Common use of Payment Default Clause in Contracts

Payment Default. If Borrower fails to pay any of the Obligations within 3 days after their due date. During the additional period the failure to cure the default is not an Event of Default (but no Advance will be made during the cure period);

Appears in 6 contracts

Samples: Loan and Security Agreement (Legato Systems Inc), Loan and Security Agreement (Taser International Inc), Loan and Security Agreement (Pharsight Corp)

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Payment Default. If Borrower fails to pay any of the Obligations within 3 5 days after their due date. During the additional period the failure to cure the default is not an Event of Default (but no Advance Credit Extension will be made during the cure period);

Appears in 5 contracts

Samples: Loan and Security Agreement (Optio Software Inc), Loan Modification Agreement (Synaptics Inc), Loan and Security Agreement (Synaptics Inc)

Payment Default. If Borrower fails to pay any of the Obligations within 3 5 days after their due date. During the additional period the failure to cure the default is not an Event of Default (but no Advance Credit Extensions will be made during the cure period);

Appears in 4 contracts

Samples: Loan and Security Agreement (Hearme), Loan and Security Agreement (Hearme), Loan Agreement (Advanced Energy Industries Inc)

Payment Default. If Borrower fails to pay any of the Obligations within 3 days after their due date. During the such additional 3 day period the failure to cure the such payment default is not an Event of Default hereunder (but no Advance Credit Extension will be made during the cure period);

Appears in 3 contracts

Samples: Loan and Security Agreement (Senorx Inc), Loan and Security Agreement (Vascular Solutions Inc), Loan Agreement (Ats Medical Inc)

Payment Default. If Borrower fails to pay any of the Obligations within 3 days after their due date. During the additional period the failure to cure the default is not an Event of Default (but no Advance Credit Extensions will be made during the cure period);

Appears in 3 contracts

Samples: Loan and Security Agreement (Sigmatel Inc), Intellectual Property Security Agreement (Perficient Inc), Loan and Security Agreement (Nuance Communications)

Payment Default. If Borrower fails to pay any of the Obligations within 3 three (3) days after their due date. During such three (3) day period after the additional period due date of the payment of any Obligations, the failure to cure the default is not an Event of Default (but no Advance Credit Extension will be made during the such three (3) day cure period);

Appears in 3 contracts

Samples: Loan and Security Agreement (Ramtron International Corp), Loan and Security Agreement (Ramtron International Corp), Loan and Security Agreement (Ramtron International Corp)

Payment Default. If Borrower fails Borrowers fail to pay any of the Obligations within 3 days after their due date. During the additional period the failure to cure the default is not an Event of Default (but no Advance Credit Extension will be made during the cure period);

Appears in 2 contracts

Samples: Term Loan and Security Agreement (Allied Motion Technologies Inc), Loan and Security Agreement (Xenogen Corp)

Payment Default. If Borrower fails Borrowers fail to pay any of the Obligations when due within 3 three (3) days after their due date. During the additional three (3) day period the failure to cure the default is not an Event of Default (but no Advance Credit Extension will be made during the cure period);

Appears in 2 contracts

Samples: Loan and Security Agreement (Visual Networks Inc), Loan and Security Agreement (Visual Networks Inc)

Payment Default. If Borrower fails to pay any of the Obligations within 3 days after their due date. During the additional period the failure to cure the default is not an Event of Default (Default, but no Advance will Equipment Advances shall be made during the cure period);

Appears in 2 contracts

Samples: Loan and Security Agreement (Esperion Therapeutics Inc/Mi), Loan and Security Agreement (Esperion Therapeutics Inc/Mi)

Payment Default. If Borrower fails to pay any of the Obligations within 3 five (5) days after their due date. During the additional period the failure to cure the default is not an Event of Default (but no Advance will be made during the cure period);

Appears in 2 contracts

Samples: Loan and Security Agreement, Loan and Security Agreement (Tivo Inc)

Payment Default. If Borrower fails to pay any of the Obligations within 3 5 days ---------------- after their due date. During the additional period the failure to cure the default is not an Event of Default (but no Advance Credit Extensions will be made during the cure period);

Appears in 2 contracts

Samples: Loan and Security Agreement (Lantronix Inc), Loan and Security Agreement (Lantronix Inc)

Payment Default. If Borrower fails Borrowers fail to pay any of the Obligations within 3 days after their due date. During the additional period the failure to cure the default is not an Event of Default (but no Advance Credit Extensions will be made during the cure period);

