Rights of Holder upon Default definition

Rights of Holder upon Default section of the Note is deleted and replaced with the following: (a) Upon the occurrence and during the continuation of any Event of Default, immediately and without notice, all outstanding principal, interest, and fees payable by Innofone hereunder shall automatically become immediately due and payable, without presentment, demand, protest or any other notice of any kind, all of which are hereby expressly waived, anything contained herein to the contrary notwithstanding. (b) Upon the occurrence of any Event of Default, immediately and without notice, the Company shall register one million (1,000,000) of the Innofone Stock for resale.” Except as modified herein, all other terms and conditions of the Note shall remain in effect and the parties hereby ratify and confirm same. All capitalized terms used herein shall have the same meaning as set forth in the Note.
Sample 1Sample 2

Related to Rights of Holder upon Default

  • Acceleration Event means the occurrence of an Event of Default (a) in respect of which Agent has declared all or any portion of the Obligations to be immediately due and payable pursuant to Section 10.2, (b) pursuant to Section 10.1(a), and in respect of which Agent has suspended or terminated the Revolving Loan Commitment pursuant to Section 10.2, and/or (c) pursuant to either Section 10.1(e) and/or Section 10.1(f).

  • Acceleration Event of Default means an Event of Default under Section 5.1(a), (d), (e) or (f), whatever the reason for such Acceleration Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body.

  • Registration Default Damages shall have the meaning set forth in Section 8 hereof.

  • Automatic Early Redemption Event means that:

  • Triggering Event of Default means (i) any Event of Default with respect to an obligation of the Mortgage Loan Borrower to pay money due under the Mortgage Loan or (ii) any non-monetary Event of Default as a result of which the Mortgage Loan becomes a Specially Serviced Mortgage Loan (which, for clarification, shall not include any imminent Event of Default (i.e., subclause (vii) of the definition of Special Servicing Loan Event)).

  • Default Event means an event or circumstance which leads Operator to determine that a Venue User is or appears to be unable or likely to become unable to meet its obligations in respect of an Order or Transaction or to comply with any other obligation under an Agreement or Applicable Law.

  • Registration Default As defined in Section 5 hereof.

  • Note Event of Default means any “Event of Default” specified in Section 5.1 of the Indenture.

  • Issuer Event of Default means the occurrence of any of the following events:

  • Registration Default Period shall have the meaning assigned thereto in Section 2(c).

  • Specified Event of Default means an Event of Default under Section 7.01(a), (b), (h) or (i).

  • Modification Default Loss means the loss calculated in Exhibits 2a(1)-(3) for single family loans previously modified pursuant to this Single Family Shared-Loss Agreement that subsequently default and result in a foreclosure, short sale or Deficient Loss.

  • Acceleration Notice shall have the meaning specified in Section 6.2.

  • Default Rights has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable.

  • Early Redemption Event means that R (k) is equal to or greater than the Early Redemption Level (k) on the respective Observation Date (k).

  • Early Preference Share Redemption Event means the event that occurs if:

  • Default Effect means multiplying the Outstanding Balance as of the date the applicable Event of Default occurred by (a) 15% for each occurrence of any Major Default, or (b) 5% for each occurrence of any Minor Default, and then adding the resulting product to the Outstanding Balance as of the date the applicable Event of Default occurred, with the sum of the foregoing then becoming the Outstanding Balance under this Note as of the date the applicable Event of Default occurred; provided that the Default Effect may only be applied three (3) times hereunder with respect to Major Defaults and three (3) times hereunder with respect to Minor Defaults; and provided further that the Default Effect shall not apply to any Event of Default pursuant to Section 4.1(b) hereof.

  • Guarantor Event of Default means the occurrence of any “Event of Default” under and as defined in the Performance Guaranty.

  • Termination Events means each of the events specified in Clause 10.3 of this Contract.

  • ii) Event means any event described in Section 11(a)(ii) hereof.

  • Tax Event Upon Merger has the meaning specified in Section 5(b).

  • Non-Monetary Default Notice shall have the meaning assigned to such term in Section 11(d).

  • Payment Event of Default means an Event of Default specified in Section 7.1(a).

  • Financial Covenant Event of Default has the meaning specified in Section 8.01(b).

  • in default means that, as to any Mortgage Loan, any Mortgage Note payment or escrow payment is unpaid for thirty (30) days or more after its due date (whether or not the Seller has allowed any grace period or extended the due date thereof by any means) or another material default has occurred and is continuing, including the commencement of foreclosure proceedings or the commencement of a case in bankruptcy for any Customer in respect of such Mortgage Loan.

  • Debenture Event of Default means an "Event of Default" as defined in the Indenture.