00 per week (or portion thereof) for each such failure until such failure is cured to Laurus’ ' satisfaction or waived in writing by Laurus. All amounts that are incurred pursuant to this Section 5(b)(iv5(b)(iii) shall be due and payable by the Companies monthly, in arrears, on the first business of each calendar month and upon expiration of the Term, if not previously paid.
Appears in 2 contracts
Samples: Security Agreement (Pacific Cma Inc), Security Agreement (Pacific Cma Inc)
Financial Information Default. Without affecting Laurus’ Lender’s other rights and remedies, in the event any Company fails to deliver the financial information required by Section 11 on or before the date required by this Agreement, the Companies shall jointly and severally pay Laurus Lender an aggregate fee in the amount of $500.00 per week (or portion thereof) for each such failure until such failure is cured to Laurus’ Lender’s satisfaction or waived in writing by LaurusLender. All amounts that are incurred pursuant to this Section 5(b)(iv5(b)(iii) shall be due and payable by the Companies monthly, in arrears, on the first business of each calendar month and upon expiration of the Term.
Appears in 2 contracts
Samples: Security Agreement (Applied Digital Solutions Inc), Security Agreement (Digital Angel Corp)
Financial Information Default. Without affecting Laurus’ ' other rights and remedies, in the event any Company fails to deliver the financial information required by Section 11 on or before the date required by this Agreement, the Companies shall jointly and severally pay Laurus an aggregate fee in the amount of $500.00 per week (or portion thereof) for each such failure until such failure is cured to Laurus’ ' satisfaction or waived in writing by Laurus. All amounts that are incurred pursuant to this Section 5(b)(iv) shall be due and payable by the Companies monthly, in arrears, on the first business of each calendar month and upon expiration of the Term.
Appears in 2 contracts
Samples: Security and Purchase Agreement (Naturade Inc), Security and Purchase Agreement (Greenman Technologies Inc)
Financial Information Default. Without affecting Laurus’ other rights and remedies, in the event any Company fails to deliver the financial information required by Section 11 on or before the date required by this Agreement, the Companies shall jointly and severally pay Laurus an aggregate fee in the amount of $500.00 150.00 per week (or portion thereof) for each such failure until such failure is cured to Laurus’ satisfaction or waived in writing by Laurus. All amounts that are incurred pursuant to this Section 5(b)(iv5(b)(iii) shall be due and payable by the Companies monthly, in arrears, on the first business of each calendar month and upon expiration of the Term.
Appears in 2 contracts
Samples: Security Agreement (Impart Media Group Inc), Security Agreement (Verso Technologies Inc)
Financial Information Default. Without affecting Laurus’ ' other rights and remedies, in the event any Company fails to deliver the financial information required by Section 11 on or before the date required by this Agreement, the Companies shall jointly and severally pay Laurus an aggregate fee in the amount of $500.00 250.00 per week (or portion thereof) for each such failure until such failure is cured to Laurus’ ' satisfaction or waived in writing by Laurus. All amounts that are incurred pursuant to this Section 5(b)(iv) shall be due and payable by the Companies monthly, in arrears, on the first business of each calendar month and upon expiration of the Term.
Appears in 2 contracts
Samples: Security Agreement (General Environmental Management, Inc), Security Agreement (American Technologies Group Inc)
Financial Information Default. Without affecting Laurus’ other rights and remedies, in the event any Company fails to deliver the financial information required by Section 11 on or before the date required by this Agreement, the Companies shall jointly and severally pay Laurus an aggregate fee in the amount of $500.00 250.00 per week (or portion thereof) for each such failure until such failure is cured to Laurus’ satisfaction or waived in writing by Laurus. All amounts that are incurred pursuant to this Section 5(b)(iv) shall be due and payable by the Companies monthly, in arrears, on the first business of each calendar month and upon expiration of the Term.
Appears in 2 contracts
Samples: Security Agreement (American Technologies Group Inc), Security Agreement (Iwt Tesoro Corp)
Financial Information Default. Without affecting Laurus’ ' other rights and remedies, in the event any Company fails to deliver the financial information required by Section 11 on or before the date required by this Agreement, the Companies shall jointly and severally pay Laurus an aggregate fee in the amount of $500.00 per week (or portion thereof) for each such failure until such failure is cured to Laurus’ ' satisfaction or waived in writing by Laurus. All amounts that are incurred pursuant to this Section 5(b)(iv5(b)(iii) shall be due and payable by the Companies monthly, in arrears, on the first business day of each calendar month and upon expiration of the Term.