Appears in 1 contract

Samples: Loan and Security Agreement (Perficient Inc)

Payment Default. If either Borrower fails to pay any of the Obligations within 3 days after their due date. During the additional period the failure to cure the default is not an Event of Default (but no Advance Credit Extension will be made during the cure period);

Appears in 1 contract

Samples: Loan and Security Agreement (3d Systems Corp)

Payment Default. If Borrower fails to pay pay, within three (3) days of when due, any of the Obligations within 3 days after their due dateObligations. During the additional period the failure to cure the default is not an Event of Default (but no Advance Credit Extensions will be made during the cure period);.

Appears in 1 contract

Samples: Loan and Security Agreement (Juno Online Services Inc)

Payment Default. If Borrower fails to pay any of the Obligations within 3 5 days after their due date. During the additional period the failure to cure the default is not an Event of Default (but no Advance Credit Extension will be made during the cure period);; Table of Contents

Appears in 1 contract

Samples: Loan and Security Agreement (Optio Software Inc)

Payment Default. If Borrower fails to pay any of the Obligations within 3 --------------- three (3) days after their due date. During the additional period the failure to cure the default is not an Event of Default (but no Advance will Credit Extensions shall be made during the cure period);

Appears in 1 contract

Samples: Loan and Security Agreement (LTX Corp)

Payment Default. If Borrower fails to pay any of the Obligations within 3 5 days after their due date. During the additional period the failure to cure the default is not an Event of Default (but no Advance Credit Extensions will be made during the cure period);

Appears in 1 contract

Samples: Loan and Security Agreement (Exe Technologies Inc)

Payment Default. If Borrower fails Borrowers fail to pay any of the Obligations within 3 three (3) days after their due date. During the additional three (3) day period the failure to cure the default is not an Event of Default (but no Advance Credit Extension will be made during the cure period);

Appears in 1 contract

Samples: Loan and Security Agreement (Visual Networks Inc)

Payment Default. If Borrower fails to pay any of the Obligations within 3 ---------------- three (3) days after their due date. During the additional period the failure to cure the default is not an Event of Default (but no Advance Advances will be made during the cure period);

Appears in 1 contract

Samples: Loan and Security Agreement (Bio Imaging Technologies Inc)

Payment Default. If Borrower fails to pay any of the Obligations within 3 days after their its due date. During the 3-day additional period the failure to cure the default is not an Event of Default (but no Advance Credit Extension will be made during the cure period);

Appears in 1 contract

Samples: Loan and Security Agreement (Crossworlds Software Inc)

Payment Default. If Borrower fails to pay any of the Obligations and --------------- does not cure the same within 3 three (3) days after their due date. During the additional period the failure to cure the default is not an Event of Default (but no Advance will Credit Extensions shall be made during the cure period);

Appears in 1 contract

Samples: Loan and Security Agreement (Phase2media Inc)

Payment Default. If Borrower fails to pay any of the Obligations within 3 days three (3) Business Days after their due date. During the additional period the failure to cure the default is not an Event of Default (but no Advance will be made during the cure period);

Appears in 1 contract

Samples: Loan and Security Agreement (Palmsource Inc)

Payment Default. If Borrower fails to pay any of the Obligations within 3 days after their due date. During the additional period time the failure to cure the default is not an Event of Default (but no Advance Credit Extension will be made during the cure period);

Appears in 1 contract

Samples: Loan and Security Agreement (Avenue a Inc)

Payment Default. If Borrower fails to pay any of the Obligations within 3 days [**] Business Days after their due date. During the additional period the failure to cure the default is not an Event of Default (but no Advance will be made during the cure period);

Appears in 1 contract

Samples: Loan and Security Agreement (Palm Inc)

Payment Default. If Borrower fails to pay any of the Obligations within 3 days --------------- after their due date. During the additional period the failure to cure the default is not an Event of Default (but no Advance Credit Extensions will be made during the cure period);

Appears in 1 contract

Samples: Loan and Security Agreement (Aml Communications Inc)

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Payment Default. If Borrower fails to pay any of the Obligations within 3 days after their due date. During the additional 3 day period the failure to cure the default is not an Event of Default (but no Advance Credit Extension will be made during the cure period);

Appears in 1 contract

Samples: Loan Agreement (Emulex Corp /De/)

