Xxxxxx and Application of Payments. All payments due hereunder shall be paid in lawful money of the United States of America which shall be legal tender in payment of all debts and dues, public and private, in immediately available funds, without offset, deduction or recoupment. Any payment by check or draft shall be subject to the condition that any receipt issued therefor shall be ineffective unless the amount due is actually received by the Holder. Each payment shall be applied first to the payment of any and all costs, fees and expenses incurred by or payable to the Holder in connection with the collection or enforcement of this Note, second to the payment of all unpaid late charges (if any), third, to the payment of all accrued and unpaid interest hereunder and fourth, to the payment of the unpaid Principal Amount, or in any other manner which the Holder may, in its sole discretion, elect from time to time.
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Samples: Convertible Promissory Note (PSM Holdings Inc), Convertible Promissory Note (PSM Holdings Inc), Convertible Promissory Note (PSM Holdings Inc)
Xxxxxx and Application of Payments. All payments due hereunder shall be paid in lawful money of the United States of America which shall be legal tender in payment of all debts and dues, public and private, in immediately available funds, without offset, deduction or recoupment. Any payment by check or draft shall be subject to the condition that any receipt issued therefor therefore shall be ineffective unless the amount due is actually received by the Holder. Each payment shall be applied first to the payment of any and all costs, fees fees, and expenses incurred by or payable to the Holder in connection with the collection or enforcement of this Note, second to the payment of all unpaid late charges (if any), third, to the payment of all accrued and unpaid interest hereunder as allocated by Heatwurx in writing as of the date of receipt of the funds, and fourth, to the payment of the unpaid Principal Amount, or in any other manner which the Holder may, in its sole discretion, elect from time to time.
Appears in 3 contracts
Samples: Senior Secured Promissory Note (Heatwurx, Inc.), Senior Secured Promissory Note (Heatwurx, Inc.), Senior Secured Promissory Note (Heatwurx, Inc.)
Xxxxxx and Application of Payments. All payments due hereunder shall be paid in lawful money of the United States of America which shall be legal tender in payment of all debts and dues, public and private, in immediately available funds, without offset, deduction or recoupment. Any payment by check or draft shall be subject to the condition that any receipt issued therefor therefore shall be ineffective unless the amount due is actually received by the HolderLender. Each payment shall be applied first to the payment of any and all costs, fees and expenses incurred by or payable to the Holder Lender in connection with the collection or enforcement of this Note, second to the payment of all unpaid late charges (if any), and third, to the payment of all accrued and unpaid interest hereunder and fourth, to the payment of the unpaid Principal Face Amount, or in any other manner which the Holder Lender may, in its sole discretion, elect from time to time.
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Samples: Subordinated Secured Promissory Note (Egain Communications Corp)
Xxxxxx and Application of Payments. All payments due hereunder shall be paid in lawful money of the United States of America which shall be legal tender in payment of all debts and dues, public and private, in immediately available funds, without offset, deduction or recoupment. Any payment by check or draft shall be subject to the condition that any receipt issued therefor therefore shall be ineffective unless the amount due is actually received by the Holder. Each payment shall be applied first to the payment of any and all costs, fees and expenses incurred by or payable to the Holder in connection with the collection or enforcement of this Note, second to the payment of all unpaid late charges (if any), third, to the payment of all accrued and unpaid interest hereunder and fourth, to the payment of the unpaid Principal Amount, or in any other manner which the Holder may, in its sole discretion, elect from time to time.
Appears in 1 contract
Samples: Promissory Note (Second Sight Medical Products Inc)
Xxxxxx and Application of Payments. All payments due hereunder shall be paid in lawful money of the United States of America which shall be legal tender in payment of all debts and duesdue, public and private, in immediately available funds, without offset, deduction or recoupment. Any payment by check or draft shall be subject to the condition that any receipt issued therefor therefore shall be ineffective unless the amount due is actually received by the HolderBank. Each payment shall be applied first to the payment of any and all costs, fees and expenses incurred by or payable to the Holder Bank in connection with the collection or enforcement of this Note, second to the payment of all unpaid late charges (if any), third, third to the payment of all accrued and unpaid interest hereunder and fourth, to the payment of the unpaid Principal Amountprincipal balance of this Note, or in any other manner which the Holder Bank may, in its sole discretion, elect from time to time, but only to the extent to Bank is entitled to such payment under the term of the Loan Documents.
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