Non-Payment of Senior Loans Sample Clauses

Non-Payment of Senior Loans. The Borrower shall (a) fail to pay when due any principal of any Senior Loans (unless (i) such failure is caused by an administrative or technical error and (ii) payment is made within three Business Days of its due date), or (b) fail to pay when due any interest in respect of the Senior Loans, and such failure continues unremedied for a period of three Business Day.
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Related to Non-Payment of Senior Loans

  • Repayment of Notes Each of the parties hereto agrees that all repayments of the Notes (including any accrued interest thereon) by the Company (other than by conversion of the Notes) will be paid pro rata to the holders thereof based upon the principal amount then outstanding to each of such holders.

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