Payment Default. If Borrower fails to pay any of the Obligations within 3 --------------- days after their due datedate or fails to pay the Facility Fee set forth in Section 2.3 on or before January 7, 2000. During the additional period the failure to cure the default is not an Event of Default (but no Advance Credit Extensions will be made during the cure period);

Appears in 1 contract

Samples: Loan and Security Agreement (Clarus Corp)

Payment Default. If Borrower fails to pay any of the Obligations within 3 days after their due date. During the additional any such 3 day period the failure to cure the default is not an Event of Default (but no Advance Credit Extension will be made during the cure period);

Appears in 1 contract

Samples: Loan and Security Agreement (Infonow Corp /)

Payment Default. If Borrower fails to pay any of the Obligations within 3 days after their due date. During the additional period the failure to cure the default is not an Event of Default (but no Advance Advances will be made during the cure period);

Appears in 1 contract

Samples: Loan and Security Agreement (Pharsight Corp)

Payment Default. If Borrower fails to pay pay: (i) any of the Obligations (other than Bank Expenses) within 3 days after their due datedate or (ii) if Borrower fails to pay any Bank Expenses within 10 Business Days after receipt of notice from Bank that they are due. During the additional period the failure to cure the default is not an Event of Default (but no Advance Credit Extension will be made during the cure period);

Appears in 1 contract

Samples: Loan and Security Agreement (Cell Genesys Inc)

Payment Default. If Borrower fails Borrowers fail to pay any of the Obligations within 3 three (3) days after their due date. During the additional period the failure to cure the default is not an Event of Default (but no Advance Credit Extension will be made during the cure period);

Appears in 1 contract

Samples: Loan and Security Agreement (Animas Corp)

Payment Default. If Borrower fails to pay any of the Obligations within 3 days after their due date. During the additional period the failure to cure the default is not an Event of Default (but no Advance will be made during the cure period);; 8.2

Appears in 1 contract

Samples: Loan and Security Agreement (Tanisys Technology Inc)

Payment Default. If Borrower fails to pay any of the principal amount owed hereunder when due, or any interest or other Obligations within 3 days after their due date. During the additional period the failure to cure the default is not an Event of Default (but no Advance Credit Extension will be made during the cure period);

Appears in 1 contract

Samples: Loan and Security Agreement (Sipex Corp)

Payment Default. If Borrower fails Borrowers fail to pay any of the Obligations within 3 three (3) days after their due date. During the additional period the failure to cure the default is not an Event of Default (but no Advance will Credit Extensions shall be made during the cure period);

Appears in 1 contract

Samples: Loan and Security Agreement (Visual Networks Inc)

Payment Default. If Borrower fails to pay any of the Obligations within 3 5 days after their due date. During the additional any such 5 day period the failure to cure the default is not an Event of Default (but no Advance Credit Extension will be made during the cure period);

Appears in 1 contract

Samples: Loan and Security Agreement (Advanced Energy Industries Inc)

Payment Default. If Borrower fails to pay any of the Obligations within 3 days after their its due date. During the additional period the failure to cure the default is not an Event of Default (but no Advance Credit Extensions will be made during the cure period);

Appears in 1 contract

Samples: Loan and Security Agreement (Preview Systems Inc)

Payment Default. If Borrower fails to pay any of the Obligations within 3 five (5) days after their due date. During the additional period the failure to cure the default is not an Event of Default (but no Advance Credit Extension will be made during the cure period);

Appears in 1 contract

Samples: Loan and Security Agreement (Roxio Inc)

Payment Default. If Borrower fails to pay any of the Obligations within 3 three days after their due date. During the such additional 3 day period the failure to cure the such payment default is not an Event of Default hereunder (but no Advance Credit Extension will be made during the cure period);

Appears in 1 contract

Samples: Loan and Security Agreement (I Flow Corp /De/)

Payment Default. If a Borrower fails to pay any of the Obligations within 3 days after their due date. During the additional period the failure to cure the default is not an Event of Default (but no Advance Credit Extension will be made during the cure period);

Appears in 1 contract

Samples: Loan and Security Agreement (Advanced Photonix Inc)

Payment Default. If Borrower fails to pay any of the Obligations within 3 days after their due date. During the additional period the failure to cure the default is not an Event of Default (but no Advance Credit Extension will be made during the cure period);.

Appears in 1 contract

Samples: Loan and Security Agreement (Egroups Inc)

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