Common use of Remedies for Non-Payment Clause in Contracts

Remedies for Non-Payment. Until all Obligations have been paid in full, either in cash or through an Exchange effected in accordance with Section 2(c) above, the Holder shall have all rights and remedies set forth in this Note and the other Transaction Documents and which it may otherwise have under any law or in equity with respect to amounts due and unpaid hereunder. The Holder and its permitted successors and assigns shall be entitled to enforce such rights specifically, to recover damages by reason of any non-payment of the Obligations when due or the breach of any provision of this Note or the Transaction Documents and to exercise all other rights granted by law or in equity, if available. The Company recognizes and agrees that in the event that it fails to perform, observe, or discharge any or all of its obligations under this Note, any remedy at law may prove to be inadequate relief to the Holder and, therefore, the Holder shall be entitled to seek temporary and permanent injunctive relief in any such case without the necessity of proving actual damages and without posting a bond or other security.