Trigger Effect means multiplying the Outstanding Balance as of the date the applicable Trigger Event occurred by (a) fifteen percent (15%) for each occurrence of any Major Trigger Event, or (b) five percent (5%) for each occurrence of any Minor Trigger Event, and then adding the resulting product to the Outstanding Balance as of the date the applicable Trigger Event occurred, with the sum of the foregoing then becoming the Outstanding Balance under this Note as of the date the applicable Trigger Event occurred; provided that the Trigger Effect may only be applied three (3) times hereunder with respect to Major Trigger Events and three (3) times hereunder with respect to Minor Trigger Events; and provided further that the Trigger Effect shall not apply to any Trigger Event pursuant to Section 4.1(a) hereof.
Trigger Effect means multiplying the Outstanding Balance as of the date the applicable Trigger Event occurred by (a) fifteen percent (15%) for each occurrence of any Major Trigger Event, or (b) five percent (5%) for each occurrence of any Minor Trigger Event, and then adding the resulting product to the Outstanding Balance as of the date the applicable Trigger Event occurred, with the sum of the foregoing then becoming the Outstanding Balance under this Note as of the date the applicable Trigger Event occurred; provided that the Trigger Effect may only be applied three (3) times hereunder with respect to Major Trigger Events and three (3) times hereunder with respect to Minor Trigger Events.
Trigger Effect means multiplying the Outstanding Balance as of the date the applicable Trigger Event occurred by (a) fifteen percent (15%) for each occurrence of any Major Trigger Event, or (b) five percent (5%) for each occurrence of any Minor Trigger Event, and then adding the resulting product to the Outstanding Balance as of the date the applicable Trigger Event occurred, with the sum of the foregoing then becoming the Outstanding Balance under this Note as of the date the applicable Trigger Event occurred; provided that the aggregate application of the Trigger Effect may not exceed twenty-five percent (25%).
Examples of Trigger Effect in a sentence
At any time following the occurrence of any Trigger Event, Lender may, at its option, increase the Outstanding Balance by applying the Trigger Effect (subject to the limitation set forth below).
More Definitions of Trigger Effect
Trigger Effect means multiplying the Outstanding Balance as of the date the applicable Trigger Event occurred by (a) fifteen percent (15%) for each occurrence of any Major Trigger Event, or (b) five percent (5%) for each occurrence of any Minor Trigger Event, and then adding the resulting product to the Outstanding Balance as of the date the applicable Trigger Event occurred, with the sum of the foregoing then becoming the Outstanding Balance under this Note as of the date the applicable Trigger Event occurred; provided that the Trigger Effect may only be applied one (1) time hereunder with respect to Major Txxxxxx Events and one (1) time hereunder with respect to Minor Trigger Events; and provided further that the Trigger Effect shall not apply to any Trigger Event pursuant to Section 4.1(a) hereof.
Trigger Effect means multiplying the Outstanding Balance as of the date the applicable Trigger Event occurred by
Trigger Effect means multiplying the Outstanding Balance as of the date the applicable Trigger Event occurred by twenty percent (20%) following the occurrence of a Trigger Event.
Trigger Effect means multiplying the Outstanding Balance as of the date the applicable Event of Default occurred (after giving effect to any opportunity to cure) by (a) fifteen percent (15%) for each occurrence of any Major Trigger Event, or (b) five percent (5%) for each occurrence of any Minor Trigger Event, 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, however, the cumulative application of the Trigger Effect will be capped at a maximum of twenty percent (20%). The Trigger Effect may not be applied for a Trigger Event occurring pursuant to Section 4.1(b).
Trigger Effect means multiplying the Outstanding Balance as of the date the applicable Trigger Event occurred by ten percent (10%) following the occurrence of a Trigger Event. EXHIBIT B Security Agreement This Security Agreement (this “Agreement”), dated as of February 23, 2023, is executed by Intrusion Inc., a Delaware corporation (“Debtor”), in favor of Streeterville Capital, LLC, a Utah limited liability company (“Secured Party”).
Trigger Effect means multiplying the Outstanding Balance as of the date the applicable Trigger Event occurred by ten percent (10%) following the occurrence of a Trigger Event. EXHIBIT B Security Agreement This Security Agreement (this “Agreement”), dated as of January 2, 2024, is executed by Intrusion Inc., a Delaware corporation (“Debtor”), in favor of Xxxxxxx Xxxxx, a Texas resident (“Secured Party”).
Trigger Effect means multiplying the Outstanding Balance as of the date the applicable Trigger Event occurred by: (a) twenty percent (20%) following the occurrence of a Major Trigger Event; and (b) five percent (5%) following the occurrence of a Minor Trigger Event.