Interest Payment Default. An “Interest Payment Default” shall exist if the Company fails to make a payment when the same shall become due pursuant to Section 2.2 hereof and such failure continues for seven Business Days after the Noteholder has provided the Company with notice, in accordance with Section 6.2 hereof, of such failure. In the event of an Interest Payment Default the remedies of the Noteholder shall be as provided in the Collaboration Agreement.
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Sources: Collaboration Agreement (pSivida Corp.), Collaboration Agreement (Alimera Sciences Inc), Collaboration Agreement (Alimera Sciences Inc)
Interest Payment Default. An “Interest Payment Default” shall exist if the Company fails to make a payment when the same shall become due pursuant to Section 2.2 0 hereof and such failure continues for seven Business Days after the Noteholder has provided the Company with notice, in accordance with Section 6.2 hereof, of such failure. In the event of an Interest Payment Default the remedies of the Noteholder shall be as provided in the Collaboration Agreement.
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