Appears in 2 contracts
Samples: Security Agreement (RG America, Inc.), Security Agreement (RG America, Inc.)
Financial Information Default. Without affecting Laurus’ ' other rights and remedies, in the event any Company fails to deliver the financial information required by Section 11 on or before the date required by this Agreement, the Companies shall jointly and severally pay Laurus an aggregate fee in the amount of $500.00 250.00 per week (or portion thereof) for each such failure until such failure is cured to Laurus’ ' satisfaction or waived in writing by Laurus. All amounts that are incurred pursuant to this Section 5(b)(iv5(b)(iii) shall be due and payable by the Companies monthly, in arrears, on the first business of each calendar month and upon expiration of the Term.
Appears in 1 contract
Samples: Security Agreement (Gse Systems Inc)
Financial Information Default. Without affecting Laurus’ other rights and remedies, in the event any Company fails to deliver the financial information required by Section 11 on or before the date required by this Agreement, the Companies shall jointly and severally pay Laurus an aggregate fee in the amount of $500.00 per week (or portion thereof) for each such failure until such failure is cured to Laurus’ satisfaction or waived in writing by Laurus. All amounts that are incurred pursuant to this Section 5(b)(iv5(b)(iii) shall be due and payable by the Companies monthly, in arrears, on the first business of each calendar month and upon the later of (x) the expiration of the TermRevolving Term and (y) the Maturity Date (as defined in the Secured Non-Convertible Term Note).
Appears in 1 contract
Samples: Security and Purchase Agreement (Micro Component Technology Inc)
Financial Information Default. Without affecting Laurus’ ' other rights and remedies, in the event any Company fails to deliver the financial information required by Section 11 on or before the date required by this Agreement, the Companies shall jointly and severally pay Laurus an aggregate fee in the amount of $500.00 150.00 per week (or portion thereof) for each such failure until such failure is cured to Laurus’ ' satisfaction or waived in writing by Laurus. All amounts that are incurred pursuant to this Section 5(b)(iv) shall be due and payable by the Companies monthly, in arrears, on the first business of each calendar month and upon expiration of the Term.
Appears in 1 contract
Financial Information Default. Without affecting Laurus’ other rights and remedies, in the event any Company fails to deliver the financial information required by Section 11 on or before the date required by this Agreement, the Companies shall jointly and severally pay Laurus an aggregate fee in the amount of $500.00 per week (or portion thereof) for each such failure until such failure is cured to Laurus’ satisfaction or waived in writing by Laurus. All amounts that are incurred pursuant to this Section 5(b)(iv5(b)(iii) shall be due and payable by the Companies monthly, in arrears, on the first business of each calendar month and upon expiration of the TermTerm and on the Maturity Date (as defined in the Secured Convertible Term Note).
Appears in 1 contract
Financial Information Default. Without affecting Laurus’ ' other rights and remedies, in the event any Company fails to deliver the financial information required by Section 11 on or before the date required by this Agreement, the Companies shall jointly and severally pay Laurus an aggregate fee in the amount of $500.00 150.00 per week (or portion thereof) for each such failure until such failure is cured to Laurus’ ' satisfaction or waived in writing by Laurus. All amounts that are incurred pursuant to this Section 5(b)(iv5(b)(iii) shall be due and payable by the Companies monthly, in arrears, on the first business of each calendar month and upon expiration of the Term.
Appears in 1 contract
Financial Information Default. Without affecting Laurus’ ' other rights and remedies, in the event any Company fails to deliver the financial information required by Section 11 on or before the date required by this Agreement, the Companies shall jointly and severally pay Laurus an aggregate fee in the amount of $500.00 300.00 per week (or portion thereof) for each such failure until such failure is cured to Laurus’ ' satisfaction or waived in writing by Laurus. All amounts that are incurred pursuant to this Section 5(b)(iv) shall be due and payable by the Companies monthly, in arrears, on the first business of each calendar month and upon expiration of the Term.
Appears in 1 contract