Common use of Seller’s Obligations Upon Default Clause in Contracts

Seller’s Obligations Upon Default. Upon occurrence of an Event of Default due to the Seller’s breach of its obligations under this Agreement, the Seller shall immediately deliver to the Purchaser the entire unpaid portion of the Purchased Amount. The Seller shall also pay to the Purchaser any reasonable expenses incurred by the Purchaser in connection with recovering the monies due to the Purchaser pursuant to this Agreement, including, without limitation, the cost of retaining collection firms and reasonable attorneys’ fees which shall include a 33% contingency fee of the amount demanded and disbursements (collectively, “Reasonable Damages”). The Parties agree the Reasonable Damages are either Twenty-Five Percent (25%) of the undelivered portion of the Purchased Amount upon the occurrence of an event of default, or Twenty-Five Hundred Dollars ($2,500.00), whichever is greater. The entire sum due shall bear simple interest from the Default Date until it is paid in full, at a rate of Nine Percent (9%) per annum, with interest accruing daily.

Seller’s Obligations Upon Default. Upon occurrence of an Event of Default due to the Seller’s breach of its obligations under this Agreement, the Seller shall immediately deliver to the Purchaser the entire unpaid portion of the Purchased Amount. The Seller shall also pay to the Purchaser any reasonable expenses incurred by the Purchaser in connection with recovering the monies due to the Purchaser pursuant to this Agreement, including, without limitation, the cost of retaining collection firms and reasonable attorneys’ fees which shall include a 33% contingency fee of the amount demanded and disbursements (collectively, “Reasonable Damages”). The Parties agree the Reasonable Damages are either Twenty-Five Percent (25%) of the undelivered portion of the Purchased Amount upon the occurrence of an event of default, or Twenty-Five Hundred Thousand Dollars ($2,500.005,000.00), whichever is greater. The entire sum due shall bear simple interest from the Default Date until it is paid in full, at a rate of Nine Percent (9%) per annum, with interest accruing daily.

Seller’s Obligations Upon Default. Upon occurrence of an Event of Default due to the Seller’s 's breach of its obligations under this Agreement, the Seller shall immediately deliver to the Purchaser the entire unpaid portion of the Purchased Amount. The Seller shall also pay to the Purchaser any reasonable expenses incurred by the Purchaser in connection with recovering the monies due to the Purchaser pursuant to this Agreement, including, without limitation, the cost of retaining collection firms and reasonable attorneys’ attorneys ' fees which shall include a 33% contingency fee of the amount demanded and disbursements (collectively, “"Reasonable Damages”"). The Parties agree the Reasonable Damages are either Twenty-Five Percent (25%) of the undelivered portion of the Purchased Amount upon the occurrence of an event of default, or Twenty-Five Hundred Dollars ($2,500.00), whichever is greater. The entire sum due shall bear simple interest from the Default Date until it is paid in full, at a rate of Nine Percent (9%) per annum, with interest accruing daily.

Seller’s Obligations Upon Default. Upon occurrence of an Event of Default due to the Seller’s breach of its obligations under this Agreement, the Seller shall immediately deliver to the Purchaser Buyer the entire unpaid portion of the Purchased Amount. The In addition, Seller shall also pay to the Purchaser Buyer, as additional damages, any reasonable expenses incurred by the Purchaser Buyer in connection with recovering the monies due to the Purchaser Buyer from Seller pursuant to this Agreement, including, including without limitation, limitation the cost costs of retaining collection firms and reasonable attorneys’ fees which shall include a 33% contingency fee of the amount demanded and disbursements (collectively, “Reasonable Damages”). The Parties parties agree that Buyer shall not be required to itemize or prove its Reasonable Damages and that the fair value of the Reasonable Damages are either Twentyshall be calculated as thirty-Five Percent three percent (2533%) of the undelivered portion of the Purchased Amount of Future Receipts upon the occurrence of an event of default, or Twenty-Five Hundred Dollars seventy- five hundred dollars ($2,500.007,500.00), whichever is greater. The entire sum due to Buyer pursuant to this Section 29 shall bear simple interest from the Default Payment Date until it is paid in full, at a the rate of Nine Percent 9.00% per annum (9%) per annum, with and such interest accruing shall accrue daily).